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My account got messed up & lost 2K cause I did not wait on a support call
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My account got messed up & lost 2K cause I did not wait on a support call

  #1 (permalink)
Elite Member
Chicago IL
 
Futures Experience: Intermediate
Platform: TradeStation
Broker/Data: RJO Brien
Favorite Futures: ES, CL
 
Posts: 25 since Mar 2010
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My account got messed up & lost 2K cause I did not wait on a support call

I need some input & help on this please.
I set a Short trade in CLN10 on Friday evening before close. My intention was to observe the open Sunday evening & close it based on the open.

Sunday evening I opened Trade station & noticed my trade was not there & instead there was a short trade on QLM10 (Mini Sized) I immediately called Trade Station & waited on line for 10-15 mins & nobody answered, so I closed the QLM before things got out of control.

This morning (Monday 06/14/2010), I speak to Trade Station & they said it was a mistake on there side & was a mix up in electronic exchange, but I was blamed because I did not hold on line long enough to speak to somebody. (In my defense I thought there was nobody there at that time)

So QLM10 trade I closed they considered as Long position from my account & they also added CLN10 back into my account & my account is down about 2K.

Long story short, they said it was my mistake for not calling them & said it was my account & I had to deal with it.

What do I do in a situation like this, Please help. Has anybody else encountered a situation like this?

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Indianapolis, IN USA
 
Futures Experience: Advanced
Platform: Ninjatrader TOS Custom
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You have just experienced technical support with TradeStation. Thank goodness it only cost you $2,000. You will now, very likely, do what the overwhelming vast majority of TS users have done in the past decade... switch to a broker that serves your needs. In trading, every win, every loss, every charting tool, every broker, every decision you make and all the results you attain, good or bad, are 100% your responsibility. You learned an important lesson with TradeStation - ball is in your court.

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  #4 (permalink)
Membership Revoked
United States of America
 
Futures Experience: Advanced
Platform: NT
 
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This could be the beginning of a huge headache for you since the agreement you signed with TS protects them in situations like the one you described.

I suggest you move up the ladder and state your claim with humility, not anger or threats and maybe you will get some relief. Barring that, you can try to resolve your claim through arbitration.

Good luck.

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  #5 (permalink)
Elite Member
Detroit
 
Futures Experience: Intermediate
Platform: market delta, multicharts, no matter how hard i try not too, i still use ninjatrader
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spx_tdr's Avatar
 
Posts: 128 since Oct 2009
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Yep sad to say that is how TS works - I will NEVER use them again... Been screwed over by them as well... I am tell people to not use them as well... Sorry to hear that this happened to ya, and as timefreedom said ... be glad it was only $2000....

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  #6 (permalink)
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You can always file a complaint with the CFTC -- U.S. Commodity Futures Trading Commission

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  #7 (permalink)
Market Wizard
virginia
 
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mainstream View Post
You can always file a complaint with the CFTC -- U.S. Commodity Futures Trading Commission

good luck with that

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  #8 (permalink)
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Zondor's Avatar
 
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Ask for Judge Levine, tell him Wendy sent you

If you file a complaint with the CFTC, note that one of the two Administrative Law Judges, Bruce Levine, promised his "Rabbi" Wendy Gramm (Phil's wife) that he would never find in favor of a customer. And he has been true to his word.

Commodity Futures Trading Commission judge says colleague biased against complainants

As George H. Painter was preparing to retire recently as one of two administrative law judges presiding over investor complaints at the Commodity Futures Trading Commission, he issued an extraordinary request:
Please don't assign my pending cases to the other judge.
In a notice recently released by the CFTC, Painter said Judge Bruce Levine, his longtime colleague, had a secret agreement with a former Republican chairwoman of the agency to stand in the way of investors filing complaints with the agency.

"On Judge Levine's first week on the job, nearly twenty years ago, he came into my office and stated that he had promised Wendy Gramm, then Chairwoman of the Commission, that we would never rule in a complainant's favor," Painter wrote. "A review of his rulings will confirm that he fulfilled his vow," Painter wrote.

Although Judge Levine is worthy of The Wrath of Ming®, that will not help you!

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  #9 (permalink)
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Chicago, IL
 
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Uh... don't file the complaint because you might not prevail. That make a lot of sense.

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