This is more about getting in the fees, what I understand.
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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
Disliked{quote} Actually, they pay from a combination of revenue streams.......fees from failed challenges, volume from the LPs which they execute through and if they are a-booking MY trades, then yes profit from traders as well. As far as the folks who have an issue that these firms profit from failed challenges. It really is no different than depositing money with a b-book broker (90% of them, 100% if you're in the USA) and losing your money. Actually, these folks lose WAAAAAAAAAAAAY more than a failed challenge fee.Ignored
Disliked{quote} Are you speaking of FT specifically? If so, I agree 100%. If you're speaking on the entire industry, that's a pretty bold statement without knowing the inner workings of each company. FTMO, MFF and the 5%ers are definitely executing trades in the market.Ignored
Disliked{quote} I really dont understand how FTMO, MFF is different from FT? Just because other firms says they are executing trades from profitable traders how one knows they execute? Does it make sense to put trades live when 90% of people fails and 90% of remaining traders loose money in first months? The only thing traders needs to worry about payment received or not. Plus long term successful traders dont need to worry as their profit monthly will not be crazy like 200K so they usually gets paid.Ignored
Disliked{quote} Uninformed understanding. I saw your initial post before it was deleted/edited. Sure, it'd be cool to get a job and save up 10k or less (as you said), but i don't know how you would survive off the income generated.. Also, you have your whole savings at risk.. Not too smart. It's absolutely the worse idea compared to taking $600 of that 10k savings and attempting a $100k prop challenge once you have established your trading prowess on your own personal account. Both accounts would have 10k to lose before death.....but only one limits your...Ignored
Disliked{quote} FT have admitted they dont. FTMO and MFF appear to have some brains and realize you can make more from the order flow if you manage it properly than just b booking for 500$ when your downside risk is infinite. Either way, get paid enjoy prop, I was "ok" with FT until Jessica started threatening people, posting ridiculous shit, backtracking, lying, being aggressive and showing her true colors. I was ok with it because people were for the most part getting paid. Then, they had a boom and stopped paying many legit people with fuzzy rules and...Ignored
DislikedIf you run a prop firm long enough you'll eventually encounter a few exceptional traders who could theoretically make more than the amount of fees you're pulling in. Hence why you need to hedge in some form to ensure that your cash flow is sufficient to cover all aspects of your operations. FT are clueless dilettantes who thought that failed challenge fees would suffice, but given what they've been up to lately it's obvious that's not the case and they haven't a clue how to increase their revenues beyond signing up more people hoping they'll fail....Ignored
Disliked{quote} I bought the conventional accelerated 2K account and reached the 10% target in 2 days. Now I will get 50% of the $200 which is $100. So going forward to the next phase 4K account I have ZERO risk. Got my money back and still have a chance to scale up to a 324K account. {image}Ignored
Disliked{quote} Nicely done. I am thinking of registering for 10K conventional accelerated account. Trading conservatively on the account to make 3.5% a month should give good return scaling up slowly over a period of time. I did a comparison table between the model vs trading with rego fee vs personal account with same starting capital. The accelerated model is the way to go in my view. {image}Ignored
Disliked{quote} Only difference in a for that $500 fee you can get a $100k eval account, not 10k, making total profit on that one 100k. Eval/ challenge blows any scaling model out of the water. With accelerated your fee is equal to your DD allowed, with eval you get 12k in DD for same $500 fee. In addition, you're getting an 85% split vs 50% split.Ignored
Disliked{quote} Only difference in a for that $500 fee you can get a $100k eval account, not 10k, making total profit on that one 100k. Eval/ challenge blows any scaling model out of the water. With accelerated your fee is equal to your DD allowed, with eval you get 12k in DD for same $500 fee. In addition, you're getting an 85% split vs 50% split.Ignored
Disliked{quote} Well couple of things FT did wrong in my opinion. The moment they changed live server all shit started. Their server spreads are like 1/5 or 1/10 of most of available prop firms with out commissions. Have you heard bunch of people making 6 digits with scalping? Why dont same people make 200K in FTMO and MyFF. FTMO also suffered same thing when they started their own server but with in a month they realized too many people are scalping and passing it so they added commissions. FT now realized that they can't survive with such good spreads...Ignored
Disliked{quote} Only difference in a for that $500 fee you can get a $100k eval account, not 10k, making total profit on that one 100k. Eval/ challenge blows any scaling model out of the water. With accelerated your fee is equal to your DD allowed, with eval you get 12k in DD for same $500 fee. In addition, you're getting an 85% split vs 50% split.Ignored
Disliked{quote} Eval/Challenge has a barrier to entry which is to jump through 8% & 5% first and some traders might find that a hurdle or might not suit their trading style. Accelerated could be an option for them. Some traders might have a crack at both options (me). Basically, it comes down to the horses for courses approach.Ignored
Disliked{quote} Yes, and clearly you're crushing the eval, pass that and you don't need the other account, just do 2 more of those.. I guess it's just my personal preference, but every time I run the numbers on those "scaling" models, putting the fee in a personal account always outperforms. But if you feel doing both is the fit for you, looks like you'll do great.Ignored
Disliked{quote} Nicely done. I am thinking of registering for 10K conventional accelerated account. Trading conservatively on the account to make 3.5% a month should give good return scaling up slowly over a period of time. I did a comparison table between the model vs trading with rego fee vs personal account with same starting capital. The accelerated model is the way to go in my view. {image}Ignored
Disliked{quote} Actually, they pay from a combination of revenue streams.......fees from failed challenges, volume from the LPs which they execute through and if they are a-booking MY trades, then yes profit from traders as well. As far as the folks who have an issue that these firms profit from failed challenges. It really is no different than depositing money with a b-book broker (90% of them, 100% if you're in the USA) and losing your money. Actually, these folks lose WAAAAAAAAAAAAY more than a failed challenge fee.Ignored
DislikedSure, it'd be cool to get a job and save up 10k or less (as you said), but i don't know how you would survive off the income generated.. Also, you have your whole savings at risk.. Not too smart. It's absolutely the worse idea compared to taking $600 of that 10k savings and attempting a $100k prop challenge once you have established your trading prowess on your own personal account. Both accounts would have 10k to lose before death.....but only one limits your personal risk to $600.Ignored