Prop Firm Hub | Page 1186 | 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

  • #23,701
  • Oct 6, 2023 1:44pm Oct 6, 2023 1:44pm
Quoting Tovip
{quote} May I ask...while you are trading with alpha, how strict is their martingale rule? I always think of martingale as opening a second or even third trade with similar lot size, so I just assume my trading style will not be allowed in their program. I just looked at their website again, and apparently while they forbid martingale, they allow people to keep opening new trades (for more than once) on the same currency pair as long as the lot size never exceeds the previous lot size. Has this been the case for you? {image} {image}
They have that defined in the FAQs though I never cared about martingales in any props because I use to open just one or two positions.
When opening two positions I always trade less lots than the initial so martingale (or grid) will not apply to me. That's why I never cared in clarifying the rule.
  • #23,702
  • Oct 6, 2023 1:45pm Oct 6, 2023 1:45pm
Quoting rizla101
{quote} I had good 2nd experience with E8. Last Friday requested payout. Payout confirmed, contract recieved funds requested and payment recieved in bank account all on the Monday. TFF . Monday payout requested confirmed and paid by bank transfer same day. TFT - Requested Friday - confirmed Saturday recieved crypto Wednesday.
Good to know this. Important to share experiences these days....

I don't receive a TFF payout for a while. How long are they taking now to provide credentials ? Is that still the next day, end of afternoon (which makes 2 business days with the account frozen) ?
  • #23,703
  • Oct 6, 2023 1:52pm Oct 6, 2023 1:52pm
Quoting Tovip
{quote} May I ask...while you are trading with alpha, how strict is their martingale rule? I always think of martingale as opening a second or even third trade with similar lot size, so I just assume my trading style will not be allowed in their program. I just looked at their website again, and apparently while they forbid martingale, they allow people to keep opening new trades (for more than once) on the same currency pair as long as the lot size never exceeds the previous lot size. Has this been the case for you? {image} {image}
I'm not funded with them currently doing a challenge. I have added to losing positions with smaller or equal lot size. Been fine. They actually have a martingale counter on their dashboard. My position adding has not been registered as martingale on the DB.So as long as you are not placing 2nd or 3rd trades of greater volume than first, they are happy with that.
  • #23,704
  • Oct 6, 2023 1:57pm Oct 6, 2023 1:57pm
Quoting Capablanca
{quote} They have that defined in the FAQs though I never cared about martingales in any props because I use to open just one or two positions. When opening two positions I always trade less lots than the initial so martingale (or grid) will not apply to me. That's why I never cared in clarifying the rule.
thank you
memento mori
  • #23,705
  • Oct 6, 2023 1:57pm Oct 6, 2023 1:57pm
Quoting rizla101
{quote} I'm not funded with them currently doing a challenge. I have added to losing positions with smaller or equal lot size. Been fine. They actually have a martingale counter on their dashboard. My position adding has not been registered as martingale on the DB.So as long as you are not placing 2nd or 3rd trades of greater volume than first, they are happy with that.
memento mori
  • #23,706
  • Oct 6, 2023 1:59pm Oct 6, 2023 1:59pm
Quoting Capablanca
{quote} Good to know this. Important to share experiences these days.... I don't receive a TFF payout for a while. How long are they taking now to provide credentials ? Is that still the next day, end of afternoon (which makes 2 business days with the account frozen) ?
Yes new account came Tuesday night, so Monday and Tuesday lost. But I'm not too concerned by that. Payment was quick, and I traded today without the execution delay I faced previous couple of weeks so overall happy with them.
  • #23,707
  • Oct 6, 2023 2:13pm Oct 6, 2023 2:13pm
Anyone knows what is the secret of success for Exness ? They are so strong as broker, just do not get it why they have more volume than IC Markets. What makes them better ? https://www.financemagnates.com/fore...ng-volume-dip/
  • #23,708
  • Oct 6, 2023 3:50pm Oct 6, 2023 3:50pm
Quoting rizla101
{quote} I'm not funded with them currently doing a challenge. I have added to losing positions with smaller or equal lot size. Been fine. They actually have a martingale counter on their dashboard. My position adding has not been registered as martingale on the DB.So as long as you are not placing 2nd or 3rd trades of greater volume than first, they are happy with that.
Very well pointed. I should have said that myself. They have that martingale count so you know where you are.
This is the kind of things that props should have if they have any special rules, instead of being black box to fail traders or deny payouts.



Finotive, for example, has the SL in 60 seconds rule. However, they don't warn us in real time and they make people to repeat challenge if we miss just one SL, 24 days ago, in the middle of 59 trades. So they let us work 1 or 2 months for nothing. This is not being serious.

CTI also has that rule but we see a clear difference. They are the ones closing automatically the trade.
"Not using a stop loss is considered a soft breach – it won’t lead to the termination of your funded account, but our risk management system will automatically close trades without a stop loss within 1 minute after placing the trade to ensure proper risk management."

Funding Pips also has that for funded account. But it's also much better than Finotive because they also close the trade. And allow 2 violations per week.
"A rule that only applies to the Master account is that you must have put a Stop Loss on every trade within 60 seconds after opening the trade. The trade will be automatically closed if you don't have put a Stop Loss in 60 seconds. You are allowed to let this happen two times, the third will be a violation and your Master account will be closed. The Stop Loss count will reset every week."

I'm not defending CT or Funding Pips over Finotive. I'm just pointing out how the same rule (SL in 60 seconds) can be applied in a bad way or in a more favorable way for traders.

Finotive, in fact, is not worried at all about the SL 60s rule. If they were they would have a better thing. They are interested in having that rule in a bad way, to make X% of the traders repeating their challenges. That's all what matters to them.
  • #23,709
  • Oct 6, 2023 4:43pm Oct 6, 2023 4:43pm
Quoting TrAndy1
Anyone knows what is the secret of success for Exness ? They are so strong as broker, just do not get it why they have more volume than IC Markets. What makes them better ? https://www.financemagnates.com/fore...ng-volume-dip/
China
  • #23,710
  • Oct 6, 2023 5:13pm Oct 6, 2023 5:13pm
Quoting Tim_isoara
{quote} Why you don't close from phone?
Because I don't trade on phone. (not sure that changes something)
  • #23,711
  • Oct 6, 2023 5:19pm Oct 6, 2023 5:19pm
Quoting Capablanca
{quote} Very well pointed. I should have said that myself. They have that martingale count so you know where you are. This is the kind of things that props should have if they have any special rules, instead of being black box to fail traders or deny payouts. Finotive, for example, has the SL in 60 seconds rule. However, they don't warn us in real time and they make people to repeat challenge if we miss just one SL, 24 days ago, in the middle of 59 trades. So they let us work 1 or 2 months for nothing. This is not being serious. CTI also has that...
Very happy to read this. This is exactly what I think. Finotive hides behind obscure rules supposed to protect the trader but in fact their RTP is a real cash machine. Furthermore, as said above, they are incapable of warning the trader in real time of his errors, leaving him to continue for several weeks for nothing. I personally call it a scam and I don't understand why people are still wasting time on this completely outdated firm. (7.5% and payout in 3 days can certainly attract pigeons)
  • #23,712
  • Oct 6, 2023 5:51pm Oct 6, 2023 5:51pm
Quoting Capablanca
{quote} Very well pointed. I should have said that myself. They have that martingale count so you know where you are. This is the kind of things that props should have if they have any special rules, instead of being black box to fail traders or deny payouts. Finotive, for example, has the SL in 60 seconds rule. However, they don't warn us in real time and they make people to repeat challenge if we miss just one SL, 24 days ago, in the middle of 59 trades. So they let us work 1 or 2 months for nothing. This is not being serious. CTI also has that...
Managed to create a free trial account with them before the market was closed for the weekend, and tested out the martingale count feature. As long as each subsequent trade lot size doesn't exceed the previous one's lot size, the martingale count won't be triggered, just like rizla101 said Will add alpha on my list now.

One thing is weird tho, they only allow lot size in the multiples of 0.10 in free trial, so I can't do 0.15, 0.26, 1.37 lot size etc.
memento mori
  • #23,713
  • Oct 6, 2023 6:06pm Oct 6, 2023 6:06pm
Quoting Tovip
{quote} Managed to create a free trial account with them before the market was closed for the weekend, and tested out the martingale count feature. As long as each subsequent trade lot size doesn't exceed the previous one's lot size, the martingale count won't be triggered, just like rizla101 said Will add alpha on my list now. One thing is weird tho, they only allow lot size in the multiples of 0.10 in free trial, so I can't do 0.15, 0.26, 1.37 lot size etc.
I've been using ACG for a month or so. There's no problem if you use a fixed lot size, but I had to re-consider my risk approach with my trade copier from my master account because I usually do risk % per trade, and that won't work when lot sizes change and you open another trade while one is in drawdown. I had to switch over to fixed lot size, and now I have to make sure the account is flat before increasing the lot size once I gain some higher balances or I risk hitting martingale flags. I've been careful and haven't triggered any yet though.

Even the live account is 0.10 minimum lot size for major forex pairs, and that annoys me. The trading conditions have been good though. Still hasn't beaten The5ers for me, but no commission is nice.
  • #23,714
  • Oct 6, 2023 10:53pm Oct 6, 2023 10:53pm
Quoting Capablanca
{quote} Finotive, for example, has the SL in 60 seconds rule. However, they don't warn us in real time and they make people to repeat challenge if we miss just one SL, 24 days ago, in the middle of 59 trades. So they let us work 1 or 2 months for nothing. This is not being serious. CTI also has that rule but we see a clear difference. They are the ones closing automatically the trade. "Not using a stop loss is considered a soft breach – it won’t lead to the termination of your funded account, but our risk management system will automatically close...
That Finotive rule is a turd rule. So dumb.
CT say they have no rules but isn't that a rule to have a stop placed within 1 minute? And for risk managemnt of fake funds? If funds are fake why risk management? Where is the risk for fake funds (demo is the other name no?)?
  • #23,715
  • Oct 6, 2023 11:30pm Oct 6, 2023 11:30pm
Quoting turnip15
{quote} Save up a mere $1000 and trade Micro Futures ( Look them up on the CME website.) This is to allow breathing room for losses and to keep you from biting your nails. The likes of AMP Futures and Tradovate require only $50 margin for the Micros. If you cannot afford to risk $1000 then don't risk your hard earned cash or benefits on trading. Scared money never wins. Obviously this doesn't apply to you but some guy, above this post, blames God for his self inflicted misfortunes brought about by his character defects. Good luck
Hi T, have you tried these micro futures products yet? Had a quick look into them still tyring to workout (through limited info) if they are better than the cash market (counterparty risk) costs etc. Price level caps etc?
  • #23,716
  • Oct 6, 2023 11:33pm Oct 6, 2023 11:33pm
*** Non endorsement alert!***

Maven interview some points raised. Cheap signups see they have moved to Blueberry. Can they buyout any other firms when industry consolidation happens? Realistic?
Inserted Video
  • #23,717
  • Oct 7, 2023 12:29am Oct 7, 2023 12:29am
Quoting rizla101
{quote} I'm not funded with them currently doing a challenge. I have added to losing positions with smaller or equal lot size. Been fine. They actually have a martingale counter on their dashboard. My position adding has not been registered as martingale on the DB.So as long as you are not placing 2nd or 3rd trades of greater volume than first, they are happy with that.
yes, you can add 2nd or 3 rd trade...or more, not an issue.

The onlything what they look for is 2nd, 3rd, 4th positions should be equal or lesser then 1 st position.

1.0
0.9
0.9
0.8
0.8

This is acceptable.
Intraday only.
  • #23,718
  • Oct 7, 2023 1:24am Oct 7, 2023 1:24am
Quoting FocusWinReal
*** Non endorsement alert!*** Maven interview some points raised. Cheap signups see they have moved to Blueberry. Can they buyout any other firms when industry consolidation happens? Realistic? https://www.youtube.com/watch?v=3a-K6RHgYyk
Thx for posting. Nice to see a Canadian kid wearing a sweatshirt tweaking his brains out. WTF
Pride always comes before destruction.... -Proverbs 16:18
  • #23,719
  • Oct 7, 2023 1:27am Oct 7, 2023 1:27am
Quoting Capablanca
{quote} Update 2: - Alpha paid to Wise but for some reason Wise declined and returned the money. Now I asked to another bank. Let's see. All indications I have is that Alpha is indeed paying and paying fast, the problem was in Wise. - FXIFY requested a payout on Monday, filled in the form on Tuesday, contacted support by email and chat 3 or 4 times during the week. Nothing received so far. They keep answering that I will be paid in a couple of hours or that I will have an answer in 24 to 48 hours. Their support is just people answering like bots...
That's too bad. I'm a few dollars away from passing an FXIFY One-Step.

Even if I get through the KYC I guess I'll never get paid anyway.
Pride always comes before destruction.... -Proverbs 16:18
  • #23,720
  • Edited 2:47am Oct 7, 2023 2:33am | Edited 2:47am
Quoting FocusWinReal
{quote} Hi T, have you tried these micro futures products yet? Had a quick look into them still tyring to workout (through limited info) if they are better than the cash market (counterparty risk) costs etc. Price level caps etc?
PLatform and Data are free ( But I am in UK and you are in Australia - so check if International account applies to you in Australia) - I use the Tradeview platform and have no probs. The other things you write about - counterparty etc- are over my head. I like the live data and direct trading with no broker taking the other side.
Hope this helps
https://www.tradestation.com/pricing...-requirements/

Here is the CME Trading chart simulator which might interest you ( ignore my indicators)

https://www.cmegroup.com/trading_tools/simulator
every Saint has a past. Every Sinner has a Future
119 traders viewing now