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Anyone trading with a Prop firm 6 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
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Prop Firm Hub

Quoting fx_rookie
I think they look at the Profit for 1 day to be less than 30% of overall profit for the period.
Quoting Expo33
Who knows, who cares. ... They earned my 1 star review.
Quoting Olarion1975
{quote} They are legit. But I prefer smaller monthly fee + activation fee rather than paying everything upfront.
I think its only $102 for 50k account. IS that too much ?
Quoting Quickly
why would anyone ever trade 30 lots of MES (commission about $45) rather than 3 lots of ES (commission about $15 for the same returns)?!

Lol, his broker must really love him, though: they’d like to have another 10 clients who do that!
Quoting KarlKraus
{quote} Lol, his broker must really love him, though: they’d like to have another 10 clients who do that!
//-----

sure hope so..... and if 30$, times 20 accounts, would be all it took, i'd put that on auto bi-weekly bank withdrawal.......... if they would let me sign up for another 200, it would be a done deal......

but it's not all about me......
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as a matter of fact, friday was all about takisd's 3 words and perhaps a very very rare glimpse into his trading...... just in case you missed it, here's the quote

momentum during session.. Its not that hard tbh if you arent greedy.

could we create a trading system from those 3 words...... momentum during session..

he did not define momentum.....

he did not define session......

he did not define timeframe.....

so i used stochastic and london/new york...... and 14 periods...... 1 minute thru 1440.....

but where would the actual entry's be...... that's more difficult to put into words...... it has to do with timing each periods rising/falling momentum relative to each other timeframe......

enter at the largest expected value within those conditions..... similar to Ernst Waldfried Josef Wenzel Mach's pendulum......

takisd's 3 words ended up just over 4000 with 78$ in commissions......

so there is my 30$ worth... and here's my 3 words......

i'm not greedy.......h
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Ernst Waldfried Josef Wenzel Mach

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to trade and code, keep both simple... no call to impress....h
Quoting Takisd
{quote} I am sorry for your loss. For 9.99 if you buy my course you will learn the secret that futures prop firms dont want you to know.
I'm already being mentored by KarlcomesQuickly Inc. for $999/month but thx for the offer.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} I'm already being mentored by KarlcomesQuickly Inc. for $999/month but thx for the offer.
I heard the chapter on "how to excel at the online tantric handy" is quite intriguing.
Quoting Expo33
{quote} A "consistency" rule that they can enforce with inconsistency. Gotta love it.{image}
I wont get paid either by apex since I didn't use consistent contracts. Good thing I paid lifetime fee, I am just going to use the accounts as practice.
I got 4x$50K and 5 x $250K pa during the promotion, with all those payment denials going on with apex, I lost interest too. I got to the point that I don't even care about my Apex PA accounts, I won't get paid anyway since I violated all the rules in their book for them to deny my payouts
Currently, I prefer topstep
I have heard only for denials because of DCA and 30% consistency, but I am afraid too that they will start introducing other ones. They paid very fast to the affiliate influencer youtubers just to calm down the people, but seems that they did not give up on denials at all. The worst is that they continue with their subjectivity instead of making all rules crystal clear.
I bought accounts at the beginning of the Promo when retroactive rules policy and denials were not yet introduced, but I guess I wouldn't do it if promo was starting now. I use different size contracts too, so if they start to refuse payouts for this reason I guess I won't be paid.
Regarding Apex, if the rules are followed, then you should be fine. There is nothing subjective or ambiguous about it, I think. If you didn't follow the rules and you know it, or, you didn't bother to fully-read the rules prior to starting, then you can only blame yourself for that.

If I am wrong, then please provide credible information to that fact so that we can all benefit. Oftentimes, speculative fear and doubt, especially when unwarranted, can do more harm than good.
Quoting Nsak3y
Regarding Apex, if the rules are followed, then you should be fine. There is nothing subjective or ambiguous about it, I think. If you didn't follow the rules and you know it, or, you didn't bother to fully-read the rules prior to starting, then you can only blame yourself for that. If I am wrong, then please provide credible information to that fact so that we can all benefit. Oftentimes, speculative fear and doubt, especially when unwarranted, can do more harm than good.
Well that sounds good and I agree but when the company's verbiage includes "it's not a hard and fast rule" and "at the company's discretion" it leaves the door open to potential surprises.

19 bucks! One day to pass! Kind of paints the same old picture in the industry.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
Well that sounds good and I agree but when the company's verbiage includes "it's not a hard and fast rule" and "at the company's discretion" it leaves the door open to potential surprises.
-As I understand it, that is only applicable if the rule is broken. If the rule is not broken, then there is no discretionary interpretation. Having discretion if/when the rule is broken, allows them some flexibility when traders make honest slip-ups. Perhaps it would not feel not good if you were one of those traders and were still rejected, but the rules are clear, nonetheless.
Rules are clear when they can be put in numbers. The only clear thing with Apex contract is that they can refuse your payment when they decide.
Quoting fx_rookie
The only clear thing with Apex contract is that they can refuse your payment when they decide.
-Technically, any firm can refuse payment and terminate services whenever they see fit to do so. It is up to traders to hold these firms accountable, if and when, they elect to abuse the terms that all parties have agreed to. Likewise, we as traders, should not abuse our position by making false and/or unfair claims.
Quoting Expo33
{quote} Well that sounds good and I agree but when the company's verbiage includes "it's not a hard and fast rule" and "at the company's discretion" it leaves the door open to potential surprises. 19 bucks! One day to pass! Kind of paints the same old picture in the industry.
Did they gave possible solution to fix it? Lets say if I have wind fall trading and done some DCA and make 5K on 50K account and they deny payout.
Will I have to make 5K again within 10 days by following rules and request payout. Those things are not clear...they said they will not remove profits but I can trade 10 days with 100$ profit and request payout will they accept it?
Quoting sampat
{quote} Did they gave possible solution to fix it? Lets say if I have wind fall trading and done some DCA and make 5K on 50K account and they deny payout. Will I have to make 5K again within 10 days by following rules and request payout. Those things are not clear...they said they will not remove profits but I can trade 10 days with 100$ profit and request payout will they accept it?
No they didn't give any solution. Yeah I was reading somewhere that I would have to run my account up to 59K before requesting again since I was at 54.5K. With the rebill date being tomorrow definitely not worth it
Pride always comes before destruction.... -Proverbs 16:18
Quoting Nsak3y
{quote}-As I understand it, that is only applicable if the rule is broken. If the rule is not broken, then there is no discretionary interpretation. Having discretion if/when the rule is broken, allows them some flexibility when traders make honest slip-ups. Perhaps it would not feel not good if you were one of those traders and were still rejected, but the rules are clear, nonetheless.
What will they say when I open up 2 contracts that I plan on holding for 12 hours with $300 SL risk and then open 8 contracts to scalp with $300 SL risk. They can use their "discretion" to say that I'm gambling or inconsistent.

Either way, if they're offering a subscription service then 2 weeks to make a decision is unacceptable for me. Time is of the essence and they need to do better, especially if they're blabbering on about 25 million in payouts in one month. But then again, the delayed decision is likely part of the plan.

Anyways, no hard feelings here. Plenty of other minefields to play in.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} What will they say when I open up 2 contracts that I plan on holding for 12 hours with $300 SL risk and then open 8 contracts to scalp with $300 SL risk. They can use their "discretion" to say that I'm gambling or inconsistent. Either way, if they're offering a subscription service then 2 weeks to make a decision is unacceptable for me. Time is of the essence and they need to do better, especially if they're blabbering on about 25 million in payouts in one month. But then again, the delayed decision is likely part of the plan. Anyways, no...
Was there a day that was much larger in profit then any other? I realize your experience has been less then stellar. It was quirky for me at first. The payout request periods are odd, but had gotten used to it. My first payout wait time was similar. The requests between the 1st and 5th doesn't happen till the 15th. Anyway I know you stated that indices where not your thing, so its best to stay with what's in your wheelhouse. A majority of my trading is on my private AMP account so Apex is gravy. Like you said there's plenty of minefields to breakdance in.

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Trade with confidence, trade without fear.
Quoting hayseed
{quote} //----- sure hope so..... and if 30$, times 20 accounts, would be all it took, i'd put that on auto bi-weekly bank withdrawal.......... if they would let me sign up for another 200, it would be a done deal...... but it's not all about me...... //------ as a matter of fact, friday was all about takisd's 3 words and perhaps a very very rare glimpse into his trading...... just in case you missed it, here's the quote momentum during session.. Its not that hard tbh if you arent...
What a great write up. There is a rhythm to the market after the open till close. Once you get used to it, then it makes it much easier. Its not so much predictable, it just does what is does intraday (as driven18 puts it). You just ride the momentum and cash out.

Next day wake and do it again.
Trade with confidence, trade without fear.
Quoting Cryptosurf
{quote} Was there a day that was much larger in profit then any other?.
I can't remember it was almost a month ago.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Cryptosurf
{quote} What a great write up. There is a rhythm to the market after the open till close. Once you get used to it, then it makes it much easier. Its not so much predictable, it just does what is does intraday (as driven18 puts it). You just ride the momentum and cash out. Next day wake and do it again.
Crypto knows it...and driven18 puts it this way: Get it and Get to Fuck out! No more business. Thank you Mr. Market!
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Chris.GER
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