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Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

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  • #26,781
  • Nov 30, 2023 8:26am Nov 30, 2023 8:26am
Quoting EF-Hutton
{quote} contact @TraderNOK on X and @TraderBach I know they’ve helped traders with issues pertaining to Prop firms. I would also make sure you have screenshots of your conversation with your firms, support.
Thank you sir,
I contacted my bank for a charge back and then also was able to get evidence from my MT4 journal that the system was not able to close trades.

they are considering reinstating my account back, but in 2 minds to accept it or not or get my bank for the chargeback

Thanks though for the guidance
  • #26,782
  • Nov 30, 2023 8:29am Nov 30, 2023 8:29am
Quoting Capablanca
{quote} I'm not sure but I think Nova trading is of the same guys that scammed with blue forex funds and first class forex funds. If they had a malfunctioning and are not assuming it I would try to charge back through my card.
I managed to get a screenshot of MT4 journal which has proof that I was unable to close the trades.
Their operation manager has now come back to offer to reinstate the account back, but in 2 minds whether to accept it or go for charge back
but feel angry that they were going to "steal" $1,000 for my challenge fees.
  • #26,783
  • Nov 30, 2023 8:49am Nov 30, 2023 8:49am
Quoting fxguru2010
{quote} I managed to get a screenshot of MT4 journal which has proof that I was unable to close the trades. Their operation manager has now come back to offer to reinstate the account back, but in 2 minds whether to accept it or go for charge back but feel angry that they were going to "steal" $1,000 for my challenge fees.
Glad that this is being solved. If you manage to get a charge back I would not hesitate.

You just had a flavor of what shady prop your are dealing with. You have several better props where to to your money.
  • #26,784
  • Nov 30, 2023 10:07am Nov 30, 2023 10:07am
Apparently Alpha is giving away free 5K challenges.
It's not a lot but maybe it's a good opportunity to test their platform, dashboard, spreads, execution, etc.
https://twitter.com/AlphaCapitalUK/s...25899918794860
  • #26,785
  • Edited 11:11am Nov 30, 2023 10:51am | Edited 11:11am
Quoting Capablanca
{quote} Something that would worry me if I had achieved a big chunk of money before the 3 months was if the Apex subjective consistency rules (not the 30% and 20%) will ever be enforced (I mean reducing a lot the size compared with what was usual). We don't see claims about that in FakePilot but we also know that they had a brutal bust in the last 2 months for what I read or see somewhere. I hope that they stay honest like until now, not inventing reasons for deducting profits. Because, being objective, this...
I read through the APEX funded trader consistency rules last night.

Wow, it's amazing that they can ramble on and say the same thing over and over and over again. How do they expect you to trade?

Closing positions every day is bad enough. I guess you can kind of swing trade and just keep paying the spreads every day. But I can't build a position by dollar cost averaging a few smaller positions.

You can't trade news because you might get a windfall trade? So you can't wait for a key level to be broken during the news and then enter a position when price retraces back to that level? Or you can't set simultaneous buy and sell positions before the news at key levels that you think would be attractive levels to get in the market based on 20000 hours of chart time?

You can't scalp because your position size would radically change from the normal buy-and-hold trade?

And they want you to be able describe your system in words if they ask? How about I use multiple strategies based on decades of experience to extract money from the market? Is that ok APEX?

APEX funded trader. Actual footage.
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Pride always comes before destruction.... -Proverbs 16:18
  • #26,786
  • Nov 30, 2023 11:17am Nov 30, 2023 11:17am
Quoting Capablanca
Apparently Alpha is giving away free 5K challenges. It's not a lot but maybe it's a good opportunity to test their platform, dashboard, spreads, execution, etc. https://twitter.com/AlphaCapitalUK/s...25899918794860
even their 41% discount is crazy...
Extreme gut feeling trader
  • #26,787
  • Nov 30, 2023 11:29am Nov 30, 2023 11:29am
Quoting montygoldy
{quote} even their 41% discount is crazy...
Yep, I have a funded with them and used the BF discount of 40% to purchase another challenge. Now it's even 41% instead of 40%.
I don't know how to such a massive discount but let's see....
  • #26,788
  • Nov 30, 2023 12:07pm Nov 30, 2023 12:07pm
if you can scalp Futures then Apex is best. There is no way to scale this on your own. You can trade 50 to 100 contracts across 20 accounts at a time with them. You cannot do more on a Futures brokerage account with scalping. And it is easier to get in and out with simu conditions as you can get more slip on real account. Apex is therefore the best way for scalping. You cannot swing trade with them really. It is too hard and the trailing is too strict. But for scalpers this can be heaven and you get nearly all profits from your simu accounts Apex. So here we have a solution which is better then any real account at a broker for sure. You only need to be able to scalp.
  • #26,789
  • Nov 30, 2023 12:09pm Nov 30, 2023 12:09pm
Well known traders and youtubers - @Tradermayne, @CryptoCred, @Abetrade, @UncleSendIt are starting new prop

https://twitter.com/Tradermayne/stat...12762397266359
  • #26,790
  • Nov 30, 2023 12:20pm Nov 30, 2023 12:20pm
Quoting fx_rookie
Well known traders and youtubers - @Tradermayne, @CryptoCred, @Abetrade, @UncleSendIt are starting new prop https://twitter.com/Tradermayne/stat...12762397266359
Oh good another scammy firm run by 20 year olds, can't wait to join!!!!!!
  • #26,791
  • Nov 30, 2023 12:29pm Nov 30, 2023 12:29pm
I do follow these people for a while. The content they create is good and that's why they have thousands of followers. I hope that their new project will be good too.
  • #26,792
  • Nov 30, 2023 12:35pm Nov 30, 2023 12:35pm
Quoting sampat
{quote} It is probably 1000% or 2000% if your account is 50K or 150K (with allowed drawdown of 2.5K or 5K times 20). Someone asked Vince (first million dollar withdrawer from apex on youtube) and he responded the was keeping 320K (means 20K*20 = 400K) as butter you need silver balls to do that, It is difficult to trust even regulated broker with such money. https://www.youtube.com/watch?v=IjTd8WffpQI {image}
with regulated broker you can trust any money, how you want do big without have millions in Account?
but secure your money with buy structured products like bonds, some etf, stocks.... so you are outside the bankrupt risk part.
so with a good broker securing money until whateverever amount is most easy task. or you use custodian service.
  • #26,793
  • Nov 30, 2023 1:46pm Nov 30, 2023 1:46pm
Quoting sampat
{quote} It is probably 1000% or 2000% if your account is 50K or 150K (with allowed drawdown of 2.5K or 5K times 20). Someone asked Vince (first million dollar withdrawer from apex on youtube) and he responded the was keeping 320K (means 20K*20 = 400K) as butter you need silver balls to do that, It is difficult to trust even regulated broker with such money. https://www.youtube.com/watch?v=IjTd8WffpQI {image}
Wise words. If you know the desasters from Refco, MF Global, FXCM and many others especially in FX space you know it is hard to trust. You can only diversify best.
In crypto space it is even much worse with Mt. Gox and now FTX blownups. You do not know if even the future broker is doing illegal things, meaning your deposits are not secured and safe here for any fraud case. Now Vantage in FX is making withdrawal problems. Therefore the props are golden. Especially when the payouts are sure.
Even I know Gain Capital from the old days, when you made over 5000 USD profits in Forex you got kicked out of the broker. It was just a bucket shop b-booking only.
  • #26,794
  • Nov 30, 2023 4:20pm Nov 30, 2023 4:20pm
Quoting Expo33
{quote} I read through the APEX funded trader consistency rules last night. Wow, it's amazing that they can ramble on and say the same thing over and over and over again. How do they expect you to trade? Closing positions every day is bad enough. I guess you can kind of swing trade and just keep paying the spreads every day. But I can't build a position by dollar cost averaging a few smaller positions. You can't trade news because you might get a windfall trade? So you can't wait for a key level to be broken during the news and then enter a position...
Im certain you can manage it. The magical yayo snowmen don't build themselves after all.

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Trade with confidence, trade without fear.
  • #26,795
  • Edited 5:29pm Nov 30, 2023 5:16pm | Edited 5:29pm
Update on my phase 1 challenge
1. Skilled trader - 500bucks away from passing the challenge
2. Blueguardian: nearly 2% left
3. Myflashfunding: received credentials very late so only managed 1% gain.

NOTE: no copy trades at all made this mistake on my first few challenges. Key to success never ever repeat your mistakes


CURRENT STATS ON MY CHALLENGES TAKEN
1. first batch bought 5x100k funded 1 (20%)
2. Second batch bought 3x200k funded 2 (33.33%)
3. Third (current batch) 3x200k aiming for 100% pass rate
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Extreme gut feeling trader
  • #26,796
  • Nov 30, 2023 7:12pm Nov 30, 2023 7:12pm
Quoting montygoldy
Update on my phase 1 challenge 1. Skilled trader - 500bucks away from passing the challenge 2. Blueguardian: nearly 2% left 3. Myflashfunding: received credentials very late so only managed 1% gain. NOTE: no copy trades at all made this mistake on my first few challenges. Key to success never ever repeat your mistakes CURRENT STATS ON MY CHALLENGES TAKEN 1. first batch bought 5x100k funded 1 (20%) 2. Second batch bought 3x200k funded 2 (33.33%) 3. Third (current batch) 3x200k aiming for 100% pass rate {image} {image} {image}
phase 1 need to wait 3 days
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Extreme gut feeling trader
  • #26,797
  • Nov 30, 2023 7:23pm Nov 30, 2023 7:23pm
Wow @montygoldy , what is your strategy? if you don't mind sharing. Do you only trade GU?
  • #26,798
  • Nov 30, 2023 8:39pm Nov 30, 2023 8:39pm
Quoting krscott
Wow @montygoldy , what is your strategy? if you don't mind sharing. Do you only trade GU?
1. SIMPLE TRY TO SCALP 10-20 pips with the trend
2. MOST IMPORTANT NOT TO RISK MORE THAN 1% per trade.
3. Strict discipline to follow above two rules.
Yesterday trades… ONLY GOLD, GU & US30
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Extreme gut feeling trader
  • #26,799
  • Nov 30, 2023 10:05pm Nov 30, 2023 10:05pm
Do you have any information about mff???
  • #26,800
  • Nov 30, 2023 10:28pm Nov 30, 2023 10:28pm
Quoting montygoldy
{quote} 1. SIMPLE TRY TO SCALP 10-20 pips with the trend 2. MOST IMPORTANT NOT TO RISK MORE THAN 1% per trade. 3. Strict discipline to follow above two rules. Yesterday trades… ONLY GOLD, GU & US30 {image} {image}
Would you mind sharing how you personally identify a trend?
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