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  • #12,901
  • Edited 10:08am Dec 10, 2022 9:42am | Edited 10:08am
Quoting Nsak3y
{quote}-I agree, but it is also important to consider and discuss future possibilities because it can help in determining what to look out for so that we can prepare and plan accordingly. Just like any business or investment, you must consider future (and external) potentials, not only as a way to gauge value, but also risk. That being said, when looking at the future of remote props, perhaps we may see a decline over time. This will likely come in the form of less-desirable offerings (more rules, longer terms etc.), thus resulting in fewer participants....
I completely agree on these points, but none of us has any knowledge to analyze who will survive and who will not.
Not a single post in the past about the possible failure of TPT and why.
All firms are relatively new and not having much experience except FTMO.
In fact MFF are the ones to give best offering. 12 % loss limit. Still they are ok until now.
My point is let us take the current situation as it is and make most out of them.
If we try to analyze, it mat not yield correct result and on the other hand we may start looking at every firm negatively.
Intraday only.
  • #12,902
  • Dec 10, 2022 10:00am Dec 10, 2022 10:00am
Quoting Takisd
Its a prolonged period of lowered revenues. Not because of less traders, quite the contrary, but because its been far easier to make money this year and if you are operating a b-book model or dont have correct risk experience, you are on a tight thread.
-This is a very interesting statement. On the flip-side, I am fairly confident that some firms are doing nothing but collecting fees and praying (or laughing).

We already know that firms like MFF have other revenue streams (or methods), even in the way of instant funding. And although instant funding is not so great for traders, comparatively-speaking, it's usually a safe bet for firms so long as the model is structured well.
  • #12,903
  • Dec 10, 2022 10:00am Dec 10, 2022 10:00am
Quoting pipmaster77
It is not a matter of if, but when the regulation steps in. Hopefully, with the bigger firms, it is already a predetermined next move.
-When I spoke with MFF about some of their legal stuff early on, I was told that they had a legal team that worked to ensure that there were no compliance issues or otherwise, and that everything was above board. What that truly entails, or to what extent, is impossible to know for sure.
  • #12,904
  • Edited 10:13am Dec 10, 2022 10:03am | Edited 10:13am
Quoting navk
I completely agree on these points, but none of us has any knowledge to analyze who will survive and who will not.
-But that is not really true, though. There are many things that we can look at to see not only how these firms are being managed, but how likely they are to remain long-term should they continue as-is.

Quoting navk
Not a single post in the past about the possible failure of this firm and why.
-In fact, comments have been made not only about their unrealistic trading conditions (and the likelihood that they will not be able to sustain it), but also about their past rule changes and recent, 'hidden rules' that resulted in a payout refusal, as well as their discord-banning behavior etc.. There have been a number of things spoken about this firm that would raise red flags.

Quoting navk
My point is let us take the current situation as it is and make most out of them. If we try to analyze, it mat not yield correct result and on the other hand we may start looking at every firm negatively.
-You are free to do that. But for me, I prefer to analyze and be prepared. It does not mean that I will view everything negatively. It just means that I will view things pragmatically so that I am aware of the potential pitfalls and dangers, as well as the opportunity.

The old saying goes, 'it is better to be safe, than sorry'. Just like, do you refuse to look outside to see if it is going to rain because you are afraid of being wrong or too negative... no, you look outside and if it looks like it might rain, you grab your umbrella.
  • #12,905
  • Dec 10, 2022 12:13pm Dec 10, 2022 12:13pm
Quoting navk
Passed phase 1 of yet another challenge today. This is third challenge. Other two are funded accounts. {image}
Hey navk really very good performance!! Can you tell me how much risk do you take per trade and how many trades do you take in average per Day? Thanks in advance
  • #12,906
  • Dec 10, 2022 7:30pm Dec 10, 2022 7:30pm
Quoting Elyes
{quote} Hey navk really very good performance!! Can you tell me how much risk do you take per trade and how many trades do you take in average per Day? Thanks in advance
hi,

My method is dollar cost averaging method.

Meaning, I add trades...0.2...0.25 like that.

However the total lot size will not exceed 5 to 6 lots for 100k account. This is appicable to challenge account and not funded account.

Funded account, i go with max 3 lots at any time.

For challenge account, i allow 2k max as floating loss for each basket of trades.

Having said, with my system, I see max... 1.5k floating loss. When dd goes above 2k, i play cautiously. When dd crosses 2.5k, I am out.

It means, max dd per lot is 0.4 to 0.5 %

Atleast 2 baskets, I trade like this per day.

Then lots of mini baskets... inwhich if i earn 100 to 150 dollars..i am out, happy.
Intraday only.
  • #12,907
  • Dec 11, 2022 2:45am Dec 11, 2022 2:45am
I like MyFF.

Next week I plan to start an eval with FundedNext.

Both Prop firms use a third party international payroll system (Deel) to distribute payouts, which in my opinion adds to legitimacy and also simplifies things for me to diversify my income sources.
  • #12,908
  • Dec 11, 2022 2:52am Dec 11, 2022 2:52am
Quoting benaiah
I like MyFF. Next week I plan to start an eval with FundedNext. Both Prop firms use a third party international payroll system (Deel) to distribute payouts, which in my opinion adds to legitimacy and also simplifies things for me to diversify my income sources.
Just a note: Deel is not a legitimacy stamp IMO. Funding Talent also used it.
  • #12,909
  • Dec 11, 2022 2:54am Dec 11, 2022 2:54am
Quoting Capablanca
{quote} Just a note: Deel is not a legitimacy stamp IMO. Funding Talent also used it.
why not legitimacy stamp?

it is international and used my many companies to process payroll

a 3rd party solution that pays you is legitimate. You don’t have to wonder if or when you will get paid
  • #12,910
  • Edited 3:10am Dec 11, 2022 2:58am | Edited 3:10am
Quoting Capablanca
{quote} Just a note: Deel is not a legitimacy stamp IMO. Funding Talent also used it.

Ok I wasn’t familiar with funding talent. I see their business failed which can happen to any business.

however I didn’t say it was the only thing to consider when choosing a prop firm. I actually have many criterion and have used multiple prop firms in the past, and learned a lot about what to avoid.

edit: I do appreciate your comment. It emphasizes the need to diversify. I will probably eventually trade with 3-4 prop firms.
  • #12,911
  • Dec 11, 2022 2:59am Dec 11, 2022 2:59am
hi i have a request for first withdrawal about 4,500$ from TFF's 100k$ account on 9th Dec, I have confirmed contract with deel when it is announced on 10th Dec, will it be after the groves in the past 2 days will they pay me next Monday? What do you guys think about their credibility and the high probability that I get paid?
  • #12,912
  • Dec 11, 2022 3:42am Dec 11, 2022 3:42am
Quoting Masterrmind
PROP FIRM HUB…
Thanks for starting this topic. A lot of useful information here…
  • #12,913
  • Dec 11, 2022 5:57am Dec 11, 2022 5:57am
Deel just direct debits and pays. It holds no liability, and it is not a legitimacy stamp. Nor is a broker relationship where you pay per user - Like eightcap.

More legitimacy is seen from investment infrastructure than vendor deals.
  • #12,914
  • Dec 11, 2022 6:31am Dec 11, 2022 6:31am
Quoting Takisd
Deel just direct debits and pays. It holds no liability, and it is not a legitimacy stamp. Nor is a broker relationship where you pay per user - Like eightcap. More legitimacy is seen from investment infrastructure than vendor deals.
ok.
  • #12,915
  • Dec 11, 2022 7:20am Dec 11, 2022 7:20am
Quoting benaiah
{quote} ok.
and don't forget, these duplicate initiatives are forbidden:
- with the broker 1 account long and the other short (risk-free trading),
- at FF double memberships
  • #12,916
  • Dec 11, 2022 7:34am Dec 11, 2022 7:34am
Quoting Isabella_D
{quote} and don't forget, these duplicate initiatives are forbidden: - with the broker 1 account long and the other short (risk-free trading), - ...
This is a strategy used by people that don't know what they're doing.
  • #12,917
  • Dec 11, 2022 9:08am Dec 11, 2022 9:08am
Found this in twitter, dated of October, but could not verify if it's legitim (from FTMO)
Attached Image (click to enlarge)
Click to Enlarge Name: ftmo.jpeg Size: 134 KB
  • #12,918
  • Dec 11, 2022 9:58am Dec 11, 2022 9:58am
Quoting Capablanca
Found this in twitter, dated of October, but could not verify if it's legitim (from FTMO) {image}
If this is the case, this needs to be in the SIGNED CONTRACT. The rules are 5% daily and 10% max loss, period. I have NOTHING in my contract stating 1% risk per "trade". The 5%er's have that rule, guess what......it's in the Ts & Cs....you know it upfront. Probably why smart traders do not use the 5%ers.
These companies cannot continue to change the rules on the fly.......it's absolute bullshit. Everything is fine when they have an influx of failed challenges, once they have "good" traders, which I believe is what their marketing states they are looking for than they want to change rules not pay.
This is so blatantly obvious that there is ABSOLUTELY ZERO trades being copied.
***The above rant is all based on Johnny from Twitter above being factual.
  • #12,919
  • Dec 11, 2022 12:13pm Dec 11, 2022 12:13pm
why this prop firm money earning from one firm is not permanent ?

1) Any time violation of loss limits or rules by traders
2) Anytime crossing the risk parameters by firms themselves
3) The nature of business itself.

so, what is the solution ?

If a trader earns from a firm for 1 year..that is good enough period.

Diversify the investment with different firms.

Add good enough numbers of firms in the list...

5 firms at a time.

Never feel tired in doing new challenges,


No guarantee to state the rules and trading conditions will remain same ... the firms will revise in order for them to survive
Intraday only.
  • #12,920
  • Dec 11, 2022 12:16pm Dec 11, 2022 12:16pm
Quoting Capablanca
Found this in twitter, dated of October, but could not verify if it's legitim (from FTMO) {image}

A few people I know got similar last month. However, I trade there above 1% risk and have no problems. But I do not trade much and I haven't traded almost at all in December.
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