Troubles with Scottrade..
- Thread starter motyeh
- Start date
These dishonest brokers are one of the reasons why a trader spent so much time in the dark searching for the light at the end of the tunnel.
Looking back, I am totally disgusted at the way Scottrade treated me: front-running constantly. On many occasions, I sent market orders and didn't see any execution for minutes, and I couldn't cancel the market orders. In the meantime, Scottrade data and chart were completely lagging in a fast-moving market.
If you are losing money, check if you have a bad broker first. You don't want to blame the market for your losses, but the market presented to you is the one brought to your computer screen by your broker. If your broker brought to you a crooked market, yes, you can blame the "market." It's the broker's "market," not the real market.
GUESS WHO KNIGHT TRADING IS????????????????
SCOTTRADE IS OWNED BY KNIGHT TRADING!!!!!!!!!!!!!!!!
IN OTHERWORDS THEY ARE SELLING YOU STOCK FROM THEIR OWN STOCK POOL!
WHEN I FIGURED OUT WHAT THEY WERE DOING I CLOSED MY ACCOUNT WITH THEM WHILE I STILL HAD SOME MONEY LEFT=HALF OUR ORIGINAL ACCOUNT AMOUNT!
IT WAS A TRADE WITH APPLE THAT BROKE THE CAMELS BACK
APPLE HAD BEEN WAFFLING AROUND ALL DAY LONG AROUND 139.-IT WAS ACTING GOOFY SHOWING SOME WEAKNESS AND THE MARKET MAKERS WERE NOT LETTING IT GO ANYWHERE-SO THEY LET IT DROP AND BREAK THRU A LOT PEOPLES STOPS ALL THE TO 133. IN A MATTER OF A MINUTE AND A HALF-I PLACED A MARKET ORDER-NOT EVEN A LIMIT ORDER AT THE OR NEAR THE BOTTOM OF THE PLUNGE-ORDER NEVER FILLED-SCOTTRADE WOULD NOT HONOR THE TRADE EVEN THOUGH I HAD SCREEN SHOT SHOWING I WAS CONNECTED AND THAT I REALLY HAD PLACED THE ORDER-I HAD A 10 MEG STREAM FROM COMCAST FOR MY CONNECTION-SCOTTRADE SAID MY SERVICE WAS INTERUPTED DURING THE TRADE,THAT IS WHY THEY NEVER RECIEVED IT AT THEIR ORDER DESK-COMCAST VERIFIED NO SUCH THING OCCURRED!
SCOTTRADE WOULD NOT HONOR MY TRADE!!!!!!!!!!!!!!!!!!!!!!
EVEN AFTER THREATENING TO LEAVE THEM-THEY HAD MADE A LOT OF MONEY OFF OF US IN 5 MONTHS-WE TRADED 7 MILLION DOLLARS WORTH OF STOCK IN 5 MONTHS-MOST STOCKS WERE UNDER $15.00 A SHARE!
ANYWHO
I FIGURED OUT THEY COULD NOT SELL ME STOCK FROM THEIR HOLDINGS BECAUSE THEY PAID MORE THAN I DID FOR IT-AND THEY NEVER ROUTED MY ORDER TO THE EXCHANGE!
THAT TRADE WOULD HAVE GROSSED ME 6-12 GRAND,THE WAY THE STOCK MOVED OVER THE NEXT DAY-I WAITED FOR A WEEK TOO MAKE THAT TRADE!
I WAS NOT ONE OF THOSE TRADERS WHO LEFT HIS DESK-I WORKED A FULL SHIFT AN HOUR BEFORE MKT OPEN AND SOMETIMES AFTER HOURS TRADING
ANYWHO THAT CHAPPED MY HIDE AND I SAID I WAS DONE TRADING WITH SCOTTRADE AFTER THAT HAPPPENED-SHAME ON THEM-AND THAT WAS NOT THE FIRST TIME I SCREWED BY THEM-BUT IT WAS THE LAST!
Quote from hottpotat0:
GUESS WHO KNIGHT TRADING IS????????????????
SCOTTRADE IS OWNED BY KNIGHT TRADING!!!!!!!!!!!!!!!!
IN OTHERWORDS THEY ARE SELLING YOU STOCK FROM THEIR OWN STOCK POOL!
WHEN I FIGURED OUT WHAT THEY WERE DOING I CLOSED MY ACCOUNT WITH THEM WHILE I STILL HAD SOME MONEY LEFT=HALF OUR ORIGINAL ACCOUNT AMOUNT!
IT WAS A TRADE WITH APPLE THAT BROKE THE CAMELS BACK
APPLE HAD BEEN WAFFLING AROUND ALL DAY LONG AROUND 139.-IT WAS ACTING GOOFY SHOWING SOME WEAKNESS AND THE MARKET MAKERS WERE NOT LETTING IT GO ANYWHERE-SO THEY LET IT DROP AND BREAK THRU A LOT PEOPLES STOPS ALL THE TO 133. IN A MATTER OF A MINUTE AND A HALF-I PLACED A MARKET ORDER-NOT EVEN A LIMIT ORDER AT THE OR NEAR THE BOTTOM OF THE PLUNGE-ORDER NEVER FILLED-SCOTTRADE WOULD NOT HONOR THE TRADE EVEN THOUGH I HAD SCREEN SHOT SHOWING I WAS CONNECTED AND THAT I REALLY HAD PLACED THE ORDER-I HAD A 10 MEG STREAM FROM COMCAST FOR MY CONNECTION-SCOTTRADE SAID MY SERVICE WAS INTERUPTED DURING THE TRADE,THAT IS WHY THEY NEVER RECIEVED IT AT THEIR ORDER DESK-COMCAST VERIFIED NO SUCH THING OCCURRED!
SCOTTRADE WOULD NOT HONOR MY TRADE!!!!!!!!!!!!!!!!!!!!!!
EVEN AFTER THREATENING TO LEAVE THEM-THEY HAD MADE A LOT OF MONEY OFF OF US IN 5 MONTHS-WE TRADED 7 MILLION DOLLARS WORTH OF STOCK IN 5 MONTHS-MOST STOCKS WERE UNDER $15.00 A SHARE!
ANYWHO
I FIGURED OUT THEY COULD NOT SELL ME STOCK FROM THEIR HOLDINGS BECAUSE THEY PAID MORE THAN I DID FOR IT-AND THEY NEVER ROUTED MY ORDER TO THE EXCHANGE!
THAT TRADE WOULD HAVE GROSSED ME 6-12 GRAND,THE WAY THE STOCK MOVED OVER THE NEXT DAY-I WAITED FOR A WEEK TOO MAKE THAT TRADE!
I WAS NOT ONE OF THOSE TRADERS WHO LEFT HIS DESK-I WORKED A FULL SHIFT AN HOUR BEFORE MKT OPEN AND SOMETIMES AFTER HOURS TRADING
ANYWHO THAT CHAPPED MY HIDE AND I SAID I WAS DONE TRADING WITH SCOTTRADE AFTER THAT HAPPPENED-SHAME ON THEM-AND THAT WAS NOT THE FIRST TIME I SCREWED BY THEM-BUT IT WAS THE LAST!
Most day traders lost money because of dishonest brokers and other kinds of thieves.
Trading is a relatively simple task, what makes it difficult for a retail day trader to make money is those sharks that prey on innocent traders.