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Breaking News: CFTC charges FXCM with undercapitalization

  • #41
  • Sep 7, 2016 9:47pm Sep 7, 2016 9:47pm
I am not going to do this for you. I've made the first move. Its YOUR turn now.

You have a name. You have a phone number. Use them to your advantage, or decide not to. The choice is yours. However, if you don't at least try, I don't want to see another thread posted by anybody claiming what their "Retail Broker" did to their account or how their "Retail Broker" screwed them into the ground. I'm simply not going to want to hear that nonsense after this.

You've got a real company that simply wants to know that it can recover its launch costs and be profitable long-term. It is at least willing to hear from other Traders about something other than just another "Retail Brokerage."

If you fail to make that call then I feel sorry for you, because you are going to continue reading Headlines like the one this thread leads with in the future - guaranteed.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #42
  • Sep 7, 2016 9:57pm Sep 7, 2016 9:57pm
Quoting iDoubleStoch
{quote} You've been lobbying for it for YEARS but you have never had anyone on the other end of the telephone willing to TALK to you about it. I've done that for you. All you have to do is wake up and realize that somebody out there is NOW willing to at least have a real conversation with you about something different than a "Brokerage" model. Now, if you can't see the distinction and differential between dreaming about something and actually having the MEANS to make it a reality, then I feel for you. I don't need a Retail Trading Account anymore....
This is just one big advertisement for Philip Capital. IF Philip Capital REALLY want to establish a true Forex Exchange for retail traders, it would've first approached all the institutions and the white labels to get the liquidity and volume for an exchange and offer it to us retail traders like LMAX in UK did. The interest from us retail traders is there; it's NOT us who needs to make the first move. It's the institutions who needs to get on board.

And the fact that Philip Capital excludes Canadian traders, the most that it is just a local ECN instead of a true exchange.
Make your losses in demo. Earn your profits live.
  • #43
  • Sep 7, 2016 10:46pm Sep 7, 2016 10:46pm
Quoting iDoubleStoch
{quote} - Where does Nadex obtain its liquidity - How did the CME come into existence - When did Supply and Demand go out the window with common sense - More importantly, when did Supply ever drive Demand for an emerging market What are they teaching in Business School these days anyway and what the hell do I know about Trading. They currently hold $29 billion in client/customer assets. Do you not believe they want to increase that. I am 100% certain that somebody said the CME was a bad idea when it first got started. In fact, some people still...

OMG !!! Don't take it the wrong way my friend, I'm all for a better place/environment to trade

But lets be REALISTIC.

Retail forex is such a small niche market that I doubt something will ever change for our good.

I stopped trading forex short term and went to equities because of the collapse of volatility so I don't really care of what they make of it.

Now that said from the retail forex point of view there are a lot of more dangerous problems for traders than spread widening etc.

For retailers the worst enemy is inside themselves.
So, you think you have rights? LOL
  • #44
  • Sep 8, 2016 1:57pm Sep 8, 2016 1:57pm
Quoting ForexOracle
{quote} OMG !!! Don't take it the wrong way my friend, I'm all for a better place/environment to trade But lets be REALISTIC. Retail forex is such a small niche market that I doubt something will ever change for our good. I stopped trading forex short term and went to equities because of the collapse of volatility so I don't really care of what they make of it. Now that said from the retail forex point of view there are a lot of more dangerous problems for traders than spread widening etc. For retailers the worst enemy is inside themselves.
Small niche?

Why is Retail Forex such "small niche" market?
Why would IB offer Retail Forex to such a small niche market?
Why would Citi Bank spin-off CitiFX and offer Retail Forex to such a small niche market?
Why would Deutsche Bank spin-off dbFX and offer Retail Forex to such a small niche market?

Retail Forex transactions totaled over $315 billion per day as of July, 2016. Daily dollar volume on Nasdaq for September, 2016? A whopping $76.4 billion per day.

Why are Retail Forex Traders a danger to themselves? It is because of Traders who don't know what they are talking about and who routinely fail to do the homework. You just put Nasdaq, in the unworthy of your time column because you were being "realistic."

Unreal.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #45
  • Sep 8, 2016 3:02pm Sep 8, 2016 3:02pm
Quoting iDoubleStoch
{quote} Small niche? Why is Retail Forex such "small niche" market? Why would IB offer Retail Forex to such a small niche market? Why would Citi Bank spin-off CitiFX and offer Retail Forex to such a small niche market? Why would Deutsche Bank spin-off dbFX and offer Retail Forex to such a small niche market? Retail Forex transactions totaled over $315 billion per day as of July, 2016. Daily dollar volume on Nasdaq for September, 2016? A whopping $76.4 billion per day. Why are Retail Forex Traders a danger to themselves? It is because of Traders...

315 billion per day!!

I hope you understand that this number is leverage included....right?

Count 20:1 here in the USA and 50:1, 100:1, 400:1 and even 1000:1 on some places and you will see this number getting small pretty quick.

Equities have little or no leverage so the number is more or less correct.
So, you think you have rights? LOL
  • #46
  • Sep 8, 2016 6:01pm Sep 8, 2016 6:01pm
Quoting ForexOracle
{quote} 315 billion per day!! I hope you understand that this number is leverage included....right? Count 20:1 here in the USA and 50:1, 100:1, 400:1 and even 1000:1 on some places and you will see this number getting small pretty quick. Equities have little or no leverage so the number is more or less correct.

This is the main source I use to figure out what's going on within the business I run as a private fund manager:

Attached Image


This is the main report I use to figure out what's going on within the business I run as a private fund manager:

https://www.bis.org/publ/rpfx16fx.pdf


The sources of information you read and rely upon as a private fund manager to figure out what's going on within the industry in which you make a living may indeed differ. I know these documents like I know the back of my hand. I expect a Forex Trader to know the differential and distinction between Notional Value and Relative Cost Basis per transaction. A Forex Trader who does not understand those things might want to consider doing slightly more homework before attempting to correct an Interbank Trader and Private Fund Manager who does.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #47
  • Sep 9, 2016 3:05am Sep 9, 2016 3:05am
Quoting iDoubleStoch
{quote} This is the main source I use to figure out what's going on within the business I run as a private fund manager: {image} This is the main report I use to figure out what's going on within the business I run as a private fund manager: https://www.bis.org/publ/rpfx16fx.pdf The sources of information you read and rely upon as a private fund manager to figure out what's going on within the industry in which you make a living may indeed differ. I know these documents like I know the back of my hand. I expect a Forex Trader to know...

LOL !! You don't have to point me to the BIS website or suggest any of their publications.

When you use around 2 grand to open a full lot on the EUR/USD the BIS does not look at 2,000.00 actual value they look at 100,000.00 nominal value.

Now do your calculations.....

315 billion divided by ....lets say 50:1 leverage and it goes down to around 6 billion, which is the actual turnover.

And I'm assuming an ECN model. What about the bucketshops like oanda where the transactions are offset internally?

Another thing, 315 billion is worldwide.

If you count just the USA I will be surprise if we get to the 500 million per day. I will be VERY surprised.

If you are a real fund manager ( which I doubt ) and you don't know this basic things I feel really sorry for your customers !!
So, you think you have rights? LOL
  • #48
  • Sep 10, 2016 12:54pm Sep 10, 2016 12:54pm
Quoting ForexOracle
{quote} LOL !! You don't have to point me to the BIS website or suggest any of their publications. When you use around 2 grand to open a full lot on the EUR/USD the BIS does not look at 2,000.00 actual value they look at 100,000.00 nominal value. Now do your calculations..... 315 billion divided by ....lets say 50:1 leverage and it goes down to around 6 billion, which is the actual turnover. And I'm assuming an ECN model. What about the bucketshops like oanda where the transactions are offset internally? Another thing, 315 billion is worldwide....

None of what you just said makes any sense. So, what do you want me to comment on exactly? You've said nothing, apparently read nothing and seemingly understand nothing. I'm not a fund manager of a public facing firm. The level of reading and comprehension skills in the online trading community must be at an all time low. There used to be a time in the online trading community when people had at least good common sense.

I run my own trading firm that is not open to the public and never will be opened to the public. Unlike many online who are trying to sell you, you can't find anybody that has ever bought anything from me or my firm. I trade. That's what real Traders do. They trade. They don't spend their time selling things online. That's not a Trader, that's a marketing company, or a Retail Brokerage Bucket Pimp.

When you get to my level of trading, then I'll care about what you think. But, until you produce what I have produced or better, the only way I am going to care about what you think, is if you are capable of bringing some other kind of knowledge, skill or expertise to the table that we can both benefit from directly as independent Traders. Other than that, clueless types online are a dime a dozen.

Now, FXCM needs to be put completely out of business and it is my sincerest hope that they come to an abrupt end as a Retail Forex Broker in the United States and that another entity steps in to fill the void with a genuine STP/ECN Forex Exchange that is fair and transparent to its Membership. There has been enough corruption in Retail Forex to last an entire lifetime or two, or three, or four. This Industry does not need more "Brokers" making fools of their customers.

The BIS Report was given to you so that you can educate yourself. If you don't want to educate yourself, a most Retail Traders don't, then that your problem.

http://www.financemagnates.com/forex...-5-5-trillion/

Excerpt:

Attached Image


At the end of the day, after more than 15 years, I'm still here trading and not selling - with 10 of those years spent actually learning how to do it correctly.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #49
  • Sep 10, 2016 1:57pm Sep 10, 2016 1:57pm
Quoting iDoubleStoch
{quote} None of what you just said makes any sense. So, what do you want me to comment on exactly? You've said nothing, apparently read nothing and seemingly understand nothing. I'm not a fund manager of a public facing firm. The level of reading and comprehension skills in the online trading community must be at an all time low. There used to be a time in the online trading community when people had at least good common sense. I run my own trading firm that is not open to the public and never will be opened to the public. Unlike many online who...

LOL !!!!
So, you think you have rights? LOL
  • #50
  • Sep 10, 2016 2:33pm Sep 10, 2016 2:33pm
Quoting ForexOracle
After almost 10 years doing it and very profitable for the last 4 or 5 years I learned something.
Ok, let's hear it.

Quoting ForexOracle
If you want to be a successful trader ( be it Forex, equities or anything else) you have to know how to lose.
And, that's what 10 years in this business has taught you. How to lose.


Quoting ForexOracle
Trust me !!
No. I don't trust anybody who has not yet learned how not to take an 'absolute' loss.


Quoting ForexOracle
There is nothing beyond TAKE YOUR LOSSES !!
No. I hate losing. I refuse to lose capital. That's how you become a better Trader and that's how you get outside the box of convention and start developing tools that enables you to stop taking losses and deluding yourself into thinking that its good for you.

If you are going to continue being a Directional Trader, then you need to learn how to account for:

Timing
Direction
Magnitude
Probability

In every single one of your trades. Else, you are doing what is tantamount to guessing about Direction and that has no long term successful signature as a Directional Trader.

Or, when you really have learned something about trading, you will cross the barrier and start trading Non-Directionally. In this way, the only variables you need to account for are:

Timing
Magnitude

You've just removed 50% of the problems in all of trading by shifting from Directional to Non-Directional Trading. Now, you have to ask yourself, what does Non-Directional mean in a Spot FX market where there are no derivatives to cover your naked trades. For the answer to that question, I'm going to let you figure it out on your own, Einstein.

Learn how to lose? No, Albert. Learn how to Mitigate Risk and you won't ever have to worry about learning how to lose as a matter of inefficient compensation ever again. That is what 10 years as a real Trader should have taught you. Risk Mitigation is by definition Profit Orientation. To the degree you mitigate risk, is the same degree to which you maximize profits. It is an inherent inverse relationship, Niels Bohr.

Now. Figure out how to put on a Non-Directional Synthetic Strangle and/or a Non-Directional Synthetic Straddle without an options contract. The moment you do that will be the moment you discover Near Zero Risk Trading (NZRT).

Otay? Ok. You have a nice day.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #51
  • Sep 10, 2016 2:51pm Sep 10, 2016 2:51pm
Quoting ForexOracle
{quote} LOL !!!!
LOL is all you can give to this idiot idouble. What a pathetic loser, calling himself a "private fund manager", LOL private fund loser is more like it. .

Watch how he's going to write an essay to respond to our one-sentence statements, it's hilarious.

*getting popcorn ready*
Make your losses in demo. Earn your profits live.
  • #52
  • Sep 10, 2016 3:05pm Sep 10, 2016 3:05pm
Quoting Forexia
{quote} LOL is all you can give to this idiot idouble. What a pathetic loser, calling himself a "private fund manager", LOL private fund loser is more like it. . Watch how he's going to write an essay to respond to our one-sentence statements, it's hilarious. *getting popcorn ready*

No, I'm just shaking my head at how childlike and foolish you Trolls happen to be.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #53
  • Sep 10, 2016 4:08pm Sep 10, 2016 4:08pm
Quoting Forexia
{quote} LOL is all you can give to this idiot idouble. What a pathetic loser, calling himself a "private fund manager", LOL private fund loser is more like it. . Watch how he's going to write an essay to respond to our one-sentence statements, it's hilarious. *getting popcorn ready*
The endless walls of text he produces in this forum alone shows he is a complete nutter. Its utterly pathological. Its possible he really believes his delusions (being a fund-manager millionaire with 3 private jets and what not). The guy should seek help.
  • #54
  • Sep 10, 2016 4:15pm Sep 10, 2016 4:15pm
Quoting shrike
{quote} The endless walls of text he produces in this forum alone shows he is a complete nutter. Its utterly pathological. Its possible he really believes his delusions (being a fund-manager millionaire with 3 private jets and what not). The guy should seek help.
I am just astounded how he got "high impact" rating on here. FF really needs to review and revise how it assigns impact rating to members. This guy contributes nothing but garbage and shameless promotion of non-forex brokers here. He's the last poster for all of the threads pretty much in the Brokers section.
Make your losses in demo. Earn your profits live.
  • #55
  • Sep 10, 2016 7:52pm Sep 10, 2016 7:52pm
Quoting Forexia
{quote} I am just astounded how he got "high impact" rating on here. FF really needs to review and revise how it assigns impact rating to members. This guy contributes nothing but garbage and shameless promotion of non-forex brokers here. He's the last poster for all of the threads pretty much in the Brokers section.
As I said before I'm around FF since 2007 ( I had a different username before) so I lost count of " fund managers", "gurus", "experts" etc I encountered here.

I could easily write a very interesting book about some characters I had the opportunity ( or misfortune ) to encounter here over those years.

The veterans here will remember BRUCE !!!! The Canadian "fund manager" busting here and at the oanda forum about his genius

Turned out he was a con man who robbed some here and at oanda.

Dove Alliance, Cloggy and others.....the list goes on.

They were all " high impact" members and they all had the same ability to fool the naive.

FF wants traffic, so they don't particularly care too much about it.

Actually if you think about it, popular members do a big service to FF so why bother them even if they are full of it?

This guy IDOUBLESTOCH fit the profile perfectly.

In the past it was funny to follow those scammers and see how they operate. Now its kind of boring and I'm not wasting time on him anymore.
So, you think you have rights? LOL
  • #56
  • Sep 10, 2016 8:16pm Sep 10, 2016 8:16pm
Quoting ForexOracle
{quote} As I said before I'm around FF since 2007 ( I had a different username before) so I lost count of " fund managers", "gurus", "experts" etc I encountered here. I could easily write a very interesting book about some characters I had the opportunity ( or misfortune ) to encounter here over those years. The veterans here will remember BRUCE !!!! The Canadian "fund manager" busting here and at the oanda forum about his genius Turned out he was a con man who robbed some here and at oanda. Dove Alliance, Cloggy and others.....the list...
I'm just not clear on what everyone's issue is with this guy. US traders (who do not trade offshore) are stuck with FXCM, Oanda, and Forex.com. We are fooled to believe because they are "regulated" by the NFA, they are good brokers. This guy is pushing for something different, something that would be good for US traders. As I mentioned above, I think everyone is just at the point where they are just accepting to trade with brokers who cheat,lie and steal. They will complain about it but will do nothing to attempt to change it. I do not want to trade futures or equities, I want the freedom to trade spot fx with whom I chose, just like the rest of the civilized world does.
  • #57
  • Sep 10, 2016 8:21pm Sep 10, 2016 8:21pm
Quoting ForexOracle
{quote} As I said before I'm around FF since 2007 ( I had a different username before) so I lost count of " fund managers", "gurus", "experts" etc I encountered here. I could easily write a very interesting book about some characters I had the opportunity ( or misfortune ) to encounter here over those years. The veterans here will remember BRUCE !!!! The Canadian "fund manager" busting here and at the oanda forum about his genius Turned out he was a con man who robbed some here and at oanda. Dove Alliance, Cloggy and others.....the list...
One thing that contributes to those toxic behaviour is FF's previous vouch system. FF used to base the "rating" of a member on how many vouches he/she gets from his/her fellow FF members and what ends up happening is they all form some kind of "buddy system" where they just vouch for each other regardless so all of sudden they all end up being "gurus" with super high number of vouches that really doesn't reflect the quality of that member's posts or contributions to FF. FF has abolished the flawed vouch system in favour of this "impact" system and it's supposed to be better but you still end up with idiots like idouble that slips through the system.
Make your losses in demo. Earn your profits live.
  • #58
  • Sep 10, 2016 9:09pm Sep 10, 2016 9:09pm
Haha i remember Bruce. He was next-level. Didnt he get busted in Canada in the end?
  • #59
  • Sep 10, 2016 9:29pm Sep 10, 2016 9:29pm
Quoting shrike
{quote} The endless walls of text he produces in this forum alone shows he is a complete nutter. Its utterly pathological. Its possible he really believes his delusions (being a fund-manager millionaire with 3 private jets and what not). The guy should seek help.

What amazes me is how you so-called "traders" have become moonlighting psychologists with the ability to know what someone has or has not done in their lives. That's most telling thing of all about you clowns. You are so stuck and the muck and mud of mediocrity and sub-standard performance as Traders, that you can't fathom anyone or anything pulling ahead and away from where you are right now.

None of you Trollish Naysying lack luster "Traders" really knows anything about what you are saying or why you are saying it. The real pathology here is the Sheeple Mentality with which you wannabes are so willing to grasp, instead of grasping that which make you a better Trader. None of you Trolls have graduated from retail hell and that is not flaw. What is a serious flaw is that you sit here complaining about Retail Bucket Shops while never taking the necessary step to alleviate yourselves from them.

Lastly, the total lack of understanding you have behind the 60 year old indicators you use to trade with is proof positive that you really have no clues about what you are doing. Yet, you real against anything new, anything you don't understand and anything you can't understand. Rather than grow and expand your trading knowledge by doing actual data driven empirical analysis of root causation for market behavior, you download yet another indicator to your MT4 platform hoping and praying (foolishly) that somehow magic will happen and your trading accounts spring forth with life and abundance. You are about as prepared to be successful in this business as Donald Trump is prepared for being President of the United States of America. Both of you are delusional.

Now, here is Root Causation behind all Financial Market behavior:

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_65 Sep. 10 19.15.jpg Size: 92 KB


That's called Transequential Contiguous Delta Signature. There is no market outside of that signature. There is no price history outside of that signature. There is no trading that ever takes place outside of that signature. There is no bid and there is no ask outside of that signature. The mathematical derivation of that signature sits at the core of all price behavior. There is no market behavior that exists outside of that mathematical derivation.

This is the translation of that Transequential Signature:

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_65 Sep. 10 19.18.jpg Size: 46 KB


Converting the Causation Signature in to the Effect of a trade decision is the heart and soul of Modern Technical Analysis, as I have defined it. Since I have not written a book on how to accomplish this, you won't know how to do it unless you get it directly from me. And, since I have no time or desire to write a book nor sit here online trying to teach the ineducable Trolls who can't see their own hand directly in front of their face, you can rest assured that you won't be able to do this.

The problem with Trolls in the now destroyed online trading community is that you have been allowed to take over forums and spew nonsequitur bullshit upon the four walls of common sense, better judgement, creativity and motivation to become a better trader.

Keep pretending that you are actually engage in the business of trading and when I return next year, I guaranteed that you will be no wiser, no wealthier and in no more control of your own personal time than you are right now, because of your insolence, stupidity and rank immaturity.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
  • #60
  • Sep 10, 2016 9:33pm Sep 10, 2016 9:33pm
Quoting pipmaster77
{quote} I'm just not clear on what everyone's issue is with this guy. US traders (who do not trade offshore) are stuck with FXCM, Oanda, and Forex.com. We are fooled to believe because they are "regulated" by the NFA, they are good brokers. This guy is pushing for something different, something that would be good for US traders. As I mentioned above, I think everyone is just at the point where they are just accepting to trade with brokers who cheat,lie and steal. They will complain about it but will do nothing to attempt to change it. I do not want...

Let'em suffer. Certain bone headed human beings won't change until they have suffered enough. When they get tired of being bled dry by the Bucket Shop Pimps posing as "honest brokers" they will come to see the light. Until then, let'm figure it out on their own. You do what you need to do in order to survive and thrive.
F-X-C-M | A Classic Retail Bucket Shop Scam Artist Who Manipulates Prices
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