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  • #22,061
  • Sep 18, 2023 1:52pm Sep 18, 2023 1:52pm
Quoting Cryptosurf
{quote} It is a great read. Still murky if he actually did what they accused him of. It’s a classic story of “beating the system”. He got tired of the serial spoofing by larger institutions, so he built a better spoofing algo. He tried alerting the authorities of the blatant manipulation, but he was just a little guy. They decided to make him the scapegoat and the spoofing by larger institutions continue to this very day.
I thought it was well written and I'm glad someone told his story. Like you say, on it goes.... and anyone wanting to trade futures perhaps should read this first.
  • #22,062
  • Sep 18, 2023 1:53pm Sep 18, 2023 1:53pm
Quoting Markula
I knew it would too good to be true to earn a living by trading in the US. in a short while nothing will exist and it will be back to the slow grind to nowhere at a 9 to 5 for most people in this vast parking lot country. there's no point to try to do anything until next year when things might be clearer but the events of this year have already convinced me, you're doomed if u live in the US, and not somewhere else. might as well twiddle my thumbs the rest of the year and watch movies and play video games.
Get rid of the victim mentality.

There is an endless stream of money-making opportunities outside of a 9-5 job
Pride always comes before destruction.... -Proverbs 16:18
  • #22,063
  • Sep 18, 2023 1:58pm Sep 18, 2023 1:58pm
Quoting Expo33
{quote} Get rid of the victim mentality. There is an endless stream of money-making opportunities outside of a 9-5 job
only this would afford me the ability to reach millions because I PUT THE WORK IN to develop a superior system. Doing anything else is stupid, it's like telling a pastor to become a plumber. I'm not passionate about other stuff, I've been at this a looooooooong time waiting for this country to actually be slightly better than Zimbabwe, I've met people from there and they have it better in many ways too
  • #22,064
  • Sep 18, 2023 2:01pm Sep 18, 2023 2:01pm
Quoting mrdfx
I just ready about this on the FF homepage, has anyone checked them out yet, it looks interesting. I remember PF was trading with Axi, but this looks like a new program they have launched. https://www.axi.com/int/funded-trader-programme
Thanks for the tip, at least trading this via an established broker would be much "safer" or say legitimate, than any Prop firm out there right now until they settle the legal issues.

It takes a lot for me to IGNORE you, but you can try.
  • #22,065
  • Sep 18, 2023 2:02pm Sep 18, 2023 2:02pm
I have spent enough time in the US to know that money making opportunities are abundant there. But the country itself is really blah. Was never one for the consumerism. But getting a 6 figure job isn't that hard there if you have half a brain. Getting a 6 figure job where I am from is like unicorn tier. You have to be a rocket scientist or better.

If you have a good trading system and know how to utilize leverage, there is no reason you can't make money with oanda or forex. com. Yes the trading costs are a bit more but scalping systems are inherently stupid long term. Find something on a wider outlook and use the local brokers if you have an edge and a little capital. Rome wasn't built in a day.
  • #22,066
  • Sep 18, 2023 2:11pm Sep 18, 2023 2:11pm
Quoting Takisd
I have spent enough time in the US to know that money making opportunities are abundant there. But the country itself is really blah. Was never one for the consumerism. But getting a 6 figure job isn't that hard there if you have half a brain. Getting a 6 figure job where I am from is like unicorn tier. You have to be a rocket scientist or better. If you have a good trading system and know how to utilize leverage, there is no reason you can't make money with oanda or forex. com. Yes the trading costs are a bit more but scalping systems are inherently...
that might have been true years ago but the reality is that it takes about 10 years to reach that income for most sectors unless you do something like doctor; I'm not high IQ enough to do that, I'm only good at trading , can't do advanced math, medicine, computers, I've failed all that, this is my calling. If this doesn't work out the most I'm make is 10k a year
  • #22,067
  • Sep 18, 2023 2:11pm Sep 18, 2023 2:11pm
Quoting Takisd
{quote} FTMO have this thing where if they deny you, they send you a legal notice not to publicly do anything for threat of law suit. They have the whole risk management rules etc. That being said FTMO are good..
would that scare you off ?

you have the truth on your side , I would be happy to take this case publicly AND to court..
  • #22,068
  • Sep 18, 2023 2:12pm Sep 18, 2023 2:12pm
Quoting Markula
{quote} only this would afford me the ability to reach millions because I PUT THE WORK IN to develop a superior system. Doing anything else is stupid, it's like telling a pastor to become a plumber. I'm not passionate about other stuff, I've been at this a looooooooong time waiting for this country to actually be slightly better than Zimbabwe, I've met people from there and they have it better in many ways too
Trade a 10K account earning 1% a week and in a few years you'll be using C-notes for toilet paper
Pride always comes before destruction.... -Proverbs 16:18
  • #22,069
  • Sep 18, 2023 2:13pm Sep 18, 2023 2:13pm
I think it also has to do with the difficulty to master the Forex trading market. It is more difficult I think compared to Futures or even stocks. Stocks are easiest to master I think. There are many special situations where you can make some money from stocks but with limited amount as they are not that liquid as futures or FX. So with the higher liquidity the competition is also higher I am guessing, so trading EURUSD is one of the most difficult symbols you can trade on. Shorting penny stocks for example on reverse split days is much easier (maybe) to make some (piece of) money. That is why the USA banned the whole FX industry except larger players. For most retailers or traders with no financial backup they probably going to loose everything and so fast that they cannot see where and what mistakes they have done given the leverage the FX market usually offers. Even 50:1 leverage is higher leverage, for most other brokers going to use full 500:1 leverage is just insane. I have not seen any strategy that can survive with leverage higher than 100:1 longer term. But I am not a HFT person or frequent scalper (so maybe). I do not want exclude anyone here. So given those facts it is just too easy to loose much money in no time and FX market and even mid term it is not easy to have a consistent profitable strategy. Most are just gamblers. And on stocks, except daytrading on prop firms (professional ones) you do not get that leverage. Only on futures you get some decent leverage but only intraday and for very limited amount of contracts. The higher the leverage the more difficult it becomes to be consistent profitable, as being consistent profitable on higher leverage means faster profits and higher returns. And very high monthly returns are incredible difficult to achieve. So here is the dispute with the Forex industry I am guessing. Not because it is not all regulated and they do not pay all exchange fees. That would be too small for that kind of politcs I guess. My two cents here.
  • #22,070
  • Sep 18, 2023 2:16pm Sep 18, 2023 2:16pm
Quoting Expo33
{quote} Trade a 10K account earning 1% a week and in a few years you'll be using C-notes for toilet paper
I'm a swing trader though I dont think I can compound 1% every week on 30 min charts, that's why I need a big account size; I made 4% a month with the prop firms about given the 5% drawdown
  • #22,071
  • Sep 18, 2023 2:29pm Sep 18, 2023 2:29pm
Quoting Takisd
{quote} try Optiver and propex, let us know how it goes
Optiver pays $14m to settle oil futures manipulation claims. Very good...
  • #22,072
  • Sep 18, 2023 2:29pm Sep 18, 2023 2:29pm
Quoting Stoneyrocks
{quote} would that scare you off ? you have the truth on your side , I would be happy to take this case publicly AND to court..
They pay me when i ask so i dont have the issue. But others do and some have publicly shown the proof. . Would it scare me off? no but its not worth the cost of the law suit.
  • #22,073
  • Sep 18, 2023 2:30pm Sep 18, 2023 2:30pm
Quoting Tim_isoara
{quote} Optiver pays $14m to settle oil futures manipulation claims. Very good...
Maybe they should have put "Virtual funds" in their text.
  • #22,074
  • Sep 18, 2023 2:41pm Sep 18, 2023 2:41pm
Quoting Takisd
{quote} FTMO have this thing where if they deny you, they send you a legal notice not to publicly do anything for threat of law suit. They have the whole risk management rules etc. That being said FTMO are good..
Could you elaborate on this further? For me, FTMO makes the most serious impression of all the providers. If what you say here is true and there is evidence of it, I would be surprised that they are still in business.
  • #22,075
  • Sep 18, 2023 2:48pm Sep 18, 2023 2:48pm
Quoting Boulder
{quote} just try another type of trading. I only use hft in the prop firms that allow hft. , only for demo accounts, not for live accounts due to high slippage. .
Used hft, passed two firms in one day, Nova and infinite, Nova live account after KYC 3 days, only issue is they pay crypto only, which I have never done before, I may need someone helps here one day; and infinity still has to fulfill those 10 days min trading days..
not sure both firms will pay, I just took a chance on them,,,
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  • #22,076
  • Sep 18, 2023 2:50pm Sep 18, 2023 2:50pm
Quoting lddd
{quote} Could you elaborate on this further? For me, FTMO makes the most serious impression of all the providers. If what you say here is true and there is evidence of it, I would be surprised that they are still in business.
There was a famous influencer it happened to. The reason they are still in business is that they are the oldest and most people fail.
  • #22,077
  • Sep 18, 2023 2:50pm Sep 18, 2023 2:50pm
Quoting Boulder
{quote} Used hft, passed two firms in one day, Nova and infinite, Nova live account after KYC 3 days, only issue is they pay crypto only, which I have never done before, I may need someone helps here one day; and infinity still has to fulfill those 10 days min trading days.. not sure both firms will pay, I just took a chance on them,,, {image}
nice tick scalping
  • #22,078
  • Sep 18, 2023 3:13pm Sep 18, 2023 3:13pm
Quoting Markula
{quote} that might have been true years ago but the reality is that it takes about 10 years to reach that income for most sectors unless you do something like doctor; I'm not high IQ enough to do that, I'm only good at trading , can't do advanced math, medicine, computers, I've failed all that, this is my calling. If this doesn't work out the most I'm make is 10k a year
Construction workers, plumbers, electricians, sales, teenage YouTubers, etc,etc. Anyone with a skill or some work ethic can make over 100K
Pride always comes before destruction.... -Proverbs 16:18
  • #22,079
  • Sep 18, 2023 3:16pm Sep 18, 2023 3:16pm
Quoting Markula
I knew it would too good to be true to earn a living by trading in the US. in a short while nothing will exist and it will be back to the slow grind to nowhere at a 9 to 5 for most people in this vast parking lot country. there's no point to try to do anything until next year when things might be clearer but the events of this year have already convinced me, you're doomed if u live in the US, and not somewhere else. might as well twiddle my thumbs the rest of the year and watch movies and play video games.
You will stop bitching when you will start making money. Everyone has issues and USA is a county with the issues(fucking liberals may eventually kill America), but USA is still the greatest and strongest country in the world.
  • #22,080
  • Sep 18, 2023 3:24pm Sep 18, 2023 3:24pm
Quoting Takisd
{quote} FTMO have this thing where if they deny you, they send you a legal notice not to publicly do anything for threat of law suit. They have the whole risk management rules etc. That being said FTMO are good..
I wonder if we can do the reverse. We present a claim against them and them make it public. We are no disclosing anything about the past relationhich is confidential. We are disclosing a claim we made against that. Not sure if legally would be the same and would breach any kind of confidentiality.
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