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Anyone trading with a Prop firm 31 replies

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  • #19,121
  • Aug 28, 2023 4:36pm Aug 28, 2023 4:36pm
Quoting labu
{quote} For those curious about futures prop firms be careful as with any investment i'll requote what someone once said and which I noticed is true as well. Real live account: Firm makes money on profit splits so they will encourage withdrawals, the bigger the better for them. BluSky.pro, Apteros, E2T, etc... Livesim account: Firm makes money on subscription fees, reset fees and activation fees, they will generally delay or discourage big withdrawals with some antics. Example : Leeloo, Apex Trader Funding, Bulenox, TickTIckTrader, etc... Also Apex...
Yeah some of them are sketchy for sure. I had my AMP account before trading prop. I gave up prop at one point and went full on Ninjatrader. There’s a steep learning curve that I couldn’t stomach so went back to what I was comfortable with.

Went back to prop CFD’s and used that to fund the AMP margin account.
Trade with confidence, trade without fear.
  • #19,122
  • Aug 28, 2023 4:36pm Aug 28, 2023 4:36pm
Quoting genuine007
so as you can see clearly in this pic i was able to made 380 $ profit on live account just 1 day after i got the account but gave back all to the market, and also went into drawdown and during this phase i also lost my 5k live account of my forex funds without first payout and refund which give me learning that... you need to be very patient for your 1st payout and refund so i patiently work on this account even without any greed that i made 380 $ in just 2 days that i want the same money back kind of attitude or thinking.. so as you can its almost...
Stop thinking about your trades in dollar amounts.

Think about winning pips by patiently following your system with flawless risk management.
Pride always comes before destruction.... -Proverbs 16:18
  • #19,123
  • Aug 28, 2023 4:47pm Aug 28, 2023 4:47pm
Quoting Expo33
{quote} Stop thinking about your trades in dollar amounts. Think about winning pips by patiently following your system with flawless risk management.
as we used to say back in poker days : disregard currency, acquire chips
  • #19,124
  • Aug 28, 2023 5:02pm Aug 28, 2023 5:02pm
The prop industry seems super confused right now. Everyone talking about a war, but the soldiers are sloppy illiterate children. Is it a digimon battle? Are they going to throw pogs at each other?

Most good business owners just do a good job and stay in their lane. They don't go out in public and try to ejaculate their ego on everyone by declaring war on an invisible enemy like the neighborhood homeless skitzo.
  • #19,125
  • Aug 28, 2023 6:25pm Aug 28, 2023 6:25pm
FXIFY Passed phase 1 .

10 % done.

Today is completion of 5 th day.
Attached Image (click to enlarge)
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Intraday only.
  • #19,126
  • Aug 28, 2023 11:12pm Aug 28, 2023 11:12pm
Do you guys think E8 will disappear next year? They are providing 20% discount.
  • #19,127
  • Aug 29, 2023 1:15am Aug 29, 2023 1:15am
Quoting LehmanBrotha
Is there an instant funding type acc that is not a scam that gives you less than your money as max drawdown? not looking to use one, just curious
As far as I know Finotive has 100K instant funding with static DD of 8% and they charge 2.100 USD. So, they are providing 8.000 x 80% for 2.100 USD.

They have other problems, though (tight rules and reputation not great).
  • #19,128
  • Aug 29, 2023 2:15am Aug 29, 2023 2:15am
It is nice to see my name in Leader board.. in myfundedfx.

Though it is 410 th place..

Yeah.. there is reason. I am just 3 trading days old in the funded account 100k.

I guess others can see only upto 10 th place.

When I come in top ten.. I will inform you guys.
Intraday only.
  • #19,129
  • Edited 3:54am Aug 29, 2023 3:01am | Edited 3:54am
Quoting Boulder
{quote} Since I don't trade indices. Enlighten me a little, how is better to trade Eur future 6E1! comparing to EurUSd?
1 Forex lot = 100,000, 1 futures contract = 125,000... about 200-250 futures contracts (25-30M) can be traded in futures (UK/US session) 1 level deep in order book. 2 major differences 1. You can't do .01-.10 in futures, however there are smaller mini & micro contracts in EUR & JPY futures. 2. The contracts do expire and require rolling to the next available contract before EXP (irrelevant to day traders).
  • #19,130
  • Edited 6:52am Aug 29, 2023 3:14am | Edited 6:52am
Quoting Capablanca
{quote} And the trailing DD sucks so it's basically useless
Apex is the most popular online futures prop right now, blowing past Topstep & forcing them to completely change all their rules. So far they have a good rep of paying.

It's a 1 step unlimited challenge with no daily limit. 50K evals are 1:1.2 DD vs target. The trailing scales up to +5% then stops trailing, from there it's similar to trading in a private account... +20%, risk the entire 20% the next day.

You can have up to 20 50K accounts (1M funding & 50K drawdown). 1st 25K profit = 100% yours, >25K 90%/10% split.

They routinely have 50K challenges available 80%/90% off @ $16/$34 cost per. If you pass the 1 step unlimited challenge, there is a $140 one time activation fee per account alternative to ongoing subscription fee.

Cons... for those that don't use TP exits, the intraday equity based trailing until +5% could be a pain in the ass. There is no fee refund. You can't withdraw until +2.5K (+5%) & withdrawals are limited to 2K (+4%) 2x per month per account the 1st 3 payout months.

I would not touch the other 2 online futures props in the top 3 (Top Step & Earn 2 Trade), but Apex on 80/90% deep discount is a bit interesting @ $156/174 (eval + activation fee) per 2.5K in initial drawdown (14.4/16.0x cost)
  • #19,131
  • Aug 29, 2023 4:14am Aug 29, 2023 4:14am
I need to find a prop firm that allow to use also options on S&P500, is sufficient also to close all the trade intraday.

Do you remember an hi quality one that offer options trading?

thank you
in holiday till end of November
  • #19,132
  • Aug 29, 2023 5:17am Aug 29, 2023 5:17am
Quoting CableJ
{quote} Apex is the most popular online futures prop right now, blowing past Topstep & forcing them to completely change all their rules. So far they have a good rep of paying. It's a 1 step unlimited challenge with no daily limit. 50K evals are 1:1.2 DD vs target. The trailing scales up to +5% then stops trailing, from there it's similar to trading in a private account... +20%, risk the entire 20% the next day. You can have up to 20 50K accounts (1M funding & 50K drawdown). 1st 25K profit = 100% yours, >25K 90%/10% split. They routinely have 50K...
To 100% reiterate what CableJ said, Apex is the best, no question.

To correct something CableJ said. The maximum funding is actually 6 million USD. Breaks down as 20x 300K Accounts.
  • #19,133
  • Edited 7:16am Aug 29, 2023 7:05am | Edited 7:16am
Quoting Dirac
{quote} To 100% reiterate what CableJ said, Apex is the best, no question. To correct something CableJ said. The maximum funding is actually 6 million USD. Breaks down as 20x 300K Accounts.
Correct, but if I was to go the futures prop route, I would stick to 50K challenges (50K x 20). >50K challenges have unattractive target vs DD ratios >=1.5 and are harder to pass.
  • #19,134
  • Aug 29, 2023 7:08am Aug 29, 2023 7:08am
Quoting CableJ
{quote} Apex is the most popular online futures prop right now, blowing past Topstep & forcing them to completely change all their rules. So far they have a good rep of paying. It's a 1 step unlimited challenge with no daily limit. 50K evals are 1:1.2 DD vs target. The trailing scales up to +5% then stops trailing, from there it's similar to trading in a private account... +20%, risk the entire 20% the next day. You can have up to 20 50K accounts (1M funding & 50K drawdown). 1st 25K profit = 100% yours, >25K 90%/10% split. They routinely have 50K...
Many thanks for the detailed explanation Cable. I'll have a look into Apex. You're working with them and receive some payouts already ?

Regarding Earn2Trade let me add, for non US people, that they demand some bureaucracy in terms of taxes which other props don't have. W-8BEN is pretty standard but they also demand FTIN. And when I looked into them some years ago we would have to fill some tax forms, even being excepted.
https://help.earn2trade.com/en/artic...ill-get-funded
  • #19,135
  • Aug 29, 2023 7:40am Aug 29, 2023 7:40am
Quoting Capablanca
{quote} Many thanks for the detailed explanation Cable. I'll have a look into Apex. You're working with them and receive some payouts already ?

I know a couple traders on that side of the prop space, and their experience has been good so far.

Some more info...

I believe Duplikum can copy mt4 to ninjatrader & trading view futures brokers, there are also a few mt4 to ninja local bridges available. Lastly, there are ninja internal copiers (Apex investing & Flowbots) that can manage multiple futures prop accounts as well as personal futures account.
  • #19,136
  • Edited 9:51am Aug 29, 2023 9:33am | Edited 9:51am
Quoting CableJ
{quote} Apex is the most popular online futures prop right now, blowing past Topstep & forcing them to completely change all their rules. So far they have a good rep of paying. It's a 1 step unlimited challenge with no daily limit. 50K evals are 1:1.2 DD vs target. The trailing scales up to +5% then stops trailing, from there it's similar to trading in a private account... +20%, risk the entire 20% the next day. You can have up to 20 50K accounts (1M funding & 50K drawdown). 1st 25K profit = 100% yours, >25K 90%/10% split. They routinely have 50K...
Apex is not good at all compared with forex prop firms.
1. Trailing drawdown. A trailing drawdown makes it 3 times more likely to blow up your account than a fixed drawdown, which is industry norm.In another forum I watch some traders posted their journey for Apex challenges and when they blow up their accounts, their accounts are actually in decent profit if they play MFF challenges.
2. Monthly fee, exchange fee and activation fee. Compared with MFF, activation fee alone is equal to MFF's fee for 50K challenge.Futures prop firms' challenge fee are monthly fee, so it is not unlimited time since you can't pass in a month you have to pay another fee.And once you pass you need to pay a monthly exchange fee.
3. Higher profit target .
No refund of fee if you pass challenges.And if you get funded you have to make some amount of money before you can withdraw.
  • #19,137
  • Aug 29, 2023 9:43am Aug 29, 2023 9:43am
On this news spike, I did take longs in GBP USD at lows and set TP at 1.2600 for a possible sipke.

And it did spike as expected.

The TP i set 1.2600 in MFF, myfundedfx, FXIFI mt 4 platforms.

WHile myfundedfx and FXIFY hit the TP easily, MFF took time...there was slippage but finally hit TP.

My observation :

MFF there is slippge during news events.

Other two.. no slippage.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 18 KB
Intraday only.
  • #19,138
  • Aug 29, 2023 9:49am Aug 29, 2023 9:49am
Quoting wmwmw
{quote} Apex is not good at all compared with forex prop firms. 1. Trailing drawdown. A trailing drawdown makes it 3 times more likely to blow up your account than a fixed drawdown, which is industry norm.In another forum I watch some traders posted their journey for Apex challenges and when they blow up their accounts, their accounts are actually in decent profit if they play MFF challenges. 2. Monthly fee, exchange fee and activation fee. Compared with MFF, activation fee alone is equal to MFF's fee at same drowdown.Futures prop firms' challenge...
No offense but Apex is designed for people that can actually trade and are consistently profitable. Your bullet points are unlikely to worry a consistently profitable trader. 99% of retail traders can't trade for one reason or another, Apex is not looking for those individuals.
  • #19,139
  • Aug 29, 2023 9:59am Aug 29, 2023 9:59am
Quoting CableJ
{quote} Apex is the most popular online futures prop right now, blowing past Topstep & forcing them to completely change all their rules. So far they have a good rep of paying. It's a 1 step unlimited challenge with no daily limit. 50K evals are 1:1.2 DD vs target. The trailing scales up to +5% then stops trailing, from there it's similar to trading in a private account... +20%, risk the entire 20% the next day. You can have up to 20 50K accounts (1M funding & 50K drawdown). 1st 25K profit = 100% yours, >25K 90%/10% split. They routinely have 50K...
So, if I understood correctly, assuming the 50K account which seems indeed the best option, we pay:

- 167 USD (assuming we pass in one month and don't need to pay a second month)
- 140 USD one-off to activate the funded account (or 85/month while the funded account is active)
- Total 307 USD

We need to achieve 6% with a trailing DD of 5% (which stops at 50K)

If we pass the challenge (1 step) it means that in exchange of 307 USD we get a 50K account with a trailing DD of 2.500 USD.

Sounds interesting, despite the other constrains of minimum and maximum withdraw. I think one can work out something profitable around these parameters.
  • #19,140
  • Aug 29, 2023 10:21am Aug 29, 2023 10:21am
Why Traders Fail Prop Firm Challenges (+ How to Pass)
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