Proposed NFA Capital Requirement | Page 41 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

NFA case against Forex.com/Gain Capital 6 replies

NFA Takes Action Against Gain Capital 27 replies

What happens to brokers not meeting the NFA capital requirement? 4 replies

Is losing a requirement to be successful? 72 replies

MIG vs Northfinance Margin Requirement 2 replies

Attachments: Proposed NFA Capital Requirement
Exit Attachments

Proposed NFA Capital Requirement

  • #801
  • Jun 3, 2008 1:25pm Jun 3, 2008 1:25pm
Quoting Voldemort
Savior,
I have heard rumors of a new document detailing the effects of the farm bill. I cant seem to get my hands on it though. do you know anything about this or have you heard these rumors?
I'm waiting like everyone else. I'll update as soon as I have something.
  • #802
  • Jun 3, 2008 3:56pm Jun 3, 2008 3:56pm
My recent post questioning the validity of Caveman forex’s signals stirred up a chest thumping response from the Cro-Magnon community and like the cavemen from those Geico commercials they are up in arms over the stereotypes the Savior heaped upon them.

Therefore, the Savior has agreed to give the Cavemen a chance to defend their honor. I hereby am announcing “The Caveman Forex Challenge.”

Every Wednesday between 8-9pm Eastern Standard Time Caveman Forex posts a free trade off their signals:
http://www.cavemanforex.com/Wednesda...orexPicks.html

The Savior will be placing these trades on his own Hotspot demo account to test the validity of the signals and the Savior will report the outcome of the trade the following day. The Savior will do this for several months (let’s say three) and then officially give Caveman Forex either the Thumbs UP or Thumbs Down sign.

Alright you homo erecti, the whole trading community is watching you now. I’m giving you guys more publicity than you have ever had before so this is your big chance or else it’s back to caveman’s crib for you!

http://www.youtube.com/watch?v=8QlG2Nmp8og
  • #803
  • Jun 3, 2008 4:06pm Jun 3, 2008 4:06pm
Should be 'homines erecti' tho
  • #804
  • Jun 4, 2008 9:31am Jun 4, 2008 9:31am
Quoting forexsavior
My recent post questioning the validity of Caveman forex’s signals stirred up a chest thumping response from the Cro-Magnon community and like the cavemen from those Geico commercials they are up in arms over the stereotypes the Savior heaped upon them.

Therefore, the Savior has agreed to give the Cavemen a chance to defend their honor. I hereby am announcing “The Caveman Forex Challenge.”

Every Wednesday between 8-9pm Eastern Standard Time Caveman Forex posts a free trade off their signals:
http://www.cavemanforex.com/Wednesda...orexPicks.html

The Savior will be placing these trades on his own Hotspot demo account to test the validity of the signals and the Savior will report the outcome of the trade the following day. The Savior will do this for several months (let’s say three) and then officially give Caveman Forex either the Thumbs UP or Thumbs Down sign.

Alright you homo erecti, the whole trading community is watching you now. I’m giving you guys more publicity than you have ever had before so this is your big chance or else it’s back to caveman’s crib for you!

http://www.youtube.com/watch?v=8QlG2Nmp8og
Why doesn't caveman just show us how great his signals have been for is own live account. I mean if they are so good I am sure he is using them for his own account, right? Why are we wasting our time with this shit....
  • #805
  • Jun 4, 2008 11:56am Jun 4, 2008 11:56am
Quoting fxtrader42
Why doesn't caveman just show us how great his signals have been for is own live account. I mean if they are so good I am sure he is using them for his own account, right? Why are we wasting our time with this shit....
Just having some fun FXtrader. Hey cavemen discovered fire maybe they can discover the holy grail of forex too!
  • #806
  • Jun 5, 2008 7:14am Jun 5, 2008 7:14am
Quoting fxtrader42
Why doesn't caveman just show us how great his signals have been for is own live account. I mean if they are so good I am sure he is using them for his own account, right? Why are we wasting our time with this shit....

It's a way for savior to keep his thread on top of the forum.

Slick
  • #807
  • Jun 5, 2008 9:01am Jun 5, 2008 9:01am
Start a new thread. The caveman promotion is totally off topic.
  • #808
  • Jun 5, 2008 9:39am Jun 5, 2008 9:39am
Quoting opie999
Start a new thread. The caveman promotion is totally off topic.
Good idea, while you are it .... why not mention how many clients will have to settle for 4 brokers once this new regulation becomes fully active, how about mentioning that a lot of clients will probably invest their money with a non-US broker, and how many US brokers will close down and have to lay-off their employees.....Don’t forget to mention that we legalized a monopoly in our financial system.

Welcome to unreserved corruption.
  • #809
  • Jun 5, 2008 9:44am Jun 5, 2008 9:44am
Quoting cka6c
Good idea, while you are it .... why not mention how many clients will have to settle for 4 brokers once this new regulation becomes fully active, how about mentioning that a lot of clients will probably invest their money with a non-US broker, and how many US brokers will close down and have to lay-off their employees.....Don’t forget to mention that we legalized a monopoly in our financial system.

Welcome to unreserved corruption.
Now now, your starting to sound like me.

Regulating Only US brokers to death and forcing US traders to seek options offshore just to feel their money is safe from the NFA is obviously a good thing for the US forex industry.

Haven't you read anything our great savior has said?
The basis of a democratic state is liberty. ~ Aristotle
  • #810
  • Jun 5, 2008 11:23am Jun 5, 2008 11:23am
Quoting Vensik
Now now, your starting to sound like me.

Regulating Only US brokers to death and forcing US traders to seek options offshore just to feel their money is safe from the NFA is obviously a good thing for the US forex industry.

Haven't you read anything our great savior has said?
Now now, you're twisting savior's motive and the motive's of congress and the NFA.

Clearly, all this heavy handed regulation is for the good of us poor stupid retail traders. We simply are too lazy or lack the common sense to perform our own DD before choosing a broker. Soon it will be so much safer and easier because the government, in it's infinite wisdom >coff<, will make the choice for us.

Hey, it could be worse. You could be living in China.
  • #811
  • Jun 5, 2008 11:46am Jun 5, 2008 11:46am
Quoting opie999
Hey, it could be worse. You could be living in China.
Granted.


Because everytime the government steps in to help, the situation improves. Social Security? Awesome system.
Medicare? Works so well we want it to be manditory for everyone.
The basis of a democratic state is liberty. ~ Aristotle
  • #812
  • Jun 5, 2008 12:05pm Jun 5, 2008 12:05pm
A lot of pissing and moaning going on around here this morning.

Is the new capital requirement unfair? Sure it is. And I said so months ago and warned people to get off their asses and contact lawmakers. Did anyone actually do that? NOPE. All the firms effected by this law had a chance to chip in their two cents and they didn't say a damned thing. So if they are forced to go out of business at this point it is nobody's fault but their own.

Which begs the question why did all these small firms remain so silent as the law made its way through Congress?
  • #813
  • Jun 5, 2008 12:25pm Jun 5, 2008 12:25pm
Quoting forexsavior
Did anyone actually do that? NOPE. All the firms effected by this law had a chance to chip in their two cents and they didn't say a damned thing.
How do you know?
Quoting forexsavior
So if they are forced to go out of business at this point it is nobody's fault but their own.
But your honor, the victim didn't put up any sort of struggle. She simply laid there passively as she was brutally raped. She deserved it!
Quoting forexsavior
Which begs the question why did all these small firms remain so silent as the law made its way through Congress?
I'd like to know the answer to that question too. After all, congress is always far more responsive to the parties with less money, power, and political influence, aren't they?
  • #814
  • Jun 5, 2008 12:26pm Jun 5, 2008 12:26pm
Quoting forexsavior
Is the new capital requirement unfair? Sure it is. And I said so months ago and warned people to get off their asses and contact lawmakers. Did anyone actually do that? NOPE. All the firms effected by this law had a chance to chip in their two cents and they didn't say a damned thing. So if they are forced to go out of business at this point it is nobody's fault but their own.
So wait, you're shocked that small FX firms didn't heed the warning you personally gave them on a forexfactory forum post? Wow, how could they ignore that?
  • #815
  • Jun 5, 2008 12:37pm Jun 5, 2008 12:37pm
Quoting forexsavior
A lot of pissing and moaning going on around here this morning.

Is the new capital requirement unfair? Sure it is. And I said so months ago and warned people to get off their asses and contact lawmakers. Did anyone actually do that? NOPE. All the firms effected by this law had a chance to chip in their two cents and they didn't say a damned thing. So if they are forced to go out of business at this point it is nobody's fault but their own.

Which begs the question why did all these small firms remain so silent as the law made its way through Congress?
The NFA doesn't care to hear from Small firms, and I didn't see congress invite small firms up to say their peace. Small firms know they can't compete when the large firms control the NFA. There's not much point in arguing.

I write my senator and congressman probably once a month. I'm sure they're tired of hearing from me, but they DID get a letter from me on this 2 months or so ago. Sometimes I get a uniform response letter, sometimes not. I pay them to be there, they might as well here my opinion.

Last letter was written last week about Cap in Trade, but that's another thread.
The basis of a democratic state is liberty. ~ Aristotle
  • #816
  • Jun 5, 2008 12:56pm Jun 5, 2008 12:56pm
At some point you have got to take responsibility for your own business fellas. Everyone in the industry knew about this law. Yet where were the company press releases? Where was the organized lobbying? As Bob Dole once said "where's the outrage?!"

No. Instead you could hear the crickets chirping in the forex industry here in the U.S. Everyone acted as if nothing was going on. The response from smaller brokers seemed to be "maybe if we're real quiet they'll leave us alone." If Washington only hears the NFA's side of the story well then that is who they are going to believe.

If you want to blame someone for the passage of this law, blame the man in the mirror.
  • #817
  • Jun 5, 2008 12:58pm Jun 5, 2008 12:58pm
Quoting forexsavior
At some point you have got to take responsibility for your own business fellas. Everyone in the industry knew about this law. Yet where were the company press releases? Where was the organized lobbying? As Bob Dole once said "where's the outrage?!"

No. Instead you could hear the crickets chirping in the forex industry here in the U.S. Everyone acted as if nothing was going on. The response from smaller brokers seemed to be "maybe if we're real quiet they'll leave us alone." If Washington only hears the NFA's side of the story well then that is who they are going to believe.

If you want to blame someone for the passage of this law, blame the man in the mirror.
And you did what about it?
The basis of a democratic state is liberty. ~ Aristotle
  • #818
  • Jun 5, 2008 1:00pm Jun 5, 2008 1:00pm
Quoting Vensik
And you did what about it?
Like Paul Revere I tried to sound the alarm as I always do. that's all any man can do.
  • #819
  • Jun 5, 2008 2:43pm Jun 5, 2008 2:43pm
Congress passed a Farm Bill. How much time and effort did they expend weighing the pros and cons, debating the subtle nuances of every single rider that was buried deep inside that bill? Hah!

Our Congress Critters don't even read bills anymore. Their aides read them and condense and simplify them into Cliff notes! Give me a break. They will pander to whatever special interest provides the most potential votes or campaign donations. In this case, it was definitely not the IBs or the smaller brokers or even retail traders. The results would be exactly the same regardless of "company press releases", "organized lobbying", or "...outrage?!".

It would have been very interesting to see the outcome had the new broker regs been a standalone bill.

Savior, comparing yourself to Paul Revere is laughable. I can just imagine the smirk on your face as you typed those words.
  • #820
  • Jun 5, 2008 3:13pm Jun 5, 2008 3:13pm
Opie If you want to blame someone for the passage of this law, blame the Forex Dealer in the mirror.

"Forex Dealer In The Mirror"

I'm Gonna Make A Change
For Once In My Life
It's Gonna Feel Real Good
Gonna Make A Difference
Gonna Make It Right . . .

As I, Turn Up The Collar On
My Favourite Winter Coat
This Wind Is Blowin' My Mind
I See These Forex Dealers In The Street
With Not Enough To Capital to Meet
Who Am I, To Be Blind?
Pretending Not To See Their Needs

A Summer's Disregard
An unregulated IB shop
And A One Money Manager’s Soul
They Follow Each Other On
The Wind Ya' Know
'Cause They Got Nowhere To Go
That's Why I Want You To Know

I'm Starting With The Forex Dealer In The Mirror
I'm Asking Him To Change His Ways
And No Message Could Have Been Any Clearer
If You Wanna Make The Forex World
A More Competitive Place
Take A Look At Yourself
And Then Make A Change

(Na Na Na, Na Na Na, Na Na,
Na Nah)

Forex Dealers Been A Victim Of
A Selfish Kind of Love
It's Time That They Realize
That There Are Some with No
Adjusted Net Capital
Not A Nickel To Loan
Could It Be Really Me,
Pretending That They're Not Alone?

A Willow Deeply Scarred,
Some trader's Broken Heart
And A Washed-Out Dream
They Follow The Pattern Of
The Charts, Ya' See
Cause They Got No Place To Be
That's Why I'm Starting With Me!
1 trader viewing now