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AMP Futures / AMP Global Review
Started: by kalalex Views / Replies:102,487 / 347
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AMP Futures / AMP Global Review

  #151 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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addchild View Post
The entire purpose of that is to keep you trading, keep you at the desk. Any one who offers $500 margins really understands the game, but anyone who uses it likely doesn't.


I love that!!


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #152 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
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Big Mike View Post
Uhm... what?

You should think back to the messages you sent me about AMP and what they were doing to you after you posted that you had CQG connection problems. I just re-read those messages just to remind myself that it was the same user (you).

It was quite clear by your messages that you had an extremely serious issue with Amp and the way they were treating you after you made your post on futures.io (formerly BMT).

I am glad you've had a complete 180 change of heart and you now love them and all that, but please appreciate that others may be experiencing today what you yourself experienced in the past. And hopefully they are not afraid of the repercussions of posting as you were.

Mike

I said I never ran across anyone rude or inept. I never mentioned anyone getting pissed off at me



AJ
Nashville, Tennessee


"Life On The Edge of SR"

Last edited by tderrick; January 30th, 2014 at 02:15 PM.
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  #153 (permalink)
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Cedar Rapids, iowa
 
Futures Experience: Intermediate
Platform: Ninjatrader
Broker/Data: Ninjatrader - Continuum
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tderrick View Post
Yes, I know...... Dan was upset with me for raising hell about getting drops on CQG at the farm. I was trading
through an iPhone. We went through it all and I finally admitted that I shouldn't be accusing anyone of bad
data feeds when I'm trading through 3G. I posted all that stuff on one of those threads.

The key is ,we talked our way through it. He had my NT log and trace files gone through to see what was
going on. I'm fairly solid with computers, but I'm certainly no IT guy. He showed me the error of my ways
and I was man enough to admit I was an idiot for even trying such a fool harder venture.

CQG has been rock solid ever since I upped my game and got an office.

I'm sorry I pissed you off.

Trading though an iPhone, that's like the dumbest thing ever (just thought you might like confirmation )
Great problem, great fix, great confess, great post!!

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #154 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
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Tasker_182 View Post
Trading though an iPhone, that's like the dumbest thing ever (just thought you might like confirmation )
!!


man, we all gotta start somewhere.... Live and learn



Aj

Sent from my iPhone using Tapatalk


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #155 (permalink)
Identify Evaluate Execute
Mercer Island WA
 
Futures Experience: Advanced
Platform: Ninjatrader/Strategy Desk
Broker/Data: Various
Favorite Futures: TF/NQ/ES/Stocks
 
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Posts: 561 since May 2010
Thanks: 980 given, 1,517 received

Futures Edge on FIO
Depositing funds with AMP, like any other privately owned broker is a game of Russian roulette. You place your funds and hope you don't wake up one morning look at the news and find you have fallen victim to another MF Global or PFG Best.

We know from history with MF Global and PFG that the regulators are and continue to be useless so we have no confidence there. We also know that given the risks insurance companies won't offer coverage to futures brokers anytime soon, if ever. So where does that leave us?

Personally I use the following risk management techniques:

1. Limit the amount of cash available for "cash margin" in privately owned firms to 10% of net worth. If your net worth is $100k then you shouldn't have more than $10k in futures accounts.

2. Further spread the 10% around to two privately owned futures brokers so exposure to any one broker is 5%. If your net worth is only $10k and you deposit all of that with one broker then you are asking for trouble in my opinion.

My current losses from a failed firm is currently $0. As in Russian roulette I know that sooner or later I'm going to get shot. But when I do at least I've minimized the damage.

Reading through this thread I think some people are not seeing the big picture. Who cares whether AMP answer the phone after 2 rings or 10 rings, or the guy on the other end is rude, or they stiffed you $1 in commissions, or round trip commissions are 50 cents more than the next guy. Admittedly I've called AMP a few times about my account. Their customer service has been mixed but have no opinion either way.

The most important question is how safe is my capital?.

Is the owner stealing my funds (PFG) or hypothecating them in an egotistical sovereign bond bet (MF Global)? I can never know so need to take my own precautions by limiting my exposure to them or any other privately owned broker for that matter.

Protecting my capital is my own responsibility.

My preferred option is to limit funds with privately owned brokers in favor of publicly listed brokers. Preferred option is to use companies that allow excess cash to be swept to FDIC/SIPC insured accounts. However there are inherent risks with some publicly listed brokers as well as I pointed out in this thread:

https://futures.io/brokers-data-feeds/21648-futures-broker-due-diligence-notes-post-peregrine-financial-group-pfg.html


Last edited by djkiwi; January 30th, 2014 at 07:44 PM.
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  #156 (permalink)
Banned: Previous banned dupe
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Futures Experience: Beginner
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tderrick View Post
man, we all gotta start somewhere.... Live and learn



Aj

Sent from my iPhone using Tapatalk




You crack me up TD and better yet you man up and admit it. This Buds for you! or being in Nashville, this moonshine is for you!

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  #157 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
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patidar View Post






You crack me up TD and better yet you man up and admit it. This Buds for you! or being in Nashville, this moonshine is for you!


...I'll take the shine


Aj

Sent from my iPhone using Tapatalk


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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  #158 (permalink)
Live Your Bliss
Cancun, Mexico
 
Futures Experience: Advanced
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Not sure why some of you are getting a hard-on because someone else had a crappy experience with AMP.

I merely shared my experience as it happened.

If that gives you high blood pressure, see your doctor.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #159 (permalink)
Banned: Previous banned dupe
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Posts: 117 since Jan 2014
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Viagra is a hell of a drug Anagami.

I didn't know it was going to get this bad or I would not have said nothing. It really wasnt that big of a thing.
I learned via PM of the past also.

Ah so.

O well. No one died. That's a good thing.


Last edited by patidar; January 30th, 2014 at 09:36 PM.
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  #160 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,525 received


Today we move on - Brothers in arms


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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