Auto-generated transcript below — expect the occasional typo and a lot of trader slang.
Transcript
on the screens, yeah. Yeah, we’re going for a little walk. — Bro, I like what they’re doing over at Lucid, by the way. — Yeah, cracking down on fraud, that’s always a good thing. If you want the firm to If you want the firm to still be around. — Yeah, people are bitching about it. — You know why? Cuz they got to take an extra step and and do the authenticator thing?
— I know. — themselves? — Stupid. It’s like, dude, just do it. Who cares? Yo, people are like, yo, if you went to get a job somewhere or you’re going to provide a service to get paid, they’re going to want to know who you are. So, what’s the difference? — Yeah. — This Yeah, exactly. Yeah. — want to stay under the radar, I get it. But at the same time, like you
know, these guys are going to send you money. So, just tell them Tell them who you are. It’s not that big of a deal. — I know. — You don’t think that You don’t think whatever government you’re on Whatever government’s jurisdiction you’re under they’re not going to know? They’re going to know. — know. Bro, they There it is. — Well, they knew as soon as you hit that trade, they knew. —
Bro. They They know. They know what you They know what was in your in your in your feces. — What up, Shawn? Yeah, no, it’s true though. Like, I’m glad Lucid’s cutting down on it. I mean, listen. KYC Do the thing where you view yourself on the thing. What up, BK? — Dude, I went into the garage to get my creamer and I left it in
the laundry room. But yeah. Exactly. And were Were they the ones that Were they the ones cuz I saw a screenshot and I didn’t I I was just scrolling through through uh my Discord. Someone posted something and it said something about like hedging. — Hey, Chris. — It said something about — they Well, no, no, Trade Tradeify was talking about hedging. — Oh, like a group There’s like a group out there
that’s — No, well, they were talking about how they loosely enforced it and now they’re going to like really enforce it. — Yeah. — But Lucid’s also been talking about all these people that are hedging and I mean, people are doing it. I’ve done the math. — Oh, yeah. — Like I’m [clears throat] not going to get into who, but you know, I know there’s people out there — Ryan Stonk and
and the hedgy? — Well, no, other people. — Like — All a bunch of nice guys. Um you know, they’re hedging. They stream and then they show you gains that they made earlier today while they were hedging. And uh or you know, hedging with other people and things like that. And then they’re you know, they’re up they’re going to get cooked. — Yeah, eventually. And I think that’s part of I feel
like Trade of Eight Prop — Trade of Eight Prop is going to kill it all because it has all the data. — they did they they made that. Cuz they’re going to be able to share the data. — We were talking about — I talked about this before, but that’s — Yeah, yeah, yeah, yeah. Yeah, I I listen. — That’s where we’re headed, and I’m fine with that. — If you can’t
KYC I mean you know it’s What’s it I mean, you’d have to KYC at a job. — Sometimes you need a little bit of KY, you know? — Yeah, I mean, let the guy freaking get it going. — Hey. — All right, yo. But seriously, man, like — Yeah. — I it makes like dude It literally takes 1 minute to do it. — Well, look, here’s what here’s what they said. Look,
we have seen a a recent uptick in coordinated bad actors, payment fraud, false identities, group hedging, and more. Our detection improves every month. But the hard part has always been enforcing at scale without catching legitimate traders in the act. — Yeah. No, I believe it. — has been The balance has been our priority throughout. That balance. All like They want to do They want to They want to enforce at scale, but
they don’t want to they don’t want to a legitimate trader to get you know pegged for the same reason or flagged even though they weren’t. — Listen, I’m sure if you’re a legitimate trader, you reach out and you make a video that’s you talking and you’re saying, “Hey man, this is my strategy. I’m not doing this, whatever.” They’re going to allow they’re going to allow you back on. —
You got to start paying. — People Yo, people don’t know how to talk. They’re like they’ll get blocked and then they’ll go on X and talk a bunch of and it’s like, “Bro, you wouldn’t do that in real life. So, just make a video and explain to the guy that you’re real and this is your strategy and you’ll get back on.” — Yeah. Watch me Watch me trade, guys.
— It’s so crazy. — But, yeah. I mean I’m glad that this — because — you know, we got to get rid of the people that are making it hard. — I agree. — Making it harder for everybody. — We got to definitely have to get rid of the people that are scamming the system. And that’s it. I mean, that’s what they’re trying to do. They’re trying to filter out the scammers
and the schemers and everybody else. And listen, there’s a ton of people. And the pro crazy part is it’s not only — [snorts] — these people from random countries, some of it is streamers that you don’t even know — with channels and a following and people think they’re great great at trading. — Correct. — They only show you what they want you to see. — Bro, it’s wild. Wild
wild. — There’s a lot of them. You know? — Oh, I agree, Crystal. I I agree. They I mean if you got a job, you’d have to — ruining it for everyone else. — Yeah. I mean listen. — And that could have been why like, you know, there’s some platforms that uh — that went under? — sustain it, they go under and it’s because of it’s a lot of times it’s because
of stuff like this. Especially like the coordinated trading. — Yeah, especially when it also what makes it harder is in the beginning the rules, because they want traders to come there, the rules are super easy to get payouts that when they coordinate this it’s easy on them because there’s so much less rules because the prop firm just wants people to trade there and they fully take advantage of it.
— They get clean They get rinsed. — Yeah, and then, you know, 1,000%. — And And then, you know, and then they start changing rules and they have to do this and that and make it harder for you to get out or make it harder. — get mad. — Yeah, and everybody starts crying about it, but it’s not They’re doing it because they got Most of
the time. — Correct. 1,000%. 1,000%. You know,
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