Prop Firm Hub | Page 221 | 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

  • #4,401
  • Oct 6, 2021 5:33am Oct 6, 2021 5:33am
Quoting Koop
{quote} Yeah, the 90% split rubs me the wrong way too. But with FTMO i think it's just an attempt at clever marketing, unlike FT who were doing it to save face during a crisis. FTMO knows damn well that only a small portion of participants make it to the funded stage and first pay out. I can only imagine that small portion greatly reduces in number for people who successfully retain their funded accounts for the required profitable 3-4 months in order to qualify for a scale up and upgrade in profit split. They know what they're doing.
but then what? You get to the second payout and FTMO stop making money from you? They have to recover the b-book loss of the first month. If you make 100k in the first month, get paid then they a-book you and give you 90% it will take them forever to make up that money. lol... Its such nonsense.
  • #4,402
  • Oct 6, 2021 6:01am Oct 6, 2021 6:01am
Quoting Takisd
{quote} but then what? You get to the second payout and FTMO stop making money from you? They have to recover the b-book loss of the first month. If you make 100k in the first month, get paid then they a-book you and give you 90% it will take them forever to make up that money. lol... Its such nonsense.
No Tak, the 90% is only for traders who have successfully scaled up. That is, after the 4 straight months of having the account, with two of those months being profitable. Now how many of the traders going crazy on leverage and making 100k in a month are going to survive up to 4 months and be eligible for that 90% split upgrade? Not many if any.
In the end it is only the most consistent and fairly conservative of traders that would ever qualify for a scale up and their pay outs may not make too much of a difference whether it is 80% or 90, and i believe such traders could be as low as 2-3% of funded traders.
  • #4,403
  • Oct 6, 2021 6:08am Oct 6, 2021 6:08am
Quoting Koop
{quote} No Tak, the 90% is only for traders who have successfully scaled up. That is, after the 4 straight months of having the account, with two of those months being profitable. Now how many of the traders going crazy on leverage and making 100k in a month are going to survive up to 4 months and be eligible for that 90% split upgrade? Not many if any. In the end it is only the most consistent and fairly conservative of traders that would ever qualify for a scale up and their pay outs may not make too much of a difference whether it is 80% or 90,...
Ah yes.. the scale up.... likely 1% of all live accounts... Still rubs me like a naughty priest.
  • #4,404
  • Oct 6, 2021 7:00am Oct 6, 2021 7:00am
Quoting Takisd
{quote} but then what? You get to the second payout and FTMO stop making money from you? They have to recover the b-book loss of the first month. If you make 100k in the first month, get paid then they a-book you and give you 90% it will take them forever to make up that money. lol... Its such nonsense.
would almost sound plausible, if FTMO or any pseudo props would be a brokerage...there is no a-book and b-book for these firms really.
even if they would have, as A-book, they would still run the risk that the next month you make a 10k+ loss (20k+ if 200k acct!), and god knows how much slippage, if something naughty happen to the market, of you go leveraged to the hilt like you made the first 100k the other month...
on the positive side, those big payout videos...the few where could make a decent search on the featured trader, it invariable turn out to be some wannabe youtube/online influencer with some paywalled things. the real thing. or affiliate marketing.
add to this, that maybe a few is somewhat established for real, they rarely of ever hold the license to anything more than an education game, or a learning simulator, with potential cash rewards, at their discretion ( per the finer of the fine prints).
there is always, always another trade!!
  • #4,405
  • Oct 6, 2021 7:13am Oct 6, 2021 7:13am
Quoting Koop
{quote} ...how many of the traders going crazy on leverage and making 100k in a month are going to survive up to 4 months and be eligible for that 90% split upgrade? Not many if any. In the end it is only the most consistent and fairly conservative of traders that would ever qualify for a scale up and their pay outs may not make too much of a difference whether it is 80% or 90, and i believe such traders could be as low as 2-3% of funded traders.
Exactly
Money is made by sitting, not trading
  • #4,406
  • Oct 6, 2021 7:28am Oct 6, 2021 7:28am
Quoting Takisd
{quote} but then what? You get to the second payout and FTMO stop making money from you? They have to recover the b-book loss of the first month. If you make 100k in the first month, get paid then they a-book you and give you 90% it will take them forever to make up that money. lol... Its such nonsense.


Wow I am learning alot from you guys, Thank You. So FTMO does not copy trades? What you think Takisd? Man, can they real just survive on failed challenges. A lot folks getting wiped out over and over.

Also someone mentioned slippage, how do get slipped on demo?
  • #4,407
  • Oct 6, 2021 9:21am Oct 6, 2021 9:21am
Quoting Koop
{quote} Yeah, the 90% split rubs me the wrong way too. But with FTMO i think it's just an attempt at clever marketing, unlike FT who were doing it to save face during a crisis. FTMO knows damn well that only a small portion of participants make it to the funded stage and first pay out. I can only imagine that small portion greatly reduces in number for people who successfully retain their funded accounts for the required profitable 3-4 months in order to qualify for a scale up and upgrade in profit split. They know what they're doing.
Youre right Koop. I saw an interview on youtube with the FTMO CEO, he acknowledged that just about 8% of traders get funded..

On the 90%, in the brick and mortar prop trading space, star traders command 90% profit splits; they get this after proving themselves and making the firm a boatload of money..
  • #4,408
  • Oct 6, 2021 9:24am Oct 6, 2021 9:24am
Quoting JustAVisit
{quote} Wow I am learning alot from you guys, Thank You. So FTMO does not copy trades? What you think Takisd? Man, can they real just survive on failed challenges. A lot folks getting wiped out over and over. Also someone mentioned slippage, how do get slipped on demo?

they probably don't need to copy any trades most months. But a big payout could rock the boat. I think funding talent died because they couldn't mitigate cheaters because they wanted to make fantasy market conditions for marketing purposes. Their liabilities became too big and voila.
  • #4,409
  • Oct 6, 2021 9:38am Oct 6, 2021 9:38am
Quoting Takisd
{quote} they probably don't need to copy any trades most months. But a big payout could rock the boat. I think funding talent died because they couldn't mitigate cheaters because they wanted to make fantasy market conditions for marketing purposes. Their liabilities became too big and voila.

I hear ya, whats up with ftmo leaderboard. They make it seems like folks are raking in every month. You think its fake?
  • #4,410
  • Oct 6, 2021 10:00am Oct 6, 2021 10:00am
Quoting Thoughts
{quote}I saw an interview on youtube with the FTMO CEO, he acknowledged that just about 8% of traders get funded..
Which is not far removed from the percentage of successful traders in a live environment. Very few are able to be successful at trading, regardless if they are using a prop firm or their own money.

Quoting Takisd
{quote} they probably don't need to copy any trades most months. But a big payout could rock the boat. I think funding talent died because they couldn't mitigate cheaters because they wanted to make fantasy market conditions for marketing purposes. Their liabilities became too big and voila.
Agreed, FT's problems weren't just because of a high split. There were throwing everything and anything at the wall, hoping something would stick.
Trade with confidence, trade without fear.
  • #4,411
  • Oct 6, 2021 10:05am Oct 6, 2021 10:05am
Quoting JustAVisit
{quote} I hear ya, whats up with ftmo leaderboard. They make it seems like folks are raking in every month. You think its fake?

Leaderboards are too easy to fake and too gameified for me to care. TFTP thing is equally deceiving.. As if a magic new company all of a sudden has magic new traders making huge profits on fxchoice and nashmarkets... Stinks of bullshit.
  • #4,412
  • Oct 7, 2021 6:55am Oct 7, 2021 6:55am
Hi guys

does anyone has issues with MFF? they stuff is not responding and new accounts take more than 72h.
They even mixed some accounts Challenge instead of Accelerated. I think they are super overloaded now. In discord as well people are complaining for new accounts
  • #4,413
  • Oct 7, 2021 7:03am Oct 7, 2021 7:03am
Quoting NXTrader
Hi guys does anyone has issues with MFF? they stuff is not responding and new accounts take more than 72h. They even mixed some accounts Challenge instead of Accelerated. I think they are super overloaded now. In discord as well people are complaining for new accounts
Certainly under the pump for sure with what could only be described as major growing pains with plenty of new traders making the shift.

Probably a combination of poor foresight and understaffed issues not to mention the tech issues.

I'm sure they will get it all sorted as time goes on.

Masterrmind ........
Master your Mind then Master your Trades
  • #4,414
  • Oct 7, 2021 7:06am Oct 7, 2021 7:06am
Quoting NXTrader
Hi guys does anyone has issues with MFF? they stuff is not responding and new accounts take more than 72h. They even mixed some accounts Challenge instead of Accelerated. I think they are super overloaded now. In discord as well people are complaining for new accounts
I sent phase II request on Monday, still waiting,..
  • #4,415
  • Oct 7, 2021 7:07am Oct 7, 2021 7:07am
Quoting NXTrader
Hi guys does anyone has issues with MFF? they stuff is not responding and new accounts take more than 72h. They even mixed some accounts Challenge instead of Accelerated. I think they are super overloaded now. In discord as well people are complaining for new accounts
Not surprising given they were having these issues prior to the FT meltdown and the 5-day rule change.
  • #4,416
  • Oct 7, 2021 7:12am Oct 7, 2021 7:12am
Quoting Boulder
{quote} I sent phase II request on Monday, still waiting,..
Wow that's an insane waiting time.

Should be 1 to 2 days.

Better yet, have the process automated.

I hope you get it soon.

I'm assuming you have been in contact with support.

My experience has been very positive however, I am yet to get to Phase 2 on MFF.

Masterrmind .........
Master your Mind then Master your Trades
  • #4,417
  • Oct 7, 2021 7:22am Oct 7, 2021 7:22am
Quoting Masterrmind
{quote} Wow that's an insane waiting time. Should be 1 to 2 days. Better yet, have the process automated. I hope you get it soon. I'm assuming you have been in contact with support. My experience has been very positive however, I am yet to get to Phase 2 on MFF. Masterrmind .........
Thank you Mastermind for your thread, I happened to read your posts 3 weeks ago, I started FTMO and MFF, currently 3 accounts on phase 2, hope all goes well.
  • #4,418
  • Oct 7, 2021 7:30am Oct 7, 2021 7:30am
Quoting Boulder
{quote} I sent phase II request on Monday, still waiting,..
I passed MFF phase 1 last week on friday and got my phase2 in 2 days on Sunday night.
Your worst drawdown is yet to come
  • #4,419
  • Oct 7, 2021 7:33am Oct 7, 2021 7:33am
Quoting Masterrmind
{quote} Wow that's an insane waiting time. Should be 1 to 2 days. Better yet, have the process automated. I hope you get it soon. I'm assuming you have been in contact with support. My experience has been very positive however, I am yet to get to Phase 2 on MFF. Masterrmind .........
Automated and instant within 30 days is what I'm hearing.
  • #4,420
  • Oct 7, 2021 7:45am Oct 7, 2021 7:45am
Quoting Masterrmind
{quote} Wow that's an insane waiting time. Should be 1 to 2 days. Better yet, have the process automated. I hope you get it soon. I'm assuming you have been in contact with support. My experience has been very positive however, I am yet to get to Phase 2 on MFF. Masterrmind .........
My first MFF account got phase II within 48 hours last week, this is my 2nd account for phase II, I requested this Monday, I contacted their support due to delay, they did email me back this morning, I will let you know when I get it. I understand they are busy.
73 traders viewing now