I prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.
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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
DislikedI prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.Ignored
Disliked100 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.Ignored
Dislikedpartially 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...Ignored
QuoteDislikedthe 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
QuoteDislikedwas exactly the same in your scenarios.
QuoteDislikedbcos 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.
Disliked{quote} 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? {image}Ignored
Disliked{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...Ignored
Disliked{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...Ignored
Disliked{quote} 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.Ignored
DislikedI prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.Ignored
Disliked{quote} lazy to search back, but looks like the same funny Nigerian prop (the past posted on this thread) just with a reworked website, ver 2.0 the "CEO" name is a familiar one. funny they have payment proofs, but the website so fresh literally nothing but the landing page is readyIgnored
Disliked{quote} Lol Nah not the Nigerian one. This one claims to be in the UK but their contact phone number shows a Ghana Country Code. I read that they operate primarily on Telegram, if one could believe such a thing.Ignored
Disliked{quote} the mind boggles (to be astonished or baffled when trying to imagine something) {image}Ignored
DislikedMine, in no particular order... FTMO- have passed 2 challenges, have 200K in funding and can confirm they pay MFF- currently waiting for stage 2 credentials, great experience so far. Have talked with folks on the "inside". They improve every day and I am 99% certain they are looking long term 5%ers- this one will shock most coming from me. I cannot stand their standard model, but they probably have the best reputation of all. Looks like they've jumped through all the legal loopholes. I LOVE THE NEW MODEL, free eval, pay once you pass....$300 for...Ignored
Disliked{quote} No, I don't like to have the same trades in any more than 2 accounts at once. Variety of reasons....different restrictions, loss limits on the props, different systems fit better with each firm, etc. Right now, I have FTMO, personal account, then evals with MFF and 5%ers.Ignored
Disliked{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...Ignored