Any Fault to Broker
Recently, my trading account was doing great until it hit a train wreck that wiped me out and more in a single day. Scary situation.
I was trading a combination of ES futures and ES futures options and I made a big miscalculation in pricing. The blowup exploded, when the broker allowed me to buy on negative buying power. This additional ability buying did not not increase my buying power(meaning moving closer to zero since at the time my buying power was negative.
The way the positions moved is my fault, but has anyone heard of a similar situation and is the broker at fault in anyway for allowing of additional buying when the buying power is negative? Note this buying did not raise the buying power in the account. The negative buying power was below (-$10,000). Thanks for any thoughts.
So let me get this straight: you had all your money tied up in one trade?
The money was tied up between ES Options and ES futures. Essentially it was long one and short the other. I am not really here for..... position management etc. The trade tactic was not the smartest nor the best. I made a pretty big miscalculation. I just wanted to know regarding the ability to buy on negative buying power
Look on the bright side, if you were a company and had gone bust, the broker would be picking up the pieces.
This was personal account not company....
im pretty sure its only your fault, if there was any margin call req that you couldnt make then the broker would be on the short end of the stick
basically you have no chance of trying to get your money back from them if youre even gonna try to think about that
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