Prop Firm Hub | Page 710 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 31 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
Exit Attachments

Prop Firm Hub

  • #14,181
  • Mar 1, 2023 5:07pm Mar 1, 2023 5:07pm
Quoting Capablanca
It's clearly damage control. What I see here is something that could be frightening.
-When TFF first started out, the founder of the company was very aggressive with damage control when a trader claimed that he was flagged for closing out trades too early. This happened before they switched servers.

Based on the simple correspondence above, we can never really know what the real situation is.

Generally speaking, if a firm decides that terminating accounts is the best course of action when different IP's are logged (stupid, but their choice), then they should at least give the trader a chance to correct (or explain) the issue, or, explain to the trader, in detail, why such an executive decision was being made.

Not everyone has a static IP assigned to them by their ISP and may not even know what that means. You also have traders that may travel, switch between desktops/laptops/mobile, use VPS etc.. On the other hand, any justifiable proof of known perpetrators, blacklisted IP's, MAC addresses etc.. could all be faked. So it will likely always come down to your word against theirs.

Unfortunately, to the public, this just looks like another scheme to kick profitable traders. As such, traders should ALWAYS notify a firm if they are going to be trading from a different device/IP, and get approval (proof) in writing beforehand. Or, trade with a firm that will not play these silly games.
  • #14,182
  • Mar 1, 2023 5:41pm Mar 1, 2023 5:41pm
Quoting Capablanca
{quote} I like to test props that are around for a while (many months at least) and that we saw already a lot of payout proofs. Thus, I tested Funded Next and they pay. So far I received 3 payouts + refund. Payouts were easy to request in the site and payments were done the day after, even being weekends. On that part (payout) they were one of the best experiences. But.... The problem with them is when you have to sort out a problem. I had an issue with my dashboard not updating and contacted my account manger. He didn't reply once, twice, three...
Many thanks for this excellent feedback. I always felt something strange with them (when I tested a little the chat support) and what you are saying confirms my first feeling.
  • #14,183
  • Mar 1, 2023 6:42pm Mar 1, 2023 6:42pm
Quoting pipmaster77
{quote} Yes, definitely a bullish pattern with that morning star on 2/26 Good job.
Well you can't have a morning star doji without some revenge trading
Pride always comes before destruction.... -Proverbs 16:18
  • #14,184
  • Mar 1, 2023 11:49pm Mar 1, 2023 11:49pm
Quoting TraderTero
{quote} One big risk with E8 is that they are located in US. You cannot offer any kind of investment services in USA without proper licensing.
Good point and that gets MFF, E8 and TFT in the same boat
  • #14,185
  • Mar 2, 2023 12:25am Mar 2, 2023 12:25am
Quoting Nsak3y
{quote}-When TFF first started out, the founder of the company was very aggressive with damage control when a trader claimed that he was flagged for closing out trades too early. This happened before they switched servers. Based on the simple correspondence above, we can never really know what the real situation is. Generally speaking, if a firm decides that terminating accounts is the best course of action when different IP's are logged (stupid, but their choice), then they should at least give the trader a chance to correct (or explain) the issue,...
im been traveling this month and i have place couples trade as well, i asking FTMO and TFTP they said no problem as long as using same devices lets see what happen to my account
  • #14,186
  • Mar 2, 2023 4:26am Mar 2, 2023 4:26am
Morning all,

Long time no post on FF. Hopefully this is the right thread for an issue I'm having. I recently passed 10% evaluation with FTMO without to much of an issue (12 trading days, very low drawdown). Now in verification I'm -6.8% with almost all losers and just 1 winner in about 12 trades (over 2 weeks). I'm 99% certain this is psychological, probably over confidence and euphoria after passing evaluation, combined with the notion of "5% in 60 days - pff! Hold my beer..." . Also a couple of weeks ago I think the markets were a bit different and long US equities (about 60% of my winners) were easier.

For now I've stopped completely, still paper trading on TV and back on the simulator (FT5) while I reset myself. I've got until mid-April to turn it around which I'm confident I can do. Just wondering if anyone else has had a similar situation with passing eval then bombing verification. This tells me my psychology isn't steady because if it were there would be no performance difference in the different stages.

I'd be very thankful if anyone who has been through or knows of anyone else who has could share any specifics on their 'great reset' if they turned it around
Anything can happen.
  • #14,187
  • Mar 2, 2023 7:04am Mar 2, 2023 7:04am
Quoting ddinnov
Morning all, Long time no post on FF. Hopefully this is the right thread for an issue I'm having. I recently passed 10% evaluation with FTMO without to much of an issue (12 trading days, very low drawdown). Now in verification I'm -6.8% with almost all losers and just 1 winner in about 12 trades (over 2 weeks). I'm 99% certain this is psychological, probably over confidence and euphoria after passing evaluation, combined with the notion of "5% in 60 days - pff! Hold my beer..." . Also a couple of weeks ago I think the markets were a bit different...

Looks like emotions

Read "Mental game of trading " by Jared Tandler, start journaling like he says or do it your own way and you will go thru this.
I believe everyone should read this book.
  • #14,188
  • Edited 8:13am Mar 2, 2023 7:59am | Edited 8:13am
Quoting ddinnov
Morning all, Long time no post on FF. Hopefully this is the right thread for an issue I'm having. I recently passed 10% evaluation with FTMO without to much of an issue (12 trading days, very low drawdown). Now in verification I'm -6.8% with almost all losers and just 1 winner in about 12 trades (over 2 weeks). I'm 99% certain this is psychological, probably over confidence and euphoria after passing evaluation, combined with the notion of "5% in 60 days - pff! Hold my beer..." . Also a couple of weeks ago I think the markets were a bit different...
Hi

A few Drills helped me to become consistent. Might not work for everyone!

Drill No1
Dial down the Lot Size so it becomes negligible. My Background is Futures. For this Drill I would trade 1x S&P 500 Micro Contract which is equivalent to 5 USD per point in the underlying. Enter Trades as usual, only difference being no automatic Stop Loss enabled. My SL is 3pts. When hit I would Execute/Exit immediately. No thinking/delay. Helped me become less married to the SL. Removed the fear of losing.

Drill No2
During the Trading Session I would flip a coin 20x times and note down the result on a scrap of paper, e.g. H, T, T, T, H, etc. Helped me become less married to individual outcomes.

Drill No3
Had cold showers every morning. Full cold for a minimum of 60x seconds. Helped me to follow my Trading Plan. Rewires the brain into realising it can perform functions that it previously found difficult.

And the obvious. Strip out Grade B and C Setups from the Playbook. Grade A Setups only. Far fewer Trades taken. Teaches patience. I found this the most difficult change to make. But one day everything clicked and I never bothered placing sub-standard/Low Probability Trades again. I also dialled down the Profit Target to RR of 1:3, and dialled up the Size.
  • #14,189
  • Mar 2, 2023 9:07am Mar 2, 2023 9:07am
Quoting TraderTero
{quote} https://www.mql5.com/en/market/produ...ng006%3aequity
thank you I will go to check it now
in holiday till end of November
  • #14,190
  • Mar 2, 2023 9:08am Mar 2, 2023 9:08am
https://heldental.com/

I found them in MotiveWave page, who are them? anyone knows them?
in holiday till end of November
  • #14,191
  • Mar 2, 2023 9:12am Mar 2, 2023 9:12am
Quoting Nsak3y
{quote}-Hmm. Curious if this is due to regulatory reasons, or risk management? If regulatory, I have to wonder who could be next. If risk management, I have to wonder if it is due to cheater/scammer reasoning. It is never a good thing to see an entire country get blacklisted, because whether or not the reasoning is due to regulation or risk management, you will always have collateral damage in the form of many good traders losing out on opportunities to improve their situation.
Its regulatory. RBI was blocking payments.

The people using deel survive it because they use deel not direct payments.
  • #14,192
  • Mar 2, 2023 9:16am Mar 2, 2023 9:16am
Quoting Capablanca
{quote} Good point and that gets MFF, E8 and TFT in the same boat
MFF is canadian.
  • #14,193
  • Mar 2, 2023 9:29am Mar 2, 2023 9:29am
Quoting Capablanca
{quote} Good point and that gets MFF, E8 and TFT in the same boat
Disregard what that clown has to say. He’s been trying to promote his own flimsy prop firm.

Plus he’s dead wrong about licensing requirements needed for US prop firms.

Remember, it’s not a new concept. TopStep and others have been doing it for over a decade in the futures market. You’re considered as a contract employee working on behalf of the company.
Trade with confidence, trade without fear.
  • #14,194
  • Mar 2, 2023 9:43am Mar 2, 2023 9:43am
Quoting Takisd
Its regulatory. RBI was blocking payments.
-Thanks. It is very unfortunate that there are still systems in place that prohibit or deter regular people from being able to improve their situation in life.

In terms of fraud and other protective measures, governments should let people just learn their own lessons and stop trying to overreach when it comes to our own money. If something illegal his happening within their jurisdiction, fine, but otherwise, stay out of it. Just my opinion.
  • #14,195
  • Mar 2, 2023 9:53am Mar 2, 2023 9:53am
Quoting ddinnov
This tells me my psychology isn't steady because if it were there would be no performance difference in the different stages. I'd be very thankful if anyone who has been through or knows of anyone else who has could share any specifics on their 'great reset' if they turned it around
-I think that this may vary, depending on who you ask. A few things that you can try, though:

1. Start with a much smaller account size.
2. Start with very small position sizes and slowly build up as you gain confidence.
3. Use play money (i.e. 'free' money that you might get from a tax return, birthday, Christmas bonus etc.).

Simply put, you want to try to disconnect yourself from the money emotionally, while also allowing yourself opportunities to build up confidence.

If you are still having trouble, take your time and do not rush it. Develop your mindset before committing more money to any challenges.
  • #14,196
  • Mar 2, 2023 10:11am Mar 2, 2023 10:11am
Quoting Nsak3y
{quote}-Thanks. It is very unfortunate that there are still systems in place that prohibit or deter regular people from being able to improve their situation in life. In terms of fraud and other protective measures, governments should let people just learn their own lessons and stop trying to overreach when it comes to our own money. If something illegal his happening within their jurisdiction, fine, but otherwise, stay out of it. Just my opinion.
Bottom line......if the government benefits monetarily, it is fine.........casinos, lotteries are the easiest examples. They don't give two shits if you lose your life savings in Vegas. However, let me earn money from something I've developed a skill and an edge over the years.....nope, not allowed.
  • #14,197
  • Mar 2, 2023 10:26am Mar 2, 2023 10:26am
Don't worry. We'll all be living in Belize by then if it comes to it! Be an interesting bar
  • #14,198
  • Edited 11:17am Mar 2, 2023 10:28am | Edited 11:17am
EDIT: Post removed. Talking with TWE now. Will update with their response, or, apply my original comments, depending on what they say.
  • #14,199
  • Mar 2, 2023 11:00am Mar 2, 2023 11:00am
Quoting Cryptosurf
{quote} Disregard what that clown has to say. He’s been trying to promote his own flimsy prop firm. Plus he’s dead wrong about licensing requirements needed for US prop firms. Remember, it’s not a new concept. TopStep and others have been doing it for over a decade in the futures market. You’re considered as a contract employee working on behalf of the company.
First of all, I don't have a prop firm and I'm not promoting any. However, I have been in the forex broker business over 10 years and know the US financial markets and regulation quite well. CFTC will take down US prob firms sooner or later and they have several options for doing so. See for example https://fxnewsgroup.com/forex-news/r...-ponzi-scheme/

It would be much safer to run this type of operations from off shore where many big brokers have already moved.
  • #14,200
  • Mar 2, 2023 11:15am Mar 2, 2023 11:15am
Quoting Cryptosurf
{quote} Disregard what that clown has to say. He’s been trying to promote his own flimsy prop firm. Plus he’s dead wrong about licensing requirements needed for US prop firms. Remember, it’s not a new concept. TopStep and others have been doing it for over a decade in the futures market. You’re considered as a contract employee working on behalf of the company.
I don't think it's non sense thinking that US (or Europe) is a bad place for a prop to be.

We've all seen areas where regulation came and just destroyed the business, despite they were operating for long years.
It happened with poker in US in 2011, overnight, in something known as Black Friday among the players.
Or something that came up in Europe that prevents investors from putting their money in wide used ETFs like SPY or TLT.
And now we also see the fight against crypto world with US leading and Europe following like a dog.
74 traders viewing now