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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

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Prop Firm Hub

Quoting Soros
{quote} which firms would you stick with in this moment just to e safe long term?
the5er
ftmo
Quoting Boulder
{quote} I don't understand how SEC can put hands on those prop firm business since we all trade the demo accounts. There are no real securities trading involved..
Well, for starters, surge just paid a settlement with money from their firm. So there starts the ties. I suspect until now the regulators didnt really understand whats going on but lets see, hope, pray, cross our fingers that nothing happens.
Quoting Takisd
{quote} Well, for starters, surge just paid a settlement with money from their firm. So there starts the ties. I suspect until now the regulators didnt really understand whats going on but lets see, hope, pray, cross our fingers that nothing happens.
The good news is they use 8cap. So, perhaps, they go after 8cap, or at minimum prevents 8cap from hosting accounts for the prop firms.
That still leaves the big 2 plus 3 others we can use if needed.
Actually, that could be a blessing in disguise, since EVERY new firm uses 8 cap.......there would be no new firms, no new scams and hopefully keep business as usual with the others.
As some have stated, if these firms have advance notice of these developments, could be why TheFundedTrader just added Think Markets??? Although, as large as they are, it really is time for their own solution.
Quoting pipmaster77
{quote} The good news is they use 8cap. So, perhaps, they go after 8cap, or at minimum prevents 8cap from hosting accounts for the prop firms. That still leaves the big 2 plus 3 others we can use if needed. Actually, that could be a blessing in disguise, since EVERY new firm uses 8 cap.......there would be no new firms, no new scams and hopefully keep business as usual with the others. As some have stated, if these firms have advance notice of these developments, could be why TheFundedTrader just added Think Markets??? Although, as large as they...
We may see Think Markets being the new 8crap ?

TFT already using them, as well as MFFx (and I'm not 100% sure but I think BeSpoke ?)
Quoting Takisd
The same people pimping blueforexfunds and firstclassforexfunds are now pimping nova-trading. If once, and twice isn't enough times to get scammed. Try third time.
Nova Funding are questionable. I passed single phase challenge. Traded my funded account profitably and on day 21 just I am about to qualify for payout they locked account do to breach of holding a trade over the weekend. It was a .02 lot on eurgbp with stop loss at break even, Pleanty of positive equity in the account as well. Also allowed me to place a trade on the open of 7/31/23 market Not impressed. Then when I woke up this morning they had locked my account and sent me an email, some 13 hrs into the trading day
Quoting pipmaster77
{quote} The good news is they use 8cap. So, perhaps, they go after 8cap, or at minimum prevents 8cap from hosting accounts for the prop firms. That still leaves the big 2 plus 3 others we can use if needed. Actually, that could be a blessing in disguise, since EVERY new firm uses 8 cap.......there would be no new firms, no new scams and hopefully keep business as usual with the others. As some have stated, if these firms have advance notice of these developments, could be why TheFundedTrader just added Think Markets??? Although, as large as they...
From all the youtube media i have consumed in my time of self immolation I can assure you that no one in that organization even knows what metatrader admin looks like.
Quoting LehmanBrotha
until you have been in a drawdown and experienced the depths of despair you never knew existed within you, you dont know what proper trading is
Mark Douglas' videos of trading in the zone really explained trading psychology so brilliantly. Seeing your cash disappearing right Infront of you brings out the worst emotions in you. Kids these days have a lot of access to training material which we didnt have when we were starting so they dont have to blow 1,000s of dollars to get profitable but losing still bring up the same emotions regardless.
Quoting Inception12
{quote} Mark Douglas' videos of trading in the zone really explained trading psychology so brilliantly. Seeing your cash disappearing right Infront of you brings out the worst emotions in you. Kids these days have a lot of access to training material which we didnt have when we were starting so they dont have to blow 1,000s of dollars to get profitable but losing still bring up the same emotions regardless.
My favorite book about trading ever written! Few decades of conditioning cannot erase hundreds of thousands of years of evolution. We still go through those emotions, it is all about managing them properly.
Quoting Boulder
{quote} I don't understand how SEC can put hands on those prop firm business since we all trade the demo accounts. There are no real securities trading involved..
Have you seen what has been happening in crypto vs. the SEC? They shoot first and ask questions later.
Quoting CableJ
{quote} Have you seen what has been happening in crypto vs. the SEC? They shoot first and ask questions later.
Same happened with poker
Quoting pipmaster77
{quote} and this is why I've stated for 3 years............ONLY use the proven, reliable ones.........the unknown, newer ones are going to bring unwanted attention. If we don't use them, they have no business, there is no attention. However, everyone need 1% less target and 5 more trading days and 2% more proflit split and no slippage and 0 spread, and, and ,and, and............. because all of those things MAKE YOU a better trader!!!! WELL HERE WE ARE. Now those of us actually making money may have it jeopardized...
The long term viability of the online props is starting to look more shaky. I plan to change my approach to more short term thinking than long term. I will split my total funding into 4... trade 25% @ a time at higher risk to 3-4% target & stop to lock in payout(s)... switch to next 25% to 3-4% target & stop... rinse and repeat then double back to 1st 25% for next 14d payout period. Blow the account @ higher risk?... only lose 25% of capital... replace with more evaluations. 25% In drawdown?... start next month with next 25% while simultaneously working to dig the other 25% in drawdown out the ditch. In a good month, I should be able to hit 4-6 payouts @ 3-4% each... dump that into the personal futures account where I can compound and think more long term.
Just realized that the average prop firm user doesnt know what leverage is how it works or how to calculate it. Scary.
Quoting pipmaster77
{quote} The good news is they use 8cap. So, perhaps, they go after 8cap, or at minimum prevents 8cap from hosting accounts for the prop firms. That still leaves the big 2 plus 3 others we can use if needed. Actually, that could be a blessing in disguise, since EVERY new firm uses 8 cap.......there would be no new firms, no new scams and hopefully keep business as usual with the others. As some have stated, if these firms have advance notice of these developments, could be why TheFundedTrader just added Think Markets??? Although, as large as they...
Still having no problem with 8cap.
Your problems must be caused by your trading style.
Quoting Takisd
I can't forsee a future without the SEC coming after US prop firms due to surge's involvement in this scamming. I just don't see how it will be ignored.
US GOV is reactive not proactive
Quoting Lrg
{quote} Seems like a good price, would like to give them a try for their fast payouts.. What are their commissions and spreads like on fx pairs and US30 and Gold.. Which one are you trading with one phase or two phase account..
I only trade eurusd and audjpy so i cant really give you accurate answers on us30 and gold

the spread on eurusd is around 1-3 on audjpy its 4-10. the commisions is higher than MFF which is $6 per lot. im trading two phase account with no addons on it.
if u want no timelimit, 90 percent profit split, etc etc etc. u have to pay extra.
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TDS is a beautiful thing Halbot
prop firms in US are entitled to request from PAC for their legal service spending to MAGA.
btw Lady G is having wet dream with a race-baiting bigot right now over the erection probe in Georgia.
Quoting Takisd
Just realized that the average prop firm user doesnt know what leverage is how it works or how to calculate it. Scary.
I saw Josh trying to explain to the confused souls on discord. Was painful to witness.
Trade with confidence, trade without fear.
This is how it's done. The rest of trades are a few trades of .02 size, exited same day.
Definitely not me.
They better had him on a live account that day.
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Appears to be just a game you have to learn.
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