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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

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting Takisd
FTMO are providing leveraged crypto, you are talking about them connecting to an exchange.
-I am not sure how they have things structured. I do know that some of the brokerages that I have spoken to, typically have agreements in place that allowed them to route trades through their exchange, not sure how, maybe an API of sorts. I assume that it is all back-end, using market orders and such, where the fees are pre-negotiated.

Most of the brokers that I have spoken to have partnered with Bitfinex, but I assume that there are other exchanges that have partnerships with brokers. You can trade DOT with leverage on Bitfinex, but the leverage is very small.

I suppose that it might even possible to have an aggregate 'feed' across multiple exchanges, but I would be surprised if any brokers have evolved to that level yet.
Quoting Takisd
{quote} Crypto, including DOT, is very thin liquidity. I would be skeptical of any company providing good fills and execution on reasonable sized orders for that crypto. Even BTC liquidity per price is thin unless the broker is taking the other side of it.
OK, makes sense. But how am i supposed to know that when I cannot see the true DoM? Their platform keeps showing 100mil contracts of DOT available at market price and nothing else
Even a broken clock is right twice a day
Quoting Nsak3y
{quote}-I am not sure how they have things structured. I do know that some of the brokerages that I have spoken to, typically have agreements in place that allowed them to route trades through their exchange, not sure how, maybe an API of sorts. I assume that it is all back-end, using market orders and such, where the fees are pre-negotiated. Most of the brokers that I have spoken to have partnered with Bitfinex, but I assume that there are other exchanges that have partnerships with brokers. You can trade DOT with leverage on Bitfinex, but the...
No one is hedging a 1:100 leverage crypto trade on an exchange. The financial risk is so enormous, its easier to just b book the trader and suck it up.
Who said anything about 1:100 leverage?

In truth, the brokers that I have spoken to could have been lying for all I know. I remember giving Hugosway a hard time because they told me that they were using Bitfinex exchange and that their spreads were not fixed, but when I called them out on it and told them that Bitfinex has zero spread for the pair that I was looking at, they recanted and said that they apply a fixed spread to cover their fees. So, who knows.

Whether or not a broker is partnering with a CFD/index type exchange or trading real assets is also questionable.

Liquidity is usually provided through the exchange, either funded by outside investors with an insurance fund in place, and/or through trader funds that elect to allocate that in order to earn interest while funds are idle. Typically, exchanges have maker/taker fees in place, too.
Quoting Nsak3y
{quote}-I don't blame you at all. As traders, we should stick together and hold these firms accountable. I will back anyone that is treated wrongfully, but if I think that a trader is making a bogus claim, then I will call them out on it, even if they believe in their heart that firms should pay more than they are obligated to pay.
I was not making any bogus claim. That one-man band E8 made prop firm end paying the full refund it was obliged. If they did not Paypal would force them to.

I see you all day around playing the expert but you never show any trades, do you have any TE to show?
What the hell, where does your expertise come from? Don't you have a real life?

So critic and then licking the arsenal of the E8 firm. Come on, subscribe to their 250K plan, show who you are. It would be a lot of fun become aware that the whole system was built on the base of nobody ever reaching the funded trader status, because simply there are no funds to trade.
Follow your guts, if you want to lose your money...
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Quoting JotaP
Don't you have a real life?
-Define real. Probably not.

I do not claim to be any expert. But if someone says that I am wrong about something, I will ask them why. Maybe I am wrong. If something is said to me that isn't clear, I will ask about it so that I can better understand and learn more.

Or, in your case, you got bent out of shape even though I was trying to help you, initially. I wasn't going to say anything about your mishap with E8 over on their thread until I saw you demanding that they pay you more money than they owed you.

I think E8's offerings are okay. I was not licking anyone's arsenal . Even I criticized E8 for requiring 16%/month for their ELEV8 account and for not having a disclaimer regarding refund fees.
Quoting JotaP
{quote} It would be a lot of fun become aware that the whole system was built on the base of nobody ever reaching the funded trader status, because simply there are no funds to trade.
Lol Come on Man. I think you're being a little too harsh on E8.
So far, it seems the only beef you had with them was that they didn't provide the AUDCAD pair (forgive me if i missed any other major reasons).
i know it's very important to you, but It's just one omitted cross pair... I don't think that is enough to write them off completely.

They seemed to do every other thing well for the two of you who went out on a limb and signed up, You and Boulder that is. Fast communication, exceedingly fast account provisioning and even a reasonably quick refund.
Quoting Nsak3y
Who said anything about 1:100 leverage? In truth, the brokers that I have spoken to could have been lying for all I know. I remember giving Hugosway a hard time because they told me that they were using Bitfinex exchange and that their spreads were not fixed, but when I called them out on it and told them that Bitfinex has zero spread for the pair that I was looking at, they recanted and said that they apply a fixed spread to cover their fees. So, who knows. Whether or not a broker is partnering with a CFD/index type exchange or trading real assets...

FTMO has leverage, whether its 1:2 or 1:2000 no one is hedging leveraged crypto.

Order matching lowers risk but if leveraged shops started hedging on exchanges with crypto the crypto market would boom bust on a daily basis.

Some of them are pulling the orders to pieces and hedging bits of it here and there but most are just eating the flow. Crypto because of leverage + volatility is potentially very profitable if you are careful or it will eat your account in 20 seconds. It is how some FX pairs used to be in the good old days before QE.
I'm really not sure how it all works. A lot of it is over my head, to be honest. Sometimes, brokers will answer certain questions, but not always. I would be curious to know, because if I remember correctly, the leverage that is offered by some brokers is not always the same as what is being offered on the exchange that they claim to be using.
Anybody knows what happen to MFF live chat?Is it dead?
Whether you think you can, or you think you can't,you're right. H.F.
Quoting Nsak3y
until I saw you demanding that they pay you more money than they owed you.
I never called anyone dumb in the ForexFactory Forums.
But with that offensive argument coming over and over again, what shall I call you?
Follow your guts, if you want to lose your money...
Quoting Koop
{quote} Lol Come on Man. I think you're being a little too harsh on E8. So far, it seems the only beef you had with them was that they didn't provide the AUDCAD pair (forgive me if i missed any other major reasons). i know it's very important to you, but It's just one omitted cross pair... I don't think that is enough to write them off completely. They seemed to do every other thing well for the two of you who went out on a limb and signed up, You and Boulder that is. Fast communication, exceedingly fast account provisioning and even a reasonably...
I agree the site is well designed and attractive. Probably, Dylan is a web designer.
I have seen developers of indicators and robots promoting their prop firms, nothing new here.

Dylan is a complete amateur, it does not even state clearly what instruments he makes available to trade.

What guarantee do you have that they have funds to invest when the challenge phases are over? None.

They are betting on the failure rate to make money. If it is not enough, they have some discretionary rules to bend things in their favor and they can always say that everything was there to be tried before subscribing.
Follow your guts, if you want to lose your money...
Quoting JotaP
{quote} I agree the site is well designed and attractive. Probably, Dylan is a web designer.
let me help out: not a web designer, Dylan and his family is in the construction and development business, a long time. a quick look, mostly seem to be high-end homes design, but some restaurant concepts too.

while i don't believe any of these pseudo-prop firms ( mostly white labels of one or another, created for the quick bucks) actually copy any orders to any real markets, by the look Dylan seem to have a somewhat credible background to actually have the funds to do it ( which i don't say he does!)
definitely more chance with the random Youtube influencers teaming up, like Blake, Ment, etc...
there is always, always another trade!!
Quoting profitfarmer
{quote} let me help out: not a web designer, Dylan and his family is in the construction and development business, a long time. a quick look, mostly seem to be high-end homes design, but some restaurant concepts too. while i don't believe any of these pseudo-prop firms ( mostly white labels of one or another, created for the quick bucks) actually copy any orders to any real markets, by the look Dylan seem to have a somewhat credible background to actually have the funds to do it ( which i don't say he does!) definitely more chance with the random...
Construction, whatever. There are court cases against Versalles Dallas, no compliance with terms.
People buy pigs in a poke all the time. Let's talk again about E8 when there is anything new.
Follow your guts, if you want to lose your money...
Quoting Simply-Me
Anybody knows what happen to MFF live chat?Is it dead?
no
A question to anyone kind and knowledgeable enough to explain it to me (following up on my FTMO case):

(a) FTMO's Execution Policy & Trading conditions:

"In the FTMO Challenge, Verification and on the FTMO Account, the execution of orders is modelled after the live market execution model. In other words, orders placed on any FTMO trading platform are not guaranteed to receive a fill at the requested price of the order but will receive a fill based on the current market conditions instead."


(b) FTMO email extract where they accused me of attempting a volume arbitrage:

As you are probably aware, we offer a very good execution model which is the trader's favor, displaying the top-of-the-book quote only and offering it for the whole size of a trader's order.
...
In other words, scalping the huge volume of the asset on our platform, having unrealistic prices for the whole size whereas the LP's Top-of-the-book volumes are vastly different. Fills compared to VWAP (Volume Weighted Average Price) don't have the same/have different execution levels for the volume that is far from being unlimited in the markets. As a result, the benefited from unrealistic profits for the most part by exploiting these subtle differences on our platform compared to real-markets brokers.



My question is - does (b) contradicts the (a) or am I misunderstanding how it all works?
I assume they either send all orders to their liquidity pool for execution - as (a) clearly states - affecting the trader's order by slippage but providing the realistic order fill, or you don't - as (b) suggests - and offer the best price regardless the available liquidity

If (a) is true then no volume arbitrage would even be possible. Am I correct?
Even a broken clock is right twice a day
Quoting JotaP
{quote} Construction, whatever. There are court cases against Versalles Dallas, no compliance with terms. People buy pigs in a poke all the time. Let's talk again about E8 when there is anything new.
due diligence.
something one should do before, less buyer's remorse.
cheers
there is always, always another trade!!
Quoting Vitore
A question to anyone kind and knowledgeable enough to explain it to me (following up on my FTMO case): (a) FTMO's Execution Policy & Trading conditions: "In the FTMO Challenge, Verification and on the FTMO Account, the execution of orders is modelled after the live market execution model. In other words, orders placed on any FTMO trading platform are not guaranteed to receive a fill at the requested price of the order but will receive a fill based on the current market conditions instead." (b) FTMO email extract where they accused me of attempting...
Why are you wasting time here with your case instead of taking directly to their FTMO thread? https://www.forexfactory.com/thread/...erious-traders
Trade with confidence, trade without fear.
I don't see nothing wrong with Vitore's trades. It's not a trader's fault if the conditions on an instrument are not good enough for replication on real market. I just can imagine how slippy can they be, if they are obliged to pay you a big amount of money.
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