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From Retail Broker to Prime Broker and WHY

  • #1
  • First Post: Edited May 15, 2017 9:58am May 9, 2017 12:33pm | Edited May 15, 2017 9:58am
This video provides a much needed education for the New Trader. Though my trading approach is completely different than the speaker's fundamental approach, what we both agree on is the nature of Retail FX Brokers and the relationship they have with Retail FX Traders. This video is for Educational Purposes. I am not a sales representative. I'm simply one of the 5% who made it through commitment, hard work, dedication, persistence and maintaining a creative (Outside The Box) mindset about developing my own trading technology.

Retail Bucket Shops will not like this video. Introducing Brokers will not like this video. Forex Trading Gurus will not like this video. However, the Retail Trader who is trying to understand why things may not be working for them at this stage in their Trading Career, will indeed benefit from the sentiment in this video and some of the cold harsh realities the presenter puts forth.

Let this presentation serve as your wake-up call to start taking your trading seriously and to commit yourself to the Business of Trading, as opposed to the allure of quick profits.

Let this be a "lesson" to you and not mere "entertainment."

Inserted Video

The Event Horizon
  • #2
  • May 9, 2017 1:08pm May 9, 2017 1:08pm
Inline with the video's educational and underlying premise, I would like to point out that some Retail Brokers also have total control over the supposedly independent trading forums they use to market their services. Here is one such forum which shall remain nameless and which refuses to allow my posts to be seen by the public when they highlight the reprehensible behavior of certain Retail Brokers:

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On second thought, I'll name them. The Forum is EliteTrader. It was founded by "Baron" who in connection with FXCM allowed the libelous and slanderous posts made by either one of its employees or an employee of FXCM, when it used personal customer information that only FXCM had in its possession.

It is not merely a matter of trading with a Bucket Shop. As a Retail Trader, you MUST verify the integrity of the Intermediary you use, exactly as Anton mentions. You have to know that the people you are doing business with are indeed Men and Women of character and integrity. Else, you could end up a victim of their lack of the same.
The Event Horizon
  • #3
  • May 9, 2017 1:21pm May 9, 2017 1:21pm
Be fully aware of the fact that certain Retail Brokers have Retail Broker Employees engaged on the forums you use, posing as "Traders" themselves.

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The Event Horizon
  • #4
  • May 9, 2017 4:57pm May 9, 2017 4:57pm
Quoting iDouble
This video provides a much needed education for the New Trader. Though my trading approach is completely different than the speaker's fundamental approach, what we both agree on is the nature of Retail FX Brokers and the relationship they have with Retail FX Traders. This video is for Educational Purposes. I am not a sales representative. I'm simply one of the 5% who made it through commitment, hard work, dedication, persistence and maintaining a creative (Outside The Box) mindset about developing my own trading technology. Retail Bucket Shops will...
Brutal, but Much needed Information.

Appreciate for a great video.
  • #5
  • May 9, 2017 6:09pm May 9, 2017 6:09pm
Quoting aaven
{quote} Brutal, but Much needed Information. Appreciate for a great video.
Yes, indeed. It was a bit harsh, but very necessary. Glad you were educated and/or informed by it, because that was the intention.
The Event Horizon
  • #6
  • May 9, 2017 8:31pm May 9, 2017 8:31pm
Another commercial...but this one is a 2++ Hour Commercial.....awesome...
  • #7
  • May 10, 2017 3:34am May 10, 2017 3:34am
Quoting iDouble
{quote} Yes, indeed. It was a bit harsh, but very necessary. Glad you were educated and/or informed by it, because that was the intention.
I was. Learned few new things...
  • #8
  • May 10, 2017 3:39am May 10, 2017 3:39am
Quoting Jbomb21990
Another commercial...but this one is a 2++ Hour Commercial.....awesome...
JBomb,

These Days, any free seminar seems to have a sales pitch in one form or an other...

But, it is an interesting video nonetheless {atleast for me}:

Learned new things like financial turn, how a broker getting regulated in a country like Cyprus gets the regulation ported to FCA...

Many of the things he mentioned are known or people being aware, but he put most of them all in a proper flow, sort of ties things up...

Thanks
  • #9
  • May 10, 2017 4:03am May 10, 2017 4:03am
Yep good video but nothing really new/surprising
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #10
  • May 10, 2017 4:21am May 10, 2017 4:21am
"80% of day trades ended with a loss in the last 6 years" - how is that not a statistic he just pulled out of his @$$?
And if he's hot, why doesn't he just take off his sweater? I assume he has a long sleeve shirt on underneath. Why bunch up the sleeves? Can't he just clip his mic onto his shirt? What the hell is he hiding under there?

I liked that show Anton Kreil was in about 5 ears ago called "Million Dollar Traders". Back then he wasn't afraid of taking off his sweater..
  • #11
  • May 10, 2017 2:27pm May 10, 2017 2:27pm
Quoting Jbomb21990
Another commercial...but this one is a 2++ Hour Commercial.....awesome...

And, from the looks of the kind of posts you make on this forum, I would not be surprised if you did not have the capacity to read the OP's statement that "I am not a sale representative."

I don't sell. I trade. And, I don't do production trading on a retail trading platform. You were told flat out to let this be a "lesson" to you and not mere "entertainment."

The overriding message in the video was crystal clear and apparently never understood by you. That can only mean one thing - you must fit into one of the categories that Anton, talks about. You are either a retail broker, an IB for a retail broker, a retail broker "sales rep" dressed-up to look like a "trainer," or a guru posing as a real trader. Either way, nothing removes that stark truth that the video discusses. Personally, and even despite the fact that Anton, does run a business, I would make this video one of the requirements for any Newb in Forex who is serious about getting up to speed. He cuts straight through the nonsense and tells it like it is.

I do not agree with Anton about the most optimal way to trade. He is a fundamentalist while I am a technical analyst. He has honed an approach the comes from his 15 year background in fundamentals and traditional concepts. I come from a 15 year technology background in the fundamentals of data and empirical analysis. So, we clearly did not make our way through to being successful Trader's using the same door. Having said that, I had no choice (exactly as he outlines) but to go through Retail Hell, in order to reach the other side and a PM relationship. He never had to do that given the path he took. That path was not open to me and the other 5% of "Retail Traders" who do finally make it and learn how to consistently grow capital.

You can look for the "sales pitch" if you want to. Or, you can let this video be a "lesson" and an "education" to you, as opposed to merely an entertaining "infomercial." He put real, hard hitting information into his "sale pitch." I was focused on the "hard hitting information" and not the "sales pitch." And, Newbs need to see this, so they can understand what they are up against.

How the Newb gets out of Retail Hell, is completely up to them. I've been out of Hell since 2005-2007. However, I was in Hell for five (5) years burning my ass off and developing skill, knowledge and expertise before I found Heaven. And, "Heaven" is a PM relationship when you are trading currencies.

Go back and watch the video and please allow it to be a "lesson" to you, not mere "entertainment."

Oh, and by the way, you can rest assured that the USD will at some point cease to become the world's reserve currency, as the SDR is now in the best position it has ever been in to make that happen. The one thing you missed in your post about the RMB in that other thread I scanned, is the 2010 IMF Restructuring Protocol and the reshaping of the SDR composition now taking effect. When that happens and the global restructuring is completed, the USD will go into hyper inflation as the Petro Dollar will shift, causing an earthquake in the United States economy and wherever the USD is being used as a transactional currency.

Learn, so you can earn.
The Event Horizon
  • #12
  • May 10, 2017 2:32pm May 10, 2017 2:32pm
Quoting aaven
Learned new things like financial turn, how a broker getting regulated in a country like Cyprus gets the regulation ported to FCA...
That's the Retail side of Cyprus. Wait until you discover the "other" side of Cyrprus, where the big boys live to "operate" out of. All of a sudden, "offshore" will have a whole new meaning to you and for good reason.
The Event Horizon
  • #13
  • May 10, 2017 2:49pm May 10, 2017 2:49pm
Dude (or Stalker if you prefer)...relax! Perhaps you should look into having your meds adjusted. I never said the OP was a "salesperson"! YOU MADE THAT UP to justify your weird rant! My post stated that the video is a 2+ hour commercial...and it IS! End of story....now go do some yoga or meditation or something to calm those demons....



Quoting iDouble
{quote} And, from the looks of the kind of posts you make on this forum, I would not be surprised if you did not have the capacity to read the OP's statement that "I am not a sale representative." I don't sell. I trade. And, I don't do production trading on a retail trading platform. You were told flat out to let this be a "lesson" to you and not mere "entertainment." The overriding message in the video was crystal clear and apparently never understood by you. That can only mean one thing - you must fit into one of the categories that Anton, talks...
  • #14
  • May 10, 2017 3:17pm May 10, 2017 3:17pm
Quoting Horne
"80% of day trades ended with a loss in the last 6 years" - how is that not a statistic he just pulled out of his @$$?
If Goldman Sachs is positively closing out annually at a rate of 80%/90%, then somebody must be losing at that same rate or equivalent in the aggregate. I believe that's what he demonstrated with screen prints from the GS website. He's not saying that you cannot trade successfully with a retail broker. He's saying the vast majority of retail traders don't because they are duped into never learning how to trade properly.

Quoting Horne
I only ever day trade. I will never hold a position overnight, never pay a swap rate or concern myself with dividend adjustments.
Therefore, it must a possibility that you might be somewhat biased towards the statement that 80%/90% of retail "day" traders lose over time?

I think the video focuses on a broader range of causation behind the seemingly perpetual failure rates of the retail trading segment. I don't think it is an indictment of all Retail Traders, but an overall indictment of the notion that somehow the retail side of the business is in anyway designed and/or built to serve the real needs of the pure retail trader.
The Event Horizon
  • #15
  • May 10, 2017 3:25pm May 10, 2017 3:25pm
Quoting Jbomb21990
Dude (or Stalker if you prefer)...relax! Perhaps you should look into having your meds adjusted. I never said the OP was a "salesperson"! YOU MADE THAT UP to justify your weird rant!

Quoting Jbomb21990
Another commercial...but this one is a 2++ Hour Commercial.....awesome...


Those are your own words. What is a "commercial" if not a sales pitch. If the OP creates the thread and one believes they are watching a "commercial," then by logical extension and definition one also believes they are being sold something and you cannot have something sold to you without a "salesperson" being involved.

Logically, you just argued yourself into a full and complete circle, but that's something I've come to expect from retail trading forums over the years. You may continue your circular logic, but I won't be replying to it - nor will it ever turn you into the kind of trader who can escape the Retail Hell that is alluded to in the video above.

And, finding your way out of Hell is precisely your mission. Unless, of course - you represent one of the tokens mentioned above who perpetuate the retail broker system that creates the cycle of bondage in the first instance. Which - is up for you to decide.
The Event Horizon
  • #16
  • May 10, 2017 3:33pm May 10, 2017 3:33pm
Quoting michisuperfr
Yep good video but nothing really new/surprising

I knew they made money on the spread and on the "terms." However, I must say that the part about making money on the credit spread must have been something I either never knew, or forgot a long time ago, as I found that to be very interesting. It also helps to explain the severe markup that retail traders pay at the pump (point of execution), reading between the lines.

It was nice overall indictment. Both well delivered and well deserved. You could walk that speech into a court room and set-up a nice conviction downrange a bit with some good witnesses and an equally nice closing argument.
The Event Horizon
  • #17
  • May 10, 2017 11:01pm May 10, 2017 11:01pm
Quoting iDouble
{quote} That's the Retail side of Cyprus. Wait until you discover the "other" side of Cyrprus, where the big boys live to "operate" out of. All of a sudden, "offshore" will have a whole new meaning to you and for good reason.
iDouble,

Thanks for the inputs. Are there any online sources that you could refer that go into detail about the "other side of Cyprus"? Curious about the Big Boys operations.

In your experience, does delving deep into how the hedge funds{Big Boys} are structured, their regulation, or for that matter how Exchanges work and any other info enhance the edge of retail trader?

Thanks
  • #18
  • May 11, 2017 6:12am May 11, 2017 6:12am
Quoting iDouble
{quote} If Goldman Sachs is positively closing out annually at a rate of 80%/90%, then somebody must be losing at that same rate or equivalent in the aggregate. I believe that's what he demonstrated with screen prints from the GS website. He's not saying that you cannot trade successfully with a retail broker. He's saying the vast majority of retail traders don't because they are duped into never learning how to trade properly. {quote} Therefore, it must a possibility that you might be somewhat biased towards the statement that 80%/90% of retail...
that wasn't the quote I was referring to. 80%/90% of retail "day" traders probably do lose over time.

I had another look and it's at 1:15:20 in the video.
"day trading has only worked 20% of the time in the last 15 years (NYSE listed equities & major FX pairs)."
He's quite adamant this is a legitimate statistic, as if there is only one way to day trade. I know real people personally who day trade and have a higher win rate than 20%.
  • #19
  • May 13, 2017 2:47am May 13, 2017 2:47am
Does any one have the copy of video ???? the video is removed from youtube...
In the court of lord, only love and devotion is counted...
  • #20
  • May 13, 2017 4:51am May 13, 2017 4:51am
Nowadays there are almost thousands online retail broker are available and most of them are found to be scams. But the prime broker always has strong regulation and does not cheat with their traders at all. they always ensures security of funds at any kinds of investments with a wide range of trading technologies.
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