future firm protection

jimrockford · Oct 29, 2006

I have gotten PM asking my opinions on specific futures clearing firms.

Sorry, I don't have time to analyze individual firms and give my opinions on them. I have also greatly reduced the time I spend on ET, because of all the abusive behavour I have experienced on the site, and because the site is infested with confidence men posing as traders. I'm no longer willing to work on contributing very much to ET, because the owner of ET is not doing his part to limit the abusive behavour so that serious discussions can thrive. I also keep criticism about specifically identified firms to a minimum, in order to avoid defamation suits. I suggest my past postings, which took a LOT of my time and earned me a LOT of abuse, be taken as a mere introduction to the problem of broker bankruptcy risk, and that it is up to you to take the initiative to learn more from sources other than me.

zdreg · Oct 29, 2006

I doubt that you generate enough interest to be subjected to a defamation suit.

romik · Oct 29, 2006

When you trade shares on margin you pay interest, how many of you have ever paid interest holding a future contract on a margin? And if you haven't does that mean that you are holding a "virtual" contract?

Triple X · Oct 29, 2006

I wonder if the products leverage has something to do with the level of insurance that is provided?

It seems to me, in this business only retail equity trading accounts are afforded govt. insurance. Prop traders, who receive 20+ times leverage put up risk money with no insurance. Futures and FX have the greatest levels of leverage involved.

jimrockford · Oct 29, 2006

Quote from zdreg:

I doubt that you generate enough interest to be subjected to a defamation suit.

You are right, I don't generate it, and I aim to keep it that way. This is one of the reasons I will not spoonfeed ET members by attempting to perform their due diligence investigations for them.

Surdo · Oct 29, 2006

Rockford:

I do not understand why you continue to post on this board?
Just delete the bookmark, it will be better for all.

jimrockford · Oct 29, 2006

Quote from Surdo:

Rockford:

I do not understand why you continue to post on this board?
Just delete the bookmark, it will be better for all.

Surdo,

I made substantial efforts to contribute to this thread. You've done nothing, since the beginning, but post emptyheaded insults. I couldn't care less if you understand why I continue to post on EliteTrader, or if you think I should leave EliteTrader completely. It is because Baron tolerates your type of behavour, that I am no longer willing to spend much time contributing to EliteTrader.

zdreg · Oct 30, 2006

Quote from jimrockford:

I have gotten PM asking my opinions on specific futures clearing firms.

Sorry, I don't have time to analyze individual firms and give my opinions on them. I have also greatly reduced the time I spend on ET, because of all the abusive behavour I have experienced on the site, and because the site is infested with confidence men posing as traders. I'm no longer willing to work on contributing very much to ET, because the owner of ET is not doing his part to limit the abusive behavour so that serious discussions can thrive. I also keep criticism about specifically identified firms to a minimum, in order to avoid defamation suits. I suggest my past postings, which took a LOT of my time and earned me a LOT of abuse, be taken as a mere introduction to the problem of broker bankruptcy risk, and that it is up to you to take the initiative to learn more from sources other than me.

please list your favorite future firms.