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  • #16,261
  • Jun 1, 2023 6:26pm Jun 1, 2023 6:26pm
Jessica is back
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  • #16,262
  • Jun 1, 2023 7:24pm Jun 1, 2023 7:24pm
Quoting pipmaster77
My humble opinion, if you wish to start with the lowest financial commitment possible........use the firms with the promo on the 10K, your value will be in line with a 100K......if you can get a 10K for $50 or less. Compond refunded fees and profits to purchase 100K accounts.
-I agree. And as you say, use the profits to purchase the bigger accounts. The only exception to this is if you could:

1. Indefinitely purchase the smaller accounts at the same or lower cost as the bigger accounts, once all is said and done.
2. Eliminate the additional costs required for copying trades over.

In most cases, the special deals will be short-lived, so your overall costs for going smaller will be significantly more, and, the monthly cost for a trade copier will become considerable since you will likely need to rely on a cloud-based copier and be able to support 60-100 accounts. Maybe there are cheaper, more practical ways to do this, but I am not aware of any.

I cannot imagine paying someone 12k+ per year just to automatically copy my trades over. I remember making that much working a full-time job at one point, many years ago. The cost is totally unreasonable, even if you can afford it.
  • #16,263
  • Jun 1, 2023 8:26pm Jun 1, 2023 8:26pm
I like to discuss this:
https://www.forexfactory.com/thread/...9#post14439249

How can a prop firm accept and fund and payout a trader in 10hours?

I know that we have previously discussed how we think funding companies do or do not trade a participant's signals after they have passed. I remember there wasn't any real conclusions because everybody was just guessing how it works. I think most people think that the funding companies just live off fees from the failed traders and pay cash to few who actually turn a profit.

So, in this case, if the firm actually copied the trader's signal and made $800 or whatever and the 500something is the trader's cut OR, just for the sake of advertising, they paid the trader that much, so they can show off to the net et al for a low fee of 500something?. In the case of the latter, it is really sad to pretend they actually traded the guy\s account when everyone knows/thinks that is not how it works...or is it? Are there folks who know/think this trader\s account was actually traded in real? Maybe even the whole thing is made up. Who can trust these firms and their claims anyway?
  • #16,264
  • Jun 1, 2023 8:51pm Jun 1, 2023 8:51pm
Quoting OutThere
I like to discuss this: https://www.forexfactory.com/thread/...9#post14439249 How can a prop firm accept and fund and payout a trader in 10hours?….

Maybe even the whole thing is made up. Who can trust these firms and their claims anyway?
If it’s for real then it’s unsustainable. Funding Talent blew up on that model.

Very well could be BS marketing.
Trade with confidence, trade without fear.
  • #16,265
  • Jun 1, 2023 9:23pm Jun 1, 2023 9:23pm
Quoting Cryptosurf
{quote} If it’s for real then it’s unsustainable. Funding Talent blew up on that model. Very well could be BS marketing.
It's like a move to grab as many hopeful wannabe traders as possible with a lure.
But again, there are traders that freaking do that very quick in and out trades with pretty large size lots and make huge amounts, day in, day out and they would love an instant paychk within hours scheme. So, maybe they are actually going after best of the best...in which case, who could blame them? The faster the trader is in and out, the faster the company gets paid. That is if they actually trade for real.
  • #16,266
  • Jun 1, 2023 9:33pm Jun 1, 2023 9:33pm
Easy thing to do is just wait for a while and see what happens. If still around and paying out after some time, then maybe it is a viable model. Personally, I doubt that it is.

But in truth, it does not really matter much. Traders should probably be dumping a portion of their profits into their own, personal accounts anyway. There, you can withdraw whenever you like, without the restrictions that are often imposed by firms. The only downside is that most unregulated brokers have crypto-only, which can be difficult to work with if your bank prohibits all crypto-related activity.
  • #16,267
  • Jun 1, 2023 9:42pm Jun 1, 2023 9:42pm
Quoting OutThere
When is a good time to buy a challenge and a good time to to enter the market? -
//----

good question...... one that i have given much thought......

for most of us, possibly a good time to try the challenge would be a good time to enter the market..... on the daily timeframe.....

such as, if your a trend trader perhaps wait for a new daily trend signal change...... tsr.......

if your a relative strength trader, maybe begin the challenge when the daily qqe crossed the 50.....

a momentum trader might wait for the ao or macd to cross the 0 line.....

the daily signals should give you 2 or 3 hundred pips to work with......

my small lot size will be the biggest negative for me.....h
//----

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to trade and code, keep both simple... no call to impress....h
  • #16,268
  • Jun 1, 2023 10:06pm Jun 1, 2023 10:06pm
Quoting hayseed
{quote} //---- good question...... one that i have given much thought...... for most of us, possibly a good time to try the challenge would be a good time to enter the market..... on the daily timeframe..... such as, if your a trend trader perhaps wait for a new daily trend signal change...... tsr....... if your a relative strength trader, maybe begin the challenge when the daily qqe crossed the 50..... a momentum trader might wait for the ao or macd to cross the 0 line..... the daily signals should give you 2 or 3 hundred pips to work with.........
See, very good, you recognise that is a real question to consider. Today, first of the month, would be a logical start day. But it would have been a bad day I think for a a first day starting a challenge. I agree with all those points that you mentioned but what it tells me is that you are trying to get a headstart...a good footing right off the bat. That brings about the 'planning' of your moves. I know you are a planner, so co-ordinating your indicator within your trading plan is part of your recommendation, I take it.
I just suddenly feel so disorganized.
  • #16,269
  • Jun 2, 2023 12:31am Jun 2, 2023 12:31am
Quoting OutThere
I like to discuss this: https://www.forexfactory.com/thread/...9#post14439249 How can a prop firm accept and fund and payout a trader in 10hours? I know that we have previously discussed how we think funding companies do or do not trade a participant's signals after they have passed. I remember there wasn't any real conclusions because everybody was just guessing how it works. I think most people think that the funding companies just live off fees from the failed traders and pay cash to few who actually turn a profit. So, in...
the 10 hrs is measured since the funded account was assigned. The Evaluation phase is not included
FXIFY allows traders to request a first payout anytime so if you make profit by a first trade within a few minutes you can request it. 10 hrs is than basically the length of the payout process
Money is made by sitting, not trading
  • #16,270
  • Jun 2, 2023 1:08am Jun 2, 2023 1:08am
Quoting OutThere
I like to discuss this: https://www.forexfactory.com/thread/...9#post14439249 How can a prop firm accept and fund and payout a trader in 10hours? I know that we have previously discussed how we think funding companies do or do not trade a participant's signals after they have passed. I remember there wasn't any real conclusions because everybody was just guessing how it works. I think most people think that the funding companies just live off fees from the failed traders and pay cash to few who actually turn a profit. So, in...
"Traders can request a withdrawal of profits in their trader dashboard .The first withdrawal can be requested on demand(24 hours after placing your first trade) and then every 30 days. For example if you make profits on day one in your live account you can request a withdrawal. Traders can also upgrade to bi-weekly payouts at the checkout stage."

I think it's marketing, presenting something different, although it will have a lot of impact both because traders may be tempted to achieve a big payout on first day to avoid waiting another 30 days and also because they pay the refund in this early payout.
  • #16,271
  • Jun 2, 2023 6:50am Jun 2, 2023 6:50am
Quoting OutThere
you are trying to get a headstart...a good footing right off the bat. That brings about the 'planning' of your moves. I know you are a planner, so co-ordinating your indicator within your trading plan is part of your recommendation,
//-----

that is correct....... priscilla always waits for favorable weather before hanging out the wash...... she can hang it out in the rain, but for some reason it does not work as well......

it's almost counter productive to talk about trading because no 2 of us trade the same...... but for me, planning is the key..... it gives me confidence......

would like to know where every indicator stood on every pair from 5 to the 10080..... would like to see those results in a side by side comparison grouped by currency.....

the light might be green, but adhering to the 5 principles of the smith driving plan can avoid a accident.......h
//-----
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to trade and code, keep both simple... no call to impress....h
  • #16,272
  • Jun 2, 2023 7:22am Jun 2, 2023 7:22am
Quoting OutThere
{quote} See, very good, you recognise that is a real question to consider. Today, first of the month, would be a logical start day. But it would have been a bad day I think for a a first day starting a challenge. I agree with all those points that you mentioned but what it tells me is that you are trying to get a headstart...a good footing right off the bat. That brings about the 'planning' of your moves. I know you are a planner, so co-ordinating your indicator within your trading plan is part of your recommendation, I take it. I just suddenly...
That is advantage day traders have. If u work your system way that you trade within Eu-Us session and always close trades at the end of day, until you lock some really good profit to carry trade overnight, every day is like different story and u can trade stress free. And as discussed in previous posts you do not need 100k account, 2-3 10k accounts is enough to grab profits when you spot setup.

Example from my other account yesterday, buy trade taken to close the gap on us30, profit locked account waiting for next withdrawal, one trade and move to another account. Would u be able to stop trading while having one 100k account after booking some profit?? What if market turns against u and you loose your profits from previous days on large account?? Here I got profits booked and no need to worry about what happen next. As Nsak3y said is all about preference and personal approach but to be honest if u day trade is no much benefit of having 100k instead of few smaller accounts.
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  • #16,273
  • Jun 2, 2023 10:00am Jun 2, 2023 10:00am
I've been looking at using Funded Trading Plus who have some rave reviews etc on Trustpilot. However my main concern as a scalper is how quick their platform is etc, they use Eightcap and sent me a demo account to trial. It was fine this morning, but this afternoon its been totally untradable as it keeps pausing for several seconds then the price jumps around. Even when I change charts it delays it for several seconds plus if I try to move the cursor around my screen it pauses , so its not just the price action thats pausing.

Has anyone else experienced this on Eightcap broker?? They are used regularly by prop firms so wandered if it was normal ? As a scalper its practically impossible to trade. I wandered if it was my computer causing the issue but other brokers MT4s are working fine, so can only assume its a diliberate ploy to make you fail their trials....

Is there a decent proc firm that plays it fair and uses another broker than Eightcap?

Your thoughts would be appreciatted.
Feel the Fear and do it anyway!!!
  • #16,274
  • Jun 2, 2023 10:04am Jun 2, 2023 10:04am
Heres a link to their demonstration demo account if anyone is interested enough to download it and let me know if they are experiencing the same issues as me I'd appreciate it...Its the MT4 version so you need to click on the MT4 version for correct log in detailks etc.

https://www.fundedtradingplus.com/platform-demo/

Many thanks Clive
Feel the Fear and do it anyway!!!
  • #16,275
  • Jun 2, 2023 10:15am Jun 2, 2023 10:15am
Quoting clivepackham
I've been looking at using Funded Trading Plus who have some rave reviews etc on Trustpilot. However my main concern as a scalper is how quick their platform is etc, they use Eightcap and sent me a demo account to trial. It was fine this morning, but this afternoon its been totally untradable as it keeps pausing for several seconds then the price jumps around. Even when I change charts it delays it for several seconds plus if I try to move the cursor around my screen it pauses , so its not just the price action thats pausing. Has anyone else experienced...
I won't trade any firm that uses 8crap. Explained here: https://www.forexfactory.com/thread/...4#post14438314
Trade with confidence, trade without fear.
  • #16,276
  • Jun 2, 2023 10:40am Jun 2, 2023 10:40am
Quoting Cryptosurf
{quote} I won't trade any firm that uses 8crap. Explained here: https://www.forexfactory.com/thread/...4#post14438314
Thanks for the info appreciate it, so are you saying that the prop firms control their own platforms and are deliberately doing this? If they are genuinely looking for good traders why would they shoot them down in flames with this corrupted platform? It was so slow even changing charts so how does that help their cause??

Or are they just doing it to deter scalpers?? I guess if youre a daily chart trader or even 15 min plus youre not too worried about getting in a few seconds later...

Do you know of a genuine prop firm that is actually treating wanna be traders fairly and giving them a fair chance of success with a decent platform to trade on? in particular a 1 minute scalper like myself??

Much appreciate your input..
Feel the Fear and do it anyway!!!
  • #16,277
  • Jun 2, 2023 10:51am Jun 2, 2023 10:51am
Quoting clivepackham
{quote} Thanks for the info appreciate it, so are you saying that the prop firms control their own platforms and are deliberately doing this? If they are genuinely looking for good traders why would they shoot them down in flames with this corrupted platform? It was so slow even changing charts so how does that help their cause?? Or are they just doing it to deter scalpers?? I guess if youre a daily chart trader or even 15 min plus youre not too worried about getting in a few seconds later... Do you know of a genuine prop firm that is actually treating...
Apparently 8cap offers white label solutions for those who want to run their own prop firm. Part of that solution is the ability to manipulate trade conditions, slippage, etc.

Im sticking with FTMO and MFF. They have always been good for me.
Trade with confidence, trade without fear.
  • #16,278
  • Jun 2, 2023 10:53am Jun 2, 2023 10:53am
Quoting Cryptosurf
{quote} Apparently 8cap offers white label solutions for those who want to run their own prop firm. Part of that solution is the ability to manipulate trade conditions, slippage, etc. Im sticking with FTMO and MFF. They have always been good for me.
Which broker do FTMO and MFF use? Are they happy with scalpers? Have you had any problems with their platforms like pausing, slipping etc??
Feel the Fear and do it anyway!!!
  • #16,279
  • Jun 2, 2023 11:16am Jun 2, 2023 11:16am
Quoting clivepackham
{quote} Thanks for the info appreciate it, so are you saying that the prop firms control their own platforms and are deliberately doing this? If they are genuinely looking for good traders why would they shoot them down in flames with this corrupted platform? It was so slow even changing charts so how does that help their cause?? Or are they just doing it to deter scalpers?? I guess if youre a daily chart trader or even 15 min plus youre not too worried about getting in a few seconds later... Do you know of a genuine prop firm that is actually treating...
IMO props are not genuinely looking for good traders. Good traders are a problem they have to handle. They would love to have their business with a 100% losing traders. It would be the paradise.

Re your question I think you will have trouble to find a good prop for scalpers and if you find one better to be afraid because a low slippage + tight spreads + low commissions are exposed to many abuses that can kick companies out of the market.

Can you give an example of what would be a good thing to you in EURUSD in termos of spread, slippage and commission ? And how many lots do you usually trade ? This may help people to recommend based in experience.
The firm where I feel the least slippage and better spreads is TFF, for example. But they have a 7$ commission per lot which I guess is too heavy for a scalper.
  • #16,280
  • Jun 2, 2023 11:35am Jun 2, 2023 11:35am
Quoting Capablanca
{quote} IMO props are not genuinely looking for good traders. Good traders are a problem they have to handle. They would love to have their business with a 100% losing traders. It would be the paradise. Re your question I think you will have trouble to find a good prop for scalpers and if you find one better to be afraid because a low slippage + tight spreads + low commissions are exposed to many abuses that can kick companies out of the market. Can you give an example of what would be a good thing to you in EURUSD in termos of spread, slippage...
Hi

I'm a 1 minute scalper most of my trades last 2 or 3 minutes max. Trade size would be 1 to 5 lots as looking for a $100,000 account so not too bother about reasonable commission. I trade Indices basically Dax, Nasdaq or Dow with spreads usually fixed at 1 pip but happy up to 2 max. To be honest the most important thing to me is speed of execution and as little slippage as possible like all scalpers.

If anyone knows of a prop firm using a reliable broker for scalping please let me know...

All the best Clive
Feel the Fear and do it anyway!!!
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