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Anyone trading with a Prop firm 1 reply

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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Quoting Triglav
Any traders with https://scandinavianmarkets.com/funded-trader/?
Looks like Jamie Saettele wants a piece of the prop firm pie, he's been around awhile. Their drawdown is very similar to Mentfunding, 5% trailing until you hit 5% profit then maximum drawdown becomes initial account balance.
https://www.investopedia.com/contributors/126/
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Good grief, you can't seriously be considering a prop company that charges a grand for a 100k account and has all sorts of rules to trip you up?

Only 4% daily DD, max lot size rule, must have stop loss rule, etc,etc

Obviously looking for a few suckers to make some money out of!
A few broker buddies of mine were talking to me about the prop space and "how to make it work" mathematically.

The new age of retail brokers don't understand what taking big risk feels like so they can't comprehend why they would use the models being delivered.

A few oldschool dealing strategies I am aware of would work perfectly for this space but I doubt many of the firms are actually applying anything intelligent on the backside of things.

The saturation is so high though of prop firms, the floor will fall out of it soon enough.
Quoting Mtinifx
Good grief, you can't seriously be considering a prop company that charges a grand for a 100k account and has all sorts of rules to trip you up? Only 4% daily DD, max lot size rule, must have stop loss rule, etc,etc Obviously looking for a few suckers to make some money out of!
Right, no discounts as you move up size in account evaluations.
Quoting MoxFulder
5% trailing until you hit 5% profit then maximum drawdown becomes initial account balance.
That trailing stop profit until DD become initial balance is ridiculous. Top Step FX also has that BS.
Well I like no pressure unlimited time available to finish evaluation. I check most of them and this one is one of best. Stop loss is basic for any trading. Actually I ask for opinion, because I thought its to good to be true.
tradecode, AKA PaulMF, has decided to expand his efforts, and is now getting other threads locked up by moderators.

I get that trading with an offshore broker or a remote prop firm is not for everyone, but why some people feel the need to constantly trash it, over and over and over and over again, as if it is their life's mission, is just beyond me.

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Quoting Nsak3y
tradecode, AKA PaulMF, has decided to expand his efforts, and is now getting other threads locked up by moderators. I get that trading with an offshore broker or a remote prop firm is not for everyone, but why some people feel the need to constantly trash it, over and over and over and over again, as if it is their life's mission, is just beyond me. {image}
Only logical answer is they have failed with these companies, can't accept personal responsibility, so now "they will show them" attitude or it cuts into the agenda of what they are selling. Otherwise, I agree, I mean who has this kind of time to pursue something for no reason whatsoever. The bottom line is this, as traders, we are all in business for ourselves, if you cannot figure out how to mitigate risk to trade with an offshore broker or prop firm, don't use them....SIMPLE.

I sleep great at night knowing I am funded at prop firms, I have been refunded all fees, I'm up $$$$, so it's all "house" money at this point. Offshore, exactly (as of this moment) 12.3% of my total trading capital sits with offshore brokers, 10.7% is with FDIC insured coinbase and the rest in my FDIC insured bank account.

meanwhile, these folks are spending day and night on something they don't even use or have a desire to use. Yes, very confusing as to why.
Quoting Triglav
Well I like no pressure unlimited time available to finish evaluation. I check most of them and this one is one of best. Stop loss is basic for any trading. Actually I ask for opinion, because I thought its to good to be true.
You will find that most of the funded traders on this thread HATE trailing drawdowns.

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Quoting Nsak3y
tradecode, AKA PaulMF, has decided to expand his efforts, and is now getting other threads locked up by moderators. I get that trading with an offshore broker or a remote prop firm is not for everyone, but why some people feel the need to constantly trash it, over and over and over and over again, as if it is their life's mission, is just beyond me. {image}
I'm confused, where's Paula in the screenshot?
Quoting Koop
{quote} I'm confused, where's Paula in the screenshot?
WE believe him to be tradecode on the offshore broker thread at baby pips
Quoting pipmaster77
{quote} WE believe him to be tradecode on the offshore broker thread at baby pips
Yep, it is Paula. That idiot parroted the same BS lines he have been posting here.
Trade with confidence, trade without fear.
Hi guys - does anyone know if there are any other prop firms which have similar funded accounts like MFF Rapid accounts?

where you get funded right away and you get paid 12% every 2 weeks if you follow consistency rules?
Quoting NXTrader
Hi guys - does anyone know if there are any other prop firms which have similar funded accounts like MFF Rapid accounts? where you get funded right away and you get paid 12% every 2 weeks if you follow consistency rules?
Only Funding Talent as far as I know and I think they've closed down.

If you want quick payout, your best bet is Myff Accelerated or Traders Central OTF (or Subscription plan) - in my view anyway.
Quoting Mtinifx
{quote} Only Funding Talent as far as I know and I think they've closed down. If you want quick payout, your best bet is Myff Accelerated or Traders Central OTF (or Subscription plan) - in my view anyway.
Stay away from Traders Central, they are a white label of Traders Central Capital (see below). Many people have had problem with prop firms that are funded by them, including myself.
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Hello traders, I want to share with you about a firm.
I started trading with TCF last month. Passed my verification and so far so good. Anyone wants to join TCF see the writing below and subscribe to my thread.
My thread link: https://www.forexfactory.com/thread/...4#post13814514
Why Traders Central Fund Corp is the best:
1. It has very low fees compared to FTMO. For USD 100k account it’s about 300$.
2. It has 3 different funding plans.
3. Profit sharing for OTF Challenge is 85%.
4. Registered in Canada and have been in business since 2018.
5. No daily loss limit if you choose 50% positive days rule on your OTF challenge.
6. Profit target is 8%/4% while drawdown is 10%. This one is huge advantage.
7. Leverage 1:200
8. Profit can be withdrawn By-weekly.
9. Instant live funding option is available.
10. All the funded accounts are live accounts.
Please do your research before joining and sign up using my link to get 30% discount.
http://fund.traderscentral.com/sign-up?ref=mdrubelislam
If you sign up using my link, I would be happy to help you anyway I can.
Quoting MoxFulder
{quote} Stay away from Traders Central, they are a white label of Traders Central Capital (see below). Many people have had problem with prop firms that are funded by them, including myself.{image}
Were these problemas before or after they were flogged around for not granting funding based upon consistency bullshit, even when people passed challenges ?

They tried to make damage control beginning of November. Not sure if they are any better now.
https://medium.com/traders-central-e...y-b49241f1d89a
Quoting RubelByrne
Hello traders, I want to share with you about a firm. I started trading with TCF last month. Passed my verification and so far so good. Anyone wants to join TCF see the writing below and subscribe to my thread. My thread link: https://www.forexfactory.com/thread/...4#post13814514 Why Traders Central Fund Corp is the best: 1. It has very low fees compared to FTMO. For USD 100k account it’s about 300$. 2. It has 3 different funding plans. 3. Profit sharing for OTF Challenge is 85%. 4. Registered in Canada and have been in business since...
Go away affiliate man. You're making them look worse.
This guy is spamming every thread with his affiliate link, including competitor threads. Likely not going to bode well with moderators.
Quoting Capablanca
{quote} Were these problemas before or after they were flogged around for not granting funding based upon consistency bullshit, even when people passed challenges ? They tried to make damage control beginning of November. Not sure if they are any better now. https://medium.com/traders-central-e...y-b49241f1d89a
Yes, I passed a 100K eval in May with FXseed who was funded by Traders Central Capital, I followed all the rules and Traders Central Capital still denied funding. FXseed is no longer in business. I won't go near any company funded by TCC.
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