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No more free NinjaTrader? Thanks CFTC

  • Post #1
  • Quote
  • First Post: Oct 10, 2010 2:22am Oct 10, 2010 2:22am
Since Go Markets has to close my US account thanks to the CFTC, I logged onto my NinjaTrader account to begin updating my workspaces and templates there. It seems we got another slug in the gut prompted by the new CFTC rules:

http://www.ninjatrader-support2.com/...nouncement.php
Frig'n Frank/Dodd bastards! This thing is getting uglier every week.

We really need to trow out every member of congress and the senate. Both Dems/Repubs have throughly screwed up everything they ever touched.
Wow, I didn't expect the new rules to have this much of an impact other than leverage. I guess the devil's in the details. Can't wait to see what else they come up with
but why?

we understand the leverage point, so why this?

For Ninja Trader:

I guess GAIN traders will have to pay to use Ninja Trader for Live trading like the rest of the traders for other brokers. Ninja Trader is never free for live trading anyway. I just hope this will not impact Ninja Trader's business; I would hate to see Ninja Trader go down.

As for CFTC rules:

I hate to say this but somehow I saw it coming. I knew this will slowly choke out the Retail Forex industry because high leverage is one of the key factor that makes Retail Forex industry successful in the first place. You take that away but does not give it any additional support, of course Retail Forex will suffer. It's not surprising as CFTC which is really funded by Exchange-based industries really has no incentive to see an OTC industry such as Retail Forex to be successful and to be potentially in competition of the Exchange-based industries.
Make your losses in demo. Earn your profits live.
now I see why there have been 15 democratic US Presidents only (from 43 I guess)

smart voters ..
Quoting Forexia
For Ninja Trader:

I guess GAIN traders will have to pay to use Ninja Trader for Live trading like the rest of the traders for other brokers.
Actually Ninja trader was free for live Gain accounts. Gain, in turn paid Ninja for transactional volume.

Ninjatrader was also available in demo for free with a Gain feed (also for free). Many folks used the demo for charting, then placed trades on another platform, like Oanda. And they devised manual methods and indicators for Ninja. Same as a lot people do with MT4.

Will that be next--paying for an MT4 demo? Or to use MT platform live?
Quoting billflet
Actually Ninja trader was free for live Gain accounts. Gain, in turn paid Ninja for transactional volume.

I know. Wish my broker is as generous as Gain was. Not sure if same thing would happen to MT4 being that MT4 was never free.
Make your losses in demo. Earn your profits live.
Quoting Forexia
As for CFTC rules:

I hate to say this but somehow I saw it coming. I knew this will slowly choke out the Retail Forex industry because high leverage is one of the key factor that makes Retail Forex industry successful in the first place. You take that away but does not give it any additional support, of course Retail Forex will suffer. It's not surprising as CFTC which is really funded by Exchange-based industries really has no incentive to see an OTC industry such as Retail Forex to be successful and to be potentially in competition of the Exchange-based...
I knew they'd find a way to kill it for years too. My only regret was not focusing on this full time years ago when I started so I could be on my own Island right now. Away from beneviolent dictators.
Man, this CFTC thing is horrible... Why do they do this? These policies will be a problem for US trading industry. I am in Brazil, but I was going for an MBT account and now with the new 50:1 rule, I am seriously reconsidering it.

It's not like I will blow my account on a large trade, but it's good to have a larger margin sometimes for multiple trades.... What is wrong with that.

People who lose money are on their risk, there is always the disclaimer of risk everywhere, and this is not the real reason...

Will there be a day when Forex trading as we know will disappear? I hope not man, seriously.... At least there are some european brokers that are pretty good too.
Quoting Scalpaholic
Man, this CFTC thing is horrible... Why do they do this? These policies will be a problem for US trading industry. I am in Brazil, but I was going for an MBT account and now with the new 50:1 rule, I am seriously reconsidering it.

It's not like I will blow my account on a large trade, but it's good to have a larger margin sometimes for multiple trades.... What is wrong with that.

People who lose money are on their risk, there is always the disclaimer of risk everywhere, and this is not the real reason...

Will there be a day when Forex trading...
Well like all bad policies, it only takes time to get those idiots in office to realize the full impact then they will scramble to make excuses, blame someone/something else and then only if they are smart enough to see the real reason, they will try to make amends to turn things around but by that time, damage will be done and it will take years and years for the amends to take effect.

Oh well, we only have 40 productive years to live anyway...
Make your losses in demo. Earn your profits live.
  • Post #12
  • Quote
  • Edited 10:21am Oct 13, 2010 10:20am | Edited 10:21am
This is just hard to swallow... And their excuse is even harder. I have read on many places, it's supposed to protect traders. This is such a lie. I am not affected by this, at all, at this moment... But will it spread to other places?

Man, do they even know what they are doing? The guys signing the laws in US congress of however it works... I bet they don't even know what they are doing, and it's impact.

Who is lobbying for this in the first place?

I have checked out NinjaTrader some time ago. They looked good, I didn't try it but I know the traders who used it will probably now have some type of expense with this.

Most day today I have been looking into this. I hope this CFTC thing doesn't catch on. It's just bad. I can't see anything good in this, only traders who made profits and businesses like US brokers and NinjaTrader paying the bill.

Traders with no education and trying to trade the Martingale way will lose money the same way! It will just take a little longer. There is no justification to stand behind this.

Like a good member, Leche Mocha, quoted another member, called Dopey, on another post somewhere about this...

Quoting Leche Mocha
Another poster ironically named "Dopey" posted a profound quote that sums their sad situation up perfectly:


First they came for the Socialists, and I did not speak out --
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out --
Because I was not a Trade Unionist.

Then they came for the Jews, and I did not speak out --
Because I was not a Jew.

Then they came for me -- and there was no one left to speak for me.


by
[b][size=3]Martin Niemöller:...


Question is... What will be the straw that breaks the camel's back for the ones who don't care or think this is right? If this is just the beginning, they will eventually come, and we should all unite before it's too late.

This is all just so wrong. They can't force us to have day jobs.
  • Post #13
  • Quote
  • Last Post: Oct 20, 2010 2:04pm Oct 20, 2010 2:04pm
Wow...ok this is why I cannot connect to GAIN through NT today. Great...there goes my charting software. Stay calm...stay calm. I am becoming more and more angered by our government every week. If this trend continues...I'll save you guys the rant. AAARGH
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