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  • #5,241
  • Nov 9, 2021 10:48am Nov 9, 2021 10:48am
Quoting PaulMF
Any trader knows, whether scalper or not, that there is no need for 1 second or 2 seconds. It can be done in a millisecond. Any trader knows that when someone wants to profit from your trading, this type of restrictions doesn't come up.
-Have you ever traded on a live account before? It is not like trading on a demo account where you get perfect fills with no slippage, instant executions with no delays etc.. It can make a big difference.
  • #5,242
  • Nov 9, 2021 10:56am Nov 9, 2021 10:56am
Quoting Nsak3y
{quote}-Have you ever traded on a live account before? It is not like trading on a demo account where you get perfect fills with no slippage, instant executions with no delays etc.. It can make a big difference.
You are better off not engaging him. I stopped a LOOOOOOOOOOOOOOOOOOOOOONG time ago.
  • #5,243
  • Nov 9, 2021 11:00am Nov 9, 2021 11:00am
Quoting Nsak3y
{quote}-Have you ever traded on a live account before? It is not like trading on a demo account where you get perfect fills with no slippage, instant executions with no delays etc.. It can make a big difference.

I'm talking about the "replicate" thing. A trader's order can be processed by the proprietary trading firm in a millisecond. There is no need for 1 second or 2 as you mention.

Also, there are demo accounts ready to simulate real trading environments. A proprietary trading firm that does not simulate real trading environments shows its lack of professionalism.
Always ready to help
  • #5,244
  • Nov 9, 2021 11:04am Nov 9, 2021 11:04am
Quoting pipmaster77
{quote} You are better off not engaging him. I stopped a LOOOOOOOOOOOOOOOOOOOOOONG time ago.
You never engaged in any intelligent discussion, as you were tired of being embarrassed by your lack of knowledge. So, you decided to do what you have just done: trying to ridiculise with absurd comments.
Always ready to help
  • #5,245
  • Nov 9, 2021 11:25am Nov 9, 2021 11:25am
Quoting PaulMF
I'm talking about the "replicate" thing. A trader's order can be processed by the proprietary trading firm in a millisecond. There is no need for 1 second or 2 as you mention.
-It does not matter how quickly a firm can 'process' your request. Even if you are executing trades on a remote server, where the ping to broker is 0ms, you are still going to be subject to real-world slippage and delays. The fact that you do not seem to understand that is questionable, and I think pipmaster77's advice to not engage might be justifiable.

Quoting PaulMF
Also, there are demo accounts ready to simulate real trading environments. A proprietary trading firm that does not simulate real trading environments shows its lack of professionalism.
-Now you seem to be contradicting yourself. But since you seem to understand the need for more realistic demos, then why are you not spending your time and efforts on trying to convince whatever firm to do that instead of complaining and arguing about nonsensical things?

Maybe I already know the answer...

You complained on MFF thread about latency arbitrage being prohibited. So, maybe you are only interested in being able to exploit these unrealistic demo conditions?
  • #5,246
  • Nov 9, 2021 11:42am Nov 9, 2021 11:42am
Quoting PaulMF
{quote} Any trader knows, whether scalper or not, that there is no need for 1 second or 2 seconds. It can be done in a millisecond. Any trader knows that when someone wants to profit from your trading, this type of restrictions doesn't come up.

Absolutely - milliseconds these days. In fact some make HUGE profits from those milliseconds.
  • #5,247
  • Nov 9, 2021 11:43am Nov 9, 2021 11:43am
Quoting Nsak3y
{quote}-It does not matter how quickly a firm can 'process' your request. Even if you are executing trades on a remote server, where the ping to broker is 0ms, you are still going to be subject to real-world slippage and delays. The fact that you do not seem to understand that is questionable, and I think pipmaster77's advice to not engage might be justifiable. {quote}-Now you seem to be contradicting yourself. But since you seem to understand the need for more realistic demos, then why are you not spending your time and efforts on trying to convince...
No contradictions here. The message is the same: no need to restrict types of trades. A demo account can simulate real trading environments (slippage, spreads, rejections, order volume, volatility, news releases, volatility, filling time, type of market, etc.). If a proprietary trading firm does not have this type of technology available, then it does not deserve a chance, as it probably isn't what it demands to be. I have these features in my self-made research environment and I'm not a propietary trading firm.

Once a trader has been evaluated with those conditions in mind there is no need to reject her as a trader at your proprietary trading firm unless you aren't a proprietary trading firm, and your business really is "losers searching" who pay the participation fees.

The trader's signal can be processed internally in a millisecond, what happens later in the market side is another story (that can be simulated at the time of evaluation).

As I said: excuses to reject traders and keep with their participation-fees business.

This is my professional advice for those who reach some companies that want to scam them. And not just my advice, BBC also agrees with me: INSTATRADERS
Always ready to help
  • #5,248
  • Nov 9, 2021 11:45am Nov 9, 2021 11:45am
Quoting Mtinifx
{quote} Absolutely - milliseconds these days. In fact some make HUGE profits from those milliseconds.
Yes! In fact, they are mainly real prop firms what trade using these techniques.
Always ready to help
  • #5,249
  • Nov 9, 2021 11:52am Nov 9, 2021 11:52am
Guys I think we've had one person that says he opens occasional trades on the 15 min time frame so this kind of trader is not going to have any problem.

The point is, if you're a scalper are you restricted from trading Prop firm accounts?

As has been well said above and I totally agree, if you're a scalper you cannot be thinking, "oh wow I mustn't close this trade too quickly because then they wouldn't be able to copy it" !!

I can actually give you an example from yesterday. I opened some trades in an extremely volatile situation. The price was bouncing very quickly off support and resistance levels. In a matter of seconds actually. Closing the trading quickly meant a nice profit whereas as holding it would mean a fat loss. That was in a matter of seconds! Well I don't really have to tell people who are scalping the 1 minute chart about this because they know what I'm talking about. So if people are saying that this is not acceptable to Prop companies then as I said above, if you're a scalper better to avoid Prop companies altogether if they are going to spit you out
  • #5,250
  • Nov 9, 2021 12:00pm Nov 9, 2021 12:00pm
Quoting PaulMF
And not just my advice, BBC also agrees with me: INSTATRADERS
-The fact that you reference that biased BBC nonsense brings your credibility even more into question.

The whole point, and why you were complaining on MFF thread, is that you cannot cheat the system by trading with these prop firms.

As already pointed out, if you want to trade with a traditional prop firm, then go do it. Stop whining in these forums about how these firms that so many people are profiting from are not professional or do not meet your standards.
  • #5,251
  • Nov 9, 2021 12:01pm Nov 9, 2021 12:01pm
Quoting PaulMF
{quote} No contradictions here. The message is the same: no need to restrict types of trades. A demo account can simulate real trading environments (slippage, spreads, rejections, order volume, volatility, news releases, volatility, filling time, type of market, etc.). If a proprietary trading firm does not have this type of technology available, then it does not deserve a chance, as it probably isn't what it demands to be. I have these features in my self-made research environment and I'm not a propietary trading firm. Once a trader has been evaluated...
I agree with you totally! My ICmarkets demo account had exactly the same trading conditions as my FPmarkets live account from yesterday. What I'm saying is that I could have done exactly the same trades on my live account for EXACTLY the same result!

So these excuses that they come up with don't hold water I'm afraid.

Really what it amounts to is that a lot of these smaller guys like TFF want to come into the game and pick and chose the best traders, and get rid of people like me who they don't think that they are going to make any money from!!

In any case, I thought that the model was that Prop firms pay successful traders from the money from failed challenges. Has that now completely changed after the FT debacle?
  • #5,252
  • Nov 9, 2021 12:02pm Nov 9, 2021 12:02pm
Quoting Mtinifx
Guys I think we've had one person that says he opens occasional trades on the 15 min time frame so this kind of trader is not going to have any problem. The point is, if you're a scalper are you restricted from trading Prop firm accounts? As has been well said above and I totally agree, if you're a scalper you cannot be thinking, "oh wow I mustn't close this trade too quickly because then they wouldn't be able to copy it" !! I can actually give you an example from yesterday. I opened some trades in an extremely volatile situation. The price was...
FTMO (as usual) and MFF (as usual) have no issues with scalpers. They only have issues with cheaters.
  • #5,253
  • Nov 9, 2021 12:04pm Nov 9, 2021 12:04pm
Quoting Mtinifx
The point is, if you're a scalper are you restricted from trading Prop firm accounts?
-I wouldn't think so. I think that it would depend on how you are trading. You can still scalp the market on a live account, but I think a lot of it would depend on the lot size and how quickly you are closing out your positions etc.. It might also depend on the prop firm and the broker that they use etc..

Quoting Mtinifx
Really what it amounts to is that a lot of these smaller guys like TFF want to come into the game and pick and chose the best traders, and get rid of people like me who they don't think that they are going to make any money from!!
-To be fair, it could just be a lower-level support rep thinking that you were using an EA based on your equity curve or some nonsense, or assuming that it wouldn't carry over well. Better to give them time to review and respond so that we can see what is really the issue.
  • #5,254
  • Nov 9, 2021 12:22pm Nov 9, 2021 12:22pm
Quoting Nsak3y
{quote}-The fact that you reference that biased BBC nonsense brings your credibility even more into question. The whole point, and why you were complaining on MFF thread, is that you cannot cheat the system by trading with these prop firms. As already pointed out, if you want to trade with a traditional prop firm, then go do it. Stop whining in these forums about how these firms that so many people are profiting from are not professional or do not meet your standards.
I recommend you not to waste your time trying to discredit me about what I can't do. It does not offend me. I am also not interested in talking about your abilities.

Quoting Nsak3y
{quote}Stop whining in these forums about how these firms that..
I'm not whining. Just sharing knowledge and debating. I' me free to do it and I will keep doing it. You may also spend your time on other things other than telling me in which way I should spend my time.

Quoting Nsak3y
{quote}... these firms that so many people are profiting from are not professional or do not meet your standards.
No one has ever proved that (in pseudo prop-firms), and I have been scrutinizing many companies of the like for a while.
Always ready to help
  • #5,255
  • Nov 9, 2021 12:28pm Nov 9, 2021 12:28pm
Quoting PaulMF
I recommend you not to waste your time trying to discredit me
-You do that to yourself. It is no wonder why I am being told not to engage with you. It seems that you have made a reputation for yourself already.
  • #5,256
  • Nov 9, 2021 12:44pm Nov 9, 2021 12:44pm
Quoting Nsak3y
{quote}-I wouldn't think so. I think that it would depend on how you are trading. You can still scalp the market on a live account, but I think a lot of it would depend on the lot size and how quickly you are closing out your positions etc.. It might also depend on the prop firm and the broker that they use etc.. {quote}-To be fair, it could just be a lower-level support rep thinking that you were using an EA based on your equity curve or some nonsense, or assuming that it wouldn't carry over well. Better to give them time to review and respond...

Oh come on man! Don't make excuses for this stupid tin pot company. You remember the 10 second rule? Can't remember who had it, was it FT or Fidelcrest? Well that was scrapped wasn't it. Allright I got lucky yesterday. US30 was very volatile and I had a few positions which I opened and closed in a few seconds for around a grand in profit. That is scalping at it's best!

Anyway just try to get your head this response I got this morning from them this morning:

"We do not think that you weren't trading with an EA, there is a few
clear signs that it's trading with an EA. EAs are accepted, but this
trading style is a borderline case that could be copied and be
profitable on our live capital. As you argued false you didn't trade
with EA, we will forwarded this account to our head manager and he will
take a look at it. Yes, it says trades are placed by you but this could
be easily hacked"

What a professional and tactful email! Basically calling me a liar and a crook. Quite unbelievable
  • #5,257
  • Nov 9, 2021 12:48pm Nov 9, 2021 12:48pm
That's why I say to just wait and let them review (as in their head manager). It is clear that whomever you are speaking to is a moron. Just my two cents. You can do what you want. This firm is new and will need to prove that they are credible and can be trusted. I just prefer to not judge a firm by their moronic support, because if I did that, I would not ever consider trading with most firms.
  • #5,258
  • Nov 9, 2021 12:51pm Nov 9, 2021 12:51pm
Anyway guys, you can see my experience with TFF.
I think it should be fairly clear after all this:


AVOID TRUE FOREX FUNDS!!


Also after this, it may very well be that they will come up with some excuse not to pay people. That guy that said he's been paid out, could very well be a scam post. Of course they might pay one or two but if someone makes a huge profit, will they pay out? I doubt it very much!!
  • #5,259
  • Nov 9, 2021 12:58pm Nov 9, 2021 12:58pm
Quoting Nsak3y
That's why I say to just wait and let them review (as in their head manager). It is clear that whomever you are speaking to is a moron. Just my two cents. You can do what you want. This firm is new and will need to prove that they are credible and can be trusted. I just prefer to not judge a firm by their moronic support, because if I did that, I would not ever consider trading with most firms.
No they have refunded my money. I suppose I should be grateful for that

Look the point is that this sets a precedent, not so, for all and any scalpers who have any intention at all of opening an account with True Forex Funds. After my experience they would be crazy to do so! In fact anyone would because it looks like we have another Fidelcrest here (who interestingly are also out of Hungary!).
  • #5,260
  • Nov 9, 2021 1:16pm Nov 9, 2021 1:16pm
Quoting Mtinifx
{quote} Oh come on man! Don't make excuses for this stupid tin pot company. You remember the 10 second rule? Can't remember who had it, was it FT or Fidelcrest? Well that was scrapped wasn't it. Allright I got lucky yesterday. US30 was very volatile and I had a few positions which I opened and closed in a few seconds for around a grand in profit. That is scalping at it's best! Anyway just try to get your head this response I got this morning from them this morning: "We do not think that you weren't trading with an EA, there is a few clear signs...

jeez that didnt take long.
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