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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} 8cap.. xD "WE GOT TIRED OF TRADERS LOSING IN 2 STEP EVALUATION PROGARMS" and uses 8 cap.. yes.. they prefer you to lose in 1 step programs.Ignored
DislikedThe Funded Academy have been planning a gradual breakaway from TCF and recently just announced that they'll be going with EightCap as their broker when they make the shift.Ignored
Disliked{quote}-It seems that the new broker offerings may only be available for the extended program. Maybe migrating all existing Aggressive accounts would be too troublesome. Is eightcap a financial backer as well? If not, I wonder who is going to be backing the extended programs if Traders Central will not be.Ignored
DislikedI see. Thanks for the info. The problem with those direct funding, accelerated type programs where the buy-in fee matches the draw-down, is that you never really know if you are being given a large account to trade with. They could secretly match your buy-in fee with the same amount of funds, and put the combined funds into an account that has a lot more leverage (notice how the leverage on such accounts is always smaller?). Matching your buy-in creates a buffer so that your funds are fully exposed in case of margin call/close, but also fully protects...Ignored
Disliked{quote} I know when EAs can work (sometimes), I developed a few. Someday, I will develop a consistently profitable one (may be). Muhammedfx, you are a transparent man, that are showing your trade explorers, nothing to hide. I appreciate your honesty. I do it as well, only testing 14-day FTMO challenge trials. All profitable, 2 of 3 passed, no EAs.Ignored
DislikedI see. Thanks for the info. The problem with those direct funding, accelerated type programs where the buy-in fee matches the draw-down, is that you never really know if you are being given a large account to trade with. They could secretly match your buy-in fee with the same amount of funds, and put the combined funds into an account that has a lot more leverage (notice how the leverage on such accounts is always smaller?). Matching your buy-in creates a buffer so that your funds are fully exposed in case of margin call/close, but also fully protects...Ignored
Disliked{quote} Totally correct. No direct funding offer seems worth it or even comparable to a regular evaluation account. Just a sneaky play on words and numbers. DT4X has the best DF conditions and don't even come any where close. IMO - Evaluation Account >> Personal accounts >> DT4X Direct funding >> All other Direct funding programsIgnored
Disliked{quote} In general they don't, mostly they follow indicator algorithms and the markets don't follow indicator algorithms. They may work for a while though, and in particular Martingale based EAs, may be very profitable until they blow the account while you are sleeping. There is a high traffic Telegram group for cracked EAs, thousands of messages a day, thousands of suggested EAs, thousands of blown up accounts reported.Ignored
Disliked{quote} In general they don't, mostly they follow indicator algorithms and the markets don't follow indicator algorithms. They may work for a while though, and in particular Martingale based EAs, may be very profitable until they blow the account while you are sleeping. There is a high traffic Telegram group for cracked EAs, thousands of messages a day, thousands of suggested EAs, thousands of blown up accounts reported.Ignored
Disliked{quote} Few work's good, don't forget you have sell signal here {image}Ignored
Disliked{quote} Few work's good, don't forget you have sell signal here {image}Ignored
Disliked{quote} i actually shorted EJ and CJ today, took a loss on Gold but according to plan so can t dwell on that, was stalking also UC for a long but i gave up on that as it was close to London fix, altho worked out great.nice week. EDIT> the TVIEW arroows mark the buy and sell, partials 2, US30 nice setup for a short but 2 late on friday {image} {image} {image} {image}Ignored
Disliked{quote} Good trades. Took a CadJpy short too to close the week. Later entry than yours, around 92.21 or there about, got out for about 40pips. {image} Should finish up this testing phase with TCF by next week. 14th Nov should be first pay day, The Moment of truth. It's a 10k account so i believe they should have no problem. I will consider getting the 100k account with any profits gained...... if i don't go Expo on the account soon though lolIgnored
Disliked{quote} what i do is first few days or first week of every month try to build a cushion of 2 or 3% risking only 0.5% per trade. once i do that i ll risk 1% per trade. if i go back to the initial balance in case of a losing streek, i go back to risking 0.5% and try to build up that cushion again. there s no point to go all in. imho most system of trading aproach are winners in the long run, but our mentality and psichology is what kills us as traders. also risk vs reward paramount imo so u won t have to be right 90% of the time to make money. i personally...Ignored
Disliked{quote} Great MM strategy. I have expressed many times the risk per trade must be based on allowed loss. So, of course, in a personal account, it's the entire account. So with a risk of ruin of say, 20 losers in a row, you can risk 5%. With the prop firm, it must be 5% of the 10-12% allowed DD, so 0.5% is dead on. Once you're playing with the markets money, you can be more aggressive. Great approach.Ignored
Disliked{quote} what i do is first few days or first week of every month try to build a cushion of 2 or 3% risking only 0.5% per trade. once i do that i ll risk 1% per trade. if i go back to the initial balance in case of a losing streek, i go back to risking 0.5% and try to build up that cushion again. there s no point to go all in. imho most system of trading aproach are winners in the long run, but our mentality and psichology is what kills us as traders. also risk vs reward paramount imo so u won t have to be right 90% of the time to make money. i personally...Ignored