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  • #1,521
  • Jun 15, 2021 3:43am Jun 15, 2021 3:43am
Quoting Dao-trades
Anyone hear about Traders Prop just straight up disappearing?
Lol seriously? wow, gotta check that out.
  • #1,522
  • Edited 4:23am Jun 15, 2021 3:50am | Edited 4:23am
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I like the part where Blake says he asked them repeatedly in the interview if they were legitimate and they said "Yes".

No shit Sherlock, i guess if they were really a scam they would have said 'No"
  • #1,523
  • Jun 15, 2021 4:08am Jun 15, 2021 4:08am
Quoting Koop
{image}
There site is down, the link does not work
Those who don't believe in magic will never find it
  • #1,524
  • Jun 15, 2021 4:39am Jun 15, 2021 4:39am
Hopefully it won't start new trend
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,525
  • Jun 15, 2021 4:58am Jun 15, 2021 4:58am
Quoting Koop
{image} I like the part where Blake says he asked them repeatedly in the interview if they were legitimate and they said "Yes". No shit Sherlock, i guess if they were really a scam they would have said 'No"
Its not surprising, there's quite a few new players that came on the scene in the past 6 months. Most of them looked shady from the start.

They easily dupe the degen gamblers with easy terms, objectives and large profit splits. Even tho they have zero chance of getting funded by any firm.

Blake is also a shameless opportunist. He'll hump any service as long as he can get affiliate revenue from it. Him and his minions only perpetuate these scammers.
Trade with confidence, trade without fear.
  • #1,526
  • Jun 15, 2021 5:05am Jun 15, 2021 5:05am
Quoting Cryptosurf
{quote} Its not surprising, there's quite a few new players that came on the scene in the past 6 months. Most of them looked shady from the start. They easily dupe the degen gamblers with easy terms, objectives and large profit splits. Even tho they have zero chance of getting funded by any firm. Blake is also a shameless opportunist. He'll hump any service as long as he can get affiliate revenue from it. Him and his minions only perpetuate these scammers.
Reputation most often trumps the better deal. True in 99% of industries. You have to view these prop firms from a "What's in it for them" perspective. After all, they are in business to make money as well. If the terms appear great for the trader and not for the company, just use a bit of intelligence. The scenarios we are looking for are where it benefits the trader and the prop firm. Those are the ones here for the long haul, a win-win for both trader and company.
  • #1,527
  • Jun 15, 2021 5:38am Jun 15, 2021 5:38am
Quoting Masterrmind
PROP FIRM HUB Real traders discussion about Prop Firm activity. Traders may post their attempts at gaining a funded account. Traders may discuss the pros and cons of various prop trading firms. All discussion that is inline with thread title is welcome. Keep it civil here guys and let's sort the real from the myth. Traders showing TE’s of challenges and verifications should be cheered on and not discouraged. Traders can show or hide their TE’s at their preference without ridicule from other thread participants. Traders who show their TE’s and have...
Hi mastermind,

Maybe you should consider placing a trusted firm designation for the firms we know and trust. It would all be based on feedback from everyone on the thread. Someone can nominate the firm(s) they have had good experience with and then if a certain number (pre-determined by you) agree, that firm gets the designation. Of course, do the same for the bad ones as well.
  • #1,528
  • Jun 15, 2021 5:41am Jun 15, 2021 5:41am
Quoting pipmaster77
{quote} Hi mastermind, Maybe you should consider placing a trusted firm designation for the firms we know and trust. It would all be based on feedback from everyone on the thread. Someone can nominate the firm(s) they have had good experience with and then if a certain number (pre-determined by you) agree, that firm gets the designation. Of course, do the same for the bad ones as well.
Good idea...
  • #1,529
  • Jun 15, 2021 6:04am Jun 15, 2021 6:04am
Looks like proptraders or whatever it was called stole enough money to get their backyard boat fixed and sail away..

Obviously this was going to happen.
  • #1,530
  • Jun 15, 2021 7:14am Jun 15, 2021 7:14am
Hello
Has anyone tried XL trade?
Are they legit?
  • #1,531
  • Edited 8:06am Jun 15, 2021 7:53am | Edited 8:06am
Quoting Mtinifx
{quote} Can't you show us a TE or something? Would be nice to see how you're progressing
I given myself time until this week end.

However, if opportunity knocks the door, then I may finish on Thursday itself.

Of course all only if things go as per plan.
Intraday only.
  • #1,532
  • Jun 15, 2021 8:29am Jun 15, 2021 8:29am
Some good news:

FT is now offering their own ECN server on all models. The spreads seem incredibly good.

If you want to check the spreads (on your phone):

Server: FundingTalent2-Demo
Account No. 2131956026
Investor password: 5kSbAvn
  • #1,533
  • Jun 15, 2021 8:46am Jun 15, 2021 8:46am
Quoting Koop
{image} I like the part where Blake says he asked them repeatedly in the interview if they were legitimate and they said "Yes". No shit Sherlock, i guess if they were really a scam they would have said 'No"

Blake put them on his platform (for a fee and discount code ofc), but had suspicions that they weren't legitimate? He's a joke lol, but I mean as long as he gets his money who cares I guess....

Saying that if people didn't realise they were scammers after looking at their poor website and shoddy interview I don't know what to tell them.
  • #1,534
  • Jun 15, 2021 11:22am Jun 15, 2021 11:22am
Quoting doji
When looked at from an investor's point of view, one begins to see why even more than profitability, risk-management is given great weight --at Darwinex or elsewhere. That's also what I learned from a chat I had with Lux support just a while ago. I asked if there was a chance that they'd change the trailing DD rule for the evaluation levels so that it would be the same fixed DD across the board. Guess what, he told me that management has decided to implement the trailing DD rule for all levels instead! The reason: to discourage gambling. According...
Lux has implemented the trailing drawdown rule for all stages. Crazy! What is the chance of getting to the 'Expert' stage? One out of ten thousands? Even if you get the 'Expert' account, how long can it last before the '4% relative' drawdown rule is broken? Are they really looking for good traders?
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  • #1,535
  • Jun 15, 2021 12:48pm Jun 15, 2021 12:48pm
Quoting doji
According to him, there was one trader who managed to grow his 150k account to 500k and then 700k using big lots with tight stops. Unfortunately, the market gapped and went beyond his SL so he ended up breaching the 4% DD rule. This perhaps explains why most traders don't last long at prop firms where high-flying behavior is rewarded, if not encouraged, in order to pass the Evaluation Challenges.
One case shouldn't make it a rule, sounds like a bad excuse to me.
  • #1,536
  • Jun 15, 2021 12:55pm Jun 15, 2021 12:55pm
Quoting doji
When looked at from an investor's point of view, one begins to see why even more than profitability, risk-management is given great weight --at Darwinex or elsewhere. That's also what I learned from a chat I had with Lux support just a while ago. I asked if there was a chance that they'd change the trailing DD rule for the evaluation levels so that it would be the same fixed DD across the board. Guess what, he told me that management has decided to implement the trailing DD rule for all levels instead! The reason: to discourage gambling. According...
100 lots with a 10 pip stop is the same as 10 lots with a 100 pip stop is the same as 1 lot with a 1000pip stop, etc, etc. The risk isn't determined by lot size alone. One of my systems is weekly pivots, entering multiple small positions within a "zone". Another one is pure price momentum during London and New York, much larger size, real tight stop, in and out. I put the same risk on both systems.
  • #1,537
  • Jun 15, 2021 1:24pm Jun 15, 2021 1:24pm
Quoting pipmaster77
{quote} 100 lots with a 10 pip stop is the same as 10 lots with a 100 pip stop is the same as 1 lot with a 1000pip stop, etc, etc. The risk isn't determined by lot size alone. One of my systems is weekly pivots, entering multiple small positions within a "zone". Another one is pure price momentum during London and New York, much larger size, real tight stop, in and out. I put the same risk on both systems.
partially correct math.

however, a Stop Out tends to have a negative slippage, that is the reality, for simply being hit while the price is moving against the trade...
bcos the way MT4 is working (not sure the others), a SL will sit as a pending order, converted to a market order when the price hits the level, then executed as a market order. it is a few ms delay, only it does very rarely work for the trader's favor.
the real life, especially if trading a minor cross, for example GJ, GA, EN, etc, a 1 pip slippage on a somewhat volatile move totally common....
arguable not that much an issue on 1 lot with 1000 pips SL, having an actual -1001 pip finish,
and a somewhat more serious issue with 100 lot ending not -10, but -11 pips SL.

of course, not in demo trading stage/s. but on an actual larger live acct this is how it works out as I described above.
so 10$ worth vs 1000$ that 1 pip represents makes a rather serious difference, although the intended SL value was exactly the same in your scenarios.
there is always, always another trade!!
  • #1,538
  • Jun 15, 2021 2:07pm Jun 15, 2021 2:07pm
Quoting pipmaster77
{quote} Hi mastermind, Maybe you should consider placing a trusted firm designation for the firms we know and trust. It would all be based on feedback from everyone on the thread. Someone can nominate the firm(s) they have had good experience with and then if a certain number (pre-determined by you) agree, that firm gets the designation. Of course, do the same for the bad ones as well.
Not a bad idea.

However, I do wish to provide an unbiased listing of Retail Prop Firms in Post 1.

Another issue is these Prop Firm's can go under or disappear at any time.

Perhaps the best approach is to always consider the entry fee as a potential risk of total loss.

Masterrmind .........
Master your Mind then Master your Trades
  • #1,539
  • Jun 15, 2021 2:30pm Jun 15, 2021 2:30pm
Quoting profitfarmer
{quote} partially correct math. however, a Stop Out tends to have a negative slippage, that is the reality, for simply being hit while the price is moving against the trade... bcos the way MT4 is working (not sure the others), a SL will sit as a pending order, converted to a market order when the price hits the level, then executed as a market order. it is a few ms delay, only it does very rarely work for the trader's favor. the real life, especially if trading a minor cross, for example GJ, GA, EN, etc, a 1 pip slippage on a somewhat volatile...
Yes, I understand with larger sizes, greater risk of slippage. My pivot trades with a bunch of small entries I can hold right through rollover with no worries, I can sleep with no worries. My larger, intraday positions, I am glued to the screen. I was just debunking the reason they claim to have changed the DD rules.
  • #1,540
  • Jun 15, 2021 2:41pm Jun 15, 2021 2:41pm
Quoting Masterrmind
{quote} Not a bad idea. However, I do wish to provide an unbiased listing of Retail Prop Firms in Post 1. Another issue is these Prop Firm's can go under or disappear at any time. Perhaps the best approach is to always consider the entry fee as a potential risk of total loss. Masterrmind .........
Yes, but we all know there are 3-4 on that list that are established, pay out and aren't going anywhere. I think if we designated those brokers, it may save a lot of people from getting burned by the others. The fact that one just disappeared overnight (which most of us knew that one would) got me thinking of ways to prevent people from getting burned.
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