Managing Forex Trades After a Decimal and Spread Error

# Forex buying 2000+ pip difference


# Forex buying 2000+ pip difference












I did a mistake just now and bought 2000+ pip difference USD/RUB. (I tought Its 2.0 but 2,0) I can't contact to forex office because its 2 AM here. now It shows 5k+ USD loss. I am in panic right now. It shows I bought at 40.80 and now 38.67 I meant to buy at 38.67 but It was spread difference.

Will my money back when spread calms down?

edit : spread seems getting calm down slowly, now 770pip and my loos down to 2k USD. I HOPE It will be normal and I will get my money back :/

edit2: I end up with 1200 USD loss and did close the position. I did contact with broker they told they will try their best but after some hours they called me with bad news. :(

## Answer by Shahar (score 3)

https://quant.stackexchange.com/a/15031

If you're asking if you'd get your money back when spreads subside, you are basically asking [or hoping] whether the position will move in your direction. The short answer is probably yes (this pair has been in an uptrend for years), I would bet on up rather than down.

However, this might not occur quickly enough, i.e. before you have to liquidate or lose your nerve. Have you been demo-trading this platform and this pair enough, before committing live funds? I suspect the answer is no. While there are obviously important differences between live and demo accounts, the latter have a lot to offer: tuition-free trading education! Take advantage of this opportunity thorougly. While it might not be enough (and certainly demo success does not ensure live success), it has huge value. For example, it might have prevented this incident, saving you USD $1200 in the process!

## Answer by rupweb (score 2)

https://quant.stackexchange.com/a/15025

It can be undone if you negotiate with the broker. There may or may not be a cost depending on how the broker manages their RUB book. That depends on (a) if they make their own prices, or (b) if they have a price provider whether (i) they cover their client positions immediately, or (ii) they build small client positions and cover later.

Well, in this case you made a mistake (right or wrong) in the spread.

The cost of unwind is nothing if it's (a) and they make their own prices, because they simply give up the profit they would have made from you. If its (b)(i) then they can reverse their position at a more favourable spread than the spread you're given, but there's a cost for them. If it's (b)(ii) then they may be able to simply cancel your position at no cost, again giving up a hedging profit.

It depends if they want you as a repeat client. In the interests of the long term relationship with you they ought to undo the trade.

EDIT1: on further questions it depends on the broker relationship with their own providers, and whether they can persuade their providers to unwind orders, positions or trades that result from a client mistake...

## Answer by emcor (score 1)

https://quant.stackexchange.com/a/15020

The trade cannot be made undone, you can at best sue your broker for not correctly informing you about the "2,0/2.0" notation.