Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
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Posts: 798 since Oct 2009
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It's important to realize the legal ramifications of taking that responsibility even with these rules imposed. Simply put, if this were equities, which falls under the SEC's jurisdiction, then an incompetent securities attorney could easily entangle such a poster with litigation for any and all losses incurred by how ever many parties, in what would almost inevitably become a class action lawsuit, with merit.
Because most of us on these threads talk, trade and review commodities trades, whether full sized contracts, electronic miniture contracts or other futures vehicles, these fall under the auspices of the FTA and CFTC. They impose a similar requirement of being Registered, such as being an RIA (Investment Advisor). Normally people subject themselves to this certification process for profit, which almost contradicts the notion of going through all that trouble for free and still having exposure and legal potential liability.
We live in a litigious society. One need be prepared, fore warned or advised that there are concerns with that seemingly innocent act of posting (for whatever reasons; bragging rights, for profit, for notariety, whatever) trades or calling out trades.
and Mike. I do not disagree with the trade posting requirement, not even a little. My perspective or take was that this was an integrity issue, not a legal one. I am wondering, if there is a legal concern, would a universal disclaimer offer any protection?
chances are that even if the trade was actually entered as described, which in and of itself is a low probability, there is a near certainty that it would be sim bologna, right? So easy enough, store that in the sim fridge or runa bologna special in the network of sim restaurants worldwide.
It seems to me that Kronie is overstating things somewhat.
Is it not that when enters into a financial relationship that the obligation for fiduiary duty and therefore potential for litigation exists?
If a person is reading the newspaper in a coffee shop a stranger notices him reading an article on Facebook and says "what a dog of an IPO!" and he replies "yes I bought someand I'm down." - by disclosing his trade he is liable for ligitation? I don't think so. no contractual relationship exists. (offer acceptance and consideration are all not present).
Certainly a futures broker advertising for business, or someone selling a trading system, or an educator selling a class must have the disclaimer "hypothetical results.... blah, blah, blah, The opportunnity for loss exits..... etc.
However, is every person who has posted his journal open to litigation?
Seems a stretch to me.
@cory you seem to be on the ball. Is this a tempest in a teapot?
Good trading to everyone.
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