The contract with your brokerage firm will outline whether your broker has discretionary authority over your account (i.e., the ability to make transaction in your account without your "final say"). However, you should not give (or have given) your broker discretionary authority unless you are thoroughly familiar with the risks involved in this type of broker-customer relationship. For more information, visit the SEC website here: http://www.sec.gov/answers/openaccount.htm. You should consult with an experienced securities lawyer. For more information about securities claims, visit my firm's website here: http://www.erlitigators.com/what/investment-loss-recovery/.
Most securities lawyers will review your claim for free, and if a case exists, represent the customer on a contingency fee basis (e.g., one third to forty percent of the recovery, plus costs advanced). You should act swiftly because as with any lawsuit, you have a limited amount of time to assert a claim.
Depending what your damages are and other factors, you may have a case. This was a while ago, so get in to see an experienced securities litigation attorney in your area as soon as possible. Try www.piaba.org to find at good attonrey in this area near you.
Legal Disclaimer: Mr. Carlson is licensed to practice law in California. The response herein is not legal advice and does not create an attorney/client relationship. The response is intended as legal education and to provide general information about the matter within the question.
Asking strangers who have no idea what your contract said won't get you anywhere. You need to take copies of everything you've signed to a lawyer and get the documents reviewed.
Besides whether or not the broker breached your contract or breached their fiduciary duty to you, your bigger problem may be the statute of limitations, which is 4 years from the date of breach of contract in TX, and apparently you've waited 4 years do address this. You need to consult a lawyer TODAY.
Avvo doesn't pay us for these responses, and I'm not your lawyer just because I answer this question or respond to any follow-up comments. If you want to hire me, please contact me. Otherwise, please don't expect a further response. We need an actual written agreement to form an attorney-client relationship. I'm only licensed in CA and you shouldn't rely on this answer, since each state has different laws, each situation is fact specific, and it's impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue.