IB and trash talking...

[giles117]

Quote from makloda:


Yet a couple kids always switch over with their 5k college savings account from eTrade and then start flame wars because "customer service is bad". Sorry, if you need somebody to hold your hands go back to eTrade.

Heck... Etrade only Pretends to hand hold while they hook the siphon up to your wallet.

 

[Wetton]

Quote from traderich:

To the a$$hole who was calling me a liar:

I was at work when the EP incident happened. Perhaps I wasn't clear about exactly what happened-

My pc was "ON" since 7:30 am when I got into work. My pc has a screensaver, so it 'shuts off' if no activity after a few minutes.

I put my market order in well before the market opened.

I was out on the shop floor doing some work and returned to my desk at about 9:35 to see what the market was doing and that is when I moved my mouse and my monitor turned back on from its powersaver mode.

So, to the F*** a*hole who called me a liar, go F*** yourself.

As far as the confirmation goes, should I assume that NO confirmation is really confirmed unless they deem it to be at some later time?

As far as I know, Brown and Company's order flow was through their market maker and he had the shares @ 7.10. So what would have happened if the stock gapped down and I got filled at 7.10, would I then go back and say "hey how did you fill my order at 7.10, the stock gapped down to 6.30?"

Point is Brown and Company gave me a bogus confirmation and tried to back out of it to the tune of about $2500.

A confirmation is a confirmation. Whether it was a market order or not.

Also, I use market orders all the time and will today as well. The reason is that I want to be filled at that time. I realize that some scummy brokerage houses will use market orders to f*** you over as much as possible, so far IB has been very good to me.

But you did lie, now didn't you?

As for accusing you, I've accused you of nothing. Your own conscience tells you that you are lying. Hence your reply to my post whereby I simply pointed out the inconsistencies in your "story".

No one ever wants to stand up and say "Gee, I screwed up. Guess I've learned a lesson".

In your case, you made a very stupid trade by placing a MARKET order on the open. Regardless of the confirmation or bumbling on the part of Brown, you started the chain of events which resulted in your loss. Now all you have to do is own up to it.

Instead, it is somehow their fault. Did you not think to check the high low on the day? Did this seem possible to you?

As for your defence that the stock CLOSED the previous day at $7.10 and by your reasoning it was only reasonable to receive a fill THE NEXT DAY at this price is laughable. Maybe do a quick check tonight and see how many stocks open at the same price they closed at the previous day. Hmmm, maybe this is what people mean when they speak of OVERNIGHT RISK.

I used to work in the industry and you are the typical numbskull client who THINKS he is the cat's meow but in the end really knows nothing. You blame others for your mistakes and there is no end to it. Be a man, take responsibility. If I remember the Brown commercials, they used to offer very low commissions for SOPHISTICATED investors who did not need any hand holding. It looks like you misrepresented yourself to them when you opened the account. And now you are very happy with IB, but already they have screwed up on a stop loss order for you. Amazing, how many bad brokers you seem to have. I've been trading for a long time with no problems. Oh wait, that's right, I take responsibility for my own actions. I'm sure it won't be too long before you are criticizing IB for your mistakes.

As for me being an asshole, if pointing out your inconsistencies and stupid actions makes me an asshole, I'm very happy to fill the role. So long LIAR.

 

[TradeViper]

Trade, just a piece of friendly advice, if you keep using market orders, or limits and stops that convert to market orders you will, one day, get hammered. What will happen is that you will want to buy at x so you put in some kind of market order and the price will gap to x + 100, you will fill at x +100, then the price which is now waaayyyyyy over bought, will reverse back to the mean, 50, 60, 100% retrace and you will be sitting there with a big loss. Just trying to help

The Ever Vigilant VIPER

 

[BCE]

Quote from traderich:



I just switched to IB and am very impressed so far.

The key words being "SO FAR". Why defend a broker you just signed up with? I'm with IB too and like many things about them but have had a number of bad fills or other orders, shorts for instance, that supposedly went through and when I thought I had covered them I found out the initial short hadn't gone through and I was thus long the contract which was falling. Didn't work for me.