The last days of MF Global - Traders Hideout | futures io social day trading
futures io futures trading


The last days of MF Global
Updated: Views / Replies:575 / 1
Created: by liquidcci Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

The last days of MF Global

  #1 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Master
Platform: ninjatrader, r-trader
Favorite Futures: CL, NG, TF, NQ, YM, GC, ES
 
liquidcci's Avatar
 
Posts: 862 since Jun 2011
Thanks: 609 given, 1,051 received

The last days of MF Global

This a deep look into what led up to MF global meltdown for anyone interested

Below is an interesting excerpt

"MF Global had barely survived a rogue-trading disaster just seven months after going public. Brent Dooley, a 40-year-old registered broker affiliated with MF Global's Memphis office, had spent the night of February 26, 2008, trading wheat futures at home on his laptop computer after finishing dinner with his family. Dooley, who placed his trades through the firm's OrderExpress system, had declared bankruptcy six years earlier and had a negative balance of $3,004 in his personal firm account. Yet for some reason, no one—and nothing—at MF Global stopped him.

By 6:10 a.m. the next day, according to government filings, Dooley had executed 16,428 short contracts for May delivery of wheat futures; he was betting that the price would fall. But as Dooley, in a thin overnight market, tried to buy futures to close out this massive position—three times the regulatory limit—the price soared instead. By the time the firm finally stepped in, terminated Dooley's account, and liquidated his positions, he had racked up a loss of $141,020,850—which MF Global would have to pay. (Federal prosecutors in Chicago charged Dooley with fraud. Dooley, who has pled not guilty, has yet to go to trial.)"

The last days of MF Global - The Term Sheet: Fortune's deals blog Term Sheet

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."

Last edited by liquidcci; June 9th, 2012 at 01:34 PM.
Reply With Quote
The following user says Thank You to liquidcci for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.


Reply



futures io > > > The last days of MF Global

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
MF Global situation GaryD Reviews of Brokers and Data Feeds 100 July 1st, 2015 04:59 AM
Anyone experienced the MF Global saga? muscleman Traders Hideout 4 June 4th, 2012 01:39 PM
MF Global customers may see more payback kbit News and Current Events 0 March 15th, 2012 08:50 PM
Regulators know where MF Global funds went kbit News and Current Events 0 December 15th, 2011 09:38 AM
Was There a Madoff Inside of MF Global? kbit News and Current Events 0 December 13th, 2011 07:13 PM


All times are GMT -4. The time now is 12:57 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-11 in 0.08 seconds with 19 queries on phoenix via your IP 107.20.115.174