Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I thought this clarification might be helpful. As you will see, any customer affected will not incur an actual loss. For customers who traded on inaccurate data caused by the Phillip outage, NinjaTrader is rebating actual losses and leaving actual profits in customer accounts.
By way of example:
Platform shows an inaccurate/fake position
Customer takes action and closes this fake position > Platform shows a profit of (X) that is fake
Platform now shows flat however, there is an actual position (Y) created by the action taken in step #2
When Phillip finally updates the platform and position (Y) is closed (account now really flat) there are two possible outcomes, either a real loss of (A) or a real profit of (B)
What NinjaTrader has done and will do is:
Real Loss (A) > Customer is fully rebated
Real Profit (B) > Customer keeps this profit
Fake Profit (X) > There is nothing to rebate since this was a fake profit
Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
I was given the same crappy response by Ninjatrader & they are now refusing to address two trades resulting into a total loss of -2050 & -470, such a disappointment that Ninja is not standing by their customer even after promising, i have been a customer for them last few years and have generated commissions worth $30k+ during these time.
I was given a different story along with whatever verbiage Ninja sponsor has posted here on forum. quoting that below.
" The FCM has been issuing rebates to restore accounts back to their value on the 4th, or allowing traders to keep profits from error trades, but not both since it's very difficult to know what trades were made based on incorrect information. "
in short they gave me two options either i leave all the profit(real trades by me) which i made on 4,5,8,9 OR opt for losses which i reported due to ghost/incorrect trade positions & restore account balance as of day 4th or 5th.
I kept sharing all my trade logs from 2nd to 11 with ninja & philips so that they each check each single trade. however now they are simply refusing to honor those losses resulting de to incorrect positions caused by their system failure.
I too am still sitting on losses from ghost positions. I was told that it will take some time to understand everything. So far there has not even been an answer. One feels totally left alone. I ask myself whether NT treats its customers equally?
I was able to get closure of this, makes me reinstate my faith in NT standing by their words, however i do have plan to move away from Philip(to Dorman) just the way they handled the entire situation, (hopefully NT will start logging every single transaction so that outage situation like this can be addressed with more accountability on FCM part). Hopefully those who are impacted will be able to get a closure.
From my own experience, and from what I've read in this thread, I think NT responded well to a pretty ugly situation. I have mixed feelings about PC though. Lets just say...Pretty interested to see the result of NT's Transact purchase. .
I had some issues with stale orders around 2:45-3:10 PM EST. , some pending orders were turned into pale yellow(Stale, meaning they could not move or change or cancel those orders) , i had also one position open which i closed immediately (the pending order was cancelled by me some 15 min before).