👀 An Inside Look at Prop Firm Cheating Services

Hi guys, it’s Kieran! Another week is in the books, so it’s time to get strapped in for another one. Let’s get straight to it!

📢 Prop Firm Industry News

Prop Firm Journal posted a very interesting interview with James Glyde, CEO of Pipfarm, speaking in depth about how he and his team infiltrated prop firm group-trading cheating services. He actually cheated against his own firm, and figured out a way to eventually combat them. What a story!

James is doing great work in this space and the industry is becoming more stable and sustainable thanks to him. A very worthwhile listen.

Last week lots of new firms were added to Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

Monitor prop firm payouts LIVE on Payout Junction - https://payoutjunction.com.

🕜 Economic calendar

Here are this week’s red folder news events. A packed calendar this week. US Retail Sales later today, the Fed on Wednesday, and US unemployment on Thursday are the key events to watch out for.

📈 The Macro View

Extreme Fear....still

Another red week in the equity markets and we are very much still in a correction phase. Despite Friday’s equity rally, overall market sentiment remains in ‘extreme fear’ territory. No major sentiment shift yet.

However, the selling has finally started

"We are finally seeing traders giving up their longs and stops being hit. We are nowhere near capitulation levels of selling yet though, so the market can still apply significantly more pain before we bottom out. S&P500 futures are currently red, so longs are already starting out the week under pressure.

How does this correction compare?

S&P500 is currently 10% down from it’s highs, which is very much in-line with what we would expect once per year. Most corrections do not exceed 10%, one third go to 20%, one in ten ends with a full on -20% bear market.

The Super Rich are buying the dip

BofA private clients (the ultra-rich basically) bought the dip on-mass last week. The 3rd largest weekly inflow to equities ever from this cohort! I like this chart because if the S&P500 trades significantly lower, we can use it to see when these guys finally liquidate their longs, and that is probably when the bottom will be in 😁 

OK guys that’s it for this week. Stay safe out there and see ya next week!

Kieran

🔥 Monitor prop firm payouts LIVE on Payout Junction -https://payoutjunction.com.