Originally Posted By: extremesteelhead
Originally Posted By: Sky-Guy
I'm patterned, required to buy on margin.


It's in the terms and conditions that they can sell your securities to cover the margin. They increase the margin requirements during periods of volatility.

I've re-read my contract and know this is true, but there are also legal requirements brokerages must follow in these scenarios. Those requirements were not followed in this case! SEC notified, case opened with firm.

The beauty/scary part of this exercise is that WSB has proven this can be done with a flashmob attack on a equity. its a new ballgame, and unfortunately our foreign enemies are watching. This is far from over.
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