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  • #9,821
  • Aug 6, 2022 2:34pm Aug 6, 2022 2:34pm
Quoting Takisd
If I owned a brokerage, I would make btc commission 100% because leveraged crypto is awful. $50 is a lot but I understand why someone would do that.
Sounds reasonable, but perhaps it would be more fitting to hike margin, and make money on the spread? I'm thinking; if the costs are so prohibitive why offer it in the first place?
  • #9,822
  • Aug 6, 2022 2:35pm Aug 6, 2022 2:35pm
Quoting ohyeah
{quote} It's probably a misconfiguration on the broker side. Let them know about it and they'll fix it if it's a misconfiguration.
I'm not sure its an error on E8's part ohyeah
  • #9,823
  • Aug 6, 2022 3:07pm Aug 6, 2022 3:07pm
Quoting Thoughts
{quote}Sounds reasonable, but perhaps it would be more fitting to hike margin, and make money on the spread? I'm thinking; if the costs are so prohibitive why offer it in the first place?

I would offer no more than 1:3 leverage. If you want to remove toxic flow the slippage is going to be massive because crypto liquidity is awful.
  • #9,824
  • Aug 6, 2022 8:21pm Aug 6, 2022 8:21pm
@ takisd, have you changed your mind about 8Cap? At the rate new props are choosing to partner with them, they're poised to take over and establish a monopoly! Or does it ultimately depend on the "integrity" of the people behind the prop at the end of the day? I recall that e8 initially used them as partner-broker (maybe they still do) and yet, people seem to find e8 satisfactory.

What do you guys think? Would it be more advantageous to go with a prop that A) uses an outside broker (assuming it's reputable) or B) one that uses its own server for trading (with potential conflict-of-interest implications, since it's no secret that most props actually want their traders to repeatedly fail)?
Amor Fati--F. Nietzsche
  • #9,825
  • Aug 6, 2022 9:01pm Aug 6, 2022 9:01pm
Quoting Bizziebee
{quote} It is good you got a refund but refunding a few hundred is different and should be no problem if you used Paypal Problem could come if you get funded and try to get your profit split! I never had any real problem with Eightcap - did you see my post on Fundednext thread regarding possible that you are using too many indicators? Some indicators can slow or even freeze your platform.
Hi, bizziebee. I guess all I wanted was to thank FTUK for making the refund I asked for hassle-free in that I did not have to do it from my Paypal account.

As for 8Cap, my experience using them with FundedNext was awful. And it certainly wasn't because I was using a ton of indicators. Best of luck to you, nonetheless.
Amor Fati--F. Nietzsche
  • #9,826
  • Aug 6, 2022 9:38pm Aug 6, 2022 9:38pm
Mental illness definition: People who trade extremely well but are still looking for someone to toss them money and lay a whole bunch of rules on them and exploit their skills.
A few around here I see.
Dudes/Dudetts, all you need is the market. Dah
  • #9,827
  • Aug 6, 2022 9:58pm Aug 6, 2022 9:58pm
Quoting OutThere
Mental illness definition: People who trade extremely well but are still looking for someone to toss them money and lay a whole bunch of rules on them and exploit their skills. A few around here I see. Dudes/Dudetts, all you need is the market. Dah
Who are the people that trade extremely well? You mean the prop firms?
  • #9,828
  • Aug 6, 2022 10:38pm Aug 6, 2022 10:38pm
Quoting ohyeah
{quote} Who are the people that trade extremely well? You mean the prop firms?
The prop firms don't trade.
  • #9,829
  • Aug 6, 2022 10:43pm Aug 6, 2022 10:43pm
Quoting OutThere
Mental illness definition: People who trade extremely well but are still looking for someone to toss them money and lay a whole bunch of rules on them and exploit their skills. A few around here I see. Dudes/Dudetts, all you need is the market. Dah
Mental illness definition: One who would prefer to trade his/her own money as opposed to paying $1,000 for a $200K account with 10 % DD, which would be 20K, or approximately 20 times your money, and a side benefit you get the original 1K back. What rules? Don't lose 10%?Every firm I trade with allows me to trade however I wish, is there a loss restriction? Of course. It is still 20 times the fee, which is refunded.
There is nothing better than trading completely risk free with none of your own money at risk. You should try it sometime.
Probably can't convince you though, last conversation we had I believe you were getting your 4th or 5th booster shot of a "vaccine" that doesn't work so you could go eat in a restaurant if I recall correctly.
  • #9,830
  • Aug 6, 2022 10:47pm Aug 6, 2022 10:47pm
Quoting pipmaster77
{quote} Mental illness definition: One who would prefer to trade his/her own money as opposed to paying $1,000 for a $200K account with 10 % DD, which would be 20K, or approximately 20 times your money, and a side benefit you get the original 1K back. What rules? Don't lose 10%?Every firm I trade with allows me to trade however I wish, is there a loss restriction? Of course. It is still 20 times the fee, which is refunded. There is nothing better than trading completely risk free with none of your own money at risk. You should try it sometime. Probably...
ya ya whatever pipi. You haven't got anywhere trading for yourself or for your masters, so hush.
  • #9,831
  • Aug 6, 2022 10:58pm Aug 6, 2022 10:58pm
Quoting OutThere
{quote} The prop firms don't trade.
Okay I get what you mean, you're talking about the traders.

But even if the traders have money, they might still want to be a "prop trader" for a sense of accomplishment. In my case I'll be trading my EA live with my own funds starting this week and I'm still very open to building business relationships with other traders to set up multiple income streams and also, why not, it's an EA, it's almost effortless.

Everyone has their reasons for doing things even though it won't make sense to everyone.
  • #9,832
  • Aug 6, 2022 11:07pm Aug 6, 2022 11:07pm
Quoting OutThere
Mental illness definition: People who trade extremely well but are still looking for someone to toss them money and lay a whole bunch of rules on them and exploit their skills. A few around here I see. Dudes/Dudetts, all you need is the market. Dah
-We are all allowed to have our own opinions about things. But I would seriously like to hear your opinion about how trading your own money is better than trading completely risk-free? For most people that lack reasonable capital, I fail to see how your comment applies here.

Quoting ohyeah
I don't think it's normal to charge commission on crypto.
-Crypto is tricky. Not only do some brokers have different lot size specifications, but volume/liquidity can be very low on cryptocurrency.

You also have the issue of exchange fees that have to be accounted for, which can be very high for cryptocurrency, especially if you are trading with leverage. It seems that many brokers make up their own spreads, since many exchanges do not have much in the way of spreads for larger currency pairs, but this serves as a way for them to cover their exchange fees (if not via spreads, then commissions, I suppose).

But that is assuming that they are actually even using the exchange as they claim to be. I have not seen any broker that offers reasonable crypto trading conditions, but I also would not expect them to be able to do so since there just isn't enough trading volume and liquidity available. Volatility is good, though, so you can trade without leverage and still make decent returns.
  • #9,833
  • Aug 6, 2022 11:16pm Aug 6, 2022 11:16pm
Quoting pipmaster77
{quote} Mental illness definition: One who would prefer to trade his/her own money as opposed to paying $1,000 for a $200K account with 10 % DD, which would be 20K, or approximately 20 times your money, and a side benefit you get the original 1K back. What rules? Don't lose 10%?Every firm I trade with allows me to trade however I wish, is there a loss restriction? Of course. It is still 20 times the fee, which is refunded. There is nothing better than trading completely risk free with none of your own money at risk. You should try it sometime. Probably...
again commonsense post from pipmaster , i can see your point on funding, you can have your cake and eat it seems some cant see it mate
people leave, but this thread will go on for ever
  • #9,834
  • Aug 6, 2022 11:21pm Aug 6, 2022 11:21pm
Quoting Nsak3y
{quote}-We are all allowed to have our own opinions about things. But I would seriously like to hear your opinion about how trading your own money is better than trading completely risk-free? For most people that lack reasonable capital, I fail to see how your comment applies here. {quote}-Crypto is tricky. Not only do some brokers have different lot size specifications, but volume/liquidity can be very low on cryptocurrency. You also have the issue of exchange fees that have to be accounted for, which can be very high for cryptocurrency, especially...
Yeah I don't trade or invest in crypto but whether or not I like it, crypto is here to stay. There are many utilities that have many practical applications. For instance Tornado Cash, banks will never be able to provide their users with this service for example. Take BTC/USD as another example, I mean, crypto, finite amount and impossible to print more, USD, countably infinite amount with shameless printing new ones. Common sense tells me that BTC/USD will inevitably skyrocket longterm as fiat loses value due to printing, not to mention other reasons.
  • #9,835
  • Aug 6, 2022 11:21pm Aug 6, 2022 11:21pm
[quote=Nsak3y;14091904]{quote}-We are all allowed to have our own opinions about things. But I would seriously like to hear your opinion about how trading your own money is better than trading completely risk-free? For most people that lack reasonable capital, I fail to see how your comment applies here.

He's simply here for the argument. He has no valid points.
  • #9,836
  • Aug 6, 2022 11:23pm Aug 6, 2022 11:23pm
Quoting OutThere
{quote} ya ya whatever pipi. You haven't got anywhere trading for yourself or for your masters, so hush.
Actually doing quite well. Thanks for stopping by.
  • #9,837
  • Aug 6, 2022 11:26pm Aug 6, 2022 11:26pm
Quoting pipmaster77
{quote}-We are all allowed to have our own opinions about things. But I would seriously like to hear your opinion about how trading your own money is better than trading completely risk-free? For most people that lack reasonable capital, I fail to see how your comment applies here. He's simply here for the argument. He has no valid points.
You have a point but from what I understand the prop firms pretty much set you up for failure in all ways possible to collect challenge fees, don't they?
  • #9,838
  • Aug 6, 2022 11:34pm Aug 6, 2022 11:34pm
Quoting ohyeah
{quote} You have a point but from what I understand the prop firms pretty much set you up for failure in all ways possible to collect challenge fees, don't they?
Not clear on what you mean by set you up for failure. The rules are pretty straight forward....hit x% in x amount of time without losing x%. Some "shady" firms may have some things to try to trip you up....don't use those firms. If you do some research in this thread, you will find clear and concise info on which firms to use.
  • #9,839
  • Aug 6, 2022 11:40pm Aug 6, 2022 11:40pm
Quoting pipmaster77
{quote} Not clear on what you mean by set you up for failure. The rules are pretty straight forward....hit x% in x amount of time without losing x%. Some "shady" firms may have some things to try to trip you up....don't use those firms. If you do some research in this thread, you will find clear and concise info on which firms to use.
What I mean is, they make the rules such that you have to be doing something extraordinary to pass. I don't know their requirements, who knows maybe I might qualify.

Which prop firms allow EAs to place trades and close trades?
  • #9,840
  • Aug 6, 2022 11:54pm Aug 6, 2022 11:54pm
[quote=pipmaster77;14091908]
Quoting Nsak3y
{quote}-We are all allowed to have our own opinions about things. But I would seriously like to hear your opinion about how trading your own money is better than trading completely risk-free? For most people that lack reasonable capital, I fail to see how your comment applies here. He's simply here for the argument. He has no valid points.
I've seen your trading. Yes, you have to trade risk free. lol
"People who trade extremely well", wasn't directed at you.
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