Prop Firm Hub | Page 1713 | 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

  • #34,241
  • Apr 6, 2024 1:08pm Apr 6, 2024 1:08pm
Quoting PropDude1234
{quote}FTMO want to have their cake and ear it. They give 100/1 leverage, which is obviously far too much for any sensible risk management given the drawdown limits. No one needs $10 million of buying power with $10,000 worth of initial drawdown. Higher leverage = more failures, more failed challenge accounts and more fees. However, when people are funded they can take action based on people using the same leverage that causes / part causes others to fail. If they cared about helping their trades manage risk they'd limit the leverage.
Yeah, the standard accounts at FTMO are useless. If you ever used that kind of margin in excess what they provide on SWING accounts you can get caught at FTMO. He was not risking more than 2% on each trade idea. So if you have a small SL in pips measured, why is that a problem when news are 1 hour away or more. These are only excuses not to payout. It is meaningless if they provide officially 100:1 leverage when you cannot use more than 30:1 leverage at all circumstances. It only looks like a trap when you choose the wrong account. I just hope they are not restrictive in relative terms on Swing leverage. Then you cannot have more than 20 lots or so on a 200k account. But even then, if you ever used more than 2% as Stoploss for a swing trade, you could also be considered gambling at FTMO. Given the very high challenge fees, they are not doing a favor for themselves as they can loose some reputation. There was a reason why MFF got the biggest prop, because of such hidden rules and high challenges fees. There will be a new bigger prop than FTMO in the next 12 months or so from now on, I am pretty sure. FTMO is very selfish it seems.
  • #34,242
  • Apr 6, 2024 1:12pm Apr 6, 2024 1:12pm
Quoting UST
{quote} everyone's always banging on about how high leverage equals high risk in trading. But honestly, I think people just simply dont understand the usage of it. Here's the thing: if you're a smart trader who sticks to, let's say, risking just 1% of your trading capital on each trade, whether you're using 1:30 leverage or 1:100 leverage, the risk is the same, right?
Depends how you're assessing risk.

For example:

1) Risk 1% of the account with a 1000 pip stop.

2) Risk 1% of the account with a 10 pip stop.

Theoretically the same amount of risk, but in reality the latter requires 10x the leverage and position sizing which means increased slippage risk and increased slippage relevance i.e. 3 pips of risk on 1) means nothing whilst on 2) it's a 30% extra loss.

Someone taking all trades like 2) is a far riskier trader than 1) and requires far more leverage in order do so, even though both are risking a theoretical 1%.
  • #34,243
  • Apr 6, 2024 1:19pm Apr 6, 2024 1:19pm
Quoting UST
{quote} everyone's always banging on about how high leverage equals high risk in trading. But honestly, I think people just simply dont understand the usage of it. Here's the thing: if you're a smart trader who sticks to, let's say, risking just 1% of your trading capital on each trade, whether you're using 1:30 leverage or 1:100 leverage, the risk is the same, right? It is still 1% doesnt matter the leverage. And when you've got a decently funded account or you're in some trading challenge with a healthy balance, the whole leverage debate seems...
well said, LEVERAGE everything u can in life, not only in trading, that s how u build wealth and maximise ur efforts. whoever says leverage isn t good either hasn t got a freaking clue or he/she working for...u know..A lot of misleading posts lately i ve read on here from so called traders who haven t got a clue in general but hey, it s exactly how it s supposed to be! u have shity posts and great value posts and u just have to know how to navigate them, just like in almost every other aspect in life.
  • #34,244
  • Apr 6, 2024 1:32pm Apr 6, 2024 1:32pm
If I trade (in the challenge account) when there is new, will my payout be rejected? (It is swing account type of challenge).
  • #34,245
  • Apr 6, 2024 1:34pm Apr 6, 2024 1:34pm
Quoting 1odi
{quote} well said, LEVERAGE everything u can in life, not only in trading, that s how u build wealth and maximise ur efforts. whoever says leverage isn t good either hasn t got a freaking clue or he/she working for...u know..A lot of misleading posts lately i ve read on here from so called traders who haven t got a clue in general but hey, it s exactly how it s supposed to be! u have shity posts and great value posts and u just have to know how to navigate them, just like in almost every other aspect in life.
That philosophy worked really well with sub-prime in 2008.

No one is saying leverage isn't good, some are saying excessive leverage isn't.
  • #34,246
  • Edited 11:34pm Apr 6, 2024 1:39pm | Edited 11:34pm
Quoting Quickly
{quote} Do you really? In that case, answer me this: futures are very well, firmly and clearly regulated and CFD's, by comparison, are barely regulated at all - but which market is currently growing and which one is shrinking? Are you sure you really have a clue what you're talking about?!
Futures market is only growing because there are no other options for U.S. traders. Most U.S. traders would have stayed offshore or with prop firms if it wasn't for the whole prop firm and meta quotes crap.
  • #34,247
  • Apr 6, 2024 1:50pm Apr 6, 2024 1:50pm
Week after week... entertaining the same trolls here. But they are like cockroaches; even if you do not feed them, they will keep coming back. Probably, they can sustain off of their own ego and delusions of grandeur.
  • #34,248
  • Apr 6, 2024 2:51pm Apr 6, 2024 2:51pm
Quoting Novazor
traders will always go cfds because they want more leverage
They only want more leverage because they don’t understand how much leverage you can get with futures, and have better regulation and safety and all the other advantages.

Quoting PropDude1234
FTMO want to have their cake and eat it.
However, when people are funded they can take action based on people using the same leverage that causes / part causes others to fail.
If they cared about helping their trades manage risk they'd limit the leverage.
Exactly right, of course.
  • #34,249
  • Apr 6, 2024 3:37pm Apr 6, 2024 3:37pm
Quoting deroty
If I trade (in the challenge account) when there is new, will my payout be rejected? (It is swing account type of challenge).
If you're referring to FTMO, you can trade news in challenge phase. Once funded this is only allowed in swing accounts.
  • #34,250
  • Apr 6, 2024 4:42pm Apr 6, 2024 4:42pm
Quoting woody70
{quote} Futures market is only growing because there are no other options for U.S. traders. Most U.S. traders would have stayed offsore or with prop firms if it wasn't for the whole propfirm and metaquotes crap.
Futures market is also benefiting from the turmoil in the CFD Prop space. The sketchy firms have self imploded (as predicted), the avalanche of denied payouts have tainted the space, etc.
Trade with confidence, trade without fear.
  • #34,251
  • Apr 6, 2024 5:14pm Apr 6, 2024 5:14pm
Anyone knows this prop ? Must be new, they offer 1m account for 3k with 10% MDD. Cheap but not impossible cheap as there are multiple firms offering 200k account for $600 to $700 with promos (or not), and those used to pay (so far). https://x-funded.com/# //Please share any experience here if it is worth a try or total SCAM.
  • #34,252
  • Apr 6, 2024 5:48pm Apr 6, 2024 5:48pm
Quoting UST
{quote} everyone's always banging on about how high leverage equals high risk in trading. But honestly, I think people just simply dont understand the usage of it. Here's the thing: if you're a smart trader who sticks to, let's say, risking just 1% of your trading capital on each trade, whether you're using 1:30 leverage or 1:100 leverage, the risk is the same, right? It is still 1% doesnt matter the leverage. And when you've got a decently funded account or you're in some trading challenge with a healthy balance, the whole leverage debate seems...
Agree 100%

It's the modern day victim mentality. It was the high leverage that made me trade like a degenerate loser.

Personally, I rarely notice or care what leverage I'm given because it will always be more than I'll ever need. My risk management profile is the same per account size regardless of the leverage.

Does FTMO care about me or my success? Completely irrelevant. It has no bearing on the outcome of my trading.

I do me, they do them.
Pride always comes before destruction.... -Proverbs 16:18
  • #34,253
  • Apr 6, 2024 5:58pm Apr 6, 2024 5:58pm
I'll be signing up with Darwinex Zero later tonight and will document my experience here.

I need to trade Forex on Meta4 to feel whole again. I like their model and the cost is minimal.

Done with regular forex props for now. In the meantime, I'll see what I can do with my 50K APEX PA account
Pride always comes before destruction.... -Proverbs 16:18
  • #34,254
  • Apr 6, 2024 9:34pm Apr 6, 2024 9:34pm
Quoting Expo33
I'll be signing up with Darwinex Zero later tonight and will document my experience here. I need to trade Forex on Meta4 to feel whole again. I like their model and the cost is minimal. Done with regular forex props for now. In the meantime, I'll see what I can do with my 50K APEX PA account
Yolo King Jr reporting for duty as well. From monday starting My 10 PA accounts as well. Hope to survive atleast 1 day before going for either my way or margin call
Extreme gut feeling trader
  • #34,255
  • Apr 7, 2024 2:10am Apr 7, 2024 2:10am
Quoting Takisd
{quote} I am thinking the following: I have FTMO already on lower leverage ACG (even though i strongly dislike) 5ers (again above) Funded engineer FXIFY Fundedpeaks even though they have some hidden 2% rule i am starting to see online Fundednext but I will keep well under the radar. If I max fund all those I should have like 3m right?
I take it these firms have their own infrastructure and not using some whitelable provider? Is that correct?
  • #34,256
  • Apr 7, 2024 3:24am Apr 7, 2024 3:24am
Quoting Takisd
{quote} I am thinking the following: I have FTMO already on lower leverage ACG (even though i strongly dislike) 5ers (again above) Funded engineer FXIFY Fundedpeaks even though they have some hidden 2% rule i am starting to see online Fundednext but I will keep well under the radar. If I max fund all those I should have like 3m right?

FXIFY has mt4, mt5 and accepts US traders. Just letting you know in case you missed it.
  • #34,257
  • Apr 7, 2024 4:18am Apr 7, 2024 4:18am
Quoting TrAndy1
Anyone knows this prop ? Must be new, they offer 1m account for 3k with 10% MDD. Cheap but not impossible cheap as there are multiple firms offering 200k account for $600 to $700 with promos (or not), and those used to pay (so far). https://x-funded.com/# //Please share any experience here if it is worth a try or total SCAM.
This doesn't sound right since they are using Purple: Traders can trade Forex, Crypto, and Indices without weekend holding, using the MT4 and MT5 platforms.
  • #34,258
  • Apr 7, 2024 4:22am Apr 7, 2024 4:22am
Quoting FocusWinReal
{quote} I take it these firms have their own infrastructure and not using some whitelable provider? Is that correct?
Some of them yes. But not all. Fundedpeaks for sure is not their own infra.
  • #34,259
  • Apr 7, 2024 4:22am Apr 7, 2024 4:22am
Quoting Contessa22
{quote} FXIFY has mt4, mt5 and accepts US traders. Just letting you know in case you missed it.
This is a reason to stay away not to go near. Metaquotes will remove the US for sure.
  • #34,260
  • Apr 7, 2024 5:08am Apr 7, 2024 5:08am
Attached Image (click to enlarge)
Click to Enlarge Name: GKjSdKebgAAeB25.jpg Size: 40 KB
77 traders viewing now