Some of you will likely be happy today because I will no longer be talking about Scottrade after today. I guess this whole mess has in a way come to a conclusion today after I talked on the phone to Scottrade's compliance office this afternoon. I was informed that there was a mistake execution of my original stop loss back on November 7 or 8 and that they had to "bust" the execution (reverse it) because it was an error. I was then told that they do attempt to tell customers when this occurs but are not required to do so. For some reason, "the ball was dropped" and I was never informed.
I asked the officer what I exactly I did wrong in this whole mess, and he told me "nothing". He also told me that Scottrade will not be reimbursing me for my losses - basically I am out of luck. I can try and write a letter requesting reimbursement, but realistically, nothing will happen. I am out the money lost because of an error on their part.
So to review, an execution of a stop loss order was first messed up (by either Scottrade or their trading/executing partners) and then the attempt to contact me about the first mess up was messed up as well. I am out over $1000 on this position through no fault of my own, and even though Scottrade admitted it was their fault, there is nothing that they will do about it. $1000 may not be big a big amount to a lot of traders out there, but my accounts are only in the low five-figures so for me, when you lose 5-10% of your account on one trade (through no fault of your own), it does suck.
I apologize if my market posts have been shorter or less focused recently, but this event has really thrown me for a loop, so much that trading hasn't really been something I would have wanted to do anyway over the past week even if I was able. Those of you who suggested brokers for me to check out, I do thank you - that research will begin in earnest I guess now. Have a good weekend and I'll be back with a video at some point. Take care.