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Trading rooms - regulations ?


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Trading rooms - regulations ?

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  #1 (permalink)
Philadelphia PA
 
 
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Are there any US regulations that prevent paid trading rooms from publishing actual trades in real time ?
I only mention this because the rooms that I have tried don't really show their actual trades. In other words, they don't show their position on the screen.

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  #3 (permalink)
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syswizard View Post
Are there any US regulations that prevent paid trading rooms from publishing actual trades in real time ?
I only mention this because the rooms that I have tried don't really show their actual trades. In other words, they don't show their position on the screen.

Nope, nothing that would prevent showing past performance or live trades.

The only regulation would be NFA wanting you to be able to prove what you are saying, if you are a member. Then standard CFTC regulation that prohibits you from making future or unsubstantiated claims. Whether you do it in sim or cash makes no difference in the law, only in how you represent it.

This is all to the best of my knowledge. I am thinking perhaps @FuturesTrader71 knows more in this area from that side of the business.

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  #4 (permalink)
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Big Mike View Post
Nope, nothing that would prevent showing past performance or live trades.

The only regulation would be NFA wanting you to be able to prove what you are saying, if you are a member. Then standard CFTC regulation that prohibits you from making future claims. Whether you do it in sim or cash makes no difference in the law, only in how you represent it.

This is all to the best of my knowledge. I am thinking perhaps @FuturesTrader71 knows more in this area from that side of the business.

Mike

Hey Mike,

Hope you are well.

You are spot on. There are no regulations against posting live trades or showing past performance. The requirement for NFA members (brokers, funds, clearing firms, pools, dealers) is that they cite all of the required risk disclosures including the risk of trading futures, the risk of using past performance and the risk of hypothetical results. In either case, they all have to be able to substantiate their claims on demand.

CFTC rules apply to everyone and they also don't prohibit the posting of live trades or results. Many educators and gurus have posted supposed live results that turned out to be false and had to face federal prosecutors. Everyone must simply post the truth.

This is a tricky subject in that we always have to ask ourselves "why" someone is posting live results. What is the benefit to them? Are these results complete or are they cherry-picked (only posting winners and not losers)? Are the live results posted from one account while the poster is hedging with another live account? Things like that.

TLDR: No, there are no regulations against posting live results except that they must be truthful and complete

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  #5 (permalink)
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FuturesTrader71 View Post
Hey Mike,
This is a tricky subject in that we always have to ask ourselves "why" someone is posting live results. What is the benefit to them? Are these results complete or are they cherry-picked (only posting winners and not losers)? Are the live results posted from one account while the poster is hedging with another live account? Things like that.

Thanks FuturesTrader71. The "why" for trading rooms is to show they have a decent methodology....successful enough to attract potential subscribers.

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  #6 (permalink)
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syswizard View Post
Thanks FuturesTrader71. The "why" for trading rooms is to show they have a decent methodology....successful enough to attract potential subscribers.

Frankly, I don't see value in that. I would see more value in how the followers do. I know so many guys who can make money trading but horrible at teaching. Making money is not the same as backing someone else to make money.

But I get your point. At least it provides "something" as a measuring point.

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  #7 (permalink)
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Just retired from 30 years in the industry. I believe the only thing holding them back is bad trades. There are no "after trade" reporting restrictions or making info public. Prior to trade could be looked at as "herding" people into a trade for price manipulation but they can post any info after the trade as long as it's accurate and factual.

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If they were good and honest trades publishing them would be the best marketing/advertising they could do.

So judge by the fact that they do not, most likely they were not good trades and in some cases no trades at all.

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  #9 (permalink)
hillsborough nj
 
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Probably the same reason nobody shows their trades on here.

They are so fantastically good that ordinary intellects would disintegrate upon seeing them.

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  #10 (permalink)
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Because they are a scam, stay away from them

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