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prop firm new model - my trading journey 871 replies

Anyone trading with a Prop firm 2 replies

So I accepted a Prop Trading job in South Beach Miami 43 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting Boulder
{quote} Congrats!! all manual trades? What are you trading?
Yes all manual trading. And Bespoke has no consistency rules.
FXIFY getting slower. Almost 2 days now waiting for first withdrawal to process and start trading again account. Yesterday I filled form for withdrawal and still waiting.
I said it before and I will say it again... what is the point of having 300-600K in virtual/simulated funding at a small firm if a 5-10% gain on that funding will likely be denied? Maybe I missed something, but I have yet to see complaints of Bespoke & Funded engineer denying 4 figure payouts.

Everyone should clearly know by now exactly where 100% of the money is coming from.

Why are traders expecting to pull 10s of thousands out of these small firms with minimal web traffic compared to FTMO & MFF?

Make it make sense!
Quoting CableJ
I said it before and I will say it again... what is the point of having 300-600K in virtual/simulated funding at a small firm if a 5-10% gain on that funding will likely be denied? Maybe I missed something, but I have yet to see complaints of Bespoke & Funded engineer denying 4 figure payouts. Everyone should clearly know by now exactly where 100% of the money is coming from. Why are traders expecting to pull 10s of thousands out of these small firms with minimal web traffic compared to FTMO & MFF? Make it make sense!
There is an interesting attempt by prop firm owners to say that MFF Was so good cos they are scam. But then when you trade at their firms you get worse slippage, more commission and they openly say everything is now virtual.

Funded engineer has problems bespoke has problems these firms are banning people. MFFX are using a weird confidential informant excuse to ban people. These companies are not solvent in the sense where they can be passive in their bans.

Today I went through fundingpips website. There are so many rules there designed to make you lose. They will always be small because most of the big payouts at firms come from users with no stop loss. The only company that didn't have these rules was mff, even FTMO has a discretionary risk management rule.

If people think 0.1-0.5 pips slippage is worse than having a minute to add a stop loss to a trade in terms of making people lose, they are crazy. As we dive deeper and observe the actions of most firms not all, we can see just how bad the industry is and realize that they didn't take out the worst one.
Quoting Takisd
{quote} There is an interesting attempt by prop firm owners to say that MFF Was so good cos they are scam. But then when you trade at their firms you get worse slippage, more commission and they openly say everything is now virtual. Funded engineer has problems bespoke has problems these firms are banning people. MFFX are using a weird confidential informant excuse to ban people. These companies are not solvent in the sense where they can be passive in their bans. Today I went through fundingpips website. There are so many rules there designed to...
And in the meantime the real criminals are at work with MFF copy sites, because their is no-one at MFF to fight this online fraud I have found several when you google search my forex funds, so it's rampant criminal fraud impersonating them and stealing money. Where is the grand ole US Gov to protect us now?
Quoting Fagin
{quote} And in the meantime the real criminals are at work with MFF copy sites, because their is no-one at MFF to fight this online fraud I have found several when you google search my forex funds, so it's rampant criminal fraud impersonating them and stealing money. Where is the grand ole US Gov to protect us now?
The objective is not to protect consumers, it is to obtain money.

I am still pissed with my TFT slippage in normal hours. I dno why it triggered me so much when I knew it was going to happen. Nothing like a good 1.5 pips of slippage on a market order on eurusd 3 lots during europe with no news.
Quoting Takisd
{quote} The objective is not to protect consumers, it is to obtain money. I am still pissed with my TFT slippage in normal hours. I dno why it triggered me so much when I knew it was going to happen. Nothing like a good 1.5 pips of slippage on a market order on eurusd 3 lots during europe with no news.
TFT will be next and will have worse things that MFF was accused of
Anybody using FTUK??
Read post #1 !! Then read it again 10 more times before you ask.
Quoting Takisd
{quote} The objective is not to protect consumers, it is to obtain money. I am still pissed with my TFT slippage in normal hours. I dno why it triggered me so much when I knew it was going to happen. Nothing like a good 1.5 pips of slippage on a market order on eurusd 3 lots during europe with no news.
I'm trading an account with real money in it. Weird...
Quoting Dirac
Blue Guardian CEO discusses MFF: https://www.youtube.com/watch?v=fQWTddJQ0cc
Why do all these modern prop trading founders actually all have to look like teenage drug dealers?

Update:

Probably, if you look too serious and old you have no chance in this business from a marketing perspective? If you look around all these Discords and YouTube, you get the impression that 90% are between 16-20 years old who have never really worked in their lives.
Quoting RiskFighter
Anybody using FTUK??

bad customer service
PLAN YOUR RISK & REWARD BEFORE INVEST
Quoting lddd
{quote} Why do all these modern prop trading founders actually all have to look like teenage drug dealers? Update: Probably, if you look too serious and old you have no chance in this business from a marketing perspective? If you look around all these Discords and YouTube, you get the impression that 90% are between 16-20 years old who have never really worked in their lives.
Then one might wonder if its so far fetched to think the investors behind them handpick them for that purpose. Im guessing the veteran traders"older" are the true dangers to these prop firms. The cash cow gambler teens does seem to be the target. Then put a cool cocky teenage looking kid as forefront to market it. So the rest of the kids want to be cool too and thus invest their cash and gamble in the prop firms.
Whoever thinks that some teen manboy from nowhere can start a prop firm like that on his own without backing must live in a dream world. Shame we cannot get info about investors into these prop firms, since that would make it easier to determine which would be reliable ones apart from the old prop firms.
Quoting inversio
{quote} I don't think grid and DCA rules are fair , prop can banned martingale but should allow these 2, daily dd limit overall dd limit already there trade should have some room to trade freely. if they wnt they can add max lot size rules as well.
Exactly. The daily virtual DD and the overall virtual DD control the virtual risk. Every other rule is not there to control their virtual risk, it is there to deny your virtual payout. Fact.
Quoting Fagin
{quote} I'm trading an account with real money in it. Weird...
Doesn't feel as good....knowing if you blow the account or if a black swan event occurs, it's actually YOUR money you will have lost. I still cannot wrap my head around the few haters who pop in here saying these firms are bad for traders. Yes, the majority of the ones left certainly are, but MFF, at worst, was no worse than a "good" regulated broker.
Just requested a crypto payout from TFT. See what happens.
"Pride always comes before destruction...." -Proverbs 16:18
Quoting pipmaster77
{quote} Doesn't feel as good....knowing if you blow the account or if a black swan event occurs, it's actually YOUR money you will have lost. I still cannot wrap my head around the few haters who pop in here saying these firms are bad for traders. Yes, the majority of the ones left certainly are, but MFF, at worst, was no worse than a "good" regulated broker.
Agree, I'm waiting to see the outcome with MFF and not currently planning my future with any "props". I suspect the knee jerk reaction to change wordings and the prop model will need a rehash with the more legitimate firms putting a bit more thought into it than currently.
I don't know the numbers but "direct funding models" will likely go and if some outfits get an eye on them for washing money from certain countries then they'll get burned pretty quickly, so watch out for a smash n grab soon... Who is left might be a good thing long term?
Quoting CableJ
I said it before and I will say it again... what is the point of having 300-600K in virtual/simulated funding at a small firm if a 5-10% gain on that funding will likely be denied? Maybe I missed something, but I have yet to see complaints of Bespoke & Funded engineer denying 4 figure payouts. Everyone should clearly know by now exactly where 100% of the money is coming from. Why are traders expecting to pull 10s of thousands out of these small firms with minimal web traffic compared to FTMO & MFF? Make it make sense!
I would say, at this point, FTMO would be only one to max, then do 100K at like 10-15 other firms. Man, all of this "protection" from regualtors seems to make life harder, not better. But, hey, if they say they are protecting me, it must be true. Now, excuse me, I have an appointment to go get my 15th covid booster.
The futures prop side has way more rules across the board which makes them all less attractive. That being said, I have noticed that outside of having to navigate around the deel situation, the top 5 retail futures props have not skipped a beat since MFF... still promoting... no mass complaints of payment denials... no slippage complaints... no rushed scrabble to state virtual/simulated everywhere... no fear of impending CFTC action.
https://www.financemagnates.com/fore...fraud-traders/ Looks like MFF are speaking as best they can
Quoting Expo33
Just requested a crypto payout from TFT. See what happens.
Curious to see if you get one of those nice automatic messages saying it was rejected and asking to chose for an alternative withdraw method.

If not, be prepared to be sodomized in gas fees. Less than 5x to 7x the market gas fees it's a victory in that kingdom. Worse than them only TFF. Those should have a stealing license issued by some crypto authority.
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