Dos and Donts - Pect Trading Platform

[pectceo]

Every person who will be trading with the new platform must read and understand these rules and trading guide very well before opening any account with the new platform. We will not tolerate ignorance to these rules and also we will not pardon you because you are a young trader.

1.) Know how to determine your account balance
I discovered that more than 60% of traders don't even know how to determine what their balance is. They make unnecessary troubles and rain curses due to their own ignorance. I am going to explain this challenge thoroughly:

Your account balance can only be obtained from the Iboss trading system not the web trader website (PectStocks.com). The main purpose of the web trader website is to enable you execute trades and it does not give you an accounting system where you can determine your account balance.

Your account balance can be obtained from the iboss. Your balance can be seen from the Daily Summary button. From the daily summary button you will find the "Total Equity in master". That represents your current account balance. This balance changes daily as the closing prices of your stocks appreciates or depriciates. So when you see the balance rising, it means the closing prices are rising and vice versa.

See picture below:

[pectceo]

2.) Balance
The balance is a record of what is left after you have invested some or all of your fund. It represent the amount you have left to be able to buy new stocks. When the balance becomes negative, it means you have started trading above your capital and encroaching into our funds or other traders fund. It is a very dangerous practise which can mar the entire platform.

When you discover that you have traded above your fund, it is advised you close some of your trades or deposit more funds to meet up with the negative balance. If you fail to do any of these two options, your valuable trades will be closed out without any prior notice. Many have been sending me mails that they did not authorise us to close their trades and that it is unacceptable for us to do that. Well it is only in Nigeria that such will be accepted other platforms internationally will kick you out if you try such. I will personally close out your valuable trades if you don't comply because this is the number problem with ignorant traders.

Lets see this trader's account and lets find out the state of his balance. See chat below;



From the screenshot above, you can see that this trader is guilty of this offense. He terribly traded into others peoples fund and even when some of his positions were closed to meet up with the negative balance, we still had the account in negative. The annoying thing with this trader and others is that when their trades are closed to cover this negative balance, they get very confused and start cursing.

They start saying that their trade has disappeared with the fund invested in it. When you don't find a trade on your position window, it simply means it has been sold out and whatever came from that sellout will be credited back to your account automatically. To confrim this go to your trade history by clicking on Activity on the Iboss and check if the stock was actually sold. Stocks don't just varnish like that.

I am sounding this loud because I will not be in a position to explain simple facts to trader when they can actually find out what is the problem on your account themselves. I got this complain today: It says:

Presently, my stock portfolio should be as follows:
HCPC  5,000,000 units
WEHI  5,000,000 units
CBAY  5,000,000 units
NUBV  5,000,000 units
SUMM  400  units
Surprisingly,  HCPC and  SUMM  are missing  from  my present  stocks portfolio. I also saw
PCSO among my list which I did not own or ordered for. These HCPC and SUMM cost me
$500 and $1300 respectively.I will like corrections made to these. I still believe this is an error
and not manipulations unless otherwise proven.
Thanking you for your anticipated co-operation.Honesty and Transparency should be our motto.
I will be expecting your reply.

[pectceo]

This trader is a clear example of the class of traders I don't want on this platform because they are very lazy and are not studious. I personally will not have an account with lots of buttons and I will not click around it to learn what they meant. I suspect that this trader has not even click on any button on the Iboss. With the new arrangement, I will not even bother to respond to a mail like this because there is no point. If he has checked his trade history he should have seen every details about why is current portfolio looks the way it is. Ignorant is no excuse to start accusing people of manipulation. 

Why will I manipulate an account? I don't even look into accounts, I do only when the trader violates the rules. Lets see his trade history using the activity button located on Iboss and find out what really happened;



He complained about his missing HCPC and a PCSO stock that suddenly came into his portfolio. If we have more traders like this, I think I will keep having thesame problems. From the trade history, we can see that HCPC has changed symbol to PCSO and it also did a reverse share split of 1:100,000. Meaning for every 100,000 shares you have, the new share unit will be 1. That was why he finally had 50units of the new symbol. Though the value remains thesame as the stock now trades at a higher price. To confirm this see details about the reverse share split through the link below:

http://www.pectonline.com/forum/index.php/topic,1028.0.html

As for his SUMM, that stock was sold off because he was trading with other traders' money. Even after closing that trade SUMM, the account couldn't even break even.

One major challenge with microcaps is that you need to monitor the accounts very closely because lots of changes affects them like symbol changes and reverse share splits.

[pectceo]

3.) Updates and Other Issues must be obtained from the Pect Forum

More than 70% of traders are too busy to check up the Pect Forum for updates and feedbacks. They want to be called for information and also updates. The Pect Forum is the only place traders can get updates and feedbacks. There are daily updates and feedbacks on this Forum. Any trader who does not check the Forum regularly for updates will be left out.


4.) Using the Forum for posting Nasty Request about the Platform.

I will not tolerate nasty posts and unnecessary complains on this Forum. Any trader who try to do that will be suspended and all his trades close and his fund sent to his account. There are avenues to use when you have issue needing resolution, you can send your request to me directly through pectceo@gmail.com or to other member of the team; onlysweetperi@yahoo.com, forexchap@yahoo.com or pctsupports@gmail.com. You can also send me a private message using the Forum messaging system. I repeat no nasty posts will be tolerated on this forum again. I will outrightly suspend any trader who does that.

[pectceo]

To learn more about the platform and how to navigate it properly, Please read this article by following the link below:

http://www.pectonline.com/forum/index.php/topic,510.0.html

Post your questions about the platform usage there.

[judeman]

This is great cliff,now u mean business.i think sentiments shud be sacrifice at the altar of reality n not vise versa,.
 This is great,lets kn the serious ones 4 business
Thank God u finally shamed all our detractors,cliff is egual to task as far as global stocks is concrn.
 
  bravo cliff
 woooo to all saboes
 i believe in this guy

 lets i forget,all forumist pls we shud allow him to work,forget posting disturbances n rubbish here
let us make patience our watchword n allow good n reliable platform to come up
    Xmas to all

[oniyideseun]

Splendid.... Imbibing professionalism in any business is essential and I can see that Pect has taking such step...

He who have ears let him hear, the bell is sounding loud and clear for every trader to be cautious in their trading on the new platform... I pray and hope we all adhere to the Do's and Don't of the platform so we can all savour the new platform....

Long live PECT.....

[bJ_Digits]

Hi Cliff,

Does it mean that if one subscribes to the new platform, that what he has in the IbossTrading Account will still be intact?  I checked my Iboss account and found that my stocks are still intact. PLease clarify me, if I subscribe to the new trading Platform, will I still maintain my Iboss account without any alterations?

Benny

[pectceo]

Hi Cliff,

Does it mean that if one subscribes to the new platform, that what he has in the IbossTrading Account will still be intact?  I checked my Iboss account and found that my stocks are still intact. PLease clarify me, if I subscribe to the new trading Platform, will I still maintain my Iboss account without any alterations?

Benny

We are not moving the old Iboss trades to the new platform. The old accounts remains intact and we will not charge the regular $5 on the old account anymore. Moving the old trades into the new platform can cause major errors and make difficult to balance the account.

People that want to trade with the new platform will need to open a new account totally which is FREE for all old account holder.