Flying Dutchman

Sadly, another one bites the dust !! MFF is down.

Unless you're paying the Vig,
they'll eventually crush your gig
Just business I imagine.



Trade well folks,
the 1st of Sept, the northern hemisphere summer holidays are over, and some hungry sharks might enter our recent relatively calm waters.

Market Making #101 (imho)

We start price somewhere, then we rapidly go somewhere else, and then in the blink of an eye we change direction and go rapidly in the opposite direction lol.
And when we get there, we may stop again, and in the blink of an eye we turn around completely and go right back - to where we originally started from

One of many moves.
(ps dont just go looking for a perfect mirror repeat of the same, traders, that's where MM #102 might catch ya )

Anyway, trade safe folks, trade well.

.

Not as random as it looks.................... DO , PD NYC, DPV and PDL attractors

Watch out NFP today, so some dark arts will be at play.

Dax session round up -maybe could have made better use of 50% line?

VIG ?

No trading this afternoon. Have a good week end all
And watch out - Red news about.

DAX- Asia (Kevin) Box to PD Asia (Kevn) Box Trade. Asia running the Show.

I hope it's not a MFF EFFECT.

At first, I thought you were Cussing .........

Sorry turnip, mate it had to be one of my long posts hahaaa (as I had tried to stopp all that a while back)


Hi t


The Vig, commission etc is usually that was is paid as part of a charge for some fiscal participation (interest on a loan, a charge for a betting slip with a bookie etc) so loosely ie it’s a charge incurred for some monetary participation with someone else.

For example, back in my horse-playing days here in Aus I would go to the racetrack and bet directly with a bookmaker, using cash, and the bookie paid a fee to the raceclub for the use of their premises and the listing of their proprietary race fields for us to bet on.

The bookies made their markets to around 117% so “IF” they could lay each horse in the field for the same relative amount then for every $117 they took in their bag they would pay out the $100. Good work if you can get it.

The bookie paid their Vig to the raceclubs for allowing them to use their info and then just indirectly passed the cost on to us, the punters.

When the Big man Kerry Packer licenced the Aussie arm of the UK company Betfair here in Australia punters could then gamble amongst themselves ON LINE with some backing the horses to win and others laying the horses to lose (just like a bookie).

There was a percentage fee payable (by the winner only) to Betfair after the race which was the Vig. Else where would BF make any money for providing their interface for punters to punt.

But this was all in direct competition at the time to on-course bookies so there was now large “money” not going through the racecourses of which a local Vig charge was able to be extracted.

To get around this NSW Racing (initially) went to court and obtained the right to charge a Vig to Betfair for using their raceclubs' (proprietary) race field info
(ie horses by name, number, weight, jockey, distance etc etc).

Then BF passed on the Vig they now had to pay to NSW Racing to their BF customers with an ‘extra’ % over and above the original % paid by the winner of a bet (a double Vig if you like)


The bottom line imho is that whenever people ‘exchange’ money, many hands like to get a ‘cut’ along the way. Vig is just another word narrative now to explain this ‘cut’ occurance and in forex trading it would include things like ‘bet commission per round trip’ and also “spread’. ie cutting up the pie so many hands get a piece along the way.

With MFF I have no industry knowledge but it would appear to me as a layman that maybe these Prop Firms were not putting all the traded money through industry exchanges so this ‘cut’ (Vig) could be taken out (who knows, not me).

Maybe not all of the Prop Firm trades actually "go out’ to the exchanges/liquidity providers but some are handled in house by the firms themselves.
Which has NOTHING to do with whether their Prop Firm customers get payouts or not from the Firms, not what I mean, just that the money ‘held aside’ from going through the exchanges’ (if that indeed happens, I do not know) to be carved up further along the way from the larger industry.

MAYBE (and just imo) someone from the Big Side of Town lodged a complaint (like NSW Racing) claiming a proprietary hold over any prices quoted for trading as these prices were take from someone elses (legitimate broker/LiqProv) data maybe “without paying any Vig along the way” as the Big Side of Town might prefer lol.

So I was just thinking it was mainly a business decision from “higher up” WANTING A CUT and nothing really to do at the base level with anything like the reliability of the Prop Firms as such.


I heard the term Vig first in a Travolta film, “Get Shorty” (a terrific & funny film btw) and looked the word up way back then hahaaa.

https://www.imdb.com/title/tt0113161/

Even I was not sure... what was happening when I found out the chart was not updating.

I heard it is all Demo Accounts with Prop Firms, So even the Data Feed suppliers got shut off ?

A well co-ordinated shut down or were they warned this will happen if they don't pay their dues ?

They were not using any of the 3rd party brokers as MFF itself was also a broker. Since their bank account was seized, no liquidity to run any of their business.

hahaha..great film TT !

Poor old Bones


and also a young Tony Soprano in it too

Lunch time

And don't forget:

This Chicken is running away because it's a FRI(fry) day.