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Anyone trading with a Prop firm 31 replies

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  • #38,201
  • Jun 25, 2024 8:28am Jun 25, 2024 8:28am
Quoting Cryptosurf
Isn't this Angelo's?
-From the article:

Quote
At first glance, it appears that UWM is only a "referrer" to Eightcap under the new agreement, with the broker responsible for administering prop trading challenges offered on the platform and all deposits and payouts.

If this is true, then that likely means that the prop is merely serving as an affiliate. And if that is true, then I wonder if traders can bypass the firm altogether by going direct, and what sort of benefit that would offer traders.
  • #38,202
  • Jun 25, 2024 8:40am Jun 25, 2024 8:40am
8cap runs a scam farm, please avoid any firm using them
  • #38,203
  • Edited 9:12am Jun 25, 2024 8:51am | Edited 9:12am
Quoting Takisd
8cap runs a scam farm, please avoid any firm using them
-Indeed. I should clarify that my previous statement was merely a matter of curiosity since it seems odd that any trader would trade through the prop if they didn't have to, especially if they could save money doing so.

If the prop could shield 8cap by onboarding clients that 8cap cannot, then perhaps that could be one benefit.
  • #38,204
  • Jun 25, 2024 10:33am Jun 25, 2024 10:33am
Quoting hayseed
{quote} //----- personally i am..... was paid by apex in 5 days yet again..... actually, can't remember a time that took longer than 5 business days..... tend to very very careful about what i let enter my mind, so did not watch the video...... ......h
I'm completely the same. Apex is a be-very-effing-careful-follow-rules ATM for me. I believe what I experience. Period. Twitter and Discord are for amusement purposes only.

My experience (knock on wood) with Apex has been all positive
A snails pace wins the race :-)
  • #38,205
  • Jun 25, 2024 11:30am Jun 25, 2024 11:30am
Quoting Expo33
So I got a response from Darwinex about why my risk calibration hasn't change and apparently won't change the way I'm trading. Kind of a kick in the chicklets. "We have checked your DARWIN and trading account and the VAR is almost 4 times higher that the Goal VAR (6,5% VAR). You have improved in terms of risk stability but in terms of risk (determined by the size of the trades and the number of simultaneous trades opened) there has been no change, a VaR of 20% has been maintained" And they sent this screenshot: {image} At the moment I have...
So I sent another email about my VaR confusion:
Attached Image (click to enlarge)
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And their response:
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Now more confused than ever. Guess I'll have to make some more VaR calculations to figure this out
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Pride always comes before destruction.... -Proverbs 16:18
  • #38,206
  • Jun 25, 2024 12:46pm Jun 25, 2024 12:46pm
Was bored so tried a 150k account.
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Extreme gut feeling trader
  • #38,207
  • Jun 25, 2024 12:53pm Jun 25, 2024 12:53pm
Quoting Expo33
{quote} So I sent another email about my VaR confusion: {image} And their response: {image} Now more confused than ever. Guess I'll have to make some more VaR calculations to figure this out {image}
  • #38,208
  • Jun 25, 2024 1:08pm Jun 25, 2024 1:08pm
Quoting Expo33
{quote} So I sent another email about my VaR confusion: {image} And their response: {image} Now more confused than ever. Guess I'll have to make some more VaR calculations to figure this out {image}
Yes, I have an accounting and a statistics degree and I have no idea how to figure this out. I wish they could just publish the formula. I'll get a score at the end of this week, so we will see.
  • #38,209
  • Jun 25, 2024 1:13pm Jun 25, 2024 1:13pm
Quoting Expo33
{quote} So I sent another email about my VaR confusion: {image} And their response: {image} Now more confused than ever. Guess I'll have to make some more VaR calculations to figure this out {image}
I don’t even understand why you bother with Darwinex?
  • #38,210
  • Jun 25, 2024 1:20pm Jun 25, 2024 1:20pm
Quoting pipmaster77
{quote} Yes, I have an accounting and a statistics degree and I have no idea how to figure this out. I wish they could just publish the formula. I'll get a score at the end of this week, so we will see.
Curious what your risk factor is at for the Forex acct and what your average position size is with total positions opened at once?
Pride always comes before destruction.... -Proverbs 16:18
  • #38,211
  • Jun 25, 2024 1:22pm Jun 25, 2024 1:22pm
Quoting pipmaster77
{quote} Yes, I have an accounting and a statistics degree and I have no idea how to figure this out. I wish they could just publish the formula. I'll get a score at the end of this week, so we will see.
If they post the formula then they can't hide the fact the subscriptions are the main source of income.
  • #38,212
  • Jun 25, 2024 1:23pm Jun 25, 2024 1:23pm
Quoting lddd
{quote} I don’t even understand why you bother with Darwinex?
Because the model seems sustainable long term and trading real capital from real investors is much more appealing than doing the prop firm thing run by a bunch of GenZ/Millenial imbeciles.

The VaR confusion is annoying for sure but everything else is perfect for me. Once I can get a complete understanding and can get my full risk factor back to normal it will be smooth sailing.
Pride always comes before destruction.... -Proverbs 16:18
  • #38,213
  • Jun 25, 2024 1:26pm Jun 25, 2024 1:26pm
Quoting Takisd
{quote} If they post the formula then they can't hide the fact the subscriptions are the main source of income.
Agree that thought has been in my mind for sure. Quash ability to increase your Darwinex Index, collect subscriptions in the meantime.

My minuscule profits will pay for the subscriptions but still need to have answers about the VaR
Pride always comes before destruction.... -Proverbs 16:18
  • #38,214
  • Jun 25, 2024 2:14pm Jun 25, 2024 2:14pm
Quoting montygoldy
Was bored so tried a 150k account. {image}
Thought why not try more. Bought 5 more......

1. I have 50kx10 in review for payout if approved then there will 600$ drawdown left in them. So best is to blow them n replace with 150k passed ones
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Extreme gut feeling trader
  • #38,215
  • Jun 25, 2024 2:21pm Jun 25, 2024 2:21pm
Quoting Expo33
{quote} Because the model seems sustainable long term and trading real capital from real investors is much more appealing than doing the prop firm thing run by a bunch of GenZ/Millenial imbeciles. The VaR confusion is annoying for sure but everything else is perfect for me. Once I can get a complete understanding and can get my full risk factor back to normal it will be smooth sailing.
Ditto.
  • #38,216
  • Jun 25, 2024 2:24pm Jun 25, 2024 2:24pm
Quoting Expo33
{quote} Agree that thought has been in my mind for sure. Quash ability to increase your Darwinex Index, collect subscriptions in the meantime. My minuscule profits will pay for the subscriptions but still need to have answers about the VaR
I don't buy it.......$38/mo vs. the $500 a pop the "prop" firms were collecting......I can try darwinex for a year, certainly I'll figure it out by then, and still pay less than 1 challenge on the "prop" model. Not to mention before it was unlimited, we were required to flip an account in 30 days.
  • #38,217
  • Jun 25, 2024 2:29pm Jun 25, 2024 2:29pm
Quoting Expo33
{quote} Curious what your risk factor is at for the Forex acct and what your average position size is with total positions opened at once?
First couple of trades were 2 lots, then bumped to 5 lots, but I trade mostly euraud and gbpaud, so more like 3.5 lots when adjusted to USD. 1 position at a time, I believe twice I had 2 trades open.
Truly, I'm just trying to get through the 15 days and then I believe the real "work" starts.
  • #38,218
  • Jun 25, 2024 3:02pm Jun 25, 2024 3:02pm
Quoting Expo33
{quote} Because the model seems sustainable long term and trading real capital from real investors is much more appealing than doing the prop firm thing run by a bunch of GenZ/Millenial imbeciles. The VaR confusion is annoying for sure but everything else is perfect for me. Once I can get a complete understanding and can get my full risk factor back to normal it will be smooth sailing.
I had a look at them a while ago but it seems to be a lot more difficult to trade for a significant income due to the low payout rate compared to say FTMO. Even if I managed to consistently make a few percent a month, it would be far more difficult with their program.

Yes, Darwinex seems to make a more serious impression compared to most prop companies, but not nearly as simple and transparent as they advertise. For example, take a close look at how many profitable Darwin's there are that have existed (survived) for longer than a few years and then filter out how many of them are capitalized with 7/8+ figures?

I was expecting there are more. There are literally thousands of Darwin’s with a track record you wouldn’t even want your worst enemy to invest a dollar in.

I also didn’t like the recurring fee model. It already puts a lot of pressure to perform just to cover your costs. Or that allocations doesn’t seem to be guaranteed/fixed but only for a certain time or similar. Maybe better then to just look for your own investors and be your own „fund“.
  • #38,219
  • Jun 25, 2024 3:24pm Jun 25, 2024 3:24pm
Quoting Takisd
If they post the formula then they can't hide the fact the subscriptions are the main source of income.
-The static nature of a formula would allow for clearly-defined (and exploitable) parameters. With ambiguous flexibility, they can rein in any outliers as they see fit.

Presumably.
  • #38,220
  • Jun 25, 2024 3:24pm Jun 25, 2024 3:24pm
Quoting lddd
There are literally thousands of Darwin’s with a track record you wouldn’t even want your worst enemy to invest a dollar in. I also didn’t like the recurring fee model. It already puts a lot of pressure to perform just to cover your costs.
-What would survival of the fittest mean without Darwinism? The few that can do well over the long-term will reap the benefits of the many.

Not dogging it; just presumptuous speculation.
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