Prop Firm Hub | Page 1361 | 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

  • #27,201
  • Dec 12, 2023 7:34am Dec 12, 2023 7:34am
Quoting lddd
Is trading is so impossibly difficult that in over 10 years I haven't found a SINGLE thing that achieves any kind of consistent results?

You are in the wrong thread.

WTF are you doing endlessly debating the fine details of different prop firms if you haven’t got a simple system with a proven edge, to pass their evaluations?

How is a big funded account going to help you, if you can’t trade steadily with an edge and make reliable profits?


Quoting lddd
Is there any plan that is easy to execute and is reasonably profitable, achieving 1-2% per month on average without a huge drawdown or even risk blowing up the account?

Yes.

Easy.

After some careful practice this one will get you through an FTMO evaluation or any other sensible evaluation without a time-limit (as it has done for so many other people).

Provided that you get two things right:

1. use a 1:1 R only and ignore all the stupid, ill-informed comments in the thread about higher reward to risk ratios.

2. use a fixed, never-varying position-size of 0.25% (yes: a quarter of 1 percent!) of the initial account size and be patient.
  • #27,202
  • Dec 12, 2023 7:39am Dec 12, 2023 7:39am
Quoting Vitore
{quote} I must say have a different experience. I gave them another try last week after some time of not having any account with them. Passed both evaluation and verification within 1 day (and traded microlots on crypto for another 4). Evaluation account was issued instantly after payment, waiting time for verification was just a couple of hours (overnight in Europe). As I already went through the KYC in the past so my funded account was issued also just after a couple of hours. I decided to close whatever profit I make and request payout on the...
That's good experience. Did yo have to fill in a google form ?
Because to me that's where my problemas started. On second payout when we click on the google form link we get a message saying we already replied. Then we have to edit it but somehow they don't seem to be receiving or acting on the updates.
  • #27,203
  • Dec 12, 2023 7:41am Dec 12, 2023 7:41am
Quoting KarlKraus
{quote} You are in the wrong thread. WTF are you doing endlessly debating the fine details of different prop firms if you haven’t got a simple system with a proven edge, to pass their evaluations? How is a big funded account going to help you, if you can’t trade steadily with an edge and make reliable profits? {quote} Yes. Easy. After some careful practice this one will get you through an FTMO evaluation or any other sensible evaluation without a time-limit (as it has done for so...
Yes, because that 0.25% is actually 2.5% of the max loss. It allows for 40 losses.
  • #27,204
  • Dec 12, 2023 7:49am Dec 12, 2023 7:49am
Quoting pipmaster77
that 0.25% is actually 2.5% of the max loss. It allows for 40 losses.

Exactly so, for FTMO - or there/thereabouts for others.
  • #27,205
  • Dec 12, 2023 7:50am Dec 12, 2023 7:50am
Quoting Tobiazzek
{quote} Livefreefx , Scott Taylor FX- legit guys with ready startegies that you can buy for pretty cheap ( I only had the course from the second one with good outcomes, but heard good things about the first one's strat) FalconFX- well known and legit guys (but the strat was swing if I remember correctly, they might have changed) They have an amazing psychology course that you can find online on the low "Rewired" Aaron trades- trades live everyday( I'm learning from him rn for a second strat for diversification purpouse) Hopefully this helps, 10...
live trading is a lot with fakers and a lot do. biggest fakers have even trading rooms.
that say total nothing.
  • #27,206
  • Dec 12, 2023 8:07am Dec 12, 2023 8:07am
Quoting lddd
I just can't find any help here with any halfway profitable trading plan that suits me and my objectives. It is to be crazy. Is trading is so impossibly difficult that in over 10 years I haven't found a SINGLE thing that achieves any kind of consistent results? All you find are either gamblers who don't seem to really make a living from trading as their main source of income or people who simply have no idea but think they do or people who maybe have a clue but can't/don't want to show you anything about it. Is there any plan that is easy to execute...
yes it is that difficult. I would say you can start with Brent Donnelly books. That is a good starting point to develop something. A simple moving average over H1 won't do the trick I guess. I just make a backtest to verify this, if that can work or not. I use variable Stoplosses and Profit Target with that indicator over last 2 years. AS KarlKraus suggested I am curious to know the results. Let's see. Soon. Then I will post again with the findings. I check this with all 28 majors and minors and then going forward over the last 6 months to see if that can work out-of-sample or not. I highly doubt that it is good consistent strategy.


Here is the setup screenshot. It is just downloading H1 data for some years now. Then I will optimize the SL and PT values.

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-12-12_151036.jpg Size: 559 KB
  • #27,207
  • Dec 12, 2023 8:12am Dec 12, 2023 8:12am
Dont know if anyone already posted this
https://www.financemagnates.com/fore...forced-ouster/
  • #27,208
  • Dec 12, 2023 8:24am Dec 12, 2023 8:24am
Quoting Trader191
{quote} live trading is a lot with fakers and a lot do. biggest fakers have even trading rooms. that say total nothing.
You are right, one of them trades everyday and if you were taking his positions you would be profitable (livestreams on yt). The others have either confirmed withdraws with props(yes you gonna say those can be also faked) or have a myfxbook record ( falconfx if I'm not mistaken). Anyway just trying to help, thete is a lot of scammers but not always selling course= is a scammer( although 90% is) and most of them are pretty easy to spot if you'vr been around for more than 2 years.
  • #27,209
  • Dec 12, 2023 8:30am Dec 12, 2023 8:30am
Quoting TrAndy1
{quote} yes it is that difficult. I would say you can start with Brent Donnelly books. That is a good starting point to develop something. A simple moving average over H1 won't do the trick I guess. I just make a backtest to verify this, if that can work or not. I use variable Stoplosses and Profit Target with that indicator over last 2 years. AS KarlKraus suggested I am curious to know the results. Let's see. Soon. Then I will post again with the findings. I check this with all 28 majors and minors and then going forward over the last 6 months...
Not profitable at all! A 100 period moving average over H1 does not help you for sure. Just backtested. Even with cherrypicking no positive result out-of-sample possible. And I tried different periods too. Nothings works here. You might have luckily one good month (doing more the opposite as seen in equity curve chart), but that's it.

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-12-12_153329.jpg Size: 534 KB
  • #27,210
  • Dec 12, 2023 8:34am Dec 12, 2023 8:34am
Anyone with alpha capital live account, passed 2 ND phase on Thursday still no update of live acc. Normally how many days they take to provide live acc details?
  • #27,211
  • Dec 12, 2023 8:39am Dec 12, 2023 8:39am
Quoting inversio
Anyone with alpha capital live account, passed 2 ND phase on Thursday still no update of live acc. Normally how many days they take to provide live acc details?
https://help.alphacapitalgroup.uk/en...cess-is-passed

They used to take the whole time (5 business days), not a minute less.
They say it's to parametrize your risk based in the challenge phase (that's buls* of course, they just want to postpone the payout date, if it ever happens).
  • #27,212
  • Dec 12, 2023 9:18am Dec 12, 2023 9:18am
Quoting Capablanca
{quote} https://help.alphacapitalgroup.uk/en...cess-is-passed They used to take the whole time (5 business days), not a minute less. They say it's to parametrize your risk based in the challenge phase (that's buls* of course, they just want to postpone the payout date, if it ever happens).

5 working days is too much, all days is in the dashboard, all metrics r on green zone , it shouldn't take more than 2.
Anyway thnx for the info , let's see when they provide the acc details
  • #27,213
  • Dec 12, 2023 9:21am Dec 12, 2023 9:21am
Quoting Capablanca
{quote} That's good experience. Did yo have to fill in a google form ? Because to me that's where my problemas started. On second payout when we click on the google form link we get a message saying we already replied. Then we have to edit it but somehow they don't seem to be receiving or acting on the updates.
Yes I did, but it was for the first time. Hence my note about the next payout (when the form will already have been filled). I'll let you here know if I ever get there
Money is made by sitting, not trading
  • #27,214
  • Dec 12, 2023 9:31am Dec 12, 2023 9:31am
Quoting TrAndy1
{quote} Not profitable at all! A 100 period moving average over H1 does not help you for sure.
OMG.

It’s absolutely frightening, the extent to which you persistently, reliably, have absolutely no idea what you’re talking about.

God only knows what you imagine you were backtesting, or how, for those few minutes, but your conclusion just couldn’t be more wrong.

I know people who have used exactly what Karl explained (two of them even with 0.3% and 0.33% position-sizing rather than with the 0.25% Karl stated) to get funded successfully by MFF (lol), FTMO, Topstep, Tradeday and E2T.

Your posts here should come with a health warning.

You're helping nobody.
  • #27,215
  • Dec 12, 2023 9:40am Dec 12, 2023 9:40am
Quoting Quickly
{quote} OMG. It’s absolutely frightening, the extent to which you persistently, reliably, have absolutely no idea what you’re talking about. God only knows what you imagine you were backtesting, or how, for those few minutes, but your conclusion just couldn’t be more wrong. I know people who have used exactly what Karl explained (two of them even with 0.3% and 0.33% position-sizing rather than with the 0.25% Karl stated) to get funded successfully by MFF (lol), FTMO, Topstep, Tradeday and E2T. Your posts here should come with a health warning. You're...
Yes, I think folks misunderstand a lot of things here. In the example of that MA system, the MA is NOT the system, it is simply being used to identify the trend. So you identify the trend and then enter on pullbacks/extensions to levels of interest (FIBS, S/D, ADR, etc)
Actually, just read the first few posts of that thread, it is actually simpler than what I just said.
Everyone really seems to make this harder than it actually is.
  • #27,216
  • Dec 12, 2023 9:54am Dec 12, 2023 9:54am
Quoting Tobiazzek
{quote} You are right, one of them trades everyday and if you were taking his positions you would be profitable (livestreams on yt). The others have either confirmed withdraws with props(yes you gonna say those can be also faked) or have a myfxbook record ( falconfx if I'm not mistaken). Anyway just trying to help, thete is a lot of scammers but not always selling course= is a scammer( although 90% is) and most of them are pretty easy to spot if you'vr been around for more than 2 years.
when they trade already many years, trade accounts with many hundred thousands inside at least (so they believe in their own trading and a loss will hurt them and no play money of some thousand) , wehn they dont trade frontrunning trading objects, when they dont use bad or own broker for fake wins and withdraws, ....... then i would start to say they are maybe real traders.
  • #27,217
  • Dec 12, 2023 10:12am Dec 12, 2023 10:12am
Quoting pipmaster77
{quote} Yes, I think folks misunderstand a lot of things here. In the example of that MA system, the MA is NOT the system, it is simply being used to identify the trend. So you identify the trend and then enter on pullbacks/extensions to levels of interest (FIBS, S/D, ADR, etc) Actually, just read the first few posts of that thread, it is actually simpler than what I just said. Everyone really seems to make this harder than it actually is.

true, such simple systems you can program and backtest very easy and then know over thousand of trades if there is an edge in side and how much.
automate backtest makes live so much easier , because without thousand of trades the result will be so useless by any relevance and can by pure luck and fantasy.
thats the good part in daytrading that you get very fast each year many thousand of trades and always know is there a edge inside or not.
  • #27,218
  • Dec 12, 2023 10:29am Dec 12, 2023 10:29am
Help me refresh my memory. Do we like ACG? I know their site sucks, even the dashboard keeps logging me out. Especially now that they gave away 70k+ $5k accounts (Although I think with the big news, many already lost their accounts). No commissions, they take 3-5 business days to send credentials after each phase.
No martingale rule (can't add bigger lot size if open position is in dd), 2 min trade rule (majority of trades should have an average of more than 2min duration).

I am trying out the free $5k account, so far, it's been good.
Anyway, saw on the discord that they have a 40% discount until Dec 25th. Code is XMAS40
  • #27,219
  • Dec 12, 2023 10:40am Dec 12, 2023 10:40am
Quoting TrAndy1
{quote} Not profitable at all! A 100 period moving average over H1 does not help you for sure. Just backtested. Even with cherrypicking no positive result out-of-sample possible. And I tried different periods too. Nothings works here. You might have luckily one good month (doing more the opposite as seen in equity curve chart), but that's it. {image}
What program do you use to run those tests ?
  • #27,220
  • Dec 12, 2023 10:44am Dec 12, 2023 10:44am
Quoting rjay
{quote} What program do you use to run those tests ?
Multicharts with IQfeed FXCM data.

I just can say that it does not work consistently. I am not talking about passing one time the challenges. I am talking about doing profits for at least 4 to 6 months. Then it comes whether the underlying strategy has an edge or not. I also tested the mean reversion bollinger band strategy on many pairs across different time frames from 5min to 4 hour bars, and the out-of-sample curve overall is just flat, so you basically cannot do profits in that way too when you speak of consistent profits. It ist just not that easy to find something consistent profitable. It would be like (re-)inventing a money printer machine where you could be (multi-)millionaire trading Spot FX.

Who says here, it is that easy and you can EASILY pass any challenge evaluation ?
58 traders viewing now