Prop Firm Hub | Page 25 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #481
  • Apr 19, 2021 3:58pm Apr 19, 2021 3:58pm
Quoting endgame99
{quote} FTMO is getting much competition with new prop firms using same model but better conditions. FTMO needs to come up with ways to keep inflow of new traders. I like when businesses use win-win solutions. For some reason FTMO is using win-lose solutions. Let me give you two examples. 1. max. daily loss at 5% - I like this rule BUT why use this as a reason to terminate Challenge/Verification and keep the fee? Would it be so hard from the technical point to setup a rule in MT4 Manager where after account is down 5% in a day the trading will be...
Some of these new prop firms have yet to prove viability and yet to show proof of anyone getting funded. Some are straight up sketchy af.

Successful trading isn’t based on easy rules. It’s based on patience and discipline.

Many who are flocking to other firms offerings, thinking they will be successful have yet to be successful on their own. No matter who they go with, they will not be successful.

FTMO’s rules are pretty liberal imo, and extremely easy to understand. If people are having a tough time with them, then chances are they will fail any other prop firm.

Too many are day dreaming about how much money they can make, not realizing they have yet to scratch a consistent profit on their own.
Trade with confidence, trade without fear.
  • #482
  • Edited 4:25pm Apr 19, 2021 4:14pm | Edited 4:25pm
Quoting endgame99
{quote} FTMO is getting much competition with new prop firms using same model but better conditions. FTMO needs to come up with ways to keep inflow of new traders. I like when businesses use win-win solutions. For some reason FTMO is using win-lose solutions. Let me give you two examples. 1. max. daily loss at 5% - I like this rule BUT why use this as a reason to terminate Challenge/Verification and keep the fee? Would it be so hard from the technical point to setup a rule in MT4 Manager where after account is down 5% in a day the trading will be...
Good point.

The thing is that it was a win-loss solution from the beginning.

When a trader has a funded account on a real prop-firm, the trader is under a win-win solution. The 5% DD escalates as the balance escalates. At least on steps.

Notice that you don't have a real funded account at FTMO and you don't know how many pseudo funded accounts they can really manage. Probably, they won't have generated those 5k you mention by trading and so, they need rules that avoid paying the "profit" generated.
Always ready to help
  • #483
  • Apr 19, 2021 5:08pm Apr 19, 2021 5:08pm
Quoting sampat
{quote} {image}
something is wrong with this because he already claims a bunch of withdrawals in bank. Something doesn't add up. Not that i really give a crap.

Funding Talent and FTMO are clearly paying for youtubers to do promos but to what extent i don't know. Well I know for funding talent because its so disgustingly obvious what and who they are paying and then they brigade the comment section of the videos because thats all they are. Glorified social media amateurs.
  • #484
  • Apr 19, 2021 6:42pm Apr 19, 2021 6:42pm
Quoting endgame99
{quote} FTMO is getting much competition with new prop firms using same model but better conditions. FTMO needs to come up with ways to keep inflow of new traders. I like when businesses use win-win solutions. For some reason FTMO is using win-lose solutions. Let me give you two examples. 1. max. daily loss at 5% - I like this rule BUT why use this as a reason to terminate Challenge/Verification and keep the fee? Would it be so hard from the technical point to setup a rule in MT4 Manager where after account is down 5% in a day the trading will be...
Just trade your own account.
  • #485
  • Apr 20, 2021 2:16am Apr 20, 2021 2:16am
Scalping strategy EA:
1. Software trading hours: between 04 and 08 Beijing time
2. Principle introduction: EA is a drawdown strategy in the Asian market. The software quantifies the price difference between inside and outside the market according to various indicators and different indicators, and the success rate is about 80%.
3. Fund management: Strict fund management on the internal parameters of the software without manual intervention
4. Funding requirements: the minimum can be traded $ 100
5. Support trading varieties:
USDCHF USDSGD EURCHF EURSGD
CHFJPY CADCHF AUDCHF AUDSGD GBPCHF
GBPSGD NZDCHF AUDCAD ERUAUD SGDJPY EURCAD
6. Broker requirements: ECN account number,
7. Real account number:
Account number: 70016152
Observation password: QQ486158787
Server: ICMarketsSC-Live06
Account number: 70016154
Observation password: QQ486158787
Server: ICMarketsSC-Live06
Account number: 1100054136
Observation password: QQ486158787
Server: ICMarketsSC-Live11
Account number: 80002123
Observation password: QQ486158787
Server: ICMarketsSC-Live07
8. Way of cooperation:
1. Foreign exchange account can be hosted (profit sharing 3/7)
2. Renting EA, one year fee: 3000 USD, 5 accounts authorized.
3. Contact information: [email protected]
4.Skype:Trading (Beijing, China)
  • #486
  • Apr 20, 2021 5:10am Apr 20, 2021 5:10am
Hey guys,

I am new to prop firm trading and in the middle of passing my first challenge and evaluation with FTMO.
So far I am very happy with the service they offer, they are fast and professional.
I have contacted support once for a sample of the contract funded traders get and they provided this, no problem and they are very fast and polite.

The rules set by FTMO are very simple and actually keep traders in check in my opinion.
I have definitely blown accounts or lost weeks/months of trading in the past, because of not sticking to simple rules/limits and over trade.

Maybe if you can't deal with the rules set by FTMO than you are not ready to trade at all and should go back to a demo account?
Unless you have a trading style/system that works long term outside of those rules?

I live in Belgium (Flanders) and it would be nice to be able to link up with more FTMO or other prop firm traders on here that are also located in Belgium or traders that know Belgium tax laws.
I have a lot of questions about this topic in particular.
The Belgium tax laws are not easy to interpret and there is a lot of room for errors in my opinion.

There are tax laws targeted towards investors and traders (full time and as a hobby)
But there is nothing about prop firm traders.
As far as I'm aware of, most tax laws in Belgium are targeted to people who trade their own capital.
As a prop firm trader you don't fall in that bracket and you technically bill the firm for your services as a trader.
So this is confusing.

Is there a specific tax thread on here? So far i have not found one. So let me know pls!

Have a nice day!
  • #487
  • Apr 20, 2021 5:56am Apr 20, 2021 5:56am
When testosterone runs high, people pounding on their chest to show off and belittling everyone else. Same people hide behind their mamma when facing adversity.

Being humble is part of winning mindset.
on a postive roll...
  • #488
  • Apr 21, 2021 1:34am Apr 21, 2021 1:34am
Has anyone here qualified or know of anyone qualifying on FTMO or 5% using an auto trading algorithm?
A well-defined set of rules in an EA should be able to manage the lower DD and ability to trade market 24x5 means no trade setup is missed.

Keen to see everyone's view on this.
Trading is SIMPLE not EASY.
  • #489
  • Apr 21, 2021 1:38am Apr 21, 2021 1:38am
Quoting garfield75
Has anyone here qualified or know of anyone qualifying on FTMO or 5% using an auto trading algorithm? A well-defined set of rules in an EA should be able to manage the lower DD and ability to trade market 24x5 means no trade setup is missed. Keen to see everyone's view on this.
Just shared this on the FTMO thread. No idea how he trades but I came across it months ago.

Inserted Video


Don't know if he still has his accounts but 1 year of profitable EA trading is impressive.
  • #490
  • Apr 21, 2021 4:19am Apr 21, 2021 4:19am
Quoting garfield75
Has anyone here qualified or know of anyone qualifying on FTMO or 5% using an auto trading algorithm? A well-defined set of rules in an EA should be able to manage the lower DD and ability to trade market 24x5 means no trade setup is missed. Keen to see everyone's view on this.

I talked about it before, it is possible but the weekends without trading would f*ck up many of my strategies. Some of them are longer-term, some enter on Friday and I don't see an option how it would be feasible to do so.

Maybe I could try 5% but still, their program for me is not that appealing, I'd rather trade my own account still.
In God we trust. All others must bring data.
  • #491
  • Apr 21, 2021 4:29am Apr 21, 2021 4:29am
Quoting endgame99
{quote} Just an idea. What if you updated #post 1 with the list of prop firms. There would be list for prop firms that are 'community approved', 'under observation' and 'community rejected'. Example: FTMO would be under 'community approved' but MyFxSeed/MyForexFunds would be 'under observation' waiting for more payout proofs. The list would not be reflection of quality of prop firm model but more about finding valid stable businesses. It's up to each individual trader to decide, which model is suitable for his/her circumstances.
Certainly this will occur and Post 1 will be updated.

Then updated constantly moving forward to reflect any changes including of course perceived better deals.

The idea was to let the thread run for awhile to gather important and relevant feedback from all traders and then place a summary in Post 1.

Update to Post 1 will be provided over this following weekend.

Masterrmind ........
Master your Mind then Master your Trades
  • #492
  • Apr 21, 2021 4:34am Apr 21, 2021 4:34am
Quoting Mr.Sexobeat
{quote} I talked about it before, it is possible but the weekends without trading would f*ck up many of my strategies. Some of them are longer-term, some enter on Friday and I don't see an option how it would be feasible to do so. Maybe I could try 5% but still, their program for me is not that appealing, I'd rather trade my own account still.

I am think of it, since its just another account where I can activate my ea and see what comes out of it. $500 is a small risk, if I can plug in another income stream in return.
Trading is SIMPLE not EASY.
  • #493
  • Apr 21, 2021 4:39am Apr 21, 2021 4:39am
Quoting Takisd
mess and banter is more fun than organized lists that won't satisfy everyone and cause fighting and other crap. I have found in this prop firm market that if someone is trying to use one company, they will defend them to the death, like people using theproptrading. Its so clearly a junky company at the very best and was from day 1 and still people defend it despite all the multiple claims of malpractice. Fundingtalent is like a cult. Girl comes out, lies to everyone, throws in the industry under the bus and people still defend her to the death and...
I will update Post 1 with unbiased information.

Best approach is to have key information provided but let traders decide ... perhaps more like a thread summary.

Masterrmind .......
Master your Mind then Master your Trades
  • #494
  • Apr 21, 2021 5:56am Apr 21, 2021 5:56am
Quoting J3roM
Hey guys, I am new to prop firm trading and in the middle of passing my first challenge and evaluation with FTMO. So far I am very happy with the service they offer, they are fast and professional. I have contacted support once for a sample of the contract funded traders get and they provided this, no problem and they are very fast and polite. The rules set by FTMO are very simple and actually keep traders in check in my opinion. I have definitely blown accounts or lost weeks/months of trading in the past, because of not sticking to simple rules/limits...
because you are new here , I cannot send a PM , can you give me your email ?
  • #495
  • Apr 21, 2021 6:17am Apr 21, 2021 6:17am
Here's another one that looks interesting. https://www.audacitycapital.co.uk/thank-you-ftp/
10% DD allowable. NO "Daily" DD BS rule. Only 50/50 split though. NO BS overnight & weekend no trade rule. Food for thought.
Look Left Trade Right
  • #496
  • Apr 21, 2021 6:54am Apr 21, 2021 6:54am
Quoting Masterrmind
{quote} I will update Post 1 with unbiased information. Best approach is to have key information provided but let traders decide ... perhaps more like a thread summary. Masterrmind .......

Are you sure? I will go PaulMF on your ass if you show any hint of bias
  • #497
  • Apr 21, 2021 6:59am Apr 21, 2021 6:59am
Quoting Takisd
{quote} Are you sure? I will go PaulMF on your ass if you show any hint of bias
Unbiased as I said.

Masterrmind ........
Master your Mind then Master your Trades
  • #498
  • Apr 21, 2021 7:09am Apr 21, 2021 7:09am
Quoting Takisd
{quote} Are you sure? I will go PaulMF on your ass if you show any hint of bias


best comment i've read in good while
offering my system to copy trade. check my link
  • #499
  • Apr 21, 2021 7:19am Apr 21, 2021 7:19am
Quoting Basill
Here's another one that looks interesting. https://www.audacitycapital.co.uk/thank-you-ftp/ 10% DD allowable. NO "Daily" DD BS rule. Only 50/50 split though. NO BS overnight & weekend no trade rule. Food for thought.
I tend to like at least a 10% DD buffer.

The more rules in place the more challenging it might be to manage the account.

When I see drawdown limits set at 4% it's not ideal, at least not for me anyway.

At least having no overnight and weekend rules opens it up abit potentially for traders with longer term strategies as opposed to strictly day trading.

I have not traded with Audacity but I have heard about them.

Masterrmind ........
Master your Mind then Master your Trades
  • #500
  • Apr 21, 2021 7:40am Apr 21, 2021 7:40am
Quoting Basill
Here's another one that looks interesting. https://www.audacitycapital.co.uk/thank-you-ftp/ 10% DD allowable. NO "Daily" DD BS rule. Only 50/50 split though. NO BS overnight & weekend no trade rule. Food for thought.
1:3 or 1:5 leverage with 4% DD? Better off trading your personal account with 1:200 and keeping all your profits IMO.
103 traders viewing now