Prop Firm Hub | Page 1056 | 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

  • #21,101
  • Sep 7, 2023 10:49pm Sep 7, 2023 10:49pm
10k live account back to initial balance
after taking a loss of around 487
its feels good when you come above from drawdown
Attached Image (click to enlarge)
Click to Enlarge Name: back to initial balance.jpg Size: 126 KB
  • #21,102
  • Sep 7, 2023 11:28pm Sep 7, 2023 11:28pm
Quoting genuine007
10k live account back to initial balance after taking a loss of around 487 its feels good when you come above from drawdown {image}
Being rewarded for revenge trading is a curse in disguise
Pride always comes before destruction.... -Proverbs 16:18
  • #21,103
  • Sep 7, 2023 11:45pm Sep 7, 2023 11:45pm
Quoting Expo33
{quote} Being rewarded for revenge trading is a curse in disguise
no no its not revenge trading.. i made a plan to come to break even to initial balance in 22 days or 11 days or 8 days
and if you see in the image which is not accurate always i don't know how tff calculate daily profit made or daily loss made, don't go with the picture
if my 1 entry is 0.27 lot and i lost 150 and 7 entries for 0.48 lot i lost 274 [but in reality i lost 487 in just 1 day together]
then when my entries got right 10 entries for 1.66 lots i got 299 profit [0.27 base lot x 10 = 2.70 lot which is actually greater than my entered lot]
may be i am not good at telling what i am telling right now
but hope you understand
  • #21,104
  • Sep 8, 2023 12:08am Sep 8, 2023 12:08am
it might be a silly question and you might think that you are doing prop trading from 2-3 months now and you still don't know this.
what i noticed that all prop firms dashboard show things wrong.. especially with true forex funds.. they show daily profit always wrong..
in my previous image you can see that on sep 7, it is showing that i made a profit of 299, but in reality i made a profit of 191 only
then from where it adds the extra 100 ??
and today at the time of posting the image.. sep 8, it is showing that i made a profit of 130 $, but in reality i made a profit of 155 today

well now my question is realetd to loss and daily loss limit
suppose we have a running loss from last 2 days and it is running at 165$
and we have max daily loss limit is 400 $, this example is related to "smart prop trader"
so now my latest fresh day max loss limit is still 400 $ means remaining 235 $ from 165 $
or i have 400 + 165 = 565 $ loss limit

well to be safe i consider it to only 400$ whether or not your current loss is from past days plus we have to consider the negative swap charges as well
and especially on tuesday and thursday, the swap charges are charged 2 to 3 times more..
  • #21,105
  • Sep 8, 2023 12:19am Sep 8, 2023 12:19am
Quoting Zebi
{quote} those idiots forget covid started under trump...it was his mandate and his lockdown of the country and his giving away money to people but its hard to reason those people LOL https://uploads.dailydot.com/2020/09...r=2:1&fit=crop https://www.dailydot.com/debug/pence...economy-covid/
NEITHER of these two major parties care about you or your rights or the Constitution they swear an oath to obey (and then egregiously violate).
But back to trading and prop firms, for as long as we are allowed...
  • #21,106
  • Edited 12:53am Sep 8, 2023 12:41am | Edited 12:53am
What a good day today with the early bird. I made $12k profits on my funded accounts. Also on my hedge fund account I could realize 4% profits today.
  • #21,107
  • Sep 8, 2023 1:22am Sep 8, 2023 1:22am
Quoting OutThere
Why you guys have such a hard time being consistent?
Because they ask consistency on the trading style, which is absurd. A good trader is not going to show that consistency because if he does he will bust.

You don't the trade the same way if VIX is 14 or if that is 27, do you ?
You don't trade the same way if you think the market is ranging or if you think it is trending, right ?

And all this had influence in the number of lots you trade, the number of profit / loss pips you take as TP/SL, etc.

A good trader will never have trading style consistency if he wants to have consistency in his profits.

We should run away from any prop having such a rule.
  • #21,108
  • Sep 8, 2023 1:25am Sep 8, 2023 1:25am
Quoting OutThere
{quote} It's like saying when you drive a car, you can't help going fast on downhills and going slow on uphills.
The best analogy is that you don't drive the same you with heavy rain or with a very sunny day.
You are not consistent in speed, distance from the next vehicle, etc., right ?
Imagine that some country demands that you have consistency in driving, no matter the weather conditions. It would be silly, right ? The same with props.
  • #21,109
  • Sep 8, 2023 1:27am Sep 8, 2023 1:27am
Quoting OutThere
{quote} I tried to deposit into my real account using a CC but rejected. CC claimed I was buying Crypto. I tried another card and went tru no problem. I can't believe that particular CC sniffs transactions and decides what you are going to do with your money or not. I wonder if I pre deposited the amount into my CC, so it is my cash, they still would block it.
Some CCs have list of authorized and not authorized things (I think it's based in the code of the vendor).

I saw that in Deel. They process props payouts but their card didn't allow me to purchase a MFF and a TFT challenge when I tried.
  • #21,110
  • Sep 8, 2023 1:36am Sep 8, 2023 1:36am
Quoting navk
hey guys, Some firms ask /allow cryptos as fee payment. I never done this. I want to open a crypto account with cheap fees. My intention is to just pay the fees from this account. Anyone can suggest pls. Thanks.
Just a note Navk. I never paid challenges with crypto because I think riskier. If you are screwed by a prop there is no chargeback possible, like in credit card or paypal.

I have received, though, a lot of crypto withdraws, using always self custody wallets. Then I would move either to Binance or Kraken and exchange it.

Unfortunately, our beloved regulators are trying to protect me the most they can and Binance is a pain to get wires from so I'm just using Kraken. Kraken is, so far, a decent exchange. Don't know how much they charge for crytpto payment, though.
  • #21,111
  • Sep 8, 2023 1:41am Sep 8, 2023 1:41am
EX Goldman Sachs FX Prop Trader is sharing his story (in Germany so you need to autotranslate it).
Inserted Video

Inserted Video
  • #21,112
  • Sep 8, 2023 1:47am Sep 8, 2023 1:47am
Quoting Capablanca
{quote} The best analogy is that you don't drive the same you with heavy rain or with a very sunny day. You are not consistent in speed, distance from the next vehicle, etc., right ? Imagine that some country demands that you have consistency in driving, no matter the weather conditions. It would be silly, right ? The same with props.
Ok, so you extended my analogy and found some holes in it. Very good.
But, in real trading, you'd have the view of the past in your rearview mirror and ahead of you, there is no road to be seen. It appears as you see it.
You could be seconds, minutes, hours before edge of a cliff and everything looks rosy other than maybe a bump or two on the road (as going over them).

Of course there are the expected sharp turns on the road with plenty of signage like nfp or chair speech, int rates, other reports/events that kind of maybe could go either way. Even those events have strategies specific to them.

So, there you go. Have you ever attempted to drive a car blindfolded, save the view in rearview mirror?
  • #21,113
  • Sep 8, 2023 1:50am Sep 8, 2023 1:50am
Inserted Video

Inserted Video
  • #21,114
  • Sep 8, 2023 1:53am Sep 8, 2023 1:53am
Quoting OutThere
{quote} Ok, so you extended my analogy and found some holes in it. Very good. But, in real trading, you'd have the view of the past in your rearview mirror and ahead of you, there is no road to be seen. It appears as you see it. You could be seconds, minutes, hours before edge of a cliff and everything looks rosy other than maybe a bump or two on the road (as going over them). Of course there are the expected sharp turns on the road with plenty of signage like nfp or chair speech, int rates, other reports/events that kind of maybe could go either...
No point in complicating arguments.

If you are convinced (and right) that the market is trending a simple moving average will make money.
If you are convinced (and right) that the market is ranging a simple oscillator will do the job

The R/R on the first may be something like 1/5 with maybe 30% success rate.
The R/R on the second one may be something like 1/1 or lower and 60% or more success rate.

The risk amount (traded lots) and size of TP/SLs will be very different.

How can they ask for consistency in the trading style if we need to change and adapt to market conditions that we perceive ?
  • #21,115
  • Sep 8, 2023 1:58am Sep 8, 2023 1:58am
Quoting Capablanca
{quote} Some CCs have list of authorized and not authorized things (I think it's based in the code of the vendor). I saw that in Deel. They process props payouts but their card didn't allow me to purchase a MFF and a TFT challenge when I tried.
The screening used to be to make sure you as the owner of the card are actually the person who just handled a large amount using the card. It rejects, you call them, they verify your identity and ask if it was you placing the transaction. You say yes, they release the transaction.
Now, as you say, there is a list of authorized and not authorized things, vendor codes, card's own whatever they have sneaked in with statements that say from now on you agree to what we do...and then suddenly, your cc is directing your purchasing power. How did that happen? Civil libs are lifted without even being noticed. Especially the newer generations. It is a norm to conform. Not being a rebel or anything but you know, at the end, it's my money that I am on the hook for. I don't go tell them how to rip people off even more than they do or curb their greed or anything...

Just venting...lol
still on the prop n fund transfer topic..
  • #21,116
  • Sep 8, 2023 2:09am Sep 8, 2023 2:09am
Quoting Capablanca
{quote} No point in complicating arguments. If you are convinced (and right) that the market is trending a simple moving average will make money. If you are convinced (and right) that the market is ranging a simple oscillator will do the job The R/R on the first may be something like 1/5 with maybe 30% success rate. The R/R on the second one may be something like 1/1 or lower and 60% or more success rate. The risk amount (traded lots) and size of TP/SLs will be very different. How can they ask for consistency in the trading style if we need to change...
I have no problem being and staying consistent forever. I'm not saying that to show off that hey I can do it. I'm saying that to let you know that consistent trading, leads to a gradual and slow and boring as hell equity curb. That is not suitable to pass challenges with. That is why a lot of traders seek that combination of the right time/right size/sl and maybe trailing SL hoping for a for a rocket ride.

So, it is a trading style choice. It is not a necessity to ramp it up geniusly just to achieve a reasonable gain. It is to run up an uphill in order to get places quicker. A prop might want traders to slow down. Not saying that is right or wrong but looking through the point of view of prop...that is if they actually care.
I can see that need for speed was actually a prop requirement with their 30/60 day challenge time limits. Still cool though to continue as if it is still there.
  • #21,117
  • Sep 8, 2023 2:28am Sep 8, 2023 2:28am
Quoting TrAndy1
EX Goldman Sachs FX Prop Trader is sharing his story (in Germany so you need to autotranslate it). https://www.youtube.com/watch?v=EqZX9PR-REM https://www.youtube.com/watch?v=YiwH1Ej5E6w
how long it takes you to reach to 1.4m in funded accounts brother??
  • #21,118
  • Sep 8, 2023 2:30am Sep 8, 2023 2:30am
Quoting genuine007
{quote} how long it takes you to reach to 1.4m in funded accounts brother??
It took my less than 2 months to get those funds. That is the beauty of such props, because you can easily get those funds in no time once you meet their criterias.
  • #21,119
  • Sep 8, 2023 2:48am Sep 8, 2023 2:48am
Long thread of the twitter guy explaining the money laundry scheme in some countries, using agents.
https://twitter.com/TraderNOK/status...05894814167333

He says that Bespoke and FT+ are doing it.
For FT+ he even posted the image of that FT+ published itself (but deleted afterwards).
  • #21,120
  • Sep 8, 2023 3:17am Sep 8, 2023 3:17am
Quoting genuine007
{quote} how long it takes you to reach to 1.4m in funded accounts brother??
I am on my way to get to $2.6 million funded (if MFF will continue, otherwise it is $2m funded) within this month probably. So more than $2m funded in ca. 3 months.
105 traders viewing now