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  • #27,901
  • Jan 8, 2024 4:14pm Jan 8, 2024 4:14pm
Objectively speaking, it should be strange for people to see things happening on the CFTC side that seem so personal. Such behavior is questionable and should make any theories involving conflicting interests and hidden agendas difficult for most to simply dismiss.

Perhaps they are so used to operating unchecked and without proper oversight and accountability, that they are not even phased or concerned by their own activity anymore. I guess that when you are so above the law, that you just do what you want.

It certainly makes you wonder about who is actually green-lighting this kind of activity (and for what purpose), or, at least it should.
  • #27,902
  • Jan 8, 2024 5:21pm Jan 8, 2024 5:21pm
Quoting Nsak3y
Objectively speaking, it should be strange for people to see things happening on the CFTC side that seem so personal. Such behavior is questionable and should make any theories involving conflicting interests and hidden agendas difficult for most to simply dismiss. Perhaps they are so used to operating unchecked and without proper oversight and accountability, that they are not even phased or concerned by their own activity anymore. I guess that when you are so above the law, that you just do what you want. It certainly makes you wonder about who...
The CFTC turned a blind eye to Sam Bankman-Fried until his criminal activity was so blatantly exposed that they had to do something. Just another corrupt government agency.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,903
  • Jan 8, 2024 5:55pm Jan 8, 2024 5:55pm
Paid $45 for an APEX 100K Tradovate challenge last Monday. Made the 6K profit target on one trade. Opened and closed a trade for the next 4 days and got an email today saying congrats I'm a funded stud muffin. Strange I thought it was supposed to be 7 days traded but apparently 5 is good enough. Anyway just paid my $105 activation fee, signed the thingy, and got my funded account within minutes.

And yet millennials and Gen Me kids always blabbering on about how easy the "boomers" had it working 60-80 hours a week punching that clock. The opportunities today are limitless for anyone with any work ethic or desire to succeed.

I threw a $45 dart at a board. Got a bullseye, Paid a trivial fee, and now a company is giving me 3K in drawdown to play with. Wow times are tough

AND, APEX was inclusive enough to accommodate my feelings and use my preferred pronouns: Sexy Expo
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PS. I blew up my last 100K Tradovate funded account in 48 hours
Pride always comes before destruction.... -Proverbs 16:18
  • #27,904
  • Jan 8, 2024 6:31pm Jan 8, 2024 6:31pm
Quoting CableJ
MFF vs CFTC case update... Several weeks ago, the court removed the temp receiver & the SRO freeze on personal + corporate assets other than 12m in current live trader payouts & fees. Immediately after the US court order. The Ontario regulator & courts decided to appoint their own temp receiver and asset freeze, so Kazmi & MFF still have been unable to access funds for living expenses, staff back pay & legal fees. MFF stated only a small fraction of their customers were in Canada and 30% were in the US. MFF asked the Ontario regulators for their...
when I shall get my money, fee refund and ofcourse my 200k funded account ?

Not clear.
Intraday only.
  • #27,905
  • Jan 8, 2024 7:39pm Jan 8, 2024 7:39pm
Another MFF Case update...

Having considered the matter, THE COURT FINDS that there is good cause to extend the deadlines set forth in the Parties’ Joint Proposed Rule 26(f) Discovery Plan by 45 days, with the exception that the Parties may send litigation subpoenas to third parties on or after February 5, 2024. Therefore, the Court GRANTS the parties’ joint request.

Having considered the matter, THE COURT FINDS that there is good cause to extend the time for Defendants to answer, move or otherwise respond to the complaint from January 22, 2024, to March 8, 2024, and to allow until April 5, 2024 for Plaintiff to file a response to any Rule 12 motion Defendants’ may file. This extension will allow related proceedings pending before the Superior Court of Justice (Ontario) to progress. Therefore, the Court GRANTS the parties’ joint request.

SMFH & lol @ these dates... more delays.
  • #27,906
  • Jan 8, 2024 8:22pm Jan 8, 2024 8:22pm
Quoting CableJ
Another MFF Case update... Having considered the matter, THE COURT FINDS that there is good cause to extend the deadlines set forth in the Parties’ Joint Proposed Rule 26(f) Discovery Plan by 45 days, with the exception that the Parties may send litigation subpoenas to third parties on or after February 5, 2024. Therefore, the Court GRANTS the parties’ joint request. Having considered the matter, THE COURT FINDS that there is good cause to extend the time for Defendants to answer, move or otherwise respond to the complaint from January 22, 2024,...
As expected this will drag out for a while.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,907
  • Jan 9, 2024 1:03am Jan 9, 2024 1:03am
Quoting Expo33
PS. I blew up my last 100K Tradovate funded account in 48 hours
Ohhhhhhhhhhhh, I was already dreaming for your photos in a lambo with your apex payout.

So, as far as I see everything is automatic and fast with these guys ? Not that BS of checking the trades, bla bla bla before funded credentials.
How's the KYC process ? Did you have to provide ID copies and address proof ?
  • #27,908
  • Jan 9, 2024 5:02am Jan 9, 2024 5:02am
Quoting Expo33
The CFTC turned a blind eye to Sam Bankman-Fried until his criminal activity was so blatantly exposed that they had to do something. Just another corrupt government agency.
-It would be interesting to know who was notified prior to that take-down.
  • #27,909
  • Jan 9, 2024 5:59am Jan 9, 2024 5:59am
Quoting Expo33
{quote} As expected this will drag out for a while.

Yes, bound to. As long as there’s any possibility of a settlement out of court, the court case can’t start. This latest delay was at the request of both sides - no court’s ever going to say no to that.


Quoting Nsak3y
maybe we can remain hopeful that this case will help to bring some clarity to this space.

We can agree about that, too.
  • #27,910
  • Jan 9, 2024 8:11am Jan 9, 2024 8:11am
Quoting Expo33
PStrange I thought it was supposed to be 7 days traded but apparently 5 is good enough.
They started another 1 day yolo pass promotion so anyone currently in process will also benefit. What luck eh?
Trade with confidence, trade without fear.
  • #27,911
  • Edited 9:12am Jan 9, 2024 8:28am | Edited 9:12am
Quoting Cryptosurf
{quote} They started another 1 day yolo pass promotion so anyone currently in process will also benefit. What luck eh?
You can make 6% in one day and pass but, hey, we don't want gamblers !

If we look into profit / max DD we need to make 120% in one day (and I'm forgetting the trailing DD, which would make things even worse).

This prop industry is a complete circus, eheheh
  • #27,912
  • Jan 9, 2024 8:42am Jan 9, 2024 8:42am
My funded futures static account. Looks good. No activation fee currently 150$.
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  • #27,913
  • Jan 9, 2024 8:44am Jan 9, 2024 8:44am
Quoting Capablanca
{quote} You can make 6% in one day and pass but, hey, we don't want gamblers ! If we look into profit / max DD we need to make 120% in one day (and I'm forgetting the trailing DD, wich would make thinks even worse). This prop industry is a complete circus, eheheh

Apex found the cash cow that is the degen fx migrants.
Trade with confidence, trade without fear.
  • #27,914
  • Jan 9, 2024 9:10am Jan 9, 2024 9:10am
Quoting Cryptosurf
{quote} Apex found the cash cow that is the degen fx migrants.
lol.. I am one of the fx migrants.. never traded futures before.. first time,, it seems fun,,
this morning trades.. i dont even know how to calculate P & L .. I just blindly traded it
Since Topstep has a consistency rule, I have to stop trading for the day..

Cryptosurf, question for you : it is easier to make money in futures prop trading vs FX prop ?
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  • #27,915
  • Jan 9, 2024 9:14am Jan 9, 2024 9:14am
you came out good
  • #27,916
  • Jan 9, 2024 9:20am Jan 9, 2024 9:20am
Quoting Boulder
{quote} lol.. I am one of the fx migrants.. never traded futures before.. first time,, it seems fun,, this morning trades.. i dont even know how to calculate P & L .. I just blindly traded it Since Topstep has a consistency rule, I have to stop trading for the day.. {image}
AHAHAHAH, you made me laugh with the "blindly traded".

Main difference between fx props and futures is that index futures work in 0.25 ticks (and not in 0.01) and we need to use the micro S&P size (MES) which is $5 per point (so $1.25 per each 0.25 tick) or the emini S&P size (ES) which is 10x bigger so 50x per point (so $12.5 per 0.25 tick).

Emini Nasdaq (NQ) $20 per point (so 5 per 0.25 tick) and micro Nasdaq (MNQ) $2 per point (so 0.5 per 0.25 tick)

Same for everything else. Each instrument, oil, gold, wheat, pork, etc. has it's own specs. We need to check those in the exchange.
  • #27,917
  • Jan 9, 2024 9:32am Jan 9, 2024 9:32am
Quoting Capablanca
{quote} AHAHAHAH, you made me laugh with the "blindly traded". Main difference between fx props and futures is that index futures work in 0.25 ticks (and not in 0.01) and we need to use the micro S&P size (MES) which is $5 per point (so $1.25 per each 0.25 tick) or the emini S&P size (ES) which is 10x bigger so 50x per point (so $12.5 per 0.25 tick). Emini Nasdaq (NQ) $20 per point (so 5 per 0.25 tick) and micro Nasdaq (MNQ) $2 per point (so 0.5 per 0.25 tick) Same for everything else. Each instrument, oil, gold, wheat, pork, etc. has it's own specs....
Thank you Capablanca..
  • #27,918
  • Jan 9, 2024 9:44am Jan 9, 2024 9:44am
Quoting Boulder
{quote} Cryptosurf, question for you : it is easier to make money in futures prop trading vs FX prop ?
For indices most FX prop firms have too low leverage. Except for FTMO (and MFF) which have decent leverage and no commissions. It allows for some sloppy trades.

Futures have better executions imo however no allowance for slop as commissions will eat away at your P&L.
Trade with confidence, trade without fear.
  • #27,919
  • Jan 9, 2024 9:54am Jan 9, 2024 9:54am
Quoting Cryptosurf
{quote} For indices most FX prop firms have too low leverage. Except for FTMO (and MFF) which have decent leverage and no commissions. It allows for some sloppy trades. Futures have better executions imo however no allowance for slop as commissions will eat away at your P&L.
And the trailing stop is a complete different animal
  • #27,920
  • Jan 9, 2024 10:06am Jan 9, 2024 10:06am
Quoting Capablanca
{quote} And the trailing stop is a complete different animal
I guess the competition will eventually force futures props to use static drawdown.
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