Can I sue a broker for doing this?

Quote from JackR:

You said you:
were short 25,000 shares.
you received a "regular maintenance call".
werre down $37K in the position.
had an $80K surplus.

Was this all at the same time?

You also stated the broker only covered 20,000 shares, leaving 5,000 shares.

What was the amount of the "regular maintenance call? How much more than $80K, Something is missing here.

Also, the broker only liquidated 20,000 shares out of 25,000 leaving you net short 5,000 shares.

Forgetting the number confusion as to the margin call, it seems to me that depending on the actual margin agreement you signed, the broker merely liquidated sufficient to bring you into compliance with the margin agreement. If so, I cannot see how legal action would benefit you.

Jack
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I am still short 5,550 shares. I incurred a regular maintenance call. By covering 20,000 shares my equity as a percentage of market value was brought up to 55%. The 80 surplus is an approx figure.
 
Quote from zorro1:

In the interest of brevity, go back and read my earlier post. I forgot, you don't comprehend things that you read.
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Your stop loss has been hit, akeyla. Close the position.
 
Quote from JimyJam:

Nope, I've got plenty and add plenty of positive content to boot.

But I do enjoy going a few with clowns like you who showup to whine about how much they've lost, and then look to lay the blame on someone else (hey, I know, LET'S SUE THE BROKER! ... isn't that original!).

Sad,

JJ
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you are the clown as you've proven over time and a person without a life. I am not trying to lay the blame on someone else - jackass.
 
Quote from JimyJam:

brokerboy is just giving you the paint-by-the-numbers version of why you were wrong.

We've all told you the exact same thing in so many words, but you're still arguing and crying about your loss (that could have resulted in bankruptcy for you if broker hand't have taken the actions that it did and the stock started to go parabolic).

You aren't too bright, are you. :eek: :confused:

Please keep trading,

JJ
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Much brighter than you. You don't trade period. Just bs over here. A person who has no life and spends all his time on this board can't be a trader.
 
Quote from zorro1:

I am still short 5,550 shares. I incurred a regular maintenance call. By covering 20,000 shares my equity as a percentage of market value was brought up to 55%. The 80 surplus is an approx figure.
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In other words, your risk management is non-existent. You've made a fundamental trading error. This post proves it. Thanks for admitting it. Maybe you can learn from this massive error and the next time you won't be so ridiculously leveraged in one stock which represent such a huge portion of your account.

Don't bother thanking me. Just remember, do the ET searches, implement some risk management and next time, don't make an ass of yourself by forgetting which username you're posting under.
 
this is just terrrible. I have a friend who hates to be corrected. and yes, he still buys the highs and sells the lows. I cannot consult him on anything without him getting all defensive, because lets face it, he is always right. Next time you put on a trade, think of what you will lose or could lose before you divi how much profit to pull from a situation. Next time you post looking for help of feedback, take it in the most modest sense. After all, you did let everyone know what happened, from which anyone with experience will find an unpleasant laughter. get a demo account and do your strategy all over again. it never works. use your capital wisely and ration it to many cards. You will lower your market and systemic risk while increasing your chances for success. Lever up on one idea and have the same turnout of a lottery ticket, then come on et and ask others if you have a case to sue your local bucketshop. great way to gain a rep with the brokers. good luck.
 
Quote from traderNik:

In other words, your risk management is non-existent. You've made a fundamental trading error. This post proves it. Thanks for admitting it. Maybe you can learn from this massive error and the next time you won't be so ridiculously leveraged in one stock which represent such a huge portion of your account.

Don't bother thanking me. Just remember, do the ET searches, implement some risk management and next time, don't make an ass of yourself by forgetting which username you're posting under.
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Screw you trader pr--k.
 
Quote from PARACLESE:

this is just terrrible. I have a friend who hates to be corrected. and yes, he still buys the highs and sells the lows. I cannot consult him on anything without him getting all defensive, because lets face it, he is always right. Next time you put on a trade, think of what you will lose or could lose before you divi how much profit to pull from a situation. Next time you post looking for help of feedback, take it in the most modest sense. After all, you did let everyone know what happened, from which anyone with experience will find an unpleasant laughter. get a demo account and do your strategy all over again. it never works. use your capital wisely and ration it to many cards. You will lower your market and systemic risk while increasing your chances for success. Lever up on one idea and have the same turnout of a lottery ticket, then come on et and ask others if you have a case to sue your local bucketshop. great way to gain a rep with the brokers. good luck.
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You can also f==k off.
 
Quote from JimyJam:

Sure you are, look at the title of the thread dummy:

"Can I sue a broker for doing this?"

The answer is "Hell no, they probably saved your ass"

OK, DO YOU GET IT NOW???:confused:

Sheesh! ... :D

JJ
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Just go on with your no life. I don't want your input brilliant trader
 
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