Come to think of it you are right.It's irrelevant and nothing to worry about --------- the P/L is unrealized at this point.
Am I being ripped off by my broker?
- Thread starter nxt7
- Start date
I only trade equity.
http://www.elitetrader.com/et/index...their-experience-about-the-firm.169906/page-2
Read post #17.
Like I said. I entered a weekly ES option that was $5 when I entered (on Wednesday), ES went up 10 points and the option moved 80cents.
Now I watched the options the next day (Thursday) and I was watching a $6 option that moved $6 to $11 after 10 points.
It was a completely different result!! WHICH WASN'T IN MY FAVOR!!
The amount of people on here that have had problems with their "SOFTWARE", and I want to highlight open e-cry (GAIN) as 1 is clear evidence of brokers ripping people off. I was with GAIN for a week and the amount of problems I had was through the roof. I'm simply not going to trade like that!!
I traded with AMP / ninja for 6 months and was NEVER locked out of a trade. NEVER NOT ONCE had any software malfunctions. Meanwhile, my first week at GAIN / open e-cry produced at least 5 "SOFTWARE" issues. Like I was unable to close some trades out. Which resulted in a loss suprise suprise.
I give up... I knew I was getting false quotes. Simple as that.
Read post #17.
Like I said. I entered a weekly ES option that was $5 when I entered (on Wednesday), ES went up 10 points and the option moved 80cents.
Now I watched the options the next day (Thursday) and I was watching a $6 option that moved $6 to $11 after 10 points.
It was a completely different result!! WHICH WASN'T IN MY FAVOR!!
The amount of people on here that have had problems with their "SOFTWARE", and I want to highlight open e-cry (GAIN) as 1 is clear evidence of brokers ripping people off. I was with GAIN for a week and the amount of problems I had was through the roof. I'm simply not going to trade like that!!
I traded with AMP / ninja for 6 months and was NEVER locked out of a trade. NEVER NOT ONCE had any software malfunctions. Meanwhile, my first week at GAIN / open e-cry produced at least 5 "SOFTWARE" issues. Like I was unable to close some trades out. Which resulted in a loss suprise suprise.
I give up... I knew I was getting false quotes. Simple as that.
As I've said time and time again, if you are truly getting false quotes then you've just received a gift from your broker. Simply put on a small trade in the same direction as the one you want, wait for them to shade the quote to show it as a loss, then put in your full order at the lower (higher if shorting) price. You should be excited that you've figured out how to make money off of GAIN.
In this particular case, you appear to be conflating two completely different things. You may or may not have a legitimate gripe that the broker's software is buggy. That is a very different thing from a single broker manipulating the national price of the ES option with volume of $100B a day just in order to screw you out of a few thousand bucks, which is patently absurd. If you truly believe that, I'd submit that trading isn't going to be a rewarding profession for you.
I'm aware of this already Sig. I'm pretty sure that they will lock you out and won't let you enter a the lower price. U gonna sign up with GAIN and take all this cheap $$?
GAIN is a major player in FX and we all know that FX brokers are well known for showing different prices to the market. Which is never in the favor of its "clients". I've read to many threads on GAIN to know that they r dodgie.
GAIN IS A BUCKET SHOP, THEY ARE CALLED BUCKETSHOP FOR A REASON. THE FACT THAT YOUR ON THIS THREAD TRYING TO JUSTIFY AND STAND UP FOR A BUCKET SHOP IS WELL BEYOND ME. WHERE DID YOU THINK THEY GET THAT NAME FROM??
Well i960, we shouldn't find anything suss going on then with GAIN then should we? Not like the many threads that show up here on ET of people having software "malfunctions"
Gain isn't "just an FCM" they are an OTC CFD provider. They are also the data provider. They don't use CQG or TT for data. Similiar companies like IG markets don't even let people comment on their Youtube videos because of their "bucket shop" status. Heck I would have had some comments for their Youtube page.
If they are on purposly providing faulty software you think it might not have occured to them to provide false data?
IG markets has been caught many times for quoting customers a 20 point loss when it has only been 15.
Gain isn't "just an FCM" they are an OTC CFD provider. They are also the data provider. They don't use CQG or TT for data. Similiar companies like IG markets don't even let people comment on their Youtube videos because of their "bucket shop" status. Heck I would have had some comments for their Youtube page.
If they are on purposly providing faulty software you think it might not have occured to them to provide false data?
IG markets has been caught many times for quoting customers a 20 point loss when it has only been 15.
The OP stated this alleged malfeasance was going on with ES options. ES options are traded on CME and only on CME, there are no "bucket shops" making up their own prices for ES options. The OP also seems to think that GAIN is manipulating the worldwide price of ES options, which is just ridiculous. I don't have a dog in the hunt with GAIN or any other broker, I could care less if you use them or not or what name you've decided to give them in all capital letters. I do know that neither GAIN nor any other broker manipulates a multi-billion dollar options market to screw some guy out of a few thousand dollars, the OP flatters himself on his importance in the world of finance. Again, if you disagree with this then I'd suggest a hobby other than trading, which requires some modicum of ability to think through scenarios logically.
I am curious if you've actually tried to do what I advocate and been blocked, or you are just "pretty sure" it wouldn't work. Truth is no-one has ever shown me screen shots that it doesn't work, probably because the alleged manipulation isn't actually happening. Happy to be proven wrong though, would love to see you post those screen shots.