Prop Firm Hub | Page 446 | 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

  • #8,901
  • Jun 30, 2022 2:52pm Jun 30, 2022 2:52pm
Quoting symmtrytradr
{quote} Glad I'm not the only one. Even better is the top comment: " Titantrading 6 days ago I'm speechless, this is the best FTMO's interview that I've seen so far. Paul trades like a real "market wizard", he thinks like a genius and act like a computer, bringing us the best RRR and money results. God bless you Paul and FTMO for this amazing and inspiring video "

the thing about the JPY stuff. Shows they both dont know what they are talking about and starts to make me think its some sort of scripted bullshit. I dno ... FTMO is wonderful and I wonder why they do such things. Lamboraul thing really means you have to take things with a grain of salt when it comes to their media/comments.
  • #8,902
  • Jun 30, 2022 3:11pm Jun 30, 2022 3:11pm
Hi I'm new to the prop firms, I am wondering... Does anyone know if you can trade with multiple firms at once? I'm not saying copy trading , say like doing a 30 minute strategy with one firm and a 1 hr strategy with another manually; because the only problem I have with the one I'm using so far (which I'm not going to say) so far is that they take extremely long to level up and I have bills to pay. I want to do Surgetrader in addition to what I'm already doing? anyone know? Surgetrader seems to be the only one that lets you skip levels. Otherwise, it looks like I'm going to be eating beans all year here till I make more progress.
  • #8,903
  • Jun 30, 2022 3:22pm Jun 30, 2022 3:22pm
Quoting Markula
Hi I'm new to the prop firms, I am wondering... Does anyone know if you can trade with multiple firms at once? I'm not saying copy trading , say like doing a 30 minute strategy with one firm and a 1 hr strategy with another manually; because the only problem I have with the one I'm using so far (which I'm not going to say) so far is that they take extremely long to level up and I have bills to pay. I want to do Surgetrader in addition to what I'm already doing? anyone know? Surgetrader seems to be the only one that lets you skip levels. Otherwise,...
each firm is different but copying your own trading on most should be ok.
  • #8,904
  • Jun 30, 2022 3:31pm Jun 30, 2022 3:31pm
Quoting Takisd
{quote} the thing about the JPY stuff. Shows they both dont know what they are talking about and starts to make me think its some sort of scripted bullshit. I dno ... FTMO is wonderful and I wonder why they do such things. Lamboraul thing really means you have to take things with a grain of salt when it comes to their media/comments.

Exactly..tough to watch - every time he pulled up the charts and starting explaining I wanted to pull out my hair.
Plan your trade, trade your plan
  • #8,905
  • Jun 30, 2022 3:38pm Jun 30, 2022 3:38pm
Quoting Takisd
{quote} I guess newbies would tolerate this interview. I cringed harder than I have ever cringed at the trade explanation parts which made 0 sense. If its real, its ok to just say "yeh i was lucky cos of market volatility". MACD.... weekly charts.. prop firm conditions... luck.
I haven't even watched this yet, though have it bookmarked for later...
your take on it is exactly what I am expecting, though, if it's par for almost every other void of sense "explanation" of trades that I've seen...


just catching up on the thread here now and wanted to say how glad I am to have your input here again, Takisd...
invaluable.
  • #8,906
  • Jun 30, 2022 3:43pm Jun 30, 2022 3:43pm
For me there are two keys with the interview of Paul who made a 400k payout at FTMO. First, he said several times he is first a fundamental trader, so if you are right in the direction, technicals does not matter that much. Second, when you start a position and you do swing trading, as he has done it, then you only need to build up your position when you are in profits. And that is only possible with FTMO because they have such max daily loss rule, which is based on balance only, so with floating open profits you can have much higher volatility than the max daily loss. This does not work at other props as I am not aware of such max daily loss rule here as FTMO has it. So regardless of higher scores for some other props, if you are swing trader, then you should choose FTMO. You can do the same, start small and when you are in profits then increase positions by every day. That is the way to get huge incredible payouts at FTMO. As a daytrader I doubt it is possible to have a 400k payout with a 400k account or something like that. But then the max daily loss rule is irrelevant and you can just look at the score which the prop is offering, and of course the overall trading conditions and any kind of hidden or published rules. Paul was only showing his technicals with standard indicators and standard settings, that is not the edge I would say. Also his initial tighter stop is not the thing. Only when he says he is knowing the overall direction from the fundamentals, here the interest rates he said. So the main takeaway for any trader is, if you do some swing trading, you need to look at FTMO, then you need to build up your positions on floating profits by every day.
  • #8,907
  • Jun 30, 2022 4:32pm Jun 30, 2022 4:32pm
Regarding the 500K interview, I mostly skimmed through his explanations as it wasn't really necessary to pay much attention to in order to get the general gist of what he was trying to do.

Whether or not there is any legitimacy to what he is doing, or if it is mostly based on luck, is a different matter. I say that as a technical trader that does not give much attention to fundamentals. Some of the best strategies can be the most simple, regardless of how well you can articulate your reasoning.

If I had to pick something of value from the video that might be good to offer struggling traders, it would be his approach to use higher time-frames to gauge market direction, which is something that I always advocate. I also think that scaling into your position is much better than maxing out upfront with a single position in most cases.

Nobody should be fooled into thinking that this is responsible trading, though. I was a little bit surprised that he wasn't scalping.
  • #8,908
  • Jun 30, 2022 4:42pm Jun 30, 2022 4:42pm
The Prop Trading has a new site from today. And they have a pop up announcement:

Quote
Welcome to our New Website - 1 Jul 2022
The Prop Trading highly anticipated announcement!!!
Lot size limit - REMOVED - All New Funded Accounts
Trade ALL instruments available - including Oil and Stocks
Congratulations to our Trading Community!

This is really good news. I lost 2 funded accounts by mistake, because of this dammed rule that they had (5 lot max in funded 100K account during the first 3 months). It's easy to have 5 lots in one pair and misclick when I wanted to trade another pair.

Now they just need to get rid of that horrible payout google form that we need to fill in each time we request a payout, always with the same information, over and over again.

And they should clarify this dubious rule:
Quote
Trade copier is allowed if you are copying from your own external account to one of our TPT Evaluation Program or Funded accounts. If the same trades are placed manually or via copier on two or more accounts irrespective of the source, they may be identified as copies and violate our rules. Copy trading rules are based on the principle of risk diversification. In order to mitigate and manage our risk, our firm does not allow trades with the same exposure to be carried simultaneously in multiple accounts. After you pass Evaluation, you can merge...

I really like their automation. Credentials for phase 1 and 2 are immediate.
On payouts, as soon as we click to request a payout they deduct instantly the amount, void the past account and send new credentials by email immediately. All automatic.
And payments usually come 48 (business) hours after. They do payouts in crypto if we want ( between 4 and 10 USD gas fees deducted upfront)
No commissions but spreads are wide so it's expensive for those scalping.
Customer service is so bad, barely impossible to describe.

But this lot restrictions was, for me, their main flaw. I'm really glad they got rid of it.

Some time ago I made a review of these guys. It's pretty much updated, except the lot limitation thing.
  • #8,909
  • Jun 30, 2022 5:15pm Jun 30, 2022 5:15pm
Quoting Capablanca
The Prop Trading has a new site from today. ... No commissions but spreads are wide so it's expensive for those scalping. Customer service is so bad, barely impossible to describe. But this lot restrictions was, for me, their main flaw. I'm really glad they got rid of it. Some time ago I made a review of these guys. It's pretty much updated, except the lot limitation thing.
-Another important point to note about this firm is that they supposedly offer unlimited funding, so you could literally have 10x500K accounts, if you really wanted to, so long as you traded them separately. If the spreads are too wide for scalping, then that would be an important consideration for me; maybe not a deal-breaker, but something to think about.
  • #8,910
  • Jun 30, 2022 5:25pm Jun 30, 2022 5:25pm
Quoting Nsak3y
{quote}-Another important point to note about this firm is that they supposedly offer unlimited funding, so you could literally have 10x500K accounts, if you really wanted to, so long as you traded them separately. If the spreads are too wide for scalping, then that would be an important consideration for me; maybe not a deal-breaker, but something to think about.

Any thoughts on where this update ranks them in the top firms list?
Attached Image (click to enlarge)
Click to Enlarge Name: Prop ranks2.PNG Size: 22 KB
Plan your trade, trade your plan
  • #8,911
  • Jun 30, 2022 5:40pm Jun 30, 2022 5:40pm
TPT is a case of fool me once.... shame on you... fool me twice......
  • #8,912
  • Jun 30, 2022 10:23pm Jun 30, 2022 10:23pm
@takisd, what's your beef about Audacity?

Planning to take on their "Ability" Challenge after my failed Fundednext experiment.

Folks, I purposely blew out my "live account" with FN instead of trying to recover from my drawdown so I could get paid out before exiting their program as I wanted to originally do. Why? I could not stand trading on their regularly malfunctioning 8Cap platform anymore. Utter waste of time and effort!

Do you guys know that FN gave out free accounts to everyone who attended their Thailand meetup? Imo, it's just another big marketing gimmick. Some lucky ones will be allowed to pass; most are doomed to fail.
Amor Fati--F. Nietzsche
  • #8,913
  • Jun 30, 2022 11:06pm Jun 30, 2022 11:06pm
Quoting doji
@takisd, what's your beef about Audacity? Planning to take on their "Ability" Challenge after my failed Fundednext experiment. Folks, I purposely blew out my "live account" with FN instead of trying to recover from my drawdown so I could get paid out before exiting their program as I wanted to originally do. Why? I could not stand trading on their regularly malfunctioning 8Cap platform anymore. Utter waste of time and effort! Do you guys know that FN gave out free accounts to everyone who attended their Thailand meetup? Imo, it's just another big...
never knew they had a thailand meetup...and you just telling this now? LOL....too bad, would like to have a look at them first hand, 'in person'.
free acct or not.
there is always, always another trade!!
  • #8,914
  • Jul 1, 2022 12:35am Jul 1, 2022 12:35am
Quoting Capablanca
{quote} Ment is one of those firms where we don't have to spent much time analyzing, as soon as we see the magic words to discard it immediately: trailing drawdown. It's like Funded Trading Plus. I also wanted to test a new firm. I came to a short list of Finotive Funding, AbilityCapital (Audicity), Funded Next and Blue Guardian Capital. All of them with their flaws so I haven't really decided for any of them.


Funded Trading Plus is a tricky one, my thoughts:

Negatives:
1. Trailing drawdown
2. 30:1 leverage
3. Experienced Program target 10% profit, only 5% max drawdown

Positives:
1. Scaling plan - double account size up to 2.5M every 10% profit in Experienced program (IF it's true)
2. Trailing drawdown is based on end of day profit, not intraday (something I feel I can live with)
3. Only 1 stage evaluation on the experienced program

Overall there's a lot of factors but if the scaling plan is true I think it's worth a go. With proper risk management I can live with the 10% target and 5% drawdown with no time limit and the trailing drawdown which is based on end of day profits.
Plan your trade, trade your plan
  • #8,915
  • Jul 1, 2022 1:03am Jul 1, 2022 1:03am
Quoting Takisd
TPT is a case of fool me once.... shame on you... fool me twice......
For the sake of everyone, care to elaborate Takisd ?
TPT is the one where I had most number of payout and one of the most profitable prop to me so far (means nothing because Funding Talent was also very profitable to me).
I'm not taking sides for any prop and have zero connection with all of them. I'm just curious for your comment regarding TPT (and my opinion is that out of FTMO and MFF we will be navigating in shady waters)
  • #8,916
  • Jul 1, 2022 1:19am Jul 1, 2022 1:19am
Quoting symmtrytradr
Any thoughts on where this update ranks them in the top firms list?
-My thoughts are... I'm not sure. Currently, they seem to have a bit of a reputation. Maybe better to wait it out and see if things improve. Looks like they are making positive changes, so maybe time will tell. As far as scoring them using the formula and metrics used in that chart, you would have to ask the creator or someone here that has been following it closely.
  • #8,917
  • Jul 1, 2022 1:39am Jul 1, 2022 1:39am
Quoting doji
@takisd, what's your beef about Audacity? Planning to take on their "Ability" Challenge after my failed Fundednext experiment. Folks, I purposely blew out my "live account" with FN instead of trying to recover from my drawdown so I could get paid out before exiting their program as I wanted to originally do. Why? I could not stand trading on their regularly malfunctioning 8Cap platform anymore. Utter waste of time and effort! Do you guys know that FN gave out free accounts to everyone who attended their Thailand meetup? Imo, it's just another big...

I dont have a beef with them.. I just prefer not to do an interview and then pay to trade prop. To be honest, I dont know anyone who trades with them, I just remember the guys interview and he gave me bad vibes.

Fundednext is a scam you can see it a mile away, it probably would be worth an attempt at pulling some money from them but what i saw they did with their server was enough to say no thanks. I strongly recommend people dont use anyone who uses 8cap.
  • #8,918
  • Jul 1, 2022 1:41am Jul 1, 2022 1:41am
Quoting Capablanca
{quote} For the sake of everyone, care to elaborate Takisd ? TPT is the one where I had most number of payout and one of the most profitable prop to me so far (means nothing because Funding Talent was also very profitable to me). I'm not taking sides for any prop and have zero connection with all of them. I'm just curious for your comment regarding TPT (and my opinion is that out of FTMO and MFF we will be navigating in shady waters)

They sprung the rules of the lot size on people only once they passed. They blamed users when they got hacked.. Its just an awfully run company and they own that shit brokerage they used.

The trading conditions are ass and the support doesnt exist.

Unlimited capital? It almost feels like a pre-emptive rug pull. Stock up on users then run because you know you can't pay them.
  • #8,919
  • Jul 1, 2022 2:21am Jul 1, 2022 2:21am
Quoting profitfarmer
{quote} never knew they had a thailand meetup...and you just telling this now? LOL....too bad, would like to have a look at them first hand, 'in person'. free acct or not.
Sorry but I didn't think you'd be interested, Zoltan. When did you get back from your trip to Hungary?

Check out their socmed accounts (IG, FB, YouTube) if you want to find out more about the Thailand event.
Amor Fati--F. Nietzsche
  • #8,920
  • Jul 1, 2022 2:23am Jul 1, 2022 2:23am
Quoting Takisd
{quote} They sprung the rules of the lot size on people only once they passed. They blamed users when they got hacked.. Its just an awfully run company and they own that shit brokerage they used. The trading conditions are ass and the support doesnt exist. Unlimited capital? It almost feels like a pre-emptive rug pull. Stock up on users then run because you know you can't pay them.
The lot rule was there, clearly stated. I hated it but I knew it upfront which is better than an hidden rule. They state now that they're waving that. Let's see.

For hacking I can't remember that (I recall that TFF had some issues in the beginning). Anyway I doubt that I could ever be blamed as my trading style is just one or two trades a day and low lots.

Spreads are wide, yes, although this doesn't affect my swing trading style.

Own brokerage doesn't bother me. Never had a freeze with these guys in several months. I can't say the same when TFF was using ICMarkets demo server (it was a nightmare) or in old Nash from TFT. Btw I never had a freeze in E8cap, although I'm always be hit by slippage (the worse of all in my experience).

I agree that customer service in TPT is like talking to robots and I don't like the no limit of number of accounts. It's accumulating too much risk for a firm and half way for going downhill if the markets move widely and traders get lucky.
If that is a preparation for running away then Paypal is there to protect in some extent.
74 traders viewing now