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Prop Firm Elite

  • #201
  • Dec 8, 2021 3:45pm Dec 8, 2021 3:45pm
Ruble,

Every prop firm has something negative about them. I am sure this firm is not the most perfect one that everyone has been waiting for. What are some of the bad things about Traders Central Fund?
  • #202
  • Dec 8, 2021 10:12pm Dec 8, 2021 10:12pm
Martingale strategy is not allowed. Process is automated by our backers algorithm, which is constantly monitoring your account, should the algorithm detect martingale in your trading strategy, risk desk will close your account immediately and the one time fee will not be refunded. Any profits made from prohibited strategies will be withdrawn and will not count towards the evaluation.


Would be nice if they defined what martingale is. There are many forms. So, do they mean the classic double up after every loss or do they mean once you get into a position, you can never get into that position again?

How you comply with rules that you don't know? It will become "read our minds" rules.

They could easily draw up a scenario with examples of what is considered Martingale especially that supposedly there is an algorithm written for it as they claim.
If they are not able to clearly define Martingale and their rules against it, they are just not trustworthy at all in my view.
Another one: Prohibited strategies. What are they and who prohibited them?
Sounds like an avenue for purging traders whenever they want.
Some really red flags in there.
  • #203
  • Dec 8, 2021 10:21pm Dec 8, 2021 10:21pm
EAs are strictly prohibited on our Monthly subscription plans. Trade Copiers may be used only under the condition that our account is the Master Account, meaning it is the one you are copying trades from.

Why EAs would not be allowed to be used on their monthly sub plans?????? Do they want traders that make money? If yes what is to them that EAs are used on monthly subs or not? Weird.

Still, none of their business if someone uses copiers or not. As long as they make money.

This place is full of vague and undefined rules that they have tried to minimize their impact in order to not scare away traders.

I have got a bad feeling about these people.
  • #204
  • Dec 8, 2021 11:46pm Dec 8, 2021 11:46pm
This Traders Central funding seems good value. I have been reading their Telegram group with almost 10000 subscribers and have not seen many complains and Support is always there to fix things.

Interesting, their 200K OTF is cheaper than the FTMO 100K Challenge.

On the other hand, rules are confusing (at least for the OTF).
The Capital Grow plan, as mentioned in the Help Center Q&A requires that the trader does not withdraw profits. However, on the Home page, the Q&A appears to say otherwise.
On the Help Center Q&A they say that Grow plan only applies to the 50K and 100K books, however they mention a grow plan for the 200K book.
Follow your guts, if you want to lose your money...
  • #205
  • Dec 10, 2021 6:42am Dec 10, 2021 6:42am
Attached Image
  • #206
  • Dec 10, 2021 10:34am Dec 10, 2021 10:34am
Quoting FXTrader.FF
{quote} It's hard to trade consistent profits because the broker (Global Prime) often widens the spread and big spike. It has triggered my SL from time to time Here is an example: My BuoyTrade Prop Firm (Global Prime Broker) {image} FXOpen-ECN Live Server {image} FxPro Real: {image} These are my open trades. Don't imagine what will happen when the market opens next. {image}
yes, that has been previously reported in other "prop-firms"
Always ready to help
  • #207
  • Dec 10, 2021 10:36am Dec 10, 2021 10:36am
Quoting JotaP
On his best from her conniving girly side the Nsakey moron found that some poster of BabyPips named tradecode is actually PaulMF. https://www.forexfactory.com/thread/...5#post13813735. Who the hell follows BabyPips posts? Only a typical loser. The interesting part is that the conniving NsaKey did not even bother to read other posts from tradecode, he jumped straight to FF to spread the news! Had he bothered to read other posts he would have concluded that there is nothing similar between tradecode and PaulMF. Actually, tradecode...


This is even better:
Where to get mql5 indicator lessons? - Trading Tech and Tools - BabyPips.com Forex Trading Forum

Sure that user sounds familiar to you!
Always ready to help
  • #208
  • Dec 10, 2021 1:25pm Dec 10, 2021 1:25pm
Quoting PaulMF
{quote} This is even better: Where to get mql5 indicator lessons? - Trading Tech and Tools - BabyPips.com Forex Trading Forum Sure that user sounds familiar to you!
They make a nice couple, one is a walking salesman the other is barely able to articulate more than one sentence at a time. Complete empty minds.
Follow your guts, if you want to lose your money...
  • #209
  • Dec 10, 2021 5:41pm Dec 10, 2021 5:41pm
Quoting Tim_isoara
{image}
Do you trade manually or with EA?
At what point are you planning to turf your funding company?
  • #210
  • Edited 10:54pm Dec 10, 2021 10:18pm | Edited 10:54pm
Quoting OutThere
{quote} Do you trade manually or with EA? At what point are you planning to turf your funding company?
Manually.
I don't understand.
1. The company gives you funds for trading.
2. You make a profit.
3. They share the profit.
  • #211
  • Dec 10, 2021 11:20pm Dec 10, 2021 11:20pm
Quoting Tim_isoara
{quote} Manually. I don't understand. 1. The company gives you funds for trading. 2. You make a profit. 3. They share the profit.
Yes but are you planning to ditch them when you have made 10K out of your partnership with them or 50K or a gazillion?
Just wondering if you plan to make a sizable chunk for yourself and part ways or it's gonna be a life time marriage for some reason.
  • #212
  • Dec 11, 2021 12:25am Dec 11, 2021 12:25am
Quoting OutThere
{quote} Yes but are you planning to ditch them when you have made 10K out of your partnership with them or 50K or a gazillion? Just wondering if you plan to make a sizable chunk for yourself and part ways or it's gonna be a life time marriage for some reason.
I trade my accounts anyway. I use a copy trade for prop firms. No effort in plus for me. So, it's a long term colaboration, till they pay or till I break the rules.I stop trading for prop firms at 2.5% profit per week, 10% profit per month. I use different risk for my personal accounts vs prop firms accounts.
  • #213
  • Dec 11, 2021 2:19am Dec 11, 2021 2:19am
Quoting Tim_isoara
{quote} I trade my accounts anyway. I use a copy trade for prop firms. No effort in plus for me. So, it's a long term colaboration, till they pay or till I break the rules.I stop trading for prop firms at 2.5% profit per week, 10% profit per month. I use different risk for my personal accounts vs prop firms accounts.
I actually like that. Give them what you think you want to give them. Brilliant.
  • #214
  • Dec 13, 2021 8:43pm Dec 13, 2021 8:43pm
Quoting FXTrader.FF
{quote} It's hard to trade consistent profits because the broker (Global Prime) often widens the spread and big spike. It has triggered my SL from time to time Here is an example: My BuoyTrade Prop Firm (Global Prime Broker) {image} FXOpen-ECN Live Server {image} FxPro Real: {image} These are my open trades. Don't imagine what will happen when the market opens next. {image}
Here is another good example:

My long gbpnzd position opens at 1.94728. After moving with 150+ pips I moved SL to BE, but it was a fake swing and triggered SL at 1.94387. While the investing.com chart simultaneously shows a low of 1.9521 (82 pips difference).

Attached Image (click to enlarge)
Click to Enlarge Name: Global Prime.GN.png Size: 117 KB

Attached Image (click to enlarge)
Click to Enlarge Name: investing.png Size: 45 KB

What the hell happened to BuoyTrade Prop Firm (Global Prime Broker)?
  • #215
  • Dec 13, 2021 9:24pm Dec 13, 2021 9:24pm
Must complain how can they do this being a reputed broker
Allergic to bullshitters, never argue with fools
  • #216
  • Edited 11:02pm Dec 13, 2021 10:19pm | Edited 11:02pm
Quoting FXTrader.FF
{quote} Here is another good example: My long gbpnzd position opens at 1.94728. After moving with 150+ pips I moved SL to BE, but it was a fake swing and triggered SL at 1.94387. While the investing.com chart simultaneously shows a low of 1.9521 (82 pips difference). {image} {image} What the hell happened to BuoyTrade Prop Firm (Global Prime Broker)?
What I feel is that because Buoy is an A-Book prop firm, it passes orders directly to Global Prime. Global Prime had not many orders to fill in the whole range of the spike (it caught your Stop Loss order somewhere within the range) and were almost all, if not all, in the same direction. Low Liquidity and High Volatility.
Follow your guts, if you want to lose your money...
  • #217
  • Dec 14, 2021 4:23am Dec 14, 2021 4:23am
Quoting FXTrader.FF
{quote} Here is another good example: My long gbpnzd position opens at 1.94728. After moving with 150+ pips I moved SL to BE, but it was a fake swing and triggered SL at 1.94387. While the investing.com chart simultaneously shows a low of 1.9521 (82 pips difference). {image} {image} What the hell happened to BuoyTrade Prop Firm (Global Prime Broker)?
It happens all the time in fake prop-firms. They have to trigger all the stop losses. There is a clear conflict of interest.
Always ready to help
  • #218
  • Dec 14, 2021 5:25am Dec 14, 2021 5:25am
Quoting PaulMF
{quote} It happens all the time in fake prop-firms. They have to trigger all the stop losses. There is a clear conflict of interest.
They claim to be A-Book, but that does not mean there is no S/L hunt. It is really strange such large spike when orders are passed to the market, unless all the liquidity providers are nasty.
Rollover is not the case here, since other providers are doing much better.
Follow your guts, if you want to lose your money...
  • #219
  • Dec 14, 2021 6:22am Dec 14, 2021 6:22am
Quoting JotaP
{quote} They claim to be A-Book, but that does not mean there is no S/L hunt. It is really strange such large spike when orders are passed to the market, unless all the liquidity providers are nasty. Rollover is not the case here, since other providers are doing much better.
But what if they claim to be A-book and in fact they are but they have some partnership agreement with the broker that is the one that has a B-book for trades coming from the fake prop-firm?

The fake prop-firm and the broker may share the profits. The broker may also create fake "live" accounts in the name of the fake prop-firm.

Without regulation, and having in mind that no real prop-firm looks for talented traders following this approach, we can bring to the debate many questions.
Always ready to help
  • #220
  • Dec 14, 2021 6:57am Dec 14, 2021 6:57am
Quoting PaulMF
{quote} But what if they claim to be A-book and in fact they are but they have some partnership agreement with the broker that is the one that has a B-book for trades coming from the fake prop-firm? The fake prop-firm and the broker may share the profits. The broker may also create fake "live" accounts in the name of the fake prop-firm. Without regulation, and having in mind that no real prop-firm looks for talented traders following this approach, we can bring to the debate many questions.
Greed is endemic, when in doubt we should assume greed is there, so regulation is needed.
Follow your guts, if you want to lose your money...
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