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  • #6,281
  • Jan 6, 2022 7:58am Jan 6, 2022 7:58am
Quoting mrdfx
What happened to theproptrading? Are they still around? I remember a while ago they made quite a stir in the prop trading community and then they went quiet. Is anyone using them?
As I recall they had some issues last year regarding payouts and taxes. I never followed how it got resolved but it had to do with the Aussie govt. They Trustpilot reviews are not good.
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  • #6,282
  • Edited 9:02am Jan 6, 2022 8:34am | Edited 9:02am
Quoting pipmaster77
{quote} Yes, I've looked, two things as of right now I don't like. First is their broker offering as I truly prefer the firm have it's own server, with feed from their own LPs as FTMO and MFF do. Second, I just don't trust Blake, ever since I started looking at prop firms 18 months ago, I would watch his "reviews" videos. Initially, it appeared they were honest as his top selections were good, then it just appeared as if he was hawking anyone that came along and offered him good affiliate money. I believe taskid was using them and got paid though,...
I got the first payout from Funded Trader in mid December. It was paid in crypto. I didn't like that they charged 75 USD for USDC transfer (and that's way more than the gas fees on that day (I could see that this 75 USD was an exact value - they charge in excess). MFF does not charge any value when transferring USDC (although they pay gas fees).

Payout was requested on Thursday and processed on Monday. However the MT4 account withdraw was only adjusted on Tuesday. We can't trade during that period. It's too much IMO.

Spare notes about Funded Trader:
- Challenge credentials are automatic after we pay. Also automatic for retries (no need to ask - they send the credentials as soon as the last day ends)
- After phase 1 takes one day to verify
- After phase 2 they're incredible slow to provide credentials. It took 9 working days after I provided documents and signed agreement. As far as I see in discord, they seem to welcome new traders on Mondays (same in my case). I suspect that anyone ending phase 2 on a Tuesday will have to wait that time.
- Indexes in funded accounts have to be entered in 0.5 lots. They say it's because copying matters. If one wants to trade 2 lots it has to enter 4x0.5 lots
- Spreads are not the best, but not the worse, either (0.6 pips in GBPUSD, 0.5 pips in EURUSD, 0.6 pips in AUDUSD)
- Commissions are 5 USD per lot.
- Broker (Nash) is not very stable. Sometimes we try to login and there's no connection. Not sure if on those moments the orders are respected. Fortunately never had to experience that.
  • #6,283
  • Jan 6, 2022 9:02am Jan 6, 2022 9:02am
Quoting mrdfx
What happened to theproptrading? Are they still around? I remember a while ago they made quite a stir in the prop trading community and then they went quiet. Is anyone using them?
I'm with them since Sep aprox. Got the first payout in mid December, like Funded Trader. It was also paid in crypto, although they use USDT instead of USDC (which is used by MFF and Funded Trader). I paid about 25 USD of gas fee which is fair for the gwei cost when transfer was done.

I requested that (in a google form) on a Monday, it was approved same day and paid on Tuesday. The refund of the initial fee was also received on Tuesday. They were pretty quick.

Spare notes about The prop Trading:
- Credentials are automatic after purchasing
- From phase 1 to 2 is automatic
- After phase 2 it took one working day to received funded credentials, after uploading documents and signing the agreement
- They don't have biweekly, that's bad
- In funded account max position per instrument is 5 lots (in 100K accounts). We can have 5 lots in GBP and 5 lots in AUD and 5 lots in EUR but not 6 lots in GBP alone. This is valid for the first 3 months of the account. It's easy to make a mistake and immediately lose the account (no warnings).
- One can get only one free retry. A free retry doesn't have another free retry.
- No commissions. The spreads are a bit wider because of that (1.1 pips in GBPUSD, 0.9 pips in EURUSD, 0.9 pips in AUDUSD)
- Broker has been stable as far as I could see (BRHoldings)
  • #6,284
  • Jan 6, 2022 9:21am Jan 6, 2022 9:21am
Quoting Capablanca
{quote} I'm with them since Sep aprox. Got the first payout in mid December, like Funded Trader. It was also paid in crypto, although they use USDT instead of USDC (which is used by MFF and Funded Trader). I paid about 25 USD of gas fee which is fair for the gwei cost when transfer was done. I requested that (in a google form) on a Monday, it was approved same day and paid on Tuesday. The refund of the initial fee was also received on Tuesday. They were pretty quick. Spare notes about The prop Trading: - Credentials are automatic after purchasing...
2 great posts. Very valuable info. I assume you are already with FTMO and MFF as well, so running 4 firms? Pretty impressive. Good to see they both use stable coin for withdrawal. That does suck about the flat fee in excess of withdrawal with The Funded Trader.
  • #6,285
  • Jan 6, 2022 10:09am Jan 6, 2022 10:09am
MFF support has really gone to the dogs. Do you guys see this as a major red flag developing regarding their legitimacy/viability? Haven't they had enough time to shore up that aspect of the business?
  • #6,286
  • Jan 6, 2022 10:44am Jan 6, 2022 10:44am
Quoting Wiley7777
MFF support has really gone to the dogs. Do you guys see this as a major red flag developing regarding their legitimacy/viability? Haven't they had enough time to shore up that aspect of the business?
Yes support has been horrible as of late. As far as legitimacy, they just invested in automation, new dashboard, etc, so I think they are long term committed. I truly think they simply grew much faster than anticipated. Funding Talent going out of business I'm sure brought an influx of new customers and they have the best deal on the market, so I'm sure a lot of new customers as well. For now, I attribute it to being understaffed. I also believe, but not certain, that only new customers were on the new system and new dashboard so any one live or going from a phase 1 to 2 or phase 2 to live all had to be done manually. I know they had to manually move me. Retries and extensions on old system to new as well. Not making excuses for them, just sharing why I believe the problem exists. I will say, once they get everything fully automated and staffed up, they should run away with #1 spot.
  • #6,287
  • Jan 6, 2022 11:00am Jan 6, 2022 11:00am
Thanks for that pipmaster. It gives me at least a bit of peace of mind. I want them to succeed, big time. They've opened up new possibilities for me and I'm sure for many many others.
  • #6,288
  • Jan 6, 2022 11:51am Jan 6, 2022 11:51am
Quoting pipmaster77
{quote} 2 great posts. Very valuable info. I assume you are already with FTMO and MFF as well, so running 4 firms? Pretty impressive. Good to see they both use stable coin for withdrawal. That does suck about the flat fee in excess of withdrawal with The Funded Trader.
I was with FTMO but last Summer I got an email from them with a termination notice. Apparently they didn't like my trading style and terminated based on their T&C (gambling).

My main objective with these trading firms is to fund my own trading account and have 100% profits for myself. So, my approach with FTMO, at the time, was to do little trades per day (1 or 2) and one of 2 things happened:
1. As soon as I got about 5% or 6% profit I would stop trading and only took 0.01 lots to complete the minimum 10 trading days. Then waited for the payout and started again the next month.
2. If not in profit, I would kept trading until I got positive or blown up the account

I was very careful respecting the daily DDs, not trading news, closing before weekends, etc.
I never did anything trickier like taking advantages of misquotes or anything like that (I'm very basic, I don't even know how to use a EA or things like those).
And positions were never very risky. I would say that most of them were around 1:5 to 1:10. Never had those extremely leveraged positions like 1:50 or so.
And very little trades (1 or 2 per day). Sometimes I would divide 5 lots in 2x2.5 but that was all.

Sometimes I exchanged some of the payouts for new challenges, so I always had a pipeline of challenges and verifications running, waiting for whenever a funded account was blown up. In challenges and verifications I used to pass them in 1 or 2 days and then doing 0.01 trades to complete the 10 days.

I did this over and over again and earned some money. They didn't appreciated it and terminated that based upon clause 10.1 and 12.2 (not sure if they are the same now).

When they terminated this, I had 3 funded accounts (2 of them in profit) and several challenges and verifications running.
They paid me the profit split on those accounts in profit.
And also reimbursed me for all challenges and verifications (and for the account not in profit).
Some challenges or verifications had been in exchange of payouts and they valued that at market price.
I didn't like what happened but I must say they were 100% honest.

All this was a lesson for me. Until then I only worried about the general rules and never about the trading style.
Now, in other props, I try to complete the challenges and also to trade funded in a way that doesn't open the door to gambling interpretation. It's a bit slower but that's life.

I'm enclosing charts of some of those funded accounts I had in FTMO.
It's pretty much like I said. Either a profit and wait for payout or blown up account. I can understand that they didn't like. It's not exactly trading.
If I guessed this would happen I would have done differently because FTMO is, no doubt, the best prop out there.
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  • #6,289
  • Jan 6, 2022 12:24pm Jan 6, 2022 12:24pm
Quoting pipmaster77
{quote} Yes support has been horrible as of late. As far as legitimacy, they just invested in automation, new dashboard, etc, so I think they are long term committed. I truly think they simply grew much faster than anticipated. Funding Talent going out of business I'm sure brought an influx of new customers and they have the best deal on the market, so I'm sure a lot of new customers as well. For now, I attribute it to being understaffed. I also believe, but not certain, that only new customers were on the new system and new dashboard so any one...
I've been interacting with them in the past 2 weeks and was pretty decent, knowing that last week was the one between xmas and new year.

I passed a phase 1 Wednesday and received new credentials on Thursday.
I passed a phase 2 on Thursday and got live credentials on Sunday (no need to submit documents because I already had one). Credentials are already from the new system.
Payout requested on Thursday and received on Saturday (crypto). Bonus phase 1 requested this Monday and received same day (Deel)
This morning I passed another phase 2 challenge. Still waiting for funded credentials, which is normal. I have not asked yet the bonus phase 1 of this one.

All seems normal, thus, although these are pretty standard. Those having to deal with CS for more difficult matters maybe are facing difficulties.
They assumed in Discord this morning that they are overwhelmed with more emails than they can reply and training new staff for that.
So let's hope they're working for the long term and that's just a temporary thing.
  • #6,290
  • Jan 6, 2022 12:53pm Jan 6, 2022 12:53pm
Quoting Capablanca
{quote} I was with FTMO but last Summer I got an email from them with a termination notice. Apparently they didn't like my trading style and terminated based on their T&C (gambling). My main objective with these trading firms is to fund my own trading account and have 100% profits for myself. So, my approach with FTMO, at the time, was to do little trades per day (1 or 2) and one of 2 things happened: 1. As soon as I got about 5% or 6% profit I would stop trading and only took 0.01 lots to complete the minimum 10 trading days. Then waited for the...
Good to know. I trade so ridiculously small never had an issue with either firm. I risk 3% of ALLOWABLE DD per trade, and if I lose 3 in a day, I'm done. This results in about 1.25% loss of EQUITY (25% of what is allowed). Trading this way on live funded accounts allows me to grind out, on average, 1-1.5% of EQUITY weekly. When doing the challenges risk needed to be increased to 5-6% of ALLOWABLE DD. Free retires help and MFF has that free one time extension if you forfeit your unlimited free retries. So really only needed to adjust the risk on FTMO challenges as I can just trade normally on MFF to get 8% in 2 months.
  • #6,291
  • Jan 6, 2022 1:25pm Jan 6, 2022 1:25pm
Quoting pipmaster77
{quote} Good to know. I trade so ridiculously small never had an issue with either firm. I risk 3% of ALLOWABLE DD per trade, and if I lose 3 in a day, I'm done. This results in about 1.25% loss of EQUITY (25% of what is allowed). Trading this way on live funded accounts allows me to grind out, on average, 1-1.5% of EQUITY weekly. When doing the challenges risk needed to be increased to 5-6% of ALLOWABLE DD. Free retires help and MFF has that free one time extension if you forfeit your unlimited free retries. So really only needed to adjust the...
That sounds wise. I think I was too greedy with FTMO, wanting to earn a lot, in a short period of time.
Nowadays in funded accounts I try not to lose daily more than 2% of the equity, sometimes even less, usually 2 or 3 trades. I think I learned something with FTMO.

Last post I forgot to reply to you. Right now I'm funded with MFF, The Prop Firm and The Funded Trader. Trying to diversify the risk, if some shuts me down like FTMO.
I got about 4 or 5 payouts from MFF and only 1 payout from each of the other two (accounts are more recent).
Very likely (almost done) I'll get a funded on True Forex in the next couple of days. Fingers crossed.

I have one challenge running in Traders Central (I enrolled after reading that they went back and said they won't have more arbitrary decisions after passing challenge - let's see if that's true) and another challenge in The Trading Capital (so far not impressed with their customer service response speed - I'm a bit suspicious about them right now, let's see).

When I started back in 2019 I didn't know how to think in terms of fee per max DD and all that stuff.
I was heavy in top step trader (both futures and forex) and made quite decently, despite the horrible model.
BluFx was the first prop and the only one where I lost money, so far, all included, fees and payouts (today I just laugh at it - what a mistake - I know they changed the rules recently, didn't look at them yet, but at that time it was really bad and I had not realized).
Surprising, Funding Talent was the company where I collected more money of all props. I was extremely lucky. Really lucky on the challenges pass dates, which I accumulated in a single account, and then on the payouts timing.
  • #6,292
  • Jan 7, 2022 2:34am Jan 7, 2022 2:34am
Hello!
I'm trying to develop a trend-following strategy, and I can't say I'm totally helpless, but still far from being confident. Would you share what approaches/strategies you guys trade, as I think that trading for a prop firm requires better than average skills.
  • #6,293
  • Jan 7, 2022 2:53am Jan 7, 2022 2:53am
ThePropTrading is still going and giving regular payouts to their traders. They still have some of some strange rules in place which is causing traders problems, but as these are all well known now, should not still be an issue. Just have to read the FAQ

I did notice in their December stats that their overall payout was a lot less that other prop firms and less that it has been, so whether traders have not had a good month, or moved away to other firms only time will tell.
  • #6,294
  • Jan 7, 2022 5:16am Jan 7, 2022 5:16am
Quoting oohoo
Would you share what approaches/strategies you guys trade
-For what it's worth...

I trade US100 only (these days). Purely indicator-driven (and basic market structure and price action). My exposure to market is usually never over 15 minutes and usually under 5, I would say.

I trade the same, 1-hour time-block and I never trade outside of this window. I use multiple time-frames; higher time-frames to gauge market direction and lower time-frames for entry/exit.

I trade the smallest position sizes possible and stack my trades using multiple entries, but still keep my overall exposure much, much smaller than most probably do.

I use an EA to auto-place SL/TP. I rarely use the SL, though, as it mostly serves as emergency protection, and I can usually determine pretty quickly if the market is not going to do as expected.

I do not always use my TP, either. My SL/TP is pretty wide and is 1:1, but not so wide that it would cause serious damage. I also use a 'close-all' EA to quickly close out of all positions.

R:R is okay. Win rate is very good.

Trading the same time-block has probably been the most helpful thing, yet took the longest to realize. Next thing would probably be simply trading smaller, because even though I could flip an account in a few hours pretty consistently, it simply is not a good way to trade over the long-term, because no human will trade perfectly or respond perfectly 100% of the time, and even great traders can get caught up in emotional trading under the right circumstances.
  • #6,295
  • Jan 7, 2022 6:03am Jan 7, 2022 6:03am
Quoting oohoo
Hello! I'm trying to develop a trend-following strategy, and I can't say I'm totally helpless, but still far from being confident. Would you share what approaches/strategies you guys trade, as I think that trading for a prop firm requires better than average skills.
Goo here is best one
https://www.forexfactory.com/thread/...9#post13849269
  • #6,296
  • Jan 7, 2022 8:32am Jan 7, 2022 8:32am
Quoting Nsak3y
{quote}-For what it's worth... I trade US100 only (these days). Purely indicator-driven (and basic market structure and price action). My exposure to market is usually never over 15 minutes and usually under 5, I would say. I trade the same, 1-hour time-block and I never trade outside of this window. I use multiple time-frames; higher time-frames to gauge market direction and lower time-frames for entry/exit. I trade the smallest position sizes possible and stack my trades using multiple entries, but still keep my overall exposure much, much smaller...
So you know the behaviour of your asset at particular time very well.
  • #6,297
  • Jan 7, 2022 8:54am Jan 7, 2022 8:54am
Quoting oohoo
So you know the behaviour of your asset at particular time very well.
-I suppose that everyone should.

I trade during a time-block where there is a lot of volume, where everything is the most predictable and suitable for my strategy.

When you spend enough time studying the charts, you can see that different strategies and time-frames work better at certain times, but not so much during others. This is because you have different money moving the markets, different people using different strategies and so forth. The market can take on a new personality.

The more that you can narrow things down in your favor, the better that your odds will be, and the better you will be at recognizing what works and what doesn't, as opposed to trying to adapt to an ever-changing market.
  • #6,298
  • Jan 7, 2022 11:32am Jan 7, 2022 11:32am
The Prop Trading will allow 3 free retrys as long as you finish the month in profit and do not break their daily and max loss rules. FTMO (and I think MFF) offer unlimited free retrys if you dont break the rules.

With The Prop Trading, the main gotchas when doing the evaluation period is do NOT trade OIL or Crypto over a weekend. The rest is fairly standard stuff
  • #6,299
  • Jan 7, 2022 12:10pm Jan 7, 2022 12:10pm
Quoting Nsak3y
{quote}-It's the same 'idea' being used by Ment and other firms that started popping up around that time; the same firms that are using 8cap. I think it's a new white label program.
Funded Trading Plus (FT+) is not a white label. All our programs are our own, we pay for back office tech and we use 8Cap because of their service levels, their crypto offering and their very competitive spread. As our own business and not a white label we can in theory change any of these at any time. Hope that clarifies that point. Yes, we are a new firm in prop trading but we have been in the trading business as Trade Room Plus for many years. We've started well and we have a now a small number of funded traders and we are really looking forward to paying out to these. Thanks to all who have tried us, your feedback is great.
  • #6,300
  • Jan 7, 2022 1:21pm Jan 7, 2022 1:21pm
Quoting MichaelFTP
Funded Trading Plus (FT+) is not a white label. All our programs are our own
-That seems very unfortunate.

Quoting MichaelFTP
we can in theory change any of these at any time.
-If you were truly receptive to hearing traders out, and genuinely cared about finding a healthy balance, then you would strongly consider ditching any program that forces traders to use their own money to serve as 100% of the draw-down allowance. Providing traders with a locked-in draw-down opportunity is not a gift if they are literally trading with their own money.
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