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According to the Milken Institute, the US and Switzerland have the smallest underground economies at 7.1 and 7.9% of GDP. The Milken Institute roughly estimates the size of the EU underground economy to be $3 Trillion per year. Which sounds insane. And it's pretty much all about VAT...

It's all about the shadow economy. The EU has a very large shadow economy due to VAT and the US is on the low side.

Thanks for wasting my time. Good luck with everything.

This is another real proprietary trading group: http://www.transmarketgroup.com/ Again, there are no fees for seminars or education or training or whatever. There is no "trader combine" or other such nonsense bullshit. You will get paid on a W-2, you are an actual employee, and there are...

Yeah these three are not CME Rule 106.R. Electronic Corporate Members as far as I know. Any firm that takes funds for any reason from the trader - whether they call it education or seminars or training or whatever, is not a CME registered firm. If any prop firm asks for money for any reason...

My take is that the global credit rating agencies (in this case, DBRS) are still whores selling ratings for fees.

The May Crude Oil Futures Contract on April 20th was EPIC.

Four years and one month ago, we saw limit down overnight. Several hours later that move had been erased and the market closed sharply higher. So a 1.5% move isn’t “Epic” in the literal sense of the word. But thanks for the thread!

I’m not going to speak for anyone else. I can only speak for my own experiences as a trader and working with other traders. And I definitely won’t vouch for other trading mentors and trader funding gimmicks because most are just thieves.

It’s not you - it’s definitely ME. Manually scalping is like opening a restaurant - your odds are about 10 percent. In the Pits, you had about a half second time advantage to pick off paper and that was worthwhile. In the very early days of electronic trading, you had a slight inter market...

Are you seriously looking for a legit free edge on a public Internet forum? My PM Inbox and my email is full of messages from unfortunate souls who tried manual scalping (day trading). I’ve got a mountain of stories about newbies getting smoked Scalping in these modern Bot dominated markets...

Being “Liberal” is just as vacuous and narcissistic as a vanity license plate.

And the Chairman of JPM will be the Treasury Chief in the Biden administration. It’s hilarious to think that gullible people think there’s a difference between Republicans and Democrats. Same feeding trough and power players.

If you can program, can exploit time series data, and have an exceptional ECN then go for it. If you’ve got a mouse in your hand and you’re new then good luck with that.

No, that’s not the case. Two other big banks have been fined, and part of the deferred prosecution plea agreement is if they do it again they’ll be suspended from the CME. Which would be a disaster for not only JPM prop trading, but for all of their brokerage customers. And their prime...

I’m assuming you’re being sarcastic.

If you are indeed in this spread as a relative value bet, COST being overvalued isn’t the question (that’s true for quite a few names, tbh) - the question is: can WMT appreciate in price compared to COST? And since 2004, with the exception of 2017 - COST has gained value versus WMT...

Since the 2010 “flash crash” the CME has been fairly relentless about spoofing. Individuals, Prop Firms, and Big Banks have all gotten popped. Which is good, because Bot games definitely undermine the integrity of the market.

Position management is the least discussed but most important aspect of a trading system IMO. It will make you or it will break you.

Sure they do - US Tech Companies. Look at the S&P 500 versus NASDAQ.