Am I responsible for faulty Trademaven?

Discussion in 'Retail Brokers' started by jzlucas, Nov 12, 2005.

  1. If anyone has had a similar situation, I'd love to hear a response or have some advice thrown at me! Thank you in advance.
    My Trademaven screen froze after the first order of the day. A stop order was stuck. Robin from Trademaven (AT FIRST) agreed w/ me that said I was in a flat position... but Transact says I am in a long position and Im responsible for it?! Minutes later after being on hold Robin says "what do you want to do, I guess your long here"? WHAT??? I tell them to flatten immediately, cuz my screen says flat. They do so. I log off, my screen says I have active orders.. Robin says its OK, log off anyway, it will be fine. I log back on... my screen says Im in a short position now.!!! Im stressed beyond belief at this point. Transact says otherwise, that Im flat. Not knowing what to do, I flatten the short, cuz Robin didnt know what to do either. Log off and back on again... my screen says Im flat. Several minutes later after being on hold (again), Transact says Im long?!?!?! Could NOT believe this. All I wanted was to do was go flat after my first trade of the day. I emailed them for weeks concerning bad data on their charts...(an unrelated problem). They said "they're fixing it". Well, it still happens. Anyway, after 2 hours on a conference call, they said they'll call back right away. That was 3 days ago. Robin from Trademaven claims Im responsible for the trades. Is this true? She didnt even know after 2 hours what the problem was or whether or not I was in a trade!!! Long story short... Apparently, my screen and Trademavens was showing the opposite of what Transacts was showing. NEVER had anything like this happen. I didnt think something like this was possible!! I emailed Tradmaven, Transact, Greenstreet. NONE have responded to my emails. Funny how they used to promptly return my calls when trying to get me as a customer. When something goes wrong, they ignore you.
  2. Pabst


    Why did you continue to trade after Transact said you were flat?

    Transact KNOWS what you've done or what you're working.
  3. Yeah, nice treatment you received from these tossers.

    Its quite simple really, tell them to get lost, and find yourself a new broker - you don't need this shit.

    Yes, you'll have problems from time to time, it happens. How these guys handle themselves in times of trouble, thats when you find out how good these guys are.

    Seems like these guys have behaved like a bunch of bozos.
  4. dojistarz

    dojistarz Guest

    I never had a problem of a froze like you experienced with my trading platform.

    I had problems with my internet connection(thinking it was ninjatrader at first but it was not),
    so once in a while ninjatrader would disconnect,
    it happened 3 times in the last 10 days.
    The 3 times, I called the broker and asked him to flatten
    everything and double check to make sure my stop and limit order were cancelled as well.

    It is a very stressful situation, but as least not I know the broker can handle it.

    BTW, the cable between the computer and the wall was the culprit and was fix by the technician friday.
  5. Choad


    Never heard of any broker/order entry developer anywhere that would own up to a connection/software/quote/technology problem AND pay back losses to the small trader. :(

    There is just too much risk for them, considering the (relatively) small amount they make in commish. A massive failure that, for example, gets hundreds or thousands of traders short in a zoomy bull market would really hurt 'em.

    All those agreements you signed probably will cause you to get zip, even at arbitration.

    Good luck and good trading, at least in the future.

  6. Because Robin from Trademaven wasnt sure if I was flat or not. She agreed with me, then she didnt... she agreed with me, then she didnt. I had no idea what to do. My screen says Im short later on and losing money (and panicking)... so I flattened the order. You'd think after 2 hours they'd be able to give me an accurate account of whether or not Im in a trade. I was given conflicting information the entire time.
  7. When you have a glitch, call the broker first to get you flat. Then call the software vendor and deal with the softwaree glitch.

    Another way to backup this situation is to download TransAct's DOM. You don't have to trade off of it, just minimize it and bring it up if there's a glitch. Trust it's numbers over TM.

    Had a similar experience with TM that turned out to be a mouse going bad. Later it started acting up with other programs.
  8. jlucas as i emailed you with the same experience i had with trademaven jsut minimize the transact dome as the guy before said its always right. the only downside if you ahve many dynamic things running it'll nbogg your computer down
  9. Hey, thanks guys for the info. I wish Transact would've told me that in the first place. I know Transact overrided Trademaven, but the fact that THEY didnt agree worried me. I'll be a little more aware of what to do next time thanks to you guys, not the companies.
  10. Banjo


    You could have told transact to freeze your asccnt after flattening, reject all orders untill they hear from you in case TM was running amuck and issuing erroneous orders.
    #10     Nov 12, 2005