Prop Firm Hub | Page 835 | 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

  • #16,681
  • Jun 14, 2023 12:25pm Jun 14, 2023 12:25pm
Quoting xenofreako
hey guys, has anyone tried Tradingfunds ? I have been prop trading for the last 3 months and used myfundedforex, ftmo and surgetrader but I recently saw an ad for these guys who seem to be pretty new but rules look nice. If not, which firms can you recommend which don't have a daily drawdown please!
-Looks similar to Traders With Edge. Probably the same white label/program, if I had to guess. There are some differences, however.

 

  1. Stop-loss required at 2% account balance, unless you pay an additional 20% to remove it.
  2. Lot consistency rule in place unless you use a stop-loss at 2% (no clear definition of what constitutes consistency, that I can see)
  3. Leverage is 1:10 at start, remains fixed at 1:5 for indices.
  4. Max draw-down trails until starting balance is reached, then becomes fixed.
  5. All trades shall remain open for a minimum of 30-seconds.


The no daily draw-down is nice, but the downsides are a bit heavy, in my opinion. There are other firms that offer programs with no daily, but there is always some heavy trade-off, understandably.

  • #16,682
  • Jun 14, 2023 1:14pm Jun 14, 2023 1:14pm
Quoting TraderTero
This was posted on one channel: {image}
Standard delaying technique of OFP funding, They rejected my 60K British pound profit. I have sent video proof of my trading style. They took 2 weeks to review and they judged current month trading to deny last month payouts. My payout was due on 20th of April


Thanks for your patience as we were kindly awaiting the final decision from an extensive investigation done on your trading account 12284332.

After rigorously going through the account mentioned our team placed your trades after the 20th of April 2023 within Live markets. You've placed over 150 trades within the past two weeks however only 65 trades were according to Live market conditions. This simply means that over 60% of your trades placed are not replicable within Live markets conditions and your trading history shows no clear trading style but that of gambling behavior.

Due to the reasons above and our terms and conditions section 5.6, 5.7, and 5.8 screenshot attached below our in-house trading team has deemed your trading as gambling and thus not replicable within live markets which means therefore means no payout shall be granted.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 72 KB
  • #16,683
  • Jun 14, 2023 1:44pm Jun 14, 2023 1:44pm
Quoting Nsak3y
{quote}-Who's channel?
t.me/propfirmsreviews
  • #16,684
  • Jun 14, 2023 1:51pm Jun 14, 2023 1:51pm
Quoting TraderTero
{quote} t.me/propfirmsreviews
Avoid such channels, they are there to make money via affiliate links. They will ban you from channels if you say and they don't like.
  • #16,685
  • Jun 14, 2023 1:55pm Jun 14, 2023 1:55pm
Quoting sampat
Avoid such channels, they are there to make money via affiliate links. They will ban you from channels if you say and they don't like.
-A good way to learn about new firms, probably. I've no patience for it, personally, however.
  • #16,686
  • Jun 14, 2023 2:12pm Jun 14, 2023 2:12pm
Quoting Nsak3y
{quote}-A good way to learn about new firms, probably. I've no patience for it, personally, however.
You can get some good info from them and also interact directly with some of the CEO's who are active participants.
  • #16,687
  • Jun 14, 2023 2:21pm Jun 14, 2023 2:21pm
Quoting TraderTero
{quote} You can get some good info from them and also interact directly with some of the CEO's who are active participants.
Problem with SCAM is you don't get information until you get scammed After getting burnt with Funding Talent, OFP, TPT I realized. Good scammers talk good and often make payouts.
  • #16,688
  • Jun 14, 2023 3:51pm Jun 14, 2023 3:51pm
If I was going to scam...............

I would be as loud as i can on twitter, then say I am taking some days off and disappear.
  • #16,689
  • Jun 14, 2023 3:58pm Jun 14, 2023 3:58pm
Quoting sampat
{quote} Standard delaying technique of OFP funding, They rejected my 60K British pound profit. I have sent video proof of my trading style. They took 2 weeks to review and they judged current month trading to deny last month payouts. My payout was due on 20th of April Thanks for your patience as we were kindly awaiting the final decision from an extensive investigation done on your trading account 12284332. After rigorously going through the account mentioned our team placed your trades after the 20th of April 2023 within Live markets. You've placed...
Scam, scam, scam. Get out while you can.
  • #16,690
  • Jun 14, 2023 4:53pm Jun 14, 2023 4:53pm
Quoting sampat
{quote} Standard delaying technique of OFP funding, They rejected my 60K British pound profit. I have sent video proof of my trading style. They took 2 weeks to review and they judged current month trading to deny last month payouts. My payout was due on 20th of April Thanks for your patience as we were kindly awaiting the final decision from an extensive investigation done on your trading account 12284332. After rigorously going through the account mentioned our team placed your trades after the 20th of April 2023 within Live markets. You've placed...

That is huge amount. You can go to a lawyer and sue them.
  • #16,691
  • Jun 14, 2023 6:57pm Jun 14, 2023 6:57pm
Quoting Eren10
{quote} That is huge amount. You can go to a lawyer and sue them.
Sue may lead to only deposit return since it is the only invested money.
  • #16,692
  • Jun 14, 2023 7:34pm Jun 14, 2023 7:34pm
Quoting Fagin
{quote} Rapid doesn't really return enough to make it worthwhile, for me anyway. Better options out there now with longer times to pass evaluations which has helped the rapid model along the dusty road of no return..
Thank you.
  • #16,693
  • Jun 14, 2023 7:38pm Jun 14, 2023 7:38pm
Quoting sampat
{quote} Sue may lead to only deposit return since it is the only invested money.
Any chance you'd post a statement with a list of trades? I really like to see what "no clear trading style but that of gambling behavior" looks like as described by the company after 2 weeks of analyzing the trades.

Only 150 trades. Won't be a long list. Let's learn something.
  • #16,694
  • Jun 14, 2023 8:47pm Jun 14, 2023 8:47pm
Quoting OutThere
I really like to see what "no clear trading style but that of gambling behavior" looks like as described by the company after 2 weeks of analyzing the trades.
-As traders, we cannot even agree on the definition of the word, so a prop firm claiming to have full understanding of something so subjective is a joke, really.

How long is a piece of string? I could easily say that if your win-rate is greater than 51%, then you are not gambling. Someone else could say that their win-rate is only 30%, but that their R:R ratio is significant enough to render that point moot.

If someone is trading 100 lots on every trade, but is winning 90% of the time, is that considered gambling? So what level of risk is not considered gambling, then? Volatility at New York open is too high, better not trade that, then.

Then there is the fact that market movement is dynamic and always changing, and so traders may trade differently depending on what the market is doing. I wonder, if I short the market today and then go long tomorrow, is my trading style not clear or inconsistent?

Then there is the fact that if a trader is trading the 5-minute chart, then his/her trades may not make any sense if someone is looking at the 1-hour chart. So much for clear and consistent trading.

In conclusion, any firm that that uses such language as "no clear trading style but that of gambling behavior" Is probably just trying to scam you.
  • #16,695
  • Jun 14, 2023 8:50pm Jun 14, 2023 8:50pm
Quoting Eren10
{quote} What instrument do you plan to trade? How many pips do you want to gain ?
I will be trading US30 with a target of at least 50pips per trade
  • #16,696
  • Jun 14, 2023 9:28pm Jun 14, 2023 9:28pm
Quoting Nsak3y
{quote}-As traders, we cannot even agree on the definition of the word, so a prop firm claiming to have full understanding of something so subjective is a joke, really. How long is a piece of string? I could easily say that if your win-rate is greater than 51%, then you are not gambling. Someone else could say that their win-rate is only 30%, but that their R:R ratio is significant enough to render that point moot. If someone is trading 100 lots on every trade, but is winning 90% of the time, is that considered gambling? So what level of risk is...
Yes, very good points. I agree with pretty much everything you say.

My point was that if by sharing the story of how the said company rejected the trader, an intelligent reaction to it is expected. RIGHT?
So, in order, as a reader to come up with a reasonable decision whether the company or the trader is right, it is reasonable to ask for the trade list to see if the trades were gambling or not. I mean if nothing else, for the sake of learning what ticks off a prop.
A definition of gambling (or not) could actually be made in this public forum (court ) based on evidence upon which a case was settled (by force).

I mean, really, we talk about topics like 'flow' and everyone knows really minute details about how flow works but do we know in real life what is deem-able as gambling?
  • #16,697
  • Jun 14, 2023 9:38pm Jun 14, 2023 9:38pm
I really like to understand what replicable means?
I feel kinda dumb how does the process of replicating go?
You certainly cannot go back in time and redo those trades to see if they catch. Another thing is that they did catch...in a demo already. So, they are complaining that the process to accept potential traders (proving to be a good trader in a demo) is not valid.
One possibility is that I'm guessing his trades are so large and so quick in and out that it's not copy-able in real life, so they can't make money from it and then pay him his share.
Or maybe each trade is the size of betting the farm. All or none. And it comes out of nowhere. No time to decide, just trust....oh, already said that

Any other guesses? Am I really off?
  • #16,698
  • Jun 14, 2023 9:46pm Jun 14, 2023 9:46pm
Playing devil's advocate....what would you do as a prop?
  • #16,699
  • Jun 14, 2023 9:50pm Jun 14, 2023 9:50pm
Quoting OutThere
I really like to understand what replicable means? I feel kinda dumb how does the process of replicating go? You certainly cannot go back in time and redo those trades to see if they catch. Another thing is that they did catch...in a demo already. So, they are complaining that the process to accept potential traders (proving to be a good trader in a demo) is not valid. One possibility is that I'm guessing his trades are so large and so quick in and out that it's not copy-able in real life, so they can't make money from it and then pay him his share....
OFP has lot of rules like you can't open and close trades within 2 minutes, lotsize consistency. Can't trade news etc etc. I was trading US30 and NQ. They have relative daily drawdown.
  • #16,700
  • Jun 14, 2023 10:10pm Jun 14, 2023 10:10pm
Quoting sampat
{quote} OFP has lot of rules like you can't open and close trades within 2 minutes, lotsize consistency. Can't trade news etc etc. I was trading US30 and NQ. They have relative daily drawdown.
Ok, so, in your search for suitable prop firms, you came across the list of (now disappointing) props that you posted as the best possible props?
I mean, nowadays, there are a ton of props that advertise 'no rules', any style, no lot size limit bla bla. There's gotta be something that works with (tolerates) your style.
228 traders viewing now