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06-03-2008, 04:00 PM
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The Caveman Forex Challenge
My recent post questioning the validity of Caveman forex’s signals stirred up a chest thumping response from the Cro-Magnon community and like the cavemen from those Geico commercials they are up in arms over the stereotypes the Savior heaped upon them.
Therefore, the Savior has agreed to give the Cavemen a chance to defend their honor. I hereby am announcing “The Caveman Forex Challenge.” Every Wednesday between 8-9pm Eastern Standard Time Caveman Forex posts a free trade off their signals: http://www.cavemanforex.com/Wednesda...orexPicks.html The Savior will be placing these trades on his own Hotspot demo account to test the validity of the signals and the Savior will report the outcome of the trade the following day. The Savior will do this for several months (let’s say three) and then officially give Caveman Forex either the Thumbs UP or Thumbs Down sign. Alright you homo erecti, the whole trading community is watching you now. I’m giving you guys more publicity than you have ever had before so this is your big chance or else it’s back to caveman’s crib for you! YouTube - Caveman's Crib 
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06-03-2008, 05:11 PM
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Agreed… a level playing field is all we ask.
Quote:
Agreed… a level playing field is all we ask. We can either do it with Wednesdays over the next 3 months or every day for the next 3 weeks. It’s all the same… your choice. You had us scratching our collective uni-brows with your delayed response so with the interest of putting this to bed in a timely manner, we sent the last two trading days signals “prior to the market” to Sweet Pip. We felt her post #262 on 5/30/08 indicated to us and everyone watching that she was a person with integrity who does the proper due diligence and was certainly on the skeptical side. The last 2 days results can be seen at Password Protected Page Now for those of you reading this, who think this is a contradiction regarding our feelings on posting past results, re-read the above paragraph. The 2 emails Sweet Pip received from us with the past 2 days signals are time stamped and were sent, we repeat “prior to the market”. I’m sure she will post them for verification if needed. The above link is password protected. The password is “truth”. Mr. Savior, if you choose to go Daily vs. Wednesdays, than this will be for your eyes only and the password will be changed as soon as you let us know where to email you the new one. The signals for the following day will be posted there by 9:00 PM Eastern. We thank you in advance for informing all who are watching on your various forex travels. Btw … re: cavemancrib… those guys are just actors... real cavemen were Birkenstocks. Sincerely, Cavemanforex.com
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06-05-2008, 05:09 PM
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Man in the Mirror
There has been a lot of pissing and moaning about the new law requiring forex dealers to have $20 million in adjusted net capital to stay in business.
Yet very few of the firms now affected by the law seem to have done much to stop it or modify it. At some point you have got to take responsibility for your own business. Everyone in the industry knew about this law. Yet where were the company press releases? Where was the organized lobbying? As Bob Dole once said "where's the outrage?!" No. Instead you could hear the crickets chirping in the forex industry. Everyone acted as if nothing was going on. The response from smaller brokers seemed to be "maybe if we're real quiet they'll leave us alone." If Washington only hears the NFA's side of the story well then that is who they are going to believe. If you want to blame someone for the passage of this law, blame the Forex Dealer in the mirror. "Forex Dealer In The Mirror" I'm Gonna Make A Change For Once In My Life It's Gonna Feel Real Good Gonna Make A Difference Gonna Make It Right . . . As I, Turn Up The Collar On My Favourite Winter Coat This Wind Is Blowin' My Mind I See These Forex Dealers In The Street With Not Enough To Capital to Meet Who Am I, To Be Blind? Pretending Not To See Their Needs A Summer's Disregard An unregulated IB shop And A One Money Manager’s Soul They Follow Each Other On The Wind Ya' Know 'Cause They Got Nowhere To Go That's Why I Want You To Know I'm Starting With The Forex Dealer In The Mirror I'm Asking Him To Change His Ways And No Message Could Have Been Any Clearer If You Wanna Make The Forex World A More Competitive Place Take A Look At Yourself And Then Make A Change (Na Na Na, Na Na Na, Na Na, Na Nah) Forex Dealers Been A Victim Of A Selfish Kind of Love It's Time That They Realize That There Are Some with No Adjusted Net Capital Not A Nickel To Loan Could It Be Really Me, Pretending That They're Not Alone? A Willow Deeply Scarred, Some trader's Broken Heart And A Washed-Out Dream They Follow The Pattern Of The Charts, Ya' See Cause They Got No Place To Be That's Why I'm Starting With Me!
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06-05-2008, 05:40 PM
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Sing it, MJ!
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06-06-2008, 08:58 PM
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Quote:
Financial Data for FCMs
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06-11-2008, 03:13 PM
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Caveman Forex Challenge: Week One
Week one of the Caveman Forex Challenge is in the books. Our friendly neighborhood Neanderthals gave out 12 free trades last Wednesday. It was not one of Caveman’s better weeks according to their own grid which shows them losing -5 pips overall on all their trades. However, due to risk/reward ratios and a slightly different price feed that resulted in the Savior making money on a trade the Cavemen lost on we made a $348.39 profit overall in our demo account as four trades went in our direction and four trades went in the other direction.
Tonight a new batch of trades will be published. You can find them here if you wish to play along: Wednesday's Free Forex Picks CFTC Update: I have not heard anything yet about the new forex dealer rules. However, CFTC should be releasing their net capital report this week. Stay Tuned.
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06-11-2008, 05:52 PM
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Correction: Varengold and Finex
Last year Finex was investigated by the SFBC in Switzerland, however, they were not closed for fraud as was indicated in a post titled “The Dead Pool Graveyard.” It appears that Finex was bought out by Varengold FX thus bringing the investigation to a close. Details of the merger can be found here:
http://download.varengold.com/vareng...s_customer.pdf The Savior regrets the error.
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06-12-2008, 01:45 PM
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CFTC Net Capital Report Update
The new net capital numbers are out. These numbers are more important than ever due to the new law requiring all forex dealers have $10 million in adjusted net capital by the end of September and $20 million by May 2009. Here is the link to access the report:
http://www.cftc.gov/stellent/groups/...cmdata0408.pdf The following firms have net capital below $10 million Advanced Markets $5,041,000 Bacera $5,370,000 MG Financial $5,886,000 CMC $7,089,000 Forex Club $7,562,000 Easy Forex $7,741,000 Hotspot $7,783,000 Friedberg Mercantile $8,053,000 MB Trading $8,381,000 Ikon $9,418,000 In particular you will notice that three firms are far below the upcoming increase to $10 million. Advanced Markets, Bacera and Money Garden. In fact, they are struggling just to meet the current $5 million net capital requirement with Advanced Markets a scant $41,000 above the current law! That kind of capitalization does not inspire much confidence and traders really need to beware doing business with them. The following firms have net capital below $20 million GFS Forex $11,376,000 Alpari $11, 766,000 IFX $12,362,000 ODL $12,995,000 CMS Forex $14,085,000 I Trade FX $16,054,000 FX Solutions $17,628,000 PFG $19,369,000 The following firms have net capital above $20 million Interbank FX $21,367,000 GFT Forex $64,288,000 Gain Capital $66,314,000 FXCM $73,603,000 Rosenthal Collins $76,571,000 Oanda $163,136,000 As always conduct your due diligence and make sure the firm you are trading with will be able to comply with the new law.
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06-13-2008, 02:59 PM
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The Gray School of Irish Dance
The receiver for FXLQ released their latest report to the court and it is chock full of eye popping revelations. http://www.robbevans.com/pdf/forexlqreport02.pdf
Revelation Number 1) the Estate is short two million dollars. Revelation Number 2) the receiver was able to further confirm that FXLQ had used a fake bond to prop up their adjusted net capital. Revelation Number 3) FXLQ had been violating their adjusted net capital requirement as early as October of 2006. Revelation Number 4) FXLQ paid over a quarter million dollars out to the Gray School of Irish Dance. WTF? Quote:
Hey I love Riverdance as much as the next Irishman but you’d think you would make sure your books are in order before cutting cheques to the tippy toe jumping set. The good news for customers is that the receiver is recommending customers being fully reimbursed before other creditors. This apparently includes Interbank FX who is owed a whopping $10 million. Judging from IBFX’s plummeting net capital (almost below $20 million) they sure could use the dough. Expect the FXLQ saga to last through the summer as the receiver continues to dig through mounds and mounds of paperwork, unexplained expenses and dodgy offshore bank accounts…
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