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How sweet of them. I would wager that they stole more than $5 per account they hacked.

AFAIK, there are no sales of order flow in the regulated futures markets. Just putting that out there for information.

Depends on how well Silicon Valley and the MSM can keep a lid on all the shady shit dripping out of Hunter's laptop.

In the US, the Hartford Insurance Company was given a loan of $3.4B from the Treasury and as far as I can tell they already paid it back. https://projects.propublica.org/bailout/list

Every Business Insurance Policy is going to have a rigourous "Force Majeure" exemption. The exception would be Companies who purchased specific "Force Majeure" insurance policies or riders...

Exactly. It takes zero skill to just add to an underwater position.

All the guys I’ve seen who got fired by their electronic prop firms or who had their Accounts closed and floor trading clearance revoked - just about all of them added to losers.

Who determines what is a regulated securities exchange in the United States - the Google dictionary or the Securities Exchange Act of 1934 and the US Securities Exchange Commission? Which carries the weight of law when it comes to enforcement, legal remedies, and tort litigation? Who holds...

Will you scale out of your loser ? The reality behind adding to a loser is that the price point on the original entry signal is getting progressively weaker... In practice, for most traders - adding to losers changes the premise of the trade from making a profit to (hopefully) breaking even on...

It has nothing to do with my trading system - it is certainly not to my advantage to see clients get blown out.

I personally know a guy who lost $4.5M in a single day adding to losers. I saw his TT screen. Used to sit next to him. Interest Rate Futures. Kept adding and he was sure it was going to come back. He threw away about five years of work in one day.

Brian Hunter lost $6.5 Billion and blew out Amaranth adding to losers in the Natural Gas Market. Jerome Kerviel lost $7.2 Billion at Soc Gen adding to losers in the Equity Index markets. And I have personally seen quite a few traders get blown out adding to losers.

This guy Einar Aas lost everything adding to a loser in the NASDAQ Nordic Electricity Market. He went from having a personal worth over $100M to being broke and working as an analyst. In fact, the loss was so substantial it caused a default in the trading exchange. They allowed him to keep...

It would be easy enough to devise a test about the profitability of adding to losers in a day trading session over a protracted period of time. I've done it before. And I don't add to losers because I know that sooner or later it is always catostrophic. I don't like throwing away a month or a...

I've been dealing with Futures Commissions Merchants and Investment Bank Desks for about 25 years now - every client agreement has verbiage in it about phone calls being recorded, and you can hear the intermittent beep on the line alerting you as such. In such a client-broker contracted...

No. Robinhood is not a trading exchange. The SEC has broad authority over defining and regulating securities exchanges, and here is the list of securities exchanges in the United States: https://www.sec.gov/fast-answers/divisionsmarketregmrexchangesshtml.html Securities Exchange Act of 1934...

Might be best to just drop this line of reasoning. I wish you good fortune!

If they’re smart they make everyone whole pronto. They’re private but they’ve raised a lot of money this year and there was talk of a public IPO. 2020 has been one hell of a year - COVID really helped Robinhood, but this security fiasco isn’t inspiring to say the least.

So, the way I at least read the SIPC statement on securities fraud is that unless Robinhood is being liquidated >> get your money from Robinhood and/or file a legal complaint with the SEC and FINRA.

From SIPC: "SIPC’s role and responsibilities are as defined under the Securities Investor Protection Act (SIPA). Under that law, SIPC protection is available only to customers of a member broker-dealer that is in liquidation under SIPA or is the subject of a direct payment procedure. If you...