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Anyone trading with a Prop firm 31 replies

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  • #38,601
  • Jul 2, 2024 8:34am Jul 2, 2024 8:34am
Quoting lddd
{quote} Yeah right. I like how you dismiss the props as casino props since US traders were blocked? I seem to remember you talking about it in a much more positive way? ( I think I'll try FTMO again once I can somehow get a plan developed. I'm having a really hard time at the moment to figure out what to do.
If you are a non US citizen with access to FTMO & 5%ers, then start over there. Pip has a good paying job, personal futures account, personal offshore FX/CFD accounts, FX prop accounts & futures prop accounts. If you have other sources of income... you can copy trade to Darwinex in the background and forget about it while playing the long game.
  • #38,602
  • Jul 2, 2024 8:44am Jul 2, 2024 8:44am
Quoting Capablanca
{quote} That sounds like the guy that got 1.75 mil because he bought a Winnebago motor home and, while driving it home on the freeway, he set the cruise control at 70 and went into the back to make coffee. Had an accident and sued because the manual didn't said he couldn't do it.
Inserted Video
  • #38,603
  • Jul 2, 2024 8:49am Jul 2, 2024 8:49am
Quoting pipmaster77
{quote} 3 months cumulative, so at 4th month, 1st month allocation would drop. However, if you have been that consistent for 4 months, you are absolutely on track for gold. This will lead to higher allocations and open you up to the investors.
At what point could you expect your performance fees to be paid out at the earliest? They write that you get paid quarterly after the 3rd month of your first allocation. The first capitalization can be received from the beginning of the 2nd month. So first payout at the end of the 5th month? At that point you would also have paid at least 5 x €38 (€190.00) in fees.
  • #38,604
  • Jul 2, 2024 8:50am Jul 2, 2024 8:50am
Quoting CableJ
{quote} If you are a non US citizen with access to FTMO & 5%ers, then start over there. Pip has a good paying job, personal futures account, personal offshore FX/CFD accounts, FX prop accounts & futures prop accounts. If you have other sources of income... you can copy trade to Darwinex in the background and forget about it while playing the long game.
Yes, that sounds like a way for me.
  • #38,605
  • Edited 9:05am Jul 2, 2024 8:52am | Edited 9:05am
Quoting lddd
{quote} Yeah right. I like how you dismiss the props as casino props since US traders were blocked? I seem to remember you talking about it in a much more positive way? ( I think I'll try FTMO again once I can somehow get a plan developed. I'm having a really hard time at the moment to figure out what to do.
Oh, I used 5 of them. I was 100% pro-prop and would still be using them. I understood and accepted them as casinos. I am not saying casino in a bad way.
What I am looking at is this......I spent 3 years passing evals, getting funded, scaling up, etc, etc......and in a span of 3 months it was all gone.
The casino model will not survive, it needs the new fees to pay the winners......the damage is beyond repair. There is simply not enough new money coming in.
If I achieved the same results with Darwinex over those 3 years, I'd be in really, really great shape.
The futures props are booming due to all the new money from the forex fallout coming in.....if there were ever a shutdown of one of the big players, like MFF in forex or if one of the platform pulls out on all props, like Metatrader in forex.....the same result will occur.
  • #38,606
  • Jul 2, 2024 9:30am Jul 2, 2024 9:30am
Quoting Capablanca
Did someone else received anther email YESTERDAY from Funded Elite yesterday in the email used for Alpha ?
Not yet .... but i believe it'll be on the way
Extreme gut feeling trader
  • #38,607
  • Jul 2, 2024 10:13am Jul 2, 2024 10:13am
Sorry for futures newbi question, where to look up my trailing drawdown balance in Apex account? Do we track on our own?
  • #38,608
  • Jul 2, 2024 10:18am Jul 2, 2024 10:18am
Quoting Boulder
Sorry for futures newbi question, where to look up my trailing drawdown balance in Apex account? Do we track on our own?
If rithmic, log into rithmic trader pro.
Tradovate, no clue
  • #38,609
  • Jul 2, 2024 10:19am Jul 2, 2024 10:19am
Quoting pipmaster77
{quote} If rithmic, log into rithmic trader pro. Tradovate, no clue
I use tradovate
  • #38,610
  • Jul 2, 2024 10:26am Jul 2, 2024 10:26am
1 minute and 51 seconds, of course sat on hands for 2 hours.

Attached Image (click to enlarge)
Click to Enlarge Name: nas0702.PNG Size: 2 KB

With the risk engine, 0.22% gain
  • #38,611
  • Jul 2, 2024 10:48am Jul 2, 2024 10:48am
Quoting Capablanca
Probably Matt trying to do some damage control.
-He probably threatened to sue. Guy sounds like a real winner.
  • #38,612
  • Jul 2, 2024 11:02am Jul 2, 2024 11:02am
Quoting pipmaster77
{quote} Oh, I used 5 of them. I was 100% pro-prop and would still be using them. I understood and accepted them as casinos. I am not saying casino in a bad way. What I am looking at is this......I spent 3 years passing evals, getting funded, scaling up, etc, etc......and in a span of 3 months it was all gone. The casino model will not survive, it needs the new fees to pay the winners......the damage is beyond repair. There is simply not enough new money coming in. If I achieved the same results with Darwinex over those 3 years, I'd be in really,...
yes, or when you have very good results with strategies that are scale-able, you dont get a problem to get inside hedge fund with some contacts.
the problem is, not one in this business take prop Accounts for serious of course, you need private account for this over many thousand trades (most need some years for this) and not a very small account so it would hurt you at least to lose it and no gambling emotion style. darwinex could work too.

so of course you destroy your long term grow extrem by do only prop trading (but thats of course one of the bigger disadvantages of prop, to destroy long term grow and good trading habits that you need to compensate with different ways at least), you would need a private account trading too when you want grow over time with manage money.

many successful traders learn over time to just concentrate on their private account and grow much faster. but not all are same and not all follow a long term plan.
many ways to roma, but often different distances to go.
  • #38,613
  • Jul 2, 2024 11:53am Jul 2, 2024 11:53am
Sorry guys, just passing by and wondering if this review website is trustworthy? What are your opinions? Thanks.

https://www.propfirmmatch.com/reviews
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #38,614
  • Jul 2, 2024 12:17pm Jul 2, 2024 12:17pm
Quoting Boulder
Sorry for futures newbi question, where to look up my trailing drawdown balance in Apex account? Do we track on our own?
//-----

click the '+' symbol on top left...... click on and hold down the accounts tab and drag it off that page which puts it on the one underneath.....

if they are not already there, use the view settings tab in that pane to add the columns, 'dist drawdown' and 'drawdown auto lig level'......

......h
to trade and code, keep both simple... no call to impress....h
  • #38,615
  • Jul 2, 2024 12:17pm Jul 2, 2024 12:17pm
Quoting RoelsMajor
Sorry guys, just passing by and wondering if this review website is trustworthy? What are your opinions? Thanks. https://www.propfirmmatch.com/reviews
Based on the number of reviews per firm, I'd say that site has quite some bias and I for one wouldn't trust it at all.
  • #38,616
  • Jul 2, 2024 3:55pm Jul 2, 2024 3:55pm
If people havent realize that futures and cfd props are the same yet then i am worried.
  • #38,617
  • Jul 2, 2024 4:42pm Jul 2, 2024 4:42pm
Quoting hayseed
{quote} //----- click the '+' symbol on top left...... click on and hold down the accounts tab and drag it off that page which puts it on the one underneath..... if they are not already there, use the view settings tab in that pane to add the columns, 'dist drawdown' and 'drawdown auto lig level'...... ......h
Thank you hayseed!!!!
  • #38,618
  • Jul 2, 2024 4:53pm Jul 2, 2024 4:53pm
Quoting Takisd
If people havent realize that futures and cfd props are the same yet then i am worried.
Mostly the same shit w/ more lucrative model. I do think the futures props that actually force traders live to partner brokers with exchange fees are different @ that stage. Another big difference... unlike CFD props, there is pretty much no feed manipulation from the prop side.
  • #38,619
  • Jul 2, 2024 4:55pm Jul 2, 2024 4:55pm
Quoting Takisd
If people havent realize that futures and cfd props are the same yet then i am worried.
"As long as the music is playing, you've got to get up and dance" - former citi ceo in midst of 2008.
  • #38,620
  • Jul 2, 2024 5:01pm Jul 2, 2024 5:01pm
"Our database of traders has increased significantly and with our competitive trading conditions some large groups of people looking to take advantage of Prop Firms have entered and we must filter them out. ... Clearing the bad actors is vital to maintain long term balance inside the trading book. Their order flow is not useful under any circumstances and they are detrimental to the Prop trading industry." - Pasquale, from Peaks.

So, what Josh is doing right now is catching people who are gaming the system?
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