Prop Firm Hub | Page 1795 | 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

  • #35,881
  • May 3, 2024 1:08pm May 3, 2024 1:08pm
Quoting montygoldy
New product from e8markets. Copying futures seems like. Make me pull my retirement and buy their challenge https://blog.e8markets.com/articles/e8-pro-v1-account Also just checking they have removed 200k from 2 step challenege. You can only purchase max account of 100k in there.

The US fx props have been losing market share to the futures props since the whole Meta/US ban disaster.
  • #35,882
  • May 3, 2024 1:26pm May 3, 2024 1:26pm
Quoting montygoldy
New product from e8markets. Copying futures seems like. Make me pull my retirement and buy their challenge
Full Monty, you're the greatest.
A snails pace wins the race :-)
  • #35,883
  • May 3, 2024 1:28pm May 3, 2024 1:28pm
Quoting CableJ
{quote} The US fx props have been losing market share to the futures props since the whole Meta/US ban disaster.
Yes it's simple. If you're going to use prop firms, put your money where they'll pay you.
A snails pace wins the race :-)
  • #35,884
  • May 3, 2024 1:32pm May 3, 2024 1:32pm
My prop firm email: "Good news! cTrader is now available for customers to use!"

Me on prop firm's Discord: "So Americans can use your cTrader?"

My prop firm: "No, but you can still use DX trade!"

Me: "Then why did you send me that email saying I could use cTrader?"

My prop firm: "We just wanted to deliver a consistent message to our customers."
  • #35,885
  • May 3, 2024 1:36pm May 3, 2024 1:36pm
Quoting Trader191
no. i just answered to your text, not to the video.
-Yes. I understand that.
  • #35,886
  • May 3, 2024 1:36pm May 3, 2024 1:36pm
Quoting KarlKraus
people gullible enough to be fooled by them, I suppose.
-Always getting cheap jabs in.
  • #35,887
  • May 3, 2024 1:37pm May 3, 2024 1:37pm
Quoting Capablanca
E8 launched a static 1 step challenge with 2% daily loss.
-What is static about it? Unwritten profit caps?
  • #35,888
  • May 3, 2024 2:19pm May 3, 2024 2:19pm
Quoting montygoldy
New product from e8markets. Copying futures seems like. Make me pull my retirement and buy their challenge https://blog.e8markets.com/articles/e8-pro-v1-account Also just checking they have removed 200k from 2 step challenege. You can only purchase max account of 100k in there.
Damn, boy, make sure you keep some funds for retirement. Warning: You will need money for food and water when retired.
  • #35,889
  • May 3, 2024 2:47pm May 3, 2024 2:47pm
Quoting driven18
{quote} Damn, boy, make sure you keep some funds for retirement. Warning: You will need money for food and water when retired.
Ah misinterpreted. I retired in the context of forex prop firms only after being scammed multiple times. Thanks for the heads up.
Extreme gut feeling trader
  • #35,890
  • May 3, 2024 3:54pm May 3, 2024 3:54pm
Aqua, blueguardian, Myflash - they are done.
  • #35,891
  • May 3, 2024 3:59pm May 3, 2024 3:59pm
Quoting Nsak3y
{quote}-What is static about it? Unwritten profit caps?
I think that existing 1 step challenges were all trailing DD (except Finotive), which didn't make the product very attractive (and I guess it was a nightmare for support to explain to dumb people what a trailing DD means).
Sounds that now a new trend emerged and this 1 step with static DD will be the new fashion in the next coming weeks.
  • #35,892
  • May 3, 2024 4:00pm May 3, 2024 4:00pm
Quoting Takisd
Aqua, blueguardian, Myflash - they are done.
That's a pitty. I wanted to milk Blue a bit more.
  • #35,893
  • May 3, 2024 4:08pm May 3, 2024 4:08pm
I believe others will also copy E8 in this daily profit cap.

Quote
Daily Profit Cap: Stay Consistent
To discourage risky behavior and promote sustainable trading habits, we’ve implemented a “Daily Maximum Profit Cap.” This limits your daily profit to 2% of your initial balance. Instead of aiming for extreme profits in a single trade, you can achieve your 8% target with consistent, well-planned trades over several days (potentially 4 days with 2% profit each).

If they were real props it would be stupid to cap profits. But knowing this is a videogame industry that can't manage risk, it makes sense.

Even if someone had 22 winning trading days in a month they would only win 22 days x 2% => 54.6% if we consider compounding.

This automatically limits big payouts. A 100K account can only have a max of 54.6K payout x 80% and that would have to be someone having 22 winning days, which is not going to happen. Big payouts will stop.

It's probably the most important change ever for sustainability of these casinos.
  • #35,894
  • May 3, 2024 4:37pm May 3, 2024 4:37pm
Quoting Capablanca
I believe others will also copy E8 in this daily profit cap. {quote} If they were real props it would be stupid to cap profits. But knowing this is a videogame industry that can't manage risk, it makes sense. Even if someone had 22 winning trading days in a month they would only win 22 days x 2% => 54.6% if we consider compounding. This automatically limits big payouts. A 100K account can only have a max of 54.6K payout x 80% and that would have to be someone having 22 winning days, which is not going to happen. Big payouts will stop. It's probably...
Even worse imho - they don't allow any EAs unless "it's a trade or risk manager EA" or you own the source code and have it approved up front by and share it with them (for sure I will tell them... NOT...)... They really must be afraid of profitable algo traders... anyways, still have a 100k and a 10k 2-step-account in the first stage, will try to pass these... And as I saw on Discord also MyFundedFX is starting pretty much the same model very soon (couldn't find any info regarding EAs yet though...)
  • #35,895
  • May 3, 2024 4:37pm May 3, 2024 4:37pm
I got quite a lesson on whats going on with most prop firms right now and why their payout ratios became so bad.

Someone from one of the groups abusing props decided they trusted my alias enough to fill me in entirely. I will automate and test. If it works - there is no hope for props, payout cap or not .
  • #35,896
  • May 3, 2024 5:33pm May 3, 2024 5:33pm
Quoting Capablanca
I believe others will also copy E8 in this daily profit cap. {quote} If they were real props it would be stupid to cap profits. But knowing this is a videogame industry that can't manage risk, it makes sense. Even if someone had 22 winning trading days in a month they would only win 22 days x 2% => 54.6% if we consider compounding. This automatically limits big payouts. A 100K account can only have a max of 54.6K payout x 80% and that would have to be someone having 22 winning days, which is not going to happen. Big payouts will stop. It's probably...
The most interesting point is probably the fact that they found a way to prevent traders from passing the challenge in 1 trade. In other words, they will reduce the success rate and save a lot of time (it will take more time to complete the challenge). Paradoxically, there will be only one step and that I think is an excellent idea. If you think about it, what could be more stupid than passing 2 phases ?
  • #35,897
  • May 3, 2024 5:37pm May 3, 2024 5:37pm
Quoting Capablanca
Sounds that now a new trend emerged and this 1 step with static DD will be the new fashion in the next coming weeks.
-But what is actually static about it? Max DD, presumably? I guess it doesn't really matter...
  • #35,898
  • May 3, 2024 5:40pm May 3, 2024 5:40pm
Quoting Takisd
Someone from one of the groups abusing props decided they trusted my alias enough to fill me in entirely. I will automate and test. If it works - there is no hope for props, payout cap or not .
-I am not even trading with FX props, but it's kind of annoying that there are groups of people cheating like this. It's just very selfish as it ruins everything for everyone else.
  • #35,899
  • May 3, 2024 5:42pm May 3, 2024 5:42pm
Quoting Nsak3y
{quote}-I am not even trading with FX props, but it's kind of annoying that there are groups of people cheating like this. It's just very selfish as it ruins everything for everyone else.
they are doing it to futures as well.
  • #35,900
  • May 3, 2024 5:51pm May 3, 2024 5:51pm
Quoting Takisd
they are doing it to futures as well.
-Any way to combat against it?
72 traders viewing now