Prop Firm Hub | Page 1464 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 33 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

  • #29,261
  • Feb 5, 2024 12:01am Feb 5, 2024 12:01am
Quoting HengkiTjen
hi Montygoldy thanks for share 40% off now funded 300k alpha i chose Rise {image}
Good job buddy keep killing it.... unfortunately today i lost 400K funding from skilled was in in deep drawdown since december.... Atleast it was risk free got the 1 payout which also funded the January challenges....
Total current funding is 400k.. 200k alpha and 200k myflashfunding..
Gonna buy skilled 2x200k challenge next week..... This feb trying to hit 1mil in funding...
Extreme gut feeling trader
  • #29,262
  • Feb 5, 2024 12:14am Feb 5, 2024 12:14am
Quoting montygoldy
{quote} Good job buddy keep killing it.... unfortunately today i lost 400K funding from skilled was in in deep drawdown since december.... Atleast it was risk free got the 1 payout which also funded the January challenges.... Total current funding is 400k.. 200k alpha and 200k myflashfunding.. Gonna buy skilled 2x200k challenge next week..... This feb trying to hit 1mil in funding...
RULES NUMBER ONE: DO NOT LOST YOUR FUNDING ACCOUNT !
try to not lost any funded account, that your MONEY TREES
  • #29,263
  • Feb 5, 2024 12:56am Feb 5, 2024 12:56am
Quoting Takisd
{quote} The prop firm is only going to scam your 500 bucks. These reverse guys are looking to scam 20k from them. Who is worse? Seems the player to me.
We can look in a different perspective.
The prop is getting 10 lots long EURUSD and they have to manage that order in their books.

What does it matter if trader is hedging in their own real account ? Props are not looking for good traders, anyway. They are just looking for losers.

So props only have to be competent in managing their order book.
  • #29,264
  • Feb 5, 2024 1:00am Feb 5, 2024 1:00am
Quoting Trader191
i did only wonder why invest so much money in prop against make money fast and bigger with real accounts.
Several reasons, one of them is because you can be losing in your real account while still winning in prop. That's because in props you manage 100% of the money but the cost is just a fraction of that.

In other words you manage 20K (which is the DD of 200K account for example), paying only 1K, 2K, 3K (or how many challenges you paid to pass the challenge).

If you understand options, Props is like purchasing a call option for EURUSD, for example, at a great discount of it's market value.
  • #29,265
  • Feb 5, 2024 1:04am Feb 5, 2024 1:04am
Quoting Trader191
you cant exactly compare how much prop will destroy your trading habits
A good trader doesn't mix up trading styles in props and real accounts. It just takes the money from the prop with a different method (much easier method) and funnels that to his own account (or uses that money to spend in vacation or whatever suits to him).
  • #29,266
  • Feb 5, 2024 1:05am Feb 5, 2024 1:05am
Quoting Capablanca
{quote} We can look in a different perspective. The prop is getting 10 lots long EURUSD and they have to manage that order in their books. What does it matter if trader is hedging in their own real account ? Props are not looking for good traders, anyway. They are just looking for losers. So props only have to be competent in managing their order book.
no mate. If the book is filled with guys just coin flipping you can’t do anything with the flow. The flow is rubbish and is just a coin flip.
  • #29,267
  • Feb 5, 2024 1:10am Feb 5, 2024 1:10am
Quoting montygoldy
Question whoever used alpha capital which withdrawal method is good.... i am thinking of bank transfer... rise only heard bad about them.. not sure about deel/wise.... {image}
I tried wise in my first payout and lots of problems (transfer was rejected for some reason in wise), until I gave up and changed to bank wire.
Bank wire works for me. Usually I receive the same day I request or the day after.
Important to note that my problems with wise may be because I'm from Europe and don't know to parametrize that stuff of ACH, etc. Here we just use IBAN and BIC and that's enough.
Deel I think it's not available any longer.
  • #29,268
  • Feb 5, 2024 1:12am Feb 5, 2024 1:12am
Quoting Capablanca
{quote} I tried wise in my first payout and lots of problems (transfer was rejected for some reason in wise), until I gave up and changed to bank wire. Bank wire works for me. Usually I receive the same day I request or the day after. Important to note that my problems with wise may be because I'm from Europe and don't know to parametrize that stuff of ACH, etc. Here we just use IBAN and BIC and that's enough. Deel I think it's not available any longer.
thanks went with wire transfer as well
Extreme gut feeling trader
  • #29,269
  • Feb 5, 2024 1:13am Feb 5, 2024 1:13am
Is this possible that MT4 got banned or say shut down, and metaquotes company decide to have just MT5 or bring something new software
If that happen what will happen to all those colorful indicators that coders have designed for MT4 and still designing on forexfactory and other websites and also to scripts like to say break even all trades, close all pendings, delete all orders, trailling stops, and all other EAs as well.
What kind of indicators work permanently on MT4 no matter what kind of or how many times a MT4 updated version is released by the company.
What is the life of a normal indicator that is currently working in MT4 and we don't even have its code sometimes and its just .ex4 file which can't be edited
and how to find similar or say alernative indictaors online and where, what to search for..

I am curious to know because there are a lot of indicators that work good for MT4 that make our life easy and make our work fast to understand chart for example like Daily High Low, Previous Day High Low Line Indictaor, Spread Lines Indicator, Pips Indicator, Previous Weak High Low, Pivots, Zig Zag etc etc

Also, with all these prop firms something is cooking, I think we will see some new trading platforms within a few months
  • #29,270
  • Feb 5, 2024 1:14am Feb 5, 2024 1:14am
Quoting HengkiTjen
{quote} RULES NUMBER ONE: DO NOT LOST YOUR FUNDING ACCOUNT ! try to not lost any funded account, that your MONEY TREES
yep i know these accounts were already in drawdown before i tweaked my risk management..... then eventually gave up......stupid me.... but yea learnt my lesson
Extreme gut feeling trader
  • #29,271
  • Feb 5, 2024 1:15am Feb 5, 2024 1:15am
Quoting Takisd
Its just a copier with a calculation. What it does is allow people to gamble to pass (no effort). Btw i forgot to add an edit here - > Its for pathetic losers who cant trade .
//-----

lol....... no different from someone passing my cdl driving test for me......

we have been coding copiers since mq4 had file write...... they are useful when your maxed out on oanda live accounts......

the master ea is less than 100 lines of code and no dll's needed..... it creates an excel file in your common data folder with the masters open trades..... it's sole purpose in life is to create that excel file...... nothing more.....

the slave ea, is less than 300 lines of code and no dlls needed...... it reads that file and compares it against it's own open trades and adjusts them accordingly...... the slave ea is slightly larger due to the fact it must send, modify, delete and close orders.....

keep in mind, as a comparison the bare bones macd sample ea included with every platform has 150 lines of code.....
//----

so before throwing good money after bad, might be worth listening to takisd......

filewrite...... fileread...... it's still your trades.............h
to trade and code, keep both simple... no call to impress....h
  • #29,272
  • Feb 5, 2024 1:21am Feb 5, 2024 1:21am
Quoting Takisd
{quote} no mate. If the book is filled with guys just coin flipping you can’t do anything with the flow. The flow is rubbish and is just a coin flip.
If there is no EA (or hedging as such) people with decide based in charts, the moon or whatever. Props will receive a flow that tends to be 50/50 long / short also, because those analysis from retail tend to be random. So it's similar to coin flipping.

What am I missing here ? (I admit I don't have the inside knowledge that you have)
  • #29,273
  • Feb 5, 2024 1:39am Feb 5, 2024 1:39am
Quoting Capablanca
{quote} If there is no EA (or hedging as such) people with decide based in charts, the moon or whatever. Props will receive a flow that tends to be 50/50 long / short also, because those analysis from retail tend to be random. So it's similar to coin flipping. What am I missing here ? (I admit I don't have the inside knowledge that you have)
What if all the guys flip long? Since its a coin flip, the variables are endless. But you could end up with 4000000 lots of long and no system or magical risk officer can manage that flow.

The benefits for retail flow is that there is usually some "purpose" or "System" to the flow. With that system, you can manage the risk just of that system to get alpha. Managing order flow isn't direction picking, its getting more out of an order that exists. But if the majority of the traders lose because they coin flip and go the wrong way the only way you could potentially profit is by trading opposite and if you are to do that you have to guess directional bias of the market. If you are managing risk by speculating, your longevity is not likely.
  • #29,274
  • Feb 5, 2024 2:26am Feb 5, 2024 2:26am
formedfunding.com and fundedengineer.com

Same owners, different set up. Which would you choose? I dont understand why companies have multiple props, one possibility would be to expand offering without cluttering a single one, perhaps its to avoid having to pay vendors on existing.

I still don't see anyone doing the plan i have in my mind that would be most effective so thats interesting (its a one phase idea).
  • #29,275
  • Feb 5, 2024 2:27am Feb 5, 2024 2:27am
Quoting montygoldy
{quote} alright my friend lets see … i am gonna post my journey to pull 200k profits out of prop firm this year here… lets see who wins or me
i trade since 20 years in daytrading daily. i have this amount in 1-3 months always since many years. this would not be a very fair competition, because i use real account and so wins are very consistent and stable and possible to plan (that is not so easy in props) and i know with a very high chance of 95% that i will have it in 3 months ( 4,9 % chance that wins are between 100 and 200k when something bad events happen; 0,1 % that something happens i did not have until now) . when i would say i work more time in trading then maybe with 99% chance.

so around end of February should be already done with your plan when nothing special will happen in next 2-3 weeks.
  • #29,276
  • Feb 5, 2024 2:37am Feb 5, 2024 2:37am
Quoting Capablanca
{quote} A good trader doesn't mix up trading styles in props and real accounts. It just takes the money from the prop with a different method (much easier method) and funnels that to his own account (or uses that money to spend in vacation or whatever suits to him).
yes, a good plan. but our brains dont work so easy often like we plan, its often a lot subconsciously. its hard to split this very easy and make progress in real trading in real trading account when not concentrate on this purpose. but thats only my opinion, i dont know thousands of traders (so i dont have statistical relevant data), so there will be for sure exist trader who can maybe split it and make big progress as trader in real account and use prop same time.
  • #29,277
  • Feb 5, 2024 2:42am Feb 5, 2024 2:42am
Quoting Capablanca
{quote} Several reasons, one of them is because you can be losing in your real account while still winning in prop. That's because in props you manage 100% of the money but the cost is just a fraction of that. In other words you manage 20K (which is the DD of 200K account for example), paying only 1K, 2K, 3K (or how many challenges you paid to pass the challenge). If you understand options, Props is like purchasing a call option for EURUSD, for example, at a great discount of it's market value.
then change trading style so you cant lose. like do many thousand trades each year, so any single trade is unimportant.
of course this only work by first learn all step by step and find your way as trader and grow and grow more and more, doing alone thousands of trades will not help. but by doing so many trades you have statistical relevant data and you see very fast if there is something different to normal market conditions and what you need to change to match to actual market.

of course its then real work, no playing trader from beach style.
  • #29,279
  • Feb 5, 2024 2:48am Feb 5, 2024 2:48am
Quoting advice777
Hidden
stop begging for money ----- if you had talent you would not have lost your account ----- get a grip
  • #29,280
  • Feb 5, 2024 2:51am Feb 5, 2024 2:51am
Quoting Trader191
{quote} i trade since 20 years in daytrading daily. i have this amount in 1-3 months always since many years. this would not be a very fair competition, because i use real account and so wins are very consistent and stable and possible to plan (that is not so easy in props) and i know with a very high chance of 95% that i will have it in 3 months ( 4,9 % chance that wins are between 100 and 200k when something bad events happen; 0,1 % that something happens i did not have until now) . when i would say i work more time in trading then maybe with...
my plan to get 1mil funded by end of feb... 400k already done....9th feb 10k payout coming from myflashfunding... that will fund rest of the challenge tries to reach 1mil.... Btw i am agressive at challenges in a controlled way so i lose some challenges before hitting a jackpot......
FOr my trading history started 6-7 years back as a hobby n still as a hobby..... 2nd year was when i became profitable made net 2k profit in a year.... After that its a up curve... last year hit 6 figures in my main account which i started with 2k 3 years back.... Prop firm/ flipping small accounts with 1:500 leverages are side hustles for the adrenaline rush of playing with high lots...
Extreme gut feeling trader
55 traders viewing now