Others   

For the contra players....

No money to sue. But Complaint email to FIDREC will open a complaint case for FIDREC to investigate, meditate with both parties for a resolution and it is free of charge for consumers. But I think compensation filing case will need adjudication with a $50 fee.

medivh      ( Date: 05-Oct-2013 01:50) Posted: anyway i just want to end off my comment here to say if u feel unjustly treated by the *gangster or unprofessional  advice* given, go ahead write complain letter. Just remember lor, your losts already done and executed by you. If you are trying to make back money that you have lost  through complaint letter etc. its useless.. Sue them also cost u money and effort. Good luck to u Jacques. gd nite peeps..(," )

 

I calling it quit. Already lost all savings :(

Peter_Pan      ( Date: 05-Oct-2013 02:08) Posted: next week new trading week, trade with care, china will be back online..

 

Bro karmaloop, i replied ur inbox.

karmaloop      ( Date: 05-Oct-2013 01:52) Posted: Hmm, internet comms are much cheaper than orders placed via broker, so jac may just rather save on the comm charges (some clients are just like that, want to save few $$ on comms, but willing to hope and lose big on trades). Yea, maybe client could have keyed in under pressure to sell but that we cannot confirm. But what happened was that broker threatened client to sell, that we can confirm. When broker threaten, client can easily put the blame on broker..actually broker sabo himself by shifting that responsibility.. Jac may also have alot of $$ to spend, we may never know...hence he could take such a trade..500 lots to some ppl is very normal, have seen so many members lose high 4 digit loss, paid up and still come back and lose the same amount over n over again. If broker not comfortable with client, there are many ways to prevent the trade from happening, don't have to wait till trade is done then want to rectify the problem.

 

next week new trading week, trade with care, china will be back online..

 

Got marked properly short sell. I think it's a trap liao. Dealer told me mgr had initially wanted to execute force buy immediate w/o telling me. He is juz calling me to inform me of this decision coz of possible suspension anytime during that moment. Then requested that I can do so myself immediate now. Otherwise if even i don't do so, after the call ended they will still do it for me. Actually was confident shorting Inno coz selling pressure was high, already down 40%. So requested broker to give me some time as px likely to go down again later. But broker firmly said No as counter may suspend at any min. At that time, I do have a YHM contra position which is also loss making. Intention was hoping Inno can cover some of the losses.

 

Hmm, internet comms are much cheaper than orders placed via broker, so jac may just rather save on the comm charges (some clients are just like that, want to save few $$ on comms, but willing to hope and lose big on trades). Yea, maybe client could have keyed in under pressure to sell but that we cannot confirm. But what happened was that broker threatened client to sell, that we can confirm. When broker threaten, client can easily put the blame on broker..actually broker sabo himself by shifting that responsibility..

Jac may also have alot of $$ to spend, we may never know...hence he could take such a trade..500 lots to some ppl is very normal, have seen so many members lose high 4 digit loss, paid up and still come back and lose the same amount over n over again.

If broker not comfortable with client, there are many ways to prevent the trade from happening, don't have to wait till trade is done then want to rectify the problem. 

 

anyway i just want to end off my comment here to say if u feel unjustly treated by the *gangster or unprofessional  advice* given,

go ahead write complain letter.

Just remember lor, your losts already done and executed by you. If you are trying to make back money that you have lost  through complaint letter etc. its useless.. Sue them also cost u money and effort.

Good luck to u Jacques. gd nite peeps..(," )

 

look like bank broker abit bs ah? 

block here there.. 

 

that is a question Jac has to answer lor... 

  if never mark proper short sell orders there are penalites also.

        what i don't understand is why jac went to key in and not let the broker do it himself, since knowing that if broker execute the order without client's advice/permission, the broker will be liable for charges.

      i believe when jac shorted inno at 500 lots , already kan chiong , donno do the right thing or not.. broker call at the time px went up liao.. panic attack.. so key in 500 lots.. broker never really need to threaten in that manner unless jac has done something so dangerous that the advice has to be given, and jac underpressure went to key in the order himself.

done.

karmaloop      ( Date: 05-Oct-2013 01:27) Posted: I have seen the KE platform and on the normal stock platform, there is the option buy / sell / short-sell. Hence, KE platform allows short-selling of stocks.   Some cfd platforms may not provide stocks like innopac to trade due to the high risk of leveraging on more volatile counters. So, the only way to short sell these penny stocks is via the normal market   Like I said, the broker can warn the client about the potential risks, thats all. But what the broker did was threaten to cover client's position or else the broker will do so himself. That is already very wrong medivh      ( Date: 05-Oct-2013 01:18) Posted: let me ask 2 simple qns: 1) what type of acct did u use to sell? naked or cfd? 2) what was your sell limit when u shorted 500 lots of inno? did you use all? I believe without you telling me I roughly know the answer.. first what u did is naked short and second , you punted more than 50% of your sell limit. Think about it, if u are the broker, what would u do

 

I have seen the KE platform and on the normal stock platform, there is the option buy / sell / short-sell. Hence, KE platform allows short-selling of stocks.   Some cfd platforms may not provide stocks like innopac to trade due to the high risk of leveraging on more volatile counters. So, the only way to short sell these penny stocks is via the normal market

  Like I said, the broker can warn the client about the potential risks, thats all. But what the broker did was threaten to cover client's position or else the broker will do so himself. That is already very wrong

medivh      ( Date: 05-Oct-2013 01:18) Posted: let me ask 2 simple qns: 1) what type of acct did u use to sell? naked or cfd? 2) what was your sell limit when u shorted 500 lots of inno? did you use all? I believe without you telling me I roughly know the answer.. first what u did is naked short and second , you punted more than 50% of your sell limit. Think about it, if u are the broker, what would u do? Jacques      ( Date: 05-Oct-2013 01:08) Posted: The threat is to freeze all my selling limits for the day to prevent me frm short selling, and then credit dept will jam my a/c for some time lor. I only thinking to complain to FIDREC coz it's free for consumers, and since they hv authority to order financial institutions to compensate after adjudication

 

when u do online trading, they dont coerce u to key in the trade.. whatever trade u key in is ur sole responsibility.

  if they speak gangsterly type of tone to you , then u have a case as I said.. they coerce u.

karmaloop      ( Date: 05-Oct-2013 01:12) Posted: That is true to a small extent. This poor dude was misled and made confused to cover a position that was considered a legal trade. Given that he was able to place the trade in the first place meant that there was no counter nor limit restriction set by the broker. The broker was supposed to be comfortable with the client's exposure given the limits he has, if the broker allowed the trade to be executed and then feel uncomfortable with it clearly says the broker is not doing his job to manage his/her own risk. How can you let a client execute a trade and them threaten to cover his position later. This is absurd.   In this case, client was induced and threatened to cover a legal position, client has every right to file claim.  medivh      ( Date: 05-Oct-2013 01:00) Posted: I think u better read the fine print in the terms and conditions rgding online trading before you file complaint.   if the manager executes the trade on your behalf u may have a case,     the fact that you executed the trade deems u responsible, irregardless of whatever advice they may have rendered to you on the phone.  Unless they coerce you in a tone fitting of a  threat, else its a lost cause. Writing to ST forum  will  only show more of your noobness and  idiocy.  (pardon me but I'm just being frank here)

 

let me ask 2 simple qns:

1) what type of acct did u use to sell? naked or cfd?

2) what was your sell limit when u shorted 500 lots of inno? did you use all?

I believe without you telling me I roughly know the answer.. first what u did is naked short

and second , you punted more than 50% of your sell limit. Think about it, if u are the broker,

what would u do?

Jacques      ( Date: 05-Oct-2013 01:08) Posted: The threat is to freeze all my selling limits for the day to prevent me frm short selling, and then credit dept will jam my a/c for some time lor. I only thinking to complain to FIDREC coz it's free for consumers, and since they hv authority to order financial institutions to compensate after adjudication. medivh      ( Date: 05-Oct-2013 01:00) Posted: I think u better read the fine print in the terms and conditions rgding online trading before you file complaint.   if the manager executes the trade on your behalf u may have a case,     the fact that you executed the trade deems u responsible, irregardless of whatever advice they may have rendered to you on the phone.  Unless they coerce you in a tone fitting of a  threat, else its a lost cause. Writing to ST forum  will  only show more of your noobness and  idiocy.  (pardon me but I'm just being frank here)

 

That is true to a small extent. This poor dude was misled and made confused to cover a position that was considered a legal trade. Given that he was able to place the trade in the first place meant that there was no counter nor limit restriction set by the broker. The broker was supposed to be comfortable with the client's exposure given the limits he has, if the broker allowed the trade to be executed and then feel uncomfortable with it clearly says the broker is not doing his job to manage his/her own risk. How can you let a client execute a trade and them threaten to cover his position later. This is absurd.

  In this case, client was induced and threatened to cover a legal position, client has every right to file claim. 

medivh      ( Date: 05-Oct-2013 01:00) Posted: I think u better read the fine print in the terms and conditions rgding online trading before you file complaint.   if the manager executes the trade on your behalf u may have a case,     the fact that you executed the trade deems u responsible, irregardless of whatever advice they may have rendered to you on the phone.  Unless they coerce you in a tone fitting of a  threat, else its a lost cause. Writing to ST forum  will  only show more of your noobness and  idiocy.  (pardon me but I'm just being frank here)   Jacques      ( Date: 05-Oct-2013 00:05) Posted: Yes. Thats the point and problem. The hse dealer said he is kind to request his manager to call me b4 hand and inform me to buy back immediately. If I don't do so, his manager will execute the force buy at immediate px too. I overheard his manager's voice was besides him until I filled the trade. KE is damn unreasonably kia si firm. Blumont, Asiasons, and Liongold was suspended within mins of each other. If Innopac was to suspend, would hv done it together liao. I short sell at 10:15am, kena forced buy by them at 10:35am. I only know of force selling. This is first time I heard of force buying. I shld really file complaint to compensate me right

 

The threat is to freeze all my selling limits for the day to prevent me frm short selling, and then credit dept will jam my a/c for some time lor. I only thinking to complain to FIDREC coz it's free for consumers, and since they hv authority to order financial institutions to compensate after adjudication.

medivh      ( Date: 05-Oct-2013 01:00) Posted: I think u better read the fine print in the terms and conditions rgding online trading before you file complaint.   if the manager executes the trade on your behalf u may have a case,     the fact that you executed the trade deems u responsible, irregardless of whatever advice they may have rendered to you on the phone.  Unless they coerce you in a tone fitting of a  threat, else its a lost cause. Writing to ST forum  will  only show more of your noobness and  idiocy.  (pardon me but I'm just being frank here)   Jacques      ( Date: 05-Oct-2013 00:05) Posted: Yes. Thats the point and problem. The hse dealer said he is kind to request his manager to call me b4 hand and inform me to buy back immediately. If I don't do so, his manager will execute the force buy at immediate px too. I overheard his manager's voice was besides him until I filled the trade. KE is damn unreasonably kia si firm. Blumont, Asiasons, and Liongold was suspended within mins of each other. If Innopac was to suspend, would hv done it together liao. I short sell at 10:15am, kena forced buy by them at 10:35am. I only know of force selling. This is first time I heard of force buying. I shld really file complaint to compensate me right

 

u mean their own brokers?

Peter_Pan      ( Date: 05-Oct-2013 00:56) Posted: appears like they are more concerned about their bs...

 

I think u better read the fine print in the terms and conditions rgding online trading before you file complaint.

  if the manager executes the trade on your behalf u may have a case,

    the fact that you executed the trade deems u responsible, irregardless of whatever advice they may have

rendered to you on the phone.  Unless they coerce you in a tone fitting of a  threat, else its a lost cause.

Writing to ST forum  will  only show more of your noobness and  idiocy.  (pardon me but I'm just being frank here)

 

Jacques      ( Date: 05-Oct-2013 00:05) Posted: Yes. Thats the point and problem. The hse dealer said he is kind to request his manager to call me b4 hand and inform me to buy back immediately. If I don't do so, his manager will execute the force buy at immediate px too. I overheard his manager's voice was besides him until I filled the trade. KE is damn unreasonably kia si firm. Blumont, Asiasons, and Liongold was suspended within mins of each other. If Innopac was to suspend, would hv done it together liao. I short sell at 10:15am, kena forced buy by them at 10:35am. I only know of force selling. This is first time I heard of force buying. I shld really file complaint to compensate me right? zedteo      ( Date: 04-Oct-2013 23:43) Posted: Bro.. Wat i meant was if u did not buy back when they asked u to, what will happen? They freeze yr acct? Or they buy for u? I believe they also cannot do anything coz they cannot act on your behal

 

appears like they are more concerned about their bs...

 

All phone conversations with KE broker are recorded. It is against law to not have phone conversation recorded. You can request for a copy of the recording and send in to SGX/ MAS. By right, broker cannot take call and make call via HP too, the firm will get warning and may be fined if they find no conversation recorded with client. 

These days, teams like these are just a chop shop to churn and generate sales in the wrong way... pressured to meet semi annual or annual targets 

  You have clear advantage... don't let broker cheat your $$ 

Peter_Pan      ( Date: 05-Oct-2013 00:18) Posted: hope u succeed...they should give advice professionally and not this way... Jacques      ( Date: 04-Oct-2013 22:36) Posted: Ok. I'll go sleepless and draft a compliant email later midnight to seek compensation for that trade. They trying to scare me and bluff me again by saying it's illegal. Somemore i alwys paid my holdings and losses on time

 

hope u succeed...they should give advice professionally and not this way...

Jacques      ( Date: 04-Oct-2013 22:36) Posted: Ok. I'll go sleepless and draft a compliant email later midnight to seek compensation for that trade. They trying to scare me and bluff me again by saying it's illegal. Somemore i alwys paid my holdings and losses on time. Peter_Pan      ( Date: 04-Oct-2013 22:16) Posted: naked short-selling is not illegal...piang

 

They also said will freeze all my selling limits for the day to prevent me frm short selling, and then jam my a/c for some time.

zedteo      ( Date: 04-Oct-2013 23:54) Posted: I know must cover before end of day. But bro was forced to buy when it have not hit target price. I was wondering if i refuse to buy when banker force and choose to wait out in the day, what will the banker do..? h0ly0wl      ( Date: 04-Oct-2013 23:48) Posted: You will be shooting yourself in the foot if you chose not to buy back, you will be fined by SGX and die painly.