As you are well aware, today in our Trending Futures system we sent our subscribers a potential trade alert on an underlying with a sell to open stop market order:
Emailed, trade filled @16202 (8/13/08 10:30)
8/13/2008 Sell to open 1 @RRX8 @ stop 16100 GTC
OCA Group 1 Cond
Emailed, trade filled @16292 (8/13/08 10:30)
8/13/2008 Buy to close 1 @RRX8 @ stop 16200 GTC
The order should not have been placed because the underlying price was never penetrated below 16100 level. Immediately at the open of trading, the short sell of 1 contract was however issued to subscribers. It was subsequently closed at a loss in their accounts. This trade, however small is beside the point, is now also showing up in the Trending Futures track record as a result.
This is not the first time this has happened, but we have been having multiple issues with Rough Rice since it was made available here at C2 as one of the list of products. I have lost subscribers as a result of this, even though I had been reassured that the problem was now as of this morning subsequently resolved. Obviously it wasn’t.
Even though ROUGH RICE is listed as one of the instruments available, as a result, I will simply not issue further trade alerts on rough rice any longer through C2, because for whatever reason C2 / broker data exchange continues to not work properly for rough rice.
Suggestion: C2 development should be taking place in a test environment before implementation into production platform. When I use to project manage web site development, all development was performed on development servers for just that purpose. Bugs were worked out, problems resolved, only after the fact when the project was finished / complete or proven to work was that technology then placed in a production / live environment for the customer usage.
I would humbly suggest that C2 management follow this same type of conscientious project management model. Otherwise we will continually have issues like the one we are experiencing today with the rough rice issue that took place this morning.
Issues that cost the client subscriber in the form of lost $ in their accounts unnecessarily.
Rough Rice has almost no volume, and should not be used for trading. Other things like electronic meats, miNY metals, lumber also should be avoided.