Avatrade launched futures trading, they offer metatrader 5 thats nice, more brokers will offer futures due to regulatory reasons in europe i guess
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prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} Thank God, I finally passed phase1, But its just mini 5k account, Still its okay to push me if I receive payout I kept extra 40 $ in my bank account to purchase the next 5k account in case something bad happens & some petty cash to pay internet bill, phone recharges & tv connection recharge I passed Phase1 But still I am not happy. WHY? Because I did not follow my strategy fully. I break some of my rules like :- I did not wait for tp to hit in all the entries except the last winning trade I did not wait for the next setup to arrive, but...Ignored
DislikedI don't get it. Prop firms make their living by people blowing accounts and buying new accounts. At FTUK they have a rule that you are not allowed to risk more than 2% per trade. If you do so, they used to issue a warning. Now they even made a tool closing the trade automatically, so that the trader does not violate - and thereby might blow the account. WHY???? What's in it for them to keep the accounts from blowing? {image}Ignored
DislikedI don't get it. Prop firms make their living by people blowing accounts and buying new accounts. At FTUK they have a rule that you are not allowed to risk more than 2% per trade. If you do so, they used to issue a warning. Now they even made a tool closing the trade automatically, so that the trader does not violate - and thereby might blow the account. WHY???? What's in it for them to keep the accounts from blowing? {image}Ignored
DislikedI don't get it. Prop firms make their living by people blowing accounts and buying new accounts. At FTUK they have a rule that you are not allowed to risk more than 2% per trade. If you do so, they used to issue a warning. Now they even made a tool closing the trade automatically, so that the trader does not violate - and thereby might blow the account. WHY???? What's in it for them to keep the accounts from blowing? {image}Ignored
DislikedI don't get it. Prop firms make their living by people blowing accounts and buying new accounts. At FTUK they have a rule that you are not allowed to risk more than 2% per trade. If you do so, they used to issue a warning. Now they even made a tool closing the trade automatically, so that the trader does not violate - and thereby might blow the account. WHY???? What's in it for them to keep the accounts from blowing? {image}Ignored
Disliked{quote} you will find that if you close the trade in loss it will eliminate the chance of it coming back. Also as retail traders go into drawdown they tend to take on more risk for recovery. These trades gathering -2% losses on dailys will increase the probability of ruin of traders who otherwise have no edge. It will also increase the speed of ruin for a lot of them whilst lowering the profitability of those who do make profit from high risk. So the benefit is from two different sides.Ignored
Disliked{quote} Just to follow up on what I said. I get my beloved Meta4(for now anyways). I can trade any way I like. No SL rules, news rules, weird consistency rules, IP address issues, and on and on. I don't have to rush for fear that the rug pull may be just around the corner. No ridiculous profit caps. All I need to do is earn 3-5% per month and I'll have a nice gig for my retirement years And I just like the idea of attracting real capital from real investors. Nobody named Matt, Blake, or Scamgelo. Plus in the first year the total cost to me is 106...Ignored
Disliked{quote} Just to follow up on what I said. I get my beloved Meta4(for now anyways). I can trade any way I like. No SL rules, news rules, weird consistency rules, IP address issues, and on and on. I don't have to rush for fear that the rug pull may be just around the corner. No ridiculous profit caps. All I need to do is earn 3-5% per month and I'll have a nice gig for my retirement years And I just like the idea of attracting real capital from real investors. Nobody named Matt, Blake, or Scamgelo. Plus in the first year the total cost to me is 106...Ignored
DislikedI am ok with these rules because I also believe that most traders shouldn't be funded. Its not a right and people need to stop expecting it to be one. But no matter how hard Matt Leech tries to lie to the public that his new rules are in the favor of the traders, its built because they do not know what they are doing. There are a bunch of things that need to be satisfied for order flow to be useful. - Quantity of data - Quality of data - Removal of toxic flow - Ability to clean data of any toxic flow to preserve alpha The majority of people passing...Ignored
Disliked{quote} With the enormity of data that FTMO as inhouse, can't they use it to early detect group of traders in challenge phase that tick these boxes and that, eventually, as a group, will behave well in funded phase ?Ignored
Disliked{quote} But don't you think 6 to 7 years of track record is not easy to build, who will wait for 7 years to manage 1 million dollars and its not just about the track record, its about understanding its risk engine first because if we don't understand it how can we build that score which is required our strategy can double the account in just 2 weeks if it worked but that includes serious floating drawdown meaning stop loss as the lot size is big when we see explore page of darwinex, we see that traders have different return % and drawdown % and...Ignored