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ThinkorSwim and TD Ameritrade Warning


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ThinkorSwim and TD Ameritrade Warning

  #31 (permalink)
mwtzzz
Sunnyvale, CA
 
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mattz View Post
I wish I could agree with you, but experience shows that those institutions who fail on a large scale, are those that are trusted most. They are fully registered, and perceived to be stable.


Certainly disappointing stuff. Trading is tricky enough without having to worry about people ripping you off.

I suppose it's not suprising. Wherever big money is involved, there is always the chance for something shady going on. I see it all the time here in Silicon Valley in the way startups are managed.



aligator View Post
@mwtzzz;

That is what the "LOL" was for. You might think you are protected, until it happens. Those firms (MF Global, PFG, Refco, etc.) were some of biggest and were registered by most relevant watchdogs and regulators, including NFA and CFTC.

How can you trade and not be aware of trading world news?


I simply am not. I never found the need to and I don't like watching the news anyway.

I have my account with Etrade. I remember a few years back they sent some letters about MF Global, but Etrade said something about they had already taken steps to disassociate themselves or something, and that they had it under control. And I wasn't affected. So I felt sufficiently reassured to not give it more thought.

Maybe a bit naive ... but honestly what would I do anyway?



kevinkdog View Post
I don't understand. PFG Best, was big, and was registered with NFA, CFTC, etc. Yet, they definitely stole my money.

How did they steal? Just curious. Was it a blatant refusal to let you withdraw as the ship started sinking, or ....?



Quoting 
[B]If you trade futures, regardless if you watch the news or not, you MUST learn about PFG and MFG.

I don't know. It seems like the same old story in history. Sometimes it's pyramid scams, sometimes it's accounting fraud. ... How much can us, as outsiders, do to protect? It's hard because the insiders are the only ones who know the truth.

My money is with Etrade. Maybe they are a big scam in the making. Or maybe they are not, but someday maybe they will just make some huge unintended mistakes and go out of business.

I guess the best we can do is withdraw our profits at regular intervals, which I do anyway simply because of the nature of trading



mrmuggins View Post
I lost two thirds of my trading account at PFG best (and there is a very recent thread on here to tell you what occurred),

That totally sucks, man. Maybe I came close myself with Etrade without realizing it.


Quoting 
If you want to succeed in this industry you need to pay attention to what is going on, and saying you don't listen to the news is totally ignorant and will end up costing you if you decide to trade with real money.

Well... I only trade with real money. I personally have never found the need to follow world events, but I appreciate your advice


Quoting 

No offence meant.

Dudley

No problem! None taken



Big Mike View Post
You should probably do some research and be a bit more educated on the subject before you write your replies stating incorrect information. Google is your friend.

Hi Mike, well when I first started trading futures some years back, I was told at that time that as long as the firm was a member of NFA, etc. that it was safe. That made sense to me at the time, so I didn't give it further thought.


Thanks everybody for your responses. This was definitely some stuff I did not know. Soooo,
*** My question: What's the consensus here on the forum about good, reliable brokers at present time? I've been using Etrade as a discretionary trader, and I recently opened a small second account with TradeStation so I can test some automated system I developed.

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  #32 (permalink)
 
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 Zondor 
Portland Oregon, United States
 
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I think these posts by @mwtzzz are meant to be a joke, or satire. (Something I would not know anything about, by the way.)

I agree with this philosophy. I only trade real money, preferably OPM. I avoid any exposure to "news". When I trade, I turn off the monitors that have the charts on them. I STILL think Bernard Madoff Investment Securities is a fine company. And the Dutch East India Company too, for that matter.

Would anyone like to purchase some Tulips?

The unfortunate thing is that a serious thread has been hijacked by a mischief maker, who has been abetted by the gullible.

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  #33 (permalink)
 
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 wldman 
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@Zondor , our host here makes Swift look obvious and mundane.

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  #34 (permalink)
mwtzzz
Sunnyvale, CA
 
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Zondor View Post
I think these posts by @mwtzzz are meant to be a joke, or satire. (Something I would not know anything about, by the way.)

<snip>

The unfortunate thing is that a serious thread has been hijacked by a mischief maker, who has been abetted by the gullible.

For the record, no I am not a mischief maker, I am quite serious about trading, if you look at my other posts on this forum you will see it. And generally when I post something it exactly reflects my opinion.

No I don't watch the news, I could care less. And no, it doesn't affect my trading.

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  #35 (permalink)
 
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 Big Mike 
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mwtzzz View Post
Soooo,
*** My question: What's the consensus here on the forum about good, reliable brokers at present time?

Plenty of threads, just read them...

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Mike

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  #36 (permalink)
mwtzzz
Sunnyvale, CA
 
Posts: 171 since Dec 2012
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Big Mike View Post
Plenty of threads, just read them...

Brokers and Data Feeds - Big Mike's Trading Forum

Awesome, thanks

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Last Updated on February 13, 2013


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