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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

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Quoting maflip
{quote} Oh Gawd! I was seriously thinking of signing up with MFF again. But after reading MFF thread here in FF. I see they still have long delayed payout issues. With FTMO, it's flawless and smooth with payout also quick. Sorry for the MFF rant. I'm just trying to find an FTMO alternative better to have two prop than 1.
Give some discount to that. Myself and Fagin had payouts issues because we had old account migrated from the old system to the new dashboard.

Long story short, I could have in the old system the payout date as 1st and 15th.
Then I was migrated to the new dashboard on 5th so the system assumes 20th and 5th as the payout dates.
If I ask payout on 20th and 5th they will tell me it's not the right payout date.
And then on 1st and 15th the system doesn't know that's a payout date (because that was in the old system).
I have to request that manually, this takes a lot of time and frustration and customer service is basically a bunch of unprepared agents.

If you enroll now you will be in the new system from the beginning so I guess everything will be smooth.
Quoting Capablanca
{quote} Give some discount to that. Myself and Fagin had payouts issues because we had old account migrated from the old system to the new dashboard. Long story short, I could have in the old system the payout date as 1st and 15th. Then I was migrated to the new dashboard on 5th so the system assumes 20th and 5th as the payout dates. If I ask payout on 20th and 5th they will tell me it's not the right payout date. And then on 1st and 15th the system doesn't know that's a payout date (because that was in the old system). I have to request that manually,...
Thanks for the info!
Be like water go with the flow
Quoting maflip
{quote} Thanks for the info!
Hi bro

I see you put up a new self-portrait picture. I didn't realise you were so beautiful!
Quoting Masterrmind
{quote} I find that using any automated system it always has to be the situation where the human supervises the machine (Expert Advisor). Look at the HFT firms they have a team of maths and science professionals supervising operations. Masterrmind ..........
Sorry didn't reply before to your comment - yes absolutely true.

Yes I don't know of any true "set and forget" EA. But I do think it's the way to go. Not just to become profitable in the long term but essential to control one's own emotions which as I said, will always catch one out! I truly think think that it's impossible to manually trade or "day trade" and not allow those human emotions to take control. Even those who have tried to be totally mechanical in trading behaviour have eventually given in to the urge to get back at the market after a string of losses. It's a natural reaction. Maybe 2% can but 98% can't!

The difference is that a bot doesn't possess emotions.

I have three EA's which I've been testing. One works on TMA line break, another one works with the CCI indi and the last one works with moving averages.
All of them require setting up in the correct market conditions and probably work better with normal fx pairs (not highly volatile indices, etc.). The results so far are that I'm profitable when I use them and unprofitable when I don't!
Quoting Mtinifx
{quote} Hi bro I see you put up a new self-portrait picture. I didn't realise you were so beautiful!
Be like water go with the flow
I must admin that yesterday I must have had hit my head or something as all I did was stupid...
I signed up for 3rd account which at this point is just not doable for my trading style. I'm beginning to think that even 2 might be too tight. Hopefully I'll make it work

TFF - after 2.3K loss yesterday I come back today more focused and passed the 1st stage already. Forgot that the target is 8% not 10%, could have saved some stress for myself...
So far I have no complains with them. Spread is ok for US.500 Cash, FTMO has better market fills but it's still within reason.
Hopefully the account review will be fast and I can start with the 2nd phase soon

TFT on the other hand is thrash for futures CFDs IMO. I can open only around 20 contracts for SPX500.b and the commission I pay for that is 100 USD!
FTMO or TFF have commission 8.24 USD for the equivalent... And on both I can open maximum around 50 contracts so I can scale in if the trend goes my way
The market order which I uses sometimes has pretty bad fills as well

Also congrats for the payout TrAndy1 and others as well. May the profits come your way and keep the DD away
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Today I could not trade on my funded account on TFF, no credentials so far. So you really cannot trade on the payout date, you loose 1 out of 10 days cycle, that is a bit much. I trade cautiously without leverage on my small funded account with TFF, this is the payout I got without the challenge fee refund, which I already recieved today.

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But I traded on my challenge Phase 1 on FTMO, and passed it today with winnings trades only. It was a good day. Pity that I could not trade on this NFP day on my funded account on TFF. Here is the profit list from my trades today. I opened a new 200k challenge with TFF today which I traded since from the afternoon, see here.
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Quoting TrAndy1
Today I could not trade on my funded account on TFF, no credentials so far. So you really cannot trade on the payout date, you loose 1 out of 10 days cycle, that is a bit much. I trade cautiously without leverage on my small funded account with TFF, this is the payout I got without the challenge fee refund, which I already recieved today. {image} But I traded on my challenge Phase 1 on FTMO, and passed it today with winnings trades only. It was a good day. Pity that I could not trade on this NFP day on my funded account on TFF. Here is the profit...
Congratulations for the payout mate !

Payout process is the negative point of TFF IMO.
I hope you get credentials during weekend but would not be surprised if that only happens on Monday (European) morning. They are based in Hungary, if I recall correctly.
Btw, they started a thread here but then never followed up, which is a pity. I made that point of payout long time ago in their thread but never had an answer.
https://www.forexfactory.com/thread/...3#post13930523
Anyone understand what this guy complaining about.
I can't understand.

https://m.youtube.com/watch?v=QONoxFC6_Ig
Anyone understand what this guy complaining about.
I can't understand.

https://m.youtube.com/watch?v=QONoxFC6_Ig
Quoting jinsen
Anyone understand what this guy complaining about. I can't understand. https://m.youtube.com/watch?v=QONoxFC6_Ig
So he has a channel reviewing “scams” on YouTube and has been “scammed” so many times he now has 29 videos….?

The line” I don t know where these no people are, help me find them, they could be my neighbours.. ”

Honestly, I wonder how some people navigate through life.
Quoting Fagin
{quote} So he has a channel reviewing “scams” on YouTube and has been “scammed” so many times he now has 29 videos….? The line” I don t know where these no people are, help me find them, they could be my neighbours.. ” Honestly, I wonder how some people navigate through life.
Playing with fires.. if unlucky. Could be sue
Quoting Fagin
{quote} So he has a channel reviewing “scams” on YouTube and has been “scammed” so many times he now has 29 videos….? The line” I don t know where these no people are, help me find them, they could be my neighbours.. ” Honestly, I wonder how some people navigate through life.
It's like the sites that label EVERY offshore, unregulated broker as a scam. They have no clue, that these unregulated brokers offer far superior conditions than the regulated ones( at least the ones in the States). Sure 98% of them are probably scams, but I've used 7 of them, including 2 for 6+ years. I agree, it is amazing how some folks even get through a day, let alone a lifetime.
Quoting jinsen
{quote} Playing with fires.. if unlucky. Could be sue
Just more crap floating about in the sea of trading failures.
Quoting Fagin
{quote} Just more crap floating about in the sea of trading failures.
Exactly. It is amazing how I can use offshore brokers for so long with no issues. Now I use prop firms for just about 2 years.....guess what?? no issues. I haven't been ripped off, scammed, tricked, etc. If people would just do their due diligence, read and understand the rules, it's amazing what one can accomplish.
Even though I think the 5%ers direct funding is a complete rip -off and I actually joined with them last year, they fully disclose everything, it was completely MY FAULT for being tricked by their numbers.
Quoting pipmaster77
{quote} Exactly. It is amazing how I can use offshore brokers for so long with no issues. Now I use prop firms for just about 2 years.....guess what?? no issues. I haven't been ripped off, scammed, tricked, etc. If people would just do their due diligence, read and understand the rules, it's amazing what one can accomplish. Even though I think the 5%ers direct funding is a complete rip -off and I actually joined with them last year, they fully disclose everything, it was completely MY FAULT for being tricked by their numbers.
It’s the usual case of poor workman blames his tools.

A mentor once told me never give up and when you can make money, don’t worry because the money will find you…

but nearly everyone gives up and then start blaming scams, brokers, blah blah blah… and then they start selling courses, launch YouTube videos and become the scams themselves. Negative energy.
Quoting jinsen
Anyone understand what this guy complaining about. I can't understand. https://m.youtube.com/watch?v=QONoxFC6_Ig
Just watched the whole video of this .

No where do I see any evidence of him being scammed.

Just a bunch of losing trades.

It really looks to me like he is bitter about losing his whole savings on trading.

I think he forgot Rule 1.

Never trade with more money than what you can afford to lose without it affecting your lifestyle.

Clearly this guy went well over his comfort zone.

As for Ditto.Trade ofcourse the whois information shows a recent start time and that's because it is a recent business venture openly stated by the Ditto Team.

Ditto Discord has a few examples of where traders have met with errors in trading which were corrected and in a very timely manner I might add and all this was posted out in the public.

Anyone should know that when you get MT5 from Metaquotes on the brokers side it comes as an empty shell meaning that multiple parameters need to be inputted. Sometimes these parameters are input incorrectly by human error and therefore once detected they need to be corrected by the responsible person in the back-office asap to avoid ongoing issues.

It's probably fair to call these issues teething problems.

A simple ASIC search will soon show that Ditto is an Authorised Corporate Representative of Gleneagle Securities which holds AFSL 226199.

I see no issues with Ditto Trade at this stage and certainly nothing of the sorts this guy is whinging about via his YouTube video !

In any case, traders should always perform their own due diligence and understand that any money invested could ultimately be at risk of loss.

Meaning you probably shouldn't be betting the farm on it !

Good trading,

Masterrmind .............
Master your Mind then Master your Trades
Hi, can someone point me reliable firms where the challenge lasts more than a month?, something like 5ers?

Thanks
Quoting Masterrmind
{quote} Just watched the whole video of this . No where do I see any evidence of him being scammed. Just a bunch of losing trades. It really looks to me like he is bitter about losing his whole savings on trading. I think he forgot Rule 1. Never trade with more money than what you can afford to lose without it affecting your lifestyle. Clearly this guy went well over his comfort zone. As for Ditto.Trade ofcourse the whois information shows a recent start time and that's because it is a recent business venture openly stated by the Ditto...

Hi MM

That second 100k TE - is it a challenge you're doing?
Another 2 to 3 days I need.
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Intraday only.
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