Maverick74 and marketsurfer's TopstepTrader Combine (daily trade reports and journal)

if your argument is bulletproof he won't respond,so to answer for him, he disagrees,the reason tiger has fallen off the top of the heap is that he switched to TNA,smurffleupagus warned him and he would not listen

 

It was well known years ago, that the brokerage firms that held large number of accounts knew which population of accounts were known drawdowns. And which had consistent gains.

If you wanted a edge, all you had to do was fade the drawdown population, and bet with the winners. Most FX brokerage firms did just that. (taking the otherside of the trade).

 

You do know that was a myth don't you?

 

Now it's your turn to try the Combine. Precision scalping combined with the power of TA-- how could you lose? Enough of the anecdotes and claims. Either you can do it, or you can't. The combine is waiting.

 

it was not a myth,naturally you disagree,have to leave et for awhile, i find myself lowering my standards the more i post

 

Prove it. I don't expect a response.

 

Expecting triple digit returns while imposing such strict time limits is hardly objective. In fact i could argue that it's self defeating.

 

CFTC / NFA Enhance Regulation of Forex


In 2010, the US Commodity Future Trading Commission (CFTC) formally released a series of new regulations governing all retail foreign exchange dealers. Having given all applicable firms almost six months to bring their operations up to speed with the new regulations, the CFTC is now moving to bring enforcement actions against those that are still not in compliance.

Among other things, the regulations required all retail forex broker-dealers to register accordingly with the National Futures Association (NFA), and for firms that “solicit orders, exercise discretionary trading authority or operate pools with respect to retail forex” to register as introducing brokers. Out of curiosity, I scoured the NFA Background Affiliation Status Information Center (BASIC) to see if/how forex brokers have registered themselves.


As you can see from the table above, there are approximately [I would be grateful if you could inform me of any known omissions!] 28 registered forex firms, and the CFTC recommends that (US) retail forex traders that manage their own accounts should deal with these firms exclusively.

Unfortunately, many firms continue to advertise that themselves as forex brokers when they aren’t registered as such, or even worse, aren’t registered at all. As a result, the CFTC recently filed simultaneous enforcement actions against 14 forex firms, alleging that, “In all but two of the complaints…a defendant acted as an RFED; that is, it offered to take or took the opposite side of a customer’s forex transaction without being registered. In the remaining two complaints, ZtradeFX LLC and FXPRICE, the CFTC alleges that the defendant solicited customers to place forex trades at an RFED without being registered as an Introducing Broker.” The following companies stand accused:


To be a fair, NFA membership doesn’t necessarily imply compliance with NFA regulations, nor does it even guarantee upright behavior. In fact, the NFA is currently scrutinizing all of its member firms “for any signs they are designing computer systems to take advantage of what is known in the industry as ‘slippage,’ or small price movements that happen between the time a customer orders a trade and when that trade is actually executed.” In October, the NFA settled two such cases with **** FX and Gain Capital, assessing a combined $800,000 in fines. Let’s hope that this isn’t the real explanation for the fact that forex trading is vastly more profitable for brokerages than other types of retail securities trading.

While the NFA hasn’t indicated that this is the case, the current retail forex MO (whereby brokers also act as market-makers) could be under attack. As one advocate for traders told the WSJ, “If a foreign-exchange firm is acting as a market-maker, or taking the other side of a client’s trades, it is doubtful the investor is getting the best possible price.” The problem is at the moment, the industry remains far from transparent, and if not for the NFA investigations, traders probably wouldn’t be able to establish whether their broker(s) acted unscrupulously.

 

That is not what we are talking about. That's market making. What was implied was that "commodity brokers" were selectively fading customer accounts for profit, a useless endeavor btw since most losses are through either commissions or huge one off loses.

 

when you market make and don't offset your position in another market, you are effectively fading the customer. I know a person that coded a API to interlink with the brokerage platform. He coded a news trading quick in and out system.

He made 4-5 mil over the past 4 years. Some firms refused to give him his funds back, most complied since they didnt want to get investigated. Some closed shop and tied up funds in courts.