Prop Firm Hub | Page 1718 | 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

  • #34,341
  • Edited 3:38am Apr 8, 2024 12:22am | Edited 3:38am
Quoting montygoldy
{quote} not martingale my positions are same size and with fixed loss and one at time.... I built my edge by experience and price action. Then using multiple time frames to build a bias. Then enter at potential places where price i can move in my direction. When i am wrong stop loss hit then enter at another potential spot. Once i have a daily bias its hard for me to switch so after couple losses i stop trading that instrument. If you think thats martingale i would have been banned every where
https://www.forexfactory.com/thread/...5#post14773845

For example, in this image, you have 4 GU positions in loss.
Yes, your multiplier is 1.
Still looks like martingale to me with averaging in mind.
Now if you say I was entering based on different signals from different tf's....then I ask what happened to sl being hit before entering another trade same direction in order to avoid accumulating positions in loss?
Not meaning to put your trading in question.. but just wondering if marty whether intended or not works into your trading.
  • #34,342
  • Apr 8, 2024 12:35am Apr 8, 2024 12:35am
Quoting maltrader
{quote} Not sure. I just started a few weeks ago and trade indices and gold. Not much difference for me. From what I see, https://www.cmegroup.com/markets/fx/...l#venue=globex this is what you're looking for But I haven't seen any of the prop firms offering it. Tried Apex, Bulenox, Top step and MFFu so far.
I registered ninja traders they did not offer EURJPY future
Sad
  • #34,343
  • Apr 8, 2024 12:41am Apr 8, 2024 12:41am
Quoting Stoneyrocks
{quote} I just went over the T&C of the high stakes program , I dont see any mentioning of doing 50 trades for each phase ?
no that’s what it would take me approximately doing the strategy I had plan dx
  • #34,344
  • Apr 8, 2024 12:59am Apr 8, 2024 12:59am
Quoting sampat
{quote} Agree in ideal world it makes sense. But million dollar question is do we live in ideal world? Well with this logic one doesn't even need prop firm. The logic of having prop firm is to earn money as fast as possible before it gets busted. 1% risk in prop firm account is 10%. High leverage is Needed if you are scalping Risk is based on stop loss distance not leverage.
Doesnt change anything what I said?

The leverage is not increasing your risk and with your last sentence you are literally agreeing with what I said in my past post.

Dont understand your point, neither do you it seems.

I also don't know about that screwed 10% logic that people came up with, just because of the drawdown restrictions.

I risk 1% with my prop form account and I get based on that my profit.

That's all there is to it. Leverage or not.
The subconscious mind is in control, not the conscious mind.
  • #34,345
  • Apr 8, 2024 1:52am Apr 8, 2024 1:52am
Quoting UST
{quote} Doesnt change anything what I said? The leverage is not increasing your risk and with your last sentence you are literally agreeing with what I said in my past post. Dont understand your point, neither do you it seems. I also don't know about that screwed 10% logic that people came up with, just because of the drawdown restrictions. I risk 1% with my prop form account and I get based on that my profit. That's all there is to it. Leverage or not.
they re taking the allowed DD, that s why. Anyways, the lower the leverage at 1 disposal the more money u need to have in ur account to be able to trade at a decent size, regardless if it s prop account or personal. Leverage can only help you...those who risk 2 much or add to losing positions or move their sl ETC would still lose all their money only a tad slower without leverage because of the margin requierments. New week begun, may the candles flow in ur favor. Cheers
  • #34,346
  • Apr 8, 2024 2:06am Apr 8, 2024 2:06am
Good news. https://www.financemagnates.com/fore...g-for-brokers/
  • #34,347
  • Apr 8, 2024 2:56am Apr 8, 2024 2:56am
Quoting Takisd
{quote} no that’s what it would take me approximately doing the strategy I had plan dx
T&C says 1% is a suggestion not are requirement. I believe I raised this issue back when I took the challenge. I most certainly would have risked more than 1% on challenge phase without issue. I have not done so on funded however, very likely they would pull you up on it if you did. I would start with ACG from your dwindling list. Dending on what instrument & strat you onlyneed to consider 40 lot max rule & minimum 2 min trade duration average.
  • #34,348
  • Apr 8, 2024 3:24am Apr 8, 2024 3:24am
Last night I replaced 5ers with Fortraders and bought a 100k account at fortraders.

I put a stop loss at +2 on US30, it hit and slipped to -4. The trade was only 10 lots of 1 contract.

I checked depth and ticks institutionally at the time an this is clearly fraud. Such a tiny trade gets slipped so much during quiet market - it is essentially 1 lot of FX.

I should add, I have 50 lots somewhere else and it slipped 1 tick.
  • #34,349
  • Edited 6:24am Apr 8, 2024 5:08am | Edited 6:24am
Quoting ladder
{quote} Let us know if you receive a warning email from FTMO about gambling/one-sided betting. Your margin level was 157%.
no issues at all. received kyc email
Extreme gut feeling trader
  • #34,350
  • Apr 8, 2024 5:11am Apr 8, 2024 5:11am
Quoting OutThere
{quote} https://www.forexfactory.com/thread/...5#post14773845 For example, in this image, you have 4 GU positions in loss. Yes, your multiplier is 1. Still looks like martingale to me with averaging in mind. Now if you say I was entering based on different signals from different tf's....then I ask what happened to sl being hit before entering another trade same direction in order to avoid accumulating positions in loss? Not meaning to put your trading in question.. but just wondering if marty whether intended or not works into...
thats one of yolo trading screenshot to pass the challenge quickly but still i open 1 position first if i think its a golden setup i open another with same size. In martingale you have to increase lot size as you go in drawdown. I dont do it.
Extreme gut feeling trader
  • #34,351
  • Apr 8, 2024 5:42am Apr 8, 2024 5:42am
Quoting montygoldy
{quote} thats one of yolo trading screenshot to pass the challenge quickly but still i open 1 position first if i think its a golden setup i open another with same size. In martingale you have to increase lot size as you go in drawdown. I dont do it.
Your us30 trades look like they might have been once all negative and moved into positive but instead of getting out at BE+some, you hung on until most of them are way in positive.
Martingale is not defined by if you increase size with dd. That is just a multiplier. It can be even less than 1.00 and martingale with diminishing lots.
Also, no one enters a first trade thinking this one is a bad trade but in order to do my beloved martingaling ways, I have to enter into a bad trade first. No. It's always to enter that 1st trade and win it. When it doesn't happen, then martingale comes in as a defense.

Look, there is no shame in using martingale.

Look at this guy. https://www.metalsmine.com/thread/po...9#post14822709
King of martingale. He makes good money and has a lotta traders cheering him for it.

I donno, maybe it is the stigma you don't like or them props banning you.
Hmmm...I wonder why they'd want to ban traders that are successful?
  • #34,352
  • Apr 8, 2024 5:50am Apr 8, 2024 5:50am
Quoting HengkiTjen
I'm only trade EURJPY
If I wanna trade Future, what is your recommend?

6J, Yen futures.
  • #34,353
  • Apr 8, 2024 6:28am Apr 8, 2024 6:28am
Quoting OutThere
{quote} Your us30 trades look like they might have been once all negative and moved into positive but instead of getting out at BE+some, you hung on until most of them are way in positive. Martingale is not defined by if you increase size with dd. That is just a multiplier. It can be even less than 1.00 and martingale with diminishing lots. Also, no one enters a first trade thinking this one is a bad trade but in order to do my beloved martingaling ways, I have to enter into a bad trade first. No. It's always to enter that 1st trade and win it....
me personally i dont check my trades every second … so open a position and add tp n sl check after hours. Sometimes as hou mentioned price went positive and come back i added a position (which is a ocassionql situation i do it ) coz of emotions thats why i lose some…in general most of the times i stick to one trade..
Extreme gut feeling trader
  • #34,354
  • Apr 8, 2024 6:33am Apr 8, 2024 6:33am
Quoting montygoldy
{quote} me personally i dont check my trades every second … so open a position and add tp n sl check after hours. Sometimes as hou mentioned price went positive and come back i added a position (which is a ocassionql situation i do it ) coz of emotions thats why i lose some…in general most of the times i stick to one trade..
Ok, so you are doing what it takes to win.
Totally makes sense. NP.
  • #34,355
  • Apr 8, 2024 6:49am Apr 8, 2024 6:49am
Quoting KarlKraus
{quote} 6J, Yen futures.
But that's USDJPY,
  • #34,356
  • Apr 8, 2024 7:00am Apr 8, 2024 7:00am
I now have another trade +4 trailing stop to counter the slippage - lets see the result. If it hits that is.
  • #34,357
  • Apr 8, 2024 7:23am Apr 8, 2024 7:23am
Quoting HengkiTjen
{quote} But that's USDJPY,
Yes, the only way to trade crosses is to buy one and sell the other.....futures is not where you want to be if you trade crosses.
  • #34,358
  • Apr 8, 2024 7:26am Apr 8, 2024 7:26am
Quoting HengkiTjen
{quote} But that's USDJPY,
I’ve mentioned earlier in this thread, and you no doubt know that if you want crosses you ideally trade spot or trade EY via a synthetic position on Futs via combination of 6E and 6J….
  • #34,359
  • Apr 8, 2024 7:49am Apr 8, 2024 7:49am
Quoting Takisd
I am removing the5ers from my list. I was going to start with them but as I was preparing I read deeper into the rules. The profit day rule and the max loss rule make the program sustainable for the company but stupid for the trader. Although the end result is achievable, I have no interest in doing 50 trades to pass their first phase and then being equally as limited in phase 2 and on the live account. I respect the idea that it is a sustainable model, but it doesn't fit my purpose. At least not as a starting account for what I plan to do. I might...
Max loss is indicative, unless they come back to you specially asking not to risk more than 1%. I'm sure I had trades where I may have lost almost 2%. Not many but some.
The 0.5% rule is a problem if your daily gains are very small.
But on a 100K account 0.5% is just $500 (repeated 3 times). Can't you have 3 days with $500 just to fulfil the condition ?
  • #34,360
  • Apr 8, 2024 7:50am Apr 8, 2024 7:50am
Quoting ladder
{quote} Let us know if you receive a warning email from FTMO about gambling/one-sided betting. Your margin level was 157%.
What is considered a one-side betting ?
48 traders viewing now