Prop Firm Hub | Page 1859 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 33 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

  • #37,161
  • May 31, 2024 7:11am May 31, 2024 7:11am
Quoting fx_rookie
No, this is not the case. I have 10 evals and 10 PA. I opened them before all this bullshit. I do not wait for payout, I do not trade DCA, I do not trade stradle ORB. I do not see the problem with this strategies too. It's all about the money. I am sure that people who DCA have better longevity for a while. It's all about the money that Apex do not want to pay them. My comments are on the new situation.
ORB is not forbidden, as far as I see in their rules.
Straddling and strangling yes but that is not new. I have the bad habit of copying the conditions I signed and this is from March (pardon the format but it's like it came from the signing form).

Quote
Going for a big windfalls, lucky trades, news trades, straddles, strangles,
risking entire account, flipping contracts, blowing through multiple PA account in short time seeking big lucky
windfall, using a withdrawal strategy, or racking up number of days by flipping, or any other trading that does not
specifically meet the guidelines above regarding a consistent trading plan are in direct violation of the PA Contract
and are disqualified trades / trading days which may be removed from your PA Balance.

For the DCA we may not agree with the exclusion but it was there too. Either we accept it or move somewhere else

Quote
Trader understands Company is seeking "to fund and payout" traders who follow a consistent trading plan in size, stops,
and targets. This means not trading max or larger contracts on one trade, seeking “lucky windfalls” while trading micros
the rest of the time, or flipping contracts just to show a "trading day", not constantly changing sizes, not dollar cost
averaging, not doing high-frequency trading, and being consistent in the trading plan, including your entries, stops,
and take profits.

I don't really know where the polemic is coming from.

And, again, where is that rule that says we need to record ourselves trading. I'm not saying it doesn't exist. I just want to read it. Everybody is talking about it but I have not seen anything.
  • #37,162
  • May 31, 2024 7:11am May 31, 2024 7:11am
Quoting fx_rookie
OK : ) Wish you best! It seems that there is nothing I can discuss with you.
You can discuss all you like. I’m all ears. But it’s evident you get easily shaken out by things/noise with very little confidence in what you’re doing.
Trade with confidence, trade without fear.
  • #37,163
  • May 31, 2024 7:35am May 31, 2024 7:35am
My flash seems to go on having payout problems. These print screens are recent (a week ago) and on them it is assumed by Blake himself that the payout is approved and will be paid (not saying when).
https://x.com/Parameshwar__/status/1796249115892089142

P.s. This is the kind of proof I like to see when we're talking or warning about props.
  • #37,164
  • May 31, 2024 7:38am May 31, 2024 7:38am
Takisd are these costs to start a broker and prop firms reasonably correct ?
https://x.com/anish8fx/status/1796086536871834011
  • #37,165
  • May 31, 2024 7:43am May 31, 2024 7:43am
Quoting KarlKraus
{quote} But plenty of time to deny that there's any evidence. My case rests.
You don't need evidence to prove innocence, it is needed to prove guilt. So, yes, your case rests.
That would be like you being charged with murder and instead of them needing evidence to prove your guilt, the burden of proof would be on you to prove your innocence......c'mon man, if there is so much.......SHOW US!!!!!!
  • #37,166
  • May 31, 2024 7:47am May 31, 2024 7:47am
Quoting Capablanca
Takisd are these costs to start a broker and prop firms reasonably correct ?

I’m not Takis (thank God) but the figure there of $5,000 per annum for legal/accountancy is so obviously ludicrously low that it’s just laughable. (The major cost of staff salaries and associated employment costs are excluded, but to be fair he does specify that.)
  • #37,167
  • May 31, 2024 7:52am May 31, 2024 7:52am
Quoting pipmaster77
{quote} You don't need evidence to prove innocence, it is needed to prove guilt. So, yes, your case rests. That would be like you being charged with murder and instead of them needing evidence to prove your guilt, the burden of proof would be on you to prove your innocence......c'mon man, if there is so much.......SHOW US!!!!!!
It should readily apparent…but it’s not. In his world obscure reddit post and a discussion thread is all he needs.

Meanwhile when we were seeing FX Props sinking all the socials were flooded with claims, Twitter, Facebook? YouTube, instagram, all of them. So that naturally set off alarm bells, as it should.
Trade with confidence, trade without fear.
  • #37,168
  • May 31, 2024 8:03am May 31, 2024 8:03am
Quoting Cryptosurf
{quote} You can trade the ORB, what you cant do tho is straddle the ORB.
Anything you SHOULD NOT do if trading a personal account........straddle the open, straddle the news, add to losers is prohibited......Imagine that, the nerve of them.
  • #37,169
  • May 31, 2024 8:11am May 31, 2024 8:11am
Quoting pipmaster77
{quote} Anything you SHOULD NOT do if trading a personal account........straddle the open, straddle the news, add to losers is prohibited......Imagine that, the nerve of them.
I believe DCA will prevent HELL lot of payouts . It will save Apex tonns of money. I agree DCA will blow accounts too but at the same time it will prevent huge payouts. HUGE drawdown and HUGE profits are because of DCA.
  • #37,170
  • May 31, 2024 8:14am May 31, 2024 8:14am
Quoting fx_rookie
Seen a bunch of tricks in different brokers. Back in time there was a thing called Metatrader Virtual Dealer Plugin, which was used to mess with trades. I am pretty sure that there are more sophisticated ways to control what they want.
Interesting. Would that be why my personal account goes way slow at news or near news? Not server dropping off but platform becoming like wearing lead shoes doing ballet (balay not let) kind of thingy.
  • #37,171
  • May 31, 2024 8:32am May 31, 2024 8:32am
Quoting FocusWinReal
{quote} Interesting. Would that be why my personal account goes way slow at news or near news? Not server dropping off but platform becoming like wearing lead shoes doing ballet (balay not let) kind of thingy.
What broker u use for personal account?
  • #37,172
  • May 31, 2024 8:32am May 31, 2024 8:32am
Quoting sampat
{quote} I believe DCA will prevent HELL lot of payouts . It will save Apex tonns of money. I agree DCA will blow accounts too but at the same time it will prevent huge payouts. HUGE drawdown and HUGE profits are because of DCA.
I agree. I enter all of my "positions" in a series of pre-determined trades. I already have my risk set though.....so if I am risking 2%, I may have 5 trades risking 0.4% each......In other words, I am not precise enough on my entries, but I have a "range" of where they should be.
The APEX rule is not designed for folks like me, the rule is for folks that have a losing trade and just start blindly adding hoping for it to recover.
Unfortunately, I will be impacted, but the workaround is truly right in front of our faces.......if you are trading 1 contract and it goes against you, instead of adding a second, simply close and open 2 at the new price.
It still sucks, as I only trade micros, so for me DCA is not gambling or trying for a windfall, as I explained, it is a pre-determined risk prior to opening the position.
  • #37,173
  • May 31, 2024 9:05am May 31, 2024 9:05am
Quoting pipmaster77
{quote} I agree. I enter all of my "positions" in a series of pre-determined trades. I already have my risk set though.....so if I am risking 2%, I may have 5 trades risking 0.4% each......In other words, I am not precise enough on my entries, but I have a "range" of where they should be. The APEX rule is not designed for folks like me, the rule is for folks that have a losing trade and just start blindly adding hoping for it to recover. Unfortunately, I will be impacted, but the workaround is truly right in front of our faces.......if you are trading...
you rock! I am a big DCA trader and typically 25-33% of my regular live profits comes from +swaps. I can hedge and make more money and always win, but its work and takes attention, the older you get, the less you are goign to want to trade, but its $ and I shoot for 0 losing trades, and have thousands of trades with no losses. But I dont use a stop loss order, so that sort of makes it hard to die/ (blow up live account) of 1000 tight stop losses. And in the end your real measure of your traDING ABILITY IS YOUR PF AND YOUR PERCENT GAINS PER YEAR or even quarter month week or day.
  • #37,174
  • May 31, 2024 9:15am May 31, 2024 9:15am
Quoting Capablanca
{quote} So, what happened to your past 20x50K ? They were already busted ? I may missed that in your updates.
this is my 3rd 50kx20.

1. First one got payout - then lost
2. Second time lost of some silly mistake which i mentioned before forgot to clear STOP LOSS contracts.
3. This time Hoping for payout lol. Need to recover the money from the above lost PA's
Extreme gut feeling trader
  • #37,175
  • May 31, 2024 9:22am May 31, 2024 9:22am
Quoting Capablanca
Takisd are these costs to start a broker and prop firms reasonably correct ? https://x.com/anish8fx/status/1796086536871834011
- Company set up - $100 (approx) - Legal, Accountant - $5,000 (annual) - Regulatory Capital, Tier 1 be minimum $250,000. Tier 2 around $50,000, plus ongoing annual costs of around $50,000. - Website & CRM set up at min $30,000, plus ongoing monthly fees. - WL MT5 $120,000 min (annual) - Bridge provider $20,000 (annual) - Risk Management $20,000 (annual) - LP capital $250,000

These are his estimates.

Considering brokers are mostly in regulated environments the company set up is not going to cost $100 (actually its really dumb to have listed it as $100 as just the advice to set up properly would cost more than that). Legal will be towards the 50k mark for a properly set up + on going and accounting will depend if you have an inhouse bookkeeper + auditor or just auditor. Tier 1 of what? tier 2 of what? Some places dont have capital requirements with the license, in the EU it starts at 50k eur and goes up to 750k eur if you are making a market. You can get away with the 125/150k eur if you have a deal with an LP who will deal for you but its highly frowned upon.

Website and crm 30k? Why not build your own for that much and have the ongoing as like 2k a month. MT5 seems fine, bridge 20k? maybe if you are a clueless moron and people dont respect you. Risk management for what? Why are you paying for that? Do you not know the basics of running a broker when you open? but what license did you get? LP Capital 250k? You can use client funds for lp capital so it costs you nothing if you are stp.

Mostly it just says to me the post is stupid. Its far more expensive than he is saying but not for the reasons he is saying.

Also THANK GOD quickly isn't me. I would want to hang myself slowly if I was him.
  • #37,176
  • May 31, 2024 9:28am May 31, 2024 9:28am
Quoting Takisd
Mostly it just says to me the post is stupid. Its far more expensive than he is saying but not for the reasons he is saying.

OMG, wonders will never cease: Takisd actually made an intelligent post. The exception that proves the rule, I guess.
  • #37,177
  • May 31, 2024 9:35am May 31, 2024 9:35am
does anyone here have tried monevis funding or axe funding? both seems lowkey prop firms with no scandals so far
  • #37,178
  • May 31, 2024 9:37am May 31, 2024 9:37am
Just my 2 cents. Whoever cries over Apex rule changes should think outside of the prop world. Are those things legitimately good if you running on your personal accounts. If yes then you should reflect on your life decisions, and you'll know why you are not a profitable trader.

Even whoever is denied payout they are somewhat accepted they did wrong. Because the rules are as clear as day or night, not middle ground. Even Apex is handling it best they let you keep your profits just the thing is you missed a payout cycle thats it.

People posting denied payout videos from random guys. I have seen his streams no strategy just pure recklessness.

I used to give example of Alpine trader. On his recent streams Now it has become sop hard for him to pull any profits a day and mostly frustrated.

I watched all the videos that Darell posted for scams n schemes. I am not promoting or taking sides. However, their firm is in business to find profitable traders and copy trade them not looking for just gamblers aiming to get 1 payout. So i am somewhat agreed to what he is doing by forcing these rules coz except adding a forced stoploss(using mental stoploss and sometimes emotions took over) i was already doing the rest being a net profitable trader.

To the positive side people saying they are going under but they paid out 8.9mil 2 weeks earlier.

In the end Apex not going anywhere and people will start following these rules and payouts will happen. They be on top of futures prop industry for a foreseeable future.
Extreme gut feeling trader
  • #37,179
  • Edited 10:00am May 31, 2024 9:50am | Edited 10:00am
Quoting montygoldy
Just my 2 cents. Whoever cries over Apex rule changes should think outside of the prop world. Are those things legitimately good if you running on your personal accounts. If yes then you should reflect on your life decisions, and you'll know why you are not a profitable trader. Even whoever is denied payout they are somewhat accepted they did wrong. Because the rules are as clear as day or night, not middle ground. Even Apex is handling it best they let you keep your profits just the thing is you missed a payout cycle thats it. People posting denied...
That statement is ridiculous. Prop firms forcing the newer and newer rules for only one reason, is to get to free 95% of unsophisticated traders from their money.
At this point in this thread I only know 2 traders who actually make money consistently(Crypto and Pip), the rest only think, they do.

Monty, with all due respect, wake up.
  • #37,180
  • May 31, 2024 9:50am May 31, 2024 9:50am
Quoting KarlKraus
{quote} OMG, wonders will never cease: Takisd actually made an intelligent post. The exception that proves the rule, I guess.
Comments like this are why you are a clown and no one takes you seriously, even when you make an occasional good point. Almost every comment you post belittles everyone else in this forum, and doesn't make you look smarter or more intelligent or more correct, just more foolish. Like most fools, it is mildly entertaining to watch, but soon gets boring.
36 traders viewing now