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  • #40,881
  • Aug 18, 2024 12:12pm Aug 18, 2024 12:12pm
Yeah, good conversations in last replies.

Consolidation works are in progress, no new firm is able to harvest credibility.

Even Large players are getting some bad publicity, but still; I am satisfied with current model. Big 3 are for me out there. FTMO, ALPHA, 5%RS. (dont have acc with 5%).

Cheeky players of my interest which I do have time/costs to work with are:
FXIFY, FUNDED NEXT, FUNDING PIPS, ASCENDX.
Ripe for 1k,2k,4k max withdrawals.

At this point math goes in my favor, if they ALL push to a trailing SL, im done with Props.


Brokers yes, lets see IC Funding only interested atm. Definately will try them out.

Regulation? Not so fast.
  • #40,882
  • Aug 18, 2024 12:15pm Aug 18, 2024 12:15pm
Quoting CableJ
{quote} MFF's A book was still a net loser, however net -30K to -150K per month on their best traders was probably still an overall win for them vs what those same traders could potentially do in an unrealistic sim environment.
Right, the court documents showed it was net losers. That's why this was like a SL. It was like taking an insurance over that trader. From that moment MFF would not have any risk.

The same happens in the futures props when they move people into live. From that moment the trader can make 1 billion profits and this won't take the prop down.
  • #40,883
  • Aug 18, 2024 12:30pm Aug 18, 2024 12:30pm
Quoting Capablanca
{quote} Right, the court documents showed it was net losers. That's why this was like a SL. It was like taking an insurance over that trader. From that moment MFF would not have any risk. The same happens in the futures props when they move people into live. From that moment the trader can make 1 billion profits and this won't take the prop down.
Have you seen any evidence of futures traders going live with props? It seems more like a soft ban to me, take your money and never return vs. give us 10% of all your future live profits plus pay higher ordinary income taxes vs 60% long term/40% short term special IRC 1256 futures capital gains tax rate on a personal account... and oh by the way you're also liable for professional exchange mo fees vs. significantly cheaper non pro fees in a personal account. Live with futures props sounds good but in reality it makes zero sense from the trader's perspective & the props also know that.
  • #40,884
  • Aug 18, 2024 12:33pm Aug 18, 2024 12:33pm
Quoting 21vs7
Yeah, good conversations in last replies. Consolidation works are in progress, no new firm is able to harvest credibility. Even Large players are getting some bad publicity, but still; I am satisfied with current model. Big 3 are for me out there. FTMO, ALPHA, 5%RS. (dont have acc with 5%). Cheeky players of my interest which I do have time/costs to work with are: FXIFY, FUNDED NEXT, FUNDING PIPS, ASCENDX. Ripe for 1k,2k,4k max withdrawals. At this point math goes in my favor, if they ALL push to a trailing SL, im done with Props. Brokers yes, lets...
FXIFY and Fundednext and also Ascendx have very bad trading conditions on Funded accounts. Also FXIFY practice of banning is too shady. Fundednext had bad experience, with their dashboard issues. That is not the end of all problems there. Ascendx have huge problems once Metatrader removal. I still did not get my refund after 2.5 months writing 100 emails to them and got the promise they WILL return the refund of initial charged me twice. Incredible bad support. You simply cannot trust. And on Fundingpips you have back and forth new rules on the fly, so many frequent changes, you cannot trust this. It is almost everytime a sign of serious payout issues.

Best I think should be ICFunded as you said, because they should have best trading conditions, like IC Market, even better than FTMO. And challenge prices are comparable. Blueberry Funded has some weird rules. Hantec and Oanda does not allow EU customers. The other 2 are very small, have no bigger reputation as broker behind (I mean MPfunded and another one). So there is maybe Thinkmarkets left here, but bit pricey.

If they ever introduced trailing SL with that kind of challenge prices, you can forget them all, since personal account trading is in ANY CASE than better. No doubts.

ASIC will introduce regulations incoming ca. end of year, we read. I think other regions will follow with regulations in 2025 for sure.
So the whole prop industry will be a lot different in 1 year (again).
  • #40,885
  • Aug 18, 2024 1:01pm Aug 18, 2024 1:01pm
Quoting TrAndy1
{quote} FXIFY and Fundednext and also Ascendx have very bad trading conditions on Funded accounts. Also FXIFY practice of banning is too shady. Fundednext had bad experience, with their dashboard issues. That is not the end of all problems there. Ascendx have huge problems once Metatrader removal. I still did not get my refund after 2.5 months writing 100 emails to them and got the promise they WILL return the refund of initial charged me twice. Incredible bad support. You simply cannot trust. And on Fundingpips you have back and forth new rules...
What weird rules in Blueberry ? I have scanned through it last week and didn't find anything that may hurt or that we don't find elsewhere.
I have not purchased from them but I plan to do that this week.
  • #40,886
  • Aug 18, 2024 1:04pm Aug 18, 2024 1:04pm
Quoting CableJ
{quote} Have you seen any evidence of futures traders going live with props? It seems more like a soft ban to me, take your money and never return vs. give us 10% of all your future live profits plus pay higher ordinary income taxes vs 60% long term/40% short term special IRC 1256 futures capital gains tax rate on a personal account... and oh by the way you're also liable for professional exchange mo fees vs. significantly cheaper non pro fees in a personal account. Live with futures props sounds good but in reality it makes zero sense from the...
The tax stuff depends on the country so it may not be as bad as that (at least in europe depends on the country).
But you're right. Much higher fees, worse fills (it's not a videogame any longer) and not 100% profit any more (I would say that they only put anyone in live well after that point).
I think that futures props are better to milk as much as possible on a subscribe->milk 100% profit->blow->subscribe again, until they get fed up and kick people out.
  • #40,887
  • Edited 5:21pm Aug 18, 2024 4:59pm | Edited 5:21pm
Quoting Capablanca
{quote} What weird rules in Blueberry ? I have scanned through it last week and didn't find anything that may hurt or that we don't find elsewhere. I have not purchased from them but I plan to do that this week.
This rule can also affects you when you want to close a trade when PT is hit after news. You either get executed sometimes, which is bad. Bad having no PT or SL set is also bad, as they have other rules, they call it easily gambling without risk management set. So you are forced to set SL and PT on each trade but then not forget to remove at least PT when there is news for 20 minutes. You see ? WEIRD.

With such rules, the devil is always in details. There is always little room left for interpretation. And what ? They will interrpete to their favor over time. For sure.

https://help.blueberryfunded.com/en/...w-news-trading

  1. Other significant economic data releases - WHATEVER THIS IS ?? Not 100% clear what is meant to be honest. WEIRD. It could be each central banker speech or even medium important news. This is very grey, cause there is room for interpretation what is significant. Anytime you make a profit it is significant of course for them, then you get your profits removed and accounts breached. That is expected outcome as worst case. Careful!

3. Can I close my positions during news events?
No cannot, you must refrain from opening or closing trades 10 minutes before and 10 minutes after high-impact (red folder) news events. This includes trade execution and closure, even if you placed the trade before and your take-profit (TP) got hit during the restricted timeframe.

4. What happens if I trade during restricted times on my earnings account?

  1. Profit Removal: Any profits earned on trades executed during restricted times will be removed upon payout request.
  2. Voided Payouts: If 3 or more trades in a single payout request are considered high-impact news trading, the entire payout will be voided, and the earnings account will be reset to the starting balance.
  3. Account Breach: Continual news trading across multiple payout periods, despite warnings, may lead to Blueberry Funded breaching your earnings account.

  • #40,888
  • Aug 18, 2024 5:39pm Aug 18, 2024 5:39pm
Quoting CableJ
So the big question is... can any firm abruptly eliminate the gamification and survive without coordination with other firms to do exactly the same?
-Nope. As long as other firms offer something better, then it will be difficult for firms to apply various risk mitigation parameters. The exception to this would be if you are an already-established and trusted firm that is making big payouts without issues (like Apex). Some brokers may be able to pull it off, and if so, could eventually dry out the remaining FX props and allow for a much better environment in terms of longevity.
  • #40,889
  • Aug 18, 2024 5:39pm Aug 18, 2024 5:39pm
Quoting Capablanca
Moving people to a real account limits their risk from that moment onwards.
-Yes, but it does not fully-limit their risk in the way that a profit pool would, since they could theoretically have 1 million traders make it to live in a single month, which could bankrupt them. Obviously, that would probably never happen, but it illustrates the point that it is not a perfect model for sustainability.
  • #40,890
  • Aug 18, 2024 5:39pm Aug 18, 2024 5:39pm
Quoting CableJ
Have you seen any evidence of futures traders going live with props? It seems more like a soft ban to me, take your money and never return vs.
-I have tried inquiring with Apex about their live offering, thresholds and statistics etc., but they will not disclose any details. I suspect that you are correct about it.
  • #40,891
  • Aug 18, 2024 7:26pm Aug 18, 2024 7:26pm
Quoting Nsak3y
{quote}-I have tried inquiring with Apex about their live offering, thresholds and statistics etc., but they will not disclose any details. I suspect that you are correct about it.
I have no issues either live or demo or any other type sh*t.... As long as they pay me....

As every Prop firm champs already said MILK THIS PROP FIRM TRAIN AS MUCH AS POSSIBLE AND BE PREPARED FOR THE DOOMSDAY AS WELL
Extreme gut feeling trader
  • #40,892
  • Edited 10:14pm Aug 18, 2024 7:34pm | Edited 10:14pm
Banggggg Asian Session................

1. Apex 150kx12 = 13323$ (Saved myself from some BS... there was a stop loss order on gold which i forgot to remove and it got triggered luckily i was on the screen heard the order filled sound and closed right away lost 67$ on 11 accounts ... phewwwww....coz if i left it for 5 more minutes i would have lost all the profits).
2. Myfundedfutures funded 3x50k - 3000$ (aiming for 1200$x3 payout on thursday already 2 winning days btw is super hard to pull 1k profits with 1 mini (coz of scaling plan) in asian session but thanks to volatility these days...)

DONE FOR THE DAY - Be back on tomorrow's asian session....
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Extreme gut feeling trader
  • #40,893
  • Edited 11:31pm Aug 18, 2024 11:05pm | Edited 11:31pm
Quoting montygoldy
Banggggg Asian Session................ 1. Apex 150kx12 = 13323$ (Saved myself from some BS... there was a stop loss order on gold which i forgot to remove and it got triggered luckily i was on the screen heard the order filled sound and closed right away lost 67$ on 11 accounts ... phewwwww....coz if i left it for 5 more minutes i would have lost all the profits). 2. Myfundedfutures funded 3x50k - 3000$ (aiming for 1200$x3 payout on thursday already 2 winning days btw is super hard to pull 1k profits with 1 mini (coz of scaling plan) in asian session...
I am also in good floating profits in addition to what I had on late Friday this Asian session today. +€1100 around in additional profits to Friday I am speaking as of now.
  • #40,894
  • Edited Aug 19, 2024 12:03am Aug 18, 2024 11:39pm | Edited Aug 19, 2024 12:03am
Something I do not like at FTMO, see this video. Another trader got limited on his funded account despite his overall low profits.
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Even Scaling into profits is not allowed, the call it one-sided bet or gambling. But this is how you can maximize your profits WHILE LIMITING YOUR RISK too, if you have a trailing stoploss all the time in place. This is a nonsense rule from FTMO, just to keep the payouts low.
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You cannot even have correlated bets with risking 1% each, so no way to make 500k profits in a cycle with a 400k account. Who is risking $4k per trade (as 1%) and making over 100 RR in a month with non-correlated symbols and no scaling in ? Impossible to do so.
  • #40,895
  • Aug 19, 2024 12:13am Aug 19, 2024 12:13am
Quoting TrAndy1
{quote} I am also in good floating profits in addition to what I had on late Friday this Asian session today. +€1100 around in additional profits to Friday I am speaking as of now.
May I ask why you keep posting these trades here? Nobody is interested or impressed. Your ”journal” has nothing to do with props and prop trading. Are you so desperate of attention or what? Please stop spamming. AND I have seen your reasoning, makes no sense so please do not repeat that either.
  • #40,896
  • Aug 19, 2024 12:28am Aug 19, 2024 12:28am
Quoting kalastaja
{quote} May I ask why you keep posting these trades here? Nobody is interested or impressed. Your ”journal” has nothing to do with props and prop trading. Are you so desperate of attention or what? Please stop spamming. AND I have seen your reasoning, makes no sense so please do not repeat that either.
It seems you have a problem, when other traders are profitable. Stop being so negative it hurts in your own trading. I post it because a) want to motivate others and b) make a comparison to prop accounts as it is similar traded to a $200k prop challenge, I said this already. So you did NOT read previous posts too and then barking.
  • #40,897
  • Aug 19, 2024 12:44am Aug 19, 2024 12:44am
Quoting TrAndy1
{quote} It seems you have a problem, when other traders are profitable. Stop being so negative it hurts in your own trading. I post it because a) want to motivate others and b) make a comparison to prop accounts as it is similar traded to a $200k prop challenge, I said this already. So you did NOT read previous posts too and then barking.
Whatever! You just can’t see what a fool you make yourself. Have a nice day!
  • #40,898
  • Aug 19, 2024 12:58am Aug 19, 2024 12:58am
So it seems like its a trend that brokers are setting up shop in the propfirm space. This can be either an extremely well anticipated reversal in the downturn trend of propfirms due to the numerous scams recently, or, their presence can make the whole situation much worse. Lets see!

Some open questions to everybody

1) Anyone has traded ICMarkets and got funded/payouts? Small number of reviews only on trustpilot, and no discord. Really curious about that one

2) Blueberrymarkets just entered a week ago and already has 3.8k discord members. So it seems like its getting traction. However, some people are suggesting its related to "Eightcap", and that "Eightcap" is getting the MQ license revoked, and hence this could come up bite blueberry in the ass. Anyone has any insights?
  • #40,899
  • Aug 19, 2024 1:09am Aug 19, 2024 1:09am
Quoting TrAndy1
{quote} It seems you have a problem, when other traders are profitable. Stop being so negative it hurts in your own trading. I post it because a) want to motivate others and b) make a comparison to prop accounts as it is similar traded to a $200k prop challenge, I said this already. So you did NOT read previous posts too and then barking.
There is a very clear difference between what you are doing and Monty. He only posts prop firm results in here... which is the exact topic of this thread! No one cares about your personal non verified results. There are several of us in here with personal onshore/offshore accounts and we never post about them in this thread for a reason... it's completely OFF TOPIC! Stop spamming this thread, you can easily start a daily trading journal elsewhere on this forum. If you have prop firm/Darwinex results... feel free to post it in here and no one will have an issue with you.
  • #40,900
  • Aug 19, 2024 1:28am Aug 19, 2024 1:28am
Quoting OranJuice
So it seems like its a trend that brokers are setting up shop in the propfirm space. This can be either an extremely well anticipated reversal in the downturn trend of propfirms due to the numerous scams recently, or, their presence can make the whole situation much worse. Lets see! Some open questions to everybody 1) Anyone has traded ICMarkets and got funded/payouts? Small number of reviews only on trustpilot, and no discord. Really curious about that one 2) Blueberrymarkets just entered a week ago and already has 3.8k discord members. So it seems...
To 2) you are right. Avoid Blueberry at least for the now.

"Blueberry Markets is an entity name of Eightcap Pty Ltd, an Australian-based broker that offers online trading to a worldwide client base. The broker was founded in 2016 by a former AxiTrader. Blueberry Markets is authorised and regulated by the ASIC and the SCB."
https://theforexgeek.com/blueberry-markets-review/

"Blueberry Markets Group is a trading name of Eightcap Pty Ltd. Eightcap is regulated by the Australian Securities & Investments Commission (ASIC)."
https://www.forex-mag.com/reviews/blueberry-markets/
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