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  • #44,741
  • Nov 28, 2024 6:53am Nov 28, 2024 6:53am
Smart Prop Trader, a prop firm offering funded trading accounts, announced it will cease accepting new traders as it prepares to wind down operations by year-end.
https://www.financemagnates.com/fore...anies-shutter/
  • #44,742
  • Nov 28, 2024 6:54am Nov 28, 2024 6:54am
This is confusing, we are in end of Nov 2024 and the futures of Feb has the highest volume. I guess we have to trade GCG5 now.
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Drawdown is more important than Account Size !
  • #44,743
  • Nov 28, 2024 6:56am Nov 28, 2024 6:56am
Quoting TraderTero
Smart Prop Trader, a prop firm offering funded trading accounts, announced it will cease accepting new traders as it prepares to wind down operations by year-end. https://www.financemagnates.com/fore...anies-shutter/
The only surprise is how artist Blake resisted so much time.
  • #44,744
  • Nov 28, 2024 7:12am Nov 28, 2024 7:12am
Quoting procrude
This is confusing, we are in end of Nov 2024 and the futures of Feb has the highest volume. I guess we have to trade GCG5 now. {image}
The most active periods are based on quarterly settlements.

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Trade with confidence, trade without fear.
  • #44,745
  • Nov 28, 2024 8:15am Nov 28, 2024 8:15am
Quoting Capablanca
{quote} I also got a notification to be interviewed and there are many people in Discord claiming about the same. I think they may be running out of cash. The next slots available are only for the 2nd week of December. Until then payouts are on hold and no trading allowed, which is very convenient if they need to collect cash from challenges to be able to pay. Alpha has always been very shady. They started by KYC done twice for no reason and now they went to another level. I would be careful with Alpha futures. The nature of the people behind it...
My friend got asked to do an interview as well. He got screwed two months back for being in deep drawdown on a trade. Went and started a new account, and got asked to do an interview for the payout. I've stopped trading with them completely.
  • #44,746
  • Nov 28, 2024 8:23am Nov 28, 2024 8:23am
Quoting montygoldy
Asia Update DOne for the week....... BEautiful gold longs tried 3 times... 2 times hit breakeven but third time the charm hit all tp's.... As today and tomorrow will be counted as 1 day coz of thanksgiving holiday so done for the week......... 1. MFFU (FUNDED) - 50kx3 - nearly 1000$ total (First account payout approved today alot of drawdown in there n including today profit i hit 30 winning days mark... lets see if they move this one to live. Second account and third account need 800$ more to...
Only by trading in gold, with lots of courage , this result is possible.

Keep it up.

Be aware of consistency rule 20 %
Intraday only.
  • #44,747
  • Edited 8:51am Nov 28, 2024 8:31am | Edited 8:51am
Quoting genuine007
{quote} If I talk about my last 2 trades that I recently taken. 1 trade ends in BE after reversing from 1:2 RR 2nd trades end in SL after reversing from 1:2 RR & When I see your trades your trades are like 5:1 RR You taking profit so quick, few pips with heavy lot, risking too big I am not saying right or wrong, its all about the way we trade! But you may not hurt that much than a person whose profitable trades reversed.
I am not sure where you getting the 5:1 RR logic on my trades otherwise i would have been denied by all these firms and hittlng daily loss limit each trade. I have a hard stop at 2:1 n even then close early when its apprarent they are going to hit my stoploss and usually my a+ setups wont even go in drawdown except the gold crash 2 days back in asia. For eg today gold longs went in minute drawdown and straight path to tp which is 4 points on gold which in eyes not a small target. I have fixed ratio for contract size based on the instrument and drawdown. For eg for gold every 1500 drawdown equivalent to 1 mini where as nasdaq 2500 drawdown to 1 mini. You’re forgetting in futures we dont have luxury to hold overnight heck even need to close 1 hour before the day end. So going for monster targets are impossible.
I shared the stats… i am circling the actually stats which will clear your doubts. Maths says nearly 1:1 RR on my trading style...
Also point to remember on my screenshots to check the time candle time as well they are different in each in screenshot....
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Extreme gut feeling trader
  • #44,748
  • Nov 28, 2024 8:52am Nov 28, 2024 8:52am
Quoting montygoldy
{quote} I am not sure where you getting the 5:1 RR logic on my trades otherwise i would have been denied by all these firms and hittlng daily loss limit each trade. I have a hard stop at 2:1 n even then close early when its apprarent they are going to hit my stoploss and usually my a+ setups wont even go in drawdown except the gold crash 2 days back in asia. For eg today gold longs went in minute drawdown and straight path to tp which is 4 points on gold which in eyes not a small target. I have fixed ratio for contract size based on the instrument...
People need to learn out of good, instead of criticizing.

I am now fan of yours, at this age, 100.

Intraday only.
  • #44,749
  • Nov 28, 2024 8:55am Nov 28, 2024 8:55am
Quoting navk
{quote} Only by trading in gold, with lots of courage , this result is possible. Keep it up. Be aware of consistency rule 20 %
I have learnt and improved my gold strategy alot. Now the style should be not to try to pick the high or bottom instead let it reverse first or then eat during the momentum.. Thats the lovely thing about futures where there is momentum it'll go straight up n down no nonsense candles.....

Yep i have that number already calculated for each firm based on consistency. For tradeify - not more 1800 a day aiming for 9k profits and for ticktick not more than 1650 as aiming for 8k profits.....
Extreme gut feeling trader
  • #44,750
  • Nov 28, 2024 8:58am Nov 28, 2024 8:58am
Quoting navk
{quote} People need to learn out of good, instead of criticizing. I am now fan of yours, at this age, 100.
yeah not saying i am best trader but heck yeah i have improved alot in last six months.... Thats why i always say DLL is the best for the traders.... I remeber before i used to DLL in one trade all the times or if there is no dll then accoount blown but now its takes atleast 3-4 losing trades just to hit DLL.... even on gold crash day 3 longs tried failed before hitting dll not ona single trade.
Thats why i post everthing good/bad and showed my whole prop journey this year from novice to intermediate prop trader. The mistakes, stupidness, good things and learnings.
Extreme gut feeling trader
  • #44,751
  • Nov 28, 2024 9:04am Nov 28, 2024 9:04am
Quoting Capablanca
{quote} The only surprise is how artist Blake resisted so much time.
THey never had hype even during the peak of forex prop firms bull cycle. Only thing i liked about them is their website design i.e soothing fall style.....
Extreme gut feeling trader
  • #44,752
  • Nov 28, 2024 9:18am Nov 28, 2024 9:18am
Quoting montygoldy
{quote} yeah not saying i am best trader but heck yeah i have improved alot in last six months.... Thats why i always say DLL is the best for the traders.... I remeber before i used to DLL in one trade all the times or if there is no dll then accoount blown but now its takes atleast 3-4 losing trades just to hit DLL.... even on gold crash day 3 longs tried failed before hitting dll not ona single trade. Thats why i post everthing good/bad and showed my whole prop journey this year from novice to intermediate prop trader. The mistakes, stupidness,...
I am trying to maintain less than 0.5 % earnings out of 150k account.

The DLL ( 3.5 k ) really helps in building Threshold.
Intraday only.
  • #44,753
  • Nov 28, 2024 9:23am Nov 28, 2024 9:23am
Inserted Video


Love this guy proving all haters wrong...
He Genuinely trades with big sizes live on stream..... shows balances....
Never missed any of his stream (highlight i mean)
Extreme gut feeling trader
  • #44,754
  • Nov 28, 2024 9:30am Nov 28, 2024 9:30am
Quoting navk
{quote} People need to learn out of good, instead of criticizing. I am now fan of yours, at this age, 100.
No, I have now stopped learning new things. I am not strategy hopping now. I don't want to compete with anyone or to learn someone's style.
I am taking it as a challenge to be disciplined and follow my trading plan without any rule break for the next 1 complete year.
Even if it will give me losing trades I will not care, I will just stay disciplined and stick to just single strategy.
I will take 2025 year as a year full of trading discipline. No money-goals. No profit-goals.
  • #44,755
  • Nov 28, 2024 9:38am Nov 28, 2024 9:38am
Quoting montygoldy
https://www.youtube.com/watch?v=jnm2...PatrickWieland Love this guy proving all haters wrong... He Genuinely trades with big sizes live on stream..... shows balances.... Never missed any of his stream (highlight i mean)
he sold 3000 courses , he says , at $199 , that is almost 600K



“In 1983, legendary commodity traders Richard Dennis and William Eckhardt held the turtle experiment to prove that anyone could be taught to trade. Using his own money and trading novices, how did the experiment fare?”

Https://www.investopedia.com/article...le-trading.asp

and they did not ask any money to teach their strategy
  • #44,756
  • Nov 28, 2024 9:52am Nov 28, 2024 9:52am
Quoting genuine007
{quote} No, I have now stopped learning new things. I am not strategy hopping now. I don't want to compete with anyone or to learn someone's style. I am taking it as a challenge to be disciplined and follow my trading plan without any rule break for the next 1 complete year. Even if it will give me losing trades I will not care, I will just stay disciplined and stick to just single strategy. I will take 2025 year as a year full of trading discipline. No money-goals. No profit-goals.
Strategy 40 %, the mental strength 60%
Intraday only.
  • #44,757
  • Nov 28, 2024 10:08am Nov 28, 2024 10:08am
Quoting Stoneyrocks
{quote} he sold 3000 courses , he says , at $199 , that is almost 600K “In 1983, legendary commodity traders Richard Dennis and William Eckhardt held the turtle experiment to prove that anyone could be taught to trade. Using his own money and trading novices, how did the experiment fare?” Https://www.investopedia.com/article...le-trading.asp and they did not ask any money to teach their strategy
i am not against selling courses heck why not. This notion if you’re profitable why u need to do this is completely wrong… its like a business venture if you have a successful business its doesnot mean you cant open more businesses… i mean.. the best thing he is doing on prop firms and doing actual live trading and his understanding and analysis is top notch personal opinion…
why we call these them fake gurus like mambax bs people because they dont do live trading consistently. Its easy to fake numbers on brokerage accounts by using some nonsense brokers…
the best thing i like about patrick is he just dont talk shit but do it as well.. had a beef with topstep guys and took the challenge and he is now in their top 5 leaderboard in record time…. Milking them hard…. Kudos to him…

Motivator…
Extreme gut feeling trader
  • #44,758
  • Edited 10:51am Nov 28, 2024 10:30am | Edited 10:51am
Quoting montygoldy
{quote} i am not against selling courses heck why not. This notion if you’re profitable why u need to do this is completely wrong… its like a business venture if you have a successful business its doesnot mean you cant open more businesses… i mean.. the best thing he is doing on prop firms and doing actual live trading and his understanding and analysis is top notch personal opinion… why we call these them fake gurus like mambax bs people because they dont do live trading consistently. Its easy to fake numbers on brokerage accounts by using some...
“By the early 1980s, Dennis was widely recognized in the trading world as an overwhelming success. He had turned an initial stake of less than $5,000 into more than $100 million. “

if you have the choice between Richard Dennis who will teach you a strategy, that has proven itself over many years ,for free or buying a course ( does it have a complete strategy ?) and figure things out yourself , for $199 from a guy who just started out and maybe had luck on his side , who would you choose ?

I have no opinion about this Patrick, just saw this video, could well be a great trader , time will tell..
  • #44,759
  • Edited 11:00am Nov 28, 2024 10:34am | Edited 11:00am
Quoting genuine007
{quote} If I talk about my last 2 trades that I recently taken. 1 trade ends in BE after reversing from 1:2 RR 2nd trades end in SL after reversing from 1:2 RR & When I see your trades your trades are like 5:1 RR You taking profit so quick, few pips with heavy lot, risking too big I am not saying right or wrong, its all about the way we trade! But you may not hurt that much than a person whose profitable trades reversed.
Winning % WILL ALWAYS be higher with smaller target/larger stop, opposite with tight stop/larger target.
You need a higher win rate with smaller targets and a much lower win rate with higher target to stop.
https://tradeciety.com/how-to-use-re...sk-ratio-guide

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PROFESSIONAL TRADERS ABOUT REWARD:RISK RATIO
When you read trading books or listen to interviews with successful traders, you will notice that the majority (if not all) talk extensively about the reward-to-risk ratio and how managing their risk is a vital part of their trading success. Below, we have selected a handful of trading quotes from the best traders, explaining their view of the reward-to-risk ratio.

“You should always be able to find something where you can skew the reward-risk relationship so greatly in your favor that you can take a variety of small investments with great reward-risk opportunities that should give you minimum drawdown pain and maximum upside opportunities.” – Paul Tudor Jones

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros

“Frankly, I don’t see markets; I see risks, rewards, and money.” – Larry Hite

“It is essential to wait for trades with a good risk-reward ratio. Patience is a virtue for a trader.” – Alexander Elder

“Paul Tudor Jones [had a principle he used to use] called 5:1. […] he knows he’s going to be wrong [sometimes] so if he loses a dollar and has to spend another dollar, spending two to make five, he’s still up $3. He can be wrong four out of five times and still be in great shape.” – Anthony Robbins on Paul Tudor Jones

“The most important thing is money management, money management, money management. Anybody who is successful will tell you the same thing.” – Marty Schwartz
  • #44,760
  • Nov 28, 2024 10:39am Nov 28, 2024 10:39am
Quoting Capablanca
{quote} I also got a notification to be interviewed and there are many people in Discord claiming about the same. I think they may be running out of cash. The next slots available are only for the 2nd week of December. Until then payouts are on hold and no trading allowed, which is very convenient if they need to collect cash from challenges to be able to pay. Alpha has always been very shady. They started by KYC done twice for no reason and now they went to another level. I would be careful with Alpha futures. The nature of the people behind it...
Once again, I'll repeat for the one hundreth billion time........the scammers coming from forex to futures..........DO NOT USE THEM.....it will ruin the futures space the way it ruined the forex space.. The one exception appears to be Matt with MFFU as he is doing futures right......the whole key is getting your profitable traders to live and off of your balance sheet.....it's legit and will keep the firm in business.
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