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Open letter to TradeStation and my disenchantment
- Thread starter GordonTheGekko
- Start date
GordonTheGekko
Guest
Quote from GordonTheGekko:
An 18 year old Harvard freshman, who happens to be a friend of a friend, was looking forward to investing with my help. I had never used TradeStation, but other buddies have with great satisfaction, so I recommended it to her.
Unfortunately, TS and their infinite wisdon decided to not allow anyone under 21 to sign up. Furthermore, they have frankly silly policies by EXCEEDING finra rules, obviously because of some misplaced notion of saving money by not allowing "unexpirenced" investors, a poor stereotype if I've ever heard of one.
This disenchament will forever prevent me from completing my switch to TradeStation (for my personal accounts).... get with it TS. Also please don't show of windows XP in your commercials...
Who cares that they went to harvard? Do they have any common sense??????
Quote from GordonTheGekko:
An 18 year old Harvard freshman, who happens to be a friend of a friend, was looking forward to investing with my help. I had never used TradeStation, but other buddies have with great satisfaction, so I recommended it to her.
Unfortunately, TS and their infinite wisdon decided to not allow anyone under 21 to sign up. Furthermore, they have frankly silly policies by EXCEEDING finra rules, obviously because of some misplaced notion of saving money by not allowing "unexpirenced" investors, a poor stereotype if I've ever heard of one.
This disenchament will forever prevent me from completing my switch to TradeStation (for my personal accounts).... get with it TS. Also please don't show of windows XP in your commercials...
TS did the right thing actually.
GordonTheGekko
Guest
Everyone is assuming I mentioned Harvard to mean they had common sense or were smart, interesting.Quote from tradin4profits:
Who cares that they went to harvard? Do they have any common sense??????
I was making reference to a secure (personally) college student, thats all.
Obama went to HLS. Along with plenty of other nuts, every school has them.Quote from jprad:
+1
Obama's more than proof that it's not a criteria for admission.
GordonTheGekko
Guest
I think someone who actually believes trading is so difficult that anyone under the age of 26 (because age is a great measure of competence) shouldn't day trade is clearly stating how big their losses are... do you honestly believe trading is difficult to do day in and day out? I have a question, how do you lose money? Especially when trading can still work while GUESSING? Like I said, the Dow went from a few points to over 1000 in the last century, and that was just for investors. We're day traders... if you can't make a buck....Quote from intradaybill:
Investing via TS? You must be pulling legs here. You can invest through Fidelity. TS is for speculators who understand the market risks. In my opinion, an 18 year old has no business trading. Should be studying hard to try to get as much education as possible. Of course there are different views on this. I believe that the minimum age for speculative trading should be set at 26.
Quote from GordonTheGekko:
Everyone is assuming I mentioned Harvard to mean they had common sense or were smart, interesting.
I was making reference to a secure (personally) college student, thats all.
Cut the crap. If you wanted to accentuate her personality you would have just said she's attending college.
As soon as you mentioned Harvard that became secondary because of that school's reputation and its exclusivity of admission.
GordonTheGekko
Guest
Yes although dropping tier one school names on Wall Street is no big deal at all, especially considering most everyone is an alumni of suchandsuch (Wharton, Westpoint, Harvard, etc.). Sorry for the confusion. Also incase you're probably wondering, frankly flagship state schools and BIG10 schools are equally good as the typical Wall St feeders.Quote from jprad:
Cut the crap. If you wanted to accentuate her personality you would have just said she's attending college.
As soon as you mentioned Harvard that became secondary because of that school's reputation and its exclusivity of admission.
TS is a great firm, and I know they're trying to make the right choices for them and their customers. Also when I said it will stop me from switching to TS, that probably won't be true, I'm simply a little disappointed to having a company reject for odd reasons when this is about consumer choice. I'm sharing why I think the under-21 rule doesn't help in curbing exploding investors, or raising the minimum finra investment to $30k. Doesn't make sense. That's the sort of thing you do with margin requirements, caps, ban on market orders, etc.