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  • #11,041
  • Sep 28, 2022 10:08am Sep 28, 2022 10:08am
Quoting TrAndy1
{quote} Why bother ? The prop firms offer of this challenge has a score below 1, so own compounding on your own personal account is more favorable. This is kind of fraud only.
i have no idea what that means. I was just looking for any traders who may have traded their money
  • #11,042
  • Sep 28, 2022 10:56am Sep 28, 2022 10:56am
Quoting NevFX
{quote} i have no idea what that means. I was just looking for any traders who may have traded their money
you may wanna read whats been written here in this forum by him and others on how to score one of these firms. hes basically saying dont waste your time.
  • #11,043
  • Sep 28, 2022 11:55am Sep 28, 2022 11:55am
Quoting hazelj80
{quote} you may wanna read whats been written here in this forum by him and others on how to score one of these firms. hes basically saying dont waste your time.
I have, and as I don't understand his workings out, I simply said/asked if anyone had bothered to trade with them.
  • #11,044
  • Edited 12:24pm Sep 28, 2022 12:08pm | Edited 12:24pm
Quoting NevFX
I simply said/asked if anyone had bothered to trade with them.
-Probably, you have your answer already. If you wait longer, maybe the answer will be the same. I have not heard anything about them nor recall anyone mentioning them here.
  • #11,045
  • Sep 28, 2022 12:26pm Sep 28, 2022 12:26pm
Quoting NevFX
{quote} I have, and as I don't understand his workings out, I simply said/asked if anyone had bothered to trade with them.
I doubt anyone from here would trade with them as the score <1 means that trading the challenge fee on your own account brings you higher profit
Money is made by sitting, not trading
  • #11,046
  • Sep 28, 2022 1:07pm Sep 28, 2022 1:07pm
Quoting Bizziebee
Bad news for BGC https://www.youtube.com/watch?v=9ItbHc-gTJo
Ouch, I have a challenge with them. Sounds that it's a waste of time.

From that videos' comments:
@THE XEN TRADER hey man thank you for your feedback. I passed phase 1 & 2 too, 7 days ago and still did not get my credentials for the funded account. How did you make them give your money back?
I have the same exact problem with their message “management will get back to you”
  • #11,047
  • Sep 28, 2022 1:09pm Sep 28, 2022 1:09pm
Quoting NevFX
{quote} I have, and as I don't understand his workings out, I simply said/asked if anyone had bothered to trade with them.
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This ranks all of the firms based on what you pay in fee vs. what you get as max loss. It takes into account the target vs. DD and compares against trading the "fee" and compounding on your own. The value demonstrates how much more you get with the firm vs. trading on your own. In other words, a value of 10 means for every $1,000 invested and meeting targets vs. DD allowed you have $10K DD, or 10x what you would have trading on your own and hitting same %, whereas a value under 1 simply means you are paying more to the firm than what you are receiving. With that being said, only 6 of these firms meet all of the criteria of great value, good trading conditions, payout proof with no issues and no tricky rules. Tier 1 would be MFF and FTMO, Tier 2 would be The Funded Trader, True Forex Funds, The Prop Trading and E8.
  • #11,048
  • Sep 28, 2022 1:40pm Sep 28, 2022 1:40pm
From TFF Discord. This is good.

We are happy to announce you our new features:
- Payouts
- Certificates
From Thursday (29th September) you can request your first payout through our dashboard which should be more comfortable for our traders than the previous version of the profit request. You will have the option to grow your future with True Forex Funds by receiving a new Challenge instead of your refundable fee or even you can set a rollover to your new funded account.
You can access your future Certificates on your dashboard, passed, payouts, and even milestones! We'd like to see everyone crossing our Elite milestone! Please note, certificates starting from today will be accessible under the Certificate menu.
We are working on delivering direct crypto wallet payouts instead of Deel-to-crypto payouts.
Please stay tuned! A lot of new things are coming!
Have a great trading week!
  • #11,049
  • Sep 28, 2022 1:45pm Sep 28, 2022 1:45pm
From TFTP Discord:

The following changes will be live on October 1st
Standard Challenge Changes:
- Payouts processing time changed from 3 days to 2 days
- Time between phase 1 -> phase 2 changed from 36 hours to 24 hours
- Minimum trading days changed from 5 days to 3 days
- Drawdown Calculation changed from Balance to Equity or Balance
- $25k Standard Challenge Account Available
These changes will ONLY affect challenges purchased AFTER October 1!
We look forward to bringing these improvements and enhancements which will improve our communities experience and TFT's long term vision


I don't understand how you can discriminate old customers with 3 days payouts, while new customers get 2 days. Don't they realize how bad that sounds ?
The same happened in TPT when they removed the lot size. It was just for new accounts, not for the old ones.

And 2 days it's still bad for an improvement when several companies are allowing traders to go on trading as soon as they request the payout (or almost).
  • #11,050
  • Sep 28, 2022 2:50pm Sep 28, 2022 2:50pm
Updated
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  • #11,051
  • Sep 28, 2022 2:51pm Sep 28, 2022 2:51pm
Quoting Nsak3y
{quote}-Probably, you have your answer already. If you wait longer, maybe the answer will be the same. I have not heard anything about them nor recall anyone mentioning them here.
thank you, FF seems devoid of them entirely. I am happy to move on.
  • #11,052
  • Sep 28, 2022 3:01pm Sep 28, 2022 3:01pm
Quoting pipmaster77
{quote} {image}This ranks all of the firms based on what you pay in fee vs. what you get as max loss. It takes into account the target vs. DD and compares against trading the "fee" and compounding on your own. The value demonstrates how much more you get with the firm vs. trading on your own. In other words, a value of 10 means for every $1,000 invested and meeting targets vs. DD allowed you have $10K DD, or 10x what you would have trading on your own and hitting same %, whereas a value under 1 simply means you are paying more to the firm than what...
After reading pages 400-450, I have a better understanding of what TrAndy1 created. It doesn't appear to work when I construct my own sheet using the equation. It's my bad math skills and poor Excel knowledge that are to blame. While I am interested in being more of a quant when it comes to evaluating online retail prop firms, trading other people's money and getting the extras that a real prop firm offers aren't part of this evaluation. It seems that the only way for someone like me to get to the firms I am interested in trading for is to pass the challenges and build a track record. That's what I'm going to do or I'm going to start my own prop shop and offer traders what I would want in a firm.
  • #11,053
  • Sep 28, 2022 3:06pm Sep 28, 2022 3:06pm
Quoting NevFX
{quote} After reading pages 400-450, I have a better understanding of what TrAndy1 created. It doesn't appear to work when I construct my own sheet using the equation. It's my bad math skills and poor Excel knowledge that are to blame. While I am interested in being more of a quant when it comes to evaluating online retail prop firms, trading other people's money and getting the extras that a real prop firm offers aren't part of this evaluation. It seems that the only way for someone like me to get to the firms I am interested in trading for is...
The score is simply the value in multiple times what you get from the prop firm when you pay the challenge fee. A score below 1 just means you give them something like a $100 note and get back only a $50 note. Now you see it is a bad business. Such offers can only be considered as scam, because it is better to trade your own personal account and do your compounding of your gains there. In the last few pages I also put in the exact Excel formula for the score, which you can copy and paste.
  • #11,054
  • Sep 28, 2022 3:24pm Sep 28, 2022 3:24pm
Quoting NevFX
{quote} After reading pages 400-450, I have a better understanding of what TrAndy1 created. It doesn't appear to work when I construct my own sheet using the equation. It's my bad math skills and poor Excel knowledge that are to blame. While I am interested in being more of a quant when it comes to evaluating online retail prop firms, trading other people's money and getting the extras that a real prop firm offers aren't part of this evaluation. It seems that the only way for someone like me to get to the firms I am interested in trading for is...
The props you are looking to trade with require a degree and various forms of licensing. You more than likely need to trade at their physical location (not remote). You will need to follow their strategies as opposed to your own. At best, you get a 20-25% split. More power to you, but when comparing walking 10 steps from my bedroom to office, not needing any licenses and getting an 80-90% split, this is a no brainer for me.
  • #11,055
  • Sep 28, 2022 3:28pm Sep 28, 2022 3:28pm
Quoting pipmaster77
{quote} The props you are looking to trade with require a degree and various forms of licensing. You more than likely need to trade at their physical location (not remote). You will need to follow their strategies as opposed to your own. At best, you get a 20-25% split. More power to you, but when comparing walking 10 steps from my bedroom to office, not needing any licenses and getting an 80-90% split, this is a no brainer for me.
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my excel SS doesn't like the equation

=(C6*D6)/((2,71828^((E6+F6)/(C6/B6)))*(G6*(1-H6)*1))
, sorry

though it does like =(C6*D6)/((2.71828^((E6+F6)/(C6/B6)))*(G6*(1-H6)*1))
  • #11,056
  • Sep 28, 2022 3:31pm Sep 28, 2022 3:31pm
Quoting pipmaster77
{quote} The props you are looking to trade with require a degree and various forms of licensing. You more than likely need to trade at their physical location (not remote). You will need to follow their strategies as opposed to your own. At best, you get a 20-25% split. More power to you, but when comparing walking 10 steps from my bedroom to office, not needing any licenses and getting an 80-90% split, this is a no brainer for me.
No, not entirely true but I get your sentiment.
  • #11,057
  • Sep 28, 2022 3:50pm Sep 28, 2022 3:50pm
Quoting Capablanca
From TFTP Discord: The following changes will be live on October 1st Standard Challenge Changes: - Payouts processing time changed from 3 days to 2 days - Time between phase 1 -> phase 2 changed from 36 hours to 24 hours - Minimum trading days changed from 5 days to 3 days - Drawdown Calculation changed from Balance to Equity or Balance - $25k Standard Challenge Account Available These changes will ONLY affect challenges purchased AFTER October 1! We look forward to bringing these improvements and enhancements which will improve...
Its marketing and sales pitch. They want new signups thats why, TPT did same thing when they remove lot restriction.
  • #11,058
  • Sep 28, 2022 4:21pm Sep 28, 2022 4:21pm
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Having past 3 assessments with 3 retail prop firms and including the costs and benefits as I see them, does this ranking make sense?
  • #11,059
  • Sep 28, 2022 9:18pm Sep 28, 2022 9:18pm
Quoting NevFX
{quote} After reading pages 400-450, I have a better understanding of what TrAndy1 created. It doesn't appear to work when I construct my own sheet using the equation. It's my bad math skills and poor Excel knowledge that are to blame. While I am interested in being more of a quant when it comes to evaluating online retail prop firms, trading other people's money and getting the extras that a real prop firm offers aren't part of this evaluation. It seems that the only way for someone like me to get to the firms I am interested in trading for is...

What do you want in a prop firm?
  • #11,060
  • Sep 29, 2022 2:15am Sep 29, 2022 2:15am
Quoting OutThere
{quote} What do you want in a prop firm?
Essentially a collaborative team environment, a risk manager, and being in a room/virtual space with really clever people
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