Question about lawsuit for broker

[DevBru]

has he mentioned he was with IB?

He did not, but that isn't even relevant.

GTC orders are never canceled at the end of the end of every day, with possibly a few exceptions like IB has.

Quote from CME website:

"Traders can also place orders that are valid until cancelled by the trader. These orders are typically called Good Till Cancel (GTC) orders and will remain active until the trader cancels the order or the order is filled."

 

[lasner]

You had to think a very long time about that come back yet you only showed you are clearly the one who doesn't know what hes talking about ... A GTC isn't a type of order you dumb ass, it is a setting for your order. You had to set your stop order as GTC instead of a stop order set as a day order.

And you want us to believe you own a broker? LOL

If you actually didn't check a box that clearly said that the order wouldn't trigger during whatever IB sees as the SI overnight hours, that is just as bad as not setting the order as a GTC order. 100% your fault.

You don't belong in the financial markets dude, too bad you didn't lose everything, it would have done you a favor.

Now fucking suck it up and stop behaving like a 3 year old who doesn't get their way. You fucked up, you suck. Move on.

No I didn't, I have a life and a business. Maybe I'm doing stuff and not living in my Mother's basement.

 

[MrMuppet]

He did not, but that isn't even relevant.

GTC orders are never canceled at the end of the end of every day, with possibly a few exceptions like IB has.

Quote from CME website:

"Traders can also place orders that are valid until cancelled by the trader. These orders are typically called Good Till Cancel (GTC) orders and will remain active until the trader cancels the order or the order is filled."

My bad then... thought silver was still traded on two different systems. It's been a while

 

[d08]

No I didn't, I have a life and a business. Maybe I'm doing stuff and not living in my Mother's basement.

With that attitude, you deserved the loss. Maybe stay away from trading.

 

[lasner]

Sorry to tell you but I don't think you have any chance in court. You are 100% responsible for the orders you put in. If the tech support cannot explain properly it's still your fault since it was just tech support...you put in the order.

Also TIF is also valid for stops, just FYI. You should also be aware of the fact, that GTC orders are only valid for the DAY session. Any remains will be cancelled at the end of it and they are not valid for the Globex session.

CME turns all stop loss orders into limit orders. So even if your stop is triggered during an overnight move, you might get jumped because your order isn't executed at market.

Just take it as an expensive lesson to carefully read how the exchange works before you put on a trade or place an order

The order was already executed it has nothing to do with a GTC. Even if you sign a form that says the broker is exempt from all responsibility and you hold all of the responsibility. That may not be legally binding in a court. i own a brokerage, you cannot sign away responsibility. You can have people sign that but that does not mean that will hold in court

 

[MrMuppet]

No I didn't, I have a life and a business. Maybe I'm doing stuff and not living in my Mother's basement.

Hey dude, no need to insult other people. You made a mistake and you're responsible for it.
This is trading. Mistakes cost money. Deal with it.

 

[MrMuppet]

The order was already executed it has nothing to do with a GTC. Even if you sign a form that says the broker is exempt from all responsibility and you hold all of the responsibility. That may not be legally binding in a court. i own a brokerage, you cannot sign away responsibility. You can have people sign that but that does not mean that will hold in court

So when the order was executed, where is the issue? I think you confuse order placement with order execution, right? If it was executed, you would have been filled

 

[lasner]

With that attitude, you deserved the loss. Maybe stay away from trading.

My bad then... thought silver was still traded on two different systems. It's been a while

Do you even understand the question? There is an after hours market in Silver, do you get that. If a stop loss is not properly executed it will not go into effect in the after hours market. My God, this is why I will never post a question on here. A lot of Liability disclaimers do not hold in court. If I sign something that states the broker isn't liable, that doesn't mean he's not liable. The court will have to decide that.

 

[lasner]

So when the order was executed, where is the issue? I think you confuse order placement with order execution, right? If it was executed, you would have been filled

The issue is in the stop loss and the advice that is given on the stop loss.

 

[lasner]

Hey dude, no need to insult other people. You made a mistake and you're responsible for it.
This is trading. Mistakes cost money. Deal with it.

No, he insulted me and he can't even read a question. I'm not going listen to his insults