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prop firm new model - my trading journey 869 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

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Quoting navk
{quote} And this iexposure indicator as well as All close EA / Risk management EA does not fit in. what should i do ? {image}
It's hard to know without seeing the settings or having the indicator/ea installed. Sorry.
"Pride always comes before destruction...." -Proverbs 16:18
Quoting navk
There is a secret. Trade gbpusd in / at London open. Look for pound news. Calculate risk/reward and open trades
None of this is a "secret". Rarely is there any news for GBP at that point of the day.
Quoting lddd
{quote} None of this is a "secret". Rarely is there any news for GBP at that point of the day.
one day id enough or few days enough
Intraday only.
Quoting navk
{quote} one day id enough or few days enough
Okay. Well, I don't trade the news and as far I know most of these prop trading firms mentioned here are designed to avoid just that. I only know there are many different types of news affecting the forex market. All with different impact in theory. Sometimes you will notice that a news event flagged as such higher impact news will lead to price getting more volatile around that time, then sometimes price won't move at all. Sometimes there is not even any news scheduled on any of the calendar pages you will find and all of a sudden price makes a big leap because some fool made a tweet.

But if you don't mind, maybe you could post a chart with a concrete trade example that you're talking about. Or even better, post what this "secret" has done for you over having executed it for say the last 2 years showing results for that time period.

Anyways. At the current time there are especially many uncertainties in the world and price moves accordingly unpredictable. Trade carefully.

Btw, your signature is saying "Intra day". It's one word. "Intraday".

regards.
Quoting navk
hi guys, I wanted to start e8 phase 2 trading today. I tried to place a trade in gbpusd. The trade box..there seems to be an issue. Why this is coming like this ? I could not place a trade. {image}
That's strange. I also started phase 2 today and everything looks normal. But I only trade DAX and DOW.
Quoting Olarion1975
{quote} That's strange. I also started phase 2 today and everything looks normal. But I only trade DAX and DOW.
it is set now.

EXPO advised.

Chose pair with suffix e8 for which their server is connected.

GBPUSD e8
Intraday only.
Anyone trading with blufx prop firm? they have the instant funding model...
'Here are the Top 15 cryptocurrencies, by market cap, back to 2013. The chart reads chronologically, right to left. LUNA and UST go poof while DOGE and BUSD gain the most in the rankings.'
Be careful with cryptos as most do disappear after some time, it is more like a Pump and Dump scheme. Only BTC and ETH are surviving right. All others are risky.

Top 15 cryptocurrencies, by market cap (2013 to now).

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'The takeaway on altcoins continues to be this: Every altcoin, regardless of its true promise, has an amazing hype, narrative, and origin story when it’s running higher. Every coin has a marketing department, religious adherents, and a cool story. But very few remain relevant once the primary hype cycle wanes. Bitcoin, Ripple, Doge, and Litecoin are the only cryptocurrencies that were in the top 15 by market cap in both 2015 and now. Coins cycle in and out. That’s why all the altcoin charts look like mountains. Altcoins are lotto tickets that only pay off if you take profit before they collapse.'
Quoting Lexics
Anyone trading with blufx prop firm? they have the instant funding model...
Two big no-nos:1. relative drawdown (trailing stop) 2. monthly subscription fee

Both are unacceptable in this thread.
I am calling it a day.

First day of Phase 2 with E8 funding

Happy with this.
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Intraday only.
Not in hurry to finish phase 2 as I have 2 more funded account with MFF.
Intraday only.
Quoting Lexics
Anyone trading with blufx prop firm? they have the instant funding model...
My comments here are more or less actual. They created new intervals and some rebranding but it's essentially the same thing:
https://www.forexfactory.com/thread/...8#post13801448

And on the 1M mark they say you don't pay monthly fee but they don't mention that they deduct a monthly fee for the infrastructure (which is a way of keep charging money).
Quoting Nsak3y
Hearing mixed opinions regarding E8. Some are saying bad spreads/commissions, and others are saying good. Curious about this. Especially curious about how things are for Nasdaq, if anyone is willing to share. Thanks.
As promised, E8 index spreads right now (9.45 am New York, 15 minutes after session opening).
What's your opinion about them ?
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Quoting Capablanca
{quote} As promised, E8 index spreads right now (9.45 am New York, 15 minutes after session opening). What's your opinion about them ? {image}

They must have heard all the people moaning about their spreads on Indices and Gold! Looks like they've bucked up their ideas
Quoting Olarion1975
Short Update on FinoTrader: I initiated a CC chargeback and got my fees back. They are 100% scam, please be aware. I have not lost hope that some prop firms are indeed legit and I'm just trying E8 funding, until now everything is great. They have good spreads and a nice dashboard. Also they are very quick with providing the credentials. 30 Minutes ago I bought their 250k account and just passed phase 1. I took higher risk than usual, but I will be reducing my position size for passing phase 2. {image}
UPDATE 25.05.22: Phase 2 going well, +1,11 % profit banked today only scalping the DAX and DOW .
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Quoting Capablanca
As promised, E8 index spreads right now (9.45 am New York, 15 minutes after session opening). What's your opinion about them ?
-Thanks a lot. I appreciate it. Will need to inquire about their contract sizes and round-turn commissions. Someone claimed nearly $10 a few pages back. I will contact their support and ask.

EDIT: Support states that round-turn commission for NASDAQ is around 1-2 USD. Smallest position size is 0.01.

That being said, looks like a good option to me. Would be curious about liquidity/slippage. Hopefully someone that trades with E8 can chime in.
Quoting Nsak3y
{quote}-Thanks a lot. I appreciate it. Will need to inquire about their contract sizes and round-turn commissions. Someone claimed nearly $10 a few pages back. I will contact their support and ask. EDIT: Support states that round-turn commission for NASDAQ is around 1-2 USD. Smallest position size is 0.01. That being said, looks like a good option to me. Would be curious about liquidity/slippage. Hopefully someone that trades with E8 can chime in.
Yep, you will need someone trading indexes to get those answers. On that I can't help.
I can only speak for forex. As mentioned a couple of posts ago, commissions in forex are 0.005% of USD lot value so 100.000 USD, for example, is 5.30 USD total commission (neither bad, nor fantastic). For slippage I can't say much. Nothing felt so far but I'm still in challenge phase.
Quoting Capablanca
{quote} My comments here are more or less actual. They created new intervals and some rebranding but it's essentially the same thing: https://www.forexfactory.com/thread/...8#post13801448 And on the 1M mark they say you don't pay monthly fee but they don't mention that they deduct a monthly fee for the infrastructure (which is a way of keep charging money).
And profit split is 50/50, terrible i haven't seen this anywhere else.
aprreciate the reply
I had already alerted for this in some past posts but just wanted to let you know know that I initiate a charge back against The Trading Capital.

They're definitely a scam, not responding to emails for more than a month now and the chat in the site is just a mockup, not working. You can check in Trust Pilot the most recent reviews, mainly from verified users. Exactly the same experience than mine.
Quoting Nsak3y
{quote}-Thanks a lot. I appreciate it. Will need to inquire about their contract sizes and round-turn commissions. Someone claimed nearly $10 a few pages back. I will contact their support and ask. EDIT: Support states that round-turn commission for NASDAQ is around 1-2 USD. Smallest position size is 0.01. That being said, looks like a good option to me. Would be curious about liquidity/slippage. Hopefully someone that trades with E8 can chime in.
Open a 1 lot trade on Gold and you're $25 - $27 down before you start
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