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Lawsuit: AMP Futures Trading aka AMP Global Clearing
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Created: by Big Mike Attachments:43

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Lawsuit: AMP Futures Trading aka AMP Global Clearing

  #91 (permalink)
Elite Member
Chandler, Arizona
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: NQ
 
Posts: 9 since Jan 2012
Thanks: 6 given, 1 received

Great News Mike!

Very happy for you and for this amazing community your vision has gathered and nurtured, a community I feel genuinely privileged to be part of!

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  #92 (permalink)
Elite Member
Los Angeles, California Republic
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: ES, Mongolian Horse Futures
 
srgtroy's Avatar
 
Posts: 1,456 since Jan 2011
Thanks: 1,009 given, 2,238 received

Congrats, Mike! You fought the good fight and you won...a rare combination!

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  #93 (permalink)
Elite Member
Victoria BC/Canada
 
Futures Experience: Advanced
Platform: Investor RT, Ninjatrader,
Broker/Data: DTN/CQG/Rythmic
Favorite Futures: ES ,Currency Futures, Oil , Gold
 
Posts: 41 since Nov 2011
Thanks: 95 given, 29 received


Congratulations Mike ! Thank you for standing by your principles, and doing so in futures.io (formerly BMT) style ! I cannot fathom how Amp thought to gain form getting in a petty scrap like this ? Now that Ninja has entered the brokerage business, I'm guessing it's easier than ever for Amp customers to head there, fuelled by a small mindedness few will want to put up with.
I wish you the best and thank you for being a class moderator, developer, interviewer and trader!

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  #94 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received

Awesome

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  #95 (permalink)
Elite Member
Singapore
 
Futures Experience: Beginner
Platform: SC, TOS
Broker/Data: Inifinity Futures, TOS
Favorite Futures: NQ
 
Posts: 206 since Jun 2011
Thanks: 1,048 given, 198 received


Big Mike View Post
@OpalDragon,

To date there have been approximately ~200 contributors to the legal fund... Excel is telling me the average is about $50.

Mike

I'm shocked to know that there only about 200 contributors (~0.4% of total membership).

I had contributed and sincerely hope more futures.io (formerly BMT) members will contribute to the legal fund as well.

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  #96 (permalink)
Elite Member
Madrid - Spain
 
Futures Experience: Advanced
Platform: Own supported by others
Favorite Futures: FDAX, SP500, €/$, CL, etc.
 
Wikmar's Avatar
 
Posts: 125 since May 2014
Thanks: 1,583 given, 90 received

Some ideas

First of all I join other colleagues giving my congratulations and above all, my support to the original motivation;
fight for the defense of freedom of speech, thoughts and experiences.

I would also like to dump a few ideas (european notation sometimes and perhaps not proper words, my english is not bilingual):



* As futures.io (formerly BMT)F is logical and honestly asking for financial aid and as futures.io (formerly BMT)F has direct incomes from the users ($100 elite members), it would be nice to recieve a bit more information from futures.io (formerly BMT)F.

We know some things but scattered and thanks to questions from colleagues. It would be nice a clear and complete information from futures.io (formerly BMT)F as a starting point; general costs, incomes, status, etc.

From my side it would be perfect if futures.io (formerly BMT)F were even a way of living from itself (from users, sponsors, etc). Perfect!, it will be beacuse its value that really really has.

But at this point, doing things well IMO, it would be desirable to share some information as starting point as I said. I think it would be very much better if every body knows more informed if we have to say "Mike, you have to take up the membership fees", or "Mike, for some circumstances, we are not talking about some cents or a few dollars for this case, it would be reasonable talk about $25 or 50", or maybe we conclude that in fact the goal is $1 and an extended campaign of awareness among users.

So, it's important to fix a good goal. And plus, attending this, among other things, there won't be this important and unnecessary imbalances (people donating $50 or $500).



* With the information gathered so far, as some colleagues get, it seems that with about 1 - 5 dollars from the regular users, we cover this issue, and perhaps a bit more. It is also important, always IMO, a frecuently feedback about the goal covering state, and also about the mean and the imbalances.



* Assuming as good the 1 - 5 dollars goal from the regular users, among those I meet not long ago, and rescuing the issue of why "if they lost aren't they liable for all costs?", and as Mike said: "My layman's understanding is that I would need to sue AMP to recover costs".

I have to say that I would donate $10 very very much more comfortable if we go ahead trying to recover the costs from the looser because it would be finishing the job and because we have to take this opportunity to also win equal future lawsuits.



* In principle information only, but as we analyze in the forum good places to live, I suggest to open a round to analyze how best existing legislation under which a forum like futures.io (formerly BMT)F would be put to work.


Regards to all.

Home people force
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  #97 (permalink)
Elite Member
Albuquerque, New Mexico/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader-Continuum(Mirus)
Favorite Futures: emini Currency and Index Futures
 
Posts: 103 since Jan 2011
Thanks: 285 given, 104 received

Congratulations Mike!

This is a victory for all of us and our ability to speak our minds. It is not clear to me whether or not this result stands as a precedent that could have important consequences beyond futures.io (formerly BMT). Maybe someone here with a legal background has better insight into this. Hopefully, it does.

Because of the importance of this victory, not only to futures.io (formerly BMT) as an entity, but to each of us, Big Mike should not have to pay out one red cent to legal fees. As @OpalDragon so eloquently points out, it doesn't take much from each member to accomplish this.

This "exercise" has emphasized the one important "flaw" in the futures.io (formerly BMT) Forum and that is, that you can only it the "Thanks" button once!!

Thanks Mike,
HDT

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  #98 (permalink)
Banned: trolling
Russia,Khabarovsk
 
Futures Experience: Beginner
Platform: NT
Favorite Futures: Gold
 
Cachevary's Avatar
 
Posts: 407 since Feb 2014
Thanks: 138 given, 78 received


HighDesertTrader View Post
This is a victory for all of us and our ability to speak our minds. It is not clear to me whether or not this result stands as a precedent that could have important consequences beyond futures.io (formerly BMT). Maybe someone here with a legal background has better insight into this. Hopefully, it does.

Because of the importance of this victory, not only to futures.io (formerly BMT) as an entity, but to each of us, Big Mike should not have to pay out one red cent to legal fees. As @OpalDragon so eloquently points out, it doesn't take much from each member to accomplish this.

This "exercise" has emphasized the one important "flaw" in the futures.io (formerly BMT) Forum and that is, that you can only it the "Thanks" button once!!

Thanks Mike,
HDT

There is another button - 'Pay'.You can hit it nonstop!

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  #99 (permalink)
Elite Member
san francisco, ca
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
Posts: 45 since Nov 2009
Thanks: 41 given, 26 received


fourtiwinks View Post
I'm shocked to know that there only about 200 contributors (~0.4% of total membership).

I had contributed and sincerely hope more futures.io (formerly BMT) members will contribute to the legal fund as well.

@fourtiwinks - I agree with you. Also donated some time ago - a small donation by each is not much for the hours of learning and community provided from here.

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  #100 (permalink)
Trading Apprentice
Charlotte NC
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Posts: 8 since Nov 2014
Thanks: 3 given, 7 received


Gratz! It's kinda funny if you think about it. IMO, the plaintiffs did far more damage to their rep by engaging in this lawsuit than the posts by the defendant and the contractor could possibly have done. People get all caught up in hate and anger, they lose their minds and they act irrational.

You'd think trading would be an industry that really clamped down on the whole irrational anger/go-nuts stuff. Folks engaging in that sort of thing would fail one way or another. But apparently not, strange. Maybe they compartmentalize their lunacy.

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