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  • #22,501
  • Sep 22, 2023 8:14am Sep 22, 2023 8:14am
Quoting acetrader
Are any of you guys & gals trading in the futures market @ this time, or do you have plans to do so if things keep unraveling in the forex prop firm world? If you are, what are you trading to those willing to share. Is anyone trading with a futures prop?
Im working the 10 day eval with Tradeday.com
So far so good, they are different then some of the others, so will see. I like them because after the 10 days, you go straight to funding and withdraw at anytime. Its much different then the FX space, however im used to futures as Ive been trading with AMP for the last 2-3 years.
Trade with confidence, trade without fear.
  • #22,502
  • Sep 22, 2023 8:17am Sep 22, 2023 8:17am
A lot of speculation here about what, who and when. Chill out some more?
  • #22,503
  • Sep 22, 2023 8:25am Sep 22, 2023 8:25am
Because I’m new relatively in 5ers and I didn’t know how they work, I did a mistake. Let me just share with you. It’s useful to know if you’re considering them.

Let’s say you have a 100K account (High stakes, which is the 2 steps challenge)

They have a scaling program. If we make 10% they will upgrade the account to 125K.
And they have 14 days payout.

Now, if you’re in day 13 with 109.950 USD the best is to stop trading to avoid going to 110.000. Why ?

Because if you close that at 110.000 USD on day 13, they immediately scale you to 125.000 and a new cycle of 14 days starts (new account/new credentials). And no payout will be done.

So, it’s better to close on day 13 with 109.950 cash the 9.950 USD profit and the next day you make another 50 bucks and they scale you automatically.

And it's even worse. In my example when they upgrade us to 125.000, the balance is 125.000 and equity is 135.000. The 10K profit previously earned is there as a credit.

BUT, you can only receive it in the next payout if you make a profit. If you lose 1K from the 125.000 initial balance, then they won’t pay the 9K profits that you still have from previous account.
  • #22,504
  • Sep 22, 2023 8:27am Sep 22, 2023 8:27am
Quoting Stoneyrocks
{quote} have a look at these ones thetradingpit.com once funded , trailing on open profits but for the most expensive program in CFD and futures on closed profits this place is 100% legit , look at the people running this shop https://www.linkedin.com/in/illimarmattus/ co-founder of TICKMILL , 1 of the best forex shops , besides they also offer futures https://www.linkedin.com/in/thomas-heyden-ceo/ I...
Thank you for those options. Will be looking into each one. Best of trades to you.
  • #22,505
  • Sep 22, 2023 8:31am Sep 22, 2023 8:31am
Quoting Cryptosurf
{quote} Im working the 10 day eval with Tradeday.com So far so good, they are different then some of the others, so will see. I like them because after the 10 days, you go straight to funding and withdraw at anytime. Its much different then the FX space, however im used to futures as Ive been trading with AMP for the last 2-3 years.
I hope all goes well for you. Let take a look at Tradeday. Thank you.
  • #22,506
  • Sep 22, 2023 8:34am Sep 22, 2023 8:34am
Quoting Capablanca
Because I’m new relatively in 5ers and I didn’t know how they work, I did a mistake. Let me just share with you. It’s useful to know if you’re considering them. Let’s say you have a 100K account (High stakes, which is the 2 steps challenge) They have a scaling program. If we make 10% they will upgrade the account to 125K. And they have 14 days payout. Now, if you’re in day 13 with 109.950 USD the best is to stop trading to avoid going to 110.000. Why ? Because if you close that at 110.000 USD on day 13, they immediately scale you to 125.000 and...
As per above info, is this correct?

Secure the payout: Close on day 13 with your profit (e.g., $9,950), then make a small profit (e.g., $50) on the next day to trigger the account upgrade after securing your payout.
  • #22,507
  • Sep 22, 2023 8:57am Sep 22, 2023 8:57am
Quoting acetrader
{quote} YOU have a great point & I'm starting to rethink that 50K Challenge I had plans on purchasing.
Highly unlikely that US would shut down crypto exchanges or start to somehow hunt prop firm crypto wallets.
  • #22,508
  • Sep 22, 2023 9:04am Sep 22, 2023 9:04am
Quoting MwlRCT
{quote} As per above info, is this correct? Secure the payout: Close on day 13 with your profit (e.g., $9,950), then make a small profit (e.g., $50) on the next day to trigger the account upgrade after securing your payout.
Yes. On day 13 the best is to stop 9.950. Then early on day 14 you request the payout of 9.950. They deduct that from the account and start processing it (you can go on trading immediately).
Then you make a tiny profit of 50 USD to reach 10.000 in accumulated profits (10%) and they automatically upgrade to 125.000 (new account, new credentials).

There are variations of this, of course (which was my case).

Let's say on day 14 you get 5K for the first payout. Then on day 28 you get another 3K payout. Now you have 8K accumulated profits.
Then on day 41 you have 1.9K profit. The best is to stop and not achieve 2K.
On day 42 you ask the 1.9K payout. Then you make a tiny profit of 100 USD to achieve 10K accumulated profits and they upgrade to 125K.
  • #22,509
  • Sep 22, 2023 9:06am Sep 22, 2023 9:06am
I still cannot wrap my head around the futures prop firms being completely unscathed, still able to process through Deel, no change in model, verbiage, etc
Reason I cannot grasp is simple, if these are virtual, simulated, whatever we wish to call it, the exchanges are not making a dime from this trading. Therefore, I would think they'd be after them more as they are blantanly taking money from right under their noses....or is this like the best place to commit a crime is accross the street from the police station?
Not being sarcastic here, I'm really curious as to explanations/opinions on this.
I mean if these firms are safe, I will run the numbers, and if they offer a 4or 5 x factor over trading personal........I'll simply start using these firms side by side with amp. It will probably actually be less stressful.
  • #22,510
  • Sep 22, 2023 9:06am Sep 22, 2023 9:06am
Quoting pipmaster77
{quote} Right. I mean, possibly, FTMO, the 5%ers, TFF (???), even FXIFY, which I recently took on, doesn't seem to be using FPFX. Perhaps a new model emerges. But the bottom line is . if they do not like simulated accounts and you need licensing to trade real funds (both on the firm and trader side), the industry as we knew it 30 days ago is LONG GONE.....ship has sailed.
Probably TFF and FXIFY are using FPFX. Can you believe MFF has been using FPFX?
Attached Image (click to enlarge)
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  • #22,511
  • Sep 22, 2023 9:09am Sep 22, 2023 9:09am
Quoting Capablanca
..........
Because I’m new relatively in 5ers and I didn’t know how they work, I did a mistake. Let me just share with you. It’s useful to know if you’re considering them. Let’s say you have a 100K account (High stakes, which is the 2 steps challenge) They have a scaling program. If we make 10% they will upgrade the account to 125K. And they have 14 days payout. Now, if you’re in day 13 with 109.950 USD the best is to stop trading to avoid going to 110.000. Why ? .........
I am sure, ALL THESE prop firms' rules are developed by SIR ISAAC NEWTON. No wonder, why apples are getting expensive !!
Success = Practice + Patience + Persistence
  • #22,512
  • Sep 22, 2023 9:12am Sep 22, 2023 9:12am
Quoting ladder
{quote} Probably TFF and FXIFY are using FPFX. Can you believe MFF has been using FPFX? {image}
Their dashboard was - past tense - FPFX. They built their own and were transition to that at the time of this downtime. FPFX is not a bad company as in their technology is good and it saves like 1-2yrs dev work.

There are two new tech companies competing with fpfx which were made by 8cap (hence why everyone is moving from 8cap) and they are absolute dogshit.

I liked MFF new one but its gone for now.
  • #22,513
  • Sep 22, 2023 9:13am Sep 22, 2023 9:13am
Quoting TraderTero
{quote} Highly unlikely that US would shut down crypto exchanges or start to somehow hunt prop firm crypto wallets.
One of the newer props just posted coinbase will only let them transfer $5K per day TOTAL.
  • #22,514
  • Sep 22, 2023 9:13am Sep 22, 2023 9:13am
Quoting Boulder
{quote} they are shutting down crypto payments too. I just got this message from Nova. US regulators are making this prop business all shut down soon if they can’t pay out {image}
here
  • #22,515
  • Sep 22, 2023 9:13am Sep 22, 2023 9:13am
Quoting pipmaster77
I still cannot wrap my head around the futures prop firms being completely unscathed, still able to process through Deel, no change in model, verbiage, etc Reason I cannot grasp is simple, if these are virtual, simulated, whatever we wish to call it, the exchanges are not making a dime from this trading. Therefore, I would think they'd be after them more as they are blantanly taking money from right under their noses....or is this like the best place to commit a crime is accross the street from the police station? Not being sarcastic here, I'm really...
Deel has also dumped some of the futures prop firms as well. But yeah, if the regulators think CFD prop is sketchy money grab, how can they overlook futures prop?
Trade with confidence, trade without fear.
  • #22,516
  • Sep 22, 2023 9:14am Sep 22, 2023 9:14am
Quoting Capablanca
Because I’m new relatively in 5ers and I didn’t know how they work, I did a mistake. Let me just share with you. It’s useful to know if you’re considering them. Let’s say you have a 100K account (High stakes, which is the 2 steps challenge) They have a scaling program. If we make 10% they will upgrade the account to 125K. And they have 14 days payout. Now, if you’re in day 13 with 109.950 USD the best is to stop trading to avoid going to 110.000. Why ? Because if you close that at 110.000 USD on day 13, they immediately scale you to 125.000 and...
Wow, just wow.
  • #22,517
  • Sep 22, 2023 9:26am Sep 22, 2023 9:26am
Quoting pipmaster77
I still cannot wrap my head around the futures prop firms being completely unscathed, still able to process through Deel, no change in model, verbiage, etc Reason I cannot grasp is simple, if these are virtual, simulated, whatever we wish to call it, the exchanges are not making a dime from this trading. Therefore, I would think they'd be after them more as they are blantanly taking money from right under their noses....or is this like the best place to commit a crime is accross the street from the police station? Not being sarcastic here, I'm really...
Do you think it's worthwhile ? Because most of them have trailing stop.

I guess the quote should be real because some of them charge for the live fee
  • #22,518
  • Sep 22, 2023 9:26am Sep 22, 2023 9:26am
If my efforts at FTMO fail to materialize, then I will forget prop firm's futures & forex & continue to trade futures with a tradition broker.
Not my preference, but futures are much less stress-free trading for me so far.
  • #22,519
  • Sep 22, 2023 9:27am Sep 22, 2023 9:27am
Quoting pipmaster77
{quote} One of the newer props just posted coinbase will only let them transfer $5K per day TOTAL.
There are plenty of other options than Coinbase. Most brokers use other crypto payment services as Coinbase is just a bad company.
  • #22,520
  • Sep 22, 2023 9:28am Sep 22, 2023 9:28am
Quoting pipmaster77
{quote} here
Coinbase set limit on Nova, its $5000 total per week,, not per day.. how the prop firm can payout on time? I have $100k live account with them.
They only have crypto payment option at the present time. I hope they find other payment method
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