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PFGBest Accounts Frozen (PFG scandal big thread)


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PFGBest Accounts Frozen (PFG scandal big thread)

  #201 (permalink)
 brevco 
Denham Springs, LA
 
Experience: Advanced
Platform: Amibroker / Ninja Trader
Broker: Mirus Zenfire
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Gregory, everything is frozen. I spoke with Neal at PFG and this is what he told me.




tickvix View Post
I have a stupid question. Does anyone know how current PFG issue effecting Forex account.
If anyone has any information please reply.

Thank you for your help.

Gregory


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  #202 (permalink)
 
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 redratsal 
Milan (I)
 
Experience: Advanced
Platform: Ninjatrader
Broker: Kinetick
Trading: FDAX,6E,CL,YM,NQ,ES
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Big Mike View Post
How did it go? I don't watch TV.

Mike

Impact on Traders, Investors of PFGBest?s Missing Funds

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  #203 (permalink)
 
GridKing's Avatar
 GridKing 
San Diego, CA USA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
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Good job!

I don't even have a suit anymore lol ...

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
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  #204 (permalink)
 
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 mattz   is a Vendor
 
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trendisyourfriend View Post
I think it might be time to create a thread to help the small retail trader on how to do this type of research, what to ask etc. In any case, i thank you for reminding us some obvious considerations. BTW, i wonder what Mattz from optimus think about all this fiasco.

Not sure what to say. Sad for the guys from PFG.
I never had any association with PFG with the excpetions of a few phone calls where they wanted me to clear through them and I politely declined.

Sadly non of of the due diligence that a retail trader typically conducts would allow them to conclude that either one (MG, PFG) would go out of business. However, as an IB I choose FCMs based on the people that run them, experience, mentality, test under economic stress, compliance staff, etc and other variables that retail guys dont take into consideration.

FCMs are run by PEOPLE, and their culture and behaviour would dictate the direction whether it will be a success or a failure. so far I made the right choices and hope this will carry into the future.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #205 (permalink)
 
ThatManFromTexas's Avatar
 ThatManFromTexas 
Houston,Tx
 
Experience: Advanced
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Broker: Mirus Futures/Zen-Fire
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GridKing View Post
Good job!

I don't even have a suit anymore lol ...

I keep a really nice one to be buried in...


mattz View Post
Not sure what to say. Sad for the guys from PFG.
I never had any assication with PFG with the excpetions of a few phone calls where they wanted me to clear through them and I politely declined.

Sadly non of of the due diligence that a retail trader typically conducts would allow them to conclude that either one (MG, PFG) would go out of business. However, as an IB I choose FCMs based on the people that run them, experience, mentality, test under economic stress, compliance staff, etc and other variables that retail guys dont take into consideration.

FCMs are run by PEOPLE, and their culture and behaviour would dictate the direction whether it will be a success or a failure. so far I made the right choices and hope this will carry into the future.

@mattz

Who do you clear through?

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #206 (permalink)
 
liquidcci's Avatar
 liquidcci 
Austin, TX
 
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kevinkdog View Post
Thanks for the kind words. First time doing that sort of thing, so I was just a bit nervous!

I will post a link when I get if from FBN.

@kevindog great job. You handled yourself well.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #207 (permalink)
 
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 mattz   is a Vendor
 
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ThatManFromTexas View Post
I keep a really nice one to be buried in...



@mattz

Who do you clear through?

Vision Financial Markets

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
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  #208 (permalink)
 
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 cory 
virginia
 
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brevco View Post
... I also heard that today Woodie was introducing a new "Woodie" bar called NADAX bars. ?? Wonder what that's all about.

looks like there is an extra X in there.

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  #209 (permalink)
 
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 djkiwi 
Mercer Island WA
 
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liquidcci View Post
Plus their feed is not fast or robust enough to day trade futures. If taking long term positions works fine but not for intra day stuff.

Hi @liquidcci

Actually if you use a ninjatrader multibroker license you can log on to the datafeed first (say CQG, Kinect or Zenfire) then next logon to IB then thirdly TD. This gets around the poor datafeeds of IB and TD. You can then direct trades to either AMP, IB or TD or any other ninja broker using chart trader or ATM strategies.

I'm doing this currently and it is a very efficient way of trading and spreading your risk. I'm a little unhappy with the lack of flexibility in a few areas though but this is the future for me. I will add a couple more accounts and then spread trades accordingly.

Cheers
DJ

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  #210 (permalink)
 
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 GridKing 
San Diego, CA USA
 
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https://www.mrtopstep.com/2012/07/pfgbest-broken-promises-shattered-trust-how-it-went-down/

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
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