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PFGBest Accounts Frozen (PFG scandal big thread)
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PFGBest Accounts Frozen (PFG scandal big thread)

  #201 (permalink)
Elite Member
Arvada, Colorado
 
Futures Experience: Advanced
Platform: Amibroker / Ninja Trader / TOS
Broker/Data: Mirus Zenfire
Favorite Futures: TF 6E NQ
 
Posts: 194 since May 2010
Thanks: 259 given, 187 received

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)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
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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)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received


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)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,046 since Sep 2010
Thanks: 1,918 given, 2,750 received
Forum Reputation: Legendary


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.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #205 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


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)
Elite Member
Austin, TX
 
Futures Experience: Master
Platform: ninjatrader, r-trader
Favorite Futures: CL, NG, TF, NQ, YM, GC, ES
 
liquidcci's Avatar
 
Posts: 862 since Jun 2011
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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)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,046 since Sep 2010
Thanks: 1,918 given, 2,750 received
Forum Reputation: Legendary


ThatManFromTexas View Post
I keep a really nice one to be buried in...



@mattz

Who do you clear through?

Vision Financial Markets

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #208 (permalink)
Elite Member
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
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Posts: 5,198 since Jun 2009
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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)
Identify Evaluate Execute
Mercer Island WA
 
Futures Experience: Advanced
Platform: Ninjatrader/Strategy Desk
Broker/Data: Various
Favorite Futures: TF/NQ/ES/Stocks
 
djkiwi's Avatar
 
Posts: 561 since May 2010
Thanks: 980 given, 1,524 received


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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San Diego, CA USA
 
Futures Experience: Intermediate
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Favorite Futures: ES
 
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Thanks: 588 given, 877 received


http://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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