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  • #27,381
  • Dec 18, 2023 2:25am Dec 18, 2023 2:25am
Quoting Nsak3y
{quote}-Not sure which core issues you are referring to, but here in the States, we are seeing our opportunities dwindle by the day as we become lepers as a result of over-regulation. Believe it or not, many of the Americans that complain about regulation here are not anti-regulation. We understand that there is a need for regulation, and we even welcome it in some form. The problem is over-regulation... especially when it becomes so restrictive and prohibitive that it no longer serves the good of the people.
This is one of the top 5 reasons i can't be a US citizen, when i see parents try so hard for their kids to be a US citizen i laugh over it because
they don't actually understand how troublesome it is to be one.
You can't walk into any bank and say you want to open an account. You have to report every thing excerpt real estate i guess.
The fact that being a Us citizen does not automatically puts wealth into your hands yet you lose so many opportunities co's your one just because
of over regulation so this alone puts me off.
Am not Anti-Regulation.
Regulation is good to put things in place like right now any PropFirm should have
a minimum of 20 millions dollars or more with the regulators and everything about any prop should be as transparent as crystal.etc
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #27,382
  • Dec 18, 2023 2:59am Dec 18, 2023 2:59am
If I could choose and knew that human behavior didnt spiral into greed eventually and scamstery then I would be for non regulations. But its simple, Look at who do payout now even if its 2x about harder to get such account funded with futures prop firms. Still they payout. When it comes to futures prop firms at the moment they pay. Facts are facts. Apart from MFF obviously and FTMO at the time being.

Regulation keeps the prop firms at toes.
When it comes to brokers and regulations I personally cannot see why that should exist. Since people are less prone to gamble with brokers, and they cannot scam people the same way as prop firms does or entice the greed behavior in people. Facts shows forex brokers who are regulated are far worse than non regulated. Just look at any review online and you can compare the differences.

Regulate the prop firms, dont regulate brokers thx.
  • #27,383
  • Dec 18, 2023 3:07am Dec 18, 2023 3:07am
Quoting labu
Facts shows forex brokers who are regulated are far worse than non regulated
Probably the dumbest thing I've heard in a long time
Pride always comes before destruction.... -Proverbs 16:18
  • #27,384
  • Dec 18, 2023 3:48am Dec 18, 2023 3:48am
Quoting Expo33
{quote} Probably the dumbest thing I've heard in a long time
You are upset since I ignored you since you started to talk about degenerate matters in this topic especially not aligned with your footnote text and behavior.

Now as to if its the dumbest thing you have ever heard.
I give example from GPT4 bot compared regulated forex brokers and non regulated.

Regulated Forex Prop Firms:

  1. Regulated forex prop firms are subject to oversight and regulations imposed by financial authorities or regulatory bodies.
  2. These firms are required to adhere to specific rules and guidelines to ensure transparency, investor protection, and fair trading practices.
  3. The regulatory framework typically includes capital requirements, risk management protocols, and restrictions on leverage.
  4. The leverage offered by regulated forex prop firms may be limited to ensure the protection of traders and mitigate excessive risk-taking.
  5. The specific leverage limits may vary depending on the jurisdiction and the regulatory body overseeing the firm.

Non-Regulated Forex Prop Firms:

  1. Non-regulated forex prop firms operate without direct oversight from financial authorities or regulatory bodies.
  2. These firms are not bound by the same regulations and guidelines as regulated firms.
  3. Non-regulated forex prop firms may have more flexibility in setting leverage limits and other trading conditions.
  4. The absence of regulatory oversight means that traders may have to rely on the reputation and track record of the firm to assess its trustworthiness and reliability.

Even this AI understands non regulated is more flexible for the person when it comes to leverage etc and more freedom. What I mostly referred to was the forex brokers in USA actually. But even in general.
If you are a rich trader tons of capital. I can understand if what I said its the dumbest thing you have ever heard in your life what I said before. But otherwise for most of us normal people. No way.

  • #27,385
  • Edited 4:27am Dec 18, 2023 4:10am | Edited 4:27am
Quoting labu
{quote} You are upset since I ignored you since you started to talk about degenerate matters in this topic especially not aligned with your footnote text and behavior. Now as to if its the dumbest thing you have ever heard. I give example from GPT4 bot compared regulated forex brokers and non regulated. Regulated Forex Prop Firms: Regulated forex prop firms are subject to oversight and regulations imposed by financial authorities or regulatory bodies. These firms are required to adhere to specific rules and guidelines to ensure transparency, investor...
Didn't know you ignored me. What shall I do without the great labu.

Lots of assumptions with zero facts. Wow, you typed something into ChatGPT. Much easier than using any critical thinking skills. Seems GPT4 didn't account for the flawed regulation system where money talks and criminals walk. Good thing Oanda and Forex.criminals are regulated because they set the bar for morality and excellence for USA brokers.

Good thing FTX was regulated huh?

Thank God for regulation after all they did nothing when RobinHood refused to allow their customers to sell their Bitcoins when the market plunged. Zero consequences

Let's try to stay on topic here and refrain from exposing your intellectual impotence.

Run along now cupcake. Time to repeat third grade.

Cheerio
Pride always comes before destruction.... -Proverbs 16:18
  • #27,386
  • Dec 18, 2023 5:06am Dec 18, 2023 5:06am
Quoting labu
Facts shows forex brokers who are regulated are far worse than non regulated.
-Maybe in the US. But outside of the US, there are many regulated brokers that I would love to trade with, but cannot, simply because of my country of origin.
  • #27,387
  • Dec 18, 2023 5:24am Dec 18, 2023 5:24am
Quoting Takisd
Also one word that a select few do-gooders in here forget, "lobbying".
-I often try to keep my comments generalized and not too specific to avoid getting into the politics of things, but you are right, things like lobbying, corporate and political agendas; conflicts of interests etc. are often all at play here, and much of it is not realized, not even by those that reside here. The apathy-ignorance system that we have here is by design.

Even without all of the facts, all one often has to do is take the time to educate themselves, stay on top of current events and then just use their brain to start connecting the dots and asking the questions that no one in the media seems to be asking.

When you transition from ignorance-is-bliss to scratching your head, then on to becoming really upset and cynical about most things because you can finally start to read between the lines and understand not just what your are seeing, but why you are seeing it, then you know that you've reached your final destination. It all gets worse from here.
  • #27,388
  • Dec 18, 2023 9:25am Dec 18, 2023 9:25am
Quoting prop.kid
{quote} yes sure! you can via email which they send payout time {image}
Many thanks, great !!!
  • #27,389
  • Dec 18, 2023 9:27am Dec 18, 2023 9:27am
Quoting cuchuflito
{quote} Try Stocknet Institute, based in the UK, I have 4 accounts there for a year, no exams to pass, pay, and you get to trade. https://stocknetinstitute.com/ They are starting a complete overhaul of their offers, and services, promising the most "spectacular Prop firm", accounts with only 2 rules, etc. For the next 2 weeks, trading is suspended, till 20 Nov.Also new accounts will be available after the opening. They seem to be financially solid, not that I trust them completely. Just another prop. https://stocknetinstitute.com/...

They are now offering a 2 phase challenge. Normal parameters but lower first target of 8%. They are doing a two challenges for the price of one offer at the moment until end of December. Might be worth a punt? They have some payout history on their one phase challenge which has been going for a while.
Their 25k challenge is $150 so basically you're getting a 50k challenge for that price.

Downside is that they have no real presence on Discord or Telegram. Only website live chat or email. Trustpilot reviews seem OK.

P.S. They use Blueberry which IS a big plus. Also offer free trial
  • #27,390
  • Dec 18, 2023 9:44am Dec 18, 2023 9:44am
Quoting Nsak3y
{quote}- The apathy-ignorance system that we have here is by design. Even without all of the facts, all one often has to do is take the time to educate themselves, stay on top of current events and then just use their brain to start connecting the dots and asking the questions that no one in the media seems to be asking. When you transition from ignorance-is-bliss to scratching your head, then on to becoming really upset and cynical about most things because you can finally start to read between the lines and understand not just what your are...
But when one does this, they are labeled a conspiracy theorist........the irony . How dare you open your eyes, use common sense and question the agenda
  • #27,391
  • Edited 11:45am Dec 18, 2023 10:37am | Edited 11:45am
just a note...... had a bit of a fright...... my 8cap funded accounts vanished......

""""edit should have mentioned, myfundedfx accounts..... contract size and minimum lot size differs between think and 8..... so code must match....."""""

chat helped me out..... seems 8cap funded accounts were migrated to think markets...... have never had a single issue with 8 cap and was perfectly happy.......

also happy with thinkmarkets......

after my heart slowed down and my mind also, it appears this is a good thing......

having to maintain code to meet individual brokers with different specs and symbols is a real pain.......

in this case, less is merrier......h
to trade and code, keep both simple... no call to impress....h
  • #27,392
  • Dec 18, 2023 11:54am Dec 18, 2023 11:54am
Quoting pipmaster77
{quote} But when one does this, they are labeled a conspiracy theorist........the irony . How dare you open your eyes, use common sense and question the agenda
How is this for a conspiracy theory then??
https://thegreattaking.com/
  • #27,393
  • Dec 18, 2023 12:52pm Dec 18, 2023 12:52pm
Quoting fxbarwise
{quote} How is this for a conspiracy theory then?? https://thegreattaking.com/
Yes, they are selling this one as CBDC will cut down on illegal activities, tax evaders, etc.......Nope, not the purpose at all.....sounds good though, right?
  • #27,394
  • Dec 18, 2023 1:51pm Dec 18, 2023 1:51pm
Quoting hayseed
just a note...... had a bit of a fright...... my 8cap funded accounts vanished...... """"edit should have mentioned, myfundedfx accounts..... contract size and minimum lot size differs between think and 8..... so code must match.....""""" chat helped me out..... seems 8cap funded accounts were migrated to think markets...... have never had a single issue with 8 cap and was perfectly happy....... also happy with thinkmarkets...... after my heart slowed down and my mind also, it appears this is a good thing...... having to maintain code to meet individual...
Yes, MFFX closed all trades without notice after market close DURING rollover this weekend at the highest spread for the biggest loss for people that were with Eightcap and switched them to ThinkMarkets with no email announcement, no Discord announcement, no prior notification at all! Those running EAs or indicators like risk managers and trailing stops that are activated to specific account numbers will have to contact programmers to get them re-activated because it's a new account number now with a different broker. I wish there had been a 2-3 day announcement on this so we could have been proactive and closed out trades (or not opened new ones the last half of last week) and got our indicators, etc. moved over to a new MT5 platform and account, etc. before discovering this on a Friday night after market close. Very bad. Worse than FundingPips who decided to just ban Monday trading on a UAE holiday even though the markets were open, and not announcing it until Sunday afternoon. These prop firms keep setting new low bars for professionalism and customer service, LOL!
  • #27,395
  • Dec 18, 2023 3:07pm Dec 18, 2023 3:07pm
Quoting AaronPriest
{quote} Yes, MFFX closed all trades without notice after market close DURING rollover this weekend at the highest spread for the biggest loss for people that were with Eightcap and switched them to ThinkMarkets with no email announcement, no Discord announcement, no prior notification at all! Those running EAs or indicators like risk managers and trailing stops that are activated to specific account numbers will have to contact programmers to get them re-activated because it's a new account number now with a different broker. I wish there had been...
Revolutionizing the industry one lubricated anus at a time
Pride always comes before destruction.... -Proverbs 16:18
  • #27,396
  • Dec 18, 2023 3:57pm Dec 18, 2023 3:57pm
Quoting AaronPriest
{quote} Yes, MFFX closed all trades without notice after market close DURING rollover this weekend at the highest spread for the biggest loss for people that were with Eightcap and switched them to ThinkMarkets with no email announcement, no Discord announcement, no prior notification at all! Those running EAs or indicators like risk managers and trailing stops that are activated to specific account numbers will have to contact programmers to get them re-activated because it's a new account number now with a different broker. I wish there had been...
Without prior notice on rollover time closing all positions ? Looks like a criminal act in the dark planned to get them all off, before they could make a decent payout.
I would not believe it, if it is not confirmed here already. Unbelievable...that must be kind of emergency act to survive, otherwise I have no words for this...
  • #27,397
  • Dec 19, 2023 1:37am Dec 19, 2023 1:37am
Quoting TrAndy1
{quote} Without prior notice on rollover time closing all positions ? Looks like a criminal act in the dark planned to get them all off, before they could make a decent payout. I would not believe it, if it is not confirmed here already. Unbelievable...that must be kind of emergency act to survive, otherwise I have no words for this...
I think most of us expected this who seen similar schemes in businesses in life. That which screams the loudest falls the hardest. Promotions, discounts to left and right. Strong presence in social media doing anything it can to hype up itself. Unlike FTMO etc. For younger people maybe first time they see such a business model take place. Well take note.
  • #27,398
  • Dec 19, 2023 2:48am Dec 19, 2023 2:48am
Quoting AaronPriest
{quote} Yes, MFFX closed all trades without notice after market close DURING rollover this weekend at the highest spread for the biggest loss for people that were with Eightcap and switched them to ThinkMarkets with no email announcement, no Discord announcement, no prior notification at all! Those running EAs or indicators like risk managers and trailing stops that are activated to specific account numbers will have to contact programmers to get them re-activated because it's a new account number now with a different broker. I wish there had been...
I got this a couple of days prior
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  • #27,399
  • Dec 19, 2023 6:36am Dec 19, 2023 6:36am
Hi all,
The psychology of trading a prop firm account is so different to a normal trading account. Based on trying to reach a target and protecting a max DD. How are people creating a staking plan? For example are you risking a different % when the balance is break even, to when you are half way from either your DD or target? Or are you risking/staking a fixed % of balance each time? Or a fixed $ amount?
Trade Management:
When approaching the target, do you close trades earlier when in profit to inch closer to the target. Something which I didn't think would impact me until I experienced it. I'm now trying to nut this out in my trading plan, was interested to see what others did?
Do you close a trade once it makes a certain % profit?
Thoughts?
  • #27,400
  • Dec 19, 2023 7:30am Dec 19, 2023 7:30am
Quoting juri93
{quote} I got this a couple of days prior {image}
I never got an email notification. And I never got a second email with the new credentials (but you can get them from the back office anyway). Many, many people in their Discord didn't get any notifications either, nor did they make any social media announcements of it. I get their promo emails almost every week, I've searched my inbox and my junk folders. And I get their Discord notifications when all members are tagged every day too. This one caught many people completely off guard. I don't have a problem with switching brokers of course, I just wish there had been more than a half-hearted attempt to notify people beforehand.
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