Can I sue a broker for doing this?

[FanOfFridays]

Quote from zorro1:
I want to know if I can take legal action.

Quote from zorro1:
I am not trying to lay the blame on someone else

!!!!!!!

Oh man, this is getting sad. It's like watching a newb trader who has risked his entire account on one position and now the position is going against him and he is like a deer in the headlights, he can't take the loss and just get out, and then the stock comes back to the point where he could have a reasonable loss and still he refuses to get out, and then the stock goes against him again and his broker closes the position...

This guy just does not know when he's getting his ass kicked and keeps posting/trading even though he should just shut it down.

Makes you realize how retail newbs like zorro1/akeyla lose their entire account on one trade and then come on here whining and asking if they should sue their broker to get their money back.

Sad...

 

[zorro1]

Quote from traderNik:

!!!!!!!

Oh man, this is getting sad. It's like watching a newb trader who has risked his entire account on one position and now the position is going against him and he is like a deer in the headlights, he can't take the loss and just get out, and then the stock comes back to the point where he could have a reasonable loss and still he refuses to get out, and then the stock goes agianst him again and his broker closes the position...

This guy just does not know when he's getting his ass kicked and keeps posting/trading even though he should just shut it down.

Makes you realize how retail newbs like zorro1/akeyla lose their entire account on one trade and then come on here whining and asking if they should sue their broker to get their money back.

Screw you trader p--k. Then there is this other matter - your comprehension level is negligible to non-existent

Sad...

 

[zorro1]

Quote from JimyJam:

ROTF ... he was on your side, dumbshit!

Oh man, that's it, you're too much kid , I wish you good luck, because you're gonna need it ... real bad.

Jimmy Jam

He wasn't on my side you stupid piece of crap. Not only are you dumb, have no life but can't understand the English language.

 

[zorro1]

Quote from JimyJam:

I'm curious ... did you take the short bus to school, by chance?

JJ

Never mind what bus I took. You are too dense to have even completed high school.

 

[ProfitTakgFool]

Are you suggesting that it's the brokers responsibility to babysit the client's positions? If that's the case, it's a bizarre idea. If I'm misunderstanding you, I apologize in advance.------------->>>>> Oh no, I'm suggesting the broker should have protected their <b>Own</b> interests by liquidating the position before the close. This position never should have made it to the next day.

Quote from traderNik:

It's very surprising to see an apparently level-headed contributor suggest that this is a 'muddy' situation. Obviously you don't believe that MBT hasn't drawn up its contract in such a way that it is essentially their discretion as to whether they liquidate once valid conditions are met? Someone posted, with regard to a complaint about IB, that brokers cannot simply take money from your account and then claim its covered in the contract you signed, and that an arbitrator might find in favour of a client if there was an obvious and aggregious disregard for the rights of the client.

In this situation, could it be clearer that this is the clients fault? It seems that the client was ridiculously overleveraged, had no concept of position size relative to capital, and essentially created this problem. You seriously think that he would stand a chance in arbitration?

I feel it is actually bad advice to tell this person to go to a lawyer. It'll just be more money down the drain.

Please see sarah_iru's post above. Is this an accurate description of the circumstances? If so, it's game over. In any case, it doesn't make any difference. The guy was trading with no risk control.


Are you suggesting that it's the brokers responsibility to babysit the client's positions? If that's the case, it's a bizarre idea. If I'm misunderstanding you, I apologize in advance.

 

[ProfitTakgFool]

I didn't say they should have gotten you flat, they should have gotten you down to 2x, or whatever their overnight margin limits are. It just so happened that in my case I was planning on getting flat anyway but the broker too me down to 2x in the final 15 min's.

Quote from zorro1:

My god, how can people be so stupid. I did not and cannot exceed by day trading buying power. I exceeded my overnight buying power. As for the other guy the broker has no right to get me flat by the end of the day. You are allowed to exceed your overnight buying power. It will result in a reg T call and I am well aware of that. Will you people please go and read up on the rules before making such outrageously inaccurate statements.
The 2nd violation will result in freezing your account for 90 days during which you are only allowed to liquidate positons.

 

[PARACLESE]

You obviously do have problems with comprehension as I was only trying to point out that next time you could avoid such problems by thinking ahead. Is it that the only response you could be looking for is "yes, that motherfriggin broker!! you definitely have a case, I would never accept a loss if it was not mine" , is that it? This same friend refered to in the previous post calls me during the trading day with the market plummeting, asking me if this company that is up three on the day is a good buy. He then goes on to say about some contract and catalyst bullshit yada yada yada, until I cut him off and say I am going to short it. He then gets upset saying I am only trying to make him feel bad and that "I know everything, and everyone else is always wrong". No, it is just that the odds are stacked in my favor for that particular trade and really has nothing to do with the particular company, just the companies time and place in an overvalued marketplace. Like you my friend has no rules. but nothing we do has no rules. Rules are also not made up in individual circumstance(you do not reinvent how to make money in the markets). If you read any damn trading publication they are almost verbatim, all of them. there is a reason for this. Risk management can also be found in these books. Have you read any books when you first started trading?

 

[zorro1]

Quote from PARACLESE:

You obviously do have problems with comprehension as I was only trying to point out that next time you could avoid such problems by thinking ahead. Is it that the only response you could be looking for is "yes, that motherfriggin broker!! you definitely have a case, I would never accept a loss if it was not mine" , is that it? This same friend refered to in the previous post calls me during the trading day with the market plummeting, asking me if this company that is up three on the day is a good buy. He then goes on to say about some contract and catalyst bullshit yada yada yada, until I cut him off and say I am going to short it. He then gets upset saying I am only trying to make him feel bad and that "I know everything, and everyone else is always wrong". No, it is just that the odds are stacked in my favor for that particular trade and really has nothing to do with the particular company, just the companies time and place in an overvalued marketplace. Like you my friend has no rules. but nothing we do has no rules. Rules are also not made up in individual circumstance(you do not reinvent how to make money in the markets). If you read any damn trading publication they are almost verbatim, all of them. there is a reason for this. Risk management can also be found in these books. Have you read any books when you first started trading?

Look, you don't know all the facts surrounding this situation. So stop making these dogmatic and pedantic statements.

 

[ProfitTakgFool]

LOL, welcome to ET Sarah. I bet you're sorry you signed up. You give someone good advice and you get called, "stupid." ET at its finest......

Quote from zorro1:

No, I am referring specifically to you. After this post you come across as being beyond stupid.

 

[captain_trips]

Can I sue my hooker for this??

....she gave me crabs : (