Disliked{quote} I love you pipmaster, but it doesn't because your math doesn't take into account full withdrawal. It only compares full compound. But I love you anyway and I still don't like the model.Ignored
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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} I love you pipmaster, but it doesn't because your math doesn't take into account full withdrawal. It only compares full compound. But I love you anyway and I still don't like the model.Ignored
Disliked{quote} Yes we are, I just realized it also, I am talking form the starting balance and you are talking from the equity, lolIgnored
Disliked{quote} I love you pipmaster, but it doesn't because your math doesn't take into account full withdrawal. It only compares full compound. But I love you anyway and I still don't like the model.Ignored
Disliked{quote} Well as long as you still love me. But, can you demonstrate this with some figures as I have with the opposite view. You cannot even trade the same size with the prop firm as you can with your personal account with these models. Even after scaling, the personal account is still always larger than the DD on the new "scaled" amount. Wife is standing at my office door, off to install floors in my downstairs, be back in about 7 hours.Ignored
DislikedThe relationship between a trader and a so called prop firm is a Symbiotic relationship. Do you agree? A trader who is (or thinks is) successful, doesn't really need a prop firm other than to grow exponentially. At the same time, it is rare that a trader is allowed to be and do as he/she is capable of being successful on their own due to many constrictive limitations put upon them. So, in most likelihood, a trader has to change themselves in order to fit within the confines of a prop trader. In addition to that, the prop firms have handedly stacked...Ignored
DislikedJust got my scaled up account from MFF, very nice and fast, very happy! Party timeIgnored
Disliked{quote} I agree with you. These companies do not seek more than their own benefit. If they were really looking for a profitable trader, they would be in the structure of an investment fund and would hire qualified traders with validated track records. but since they are not interested in that, they look for new merchants who pay for their membership.Ignored
Disliked{quote} thats quite the first post there. I have worked with futures prop firms and whilst profit is the main goal for everyone, seat fees are a normal thing. Its basically a "if you are so good, we will fund you, if you're not but think you are pay the fee and try". To put all the burden purely on the companies i think is very unfair especially since so many people in retail FX specifically think they have what it takes when sadly they do not.Ignored
Disliked{quote} I would say it is this way: if you are very good we will finance you and if you are not, we will give you an opportunity to pay our fees until you get tired. The interesting thing about it is that the applicants who pay for funded accounts of 50,000 or 80,000 believe that they are giving them 50,000 or 80,000 real dollars and that is something that saddens me about some platforms. They will still have something positive but I see a lot of negative things on those platforms.Ignored
Disliked{quote} I would say it is this way: if you are very good we will finance you and if you are not, we will give you an opportunity to pay our fees until you get tired. The interesting thing about it is that the applicants who pay for funded accounts of 50,000 or 80,000 believe that they are giving them 50,000 or 80,000 real dollars and that is something that saddens me about some platforms. They will still have something positive but I see a lot of negative things on those platforms.Ignored
Disliked{quote} Across all the companies I have used since February, I have pulled out just over 100k. After passing, I got my fees back except on 1 of the accounts where I messed up. So my risk was like 700 dollars and I have 100k to show for it. Its not the companies job to regulate the individual as to what their capabilities are or aren't. If someone is unsure or doesn't know they can be successful they should just not do it.Ignored
Dislikedcool! what you say is true, these companies are not to blame for traders not knowing what they are doing. But the numbers are clear, between 85 to 90% of retail traders lose money in the markets so most will pay to lose their accounts while a few manage to make it profitable. they are good numbers for these companies. I'm thinking of opening one being honest.Ignored
Disliked{quote} If you have a 1k account, and you make 10%, You get paid $50 + your account becomes 2k. If you traded your $100, and make $100 and withdrew $50, you wouldn't scale anywhere near at the same rate as the accelerated program. Your initial investment in the program would have to be compounded if you didn't buy the program in order to keep up and if you lose it, you really lose it. If you use an accelerated or whoevers direct funding so long as it has regular withdrawals/scaling, you withdraw your profits out so you get paid and remove your risk...Ignored
Disliked{quote} So, for $979 MFF, I get 20K account with 5% ($1,000 DD) or I put the $1,000 in personal account. For simplicity, let's assume a 500 pip risk of ruin on both, so $2 per pip. Stage 1.....I make 1000 pips on both, so $2,000. MFF pays me $1,000(50%) and scales me to 40K with 5% ($2,000 DD). I make the same $2,000 on my account added to the $1,000 I started with totaling 3K, I pull out 1K just like MFF, leaving me with 2K. Same 500 pips risk of ruin now allows $4 per pip on both accounts. Stage 2.... I make 1000 pips again , so $4,000. MFF pays...Ignored
Disliked{quote} So, for $979 MFF, I get 20K account with 5% ($1,000 DD) or I put the $1,000 in personal account. For simplicity, let's assume a 500 pip risk of ruin on both, so $2 per pip. Stage 1.....I make 1000 pips on both, so $2,000. MFF pays me $1,000(50%) and scales me to 40K with 5% ($2,000 DD). I make the same $2,000 on my account added to the $1,000 I started with totaling 3K, I pull out 1K just like MFF, leaving me with 2K. Same 500 pips risk of ruin now allows $4 per pip on both accounts. Stage 2.... I make 1000 pips again , so $4,000. MFF pays...Ignored