Prop Firm Hub | Page 1976 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 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

  • #39,501
  • Jul 18, 2024 7:29am Jul 18, 2024 7:29am
Quoting Takisd
{quote} IUSE best spy ETF
Just if I want to be EUR hedged, which may not me the case.

I would not buy SPY or TLT, anyway, because I prefer world stocks and world bonds. I just get pissed off for these idiots are preventing me from buying it with the argment of protecting me.
  • #39,502
  • Jul 18, 2024 8:17am Jul 18, 2024 8:17am
Quoting Expo33
{quote} It's hard to say exactly when the risk engine reduces your trade size because you don't see the reduced size on the platform. You still see the trade size that you opened no matter what the engine does. I would guess that the engine reduces the trade size fairly quickly (but thats just a guess). Also, it definitely doesn't close the trade. The engine's only objective is to get your overall position back into the acceptable VaR range. Of course revenge trading huge lots is an obvious time when the engine reduces your lot size but the overall...
Same on the futures, on a 1,000,000 account, I trade 6 minis on YM, 5 on ES and 2 on NQ....2k per day, 10K per week is the goal. Somedays takes 2-3 trades, some days 1.
  • #39,503
  • Jul 18, 2024 8:57am Jul 18, 2024 8:57am
Quoting sampat
{quote} As per darwinex Risk is based on leverage and volatility of the instrument. If you trade 1 lot EUR/USD and make 200$ for a day is valued more than if you trade 1 lot of NQ and make 200$. Similarly if you trade 0.1 lot of EUR/USD and make 200$ it is even better and valued more. They have their own D-Leverage concept where they compare 1 lot of units traded with existing volatility of the instrument with EUR/USD. 1% risk is practically no value because market can gap down 100 points without hitting your stop loss. Only thing they care about...
That's what I mean. So it doesn't seem possible to predict your Darwin's rating/performance based on your own historical statistics and expected performance.

Yes, with my example for 1% risk per trade i mean the peak-to-valley drawdown at any time (floating). But if even that isn't enough to predict a certain rating/performance and Darwinex further makes distinctions based on the different assets that are traded, it will be hard for me to estimate where I'll end up.

Edit: But the rating doesn't just depend on the risk you take, right? What about the profit side? I read that you have to make 2.5 times more profit than your drawdown or that doesn't say anything about what kind of rating you get in the end and there are also other/more complex calculations that take place
  • #39,504
  • Jul 18, 2024 9:16am Jul 18, 2024 9:16am
Quoting pipmaster77
{quote} So I trade futures with them, they provide 1,000,000 demo for that, micros not available, only minis. I aim for 2k per day. On forex, I know they give 100K. I would simply aim for $200 per day. It is 0.2% times 20 trading days is 4%. If you keep DD under control, which should be fairly easy only shooting for $200, your risk engine should get you 6-7%. Just my experience, I grab 0.2% per day and they credit me 0.36%. Hit the 75 score within 2 weeks, now just aiming for higher allocation.
You've given great advice the past few days about Darwinex - I'm 3 days into my calibration stage and based on what you've said I'm aiming for too high return. If I now reduce my RRR by half, will I mess up the calibration ? Or is the remaining 12 days enough do you think ?
  • #39,505
  • Jul 18, 2024 9:21am Jul 18, 2024 9:21am
Quoting lddd
{quote} That's what I mean. So it doesn't seem possible to predict your Darwin's rating/performance based on your own historical statistics and expected performance. Yes, with my example for 1% risk per trade i mean the peak-to-valley drawdown at any time (floating). But if even that isn't enough to predict a certain rating/performance and Darwinex further makes distinctions based on the different assets that are traded, it will be hard for me to estimate where I'll end up. Edit: But the rating doesn't just depend on the risk you take, right? What...
The ultimate goal of Darwinex is investor capital. The seed capital is just to icentivize you and generate a bit of income until you get there.
There is no way of knowing who, when or how much folks will invest with you.
I think everyone is reading too much into the seed capital allocation provided by Darwinex themselves.
This a 18-24 month commitment, not even close to what we are accustomed to discusiing here.
  • #39,506
  • Jul 18, 2024 9:34am Jul 18, 2024 9:34am
Quoting CableJ
It would probably have to be the EU to get something done. The CFTC may lose the MFF case due to incompetence and faces a very likely wipeout of leadership in a few months.
-And probably, US traders may not be so lucky since I suspect that the CFTC can/will still target other firms in order to establish some kind of favorable precedent.
  • #39,507
  • Jul 18, 2024 9:51am Jul 18, 2024 9:51am
Quoting pipmaster77
{quote} The ultimate goal of Darwinex is investor capital. The seed capital is just to icentivize you and generate a bit of income until you get there. There is no way of knowing who, when or how much folks will invest with you. I think everyone is reading too much into the seed capital allocation provided by Darwinex themselves. This a 18-24 month commitment, not even close to what we are accustomed to discusiing here.
Yes. I'll probably just copy my trades to Darwinex and then wait and see how it develops. I just don't imagine it's that easy to get a few million euros from investors and even then it's probably another matter to hold on to it. You can see how few traders there have ever received 7-figure money from investors. I don't want to give myself any illusions and until then I have to live on something. My personal goal from trading is actually to earn income and not to let my account grow slowly.

As I said, I won't be paying the monthly fee but will be depositing money into my live account at Darwinex that I opened yesterday over the next few days. In the short term, in order to actually generate some kind of significant income, a prop company like FTMO seems to be a better alternative to me. But I'm not making any illusions here either. Everything seems to be on shaky ground and you can only hope and fear that your profits will be paid out regularly (or that i will even make some...)

Here may be an interesting thread about Darwinex that I found on another forum.

https://www.trade2win.com/threads/wh...rowing.239481/
  • #39,508
  • Jul 18, 2024 9:59am Jul 18, 2024 9:59am
Quoting Nsak3y
{quote}-And probably, US traders may not be so lucky since I suspect that the CFTC can/will still target other firms in order to establish some kind of favorable precedent.
I still don't understand why all the props banned US traders. The reason for this is not the CFTC but rather that MetaQuotes would otherwise disconnect the props or brokers behind it? The CFTC is not responsible for demo accounts and even if people trade CFDs, they are not trading their own money or that of others but are simply offering their service and getting paid a commission for it.

And if something illegal really happens, like people being cheated by the company, the companies should be prosecuted. There is no need for financial regulators to get involved?
  • #39,509
  • Jul 18, 2024 10:17am Jul 18, 2024 10:17am
Quoting lddd
I still don't understand why all the props banned US traders. ... / ... There is no need for financial regulators to get involved?
-It is a complicated issue. Perhaps it shouldn't be, but there are many variables to consider.

Some props still accept US traders. Although, I suspect that many US traders have dropped FX props for several reasons.

I think, there may be a few reasons why some firms dropped US traders. One being because they probably hope that they can avoid US regulatory scrutiny by doing so. Whether or not their efforts will make any difference is another matter.

Another reason could be because they wish to remain on good terms with Metaquotes so that they can continue offering Metatrader as an option (among other things), since it is undoubtedly the most popular among traders and also offers many benefits for firms.

I suppose that there may be other reasons, but these are the first that come to mind.
  • #39,510
  • Jul 18, 2024 10:33am Jul 18, 2024 10:33am
Anyone having issues with their stoploss no executing when you open a trade on Tradovate?

I've already created an ATM with fixed stoploss and takeprofit,

But whenever I open a trade, there's no stoploss or takeprofit attached to the trade.

Am I doing something wrong?
  • #39,511
  • Jul 18, 2024 10:40am Jul 18, 2024 10:40am
Quoting lddd
even if people trade CFDs, they are not trading their own money or that of others but are simply offering their service and getting paid a commission for it.
It’s effectively the same thing, isn’t it?

Surely you can see that if I’m allowed to trade CFDs and you’re not, and you say to me, “Trade this CFD for me, I’m not allowed to trade them, but I’ll advise you, and you can keep a little share of the profits for putting the trade on for me” and I do the trade for you with my money and I pay you 90% of the profits, that’s just a backdoor loophole for you trading it with your own money?

No need to be Einstein, I think, to appreciate that in outcome terms the two are exactly the same thing?

Quoting lddd
And if something illegal really happens, like people being cheated by the company, the companies should be prosecuted.
And how are you going to prosecute them? And how are the authorities you want to protect you going to prosecute them on your behalf? Who’s going to be prosecuted, the prop-shop or the “broker”, if there is one?

Quoting lddd
There is no need for financial regulators to get involved?
Lol. Those financial regulators you see no need to involve were set up (only in response to persistent and increasing public demand for them, not because any government wanted them) to protect you.

Surely you can see that (for all the faults of CFTC, which I see as clearly as you do, and who I think are just as bad a regulator as you do) a company like MyForexFunds, which was blatantly lying to members of the public who were paying money to them, has to be “answerable” to some kind of legal and/or regulatory authority?

Ok, you may feel the outcome of that case was/is/will be horrible and unnecessary and stupid, and the CFTC were awful and dishonest about it (and I wouldn’t argue with any of that), but surely you can see that the answer to that is to change the CFTC and make them honest and accountable and/or replace them by someone much more appropriate and suitable and proper? Not to say (as you just did) “There is no need for financial regulators to get involved”?

Come on - this surely isn’t that hard for anyone to understand?!
  • #39,512
  • Jul 18, 2024 11:01am Jul 18, 2024 11:01am
Quoting lddd
{quote} Yes. I'll probably just copy my trades to Darwinex and then wait and see how it develops. I just don't imagine it's that easy to get a few million euros from investors and even then it's probably another matter to hold on to it. You can see how few traders there have ever received 7-figure money from investors. I don't want to give myself any illusions and until then I have to live on something. My personal goal from trading is actually to earn income and not to let my account grow slowly. As I said, I won't be paying the monthly fee but...
Yes, that's why I trade my amp account and I use Apex for futures, will probably add Topstep and perhaps TakeProfitTrader. I am definitely not using Darwinex for everyday income YET.
  • #39,513
  • Jul 18, 2024 11:21am Jul 18, 2024 11:21am
Quoting Evasparkling
Am I doing something wrong?
//----

hard to say without knowing what you did......

mine are working....

i just use a set dollar amounts like 50$, 100$, 1000$..... and name them accordingly like, '50 dollars', '100 dollars', and so on...... the "50 dollars" name will shown in the ATM spot when it's chosen.....

but again, mine are working....

daily and weekly risk settings, if set, might override targets......h
to trade and code, keep both simple... no call to impress....h
  • #39,514
  • Jul 18, 2024 11:33am Jul 18, 2024 11:33am
Quoting lddd
{quote} That's what I mean. So it doesn't seem possible to predict your Darwin's rating/performance based on your own historical statistics and expected performance. Yes, with my example for 1% risk per trade i mean the peak-to-valley drawdown at any time (floating). But if even that isn't enough to predict a certain rating/performance and Darwinex further makes distinctions based on the different assets that are traded, it will be hard for me to estimate where I'll end up. Edit: But the rating doesn't just depend on the risk you take, right? What...
I think your confusing the risk engine with the rating. And as pipmaster said you're reading too much into it. The ratings calculator tells you exactly what % profit you need to reach 75. I mean for 20 bucks anyone can get started and see how it works.

This is where I'm at with one of my accounts. It's been a horrific month and I will likely just cancel this account. At the beginning of the month I needed about 1.8% profit to get my rating up to 75 to get another seed allocation but as you can see I've lost 4.85% for the month and my rating has plummetted down to 44.74
Attached Image (click to enlarge)
Click to Enlarge Name: rate.png Size: 56 KB


Now, if I slide the blue dot over to the right until the rating is at 75 it shows exactly how much I need in profit which is still 1.81%. And over the course of the month my risk adjustment from the risk engine has been fluctuating the whole time but has NOTHING to do with the rating
Attached Image (click to enlarge)
Click to Enlarge Name: rate1.png Size: 55 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #39,515
  • Jul 18, 2024 11:35am Jul 18, 2024 11:35am
Quoting hayseed
{quote} //---- hard to say without knowing what you did...... mine are working.... i just use a set dollar amounts like 50$, 100$, 1000$..... and name them accordingly like, '50 dollars', '100 dollars', and so on...... the "50 dollars" name will shown in the ATM spot when it's chosen..... but again, mine are working.... daily and weekly risk settings, if set, might override targets......h
This's how mine are setup. I bought 5 e-mini contracts on NQ at Market Order with 80 ticks stoploss and 200 ticks profit.

So I don't know if I did to do anything additional
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot 2024-07-18 122851.png Size: 51 KB
Click to Enlarge Name: Screenshot 2024-07-18 122938.png Size: 59 KB
  • #39,516
  • Edited 12:40pm Jul 18, 2024 11:36am | Edited 12:40pm
Quoting lddd
{quote} Yes. I'll probably just copy my trades to Darwinex and then wait and see how it develops. I just don't imagine it's that easy to get a few million euros from investors and even then it's probably another matter to hold on to it. You can see how few traders there have ever received 7-figure money from investors. I don't want to give myself any illusions and until then I have to live on something. My personal goal from trading is actually to earn income and not to let my account grow slowly. As I said, I won't be paying the monthly fee but...
3 year old thread and of course they may be "stagnating" as the prop space has grown exponentially in the past few years cutting into their market share
Pride always comes before destruction.... -Proverbs 16:18
  • #39,517
  • Jul 18, 2024 11:45am Jul 18, 2024 11:45am
Quoting Expo33
{quote} I think your confusing the risk engine with the rating. And over the course of the month my risk adjustment from the risk engine has been fluctuating the whole time but has NOTHING to do with the rating
So the rating/calculator is based on the trader’s account and not of the final outcome to the Darwin index?
  • #39,518
  • Jul 18, 2024 11:47am Jul 18, 2024 11:47am
Quoting hayseed
{quote} //---- hard to say without knowing what you did...... mine are working.... i just use a set dollar amounts like 50$, 100$, 1000$..... and name them accordingly like, '50 dollars', '100 dollars', and so on...... the "50 dollars" name will shown in the ATM spot when it's chosen..... but again, mine are working.... daily and weekly risk settings, if set, might override targets......h
Risk setting not set as well.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-07-18 124526.png Size: 61 KB
  • #39,519
  • Jul 18, 2024 11:55am Jul 18, 2024 11:55am
Quoting Evasparkling
{quote} This's how mine are setup. I bought 5 e-mini contracts on NQ at Market Order with 80 ticks stoploss and 200 ticks profit. So I don't know if I did to do anything additional
//------

i trade from the mainly from the chart, not the dom...... but mine go in using the dom also...... just verified it using the dom.....,

when the order is sent, targets show on both the dom and chart.....

but, i always use fixed dollar amounts.....h
to trade and code, keep both simple... no call to impress....h
  • #39,520
  • Jul 18, 2024 12:03pm Jul 18, 2024 12:03pm
Quoting Evasparkling
{quote} Risk setting not set as well.
//-----

mine are...... risk settings are useful me......

but it appears tradovate allows you to override them even if set and the setting was breached.....

not good.....h
to trade and code, keep both simple... no call to impress....h
53 traders viewing now