Disliked{quote}-Well, if we are being truly objective and honest about it, the daily draw-down did serve that purpose. If the funds were coming originally from the pockets of the firm, then a different argument could be made, but the truth is, they weren't, and if you violated the daily, then you lost the account, even if the overall balance was net-positive. Since there was no real capital originating from the firm in order to fund the account, the daily draw-down did not actually serve the purpose of protecting the fund's capital, it served the purpose...Ignored
I do wonder if they introduced no time limits having sniffed this was on the horizon? We said all along it couldn't have been easily explained why you claim to be recruiting but employ conditions not real to life and then reverse those said conditions if you were lucky to get the account.
But all this squawking by people is endemic of the world we live in today isn't it? They want it no risk, no cost, and believe they should be protected by all the powers of the land and still complain when they lose.
On balance prop firms provide the only chance for some to escape the rat race and change their circumstances. The ones calling it out probably don't know how to make money from the markets or are hobby traders hiding from the wife.
MFF paid traders, i profited from them and knew the rules and conditions. I knew (or suspected) when I was been misled by commissions and b booking type conditions but I still made money from it so I have no complaints. If you could trade they paid out. Simple as that.
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There is also often SL hunting connected to roll over spreads by props and brokers. The whole RO spread widening is a rip off created by the LP's (banks).
