Survival intelligence is more important than entry intelligence
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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
prop firm new model - my trading journey 871 replies
DislikedJust saw this in twitter regarding Smart Prop Trader. When we think that props can't go lower on stupidity, then we discover gems like this: Detailed Overview of Prohibited Trading Strategies: Martingale Trading The Martingale trading approach involves incrementally increasing investment size after each simulated loss, anticipating that a successful trade will recover prior simulated losses and yield a simulated profit. Regarded as a form of gambling, this strategy carries significant risk, potentially resulting in substantial simulated drawdowns...Ignored
Disliked{quote} So , wait a minute, I eneter a trade, it goes in profit..... I book half and move the stop to break even.......I can't do this at this firm? or are they speaking about the opposite trading thing between multiple firms?Ignored
DislikedThis is your 1:30 pm EST wake up call. Blake is a charlatan with 0 knowledge of forex or financial markets. Buying a prop firm account from him is like trying to cut your wrists with a butter knife.Ignored
Disliked{quote} That's exactly how I read, because reversing between firms is always forbade, no matter what. So, they can't be saying that you can reverse in multiple firms but not allowed to halve positions when doing so. So the only interpretation is the one you (and myself) made: 10 lots in profit. Cut position to 5 lots. It's reverse martingale.Ignored
Disliked{quote} I took it to mean that you couldn't open MORE positions in succession, each being the same or smaller lot size than one already open. Not about partial closing. Maybe I read it wrong. It's certainly not worded well. However, I wonder if it would matter if you moved the stop loss to beyond break even first? They don't mention that at all. Most prop firms that have reverse martingale rules (or "smooth martingale" as Bespoke likes to call it) allow more trades on the same symbol if the first is beyond break even. I wouldn't choose a firm like...Ignored
Disliked{quote} Ohh, I see ! I think you are right (Blake, besides trading, should also learn to write in plain english because he is native). Now I get to another question. I have 10 lots in profit. Am I just forbidden to add exactly 5 additional lots (which is half) ? What about 4.99 ? If 4.99 is also forbidden where is the frontier ? 3 lots ? 2 lots ? Going extreme, even an addition of 0.01 lot is a reverse martingale because there is a ratio between 0.01/10. This guy is a complete retard.Ignored
Disliked{quote} Ohh, I see ! I think you are right (Blake, besides trading, should also learn to write in plain english because he is native). Now I get to another question. I have 10 lots in profit. Am I just forbidden to add exactly 5 additional lots (which is half) ? What about 4.99 ? If 4.99 is also forbidden where is the frontier ? 3 lots ? 2 lots ? Going extreme, even an addition of 0.01 lot is a reverse martingale because there is a ratio between 0.01/10. This guy is a complete retard.Ignored
Disliked{quote} Adding to winners is as old as trading itself.......if you are in a long term trend and you are adding to winners, setting stops in profit.......it is a zero risk, infinite reward strategy.......further proof they do not "make money when we do". Otherwise, they would encourage traders to do this. Even straight up martingale works when traded small enough and putting an overall risk cap on a position. They make it so abundantly clear, more and more every day, this is us against them. Now, I am not saying the %5ers are any different, but do...Ignored
DislikedTFF having to migrate all mt5 accounts to mt4, what a cock up.infrastructure problems apparently.
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Disliked{quote} That would tick me off. Some people have quite an investment in EAs, indicators, etc. in MT4 or MT5 and don't have them for both. You could trade copy of course, but I'm glad to be rid of all 32-bit MT4 instances now. That being said, I read somewhere that even MT4 is 64-bit now with the latest installer?Ignored
Disliked{quote} They say they are working on a fix , so it should not be a permanent move away from MT5. There's some issue with mt5 data not synchronising with dashboard. I would have thought it would be any easy enough issue to resolve compared to the hassle of shifting everyone over to mt4. Hope there's not more to the story.Ignored
Disliked" For example, a trader purchases 10 lots and proceeds to be in profit, then proceeds to halving their lot position to 5, which is a form of Martingale trading and is prohibited on the platform. https://help.smartproptrader.com/en/...aren-t-allowed Blake is fighting hard with the kid from Bespoke to win the championship of the most stupid rules ever. Not easy to pick a winner.Ignored
Disliked{quote} The recent MT5 upgrade has caused issues. I have trade copiers with Traders Connect and they have also had issues. It’s industry wide.Ignored
Disliked{quote} By far the stupidest thing I've read this year. How can you invent such stupid rules that don't make any sense ?Ignored
Disliked{quote} I dont know, the things that lex guy who runs swift funding writes is pretty up there with stupid things so far this year.Ignored
Disliked{quote} They say they are working on a fix , so it should not be a permanent move away from MT5. There's some issue with mt5 data not synchronising with dashboard. I would have thought it would be any easy enough issue to resolve compared to the hassle of shifting everyone over to mt4. Hope there's not more to the story.Ignored