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Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

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  • #36,621
  • May 16, 2024 6:38am May 16, 2024 6:38am
Quoting Capablanca
{quote} Not new but in a nutshell in funded: 30% consistency 20% max flipping days SLs in orders Max 1:3 risk (risking 3 to profit 1) No DCA (apparently adding 1 position in loss is still fine) Consistency in sizing during trading days. No windfall days. No news strategies. Min 10 days for each payout. Maybe I'm forgetting something but this is what I recall
Goodness. I'll need a full time risk manager looking over my shoulder to make sure I don't fall foul of any of those.
  • #36,622
  • May 16, 2024 6:39am May 16, 2024 6:39am
Quoting Capablanca
{quote} For what I read in Discord they seem to have problems today with Tradovate. I guess Tradovate is not copping with so much madness in futures right now.
Thanks. All the accounts are in order now.
  • #36,623
  • May 16, 2024 7:07am May 16, 2024 7:07am
Quoting montygoldy
{quote} I have them thats what i am saying already max allocated 20x50k. 900$ profit in each of them and 400$ drawdown deficit. Purchased 40 evals as backup which i never did with any other firm ever. Also a REVIEW for e8markets. I tried their v1 pro model. Man, their spreads are out of this world. May be they are running the firm on MARS or PLUTO but not on EARTH for sure. 45-48 cents on xaususd 1pip on cable 3-3.5 points on Dow 65-68$ on BTCUSD (I mean is it for real) Excluding slippages When i asked the support...
Conditions wise, the 5%ers are the only FOREX prop worth any effort now. They also pay and have the longest reputation. Otherwise, trade futures.
  • #36,624
  • May 16, 2024 7:10am May 16, 2024 7:10am
Quoting Capablanca
{quote} The problem with this kind of rules is that we're always afraid that they use them to ban us for small details or even errors. For example 1:3 max risk. What if I don't set SLs ? How do they know what was my R/R ? By the previous days ? OK, but today may be a Monday, which I think will be a choppy day and I'll try to get 1:1 in bigger positions and tomorrow may be Wednesday CPI and I will try to capture a good move with 1:5 and very small position. Another example: I buy at 5000, SL at 4900, TP at 5300. Fine, it's 1:3. But now the market...
Not to mention, adding to winners is a 100% sure fire way of hitting your trailing DD (before you hit buffer) waaaaaaaaaaaaaaaaaaaaaaaaaay quicker if trade moves against you.
  • #36,625
  • May 16, 2024 7:23am May 16, 2024 7:23am
Quoting pipmaster77
{quote} Not to mention, adding to winners is a 100% sure fire way of hitting your trailing DD (before you hit buffer) waaaaaaaaaaaaaaaaaaaaaaaaaay quicker if trade moves against you.
Thanks for the warning, I guess I am not going to try that,, my 2 previous PA accounts half way to payout were killed because of trailing DD..
That is why I left Futures last time
  • #36,626
  • May 16, 2024 7:32am May 16, 2024 7:32am
Quoting MoHoSK
Is AscendX dead ? I cant log in to my account, i cant open my MT5 desktop or MT5 mobile version. {image}
Moving to a new broker. Think account will be reactivated on Monday
  • #36,627
  • May 16, 2024 7:35am May 16, 2024 7:35am
Quoting maltrader
{quote} Moving to a new broker. Think account will be reactivated on Monday
Why not doing it on the weekend ?
  • #36,628
  • May 16, 2024 7:41am May 16, 2024 7:41am
My question is how they will watch stop loss?
Lets say I have 50K account and I am risking 2.5K to make 500$. If my strategy is winning 10 and loosing 1 or 2.
I am ok with blowing up account and take 500$ profit daily. How they will prevent that? Futures apps like ninjatrader or quantower is not like MT4 where they see SL orders.
Let us consider 2 scenario
1. If I won 500$ daily for 8 days and flip for 2 days. I will be eligible for payout
2. If I make 500 daily for 2 days and on 3rd day I blew up account. How will they figure out

My concern is by the time they figure out account is already gone...
  • #36,629
  • May 16, 2024 7:48am May 16, 2024 7:48am
Quoting maltrader
{quote} Moving to a new broker. Think account will be reactivated on Monday
Strange. I though they were an ACG whitelabel
  • #36,630
  • May 16, 2024 8:10am May 16, 2024 8:10am
Quoting pipmaster77
{quote} Not to mention, adding to winners is a 100% sure fire way of hitting your trailing DD (before you hit buffer) waaaaaaaaaaaaaaaaaaaaaaaaaay quicker if trade moves against you.
Adding to winners has to be somewhat strategic. At most I’ll add one more order of same size. Some add a bazillion micros 10 pts apart which doesn’t make much sense at all. Maybe in CFD land but definitely not in futures where price is averaged in.
Trade with confidence, trade without fear.
  • #36,631
  • May 16, 2024 8:20am May 16, 2024 8:20am
Quoting Capablanca
{quote} Strange. I though they were an ACG whitelabel
I'm not sure. It was Taurex previously.
  • #36,632
  • May 16, 2024 8:27am May 16, 2024 8:27am
Quoting Cryptosurf
{quote} Adding to winners has to be somewhat strategic. At most I’ll add one more order of same size. Some add a bazillion micros 10 pts apart which doesn’t make much sense at all. Maybe in CFD land but definitely not in futures where price is averaged in.
But what if each order has their own limit take profit order.
For example if my intent is to buy 1 NQ lot lot in between 17900 and 18000 area.
I would break down 1 NQ into 10 MNQ with 10 pip grid till it reaches my SL lets say 17880 area with each order has limit take profit of 10 pips.
So as long as price jumps in these area I will add position till my trade is valid and more it jumps in range more I make money as every 10 pip i take proift and re-enter.
For example
Trade 1 at 17900 with target 17910
If it goes to 17890 I would like to buy 1 more with target of 17900 even though it is future my first order gets closed at 17900 with breakeven but I still have 17910 limit order sitting on platform and cycle continues.
One can argue why not just wait till 17950 and take 1 standard lot in one order. Problem with this approach is Trailing DD plus price may not reach at that level and My SL needs to be real tight where as dividing trades into smaller units gives me wide range less risk and more time to correct and wait. I can get in and out quick which less drawdown and more profits...
  • #36,633
  • May 16, 2024 8:38am May 16, 2024 8:38am
Quoting pipmaster77
{quote} Conditions wise, the 5%ers are the only FOREX prop worth any effort now. They also pay and have the longest reputation. Otherwise, trade futures.
Is FTMO failing them?
how about Audacity Capital?
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #36,634
  • May 16, 2024 8:47am May 16, 2024 8:47am
MFFutures

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  • #36,635
  • May 16, 2024 8:49am May 16, 2024 8:49am
Quoting sampat
{quote} But what if each order has their own limit take profit order. For example if my intent is to buy 1 NQ lot lot in between 17900 and 18000 area. I would break down 1 NQ into 10 MNQ with 10 pip grid till it reaches my SL lets say 17880 area with each order has limit take profit of 10 pips. So as long as price jumps in these area I will add position till my trade is valid and more it jumps in range more I make money as every 10 pip i take proift and re-enter. For example Trade 1 at 17900 with target 17910 If it goes to 17890 I would like to...
That’s a CFD strategy that’s a recipe for disaster with futures. Especially with trailing DD. I wouldn’t even attempt that with a live futures account either.

Some could argue what you’re doing is a bad habit that needs to be stopped. I used to do something similar but no longer.

Get more precise with your entries with a larger amount instead of throwing a fistful of darts.
Trade with confidence, trade without fear.
  • #36,636
  • May 16, 2024 9:08am May 16, 2024 9:08am
Quoting Stoneyrocks
MFFutures {image} {image}
Some BS pricing. Here firms are giving 20-30$ challenges for 50k and he is asking fo 300$ bucks upfront. Plus no point of risking a single dollar in this firm until they give 50$ all challenges offer like april. Remember i confirmed they have a rule with scalping or something. Trade should be at least 10points and more than a minute or so.
Extreme gut feeling trader
  • #36,637
  • May 16, 2024 9:58am May 16, 2024 9:58am
The new ascendx broker is the one deifunded used .. do with that as you will
  • #36,638
  • May 16, 2024 10:59am May 16, 2024 10:59am
Quoting _BBKing_
top step made 1509,60$ yesterday {image} {image} and 1506,96$ today {image} I wonder how they will manage the 50% consistency target will I have to make 2,94$ profits to confirm it or will they accept that as done? Time will tell. Btw, the TILT indicator is exactly what I expected it to be. {image} No matter prop firms, real account, demo account, fantasy account, trading off a 50$ or a 500k $ account. Retail traders will always behave the same. Else, it's the brokerage and prop industry faking all data in order to push people following...
That’s a great goal btw. Got exactly 50% x day, and. 3k profits.
waiting for the express funded account activation while still trading another 50k combine where I almost got stopped out (matter of 100$) now back to break even.

next week gonna be amazing.
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90% of traders use TA, indicators and prediction
  • #36,639
  • May 16, 2024 11:01am May 16, 2024 11:01am
Quoting montygoldy
{quote} Some BS pricing. Here firms are giving 20-30$ challenges for 50k and he is asking fo 300$ bucks upfront. Plus no point of risking a single dollar in this firm until they give 50$ all challenges offer like april. Remember i confirmed they have a rule with scalping or something. Trade should be at least 10points and more than a minute or so.
hey, just a question about topstep
do you get payouts via wise?
I wonder what’s the best option since I’m in Italy and foreign wire transfers require a lot of days…
but wise has not really a good reviews in trustpilot with lots of people claiming their accounts been closed with no reason
90% of traders use TA, indicators and prediction
  • #36,640
  • May 16, 2024 11:12am May 16, 2024 11:12am
Quoting Takisd
The new ascendx broker is the one deifunded used .. do with that as you will
There was a guy in twitter claiming against RealFundsTrader not paying because of some hidden news rule and I'm 99% sure that it was also taurex.
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