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  • #17,181
  • Jun 28, 2023 1:29pm Jun 28, 2023 1:29pm
Quoting Takisd
So basically the no time limit firm have hidden rules that basically means you can't really trade how you want to ya? I was going to test a few strategies to prove some points but after what you guys said about bespoke and what i read about myfundedfx, FTMO/ MFF and 30 days still wins. Anyone know what TFT's no time limit rules are going to be like?
and MFF is actually 60 and FTMO 45, with extensions.
  • #17,182
  • Jun 28, 2023 1:32pm Jun 28, 2023 1:32pm
Isn't it really going to piss off those of us making money when regulation shuts the entire space down becuase we decided to use a couple of scam firms who promised us rainbows and unicorns? But, but, but.......no time limit, but 95% payout, but 50% off all month, but we have no slippage, but, but, but................
  • #17,183
  • Jun 28, 2023 1:36pm Jun 28, 2023 1:36pm
Quoting pipmaster77
Isn't it really going to piss off those of us making money when regulation shuts the entire space down becuase we decided to use a couple of scam firms who promised us rainbows and unicorns? But, but, but.......no time limit, but 95% payout, but 50% off all month, but we have no slippage, but, but, but................
I have been configuring an AI specifically for no time limit firms in python Discretionary banning isn't a measurable unfortunately. TFT slippage is too unpredictable. Variables too much.
  • #17,184
  • Jun 28, 2023 1:38pm Jun 28, 2023 1:38pm
Quoting pipmaster77
Isn't it really going to piss off those of us making money when regulation shuts the entire space down becuase we decided to use a couple of scam firms who promised us rainbows and unicorns? But, but, but.......no time limit, but 95% payout, but 50% off all month, but we have no slippage, but, but, but................
Regulation won't be able to shut down the entire space, props will just move off shore. As far as I know, MT5 licenses will be available for off shore entities.
  • #17,185
  • Jun 28, 2023 1:39pm Jun 28, 2023 1:39pm
Quoting Takisd
So basically the no time limit firm have hidden rules that basically means you can't really trade how you want to ya? I was going to test a few strategies to prove some points but after what you guys said about bespoke and what i read about myfundedfx, FTMO/ MFF and 30 days still wins. Anyone know what TFT's no time limit rules are going to be like?
If you're going to try one of the new props, just for the sake of amusement, I would recommend (but not reimburse you ) FXIFY.

A lot of people praising them now. And they basically say that they have very simple rules, no hassles, backed by a financial group (FXPIG or something) and payout+refund 24h after the first trading (30 days or biweekly after that one, depending if you pay the addon of biweekly). Also unlimited if you pay for that.
  • #17,186
  • Jun 28, 2023 1:46pm Jun 28, 2023 1:46pm
Quoting pipmaster77
{quote} and MFF is actually 60 and FTMO 45, with extensions.
Exactly, 30 to 60 day is enough. I don't understand why so much marketing about unlimited time as most challenges gets failed within purchased week and daily Drawdown.
  • #17,187
  • Jun 28, 2023 1:48pm Jun 28, 2023 1:48pm
Quoting Capablanca
{quote} Bespoke issues in telegram groups are about grid and martingale/soft martingale trading, which are not defined in their site. It's pretty much arbitrary, the CEO never gave a definitive definition so they can try to screw. As a rule of thumb, from what I read from him, don't open more than 2 positions in a loss. And the second must be lower lots than the first. Adding positions in profit he says that it's safe but Vitore was denied a payout accused of grid trading. Not sure if he can add something here. And martingale is not just doubling...
Total bullshit. One of my strats is weekly pivot trading. These positions are split into 4-5 small trades with a total risk of about 0.1% each, First one is smallest position as this has the widest stop. Not only do I EXPECT it to move against me and catch my other small trades, I HOPE it moves against me to pick up the entire "batch". So this particular firm would tell me, with my 0.5% risk accross the ENTIRE poisition that I cannot trade like that, however, I could open up 1 single trade and risk 4.0 %???? Are they out of their fucking minds?????
  • #17,188
  • Jun 28, 2023 1:51pm Jun 28, 2023 1:51pm
Quoting pipmaster77
Everyone's goal should be 600K with MFF and 400K with FTMO. Maybe E8 after that. If everyone is on the same page, these other firms do not exist.....they have no business. This benefits everyone long term.....no scams, no bubbles, no regulation, the big 2 keep paying, etc, etc, etc If there are no more MT4 licenses for sale, there WILL NEVER BE A NEW FIRM with it's own server. All new firms will use 8crap or some other shitty broker. I still have a couple of accounts with TFTP and TFF, but as stated prior, I will not be adding to them.
my goal once they slightly accommodate the rules to fulfill my strategy requirements
  • #17,189
  • Jun 28, 2023 1:52pm Jun 28, 2023 1:52pm
Quoting sampat
{quote} Exactly, 30 to 60 day is enough. I don't understand why so much marketing about unlimited time as most challenges gets failed within purchased week and daily Drawdown.
Right, it's been stated many times, most violate because of daily DD, not even total DD. So we are dealing with a target audience of folks not even smart enough to use the total DD.....hmmmm I have 12% DD but let me just blow this up with the 5% today.........and unlimited is going to help this same customer base?????
  • #17,190
  • Jun 28, 2023 1:55pm Jun 28, 2023 1:55pm
Quoting Capablanca
{quote} If you're going to try one of the new props, just for the sake of amusement, I would recommend (but not reimburse you ) FXIFY. A lot of people praising them now. And they basically say that they have very simple rules, no hassles, backed by a financial group (FXPIG or something) and payout+refund 24h after the first trading (30 days or biweekly after that one, depending if you pay the addon of biweekly). Also unlimited if you pay for that.
old FXPIG i would have used them. New FXPIG after sale, no thanks, the owner is a boston technologies guy who enjoys b books and manipulation like all boston technologies folks.
  • #17,191
  • Jun 28, 2023 1:56pm Jun 28, 2023 1:56pm
Hello folks" My Evaluation Phase 2 almost done in one day
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  • #17,192
  • Jun 28, 2023 2:05pm Jun 28, 2023 2:05pm
Quoting pipmaster77
This benefits everyone long term.....no scams, no bubbles, no regulation, the big 2 keep paying, etc, etc, etc
-If I may play devil's advocate here, it may be difficult to argue with diversification, healthy competition and the fact that some of these newer firms have brought new money into this space by their social media reach etc..

Couple that with the fact that we will likely see regulation, regardless, and, the fact that even the top firms can eventually fail.

Not to say that some form of consolidation might be good. Same with regulation. Ideally, we would want the remote prop space to keep working and to continue to be available, even if that looks similar to what we see with offshore brokers.

Per sampat:
Quoting sampat
Also let this industry be without watchdogs all good firms pivot themselves and garbage will be weeded out automatically.
-I agree with this statement. As we see with offshore brokers, those that do stupid things are called-out for it and traders will blacklist them. The offshore broker system seems to work, even in the absence of regulatory involvement. Honestly, this is how things should be, probably.

At the end of the day, there is a strong demand (and arguably, a need) for the remote prop firm. And similar to offshore brokers, the more options that we have, the better, even if that means that most traders are only going with the top 2 to 5.
  • #17,193
  • Jun 28, 2023 2:05pm Jun 28, 2023 2:05pm
Quoting Capablanca
This is an important point that I think it's worth to be discussed in this topic. Do you guys have experience in charge back props with some credit/debit card ... So I'm not so sure if Paypal is a safe option any longer (and most of the firms don't accept it anyway).
-The problem with charge-backs is that they can be easily abused, so the end result will be that all options will eventually become unavailable. After that, all payment processors will reject prop-related purchases and everything will default to crypto, which will only bring more scrutiny to cryptocurrency as it continues to be blamed for enabling all sorts of criminal activity and fraud etc..

That being said, I have never initiated a charge-back with a firm. For those that have, maybe consider yourself lucky as it may ultimately become a thing of the past (assuming the remote prop model lasts that long). I also suspect that any charge-back with a firm will likely get you blacklisted (potentially across multiple firms, based on what we have seen recently).
  • #17,194
  • Jun 28, 2023 2:05pm Jun 28, 2023 2:05pm
Quoting Capablanca
FXIFY. payout+refund 24h after the first trading
-Offering such an early payout is very risky, as it will likely skew the metrics considerably. It will be very interesting to see if they can sustain this model.
  • #17,195
  • Jun 28, 2023 3:16pm Jun 28, 2023 3:16pm
Quoting Capablanca
{quote} If you're going to try one of the new props, just for the sake of amusement, I would recommend (but not reimburse you ) FXIFY. A lot of people praising them now. And they basically say that they have very simple rules, no hassles, backed by a financial group (FXPIG or something) and payout+refund 24h after the first trading (30 days or biweekly after that one, depending if you pay the addon of biweekly). Also unlimited if you pay for that.
If somebody is paying in 24 hours means they have deep pocket and there for long run. Even if they are scammers they wont go away soon.
  • #17,196
  • Jun 28, 2023 3:25pm Jun 28, 2023 3:25pm
No prop firm is directly A booking any individual traders no matter how long or how good their trading is. The risk is way too much for the small 20% profit split that the firm would make off him every month.

Am honestly surprised that only the funding talent has imploded in the last few years. After its demise, I thought many more would follow suit. We've been predicting a crash is coming for more than 2 years now but new firms just keep popping up every other. Maybe the prop industry will be just like the sports betting one, you would think big payouts will take many out of business but somehow the losers just outpace all the winners in perpetuity.
  • #17,197
  • Jun 28, 2023 3:28pm Jun 28, 2023 3:28pm
Quoting Inception12
No prop firm is directly A booking any individual traders no matter how long or how good their trading is. The risk is way too much for the small 20% profit split that the firm would make off him every month. Am honestly surprised that only the funding talent has imploded in the last few years. After its demise, I thought many more would follow suit. We've been predicting a crash is coming for more than 2 years now but new firms just keep popping up every other. Maybe the prop industry will be just like the sports betting one, you would think big...
They are A booking trader after some threshold like 5% or 10% and those profits can be easily recovered with signups.
  • #17,198
  • Jun 28, 2023 3:32pm Jun 28, 2023 3:32pm
Quoting sampat
If somebody is paying in 24 hours means they have deep pocket and there for long run. Even if they are scammers they wont go away soon.
-On the other hand, perhaps they took a big gamble that is, so far, paying off. Because a firm could easily use the buy-in fees from new and current challenges to pay for it, but it's super risky.

A firm that has a challenge model that is non-fundable, or, added options that are non-refundable, could potentially do this. However, the issue remains that having a faster, initial payout will likely skew the metrics and could thereby make or break a firm once the new-firm-hype starts to settle.
  • #17,199
  • Jun 28, 2023 3:43pm Jun 28, 2023 3:43pm
Quoting Inception12
No prop firm is directly A booking any individual traders no matter how long or how good their trading is. The risk is way too much for the small 20% profit split that the firm would make off him every month.
-One would think so. But we also have to remember that the funded account is not really 100k, but rather something like 10k, with actually only 5k at risk in most cases. Funding 5k with failed challenge fees does not seem too unreasonable, especially if the trader has shown consistency over several months.

That being said, I still think that you are probably right. And even in cases where firms are supposedly A-booking, maybe what they are really doing is just putting traders on live accounts and just calling it A-booking.

Maybe using some kind of AI/aggregate system where the best traders are consolidated into a pool that provides stronger signals that are based on multiple sources is perhaps feasible. But you would need a large pool of traders and many months of data, I suspect, not to mention a good system to run it all, which would likely need to be proprietary (expensive) and require lots of time for testing etc..
  • #17,200
  • Jun 28, 2023 4:01pm Jun 28, 2023 4:01pm
Quoting Takisd
{quote} old FXPIG i would have used them. New FXPIG after sale, no thanks, the owner is a boston technologies guy who enjoys b books and manipulation like all boston technologies folks.
Well, to whom was were considering BeSpoke and MFFx I don't think you would be worse off
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