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  • #19,961
  • Sep 2, 2023 9:17am Sep 2, 2023 9:17am
Quoting Boulder
{quote} it’s not about what I prefer, it’s about the firms I use not get caught by regulators as MFF since MFF is in house liquidity provider, acting as a broker but not registered
Ok, I got your point but I think more important that the LP is the location.

On Monday I still prefer FTMO or TFF (european props with own server) than MFFx or TFT (8 cap but US companies)
  • #19,962
  • Sep 2, 2023 9:19am Sep 2, 2023 9:19am
Quoting Cryptosurf
{quote} Apparently they had been under investigation for over a year. It’s more than compliance issues. They were intentionally putting traders at a disadvantage as a business model. No way to polish that turd. {image}
What the regulators do not understand, once again because they have no experience in the field they are regulating, is what they are reading and claiming are simply ways of simulating live conditions.....if this wasn't done, the cheaters, as Takisd has demonstarted over and over again, can manipulate a demo envirionment.
They were simply weeding out the cheaters, the problem is they were using terminology that only those in the market on a daily basis would use and it sounds way worse than it actually is. If anything, it should be a good thing they were simulating live conditions, which were still BETTER than folks get on a live market. Only about 1% of us understand this and there is no way in hell the regulators will.
  • #19,963
  • Sep 2, 2023 9:25am Sep 2, 2023 9:25am
Almost at page 1000. I know, I need to get out more.
  • #19,964
  • Sep 2, 2023 9:26am Sep 2, 2023 9:26am
Quoting pipmaster77
{quote} What the regulators do not understand, once again because they have no experience in the field they are regulating, is what they are reading and claiming are simply ways of simulating live conditions.....if this wasn't done, the cheaters, as Takisd has demonstarted over and over again, can manipulate a demo envirionment. They were simply weeding out the cheaters, the problem is they were using terminology that only those in the market on a daily basis would use and it sounds way worse than it actually is. If anything, it should be a good...
Very good point. I experienced a lot of better trading conditions in many props. I'm thinking about TFF with basically no slippage on low lots or in the old TPT which had wider spreads but absolutely zero slippage most of the times, even at turbulent times (btw, when we see this we should be suspicious and not happy because the company is more prone to be attacked by cheaters, which was the case with TPT).

People should stop a bit to think how can a prop simulate real trading conditions. It's an extremely difficult thing and probably MFF was the best doing it in a reasonable fair way.
  • #19,965
  • Edited 9:53am Sep 2, 2023 9:27am | Edited 9:53am
Amazing world we are living in where CASINOS are legal since they have license. People don't call them fraud.
Regulated brokers who scams the same way CFTC is blaming MYFF and people are not calling regulated ones as Fraud
Drugs are legal in canada but genuine prop firm with may have questionable practice offers way better conditions than regulated ones and allow payouts but still people call PONZI by that logic I should call Canadian government as DRUG DEALER AND similar US ones as MAFIA as guns are allowed.
Investor or traders who gets misleaded by such sentence like "Real market orders, liquidity pool etc" in this day and age should not have money they could have given money to neighbors if they are so naïve
  • #19,966
  • Sep 2, 2023 9:28am Sep 2, 2023 9:28am
Quoting Capablanca
{quote} I read that part and following and got the impression that they divided profitable traders in 2: 1. The cheating ones using arbs, HFT and so on. Those were banned or had slippage increased a lot (can we blame MFF for that ?) 2. The consistent profitable ones. Those were divided in: a) Hitting them with real condition slippage b) moving them to real trading, depositing the equivalent of the max DD (risk is covered from then on) Both 2a) and 2b) are probably real trading condition that should even be applied to challenges and B-booked traders....
Yes, the problem is, the regulators have no clue what they are regulating, so they will not even begin to wrap their heads around any of these points, especially 2a and 2b.
I would still choose MFF over any firm out there. They never cheated me. Why? I never cheated them. I may have never gotten huge payouts, but that is my low risk style of trading.
  • #19,967
  • Sep 2, 2023 9:31am Sep 2, 2023 9:31am
Quoting pipmaster77
{quote} What the regulators do not understand, once again because they have no experience in the field they are regulating, is what they are reading and claiming are simply ways of simulating live conditions.....if this wasn't done, the cheaters, as Takisd has demonstarted over and over again, can manipulate a demo envirionment. They were simply weeding out the cheaters, the problem is they were using terminology that only those in the market on a daily basis would use and it sounds way worse than it actually is. If anything, it should be a good...
Im no fan of the regulators. I also don't think it was a mere case of "weeding out the cheaters." Everything they were doing was counter to how they portrayed and marketed themselves.

There was a long standing complaint about slippage. A lot of us thought it was unfounded. Turns out they were slipping people as a business model.
There were also complaints about them using algo's to blow peoples accounts. A lot of us thought it was unfounded as well. Even Takisd was pouring cold water all over that. Turns out they were running that algo as a business model.

There's no shame in admitting that MFF duped us in believing they were a legit business. Hell I made decent money off of them.

Like I said before, theres no way to polish MFF"s turd to make it stink any less.
Trade with confidence, trade without fear.
  • #19,968
  • Sep 2, 2023 9:33am Sep 2, 2023 9:33am
Quoting pipmaster77
{quote} Yes, the problem is, the regulators have no clue what they are regulating, so they will not even begin to wrap their heads around any of these points, especially 2a and 2b. I would still choose MFF over any firm out there. They never cheated me. Why? I never cheated them. I may have never gotten huge payouts, but that is my low risk style of trading.
We should not be naïve. Now we see more specifically how MFF controlled the risk (although we suspected about that).
The other props with own servers do the same, we are fool thinking otherwise.
The remaining ones with third part broker either parametrize slippage, delayed execution and so on or they control the risk using IPs rules, reverse trading accusation, KYC inconsistencies, etc. to deny payments.

Now you chose...
  • #19,969
  • Sep 2, 2023 9:33am Sep 2, 2023 9:33am
Quoting sampat
Amazing world we are living in where CASINOS are legal since they have license. People don't call them fraud. Regulated brokers who scams the same way CFTC is blaming MYFF and people are not calling regulated ones as Fraud Drugs are legal in canada but genuine prop firm with may have question practice offers way better conditions than regulated ones and allow payouts but still people call PONZI by that logic I should call Canadian government as DRUG DEALER AND similar US ones as MAFIA as guns are allowed. Investor or traders who...
May be they have attacked purposely for reasons which We all may not know.

Sad. When this war going to stop ?

God save all of us.
Intraday only.
  • #19,970
  • Sep 2, 2023 9:35am Sep 2, 2023 9:35am
Quoting Capablanca
{quote} Very good point. I experienced a lot of better trading conditions in many props. I'm thinking about TFF with basically no slippage on low lots or in the old TPT which had wider spreads but absolutely zero slippage most of the times, even at turbulent times (btw, when we see this we should be suspicious and not happy because the company is more prone to be attacked by cheaters, which was the case with TPT). People should stop a bit to think how can a prop simulate real trading conditions. It's an extremely difficult thing and probably MFF...
Exactly. The only thing MFF was doing was preventing the cheaters from scamming hundreds of thousands of dollars by cheating on conditions. My view is they were protecting themselves, which, in turn, was protecting anyone getting paid by them.
Once again, if you see it any other way, I am sorry you failed their challenge(s) and I am sorry you are not a profitable trader, however, that is not due to anything MFF did to you.
If you are happy about what has happened to MFF, look in the mirror and honestly admit to yourself why it makes you happy.
  • #19,971
  • Sep 2, 2023 9:38am Sep 2, 2023 9:38am
Quoting Capablanca
{quote} Sorry to sound harsh but someone that is not able to adjust risk in order not to overtake 5% DD in a single day should never be thinking about trading. I'm not even taking considerations about the brutality of losing 5% in a single day (which btw is 50% of the allowed total 10% DD).
That simply is one of the main reasons why they are hunting prop firms. Because of the dd rules.

For people who trade, ignorance of risk mgt is indeed cause for serious loss.
Trading is gambling. So gamble responsibly.
  • #19,972
  • Sep 2, 2023 9:40am Sep 2, 2023 9:40am
The thing is there is no real interbank market for smaller FX orders. That starts around 50 lots or 100 lots in increments of at least 50 lots. If anyone buys with 2.5 lots any FX it means they never hit the interbank market in FX. So that is why there are such slippages and delays and different quotes. One needs to be counterpart anyways, if that is the prop, or the broker, or the liquidity provider behind. To say from regulators, it is all ilegal b-booking is just too simple, as it is not the case in the real world trading Spot Forex. The CFTC cannot compare this to FX Futures traded on the CME which they have in focus.
  • #19,973
  • Sep 2, 2023 9:48am Sep 2, 2023 9:48am
Facts. https://www.compareforexbrokers.com/...ng/statistics/

Although 29% of retail investors achieve capital gains, 99% of fx traders fail to make profits for more than 4 continuous quarters.

That is the real world fact which needs to be considered from CFTC in their claim, because it seems they are not doing this. They say it is because of the conditions on MFF that so many people fail and the profitable traders are so low in the number. That is not the case!
  • #19,974
  • Sep 2, 2023 9:49am Sep 2, 2023 9:49am
Quoting TrAndy1
The thing is there is no real interbank market for smaller FX orders. That starts around 50 lots or 100 lots in increments of at least 50 lots. If anyone buys with 2.5 lots any FX it means they never hit the interbank market in FX. So that is why there are such slippages and delays and different quotes. One needs to be counterpart anyways, if that is the prop, or the broker, or the liquidity provider behind. To say from regulators, it is all ilegal b-booking is just too simple, as it is not the case in the real world trading Spot Forex. The CFTC...
Because the regulators are unaware/no specific knowledge in this field, their court notice looks very ordinary to us.

They seem to have picked up.. some internal messages, conversation and made case of it.

They want full or part of 300 millions. That is the main intention.
Intraday only.
  • #19,975
  • Sep 2, 2023 9:51am Sep 2, 2023 9:51am
Quoting navk
{quote} May be they have attacked purposely for reasons which We all may not know. Sad. When this war going to stop ? God save all of us.
Nope it will wipe out all prop firms. The problem with regulation is that they will make prop firm conditions like shit which will result in more failed challenges
Compare Futures prop firm you will get idea. How expensive they are with 10 times worst conditions and price.
Look what they did for Forex, Binary Options and now props.
  • #19,976
  • Sep 2, 2023 9:52am Sep 2, 2023 9:52am
Quoting Cryptosurf
There was a long standing complaint about slippage. A lot of us thought it was unfounded. Turns out they were slipping people as a business model. There were also complaints about them using algo's to blow peoples accounts. A lot of us thought it was unfounded as well. Even Takisd was pouring cold water all over that. Turns out they were running that algo as a business model.
You made me reread again sections 79 onwards and I see nothing of that.

- Low slippage everyone I think it's a normal thing when simulating real trading conditions
- They suspended a guy that was using an arb EA and asked for the code to either ban him or STP him
- On the winners they classified some as aggressive (I think it's the ones using big lots or High frequency). More slippage on them (and delayed executions). This also happens in real world in most of the brokers
- They identified an account using a bot producing profits. They said they needed an new profile classification for that and more slippage to it.
- Short term, high frequency trading strategies were hit with more slippage
- Traders that were very profitable but not in any category were moved to STP

So, some category of traders had more slippage ? Yes, but what it is describer also gets a lot of slippage in real time.
So, if MFF needed to mimic real conditions they had to treat different profiles in different ways IMO.
  • #19,977
  • Sep 2, 2023 9:54am Sep 2, 2023 9:54am
Quoting Cryptosurf
{quote} Im no fan of the regulators. I also don't think it was a mere case of "weeding out the cheaters." Everything they were doing was counter to how they portrayed and marketed themselves. There was a long standing complaint about slippage. A lot of us thought it was unfounded. Turns out they were slipping people as a business model. There were also complaints about them using algo's to blow peoples accounts. A lot of us thought it was unfounded as well. Even Takisd was pouring cold water all over that. Turns out they were running that algo as...

this is common over net, different places found different shittyhead fan bases praising their favorite firms. other firms slippage, is not ok but favorite firms is ok. double standard behavior
  • #19,978
  • Sep 2, 2023 9:55am Sep 2, 2023 9:55am
SCIENTIST DISCOVERED WHY MOST TRADERS LOSE MONEY – 24 SURPRISING STATISTICS

  1. 80% of all day traders quit within the first two years. 1
  2. Among all day traders, nearly 40% day trade for only one month. Within three years, only 13% continue to day trade. After five years, only 7% remain. 1
  3. Traders sell winners at a 50% higher rate than losers. 60% of sales are winners, while 40% of sales are losers.2
  4. The average individual investor underperforms a market index by 1.5% per year. Active traders underperform by 6.5% annually. 3
  5. Day traders with strong past performance go on to earn strong returns in the future. Though only about 1% of all day traders are able to predictably profit net of fees. 1
  6. Traders with up to a 10 years negative track record continue to trade. This suggests that day traders even continue to trade when they receive a negative signal regarding their ability. 1
  7. Profitable day traders make up a small proportion of all traders – 1.6% in the average year. However, these day traders are very active – accounting for 12% of all day trading activity. 1
  8. Among all traders, profitable traders increase their trading more than unprofitable day traders. 1
  9. Poor individuals tend to spend a greater proportion of their income on lottery purchases and their demand for lottery increases with a decline in their income. 4
  10. Investors with a large differential between their existing economic conditions and their aspiration levels hold riskier stocks in their portfolios. 4
  11. Men trade more than women. And unmarried men trade more than married men. 5
  12. Poor, young men, who live in urban areas and belong to specific minority groups invest more in stocks with lottery-type features. 5
  13. Within each income group, gamblers underperform non-gamblers. 4
  14. Investors tend to sell winning investments while holding on to their losing investments. 6
  15. Trading in Taiwan dropped by about 25% when a lottery was introduced in April 2002. 7
  16. During periods with unusually large lottery jackpot, individual investor trading declines. 8
  17. Investors are more likely to repurchase a stock that they previously sold for a profit than one previously sold for a loss. 9
  18. An increase in search frequency [in a specific instrument] predicts higher returns in the following two weeks. 10
  19. Individual investors trade more actively when their most recent trades were successful.11
  20. Traders don’t learn about trading. “Trading to learn” is no more rational or profitable than playing roulette to learn for the individual investor.1
  21. The average day trader loses money by a considerable margin after adjusting for transaction costs.
  22. [In Taiwan] the losses of individual investors are about 2% of GDP.
  23. Investors overweight stocks in the industry in which they are employed.
  24. Traders with a high-IQ tend to hold more mutual funds and larger number of stocks. Therefore, benefit more from diversification effects.

  • #19,979
  • Sep 2, 2023 9:56am Sep 2, 2023 9:56am
https://investguiding-com.ngontinh24...ail-in-trading

Years of research, studying, mentoring traders to find out that majority of traders fail for these reasons.

The top 4 points

Traders are indisciplined. They have a strategy, create a plan but often they won't respect it, getting highjacked by a thought, a friend, a feeling

Traders have no patience. They will anticipate a trade because they want to be part of the party no matter what. They will be late and still take the trade because they won't want to miss it as if that's the only opportunity in their lives.

Traders will lack confidence. Without confidence a trader cannot use size and confidence is made by having consistency and consistency comes from: - experience - backtesting your strategy - practice

Traders focus only on strategy rather then mind. How many hours a traders spends in backtesting but never takes a 1-on-1 with a mentor about discipline, psychology, focusing on retraining the brain to understand and practice an emotional balance state of trading.
  • #19,980
  • Sep 2, 2023 9:57am Sep 2, 2023 9:57am
Quoting Cryptosurf
{quote} Turns out they were slipping people as a business model.
FTMO surviving without slipping people, do you really think MFF needed to do this? Slippage problem is totally overrated.
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