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Author Topic: Bitcoinica: default to Market Order + Tablet + quick pick = uncool  (Read 695 times)
guruvan
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March 26, 2012, 11:34:13 PM
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Totally uncool to be able to do this. Seriously, it's kinda funny at a certain number, but NOT funny at all with a bigger number.  Grin

Fundamentally this is user error, but I just saw that I managed to enter a position by simply tapping the screen on my tablet to keep it on. Apparently on another tap, I also hit one of the quick pick buttons. This added a fair amount to my position.  Shocked thankfully, I got a price inside the ask, and thankfully it did not exit my position, currently in negative profit zone.

The default is to market order 1 BTC if you bump the Buy or Sell buttons. BOY am I glad I didn't hit the 1000 or 2000 quick pick!!!!! 

Bitcoinica: Please make the default on the trading page NO order so the customer can't screw up expensively with a misclick.

If this accident was any more unfortunate, and cost me money, I'd be pretty upset. (Like i was when I lost a bunch of money trying the broken trailing stop!)

I wouldn't have entered at this time, I didn't want to pay the extra swap - but meh - it brought my base down a couple pennies, and the risk is not unacceptable to me, so it's ok this time, but this shouldn't really be possible.





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March 27, 2012, 02:01:30 AM
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Like i was when I lost a bunch of money trying the broken trailing stop!)
Has that trailing stop ever been fixed? And regular stops occasionally working, but only when they feel like it.

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March 27, 2012, 03:12:06 AM
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Like i was when I lost a bunch of money trying the broken trailing stop!)
Has that trailing stop ever been fixed? And regular stops occasionally working, but only when they feel like it.

after my first go with it I haven't been brave enough to try it again.

As a general rule, I don't set stops. Too many ForEx brokers have been caught with bogus "liquidity squeezes" that result in artificial price spikes, set slippage, and other dirty tricks for me to mess with it. (see MetaTrader4 Virtual Dealer Plugin)

Since there is a distinct potential for low liquidity at Bitcoinica, I tend to not use Market orders unless I've watched the price bot for a good while, and know exactly what's happening. Getting hit with $0.10 of slippage on a market order hurts. When carefully executed in alignment with the price bot/real order depth, they work well. Since a stop executes a market order, unsupervised, I'm wary, and don't use. There's too much chance for spikes to stop you out, without any dirty tricks, that it seems it's just asking to give someone else your money Smiley

Mine at the Maza Club! with ShastaFarEye Prospectors! Mazacoin PPS & P2pool mining, and more services coming soon!
Maza Means Money! Check yours at the mazacha.in!

Please contact me  on my  OTC registered GPG (A54E87F2) Key's email address or guruvan@shastafareye.net  and encrypt all correspondence.
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