Background: Been trading stocks/options for a year on 5 different brokerages, ToS, ET, RH, Chase YouInvest, WB. I narrowed it down to 2, Chase YouInvest for my actual stocks, and ToS for my options. I put $1000 of my biweekly paycheck into YouInvest for trading.
Recently I started swing trading on Chase YouInvest, in the form of putting all my investment cash into one stock, riding an uptrend, and selling either same day, or the next day. No dollar left behind in subsequent trades.
-I started doing this on 5/08/2020, with $4826.58, went all in on $MARK.
-On 5/11/2020 sold all $MARK for $5179.08. Same day, I put all of that + some extra cash for a total of $5424.52 into $SDC.
-On 5/12/2020, I sold 211 $SDC shares in the morning, then 400 $SDC shares later that day for a total of ~$6079. That same day, I put that plus a bit of cash for a total of $6084.94 into $INO. Later that day I sold all of my $INO for a total of ~$6180.
Here is a screenshot of all the trades above: https://imgur.com/iZISA8T
-On 5/13/2020, I put $8599.90 into $VTIQ. That same day, I sold all my shares for $8873.80. Later that day, I put $8668.80 into $CODX.
Here is the screenshot for these trades: https://imgur.com/vuoO6Zr
-On 5/14/2020, I sold all those $CODX for about $11,650. Now here's where shit gets fucked up. I didn't buy anything else that day, since I didn't see any good plays. You would expect you' have $11,650 in your account the next day to trade with right?
-On 5/15/2020, I did some DD on $SRNE, liked what I saw. I also had $1000 of my paycheck deposited in my account. I was ready to make money with $12,650 ready to be invested for a nice swing.
I was devastated when the account showed that I only had $1000 to trade with. I went ahead and put it into $SRNE, and proceeded to call Chase customer service for an answer: I was put on hold indefinitely. Then, $SRNE started mooning! So, around 12:27PM, when $SRNE was well above $8.50, I proceeded to TRY to set a Stop loss at $8 for all my $SRNE shares. Chase YouInvest kept blocking my stop loss, saying it was an "Invalid Stop Loss". This kept going on no matter what price I put in, and eventually $SRNE started coming down, and I eventually was able to Limit sell for $6.94 for a total of $1387.
Here's a link to the trades on 5/15/2020: https://imgur.com/halNRcT
Here's a link to my attempts at stop loss sells of $SRNE at $8 at 12:27PM: https://imgur.com/NlGZRP0
Now, Chase was with-holding the cash from the trade I made the day before I was planning on putting all into a swing trade, on top of my $1000 deposit.
Chase's Stop Loss sell was broken, causing me to exit at $6.94 rather than my intended $8 when the price was well above for around 30 minutes, no matter how many times I tried. My entry was $4.99.
Profit I should have had:
$21880.56 = ($12,650 Money Chase stole + $998 deposit) x ($8.00 Intended exit / $4.99 entry)
$21880.56 - $13648 = $8232.56
Actual Profit:
$1387.86 - $998 = $389.86
Profit lost due to Chase's incompetence:
$8232.56 - $389.86 = around $8K.
YouInvest?, more like YouInvest with our permission.
Submitted May 16, 2020 at 07:30PM by gitpullhoes https://ift.tt/2ydL0da
