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Search: Posts Made By: karoshiman
Forum: Brokers July 16th, 2012, 01:55 AM
Replies: 859
Views: 178,748
Posted By karoshiman
"The FCM's are required to keep their customer...

"The FCM's are required to keep their customer funds segregated from their operating capital... that's religion in the FCM world... we don't ever violate that"
Forum: Brokers July 16th, 2012, 01:46 AM
Replies: 859
Views: 178,748
Posted By karoshiman
LOL He did publish a book though... "All...

LOL

He did publish a book though... "All about Futures - The easy way to get started"... bought it at a Trading Expo just when I started day trading... it's the worst book on trading I have on my...
Forum: Brokers July 14th, 2012, 04:12 AM
Replies: 859
Views: 178,748
Posted By karoshiman
20 years...

I was wondering also, how one can do this for 20 years from a psychological point of view... I mean, what kind of person do you have to be to do that? What are your thought processes and feelings...
Forum: Brokers July 14th, 2012, 04:07 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Agree. I am not a legal expert, but as the...

Agree. I am not a legal expert, but as the industry pays these NFA fees for a service, namely protection, why should a law suit not make any sense?

Thanks for the links, very interesting stuff......
Forum: Brokers July 13th, 2012, 01:23 PM
Replies: 859
Views: 178,748
Posted By karoshiman
Stupid suggestion with giving the regulators more...

Stupid suggestion with giving the regulators more money to get more and better people. What I've read so far about this, and if this is true, you would need only common sense to figure out that...
Forum: Brokers July 13th, 2012, 10:54 AM
Replies: 859
Views: 178,748
Posted By karoshiman
By the way, I almost forgot that my agreement...

By the way, I almost forgot that my agreement with TradeStation is also with TradeStation Europe (together with the US entity). The agreement states that TS Europe is regulated by the Financial...
Forum: Brokers July 13th, 2012, 10:47 AM
Replies: 859
Views: 178,748
Posted By karoshiman
I agree, in that case this option is not...

I agree, in that case this option is not attractive.

I am not a US citizen, so I did not think of this problem.



Another thing which came to my mind is, we want more or better, more...
Forum: Brokers July 13th, 2012, 06:12 AM
Replies: 859
Views: 178,748
Posted By karoshiman
That's right. These are the only ones who have to...

That's right. These are the only ones who have to be in the markets.

Though, in financial futures it's mutual funds and similar participants who are the hedgers.

And by the way, the hedge funds...
Forum: Brokers July 13th, 2012, 05:41 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Yep, I'm considering this already. But...

Yep, I'm considering this already.

But first, I will check futures regulation in other jurisdictions.
Forum: Brokers July 13th, 2012, 05:35 AM
Replies: 859
Views: 178,748
Posted By karoshiman
You are right Mike with the hedge funds. On the...

You are right Mike with the hedge funds. On the other hand, brokers which have also a decent amount of hedge fund money, and hence, are not impacted by such campaign, might be the more secure brokers...
Forum: Brokers July 13th, 2012, 05:15 AM
Replies: 859
Views: 178,748
Posted By karoshiman
The solution...

I know how to solve this problem.

We organize a mass campaign with thousands of retail traders and schedule a week (across all known forums), in which we all pull out all our money out of our...
Forum: Brokers July 12th, 2012, 01:04 PM
Replies: 859
Views: 178,748
Posted By karoshiman
Yes, that's disturbing. In my thread over at TS,...

Yes, that's disturbing. In my thread over at TS, the other tech (!) guy did respond differently as well. Guess, that's the wrong guys to ask... :nerd: ;) ... but that's the guys reading and...
Forum: Brokers July 12th, 2012, 01:04 PM
Replies: 859
Views: 178,748
Posted By karoshiman
Thanks TMFT! However, TS is owned by this...

Thanks TMFT!

However, TS is owned by this Japanese firm Monex Group, which acquired TS only recently. Don't know much about them, except from the internet (!) it seems that they are not so...
Forum: Brokers July 12th, 2012, 11:48 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Received the following reply on my post above in...

Received the following reply on my post above in the TS community:


karoshiman,

All items listed under Securities pertains to equities accounts only which is where the Lloyd's coverage is...
Forum: Brokers July 12th, 2012, 09:27 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Hey, didn't you come up with the topic, that...

Hey, didn't you come up with the topic, that Lloyd's itself is a risk? ;)
Forum: Brokers July 12th, 2012, 09:06 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Drat! There is another risk... :(

Drat! There is another risk... :(
Forum: Brokers July 12th, 2012, 08:35 AM
Replies: 859
Views: 178,748
Posted By karoshiman
Yes, I am not 100% happy with the phrasing as...

Yes, I am not 100% happy with the phrasing as well as it obviously leaves room for interpretation as one can see from this discussion here.

Mike's idea with the CFO is great.

I've sent the...
Forum: Brokers July 12th, 2012, 04:33 AM
Replies: 859
Views: 178,748
Posted By karoshiman
They talk about "loss of securities and/or cash"...

They talk about "loss of securities and/or cash" and not only "securities". And the margin in your futures account is essentially cash.

They have some further info on this site about safety of...
Forum: Brokers July 10th, 2012, 11:42 PM
Replies: 859
Views: 178,748
Posted By karoshiman
Hi heywally, Which firm is the larger...

Hi heywally,

Which firm is the larger brokerage you are talking about? I'm curious about potential alternatives...

Thanks,
k
Forum: Brokers July 10th, 2012, 06:03 PM
Replies: 859
Views: 178,748
Posted By karoshiman
From their website it looks like they just...

From their website it looks like they just aggregate publicly available information (how should they get inside info...?).

Hence, I don't think that it is of much use.

The net capital figures...
Forum: Brokers July 10th, 2012, 05:50 PM
Replies: 859
Views: 178,748
Posted By karoshiman
It's for sure right, that it's about the people....

It's for sure right, that it's about the people. However, as one other futures.io (formerly BMT) member mentioned earlier, even a PFG employee who knew Wasendorf almost on a personal level, was...
Forum: Brokers July 10th, 2012, 05:43 PM
Replies: 859
Views: 178,748
Posted By karoshiman
Hi futuretrader, I agree to your first...

Hi futuretrader,

I agree to your first paragraph above.

But I doubt that a forum of retail traders will help much. The only thing that will surely change a thing in this industry IMO is masses...
Forum: Brokers July 10th, 2012, 11:38 AM
Replies: 859
Views: 178,748
Posted By karoshiman
No, read the security statement carefully. It's a...

No, read the security statement carefully. It's a third party insurance with Loyds of London. And I've got it in writing... as I said, it's in the TS community. You can look it up there by searching...
Forum: Brokers July 10th, 2012, 10:21 AM
Replies: 859
Views: 178,748
Posted By karoshiman
I did not refer to the SIPC insurance, but the...

I did not refer to the SIPC insurance, but the EXCESS SIPC insurance, which is an additional insurance policy. I asked about this also in the tradestation community and a TS rep confirmed it.
Forum: Brokers July 10th, 2012, 10:05 AM
Replies: 859
Views: 178,748
Posted By karoshiman
That sucks...

.. I don't have an account with PFG, but feel sorry for all who have and I'm worried about the industry overall.

If regulators don't take serious action now (should have done last year already),...
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