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Anyone trading with a Prop firm 2 replies

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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Around news time or even at open of US session these brokers are disgusting. My broker platform just freezes. Normally and especially when I have opened a trade in wrong direction!
Anyone else tried evaluation with Blue Guardian Capital? They are using Purple Trading broker - also not very good broker.

I failed the challenge - they only allow max 4% loss which is easy to breach
LOL at slippage whiners.

The market had 0 liquidity yesterday with the surprise inflation result, doesn't matter what you were trading, it had no price behind it.
Quoting Takisd
LOL at slippage whiners. The market had 0 liquidity yesterday with the surprise inflation result, doesn't matter what you were trading, it had no price behind it.
διαβασες καλα τι εγραψα? απλα ειδες slipage και πεταξες εξυπναδα?
I have a question regarding news trading. I usually close out all my positions before any red news event that affect the pair I trade. For example, if I have a trade open on UJ, I will close the trade 10 minutes before to avoid slippage. However, I know most US red news will affect other pairs and create wild moves but I'm not 100% certain how other red news events from other countries effect other non-related pairs. Australia has two red news events coming out at 9:30 pm EST. Just curious if traders with funded accounts avoid trading at all during all red news event or during certain events. I've done some backtesting and leaning towards not trading at all during red news that affect the 8 major forex pairs. Is this a good strategy or am I being too cautious.

Thanks
Quoting coastie0194
I have a question regarding news trading. I usually close out all my positions before any red news event that affect the pair I trade. For example, if I have a trade open on UJ, I will close the trade 10 minutes before to avoid slippage. However, I know most US red news will affect other pairs and create wild moves but I'm not 100% certain how other red news events from other countries effect other non-related pairs. Australia has two red news events coming out at 9:30 pm EST. Just curious if traders with funded accounts avoid trading at all during...
USD red news affect all majors. Then all the other ones affect only the currency. There might be some EUR-GBP correlation when news comes out, so you need to care of that relation of EURUSD to GBPUSD. It is good to stay away from news if you do daytrading or scalping. On swing trading it may depend, but usually a larger swing trade can overcome most red news (maybe except FOMC), because it is already backtested so. News trading is not stable over time I found out with backtesting them. So I would not trade the medium or high impact news specifically. So it is good to be cautious around FOMC, NFP and CPI data (US). On other news there is only a smaller reaction usually. All in all it depends more on your trading style. For scalping avoid all red news that affect your currency. For daytrading only the three ones mentioned. And for swing trading you do not have to close and reopen your trades, most times. It may be bit different on FOMC events. But that is all. Not more to say.
Quoting TrAndy1
{quote} USD red news affect all majors. Then all the other ones affect only the currency. There might be some EUR-GBP correlation when news comes out, so you need to care of that relation of EURUSD to GBPUSD. It is good to stay away from news if you do daytrading or scalping. On swing trading it may depend, but usually a larger swing trade can overcome most red news (maybe except FOMC), because it is already backtested so. News trading is not stable over time I found out with backtesting them. So I would not trade the medium or high impact news...
TrAndy- Thanks for the detailed explanation, it really cleared up some confusion I had.
Quoting nikosk0
{quote} διαβασες καλα τι εγραψα? απλα ειδες slipage και πεταξες εξυπναδα?

Sorry re, I would have read it but I was taking a shower.

Your statement is missing all the other trades you had opened etc, i dont know if you intentionally hid them or whether you are being honest, but you knew well in advance (by being a trader and paying attention economic calendar) that CPI was coming out and it would be smart to close the trade.

They don't manipulate anything, nor does FTMO or e8 or trueforexfunds or whoever. Every major news announcement we go through this in this thread and the answer is still the same, stay out of the market during news events as they are low liquidity events. Depending on which firm you use, some of them use simple plugin filters others use orderbook logic but all of them have news time changes to the price feed and its always in the negative.

Your screenshot shows a trade that was closed inside the spike and a trade value that does not conclude the total drawdown so theres so much missing information from your post.
Quoting Takisd
{quote} Sorry re, I would have read it but I was taking a shower. Your statement is missing all the other trades you had opened etc, i dont know if you intentionally hid them or whether you are being honest, but you knew well in advance (by being a trader and paying attention economic calendar) that CPI was coming out and it would be smart to close the trade. They don't manipulate anything, nor does FTMO or e8 or trueforexfunds or whoever. Every major news announcement we go through this in this thread and the answer is still the same, stay out...
or just use low leverage. I held a short AUDUSD on FTMO and MFF through CPI for +84 pips. I don't intentionally trade the news. That trade was simply due to my other rules being met. Many times the news just drives the price where I expected it anyway. Point being, if I was wrong, it would've been just like any other trade. I closed it 6 pips shy of my TP, but I am 100% confident if I had left it I would have picked up 10-15 pips POSITIVE slippage. It does work both ways everyone.
Quoting Takisd
{quote} Sorry re, I would have read it but I was taking a shower. Your statement is missing all the other trades you had opened etc, i dont know if you intentionally hid them or whether you are being honest, but you knew well in advance (by being a trader and paying attention economic calendar) that CPI was coming out and it would be smart to close the trade. They don't manipulate anything, nor does FTMO or e8 or trueforexfunds or whoever. Every major news announcement we go through this in this thread and the answer is still the same, stay out...
it's ok.

i just talked to yavuz, it wasnt about this trade. (it was the only open trade)
it was about 5 other trades i had open at the same time during a period of no news that cause the drawdown. (it still doesnt make sence)
i am waiting for his response because i still dont see the drawdown

below the trades that were open that caused the violation. (i just noticed 1 of the trades is not within the time of the violation of 12:30?? something is very wrong here)

as i said, i am still waiting his responce because with no news and such little movement i just cant see the violation in any case ( i am way to carefull to be taken out like an amateur)
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Quoting nikosk0
{quote} it's ok. i just talked to yavuz, it wasnt about this trade. (it was the only open trade) it was about 5 other trades i had open at the same time during a period of no news that cause the drawdown. (it still doesnt make sence) i am waiting for his response because i still dont see the drawdown below the trades that were open that caused the violation. (i just noticed 1 of the trades is not within the time of the violation of 12:30?? something is very wrong here) as i said, i am still waiting his responce because with no news and such little...
You must know that it is all automated and in their system. To prove them that is something wrong with their quotation system is pretty difficult and time consuming task. Maybe time is better spent elsewhere. And you must know there is no real liquidity or own market in most of minors. Maybe you concentrate more trading majors FX? So the bid ask you see on minors is built indirectly over arbitrage opportunities if they would exist when someone enters an order and not because it is own market. So the market is slowlier here and it takes more time to fill an order because it takes some intervention from other market players. There is no real own liquidity here.
Have seen e8 capital for the last 3 days in challenge phase 1.

Have seen true forex funds too.

E8 Capital mt4 ( The funded trader) is much much better.
Intraday only.
Quoting navk
Have seen e8 capital for the last 3 days in challenge phase 1. Have seen true forex funds too. E8 Capital mt4 ( The funded trader) is much much better.
What exactly makes you prefer E8 over TFF? I ask because I'm with both, copy the exact same trades from my ICM demo account to both TFF and E8 and TFF always generates more profits than E8. But I only trade us500 which might be the reason...?
Even a broken clock is right twice a day
Quoting Vitore
{quote} What exactly makes you prefer E8 over TFF? I ask because I'm with both, copy the exact same trades from my ICM demo account to both TFF and E8 and TFF always generates more profits than E8. But I only trade us500 which might be the reason...?
e8 capital mt4 price fil is excellent.

TFF has issues especially during red news events.

Try to open position within 2 min window, then you will notice.

Some time TFF getting a fil is impossible.
Intraday only.
My aim is big in The funded Trader Program. 1 to 1.5 million to earn with.

Purchased 100k evaluation 3 days ago.

Until now 3.3 % done against 8 % in phase 1.

MFF accounts doing well too.

TFF not too good.
Intraday only.
Quoting navk
{quote}Try to open position within 2 min window, then you will notice. Some time TFF getting a fil is impossible.
Ok, then maybe their us500 liquidity is better then other instruments. I usually cannot see how the trades are executed as I don't use MT4. I use cTrader with IC Markets and all trades get copied automatically to various MT4 prop firm accounts via Duplikium. I only check if the trades exist and then how they resulted. And purely from the results perspective, TFF is always better then E8. But it is possible that E8 has better execution and the results are still worse due to their higher trading costs
Even a broken clock is right twice a day
Quoting Vitore
{quote} Ok, then maybe their us500 liquidity is better then other instruments. I usually cannot see how the trades are executed as I don't use MT4. I use cTrader with IC Markets and all trades get copied automatically to various MT4 prop firm accounts via Duplikium. I only check if the trades exist and then how they resulted. And purely from the results perspective, TFF is always better then E8. But it is possible that E8 has better execution and the results are still worse due to their higher trading costs
copy trading from ic markets c trader to Prop firm mt4 allowed by prop firms ?

Not sure.
Intraday only.
Quoting navk
{quote} copy trading from ic markets c trader to Prop firm mt4 allowed by prop firms ? Not sure.
Of course it is allowed to copy from ICM cTrader to other prop firms accounts inclusive MT4/5, except copy trading is not allowed at all like on TheFundedTraderProgram.
Quoting TrAndy1
{quote} Of course it is allowed to copy from ICM cTrader to other prop firms accounts inclusive MT4/5, except copy trading is not allowed at all like on TheFundedTraderProgram.
Royal challenge copy trading from other prop firms allowed I guess.

And can you clarify if i can copy trade from MFF Challenge / funded to royal challenge ?

Royal challenge accept. But making mff as master, will mff accept ?
Intraday only.
Quoting navk
{quote} Royal challenge copy trading from other prop firms allowed I guess. And can you clarify if i can copy trade from MFF Challenge / funded to royal challenge ? Royal challenge accept. But making mff as master, will mff accept ?
Of course. If Royal from TFTP allows copy trading then can you copy from whatever you want. If you want a second opinion to be real sure you can also ask chat service.
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