Prop Firm Hub | Page 123 | 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

  • #2,441
  • Jul 19, 2021 6:27pm Jul 19, 2021 6:27pm
You did not read correctly.

Out of 20k earned in 2 weeks, if 10k is earned in one day.

That is real gambling.

Further more they are not denying payouts, they just say..if you made 10k ( 10000 ) in one day, then you make 20001 dollar and we pay you in the next pay cycle.
Intraday only.
  • #2,442
  • Jul 19, 2021 6:32pm Jul 19, 2021 6:32pm
I can see that this announcement came to encourage traders...( 90 % payout ) but not cheaters.
Intraday only.
  • #2,443
  • Jul 19, 2021 6:33pm Jul 19, 2021 6:33pm
Quoting navk
You did not read correctly. Out of 20k earned in 2 weeks, if 10k is earned in one day. That is real gambling.

If you have 300k and you use your risk at 1.5% you can make 10k in a trade no problem. Its pretty much how I have passed 4 FTMO's 3 MMFs (and hopefully a 4th soon) and 2 FT's.

I don't quite understand why you are so in love with this firm. They have publicly stated they are "pay to play" in court and you are defending them to the hilt. They aren't willing to pay earned trades, even futures prop firm in the world would pay you whether you got lucky or not but they don't have that problem because they limit your size. So if you make it big they will happily pay you.

The telling fact in their statement is that they are willing to increase the payout of the small earners to 90% until 10k then normal above that. Which says that they want to deter the bigger earners and if they just keep the smaller guys they can continue paying comfortably.

The majority of my profits from all my trading at all firms generally comes from 1 week of trading and 3-4 good trades. The rest is just churny break even trades because the market doesn't perform and my risk triggers are hit. Sometimes easily 1 good trade of my month makes up 50% of my profit and 2/3 months its over 10k. I have an edge, and it has a high R:R. Am I gambler? Should I be punished? Ftmo doesn't think so, MFF doesn't think so, so why does FT?
  • #2,444
  • Jul 19, 2021 6:39pm Jul 19, 2021 6:39pm
Quoting Takisd
{quote} If you have 300k and you use your risk at 1.5% you can make 10k in a trade no problem. Its pretty much how I have passed 4 FTMO's 3 MMFs (and hopefully a 4th soon) and 2 FT's. I don't quite understand why you are so in love with this firm. They have publicly stated they are "pay to play" in court and you are defending them to the hilt. They aren't willing to pay earned trades, even futures prop firm in the world would pay you whether you got lucky or not but they don't have that problem because they limit your size. So if you make it big...
10k is just a number, but what they mean is if you earn 50 % of your 15 day earning in 1 day.

You make, 10k, 2k, 1k, 12k, ....and the total earning exceeds 24001, they will not stop.

The problem comes if you make 10k in 1 day and then...9.9k in rest 14 days.
Intraday only.
  • #2,445
  • Jul 19, 2021 6:42pm Jul 19, 2021 6:42pm
The problem is...there were cheaters in FT recently.

So, having signed up with them, let us accept the plus side of rules ( 90 % SHARE ) as well as minus side of rules.

If you ask me, i will be happy if they pay traders like you and me, but not gamblers.
Intraday only.
  • #2,446
  • Jul 19, 2021 6:43pm Jul 19, 2021 6:43pm
Quoting navk
{quote} 10k is just a number, but what they mean is if you earn 50 % of your 15 day earning in 1 day. You make, 10k, 2k, 1k, 12k, ....and the total earning exceeds 24001, they will not stop. The problem comes if you make 10k in 1 day and then...9.9k in rest 14 days.

My last payout was 15k for the last bi weekly at MFF. I got it from 8 trades, 1 winner 1 loss and rest break even. At FT they wouldn't pay me because all of it is from 1 trade. Got my payment the same day I requested it. Thats the difference. I also know of 2 others at FTMO who trade similarly and most of their profits come from 1 or 2 trades and they have been at FTMO since februray. Just because its one big gain, doesn't mean the trader is gambling. To stay in the game you have to manage your risk, if you can do that, the sky is the limit. Now there is a proverbial glass ceiling for earners at FT.

If they want to deter gamblers, they should be limiting number of open positions, size of overall open position and maximum position risk, not whether or not they pay someone.
  • #2,447
  • Jul 19, 2021 7:03pm Jul 19, 2021 7:03pm
Quoting Takisd
{quote} My last payout was 15k for the last bi weekly at MFF. I got it from 8 trades, 1 winner 1 loss and rest break even. At FT they wouldn't pay me because all of it is from 1 trade. Got my payment the same day I requested it. Thats the difference. I also know of 2 others at FTMO who trade similarly and most of their profits come from 1 or 2 trades and they have been at FTMO since februray. Just because its one big gain, doesn't mean the trader is gambling. To stay in the game you have to manage your risk, if you can do that, the sky is the limit....
Or, as the old saying goes,........ maybe they have bitten off more than they can chew. If they are deferring to the next pay period, and paying anyway, what type of trading are they trying to deter? Just my opinion, but sounds like a stall tactic due to the inability to pay, while at the same time another two weeks the trader could lose some of the profit HE/SHE SHOULD HAVE ALREADY BEEN PAID. I personally don't care either way, I do not nor will I ever use them, I am not biased to any one firm, I'm just calling it as I see it. I simply try to put myself in the best position to earn from prop firms for as long as I can.
  • #2,448
  • Edited 10:14pm Jul 19, 2021 8:22pm | Edited 10:14pm
I would not blame on Firm, but cheaters.

The firm wants to protect themselves in some way and that is what they did.

They will not put restrictions on lot size as this will discourage many .. and people will talk of lot size restriction.

This is the best way to stop gamblers and pay genuine traders.

This rule might not be good for very good traders too but definitly good for mejority of geniune traders.
Intraday only.
  • #2,449
  • Jul 19, 2021 8:43pm Jul 19, 2021 8:43pm
Quoting emicovi
{quote} So relative DD its better than having a fixed DD? Because lets say I have a live account of 50k, and I go to 53k, my relative DD is now 2120 instead of 2000?
This is how I understand it works.

Say you have a 5k account.

With a fixed 4% DD of $200, you're allowed to make gains/losses on the account as long as your balance doesn't go below $4800.

With a relative 4% DD, if you gain $200 on the account as in my previous example, your account can't go below $4992.

That's why most traders like the fixed vs the relative DD model. The latter, however, is what funds prefer.
Amor Fati--F. Nietzsche
  • #2,450
  • Jul 19, 2021 10:46pm Jul 19, 2021 10:46pm
Quoting navk
{quote} yes, they do not want Gamblers. You assessed correctly. I see this : For example, we offer payouts on the 1st and 15th of each month. Let’s say a trader begins trading the account on the 1st of the month, and by the 14th they have accumulated $20K in profits. If $10K was earned in one trading day alone, they would not be eligible for payout on the 15th. This is because 50% of profits were made in one day. They would need to keep trading the account until more profits are accumulated, so that $10K would no longer be equivalent to half of...
Sounds ridiculous to me.

Almost like adding clause after clause for more and more conditions placed on the trader.

Pay the traders or shut-up shop, it is that simple.

Traders will be irritated by these announcements.

Masterrmind ........
Master your Mind then Master your Trades
  • #2,451
  • Jul 19, 2021 10:50pm Jul 19, 2021 10:50pm
I would blame the model rules by the Prop Firm.

If traders are trading within the rules, pay them, otherwise it's going to look really bad, really quickly.

Thank you to all the traders who posted about this, top effort.

Masterrmind ........
Master your Mind then Master your Trades
  • #2,452
  • Jul 19, 2021 11:32pm Jul 19, 2021 11:32pm
Quoting JFX95
{quote} Hello Mcquak. You are losing your time here speaking with those SuperHeroes of the markets. They think they are all gonna make it with 10% max DD at 1:100 leverage. Actually, this is what the 95% of losers thinks. The Professional Trader thinks in terms of 3-5 years periods of time, not in terms of weeks. Plus, they are forgetting that in Lux you can go far beyond trading 10 millions accounts. You have also a track record audited by KPMG. If you are a Professional Trader you know what it means. With a 3-5 Year track record audited by KPMG,...
Interesting first post. And by interesting I mean useless. Seems the "PaulMF" syndrome is contagious.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,453
  • Jul 19, 2021 11:36pm Jul 19, 2021 11:36pm
Quoting Masterrmind
If traders are trading within the rules, pay them, Masterrmind ........
I guess, all this happened due to some 50 traders took advantage of delayed feed in one instrument and booked huge profits.

This kind of trading in delayed feed is restricted in MFF.

"Any latency arbitrage trading will be cancelled,banned and not refunded Any tick scalping strategies will be cancelled,banned and not refunded Any copy trading of other persons signals if caught will be cancelled,banned and not refunded Any reverse arbitrage trading will be cancelled, banned and not refunded Any hedge arbitrage trading will be cancelled, banned and not refunded Any use of emulators will be cancelled, banned and not refunded "
Intraday only.
  • #2,454
  • Jul 20, 2021 12:39am Jul 20, 2021 12:39am
Quoting navk
{quote} I guess, all this happened due to some 50 traders took advantage of delayed feed in one instrument and booked huge profits. This kind of trading in delayed feed is restricted in MFF. "Any latency arbitrage trading will be cancelled,banned and not refunded Any tick scalping strategies will be cancelled,banned and not refunded Any copy trading of other persons signals if caught will be cancelled,banned and not refunded Any reverse arbitrage trading will be cancelled, banned and not refunded Any hedge arbitrage trading will be cancelled, banned...
If traders have clearly broken the rules then it's a different matter.

The main point is that traders have access too and are aware of current rules or any rule updates in a timely manner.

If so then it's a far better proposition for both sides.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,455
  • Jul 20, 2021 12:42am Jul 20, 2021 12:42am
Quoting Expo33
{quote} Interesting first post. And by interesting I mean useless. Seems the "PaulMF" syndrome is contagious.
I almost thought it was the same person.

Maybe it is .... Clone after clown after clone ....

Masterrmind ........
Master your Mind then Master your Trades
  • #2,456
  • Jul 20, 2021 3:24am Jul 20, 2021 3:24am
Quoting Takisd
https://fundingtalent.com/announcements/ The One Day Payout Requirement The following payout requirement takes effect for all Elite members on August 14th at 11:59 PM EST. This means all trades taken August 1st and later will need to follow this guideline in order to withdraw on the 15th of August and onward. The next payout date on August 1st will not be affected by this change. This ultimately affects any new members who sign up from July 19th onward as reflected on the website. The payout requirement applies only to Funding Talent...
I love FT, but i swear this is weird as hell.
No one forced them to offer bi-weekly pay-outs, seems it's becoming difficult to keep up.
It also shouldn't matter how the profits are made so long as no rules are broken and there are no proven unfair practices such as arbing.
A little Worrying. The new 90% profit split may also be a diversion.
Tread carefully fellow FT enthusiasts. Get your refund and first profit split as soon as possible and don't spend it all on acquiring more FT accounts.
  • #2,457
  • Jul 20, 2021 3:34am Jul 20, 2021 3:34am
Quoting Koop
{quote} I love FT, but i swear this is weird as hell. No one forced them to offer bi-weekly pay-outs, seems it's becoming difficult to keep up. It also shouldn't matter how the profits are made so long as no rules are broken and there are no proven unfair practices such as arbing. A little Worrying. The new 90% profit split may also be a diversion. Tread carefully fellow FT enthusiasts. Get your refund and first profit split as soon as possible and don't spend it all on acquiring more FT accounts.
Good advice at this stage Koop.

Masterrmind ..........
Master your Mind then Master your Trades
  • #2,458
  • Jul 20, 2021 6:14am Jul 20, 2021 6:14am
Quoting Takisd
{quote} If you have 300k and you use your risk at 1.5% you can make 10k in a trade no problem. Its pretty much how I have passed 4 FTMO's 3 MMFs (and hopefully a 4th soon) and 2 FT's. I don't quite understand why you are so in love with this firm. They have publicly stated they are "pay to play" in court and you are defending them to the hilt. They aren't willing to pay earned trades, even futures prop firm in the world would pay you whether you got lucky or not but they don't have that problem because they limit your size. So if you make it big...
You know right that FTMO and MFF and all the others are "pay to play" too? I hope you know
  • #2,459
  • Jul 20, 2021 6:33am Jul 20, 2021 6:33am
Quoting emicovi
{quote} You know right that FTMO and MFF and all the others are "pay to play" too? I hope you know
Yes, maybe so, but FTMO paid out 1.6 million last month, just in USD accounts. Big difference.
  • #2,460
  • Jul 20, 2021 7:06am Jul 20, 2021 7:06am
Quoting emicovi
{quote} You know right that FTMO and MFF and all the others are "pay to play" too? I hope you know

I know for a fact that you're wrong in both cases. But thats ok, you do you boo.
77 traders viewing now, 1 is registered: