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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting TrAndy1
{quote} I am talking with preference on SPX. Even 100 units on MFF with one click are just 2 contracts. Even on FTMO with 100 units it would be only 20 contracts on the most liquid futures contract in the world. I would not expect any slippage when I would enter 100 units at MFF. So my question is legitimate if the play tricks here with Slipp ? I am not talking about market slippage or trading on news, just regularly. I would assume that SPX is hedged with SP500 Futures, so 2 contracts on bid/ask is nothing.

You are trading spot cfds mate at MFF.. its not the same as futures.
Quoting maximusa
ANYONE using Funded Trading Plus ? they is really legit ?
I think most of the participants here don't care about them because they have a trailing drawdown which is something horrible
https://www.fundedtradingplus.com/drawdown-information/
Recently I have noticed remarkable slippage at MFF when I closed my six 2 lots open orders all at once with bulk operations in MT5. It was 6 points or 0.6 pips slippage on a limit order on a major FX during a no news period and not on any round number. So I do have to manually all to enter and exit them ? And how much do I need to wait before I can click on the next order or position ? It is 100ms or 250ms or 500ms or ... waiting time ? How about other prop firms on that behavior like TFF e.g. ?
Quoting TrAndy1
Recently I have noticed remarkable slippage at MFF when I closed my six 2 lots open orders all at once with bulk operations in MT5. It was 6 points or 0.6 pips slippage on a limit order on a major FX during a no news period and not on any round number. So I do have to manually all to enter and exit them ? And how much do I need to wait before I can click on the next order or position ? It is 100ms or 250ms or 500ms or ... waiting time ? How about other prop firms on that behavior like TFF e.g. ?
You got slippage on a limit order? Its not even possible to negatively slip a limit order.
Quoting Takisd
{quote} You got slippage on a limit order? Its not even possible to negatively slip a limit order.
That is what I have seen. It is very common do get some slippage even on a limit order in Metatrader because when price reaches limit the limit order is automatically converted to a market order. That is MT behavior. But in that case I got a much bigger slippage at 6 points on all positions at same price, same slippage, same time.
Quoting TrAndy1
{quote} That is what I have seen. It is very common do get some slippage even on a limit order in Metatrader because when price reaches limit the limit order is automatically converted to a market order. That is MT behavior. But in that case I got a much bigger slippage at 6 points on all positions at same price, same slippage, same time.

Have you spoken to them about this? Because having worked with meta4 and 5 i can tell you I have never in my entire career seen negative slippage on a limit order because limit order is a fill-only-if message and you cant slip it you can miss a fill though
Quoting Takisd
{quote} You can but your payout reverts to the newest account's period. So its best to get them all to max payout % and bi weekly before merging.
OK, that makes sense.

As far as MFF US30 slippage is concerned I've noticed that size isn't much of an issue when compared to what's actually happening in the market when your order is being executed. I've had 1 lot orders slipped by as much as 10 points and I've also had 10 lot orders slipping by just 1 point (and everything in between). When the market is galloping, even without news, you should still expect slippage. On the flipside, I'm also seeing a fair bit of positive slippage so that helps in offsetting the costs.
Quoting Takisd
I have never in my entire career seen negative slippage on a limit order because limit order is a fill-only-if message and you cant slip it you can miss a fill though
-I suppose that it might depend on how these firms are operating. For example, if the limit order is placed as a market order once hit.

Would make sense if things are happening at the demo level and real liquidity could not be impacted by large orders. If they allowed true, market-maker limit orders, then it would be as you say, where not all of the position might be taken up in the order and you get partial fills. Maybe their compromise would be to treat it like a market order and just simulate slippage on the order.

I do not know much about it, honestly. When I was trading crypto, I was trading directly on the exchanges, so limit orders were actually limit orders and could be set different ways, either as market maker or taker. In the case of trading through a broker or firm, I'm really not sure how it is handled.
Quoting Takisd
{quote} Have you spoken to them about this? Because having worked with meta4 and 5 i can tell you I have never in my entire career seen negative slippage on a limit order because limit order is a fill-only-if message and you cant slip it you can miss a fill though
In MFF I notice that I get no slippage when opening order up to 4.5 lots hitting the buy / sell bottom (more than 4.5 lots I get slippage).
But then I almost always close positions with TP/SL and it's rare not to have 2 or 3 pips slippage.
If I remember well the guys in MFF said once in discord that they were applying simulated slippage in demo accounts according with the order book of several liquidity providers at the time of the trade.
Quoting Capablanca
applying simulated slippage in demo accounts according with the order book of several liquidity providers at the time of the trade.
-That would make sense. With respect to limit orders, they probably just treat it like a market order once hit and simulate slippage accordingly since it might be difficult to employ an alternative solution without getting abused. I could be wrong, though, since I can only speculate based on my limited understanding of it.
Quoting Capablanca
{quote} I think most of the participants here don't care about them because they have a trailing drawdown which is something horrible https://www.fundedtradingplus.com/drawdown-information/
they have Relative Drawdown and why that horrible ? you should not loss 6% from up balance with low risk its good .. as no target .
Quoting maximusa
{quote} they have Relative Drawdown and why that horrible ? you should not loss 6% from up balance with low risk its good .. as no target .
Because it makes the passage of challenge significantly tougher.
When it lowers your risk, it lowers the probability you can pass the challenge.
i have 3 live account MFF , TFT and E8
from i place same trade size and E8 have less 10% profit form other why is that ?
Quoting HengkiTjen
i have 3 live account MFF , TFT and E8 from i place same trade size and E8 have less 10% profit form other why is that ?
Commissions or slippage ?
Quoting Takisd
{quote} You got slippage on a limit order? Its not even possible to negatively slip a limit order.
I know right. It shouldn't at all be possible to get negative slippage on a limit (spot or otherwise); but I've once seen what TrAndy describes however in that instance the slippage was negligible. i.e. I was slipped closing by TP.

Quoting TrAndy1
{quote}...when price reaches limit the limit order is automatically converted to a market order. That is MT behavior..
Interesting, but really strange TrAndy. I'm not aware of this. Can you confirm you're not referring to stop orders here?
Quoting Capablanca
{quote} Commissions or slippage ?
slippage for sure
that not good
Quoting Nsak3y
{quote}-That would make sense. With respect to limit orders, they probably just treat it like a market order once hit and simulate slippage accordingly since it might be difficult to employ an alternative solution without getting abused. I could be wrong, though, since I can only speculate based on my limited understanding of it.
For SL I can understand that we get slippage because a stop loss in other brokers is just that.
Once the bid (in long positions) or ask (short position) hit the stop value then the order becomes a market order and may have slippage.
But for TP I don't understand why I get slippage.
I'm saying that I only sell/buy at X so I should make it at X or better so either I can be served or the order should stay dormant until I can be served at X
Quoting maximusa
{quote} they have Relative Drawdown and why that horrible ? you should not loss 6% from up balance with low risk its good .. as no target .
https://www.forexfactory.com/thread/...-likes14061922
A quick description of The Funded Trader payout process (which is terrible IMO)

1. Let's say payout day is D (and D+1, etc. it's always 1, 2, 3, business days)

2. On D we go to the dashboard, section Profit share and the Request Withdraw bottom is active. We click there to initiate.

3. We receive a confirmation email saying that the withdraw was received and details

Quote
Your withdrawal request has been successfully submitted. The Payout Specialist will send a payout confirmation to your email, once the withdrawal request has been received, you must reply to the payout confirmation email to receive your payout. Please allow 3 business days to receive your payout. The weekends and holidays are not business days, business days include Monday-Friday USA, Eastern Standard Time (EST). Please take note your payout will be processed and sent by the close of the day 11:59pm EST Eastern Standard Time (EST), USA on your...

4. On D+1 we receive an email with the details


Hi,

Please Read all the information below before confirming your payout

Please confirm the following withdrawal details, once we receive your email confirmation, we will begin processing your request:

Order Number: x
Account number: x
Withdrawal Amount: $x
Refund: $x
Profit Share: x%
Payout Method: x
Payout address: x
Total Payout: $x
Scheduled payout date: x (D + 3 business days)

Please copy and reply with the following message to confirm your withdrawal:

I confirm that I have provided the correct withdrawal details including the expected payout amount, payout method, and payout details (address).

Once we receive this message as a reply to this email from you, we will begin processing your payout. Please allow 3 business days to receive your payout. The weekends and holidays are not business days, business days include Monday-Friday USA, Eastern Standard Time (EST). Please take note your payout will be processed and sent before the closing of the day 11:59pm Eastern Standard Time (EST), USA on your scheduled payout date.
Additional information:
Note: Your account will be placed in read-only when your withdrawal request is submitted.

Note: Future payouts are 14 days since the first trade was placed after the previous payout date.

Please have no open positions or orders

Note: You may resume trading once your account balance has been adjusted to its initial
balance from the requested withdrawal.

All traders are responsible for transaction fees associated with their payouts.
Payout Eligibility: A trader must be verified by submitting a government-issued ID, proof of address within the last 60 days, and submitting a signed Funded Trader Agreement before being eligible for any payouts.
Please submit your KYC verification through our updated system:

xxxxxx
If you have completed the KYC Verification you do not need to resubmit

Very respectfully,

xxxxxx
The Funded Trader Withdrawal



5. We reply by email with the phrase they want "I confirm that I have provided the correct withdrawal details including the expected payout amount, payout method, and payout details (address)."

6. On D+2 we receive an email
"Hi,
Your payout confirmation has been received, congratulations on your payout again please read all of the details provided in your payout confirmation, thank you.
xxxx
Payouts Specialist"

7. On D+3, late in the night, we get the payout (crypto) and the account turns into the original amount and read mode turns into normal trading mode

In resume:
a) It takes 3 business days to get the payout (in fact it's more 4 days if you request on D early in the morning and only get funds on D+3 late in the night)
b) During that period of 3/4 business days we can't trade which, in 14 days payout cycles, is very bad. This payout process is even worse than TFF.
Quoting Nsak3y
{quote}-I suppose that it might depend on how these firms are operating. For example, if the limit order is placed as a market order once hit. Would make sense if things are happening at the demo level and real liquidity could not be impacted by large orders. If they allowed true, market-maker limit orders, then it would be as you say, where not all of the position might be taken up in the order and you get partial fills. Maybe their compromise would be to treat it like a market order and just simulate slippage on the order. I do not know much about...

there is no function in metatrader to turn a limit into a market order. Only stop orders become a market order and are subject to slippage.
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