Question about lawsuit for broker

[DevBru]

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

The issue is you didn't check a box that clearly said the order wouldn't be executed outside regular hours, or you didn't set the order as GTC. Both are your fault, you should check the settings of the orders you sent to the market.

You asked your broker to explain on how to place an order, they clearly did since you did place the order. You fucked up the settings, suck it up.

Damn this thread really is pathetic ...

 

[d08]

If a stop loss is not properly executed it will not go into effect in the after hours market.

What the hell does that even mean? Either it's executed or it isn't (or partially). You don't seem to know the difference between DAY vs. GTC validity. You seem to not know the basics.
And if the broker didn't know how to make the stop GTC, why did you assume it would work?

 

[lasner]

What the hell does that even mean? Either it's executed or it isn't (or partially). You don't seem to know the difference between DAY vs. GTC validity. You seem to not know the basics.
And if the broker didn't know how to make the stop GTC, why did you assume it would work?

You have an after hours market. That is what I'm trying to explain. It would not be a full stop loss. It would be a stop loss that only goes into effect during regular trading hours. There are regular trading hours then there is an overnight market. The stop loss they showed me to set up is only for regular trading and not after hours. So in the after hours market the stop does not go into effect. That is my beef, they showed me the incorrect stop loss and I lost money based on what they told me.

 

[lasner]

What the hell does that even mean? Either it's executed or it isn't (or partially). You don't seem to know the difference between DAY vs. GTC validity. You seem to not know the basics.
And if the broker didn't know how to make the stop GTC, why did you assume it would work?

Again, it has nothing to do with GTC

 

[lasner]

The issue is you didn't check a box that clearly said the order wouldn't be executed outside regular hours, or you didn't set the order as GTC. Both are your fault, you should check the settings of the orders you sent to the market.

You asked your broker to explain on how to place an order, they clearly did since you did place the order. You fucked up the settings, suck it up.

Damn this thread really is pathetic ...

They did not, they showed me the wrong order. That is my beef and I lost money on it.

 

[DevBru]

They showed me the incorrect stop loss.

No they did not, a stop order is a stop order. You didn't properly check the settings of the order you sent to the market.

Notice the you and you. You and only you are responsible.

 

[lindq]

They did not, they showed me the wrong order. That is my beef and I lost money on it.

The error is clearly yours, in that you did not research and nail the procedures PRIOR to entering the trade in the first place.

Your post isn't unlike hundreds I've seen here over the years, with traders asking advice in how best to exit a position, after they're already in it.

All exit options should be researched and TESTED before entering, not after.

 

[fan27]

Wait, WAT? He shouldn't care that they instructed him wrong because if the market action had been totally different than it was he would have been better off with their bad instructions? Sorry man, that is INSANE. I hope you are trolling with that one lol...

Did he specifically say I want a stop order that is going to get executed during the extended trading session? I bet he did not.

 

[lasner]

I just got off the phone with an attorney. He told me I have every right to file and should win based on:

· Law of Negligence – The brokerage should not give advice, they are negligent in the advice they gave and I lost $3,700 due to their negligent advice. They should not give advice.

· Promissory estoppel – contract clause

· Adhesion contract – They are forcing you to sign the contract to do business. I am a consumer with weaker bargaining power and they are a business with stronger bargaining power. They are basically forcing me to sign their contact with their liability clauses.

· They can not force me to pay their legal bills in small claims court.

 

[lasner]

No they did not, a stop order is a stop order. You didn't properly check the settings of the order you sent to the market.

Notice the you and you. You and only you are responsible.

I just got off the phone with an attorney. He told me I have every right to file and should win based on:

· Law of Negligence – The brokerage should not give advice, they are negligent in the advice they gave and I lost $3,700 due to their negligent advice. They should not give advice.

· Promissory estoppel – contract clause

· Adhesion contract – They are forcing you to sign the contract to do business. I am a consumer with weaker bargaining power and they are a business with stronger bargaining power. They are basically forcing me to sign their contact with their liability clauses.

· They can not force me to pay their legal bills in small claims court.