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Anyone trading with a Prop firm 6 replies

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Prop Firm Hub

Hello,

Slowly but surely. All the best.

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Thanks
"The markets can remain irrational longer than you can remain solvent."
Quoting mcquak
I expected this thread is intended for sharing real experiences with prop firms. Backseat drivers, please calm down, the math classes are undergoing elsewhere.
But isn't that what's going on? FTMO/MFF/FT traders have all been sharing first hand experiences, evaluation and even earnings. But it seems it's the Direct funding participants of that don't share enough except for PayTheBid and Expo.

For some reason, the guys who push firms like CTI and Lux don't update the thread enough so it always seems like they start the programs, only to realize that the promised $2 million dollars in scaling is like chasing a unicorn with 1:10 and 4% relative DD and either give up while slow grinding or just crash out due to impatience.

By all means, choose the firms that align with your trading style and long term goals, but if what you're after is below moderate gains, i have about 3 other great businesses i could recommend with 10 times less the mental stress involved in speculative trading.
Quoting shyean
Hello, Slowly but surely. All the best. {image} Thanks
Lol gradual progress. Great Job!
Quoting mcquak
{quote} I would rather say, they should go learn from FF retail traders how to make 100% a year with 50% DD with 500$ account size ;-) #sarcasm {quote} It's only a narrow perspective of your opinion taking only eval. fee into consideration. No matter how you spin it. I also feel obliged to steer people away from what is clearly incomplete and narrow-minded greengrocer math. {quote} Just a small correction. Quants do not do trading. Quants are making research and building models that can be eventually used for trading.

Oh ok, and magical rabbits are executing the quants research strategy.
Update on Blue Edge
---------------------------------

HUGE update!:
We are pleased to inform you that effective Monday, October 4th the profit targets have been reduced to 8% for the challenge phase and 4% for the verification phase!

This means that for the challenge phase the basic requirement is now :
only 8% profit
5% max daily loss or 50% profitable days (whichever you chose)
10% max loss
And for the verification phase :
only 4% profit
5% max daily loss or 50% profitable days
10% max loss
Come Monday, October 4th the profit target update will go into effect and will apply to both new challenge takers AND current ones!
We hope that this will be helpful to you ultimately getting funded!
If you have any questions as always please feel free to message support via the live chat on our website
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Quoting mcquak
{quote} I would rather say, they should go learn from FF retail traders how to make 100% a year with 50% DD with 500$ account size ;-) #sarcasm {quote} It's only a narrow perspective of your opinion taking only eval. fee into consideration. No matter how you spin it. I also feel obliged to steer people away from what is clearly incomplete and narrow-minded greengrocer math. {quote} Just a small correction. Quants do not do trading. Quants are making research and building models that can be eventually used for trading.
I'd like to let people here understand that is not about who is the best guy out there. But what is the best long-term solution for a Trader, what is the best environment where to grow. What a better deal to be audited by professionals (KPMG) and managing live funds. They will argue it is difficult to trade with fixed and hybrid 4% DD. But no one never said the financial market were easy... it's the most difficult and competitive job of the world. Good luck to all.
Quoting Takisd
{quote} Oh ok, and magical rabbits are executing the quants research strategy.
Not really, man! It's being run by the homing pigeons.

Quoting HoLoTrader
{quote} I'd like to let people here understand that is not about who is the best guy out there. But what is the best long-term solution for a Trader, what is the best environment where to grow. What a better deal to be audited by professionals (KPMG) and managing live funds. They will argue it is difficult to trade with fixed and hybrid 4% DD. But no one never said the financial market were easy... it's the most difficult and competitive job of the world. Good luck to all.
Precisely, could not say it better.
Hie,

Not this forum related just want to ask one o the FF moderators if its possible to get news beyond 30 days even 2 months
Quoting Takisd
{quote} You are comparing apples to nude blondes in a bar, on a beach, in paradise... calling your name. There would be 0.0000001% of people who are on FF who will get into a hedgefund that has a consistent average of 30%. Most of those funds are quant nowadays anyway. They don't have leverage and retail strategies are not applicable.
Exactly right. Who on earth wants to start a challenge with 4% trailing DD when you can get a better one with 5% fixed!

And I don't need to do any research to figure that one out
Quoting mcquak
Update on Blue Edge --------------------------------- HUGE update!: We are pleased to inform you that effective Monday, October 4th the profit targets have been reduced to 8% for the challenge phase and 4% for the verification phase! This means that for the challenge phase the basic requirement is now : only 8% profit 5% max daily loss or 50% profitable days (whichever you chose) 10% max loss And for the verification phase : only 4% profit 5% max...
Strange how TCF have done exactly the same thing at exactly the same time!!
I also received email from trader central fund. Seem like everyone change their rule to stay competitive
Quoting HoLoTrader
{quote} I'd like to let people here understand that is not about who is the best guy out there. But what is the best long-term solution for a Trader, what is the best environment where to grow. What a better deal to be audited by professionals (KPMG) and managing live funds. They will argue it is difficult to trade with fixed and hybrid 4% DD. But no one never said the financial market were easy... it's the most difficult and competitive job of the world. Good luck to all.
Lol I could get run over by a drunk driver while crossing the streets, you could get mauled by a loose rabid dog while getting out of your car, someone else's plane could crash unexpectedly, regulations may arise that could restrict prop firms from sourcing remote traders or traders outside country of operation. Hell, there's currently a ban on twitter and local inter-bank cryptocurrency transactions where i'm from... who's to say they won't drum up some new rules later on to hinder us from exploiting such opportunities in future?

I say that to say this, The prop firm's survival or whether or not it is a real prop firm or not.... is NOT the only cause for concern. it's great to think long term but ignoring the short term opportunities and possibilities in a world with so much uncertainty is not that wise.
If you can pass the Lux challenge with such stringent rules but you can also be aggressive (for one month) enough to pass an FTMO or MFF evaluation, i know which one is going to give the best gains within a year.
But why limit ourselves?
Quoting jinsen
I also received email from trader central fund. Seem like everyone change their rule to stay competitive
It's all the same white labels of Traders Central. I can go into my email right now and open a prop firm as a white label of them. They send me emails weekly. Hard to find any payout proofs from any of them. The big drawback with any of the white labels or TCF themselves is you cannot withdrawal AND scale at the same time. When you hit 10%, you have a choice of withdrawal OR scale. Of course, anything above 10% is withdrawable.
Quoting Koop
{quote} Lol I could get run over by a drunk driver while crossing the streets, you could get mauled by a loose rabid dog while getting out of your car, someone else's plane could crash unexpectedly, regulations may arise that could restrict prop firms from sourcing remote traders or traders outside country of operation. Hell, there's currently a ban on twitter and local inter-bank cryptocurrency transactions where i'm from... who's to say they won't drum up some new rules later on to hinder us from exploiting such opportunities in future? I say...

agree with you 50%. Indeed i would say do both like me, but be careful on relying too much on ftmo etc. Focus where the real money is, the rest is out of our control. If you have a 9 to 5 job and get 200k account on FTMO... don't even think to leave your job like a lot of people is aiming for. Even if you make your annual salary in 2 weeks, because of it's ambiguous nature.
Quoting HoLoTrader
{quote} agree with you 50%. Indeed i would say do both like me, but be careful on relying too much on ftmo etc. If you have a 9 to 5 job and get 200k account on FTMO... don't even think to leave your job like a lot of people is aiming for. Even if you make your annual salary in 2 weeks, because of it's ambiguous nature.
Are you thinking it's not a viable long term solution? If so, why? Just curious as to why you would state that. They've been going 6+ years.
Quoting pipmaster77
{quote} Are you thinking it's not a viable long term solution? If so, why? Just curious as to why you would state that. They've been going 6+ years.
Even Madoff went very well for a lot of time..

I don't think it's a viable long term solution, 50% because for all the reason stated by Koop. 50% because of it's ambiguous and unclear nature. I see them as a cards castle.
Quoting HoLoTrader
{quote} Even Madoff went very well for a lot of time.. I don't think it's a viable long term solution, 50% because for all the reason stated by Koop. 50% because of it's ambiguous and unclear nature. I see them as a cards castle.
whatever the future holds, if ur doing something right, u should be able to trade your own funds regardless of what might happen after with the props, u still pay taxes but u keep 100% of the profits. the market has been there for hundreds of years thro wars, plagues, financial crisis etc..doubt that it will disapear anytime soon.
Quoting HoLoTrader
{quote} Even Madoff went very well for a lot of time.. I don't think it's a viable long term solution, 50% because for all the reason stated by Koop. 50% because of it's ambiguous and unclear nature. I see them as a cards castle.
So same thoughts on MFF as well I imagine? However, you believe LUX to be a long term solution? Just trying to understand your thought process.
Quoting 1odi
{quote} whatever the future holds, if ur doing something right, u should be able to trade your own funds regardless of what might happen after with the props, u still pay taxes but u keep 100% of the profits. the market has been there for hundreds of years thro wars, plagues, financial crisis etc..doubt that it will disapear anytime soon.

I am totally agree with you. My only concern is: What will happen when the flow of people in "prop firms" giving you demo accounts will end? Where they will take money for paying all the traders and the costs associated with running such business? They are not an hedge fund neither a financial institutions, they don't have any kind of regulation. I see it just as a pyramid where the people at the base holds the whole structure with their fees. What when the flow of people will cease holding the structure?
Quoting pipmaster77
{quote} So same thoughts on MFF as well I imagine? However, you believe LUX to be a long term solution? Just trying to understand your thought process.

I have done a lot of research, Lux Trading it's a prop trading department of Chelton Wealth. Chelton Wealth it's real, and has all the regulations for operating on the financial markets. They are near 70kk under management. Under 100 millions of aum, we are talking about a small Hedge Fund so. But at least it's real and regulated.

Talking about other firms, where are all those public data? I want to see their assets under management and their regulations. Where are them. Without all those informations i simply can't see them as a professional environment where to grow long term

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