Prop Firm Hub

"Hi Aaron,

Apologies sir.
But these rules are made to ensure more sustainability in the business model."


No doubt.

Tradovate - for futures trading....

Ascendx going downhill very much. Since over two months now I am waiting for a refund of one account, because the their payment system did not work as expected. Second, worrying about the new rules silently implementing here. I doubt they will be solvent in a few months from now. They had payout problems, then new rules, no fix, then again new rules this time without front-up communication per email etc. and then applying them backwards. This is so bad.

Second, Tigerfunded kicked me out on my funded account while I was in profits. They sad on website and on discord, I asked myself too, that there is only balance based daily drawdown. But they changed it overnight after breaching my account, telling me it is balance EOD, meaning that it is now balance or equity EOD which is higher. Applied this rule backwards too for me, very kind, while I was already $12k up on my 200k funded account. They are so heartbreaking kind to me. I will for this never join any new prop firm testing the waters from now on.

I think the prop firm industry is over. FundedPeaks with lots of money and good knowledge behind is already failed, bankruptcy awaiting here every week. Also after FundedEngineer was gone. It showed me that only gamblers and hedged reverse traders are attracted. I crunced the numbers again, and after taxes there is no advantage for real trader who can trade a personal account successfully too. I checked it on FTMO. On all other props you need to deduct in addition payout safety from 100% to say 80% or anything lower. With all the new rules implementing left and right now from so many props, I expect that only cheaters will stay. And then the prop business model cannot work. I explained this earlier already. Math beats statistics.

Just waiting if FundedNext (they have problems with their dashboard and let customers wait for unbreaching funded accounts for several days minimum) or Fundingpips will cease operations too. Then I think the end is confirmed. I think we are in the middle of end stadium here.

Also I do not think IC Funded or any other broker funded prop can make a turnaround. It is too known that cheaters can make guaranteed payouts, if the payouts are paid of course. For real traders it gets less and less attractive. Why should I join again a prop firm, if I have so many rules, and then less than 100% payout safety when it comes to the payout day ? No way. On Ascendx I had ( in mind) $15k in profits too but then I needed to wait 6 trading days for my other funded accounts, then the good swing trade was over. If I had immediately obtained my funded accounts after passing phase 2, I would be with $15k in profits on my funded. But this chance is gone now.

Good luck anyone miling the prop firm industry. Every week it will be harder, until more and more will give up. Causing a self-destroying mechanism as incoming challenge fees going down too same time. Just focus on your personal broker accounts, unless you are not profitable and are forced to cheat to the very end of prop firm business model. Cheers.

After 15 days, if you have made 25 trades, you will be automatically entered into the silver trader competition. You are ready to go through. I am still struggling a bit with my account, with a very high maximum drawdown (-17.36%). Currently, the return is still -6.10%. It seems likely that I will create a new account. Fortunately, Darwinex has no maximum drawdown rule (they use -6.50% Var a month for 20 months? Not really understand this Var). A drawdown of more than -5.62% is my serious issue. My bad habit.

If the DD is more...let us say 6%.. I would advise new registration with 18 euros

Alright closing day not the good one again......

1. Apex piled up losses upto 2400$ before making a nice comeback short (this same setup last week killed my account coz i went long this time experience came in play).
2. MfundedFutures FUNDED ACCOUNT - good start.
3. Topstep Combine hit daily loss limit......

Hi gents, just wanted to check FTMO are still good to go? Payouts are being received ok and as normal?

cheers

the bottom is in guys

No kidding

Thanks for the advice, Bro. That was the plan initially. I'm still interested in extending the account's time until the calibration phase ends, because I just hit a jackpot trade.

Payouts are normal. But you can only risk 1% per trade idea on funded account.

With those lots you are nowhere near 17% DD. More like 4% or maybe a bit higher. Up to 10% is no big deal, ideal is 8%. The simplest explanation of VAR is margin. It is not as simple as that but close enough. If you use more then 6k margin on 100k account then you know your gain and DD will be lowered.

Best is to wait until calibration finished then you will see for yourself and can decide about restart easier.

Thanks, Sis. I initially planned to trade only 0.3% per position and have a maximum of one running position at a time, but then my old habits kicked in, and I started overtrading Gung Ho style . At first, I didn't realize that the calibration calculations were included in the overall record at Darwinex, but after reading it again and being informed by Expo, it turns out they are included. This is also my initial trial with Darwinex because I have some free time now, no work commitments, so I decided to try it for the first month. After the calibration, while studying, I'll create a new account with a target drawdown of around -5.62%. It might be difficult to continue next month because of my usual main job.

Hi Ladder. Cool thanks for the info.. Trade well

Why not , it can teach you about trading much more then any trading seminar or youtube video. Markets are the best teacher and here you have to focus on risk and margin while knowing full well it is a marathon. If nothing else, before you retire you will learn enough to trade well.

I am with FTMO for a while and I have never heard of that 1% rule

The bottom is in and soon the prop industry will go upstairs, I do not believe this. Why ?

It is like going to casino where only Blackjack is offered as play and there are only cardcounters.
In a normal casino you would be kicked out of the door. But in prop you cannot see and control those cheaters.
Who can see if you reverse hedge your trades with your normal broker account on a prop firm ? Nobody.

So if 80% are cheaters already and I think the number is steadily growing. Thanks to the CFTC on MFF with their pun intended, maybe all prop firms should claim them, I do not see any light at the end of this tunnel. The advantage on a German trader is only about 15% more profits than trading on personal broker account. But there are rules which are limiting most traders in a certain way. On all other props, the chance of a payout is less than 100% and there are usually also more (ridiculous) rules. So no way any normal profitable trader would join the props anymore. I think this number is steadily decreasing since the CFTC stepped in.

So with the cardcounters and reverse hedgers aka cheaters are left, how can a prop make profits ? No way.

I see more and more rules are coming on most props, after huge payout delays. Then the real scam artists starts with more unheard ridiculous rules, that has nothing to do with solid trading, only to get the payouts down. If then the prop realize they cannot as all the traders will respect the new rules after seeing them, they can only shut down all operations.

Ascendx had excellent institutional backgrounds from some "C" persons. And Fundedpeaks also good knowledge about the markets with lots of money behind. If they cease operations, I do not think any new prop can start and then be successful. And I also do not see a turnaround, from where it should come from ?

FundedNext and Fundingpips are the last two big ones on FX props (except the older ones FTMO etc.). If they cannot survive longer, I even do not see how any broker based prop can do it better. Everyone wants to make a net profit. So it is a rigged casino game in the end.

Apex I heard many payout denials and new interpretations of all their existing rules. Discord and social media closing says here also a lot. This is the flagship on Futures prop. If they go down, this futures prop is also over I think.
Because I cannot see how a futures prop can make money if they also can be cheated. Not everyone can make money in a casino. That is impossible. It is not a win win for everybody. If most do not regularly buy challenges to feed the props and cover all payouts, there is no way of sustainability here.

I just wanna see in the next weeks if there is Ascendx or FundedPeaks going off. And second if Fundednext or Fundedpips as big ones and more established are going offline too.

On Fxify another broker based prop I see how they do it, like in the old times on a typical full b booking broker. They kick off all profitable traders. But I do think how they can survive except downsizing to the maximum. Rumors are so bad, you cannot buy anymore any challenges once you got a bigger or a few payouts and then in addition kicked off too on remaining funded accounts for nonsense invented reasons. Who wants to join such a prop firm ? That numbers is going to zero over time once these infos are widespreaded enough, what FXIFY is doing. It also shows the path for all new broker based props. They need to go the FXIFY way. But then this business does not make sense as it cannot be a big one, not for the prop and not for any trader (and even not for a cheater that attractive).

So if you are not desperate one who needs 2k per month from props with cheating in any way. Just focus on your personal account. My numbers for 2024 are the following ones: I made net 20k profits from props and 20k from personal account. I will focus only on my personal broker account as I see no advantage anymore trading with a prop. But also I missed 25k from props because of new rules implementing after they made huge payout delays. But once bought the challenge you cannot get out anymore, so you are looking for a payout. This affected me. And I see I cannot do any meaningful payouts anymore with prop firms. These times seem to be over forever.

Last year 2023 I made 50k with props, you know Bespoke, those developed to a scam artist. And another 50k net profits from my hedge fund trading activities. So I do not need those 2k monthly income from props anymore. And the big payouts times are definitely over. You do not get them or you will be kicked of from your funded accounts in another way for sure. So why all the efforts then starting to trade with prop firms ? Not for me (anymore). I made my profits and then try to scale on my own (with full freedom and no rules at all). From time to time I withdraw some profits and then I put them into my longterm investments, in that way I can copy one big advantage of the prop business model. (Not risking all eggs.)

This is my wife account.

7 days done

If she does trade like this in silver, .....