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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 sampat
{quote} You can't kill a fly with atom bomb. It is part and parcel of the prop firm game. If it was possible Jessica from Funding talent would be behind jail but she started new scam
Jiggling Jessica? That's my girl. Where do I sign up?
"Pride always comes before destruction...." -Proverbs 16:18
Quoting sampat
{quote} Lets give benefit of doubt to TPT but who is stopping them to clearly write rules like MyFF and FTMO? Why to put such conditions after getting profits. Even if trader was gambling dont you think prop firms also tend to advertise as casino no lot limits etc etc. TPT also know if they put such conditions all gamblers run away and they loose signups thats why they don't put such conditions on paper. Only work around with such firms is once you get 5-10% stop trading and wait for withdrawal so they don't bother with such rules.
Rest assured every single prop have half a dozen of these rules hidden. Even MFF and FTMO. If they decide they don't want to pay you, they'll make some shit up not to pay you. This is an unregulated market dealing with toy "money".
Your suggestion to fly below the radar was mentioned in this thread several times. If people would read the entire thread carefully before diving into prop trading they'd understand what best practices are. Still sucks if this happens to you but if you have several operational funded accounts paying you then if one craps out is not going to push you into a social media rampage. Not to mention that with your suggestion, as it implies several accounts with different props, if you only trade one at a time when something adverse happens you only blow one of your accounts. I think this should be painfully obvious to everyone before they open a prop account.
Quoting Capablanca
{quote} I pointed out in my post that could be an old account BUT the guy gave examples of what he considers excessive (listen at 9:40). So, he doesn't deny that there is some concept of "excessive leverage", which is unwritten. This is even worse because they announced, loud and proud, that they were removing the size limitation. Now we know that there's no limit, unless they find excessive. Why don't they state a cap like 20, 30 or 50 lots limit, if they think that anything above is "excessive" ? This is shady behavior.
I haven't watched the video because any social media site that requires me to log in to view a video can fuck right off.
But does that video include any response from TPT? Or is it just claims on one side and nothing on the other? IOW is it a balanced and fair review?
Quoting Expo33
{quote} Jiggling Jessica? That's my girl. Where do I sign up?
https://www.tradezie.com/
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Quoting sampat
{quote} https://www.tradezie.com/ {image}
Wow, a landing page asking for your email. Who could resist?
"Pride always comes before destruction...." -Proverbs 16:18
Quoting muir
{quote} Rest assured every single prop have half a dozen of these rules hidden. Even MFF and FTMO. If they decide they don't want to pay you, they'll make some shit up not to pay you. This is an unregulated market dealing with toy "money". Your suggestion to fly below the radar was mentioned in this thread several times. If people would read the entire thread carefully before diving into prop trading they'd understand what best practices are. Still sucks if this happens to you but if you have several operational funded accounts paying you then if...
Exactly.
1. It is the entire point of getting max funding at several firms. You will never be out of business....if one goes bust put another in the rotation. Sure, you've lost time (another valuable asset), but it is a temporary setback and you still have cash flow.
2. Part B of the entire point of getting max funding, make $300, 400K, even upwards of 600-700K with very little risk. One of my firms bi-weekly pay cycle ending tomorrow my max daily loss was 0.7% and my max overall lowpoint was 1.1%. I am not even within 10% of either max loss. Now granted, I only made 1.5%, but it was completely stress free. Not to mention what is 1.5% of 2.5 million.....30K with most firms at 90% now...27K biweekly......it's over 700K per year.
I am not even half way there yet, BUT I will never, ever again blow a live account. You really do not need to be a super trader.......just have an edge and once funded.....reduce, reduce, reduce risk...you will still earn great money
Quoting muir
Still, best business practice is to hear from both sides before crying wolf.
-Agreed. Unfortunately, when trying to do so, I was banned from their discord within 30-seconds after asking if the rule even existed.

And then there is this (no denial of said rule):

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Quoting forexbali
There is something similar but that I can set up in a way than when I buy he continue alone to buy every xx pips the fixed lot I need, or a lite martingale like 0.01 0.02 0.03 max. I remember yes, which is the best? (MT5) Something like this would be super, but for MT5 https://www.mql5.com/en/market/produ...er#description
-I am not really sure what you are asking about here. I do not use EA's for automated trading; only for risk management. Much of the stuff that you ask about in this thread can be found with a little bit of effort on your part.
Anyone heard of https://thorfx.com/funded-account/

saw them listed 2nd on forexpropreviews. Overall drawdown of 15% with 10% target step 1, and 8% step 2.
Plan your trade, trade your plan
Quoting pipmaster77
{quote} Exactly. 1. It is the entire point of getting max funding at several firms. You will never be out of business....if one goes bust put another in the rotation. Sure, you've lost time (another valuable asset), but it is a temporary setback and you still have cash flow. 2. Part B of the entire point of getting max funding, make $300, 400K, even upwards of 600-700K with very little risk. One of my firms bi-weekly pay cycle ending tomorrow my max daily loss was 0.7% and my max overall lowpoint was 1.1%. I am not even within 10% of either max...
Ditto. Typically one should trade as Max drawdown as max available equity for example if one has 100K account and 10K is allowed drawdown one should trade it as 10K account with stop loss based on 10K account not 100K so 2% will be 200 NOT 2000
If some one does that it is unlikely to get payment denied but for most of people it is too boring and doesn't gets kick
Quoting Nsak3y
{quote}-Agreed. Unfortunately, when trying to do so, I was banned from their discord within 30-seconds after asking if the rule even existed. And then there is this (no denial of said rule): {image}
Exactly, many others were banned also for simply asking the question on why the deny payouts based on rules not existing in agreement.

They also banned me from instagram, and they also banned me from sending mails like this shit is hilarious

First they deny my payout

Then they try to silence me

And now they even banned me from sending mails

Holy shit what a crooked company. Anyone that wants to take their challenge I really feel for u.

They will deny your payous based on crappy reasons.

I think there should be a boycott of this company, and people should swarm their socials demanding an answer.

I have looked in their 1 star reviews on TrustPilot, seems to be many others they have screwed over in big payouts.

I advise anyone who is still not convinced that this company is deceptive and crooked to read this review on TrustPilot (See attachement)

They denied the traders payout (just like me) based on arbitrary reasons not existing in the contract!
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Quoting sampat
{quote} Ditto. Typically one should trade as Max drawdown as max available equity for example if one has 100K account and 10K is allowed drawdown one should trade it as 10K account with stop loss based on 10K account not 100K so 2% will be 200 NOT 2000 If some one does that it is unlikely to get payment denied but for most of people it is too boring and doesn't gets kick
Exactly. So over the two week period of the one account I mentioned above....max daily was 7%, overall was 11% and profit was 15% OF MAX AVAILABLE LOSS. Not sure why people cannot grasp this.
The entire point here is you can trade 1:1 risk reward (10% target with 10% DD) and have a 33% winning %(if it takes you 3 attempts to pass) and you turn $1500 investment into a 10K trading account. Of course, I am using the 100K average price challenge here. You then get one of the fees back, so you paid 1K for 10K account by hitting 33% on 1:1 RR. Actually most firms are now 0.8:1 RR. Do the 200K's and simply rinse and repeat until you have max funding at several firms. Then treat your 2.5 million dollar account as a 250K account and risk accordingly.
Quoting muir
{quote} Rest assured every single prop have half a dozen of these rules hidden. Even MFF and FTMO. If they decide they don't want to pay you, they'll make some shit up not to pay you. This is an unregulated market dealing with toy "money". Your suggestion to fly below the radar was mentioned in this thread several times. If people would read the entire thread carefully before diving into prop trading they'd understand what best practices are. Still sucks if this happens to you but if you have several operational funded accounts paying you then if...
Oh, I know that all have generic rules that allow them to bann traders or to refuse a payment (I'm one of those picky that read all the Traders Agreement - that's how I found, and alerted here, that Finotive Funding would limit 25% if we blown 1 account while in the site they were stating 3 accounts - now they corrected and it's 1 in both site and agreement).

BUT, one thing is having a generic rule and another is really enforcing it the way they want, as they pleased. We have no news from the other big props refusing a payment because you have 2 accounts with +5K and -6K. And they could, using some generic rule.

Quoting muir
{quote} I haven't watched the video because any social media site that requires me to log in to view a video can fuck right off. But does that video include any response from TPT? Or is it just claims on one side and nothing on the other? IOW is it a balanced and fair review?
I thought you have watched the video. The video is not someone blaming or saying that TPT said.
The video is done by TPT, by an employee of TPT, with live Q&A.

Someone said in Q&As that he did not violated any rule and that TPT denied a payment based on risk exposure (this was the expression).
And he - the TPT employee - replied generic that risk management team has analyzed some accounts that took too much risk and gave example of people taking too much lots of an instruments, traded a lot during news, etc.
So it's the TPT employee, live, verbally, no doubts, saying that internally they evaluate if someone used too much leverage/risk.

And you can see the post from Nsak3y. They replied in Trust Pilot and did not denied that this is done.

So there's payouts being refused based in their sole interpretation of generic rules.

And they say there is no lot size limitations but there is. How much ? We don't know. It's what they consider "too much".
Quoting symmtrytradr
Anyone heard of https://thorfx.com/funded-account/ saw them listed 2nd on forexpropreviews. Overall drawdown of 15% with 10% target step 1, and 8% step 2.
Never heard of them until now.

The 15% drawdown is the bait but in my opinion, if you need 15% drawdown then you're not likely to pass anyways. So you're left with trying to make 10% and then 8% which is not very appealing in comparison to pretty much every other prop firm.
"Pride always comes before destruction...." -Proverbs 16:18
Quoting Expo33
{quote} Never heard of them until now. The 15% drawdown is the bait but in my opinion, if you need 15% drawdown then you're not likely to pass anyways. So you're left with trying to make 10% and then 8% which is not very appealing in comparison to pretty much every other prop firm.


Yes, and they have risk reviews, crypto payment only, and consistency rules that are not clearly defined
Plan your trade, trade your plan
I have a rule, if the website makes me feel like I want to smash my monitor, I don't use that firm.
I truly cannot even wrap my head around the number of firms popping up on a daily basis now. 90% will not even survive 3-6 months.
E8funding

I tested their site and it is not possible to make a free trial or purchase MT5, only MT4

do they offer MT5?

Also, do they accept that your copy your own trading from another your account at other prop firm? not sure for how they write faqs.
Quoting pipmaster77
I truly cannot even wrap my head around the number of firms popping up on a daily basis now. 90% will not even survive 3-6 months.
Maybe, or perhaps you have seriously underestimated the average intelligence of the general public

Don't believe everything that you THINK
Quoting forexbali
E8funding I tested their site and it is not possible to make a free trial or purchase MT5, only MT4 do they offer MT5? Also, do they accept that your copy your own trading from another your account at other prop firm? not sure for how they write faqs.
If you can read this thread, you can read this review or watch the 5 videos there

https://forexpropreviews.com/Proprie...rm/e8-funding/

And I found this over there, would you believe it?

https://www.forexfactory.com/thread/...trades-we-take

And here is a picture to get you started

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Don't believe everything that you THINK
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