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  • #34,521
  • Apr 9, 2024 10:54am Apr 9, 2024 10:54am
Quoting montygoldy
{quote} One payout is Mandatory every month??? i didnot know that. My plan was to takeout 500$ from 20 accounts (which will be double of my total eval and pa fees cost) and then grow them to atleast 60k++
Quoting sampat
{quote} Yep it is mandatory. Every month 1 withdraw for atleast 3 months. So you can't make 100K profit and withdraw on 4th month. They are doing to impose consistency rule for 30 days (3 payouts 10 days for each payout).
These prop firms are nothing more then ATM's, so yeah take the 2x2k payouts each month. Don't leave any gravy on the table.
Trade with confidence, trade without fear.
  • #34,522
  • Apr 9, 2024 10:56am Apr 9, 2024 10:56am
Quoting Cryptosurf
{quote} {quote} These prop firms are nothing more then ATM's, so yeah take the 2x2k payouts each month. Don't leave any gravy on the table.
Yep it is always case. It is not Investment account invest 200$ take out 2K. Rinse and repeat. Dont think about 5K or 10K.
Take eval YOLO it and repeat again. Cost of another account is way cheaper than keeping money in and growing it.
  • #34,523
  • Apr 9, 2024 10:57am Apr 9, 2024 10:57am
Quoting sampat
{quote} Forex prop firms doesn't have Big brother (CFTC) behind them The way Apex is advertising their payouts looks to me another MyFF. Hopefully futures cartel doesn't go after them like they did for MyFF.
Theses futures firms disclose how the game is played from the get go. There's no slight of hand magic that led the FX prop being scrutinized. That and they are all playing on the same exchange.
Trade with confidence, trade without fear.
  • #34,524
  • Apr 9, 2024 11:03am Apr 9, 2024 11:03am
Quoting montygoldy
{quote} One payout is Mandatory every month??? i didnot know that. My plan was to takeout 500$ from 20 accounts (which will be double of my total eval and pa fees cost) and then grow them to atleast 60k++
You can just pull $500 x 20 for the 3 months. Keep in mind, though, building a buffer, you are really using your own profits which could be in your own account. I'm not going to explain it here, but you're a smart guy, run the numbers.
In other words, take your $2,000 x 20 twice per month the first three months, then month 4 pull everything, including the buffer....there is no point in continuing. Of course you could rinse and repeat from scratch to accelerate the personal growth.
  • #34,525
  • Apr 9, 2024 11:04am Apr 9, 2024 11:04am
Quoting sampat
{quote} Yep it is always case. It is not Investment account invest 200$ take out 2K. Rinse and repeat. Dont think about 5K or 10K. Take eval YOLO it and repeat again. Cost of another account is way cheaper than keeping money in and growing it.
That and you never know what tomorrow brings. This whole space could get nuked for whatever reasons.
Trade with confidence, trade without fear.
  • #34,526
  • Apr 9, 2024 11:15am Apr 9, 2024 11:15am
Quoting sampat
{quote} They are scam. Youtube it. They will not give funded account. Heard year back they were not giving funded accounts. So now it will be even worse.
Can you please this youtube video ?
  • #34,527
  • Apr 9, 2024 11:43am Apr 9, 2024 11:43am
Quoting TortoiseFX
{quote} Thanks for the advice Capablanca. As I explained previously ... https://www.forexfactory.com/thread/...8#post14812918 ... as a newbie, I was unable to start a new thread, and apologised already to the members of this thread for my intrusion, especially if anyone felt it out of context. Perhaps you missed my previous post? That said, upon reading your latest post, it appears that I can now start a new thread. So, I wonder if you would be my first guest if I did so, and join me to discuss your trading strategy? With thanks...
No worries mate, we're here to help each other. Even discussing strategy (more risk management) is fine if the context is related with props (like what risk we take in prop X and Y, if someone had a big payout how many lots was he using, etc.).

Other than that it's very personal and it's better to be discussed in a separate topic.

And welcome to the topic btw. Looking forward to hear you experiences with props.
  • #34,528
  • Apr 9, 2024 11:48am Apr 9, 2024 11:48am
Quoting montygoldy
{quote} yep..... And the way they doing stuff related to payout seems fishy no payout certificate beyound 5k and 90% below 1k. Check their discord there was payout of 30k of a guy who had too much trouble then they forced him to write a huge essay of "ohh this is the best firm ever bla bla.....". Now no news of him. In my case i am already on their flag list better to milk once it for all. Atleast i'll be able to fight for my first payout lol.....
Damit, this seems like Smart Prop Traders that T&C that they can deny a payout if you deny a youtube interview.
  • #34,529
  • Apr 9, 2024 11:48am Apr 9, 2024 11:48am
Quoting sampat
{quote} Provided you already make 3 withdrawal minimum (each month one) and above withdrawal threshold.
Also also 10 minimum days (for the full withdraw of the 4th month), right ?
  • #34,530
  • Apr 9, 2024 11:49am Apr 9, 2024 11:49am
Quoting sampat
{quote} 1 year back FTMO and all forex prop firms are in same situation. It is all mathematics more signups no payout issues. If anybody is living in illusion of A-Booking and B-booking crap should learn from FTMO It all depends on CFTC as long as futures have their blessing they will thrive. Also futures prop firms give illusion of cheap challenges for example forex prop firm will have 500$ for 100K account (10K drawdown) where as futures prop firm will give 80% discount will still more expensive (34 + 140$ = 210 for 2.5K drawdown for 50K...
That trailing drawdown as you very well know. Stops at around 50500 in a 50k account. So not sure I can compare those formats as long one plays it safe in start. Dont trade like a cowboy in start and why even later for that matter. Then one got all the freedom in the world.
  • #34,531
  • Apr 9, 2024 11:51am Apr 9, 2024 11:51am
Quoting pipmaster77
{quote} You can just pull $500 x 20 for the 3 months. Keep in mind, though, building a buffer, you are really using your own profits which could be in your own account. I'm not going to explain it here, but you're a smart guy, run the numbers. In other words, take your $2,000 x 20 twice per month the first three months, then month 4 pull everything, including the buffer....there is no point in continuing. Of course you could rinse and repeat from scratch to accelerate the personal growth.
Only reason to stay would be if we experience a better slippage in Apex than a real account. Then it makes sense to keep a buffer and milk them up to the threshold where we are paid the 100%. After that better to have all funds in ours own account and get the 100% profits on that capital.
  • #34,532
  • Apr 9, 2024 11:51am Apr 9, 2024 11:51am
Quoting TortoiseFX
{quote} So basically you do all your pivot studies etc on you MT4 charts. Thank you. With respect to fundies I'm familiar with Davit's comprehensive approach outlined here: https://www.forexfactory.com/thread/...2#post12709482 But I wonder Pipmaster how you go about determining market sentiment, or do the two areas overlap? Kind regards,
i DM'd you.
  • #34,533
  • Apr 9, 2024 12:20pm Apr 9, 2024 12:20pm
Quoting Capablanca
{quote} Also also 10 minimum days (for the full withdraw of the 4th month), right ?
Yea 10 days per withdrawal and one withdrawal for each calendar months (3 months) so one needs at least 30 trading days of consistency.
  • #34,534
  • Apr 9, 2024 12:23pm Apr 9, 2024 12:23pm
Quoting Capablanca
{quote} Only reason to stay would be if we experience a better slippage in Apex than a real account. Then it makes sense to keep a buffer and milk them up to the threshold where we are paid the 100%. After that better to have all funds in ours own account and get the 100% profits on that capital.
I don't think slippage is a issue unless trading news. I see slippages are way less than forex CFD brokers. Plus one cannot trade like prop firms on personal account as margin required for 1 NQ is 20K . So if one needs to trade 10 lots like prop firm challenge 50K account one needs atleast 250K
  • #34,535
  • Apr 9, 2024 12:46pm Apr 9, 2024 12:46pm
Quoting TheDoug
That's why as retail traders, our job is to nickel and dime, to jab and move, to don't stay in the market for too long. Get in, get your 1% daily, get out.
-Agreed. And learn to work the system, even if you know that the odds are stacked against you.
  • #34,536
  • Apr 9, 2024 12:47pm Apr 9, 2024 12:47pm
Quoting sampat
{quote} I don't think slippage is a issue unless trading news. I see slippages are way less than forex CFD brokers. Plus one cannot trade like prop firms on personal account as margin required for 1 NQ is 20K . So if one needs to trade 10 lots like prop firm challenge 50K account one needs atleast 250K
My rational is if someone needs 5 contracts x 20 accounts, 100 contracts in a real personal account could be a problem in quiet hours, cleaning several levels in bid or ask but maybe Apex trading videogame is just considering like 5 contracts and then repeat it 20 times in each account with much less slippage (not to speak about 100 contacts margin requirements in brokers that demand full margin like Interactive Brokers - not a problem in AMP).

This is not relevant for me, I was just thinking in out fellows YOLOOOOOOWERS
  • #34,537
  • Apr 9, 2024 12:57pm Apr 9, 2024 12:57pm
Quoting Capablanca
{quote} My rational is if someone needs 5 contracts x 20 accounts, 100 contracts in a real personal account could be a problem in quiet hours, cleaning several levels in bid or ask but maybe Apex trading videogame is just considering like 5 contracts and then repeat it 20 times in each account with much less slippage (not to speak about 100 contacts margin requirements in brokers that demand full margin like Interactive Brokers - not a problem in AMP). This is not relevant for me, I was just thinking in out fellows YOLOOOOOOWERS
Yes only this situation one can benefits from prop firm accounts. 20*10 (200 lots) is only possible in prop accounts. Personal bigger account one needs to use options or some hedging to prevent account fluctuations even for bigger ones.
  • #34,538
  • Apr 9, 2024 1:06pm Apr 9, 2024 1:06pm
Quoting Capablanca
{quote} My rational is if someone needs 5 contracts x 20 accounts, 100 contracts in a real personal account could be a problem in quiet hours, cleaning several levels in bid or ask but maybe Apex trading videogame is just considering like 5 contracts and then repeat it 20 times in each account with much less slippage (not to speak about 100 contacts margin requirements in brokers that demand full margin like Interactive Brokers - not a problem in AMP). This is not relevant for me, I was just thinking in out fellows YOLOOOOOOWERS
Even with that logic you have multiple firms like
Apex - 20
Bulenox - 11 (3 initial and once you pass withdrawal threshold you request additional)
TickTickTrader - 3
TakeProfit - 3
Leeloo - 10
MyFundedFutures - 3
Elite Trading - 3
Top step - 3
Uprofit - 3
Tradeday - xxx
Blusky - xxxxxxxxx

How many more account one needs I think applying more challenges is more beneficial than keeping buffer just for mental thing.
  • #34,539
  • Apr 9, 2024 1:51pm Apr 9, 2024 1:51pm
Hmm...interesting
Inserted Video
  • #34,540
  • Apr 9, 2024 1:51pm Apr 9, 2024 1:51pm
Quoting sampat
{quote} Even with that logic you have multiple firms like Apex - 20 Bulenox - 11 (3 initial and once you pass withdrawal threshold you request additional) TickTickTrader - 3 TakeProfit - 3 Leeloo - 10 MyFundedFutures - 3 Elite Trading - 3 Top step - 3 Uprofit - 3 Tradeday - xxx Blusky - xxxxxxxxx How many more account one needs I think applying more challenges is more beneficial than keeping buffer just for mental thing.
MyFundedFutures can only trade 1 account at a time (for trade copying) once you are funded, according to Discord moderators:

Max Funding Allowed
Manage Capital up to $600,000
Maximum Accounts = 10
Maximum Sim Funded Accounts tradeable at same time = 3
Maximum Live Funded Accounts tradeable at same time = 1
You can pass more than 3 challenges but any accounts above maximum sim funded limits will be in dormant state until you are no longer at maximum capacity of tradeable accounts. Note: You will not be charged any monthly fees on passed challenges in dormant state.

Also, with expert accounts, minis = micros for max contract size, so there's no point in trading micros at all, or go with standard accounts and have to deal with scaling.

I don't see why anyone would go with MyFundedFutures frankly, I'm failing to see enough reasons over Apex.
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