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Anyone trading with a Prop firm 4 replies

prop firm new model - my trading journey 871 replies

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

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Prop Firm Hub

Quoting pipmaster77
We already know they pay, who cares how, try to get as much of it as you possibly can!
-Yes. I think that there is probably a lot of gambling going on with newbie traders swinging for the fences.

I saw a program the other day offering a done-for-you (challenges) service with a guarantee attached to it, or your money back (including the challenge fee, supposedly). I personally do not think that it is worth it, even just to save time.

At this point, though, it would not be too difficult to grind out a decent income just by hedging across multiple firms, even if you do not know how to trade at all. But, as we have seen so many times, just realizing that would require thinking with the brain, and most just do not do seem to bother with that kind of thing these days.
Quoting Nsak3y
{quote}-Yes. I think that there is probably a lot of gambling going on with newbie traders swinging for the fences. I saw a program the other day offering a done-for-you (challenges) service with a guarantee attached to it, or your money back (including the challenge fee, supposedly). I personally do not think that it is worth it, even just to save time. At this point, though, it would not be too difficult to grind out a decent income just by hedging across multiple firms, even if you do not know how to trade at all. But, as we have seen so many...
Done-for-You (Challenges):

MyFF discourages these practices very strongly and I'm sure other Props would also.

MyFF have a few posts about this in their announcements section on their discord channel.

An easy way to get your account terminated or perhaps the trader(s) being banned.

One issue is no such guarantee of passing can ever be made however, they can always offer free repeats if they fail to pass you but many appear to be petty scams.

Seriously, these type traders taking on these silly 'trade for you' schemes should take one step back by learning the simplest of trading strategies and some solid risk control on a separate demo account, pass it a few times and then try their new found simple trading strategy on a paid challenge if they wish.

Masterrmind ...........
Master your Mind then Master your Trades
Quoting Masterrmind
{quote} FTMO have traders on their payroll that trade a portion of their capital in-house.
How do you know this is true?

Sincere question.
You can reach me on Telegram @ KramerFx
Quoting Masterrmind
Done-for-You (Challenges): MyFF discourages these practices very strongly and I'm sure other Props would also.
-Yes, of course. This is why I say that I do not think that it is worth it.

As far as the guarantee, they say that they will refund you if their EA fails to pass. It is a US-based company lead by marketers that also sell a bunch of other things, (like an EA, subscription services and trading courses etc.). I doubt that they would scam anyone because they have too much to lose, however, I would definitely never consider it because the risk of getting blacklisted is very high. I also would never personally consider a service like this because I can pass my own challenges.

The point that I was trying to make is that, with services like this, someone could carve out a nice income without even knowing how to trade. Just hire a done-for-you service, then, place a buy at one firm and a sell at another firm. Rinse and repeat. Use part of the profits to buy more account services.

Definitely not advocating that people do this. Just saying that I would not doubt that it is happening already (or something similar).

The way that these models are structured opens these firms up to abuse. This is just the reality of it and something to consider, especially when we talk about the future direction (and survivability) of these firms and potential mitigation measures etc..
Quoting Nsak3y
{quote} I also would never personally consider a service like this because I can pass my own challenges. ..
Have you? Again, sincere question.
You can reach me on Telegram @ KramerFx
Quoting Masterrmind
{quote} Done-for-You (Challenges): MyFF discourages these practices very strongly and I'm sure other Props would also. MyFF have a few posts about this in their announcements section on their discord channel. An easy way to get your account terminated or perhaps the trader(s) being banned. One issue is no such guarantee of passing can ever be made however, they can always offer free repeats if they fail to pass you but many appear to be petty scams. Seriously, these type traders taking on these silly 'trade for you' schemes should take one step...
Hi Masterrmind,
there are all sorts offering this service, even Adam from Blue edge! see below, will cost you $2500 bucks!! what a rip off.
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Quoting KramerFx
Have you? Again, sincere question.
-Hired a service? No. Pass my own challenges? Yes. But I am not interested in your offer. Sorry.
Quoting geoffrod
{quote} Hi Masterrmind, there are all sorts offering this service, even Adam from Blue edge! see below, will cost you $2500 bucks!! what a rip off. {image}
It is not a rip-off if they truly delivers. One can easily pay more than 2500 bucks if they fail twice.
You can reach me on Telegram @ KramerFx
Quoting KramerFx
It is not a rip-off if they truly delivers. One can easily pay more than 2500 bucks if they fail twice.
-The risk of getting black-listed is extremely high, especially since they are likely using an EA across multiple accounts, simultaneously, in order to pass people. Honestly, what they are offering is irresponsible.
Quoting Nsak3y
{quote}-The risk of getting black-listed is extremely high, especially since they are likely using an EA across multiple accounts, simultaneously, in order to pass people. Honestly, what they are offering is irresponsible.
You are thinking critically but not critically enough. The "clients" who need such services will never want to/be able to pass those challenges anyway.
You can reach me on Telegram @ KramerFx
Quoting KramerFx
You are thinking critically but not critically enough. The "clients" who need such services will never want to/be able to pass those challenges anyway.
-Maybe. But I suspect that some of them will eventually try to learn how to trade if they want it badly enough and are tired of losing. And if that is true, then the risk of getting black-listed may not be worth it.

The reason that trading statistics are so grim is not because so many traders fail, but because so many traders quit before they ever learn enough to be consistently profitable (and not give it all back). Once a trader sees the potential, as long as they have a good enough driver, then that may be enough to keep them going.

But, it may be easier to quit if you are throwing away all of your money. Trading education can be as cheap or as expensive as you want it to be.
Quoting Nsak3y
{quote}-Maybe. But I suspect that some of them will eventually try to learn how to trade if they want it badly enough and are tired of losing. And if that is true, then the risk of getting black-listed may not be worth it. The reason that trading statistics are so grim is not because so many traders fail, but because so many traders quit before they ever learn enough to be consistently profitable (and not give it all back). Once a trader sees the potential, as long as they have a good enough driver, then that may be enough to keep them going. But,...
There are many reasons as to why certain things happen/can happen.

I can trade but I cannot trade within the parameters of prop firms, which are designed to make people fail (let's be honest here). This is the reason why I am looking to fund people for prop firms, not because I cannot trade.

Once you realize that different people have different agendas, the world is no longer simply black and white.
You can reach me on Telegram @ KramerFx
I am not making any suggestions about you. Maybe you could pass the challenges if you were willing to change your approach. Not sure what you are going on about, really. To be clear, I am speaking in general terms when I talk about throwing away money; it was not a reference to you.
Quoting geoffrod
{quote} Hi Masterrmind, there are all sorts offering this service, even Adam from Blue edge! see below, will cost you $2500 bucks!! what a rip off. {image}
Crazy huh.

I wonder how many fall for this garbage.

Seriously they would be far better off picking a super simple trading strategy and trading it all by themselves.

Check out discord on MyFF !!

Masterrmind ............
Master your Mind then Master your Trades
Quoting Nsak3y
{quote}-Hired a service? No. Pass my own challenges? Yes. But I am not interested in your offer. Sorry.
I don't think many should be interested.

Traders should put up their own coin and trade that challenge in complete isolation.

Give a man a fish and feed him for a day.
If he can fish by himself then he can feed himself for life.

Likewise for the herself side as well !

Learn to trade yourself with or without the assistance of others until you have developed a strategy that you can call your own then you don't need to be hand fed.

If it's a money issue either trade a smaller challenge or wait until you save up for a more expensive challenge.

Be a pioneer and get the job done all by yourself, you don't need handouts to make this work.

Masterrmind ............
Master your Mind then Master your Trades
Quoting Masterrmind
{quote} I don't think many should be interested. Traders should put up their own coin and trade that challenge in complete isolation. Give a man a fish and feed him for a day. If he can fish by himself then he can feed himself for life. Likewise for the herself side as well ! Learn to trade yourself with or without the assistance of others until you have developed a strategy that you can call your own then you don't need to be hand fed. If it's a money issue either trade a smaller challenge or wait until you save up for a more expensive challenge....
I am interested in such a service, but I want it to extend into the "LIVE trading" portion as well.
You can reach me on Telegram @ KramerFx
MFF's stand on Copying other trades:
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Crystal clear.

Masterrmind............
Master your Mind then Master your Trades
Quoting Masterrmind
MFF's stand on Copying other trades: {image}Chrystal clear. Masterrmind............
Person A has a MFF account...he sees a good post on Forex Factory..he decides to follow that fella...that is copying too.

You can reach me on Telegram @ KramerFx
Quoting KramerFx
{quote} Person A has a MFF account...he sees a good post on Forex Factory..he decides to follow that fella...that is copying too.
It is but I guess it only matters if they catch you.

I'd prefer to be in the camp that never ever needs to worry.

Others can make their own choice but if you or they get caught it's going to look really foolish if for example the account actually means something to you or them and is suddenly deemed to have violated the trading rules and vanishes before your or their own eyes.

We can go a little bit deeper here and include a blackmail type event that could occur at any point of time in the future.

The guy/gal who performed the trading for your challenge decides at a much later stage that if you fail to give him let's say 50% of the profit made each month then he'll dob you in and since he traded he would have all the entries in the trading journal kept safe for just such a purpose.

I know which one is safer !

Masterrmind .............
Master your Mind then Master your Trades
Quoting Masterrmind
{quote} It is but I guess it only matters if they catch you. I'd prefer to be in the camp that never ever needs to worry. Others can make their own choice but if you or they get caught it's going to look really foolish if for example the account actually means something to you or them and is suddenly deemed to have violated the trading rules and vanishes before your or their own eyes. I know which one is safer ! Masterrmind .............
Indeed...you're an intelligent man, Masterrmind.

For me, I prefer to trade my own capital, but I do not mind funding others to trade for me on prop firm accounts...money makes money...smart people divest and diversify risk..
You can reach me on Telegram @ KramerFx
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