Anyone have any other recommendations for Prop Firms, where I don't have to put up with gaping wide spreads, wide like a crack whores fanny over 'the witching hour', and that allows for basic trade management?
(not the US futures prop firms...all/most of them are totally set up for trader failure)
I can trade profitably, but don't have the capital to do so to make enough to make a living out of it (and build up a shit ton of cash on top of that tbh).
To this end, I have started an FTMO evaluation. Progress so far is ok. On track to passing the evaluation.
BUT, I can't say that I am impressed with the trading conditions FTMO is offering.
Here are some spreads in between the NY close and Asian Open:
GBPUSD - 12 pips
AUDUSD - 10 pips
EURAUD - 27 pips
CADJPY - 16 pips
Insane. If that was my broker pulling that shit, I would open an account somewhere else. I shudder to think what the spread spikes might be like on some of the lesser traded pairs (which make em untradeable full stop imo).
Then just now, sitting in a profitable long in the GBPUSD, I tried to close out 50% of my position, to lock in some profits, but with a view to re-entering on the retrace as price ran into a potential shorting zone. I am trading with CTrader, which has excellent trade management options, which I am well accustomed to using.
To cut a long story short, FTMO's platform does not allow for these trade management options, and my attempts to use them, resulted in 100% of my position being closed out (against my will), and a short position for 50% of my position being opened (against my will)......and there was no retrace, market ran right to target.
Not impressed with FTMO. Wondering what other good alternatives are out there?
(not the US futures prop firms...all/most of them are totally set up for trader failure)
I can trade profitably, but don't have the capital to do so to make enough to make a living out of it (and build up a shit ton of cash on top of that tbh).
To this end, I have started an FTMO evaluation. Progress so far is ok. On track to passing the evaluation.
BUT, I can't say that I am impressed with the trading conditions FTMO is offering.
Here are some spreads in between the NY close and Asian Open:
GBPUSD - 12 pips
AUDUSD - 10 pips
EURAUD - 27 pips
CADJPY - 16 pips
Insane. If that was my broker pulling that shit, I would open an account somewhere else. I shudder to think what the spread spikes might be like on some of the lesser traded pairs (which make em untradeable full stop imo).
Then just now, sitting in a profitable long in the GBPUSD, I tried to close out 50% of my position, to lock in some profits, but with a view to re-entering on the retrace as price ran into a potential shorting zone. I am trading with CTrader, which has excellent trade management options, which I am well accustomed to using.
To cut a long story short, FTMO's platform does not allow for these trade management options, and my attempts to use them, resulted in 100% of my position being closed out (against my will), and a short position for 50% of my position being opened (against my will)......and there was no retrace, market ran right to target.
Not impressed with FTMO. Wondering what other good alternatives are out there?