Bad experience with Cannon/Gain 2

[Fonz]

My first thread has been closed. I hope this one will survive, and closing my 1st thread was just a misunderstanding.

I just received this apologies directly from Gain (not from Cannon), and I want to thank them for that:


Dear Customer,

We wanted to inform you that due to a processing error, you may see duplicate and/or erroneous trade(s) in your account(s). We are currently reviewing all impacted accounts and have made or are making any corrections, as applicable. We kindly ask that you review your account statement(s) for trade date 2/22/21 and on-line trading platform(s) currently to ensure the status of your account(s) is correct including all executed trades and/or open position(s).

We sincerely apologize for any inconvenience this may have caused. Should you identify any trade(s), position(s) and/or corrections that you believe are required in your account(s), please send all correction requests to gfoperations@gaincapital.com.

Thank you as always.

GAIN Futures Client Services

 

[Fonz]

I will now always record my trading sessions + my own comments if necessary.
I already found ShareX, OBS (Open Broadcaster Software) and Overwolf recording. Hopefully one of them will help.

 

[Fonz]

I want to add that I like to share good and bad experiences. This is how we progress. This is how a great forum like Elite helps us to progress.
Thank you Elite.

 

[rb7]

Shit can happens.
Especially with technologies. And trading involve a lot of it.
We have our computer, our ISP (Internet), our brokers, the exchanges, the market data vendor (who provides market data to brokers), and everything else between them.

There is no way to be at 100% ready for everything, but we must accept that sometimes, shit happens. And the only way to live with it is to have contingency plans and backups.

When shit related to technology happens, trying to find a guilty is IMO a big waste of time and energy.

Whatever you use as a service to trade, one day something will go wrong. In your case is was Cannon/Gain, last week AMP, a couples of weeks ago it was IB. Sometimes exchanges go down.

With all the technologies and interconnections and entities involve, it's surprising that shit doesn't happen more frequently.

 

[DiceAreCast]

Wow, closed? Really? This is the power paying advertisers have. Pay money to delete negative press. I sympathize with your situation as I indicated in my post in the closed thread. I hope you can smoothly close your account and move to a more reputable broker. For what it's worth, I never even once had such experience in my 18 years with IB.

I would STRONGLY advise you not to remain with a broker who repeatedly (according to your own shared experience) exposed you to fictitious positions that you subsequently had to hedge or close. There is a reason why the term track records generally are used to extrapolate into the future: repeated bad behavior usually occurs again in the future. Don't be the fool that gets shafted another time.

And risking to be banned or sidelined, I think the decision by Baron to entirely delete the previous thread was a poor decision. It enables those who failed and misbehaved to not be held accountable and instead just pay money to have negative feedback erased, even when that feedback was backed up by facts. Nobody, myself included, used foul language in the previous thread otherwise the thread would have remained open and only those who used foul language would have been put on a "break". No, it appears as if the thread had its intended effect to expose REPEATED wrongdoing of your broker and the broker knew that its gonna cost them re reputation. The problem is that here the feedback was completely fair and warranted. Pay some money to make it go away, not cool at all. It enables poor accountability.

 

[DiceAreCast]

Sure, things happen. How they are dealt with is what makes all the difference. Informing clients in a timely manner VS staying silent until wrongdoing is publicly exposed and then attempting to shoot the customer when the fault 100% lies with the broker. And taking no responsibility and risking another repeat is the icing on the cake. I don't think your recommendation adds much value. Shutting up, putting up, and moving on enables bad apples to continue with poor oversight and operations to just go on. When shit happens I think we should be honest about it and ask questions and demand evidence to show that improvements are being implemented. If not then close business with those bad apples and move funding to a more reputable shop.

Shit can happens.
Especially with technologies. And trading involve a lot of it.
We have our computer, our ISP (Internet), our brokers, the exchanges, the market data vendor (who provides market data to brokers), and everything else between them.

There is no way to be at 100% ready for everything, but we must accept that sometimes, shit happens. And the only way to live with it is to have contingency plans and backups.

When shit related to technology happens, trying to find a guilty is IMO a big waste of time and energy.

Whatever you use as a service to trade, one day something will go wrong. In your case is was Cannon/Gain, last week AMP, a couples of weeks ago it was IB. Sometimes exchanges go down.

With all the technologies and interconnections and entities involve, it's surprising that shit doesn't happen more frequently.

 

[benwm]

I recall posting three negative reviews about MF Global about a decade ago, prior to their collapse. Baron sent me a PM that he would only accept the first one, which was fair enough at the time.

Although in hindsight that may have been a mistake..

 

[Fonz]

For what it's worth, I never even once had such experience in my 18 years with IB.

Thank you for sharing that.
And with my other broker, Tradestation, I never had any experience as bad as this one.

Don't be the fool that gets shafted another time.

I wont. You are absolutely right.

And risking to be banned or sidelined, I think the decision by Baron to entirely delete the previous thread was an incredibly poor decision on their part.

So far the thread has been closed but not deleted.

With this thread (same title than the precedent), I also wanted to share good experiences, when that happens.

 

[rb7]

Wow, closed? Really? This is the power paying advertisers have. Pay money to delete negative press. I sympathize with your situation as I indicated in my post in the closed thread. I hope you can smoothly close your account and move to a more reputable broker. For what it's worth, I never even once had such experience in my 18 years with IB.

I would STRONGLY advise you not to remain with a broker who repeatedly (according to your own shared experience) exposed you to fictitious positions that you subsequently had to hedge or close. There is a reason why the term track records generally are used to extrapolate into the future: repeated bad behavior usually occurs again in the future. Don't be the fool that gets shafted another time.

And risking to be banned or sidelined, I think the decision by Baron to entirely delete the previous thread was an incredibly poor decision on their part. It enables those who failed and misbehaved to not be held accountable and instead just pay money to have negative feedback erased, even when that feedback was backed up by facts. Nobody, myself included, used foul language in the previous thread otherwise the thread would have remained open and only those who used foul language would have been put on a "break". No, it appears as if the thread had its intended effect to expose REPEATED wrongdoing of your broker and the broker knew that its gonna cost them re reputation. The problem is that here the feedback was completely fair and warranted. Pay some money to make it go away, not cool at all. It enables poor accountability.

Who's paying for this site to be live?
Is it you?
The posters?
No. It free and open to anyone who'd like to participate.
In exchange, some entities are paying to advertise on this site.
I guess not everybody is understanding that capitalism concept.
It's surprising cause this is a forum on Trading, probably one of the most capitalist concept of capitalism...

Who's the owner of this site?
Is it you?
The posters?
Again, no. It's owned by a guy who has its own rules.
If someone or a sponsor disagree with his decision, he can leave. No one is force to participate on this site/forum. Baron has to manage the equilibrium between both participant types.

I'm not saying who's right and who's wrong in this particular case (Cannon/Gain vs Fonz), cause I have no idea. I'm not saying that Fonz is wrong. He may be right. And that's not the point.

My intention was not to defend Baron, Fonz or Cannon/Gain.

 

[Fonz]

As I mentioned in this thread, and I mean it:

"I want to add that I like to share good and bad experiences. This is how we progress. This is how a great forum like Elite helps us to progress.
Thank you Elite."