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Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

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  • #16,281
  • Jun 2, 2023 11:39am Jun 2, 2023 11:39am
Quoting clivepackham
{quote}If anyone knows of a prop firm using a reliable broker for scalping please let me know... All the best Clive
FTMO and MFF all day long.
Trade with confidence, trade without fear.
  • #16,282
  • Jun 2, 2023 2:11pm Jun 2, 2023 2:11pm
Quoting Capablanca
{quote} "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...
Sure this is marketing, they have to differentiate somehow from all the other prop firms and this is not so bad way of doing it. But I don't care so much about their first payout (you can choose 14 days via add-ons anyway) but rather about their scaling plan and more relaxed trading rules. They are also quite friendly, active and supportive on their Discord (I know they are new but as an example - they arranged their server registration with Duplikium within literally a few minutes and I'm definitely the only one among their traders who uses it)

Btw. I am funded with them, KYC via Sumsub, contract via Deel, all within one business day. Will keep you posted
Money is made by sitting, not trading
  • #16,283
  • Jun 2, 2023 5:26pm Jun 2, 2023 5:26pm
Quoting Cryptosurf
{quote} FTMO and MFF all day long.
Maybe handy if you name the broker(s)
  • #16,284
  • Jun 2, 2023 5:32pm Jun 2, 2023 5:32pm
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...
Eightcap is a nightmare.


The CEO Simon promised me a refund after a bad review on Trustpilot,So i removed it.
I have seen more bad reviews disappear so i wonder if .....
  • #16,285
  • Jun 2, 2023 5:58pm Jun 2, 2023 5:58pm
Quoting wansiman
{quote} Maybe handy if you name the broker(s)
They have their own feed. MFF, FTMO, TFF, the 5%ers, E8, 5 of the 6 largest have their own feed, only exception is TFTP. MFF and FTMO are giants compared to the others.
  • #16,286
  • Jun 2, 2023 7:37pm Jun 2, 2023 7:37pm
Quoting hayseed
{quote} //----- 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...
Very good. Can't argue against anything that you say except mentioning a fact that 'needing to plan' is probably a personality trait and as such easier for some than others.
  • #16,287
  • Edited 8:48pm Jun 2, 2023 7:48pm | Edited 8:48pm
Quoting youngD
{quote} 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...
Someone wrote that they don't even know how to use an EA and they trade all manually.
I admire manual traders but I got a taste of robot trading early on and there was no going back.
If I manual trade, it is probably in a demo and/or testing the validity of a system or accuracy of an indicator and such, again in demo and for the purpose of automating it if it works.

It is weird that people can't wait until autonomous automobiles finally figure out being 100% safe, so they can do whatever they want while the car drives them around but when it comes to trading, people like to sit behind the wheel and strain their eyes with the oncoming headlights like that is the only way to drive.
  • #16,288
  • Jun 2, 2023 7:51pm Jun 2, 2023 7:51pm
I opened a couple 8cap demos. It is workable. Seems a bit rambunctious...how do I explain that?...
It is like FXCM feed. Enough said. lol
  • #16,289
  • Jun 2, 2023 8:18pm Jun 2, 2023 8:18pm
Quoting Capablanca
IMO props are not genuinely looking for good traders.
-Yeah, except for one that can hit 100k in a month so that they can use it to market themselves and bait all of the newbies that are dreaming about having lambos... but that's it! Absolutely never again after that!
  • #16,290
  • Jun 2, 2023 8:34pm Jun 2, 2023 8:34pm
Quoting OutThere
It is weird that people can't wait until autonomous automobiles finally figure out being 100% safe, so they can do whatever they want while the car drives them around but when it comes to trading, people like to sit behind the wheel and strain their eyes with the oncoming headlights like that is the only way to drive.
-I suspect that most traders understand that any really good EA is going to be difficult (or impossible) to get their hands on, and anything less than really good is going to require a lot of work and babysitting anyway. Limited access to other good resources may also be an issue.

I could be wrong, but if such a unicorn exists, then we would probably be hearing a lot by now about the mad success of the trader with the Rumpelstiltskin EA.

Personally, I can be done with my manual trading in a few minutes each day. I also like to have flexibility with my trading, and it is difficult to program discernment. Maybe that will change with AI advancement.
  • #16,291
  • Jun 2, 2023 8:43pm Jun 2, 2023 8:43pm
Quoting hayseed
{quote} //----- 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...
You know, I was thinking about how to incorporate 'planning' in the works of an EA. I mean, it seems like when planning is involved, it requires a a really smart, responsible and intuitive human being to use all their intellectual facilities to basically foresee the future and carve a niche space to position themselves favourably.

But then I realized that an average EA basically does all that already. For example, lets say an EA is based on color change of TSR. If you randomly deploy it, it does nothing until a color change occurs. So, it planned it's own deployment and did it correctly according to plan. Right?
  • #16,292
  • Jun 2, 2023 8:56pm Jun 2, 2023 8:56pm
Quoting Nsak3y
{quote}-I suspect that most traders understand that any really good EA is going to be difficult (or impossible) to get their hands on, and anything less than really good is going to require a lot of work and babysitting anyway. Limited access to other good resources may also be an issue. I could be wrong, but if such a unicorn exists, then we would probably be hearing a lot by now about the mad success of the trader with the Rumpelstiltskin EA. Personally, I can be done with my manual trading in a few minutes each day. I also like to have flexibility...
You'd be surprised that such EAs exist. Actually you hinted that they are there but expensive. I see them in FX competitions. A lot of times same name wins multiple competitions for top prize and with so many trades, it's definitely an EA that is doing the trading. Now you might say well obviously it is a high risk EA and gets used many times until it gets on a streak etc but, the only reason that we SEE the existence of such EAs was because they were used in public competitions and left a footprint of trades with their associated stats. Who knows who is quietly using these EAs with their own funds albeit more conservatively than the competition traders.
Just saying that because you don't have such EA or haven't seen results of them, it doesn't mean they don't exist.
  • #16,293
  • Jun 2, 2023 9:20pm Jun 2, 2023 9:20pm
Quoting OutThere
A lot of times same name wins multiple competitions for top prize and with so many trades, it's definitely an EA that is doing the trading.
-Well, to be fair, having a lot of trades does not necessarily mean that an EA was used. During recent testing for a new prop, I made 8154 trades over 24 days without even pushing because I use many small positions.

Quoting OutThere
Just saying that because you don't have such EA or haven't seen results of them, it doesn't mean they don't exist.
-I do not think that they do not exist, I just think that if such a great one existed that regular people could actually get their hands on, then we would probably have heard something about it.
  • #16,294
  • Jun 2, 2023 9:56pm Jun 2, 2023 9:56pm
Quoting OutThere
But then I realized that an average EA basically does all that already. For example, lets say an EA is based on color change of TSR. If you randomly deploy it, it does nothing until a color change occurs. So, it planned it's own deployment and did it correctly according to plan. Right?
//-----

yes, that is how the average ea supposed to work.... not sure how many of those will work.....

dashboard type indicators can be far more effective..... if trading daily and weekly signals there is no need for a ea..... the entire trading plan can be in a single easy to visualize dashboard..... my preference is to include alerts and push notifications, which just tell me what to do.....
//-----

started the evaluation with mff..... reasonable plan is to make 500$ a day....

simple signals are bbands breaks, psar breaks and peytons indicator..... few more complex signals also..... but just common sense..... no hocus pocus.....

below are day one results.....h
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Attached Image (click to enlarge)
Click to Enlarge Name: day 1.jpg Size: 185 KB


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btw, did you know kubota has a 50 year special deal on tractors...... that's in my plan......
to trade and code, keep both simple... no call to impress....h
  • #16,295
  • Jun 2, 2023 10:12pm Jun 2, 2023 10:12pm
Quoting hayseed
{quote} //----- yes, that is how the average ea supposed to work.... not sure how many of those will work..... dashboard type indicators can be far more effective..... if trading daily and weekly signals there is no need for a ea..... the entire trading plan can be in a single easy to visualize dashboard..... my preference is to include alerts and push notifications, which just tell me what to do..... //----- started the evaluation with mff..... reasonable plan is to make 500$ a day.... simple signals are bbands breaks, psar breaks and peytons indicator........
Well, you deserve to live eternally for your the time scope of your plans.

Since peytons indicator came up, I was going to ask you something and this is as good as any place..

The peytons indicator isn't really a good 'exit by opposite signal' indicator. Correct? It seems to highlight a cycle between each red/green line. The cycles resemble arcs up and arcs down...the pattern is kind of similar to smile and frown lines. So, what exit strategy you recommend to go with it? guessing z
  • #16,296
  • Jun 2, 2023 10:32pm Jun 2, 2023 10:32pm
Quoting Nsak3y
{quote}-Well, to be fair, having a lot of trades does not necessarily mean that an EA was used. During recent testing for a new prop, I made 8154 trades over 24 days without even pushing because I use many small positions. {quote}-I do not think that they do not exist, I just think that if such a great one existed that regular people could actually get their hands on, then we would probably have heard something about it.
I don't really follow those competitions any more but that particular one I think was a specific ea championship contest.
Anyways, I did a google search and there were some staggering gains on fxblue contest but I'm sure there are other venues too.
  • #16,297
  • Jun 2, 2023 11:09pm Jun 2, 2023 11:09pm
Quoting OutThere
The peytons indicator isn't really a good 'exit by opposite signal' indicator. Correct?
//----

your absolutely correct..... that is a common weakness on many indicators...... much of the prices movement is consumed in creating the opposing signal ....

my exits here in this challenge will be 50 pips from the lowest sell or 50 pips from the highest buy...... no matter the entry signal.....

50 pips is nothing more than a reasonable daily atr percentage on most pairs...... 30 pips on eurgbp...... it takes about 10 mini lot trades making 50 pips to achieve 500$ a day.....

in normal day oanda trading where there is no time limits, exits are often based on new zigzag leg...... such as if selling the 240, once a 240 down leg prints, shorts are closed...... daily and weekly obviously pay better but they take much longer.....

there is nothing wrong with having a accountprofit() target....... such as if account profit is 1000$ close all.......

that's probably my favorite exit......h
to trade and code, keep both simple... no call to impress....h
  • #16,298
  • Jun 2, 2023 11:31pm Jun 2, 2023 11:31pm
Quoting hayseed
{quote} //---- your absolutely correct..... that is a common weakness on many indicators...... much of the prices movement is consumed in creating the opposing signal .... my exits here in this challenge will be 50 pips from the lowest sell or 50 pips from the highest buy...... no matter the entry signal..... 50 pips is nothing more than a reasonable daily atr percentage on most pairs...... 30 pips on eurgbp...... it takes about 10 mini lot trades making 50 pips to achieve 500$ a day..... in normal day oanda trading where there is no time limits,...
I have this image of your trading as a 45 degree angle with not much in the way of dips save a wrinkle here and there and the green closely following the black.
So you have a time limit at mff? 3 months? I think trust is more important to you than time span. I am certain you have ample time. There is definitely a correlation between safety of funds and %gain. One who can maximize both, has it figured out.
  • #16,299
  • Jun 3, 2023 2:52am Jun 3, 2023 2:52am
Quoting OutThere
{quote} Someone wrote that they don't even know how to use an EA and they trade all manually. I admire manual traders but I got a taste of robot trading early on and there was no going back. If I manual trade, it is probably in a demo and/or testing the validity of a system or accuracy of an indicator and such, again in demo and for the purpose of automating it if it works. It is weird that people can't wait until autonomous automobiles finally figure out being 100% safe, so they can do whatever they want while the car drives them around but when...

I hired programmer years ago to make 2 eas, still have it somewhere. It was based on heiken ashi plus some advance MM features. But after some time I realized that instead of optimalization and working with Ea it was easier just catch one good swing on daily/ weekly chart and grab 20-30 % profit, same money EA will earn during that time. Actually less work with manual because it takes few minutes. But now i am day trading and never looked back since few years, not chasing new indis Eas no need for this. All I need is some volatility (us30 for example) and do not need any extra tools anymore. Off course one important aspect is psychology, if someone get involved too much in emotional trading EA can help, but it don't affect me that much anymore. When I got worse time I just try to suck less and make less mistakes.
  • #16,300
  • Edited 3:37am Jun 3, 2023 2:58am | Edited 3:37am
Until trader do not know how to deal with psycho / emotional aspect of trading with proper risk management in line any wonderful strategy EA will help. This is the key, and with all be rich in month prop firms agenda it is even more important nowadays.

https://www.youtube.com/live/4y0QX5NUSuQ?feature=share

Some interesting video about how to find your balance in trading, spot your best, worst and balanced trading game
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