This is directly from the bottom of the NFA website:
NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the futures markets.
Based on how they describe themselves, is it just me, or do they sound
just like a market version of the BBB?
The reason I’m asking is because if they have only “perceived authority”,
why can’t the member brokers tell them that they will not honor the
no hedging and the FIFO rules?
The BBB can’t make their members abide by rules that have an effect on the
Yeah, I’m just a little pissed off about the NFA telling me how to trade with
my own money.
I even sent them a letter…
Just wanted to stop by and say thank you.
The NFA has raised the bar.
Never in my life have I been so blatantly SCREWED
by any single organization.
As a Forex hobbyist, I used to enjoy it,
knowing that hedging was a way to REDUCE the amount
I’d have to eat if a trade started to go the opposite direction.
Kind of like the difference between eating just a plate of food
versus having to eat the entire damn buffet.
It didn’t bother me one bit that my broker was getting paid twice.
I saw that as just part of the game.
Now we’re about to experience screwing-the-trader #2.
First in, first out.
What the hell kind of dumb-ass rule is that?
I’m currently interviewing brokers who are not part of
the NFA and all the conversations are the same.
In fact, all the conversations they have with other traders
are all the same.
Nobody has any idea why the NFA has made these two rules.
Oh sure, we’ve seen the official reasons as stated by the NFA,
but we don’t know what prompted the endeavor to make the rules
in the first place.
Good job on screwing not only the traders, but the US economy as well.
Look at all the money that’s being sent to brokers OUTSIDE the US.
UK brokers are dancing in the streets.
They’re welcoming us with open arms…
Ok, I’m done venting.
Anyone else have any thoughts on the subject.
And why isn’t the “bold” button working…?