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Anyone trading with a Prop firm 2 replies

prop firm new model - my trading journey 869 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

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Prop Firm Hub

Quoting Cryptosurf
{quote} Why are you wasting time here with your case instead of taking directly to their FTMO thread? https://www.forexfactory.com/thread/...erious-traders
That's a fair comment though I don't think I'm wasting my time. I don't intend to get solution of my problem here but rather an understanding of how the real market execution processes work behind the scene. From people who might know it. I doubt FTMO would ever reveal that to me as it would put them into a weaker position. That's why I'm asking here before I take it as arguments to FTMO. (btw. I've sent several emails to their official support already - with no response so far)
Even a broken clock is right twice a day
The inverse also applies, Prop Firms face all sorts of attempts to defraud them.

This is from MFF, dated yesterday:

Quote
Today, a strange phenomenon occurred where by we saw a giant number of live account violations all with identical XAU/USD trades (over 100 live accounts).
Upon questioning a bunch of the customers who came to us arguing that someone else made the trades on their account (because they were all using the same popular "pass your evaluation" and fund management service) we discovered who the company is and how many folks are using them.

BTW, we all love those big XAU/USD long jumps, but only when they run in our favor.
Follow your guts, if you want to lose your money...
Quoting Vitore
{quote} That's a fair comment though I don't think I'm wasting my time. I don't intend to get solution of my problem here but rather an understanding of how the real market execution processes work behind the scene. From people who might know it. I doubt FTMO would ever reveal that to me as it would put them into a weaker position. That's why I'm asking here before I take it as arguments to FTMO. (btw. I've sent several emails to their official support already - with no response so far)
That's all well and good, but they are actively watching their dedicated thread. Others in the past have had problems resolved when they brought directly to their attention.
Trade with confidence, trade without fear.
Quoting Cryptosurf
{quote} That's all well and good, but they are actively watching their dedicated thread. Others in the past have had problems resolved when they brought directly to their attention.
I see. Well I just called their support and they promised someone from their trading dept would have a look at my case immediately and come back to me. So let's see. But thank you for your advice
Even a broken clock is right twice a day
@Vitore - I cannot understand everything that you are asking about, but the only point that may even matter is the point that you already seem to understand, and that is this:

Quote
orders placed on any FTMO trading platform are not guaranteed to receive a fill at the requested price of the order but will receive a fill based on the current market conditions instead.

Because of this fact, and because the slippage for crypto alt-coins can be severe, this can be very problematic - obviously.

The part that I do not understand, is, if this is the case, then why are they offering things like DOT, and why in the world would it be available for challenges, when it clearly cannot be used to pass challenges!?

But, as previously suggested, this is something that you should take up with FTMO. To avoid canned, idiotic responses, you should challenge them on it here at FF so that others can chime in if they refuse to be reasonable.
Quoting Vitore
A question to anyone kind and knowledgeable enough to explain it to me (following up on my FTMO case): (a) FTMO's Execution Policy & Trading conditions: "In the FTMO Challenge, Verification and on the FTMO Account, the execution of orders is modelled after the live market execution model. In other words, orders placed on any FTMO trading platform are not guaranteed to receive a fill at the requested price of the order but will receive a fill based on the current market conditions instead." (b) FTMO email extract where they accused me of attempting...
FTMO were definitely not executing your challenge trades Vitore..all this shouldn't matter, its smoke and mirrors! Whoever youve been dealing with on support is a chancer. I sent you a PM.
As far as the technical, inner-workings of how FTMO handles their crypto trading, we can only speculate. More information is needed. I would be surprised if they are willing to divulge those kinds of details publicly.

But none of it really matters, since the basic issue of volume/slippage remains. They cannot justify offering something if the challenge is not passable without enforcing special parameters on the account, such as trading small position sizes, which is not a requirement that has been disclosed to my knowledge.
Quoting Thoughts
{quote} FTMO were definitely not executing your challenge trades Vitore..all this shouldn't matter, its smoke and mirrors! Whoever youve been dealing with on support is a chancer. I sent you a PM.
+1
If there should be any limitation on a instrument (pair) like leverage or max allowed lots it is a provider's responsibility. They are defining the trading conditions and it's nonsense to blame the trader.
I can agree that instruments like these should not be allowed to trade and you have not enough trades but these are the rules and they are not broken.

@Vitore I have noticed that 2 of your trades were opened on 24.10 and are closed on 25.10. They have good profit of 1.65% and 2.58%. But the price came down to 41.31 later on 24.10 on my chart. This what is disturbing me is what was the drawdown of these deals?


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Quoting fx_rookie
{quote} +1 If there should be any limitation on a instrument (pair) like leverage or max allowed lots it is a provider's responsibility. They are defining the trading conditions and it's nonsense to blame the trader. I can agree that instruments like these should not be allowed to trade and you have not enough trades but these are the rules and they are not broken. @Vitore I have noticed that 2 of your trades were opened on 24.10 and are closed on 25.10. They have good profit of 1.65% and 2.58%. But the price came down to 41.31 later on 24.10 on...
I started small and scaled in later after the double bottom was formed so no, there was no significant drawdown. The account is no more accessible to me as FTMO removed it from my profile for reasons unknown to me (unlike my Challenge account which I can still access) so I cannot see the individual additions to the open position, and neither myfxbook shows this level of detail. Overall, FTMO evaluated my total drawdown during verification as 2.68%, otherwise they would have not issued my certificate of successful completion (which still appears in my client zone)
Even a broken clock is right twice a day
Quoting Thoughts
{quote} FTMO were definitely not executing your challenge trades Vitore..all this shouldn't matter, its smoke and mirrors! Whoever youve been dealing with on support is a chancer. I sent you a PM.
I'm pretty sure they weren't and you're right in that all of it is irrelevant anyway, I'm just curious
Even a broken clock is right twice a day
Quoting Vitore
{quote} I started small and scaled in later after the double bottom was formed so no, there was no significant drawdown. The account is no more accessible to me as FTMO removed it from my profile for reasons unknown to me (unlike my Challenge account which I can still access)
You're saying that it was removed entirely? Its no longer in your client dashboard? If so I'm finding that hard to believe. That and the fact you're creating a stink here and radio silent on their own dedicated thread.
Trade with confidence, trade without fear.
Quoting Cryptosurf
{quote} You're saying that it was removed entirely? Its no longer in your client dashboard? If so I'm finding that hard to believe. That and the fact you're creating a stink here and radio silent on their own dedicated thread.
Not completely. I can still see it in my client zone but the account was unlinked from the assigned cTrader ID and so I cannot access this particular account via the trading platform (cTrader). The login credentials still work but instead of the original verification account I see a different one with different number, balance reduced to $1 and empty trading history

I started posting here because their thread has 2 posts during this whole week and Vitek (FTMO) is present there only on Fridays anyway. It is much more active here and better chance to get answers to my questions (not resolution - for that I contacted their support already). That's all
Even a broken clock is right twice a day
Quoting Cryptosurf
and radio silent on their own dedicated thread.
-This.

Why have you not commented on their thread? I think that many traders here are curious and maybe even concerned about how this is going to be handled.
Quoting Vitore
{quote} Not completely. I can still see it in my client zone but the account was unlinked from the assigned cTrader ID and so I cannot access this particular account via the trading platform (cTrader). The login credentials still work but instead of the original verification account I see a different one with different number, balance reduced to $1 and empty trading history
Honestly by now you need to be posting some proof and receipts on their dedicated thread to get them involved. Something is starting to sound fishy with your story.
Trade with confidence, trade without fear.
Quoting Vitore
{quote} Not completely. I can still see it in my client zone but the ....l
So why don't you share it. It is allowed. Here is mine passed challenge. https://trader.ftmo.com/metrix?share=c102ffc44496
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Quoting Cryptosurf
{quote} Honestly by now you need to be posting some proof and receipts on their dedicated thread to get them involved. Something is starting to sound fishy with your story.
Posted on their forum to avoid any doubts
Even a broken clock is right twice a day
Quoting fx_rookie
{quote} So why don't you share it. It is allowed. Here is mine passed challenge. https://trader.ftmo.com/metrix?share=c102ffc44496 {image}
A great idea indeed. I wasn't aware of this functionality. Here you go:
https://trader.ftmo.com/metrix?share=17d0f48ae101
Even a broken clock is right twice a day
Quoting Vitore
{quote} Posted on their forum to avoid any doubts
About time, but Im thinking you knew what you were doing (volume arb) and got popped.
Trade with confidence, trade without fear.
Quoting Cryptosurf
{quote} About time, but Im thinking you knew what you were doing (volume arb) and got popped.
I don't know what you mean tbh. I did not expect they would consider the volume too big. The $ volume is equivalent to 250 Oz Gold or 12 US30 indices. Rather small for a $200k account
Even a broken clock is right twice a day
Thank you Vitore. Well, now all doubters should be completely satisfied As I mentioned in my earlier posts, if there is anyone to blame this is not you, but conditions on platform, the rules and their unclear interpretation. In my opinion you have not violated any rules.
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