Discussion in 'Professional Trading' started by NBPR6, Jan 22, 2009.

  1. NBPR6


    I have a question for those of you who trade at props with your own cap. Let's say you have 5k in your account, but you end up taking a trade that puts you down 5k, so essentially you lost 10k in the trade. However, the office you are working for decides to close out your position without your consensus and now requires you to put up additional cap to make up for the difference before you are allowed to trade again. Also, during this time the position you were in runs up 5pts, but since you were closed out you miss on recovering the 5 pts you were planning to hold. What can be done in a situation like this.?

    Short version: had 5k cap, took a bad trade but was closed out by office for 10k loss -5k in account. office asking for cap to recoup and allow trading but since trader was taken out of position unwillingly, misses on recouping loses. what can be done? or legal?
  2. Why does anyone think that $5K is sufficient to trade anything??? It is nothing but an exercise in how rapidly one can incur Risk of Ruin
  3. bespoke


    what if it had gone down another 10K?
  4. NBPR6


    These are not actual numbers. I figured I'd keep it simple
  5. AAA30


    You can suck your thumb, you screwed up.
  6. NBPR6


    lol, some of you guys on these forums really crack me up with your retarded comments...oooo "you can suck your thumb".....i hope your post count contributes a little more to the forum than childish about we keep it even simpler....don't bother posting if what you are about to post is irrelevant....
  7. You are a D-bag who is trying to blame his losses on the firm.

    1) You knew you only had "x" amount of capital.

    2) You entered trades which resulted in losing "y" amount (more than "x").

    3) What in the world makes you think the firm should have to eat even more of your losses, especially when you know full well that you LOST MORE THAN YOU HAD? Should the firm just continue to let your awful trades lose money hoping that they eventually come back?

    Next time properly fund your account, and more importantly TAKE RESPONSIBILITY FOR YOUR OWN ACTIONS.
  8. NBPR6


    Apparently I wasn't clear enough.

    1) it was only 1 trade
    2) it was an overnight trade
    3) there was cap in the account one day, the next day overnight the position took at dive and resulted in a negative account status.
    4) the position was not liquidated by the office and both the trader and office agreed to hold the position again overnight
    5) the position makes a small recovery, but the office closes out the position before the cap in the account is able to break positive. meaning the office willingly decided to take a loss

    Either way, from the responses that I have been receiving, it's very apparent that some of you guys need to do something about your issues....damn....
  9. promagma


    Ummm .... once your deposit is blown, it's their money at risk and they do whatever they want to do.

    The only way out is to wire more money, like yesterday.
  10. AAA30


    Ok I will go into more details. Suck your thumb means you can go cry to your momma because you have no one to blame but yourself if this actually happened. I am actually surprised that the firm even let you carry the position overnight but I do not know what it was so can not comment there. The thing is if you what to walk on a tight rope with no experience make sure you have a net.
    #10     Jan 23, 2009