Disliked{quote}-Regulators colluding in an effort to side-step a judge's order so that MFF has no access to funds? But how can this be? I thought that regulators could be trusted...Ignored
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prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote}-Regulators colluding in an effort to side-step a judge's order so that MFF has no access to funds? But how can this be? I thought that regulators could be trusted...Ignored
DislikedObjectively speaking, it should be strange for people to see things happening on the CFTC side that seem so personal. Such behavior is questionable and should make any theories involving conflicting interests and hidden agendas difficult for most to simply dismiss. Perhaps they are so used to operating unchecked and without proper oversight and accountability, that they are not even phased or concerned by their own activity anymore. I guess that when you are so above the law, that you just do what you want. It certainly makes you wonder about who...Ignored
DislikedMFF vs CFTC case update... Several weeks ago, the court removed the temp receiver & the SRO freeze on personal + corporate assets other than 12m in current live trader payouts & fees. Immediately after the US court order. The Ontario regulator & courts decided to appoint their own temp receiver and asset freeze, so Kazmi & MFF still have been unable to access funds for living expenses, staff back pay & legal fees. MFF stated only a small fraction of their customers were in Canada and 30% were in the US. MFF asked the Ontario regulators for their...Ignored
DislikedAnother MFF Case update... Having considered the matter, THE COURT FINDS that there is good cause to extend the deadlines set forth in the Parties’ Joint Proposed Rule 26(f) Discovery Plan by 45 days, with the exception that the Parties may send litigation subpoenas to third parties on or after February 5, 2024. Therefore, the Court GRANTS the parties’ joint request. Having considered the matter, THE COURT FINDS that there is good cause to extend the time for Defendants to answer, move or otherwise respond to the complaint from January 22, 2024,...Ignored
DislikedThe CFTC turned a blind eye to Sam Bankman-Fried until his criminal activity was so blatantly exposed that they had to do something. Just another corrupt government agency.Ignored
Dislikedmaybe we can remain hopeful that this case will help to bring some clarity to this space.Ignored
DislikedPStrange I thought it was supposed to be 7 days traded but apparently 5 is good enough.Ignored
Disliked{quote} They started another 1 day yolo pass promotion so anyone currently in process will also benefit. What luck eh?Ignored
Disliked{quote} You can make 6% in one day and pass but, hey, we don't want gamblers ! If we look into profit / max DD we need to make 120% in one day (and I'm forgetting the trailing DD, wich would make thinks even worse). This prop industry is a complete circus, ehehehIgnored
Disliked{quote} lol.. I am one of the fx migrants.. never traded futures before.. first time,, it seems fun,, this morning trades.. i dont even know how to calculate P & L .. I just blindly traded it Since Topstep has a consistency rule, I have to stop trading for the day.. {image}Ignored
Disliked{quote} AHAHAHAH, you made me laugh with the "blindly traded". Main difference between fx props and futures is that index futures work in 0.25 ticks (and not in 0.01) and we need to use the micro S&P size (MES) which is $5 per point (so $1.25 per each 0.25 tick) or the emini S&P size (ES) which is 10x bigger so 50x per point (so $12.5 per 0.25 tick). Emini Nasdaq (NQ) $20 per point (so 5 per 0.25 tick) and micro Nasdaq (MNQ) $2 per point (so 0.5 per 0.25 tick) Same for everything else. Each instrument, oil, gold, wheat, pork, etc. has it's own specs....Ignored
Disliked{quote} Cryptosurf, question for you : it is easier to make money in futures prop trading vs FX prop ?Ignored
Disliked{quote} For indices most FX prop firms have too low leverage. Except for FTMO (and MFF) which have decent leverage and no commissions. It allows for some sloppy trades. Futures have better executions imo however no allowance for slop as commissions will eat away at your P&L.Ignored