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  • #27,441
  • Dec 20, 2023 2:29pm Dec 20, 2023 2:29pm
Quoting Takisd
Regulation should go as far as:
1) Registration
2) Cap reserves in case of emergency (audited)
3) Audited financials
4) Qualified persons
5) thats it - the rest the consumer can decide what they want to do.
-I wouldn't even say this much. Honestly, regulation should be used for things like deterring market manipulation and ensuring honest and fair business practices etc.. Most of the nonsense that we see these days are things that we seem to have grown so accustomed to, that we no longer even question the legitimacy or usefulness of etc..

Registration is nonsense.

Having an insurance fund is nice to think about, but we are investors; we should understand the risks involved. It should be a choice, not a requirement; let client demand dictate and the rest will fall into place. Even operational solvency assurances would be nice, but again, we do not need government involvement here; let businesses fail or succeed on their own merits.

Audited financials is nonsense unless we want a guaranteed insurance fund or guaranteed-operational assurances etc.. As for the other stuff, let the IRS, FBI and other groups do their jobs.

Qualified persons is subjective; experience will usually trump a degree in most cases.

KYC requirements for retail traders is total nonsense. If retail trader is going to launder money or fund some criminal group, they are certainly not going to use a forex broker for that because there is no need to, and doing so would not be practical at all. This kind of activity should not even fall within the scope of regulators; we have law enforcement groups that are paid from our tax dollars to carry out investigations in order to catch these kinds of criminals.

At what point do we draw the line on over-regulation and governance? How far should we go to sacrifice our liberties, freedoms and privacy for a false sense of security? When regulation has become so restrictive and prohibitive, that it no longer serves the good of the people and even acts as a deterrent for well-intentioned business owners, at what point do we say enough is enough?

Maybe I am wrong about some of these things, and if so, I will concede to that. But surely, things do not need to be this complicated.
  • #27,442
  • Dec 20, 2023 2:37pm Dec 20, 2023 2:37pm
Quoting TrAndy1
There has been just a 1% sell-off in the SP500. You can dip buy it for at least 2% or 3% short term gains I would say. No advice of course. Just my thought if trend last.
2% sell off now
  • #27,443
  • Dec 20, 2023 3:14pm Dec 20, 2023 3:14pm
Quoting Takisd
{quote} So what would a Jury find them then?

They would do what juries always do in civil cases: produce a “finding of fact” in accordance with civil law.

THIS IS NOT A CRIMINAL CASE.

Why is this so hard for people here to understand?!
  • #27,444
  • Dec 20, 2023 3:36pm Dec 20, 2023 3:36pm
Quoting pipmaster77
On a side note, anyone thinking the yearly highs are in on the indices?
great question
A snails pace wins the race :-)
  • #27,445
  • Dec 20, 2023 4:02pm Dec 20, 2023 4:02pm
Quoting KarlKraus
{quote} They would do what juries always do in civil cases: produce a “finding of fact” in accordance with civil law. THIS IS NOT A CRIMINAL CASE. Why is this so hard for people here to understand?!
So you are focusing on what a ruling is called and not the fact that guilt and finding of fact is the same fucking shit. And most of all, you are on the internet huffing about it.

Finding guilt, finding of fact, finding him with his pants down and his dick in the neighbour, same shit different story, and the exact reason i can't be bothered talking about things on here anymore. Knit picking pointless crap.
  • #27,446
  • Dec 20, 2023 4:17pm Dec 20, 2023 4:17pm
Quoting Takisd
the exact reason i can't be bothered talking about things on here anymore. Knit picking pointless crap.
-Not worth taking things too seriously or personally most of the time.
  • #27,447
  • Dec 20, 2023 5:04pm Dec 20, 2023 5:04pm
Quoting pipmaster77
{quote} 2% sell off now
87 points not exactly 2%, only 1.8%. There has been a ca. 60 point pullback since early October, once I think, too. So this is in line with the recent pullbacks and trend. Of course are right when the SP500 goes another 85 points down, but I think the chances that we could see 5000 before are higher. Let's see.

We had 10% corrections around 3 times this year, I do not think it is already time for another correction. Of course a 5% pullback would be normal at some point...
but you never know when it does come, until then the SPX could continue (much) higher.
  • #27,448
  • Dec 20, 2023 5:17pm Dec 20, 2023 5:17pm
Quoting TrAndy1
87 points not exactly 2%, only 1.8%.
Quoting Takisd
Knit picking pointless crap.
-You were saying?
  • #27,449
  • Dec 21, 2023 5:20am Dec 21, 2023 5:20am
Quoting KarlKraus
THIS IS NOT A CRIMINAL CASE. Why is this so hard for people here to understand?!
I think it’s because some, who just like to try to "Be Right," are genuinely ill-informed enough to have no understanding at all of how even their own legal system works, mistakenly believing that the possibility of a jury being used in a court-case must somehow make it a criminal case(!); ironically, they sometimes end up relying on foreigners to correct their most basic factual misinformation.
  • #27,450
  • Dec 21, 2023 5:51am Dec 21, 2023 5:51am
The only thing that CFTC does not understand or do not WANT to understand that most people fail trading successfully. That is all what matters. They need to accept that 99% of people starting to trade will fail. That has nothing to do with props, they just mirror that kind of reality, nothing else. It has to do with the markets itself.
  • #27,451
  • Dec 21, 2023 6:30am Dec 21, 2023 6:30am
You really need to be an idiot to say, that only the spreads are faulty that traders are loosing. Even with perfect zero spreads most traders will loose. This is just reality.
  • #27,452
  • Dec 21, 2023 7:28am Dec 21, 2023 7:28am
I failed my $5k free ACG challenge in a couple of hours
Don't give up on your dreams. Keep sleeping.
  • #27,453
  • Dec 21, 2023 7:51am Dec 21, 2023 7:51am
Quoting Quickly
ironically, they sometimes end up relying on foreigners to correct their most basic factual misinformation.

That definitely can’t be right: after all, America is not so stupid that it could ever possibly try to learn anything at all from any other country.
  • #27,454
  • Dec 21, 2023 8:01am Dec 21, 2023 8:01am
Quoting KarlKraus
That definitely can’t be right: after all, America is not so stupid that it could ever possibly try to learn anything at all from any other country.
-The person that you've been arguing with isn't even American. You guys should start your own discord so that you can come up with new ways to pat each other on the back all day and revel in your anti-American sentiment.
  • #27,455
  • Dec 21, 2023 8:02am Dec 21, 2023 8:02am
Quoting Nsak3y
{quote}-The person that you've been arguing with isn't even American. You guys should start your own discord so that you can come up with new ways to pat each other on the back all day and revel in your anti-American sentiment.
Agreed.
  • #27,456
  • Dec 21, 2023 11:17am Dec 21, 2023 11:17am
Quoting Nsak3y
{quote}-The person that you've been arguing with isn't even American. You guys should start your own discord so that you can come up with new ways to pat each other on the back all day and revel in your anti-American sentiment.
Ironically all the circle jerking comes from accounts started within a month of each other.
  • #27,457
  • Dec 21, 2023 8:32pm Dec 21, 2023 8:32pm
Interested to hear any prop trader views and opinion on gaining maximum returns via the funded prop trading process and allocation of funds and differing risk profiles. Working on the proviso the trader has a quantifiable edge how is one’s “portfolio” of funded accounts best allocated to chase Alpha? A percentage of funded accounts that one plunges on high leverage/ high risk / high return with the acceptance of an inevitable blow up. Balanced with a more steady return via the remaining accounts producing income, and also capital to purchase “replacement” high risk Alpha evaluations and eventual higher risk funded accounts.
All thoughts and opinions welcomed.
  • #27,458
  • Dec 22, 2023 1:41am Dec 22, 2023 1:41am
When you don't intend to pay you can promote whatever non sense you want.
Attached Image (click to enlarge)
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  • #27,459
  • Dec 22, 2023 4:03am Dec 22, 2023 4:03am
Quoting Capablanca
When you don't intend to pay you can promote whatever non sense you want. {image}
Wow, I'm just going wow man, like wow!

What a business model. The discount industry.

But there is no holiday. It's Christmas.
  • #27,460
  • Dec 22, 2023 4:33am Dec 22, 2023 4:33am
Quoting Artcool
I failed my $5k free ACG challenge in a couple of hours
If you had fun in the process then you got value from it.
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