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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

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Quoting Trader191
{quote} in broker should not happen, you can decide by your own if you lose money with a broker or not in case of bankrupt. you can always chose a broker who is save until xxx funds by security fund or better save yourself inside the broker against broker bankrupt by have structured products outside bankrupt money. so this argument should not be valid.
You have no experience.? It is by far not that easy. If you ever was involved into an insolvent broker you would speak totally different. It seems to me you are not a big trader or not trading much at all, maybe only some longterm investments. As trader you should be far more concerned about the brokers, that they come and go. I have seen so many brokers go bust over the years, that I cannot speak a good word to them. Of course the big ones are more sure, but that is no guarantee at all. As always.
Quoting montygoldy
Day 2 didn't go as planned.... 1. Myflasfunding back at breakeven first 1.5% UP then went into drawdown and came back. 2. BlueGuardian lost 3.5% in profits. 3. Skilled - passed phase 1. Literally gold volatility ate my profits. {image} {image} {image} {image}
DAY 3 again roller coaster UP DOWN n back
1. Skilled- close to 2% down
2. myff up %5
3. Blueguardian- kinda succker two times went over 5% and came back still at phase 1
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Extreme gut feeling trader
Quoting TrAndy1
{quote} You have no experience.? It is by far not that easy. If you ever was involved into an insolvent broker you would speak totally different. It seems to me you are not a big trader or not trading much at all, maybe only some longterm investments. As trader you should be far more concerned about the brokers, that they come and go. I have seen so many brokers go bust over the years, that I cannot speak a good word to them. Of course the big ones are more sure, but that is no guarantee at all. As always.
ok how you did secure your money inside this broker? how much money you use for structured products and use the margin from this for intraday trading?

of course when you only invest in bad brokers , your argument is true, but why i should do. thats why your experience is so bad and total out of reality.

did you one time traded from a margin of structured products and get bankrupt and had problems to get your structured products ? you know what is a structured product , or? maybe you dont know and never hold it and thatswhy your experience?
for a security fund can take 1 year to get your money back,... but how many times you did not get it back?

i cant believe what you write here, because security should be a easy topic in general, because total out of any subjectivity. and we did not even speak about custodian service and bank guarantees....
i have never seen people have problems secure millions in a broker, if they chose a good broker and know about the basics how to do (what are only 2 , so not to complicated). but even because of trading you never take a small bad broker, because you want good conditions and fill and service (ok, this last point some sacrifice for even cheaper conditions).

you look not total new in trading, but looks like you never got over a point of medium level trading, so you never did come to the real problems of trading and money saving and security and how to secure some millions and trade from this. and thatswhy all your experiences is about bad brokers you use, what is no full picture of what is possible to do and often the traders mistake by dont know some parts of the basics of trading (in this case: how to secure funds and still trade from it).

when for you such easy topics are already complicated, how you want then trade and build up a good trading career on it. then better learn all the basics (not only some parts) and build a whole picture, because some day this missing informations will hit you hard longterm.
Quoting fxguru2010
NOVA FUNDING I successfully passed my $200,000 challenge and was given credentials for a live account. I started setting up my MT4. and was looking to start trading on monday. as they require 21 days wait for a payout wait since the first trade, so I took a tiny 0.05 trade to get the ball rolling and was intending to close it immediately as that would count as day 1 After taking the trade I tried to close and the MT4 did not allow me to close it, which then resulted in having this tiny position over the weekend (which is not allowed) I emailed support...
You need read the rules before you complain about Nova. Its noted in their website about the rules for no weekend holding. https://nova-funding.com/faq/
For me, after having been traded with FTMO, MFF, MFFX, Funded engineer, and others , and got many payouts from those firms.
Today I got my third payout from Nova, I can say, Nova is one of the best firms that I have worked with.
First of all, its easy to get a live account, all you need is a good HFT ea, you can pass the challenge in no time. Basically in a day, you will work on a live account instead of going through challenge after challenge as in other prop firms.
Once live, you got to read the rules, make sure you follow the rules, do as it says, you will get paid.
I used HFT ea to pass my Nova challenges, once passed the challenge, , I traded manually on my live accounts. I tried not to open trades on Fridays. in case I had positions on Friday. I emailed them for approval for holding the trades over the weekend. it happened to me once.
Quoting Boulder
{quote} You need read the rules before you complain about Nova. Its noted in their website about the rules for no weekend holding. https://nova-funding.com/faq/ For me, after having been traded with FTMO, MFF, MFFX, Funded engineer, and others , and got many payouts from those firms. Today I got my third payout from Nova, I can say, Nova is one of the best firms that I have worked with. First of all, its easy to get a live account, all you need is a good HFT ea, you can pass the challenge in no time. Basically in a day, you will work...
You are lucky with Nova. I have not seen so far any prop that offers HFT in evaluation that they could provide payouts for longer. Sooner they'll get to scam-artists here.
wonder how free giveaway by alpha capital gonna affect the rest of prop firms, since thousand's of people are waiting to sign up, if some of those prop firms rely on income from sign up's, this is gonna put dent in their pocket ?
Do not want to say too bad things about Apex. But the missing tick data is like having a spread markup or bigger commissions as you miss some profitable Orderflow setups. It is not totally useless of course. You still have fast streaming data, but the quality is just not the best. So I am thinking to invest here further, still undecided. I want to see the next days how much I am missing on good setups in the end. I also can reload charts more often to see any differences quite early as I did today too. That can help and be solution, but not so comfortable of course. I would like to hear other experiences from trading Orderflow with Apex datafeed. What others do say ?.
Okay here is the latest response from Apex support staff. One is using IQfeed for good non-aggregated realtime data. That would be the only good solution I guess.

"Hi,
I use Apex Rithmic feed but also have IQ Feed for non-aggregated tick data in NinjaTrader. You could try having market data turned on with plug in mode turned on and if that is not giving you the data you need would need to purchase IQ Feed or Kinetick.
Support
"
The IQfeed slogan. Do not know about how is esignal, because they have a similar pricing and are also integrated in Ninjatrader ?
"DTN iQFeed
Non Executable Feed
While many market data products provide a snapshot of real-time data - or use protocols that are less likely to delivery every tick, IQFeed provides a TRUE, tick-by-tick datafeed. IQFeed feed is completely unfiltered, allowing you to see EVERY TRADE the exchange sends in real-time. Because many symbols trade dozens of times per second, you could be missing more than 50% of the actual trades with your current service!"
Quoting StreetPunk
wonder how free giveaway by alpha capital gonna affect the rest of prop firms, since thousand's of people are waiting to sign up, if some of those prop firms rely on income from sign up's, this is gonna put dent in their pocket ?
completely forgot getting in queue to get myself one as well…
Extreme gut feeling trader
Quoting montygoldy
{quote} completely forgot getting in queue to get myself one as well…
it's actually you that mentioned it first, thx.
Haven't registered yet , web site is suppose to be able handle traffic sometimes tonight, looks like they were surprised by huge volume.
Quoting HengkiTjen
okay guys i sure many trader better than me i not showing off, just wanna you guys be a witness this process payout . thank you {image}
Hey folks just update I have received payout
Great
Quoting StreetPunk
wonder how free giveaway by alpha capital gonna affect the rest of prop firms, since thousand's of people are waiting to sign up, if some of those prop firms rely on income from sign up's, this is gonna put dent in their pocket ?
They will not do it again because it made their site down and even their paid traders cannot access to the dashboard. And also it attracts the wrong audience, mainly broke teens who would never spend a dime anyway. They will almost all lose their account the first day.
Free lunch is not a good idea for any business.
I was in their Discord this afternoon and it was funny because those kids made the Alpha support guys crazy.
Don't give up on your dreams. Keep sleeping.
Quoting Austyno
I don't know if this is allowed here i am offering an account management service, so if you are interested, feel free to send me a dm lets discuss. if you are not interested, feel free to ignore. The offer is valid for this month only.
If this is account managing for props you should know that it is forbidden by props T&C.
Besides, this is a commercial offer which is not allowed here. We're not here to sell anything. We're here just to share experiences for free.
Quoting HengkiTjen
{quote} Hey folks just update I have received payout Great
With so many thing going around sometimes my brain just freezes. Just remind me what prop was this ?
Quoting Capablanca
{quote} With so many thing going around sometimes my brain just freezes. Just remind me what prop was this ?
Skilled funded Trader
so far spread and slippage is good
SO FAR
@TrAndy1
Check this video for connecting APEX to Sierra. I am not sure if you can use the CQG data and make deals on APEX account simultaneously, but I hope it helps

Inserted Video
Quoting fx_rookie
@TrAndy1 Check this video for connecting APEX to Sierra. I am not sure if you can use the CQG data and make deals on APEX account simultaneously, but I hope it helps https://www.youtube.com/watch?v=V3NhJ2KGbrQ
Thanks, I had this on my list too. But I think the Denali feed, which is cheaper than IQfeed, also has much reduced ticks in comparison to IQfeed, I believe.
for those profitable prop firm traders in the UK, are you trading as self-employed contractor or as a limited company. and how are you describing your services to the taxman? gambler, fx trader, financial advisor/consultant, etc?
ZTIRHNV All Time Return: -20.4%
Quoting Sc11
for those profitable prop firm traders in the UK, are you trading as self-employed contractor or as a limited company. and how are you describing your services to the taxman? gambler, fx trader, financial advisor/consultant, etc?
you need to say trader because otherwise you will pay sales tax on all your income + income tax, as trader you should only pay income tax. If authorities say something you can say you are demo trader only or trader on demo accounts only. That way you cannot be classified to register. I want to do it that way too. On financial transactions there should not be any sales tax. If you just say self employed you will pay 100% sales tax on all your income in addition to other tax. Which is not good.
Recently I figured out that you can use free yahoo data too, which is also realtime for FX, NYSE markets. You need an API to pull data from. But then I do not need IQfeed anymore so I can save my $160 monthly expenses here. Will also reload charts from time to time in Ninjatrader with Apex feed. That should be ok workaround.
Myself I can say especially on the FX exotics I can see the historical data from yahoo is MUCH, MUCH better than IQfeed ones. There are too many data errors on IQ. So yahoo is best for historical and you use it free for cash markets too. Do not know if that is Reuters data for Forex, but the data is excellent what I get from yahoo. Check it out for yourself. I just canceled my IQfeed subscription therefore. Pulling streaming Yahoo data is fine and enough for me. I do not see why I should spend money when I can have better data for free and also realtime. Historical data is better because less errors in the data points. Did not check google finance data, maybe same.
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