Yup, these regulatory firms are a friggin joke. SEC, CFTC, NFA. Some real stupid idiots inside those places.
I got as far as Metatrader 4. Nuff said. If you do get smart enuf to stay away from futures, you still need to be smart enuf to know what NOT to get involved with in FX.
A 0.05% reduction in futures market liquidity or something unnoticeable like that... Besides that... Nothing else.
when they go after your ass you would no longer consider them to be "real stupid idiots." truly wasteful remarks are those that call other people/ organizations derogatory names.
The owner may have been a crook but SFO wasn't such a bad magazine for general market related info. They had some decent interviews with leaders in the industries. That said, I got it for free and DEFINITELY wouldn't have paid for a subscription. His face plastered all over the magazine was irritating. Now knowing that PFGBest owned the magazine, I can see why.
While I was exaggerating for effect I believe most profitable day traders with a $500 margin requirement have little need to keep more $1,000 per ES contract in an account. It has nothing to do with what a big account is or what is a small account but rather, as you have pointed out, what is sufficient. Putting capital at risk makes sense as long as you do not risk more than you need to.
Is there anything in place since the MFglobal scam that will potentially make these retail traders whole at some point ??
The Fed's zero interest rate policy is not stimulating the economy, it is screwing savers, and it seems to be, at least in the case of MF Global, causing FCM's to take on new risks in order to generate revenue.