You Wont Believe This!
- Thread starter rossmedia
- Start date
I think it is different. If I click the wrong button it is no doubt the same human error as the broker made. However, it would be impossible for any broker to reimbuse me as I could say it happened every time a trade went against me. Never lose!Quote from axeman:
Simply because when WE make a...cough cough... CLERICAL
error, we're STUCK WITH IT and are not allowed to break the trade.
So why should THEY be?
Oh thats right... because they are rich and privileged bastards
And you are a nobody with no power.
peace
axeman
In the brokers case they can prove, completely independently that TASR split and so their mistake is obvious.
In this case it happened that the error -on paper- favoured the customer. If it hurt the customer would anyone still think the broker must stay with the corrupt data?
Its a big secret!
Don't tell us who!
How can you sell a premium ITM when the stock is OTM?
I am still waiting to here how that happened.
If your broker is breaking this trade, then every trade on the AMEX must be broken since it was a bad quote.
Its a bad trade PERIOD.
SSSSSSShhhhhhhhh!
The whole thing is preposterous.
I spoke to my cousin who is a senior compliance officer and a ROP. He laughed.
Don't tell us who!
How can you sell a premium ITM when the stock is OTM?
I am still waiting to here how that happened.
If your broker is breaking this trade, then every trade on the AMEX must be broken since it was a bad quote.
Its a bad trade PERIOD.
SSSSSSShhhhhhhhh!
The whole thing is preposterous.
I spoke to my cousin who is a senior compliance officer and a ROP. He laughed.
First, brokers don't make you stand by all clerical errors. If you miscalculate your account equity or your position to the detriment of your account, they don't change your equity and position to reflect your miscalculations.
Second, if your broker corrects and stands by the error, you will be long 30 puts and short 60s. You never owned 60's.
Second, if your broker corrects and stands by the error, you will be long 30 puts and short 60s. You never owned 60's.
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Honestly, my thinking is to try and resolve this issue amicably with my broker before publically naming them. I will however, when I'm certain they will not mediate or arbitrate this through NASD, post their name here, along with remaining details. I'm open to any contrarian suggestions, if you do not think this path most effective. Just trying diplomacy first. By the way, many. many traders on elite use my broker, they're not a small fish.
rossmedia
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Once the final decision is made it's almost impossible to get it changed.
Public opinion is important to companies, especially now when competition is so great. Broker fees have dropped over the past 10 years or so and I am sure it's not because they want you and I to have a bigger piece of the pie. Competition!
You haven't said anything bad about the broker, you've stated facts.
Do what you feel is the right thing. But if you think that they are going to just credit your account, I would say you have not had many disputes with brokers.
This board can be be very positive or negative. Take some time and read some of the comment strings about brokers in that section, see if you don't notice a broker spokesman chiming in every now and then.
Honestly, my thinking is to try and resolve this issue amicably with my broker before publically naming them. I will however, when I'm certain they will not mediate or arbitrate this through NASD, post their name here, along with remaining details. I'm open to any contrarian suggestions, if you do not think this path most effective. Just trying diplomacy first. By the way, many. many traders on elite use my broker, they're not a small fish.
rossmedia
///////////////////////////////////////////////////////////
Once the final decision is made it's almost impossible to get it changed.
Public opinion is important to companies, especially now when competition is so great. Broker fees have dropped over the past 10 years or so and I am sure it's not because they want you and I to have a bigger piece of the pie. Competition!
You haven't said anything bad about the broker, you've stated facts.
Do what you feel is the right thing. But if you think that they are going to just credit your account, I would say you have not had many disputes with brokers.
This board can be be very positive or negative. Take some time and read some of the comment strings about brokers in that section, see if you don't notice a broker spokesman chiming in every now and then.