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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

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  • Post #22,741
  • Quote
  • Sep 24, 2023 3:38pm Sep 24, 2023 3:38pm
  •  Takisd
  • Joined Dec 2005 | Status: Com Member = Scammer | 3,632 Posts
Quoting Markula
Disliked
{quote} I would love to but for me an island nation is always subject to more powerful forces whereas a big country like Egypt can't be bullied as easily.
Ignored
If Egypt is the place for you, by all means. I love egyptian people so why not.
 
 
  • Post #22,742
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  • Sep 24, 2023 3:39pm Sep 24, 2023 3:39pm
  •  Takisd
  • Joined Dec 2005 | Status: Com Member = Scammer | 3,632 Posts
Quoting DeltaCapital
Disliked
{quote} Probably CFTC agents are searching for next targets ehehe
Ignored
Its the three lady attorneys chasing MFF with many tabs open hoping to find easier targets.
 
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  • Post #22,743
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  • Sep 24, 2023 4:00pm Sep 24, 2023 4:00pm
  •  jimmy777
  • | Joined May 2019 | Status: Kaizen | 12 Posts
Quoting DeltaCapital
Disliked
This thread is on fire {image}
Ignored
I've always been one of those who read this thread (few years) without commenting, heck I barely do elsewhere in the factory, though I highly value the input here..

Can only speak for myself of course.
The trend is your friend, until it's exhausted
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  • Post #22,744
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  • Sep 24, 2023 4:23pm Sep 24, 2023 4:23pm
  •  pipmaster77
  • Joined May 2016 | Status: Member | 3,521 Posts | Online Now
Quoting Expo33
Disliked
{quote} Ironically I still play online poker. Just withdrew from America's Cardroom. Requested Bitcoin. Received it in my Kraken wallet within 2 hours. Converted to US Dollars and Kraken wired it to my bank account by the next morning. And yet it takes an act of Congress to get a payout from The Funded Flinstones. Revolutionizing the industry
Ignored
Yes, me too. I play there and Ignition and Global Poker. So true, easier to get paid from a poker site.
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  • Post #22,745
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  • Edited 4:50pm Sep 24, 2023 4:30pm | Edited 4:50pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting pipmaster77
Disliked
{quote} Yes, me too. I play there and Ignition and Global Poker. So true, easier to get paid from a poker site.
Ignored
I'm guessing that's because there is actually 'real' money in the pot.....

Less can be said with our "funded" accounts

I've come to the conclusion that online, dare I say retail prop firms, don't want you to make money, no matter how they wash it up with pretty annotations and narratives. They serve one purpose, and one purpose only - their own P&L.

Edit: This wont stop me using them, or attempting to make money with them. But ultimately our 'profits' are their cost of sales (commercially, everyone wants to reduce COS as it affects margins / bottom line. Call me sceptical, that's ok )
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
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  • Post #22,746
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  • Sep 24, 2023 4:53pm Sep 24, 2023 4:53pm
  •  TrAndy1
  • Joined Feb 2022 | Status: Hedge Fund Trader | 1,809 Posts
Quoting jezzode
Disliked
{quote} I'm guessing that's because there is actually 'real' money in the pot..... Less can be said with our "funded" accounts I've come to the conclusion that online, dare I say retail prop firms, don't want you to make money, no matter how they wash it up with pretty annotations and narratives. They serve one purpose, and one purpose only - their own P&L. Edit: This wont stop me using them, or attempting to make money with them. But ultimately our 'profits' are their cost of sales (commercially, everyone wants to reduce COS as it affects...
Ignored
It is not about that they do not want. It is about the fact of the 90/90/90 rule that most trader loose and profitable traders turn to be loosers after short period of time when funded. That is the sad truth. So yes they are all b-booking and generating most income from taking the other side. Not they want to but needed to because of reality.
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  • Post #22,747
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  • Sep 24, 2023 5:04pm Sep 24, 2023 5:04pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting TrAndy1
Disliked
{quote} It is not about that they do not want. It is about the fact of the 90/90/90 rule that most trader loose and profitable traders turn to be loosers after short period of time when funded. That is the sad truth. So yes they are all b-booking and generating most income from taking the other side. Not they want to but needed to because of reality.
Ignored
Absolutely - You hit the nail on the head with "they are all b-booking" - god forbid they get caught with their pants down.

Also, i'm not qualified in brokering, but does b-booking everyone not make you a broker as you have discretion and LPs - this is where shit started to hit the fan with MFF, amongst other allegations?
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
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  • Post #22,748
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  • Sep 24, 2023 5:11pm Sep 24, 2023 5:11pm
  •  RiskFighter
  • Joined Jun 2017 | Status: Member | 783 Posts
Quoting TrAndy1
Disliked
{quote} It is not about that they do not want. It is about the fact of the 90/90/90 rule that most trader loose and profitable traders turn to be loosers after short period of time when funded. That is the sad truth. So yes they are all b-booking and generating most income from taking the other side. Not they want to but needed to because of reality.
Ignored
Please can someone explain to me what is B-Booking and what is the 90/90/90 rule?
Read post #1 !! Then read it again 10 more times before you ask.
1
 
  • Post #22,749
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  • Sep 24, 2023 5:12pm Sep 24, 2023 5:12pm
  •  montygoldy
  • Joined May 2017 | Status: Intermediate Trader | 2,550 Posts
Quoting Expo33
Disliked
{quote} So after 3 days I just got an email from The Funded Flinstones rejecting my Crypto payout request. I'm glad they let me put in my wallet address and wait 3 days for nothing. So I had to request a Wise (or stupid) withdrawal. I'm assuming they use the email from my account but they never asked, just says pending. I'm sure I'll get an email later this week asking for some extra info. Who knows. The good news is Angelo is on vacation. It's not like there is a payout crisis to work on. And a third email just this week reminding me to give them...
Ignored
I can never takes these GOOFY named (e.g FLINTSTONES) firms seriously or trustworthy.
Extreme gut feeling trader
Road to Million All Time Return: -97.1%
 
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  • Post #22,750
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  • Sep 24, 2023 5:21pm Sep 24, 2023 5:21pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting RiskFighter
Disliked
{quote} Please can someone explain to me what is B-Booking and what is the 90/90/90 rule?
Ignored
B-booking: Basically where trades dont hit the underlying market, the 'broker' holds the trade and off-sets aginst it's own client pool. For example you are long 1 lot, another client is short 1 lot - so why put both in the market and pay spread as the broker. It's a win/win for the broker under normal circumstances, typically normal practice. The issue with prop firms, is that they b-book not based on this concept, but rather because they know most will lose, so they don't have your best interest (they rely on the 90/90/90 rule). Not a good look...

90/90/90: 90% of traders lose 90% of thier account in 90 days
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
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  • Post #22,751
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  • Sep 24, 2023 5:23pm Sep 24, 2023 5:23pm
  •  RiskFighter
  • Joined Jun 2017 | Status: Member | 783 Posts
Quoting jezzode
Disliked
{quote} B-booking: Basically where trades dont hit the underlying market, the 'broker' holds the trade and off-sets aginst it's own client pool 90/90/90: 90% of traders lose 90% of thier account in 90 days
Ignored
OK. Thank you!!
Read post #1 !! Then read it again 10 more times before you ask.
1
 
  • Post #22,752
  • Quote
  • Sep 24, 2023 5:28pm Sep 24, 2023 5:28pm
  •  Takisd
  • Joined Dec 2005 | Status: Com Member = Scammer | 3,632 Posts
:rolls_eyes:
1
 
  • Post #22,753
  • Quote
  • Sep 24, 2023 5:29pm Sep 24, 2023 5:29pm
  •  RiskFighter
  • Joined Jun 2017 | Status: Member | 783 Posts
Look at this. This is not a Prop, but a broker account. They are stealing trades every day at market opening. This is very common. I forgot to close this trade at the end of the day, and the result is a steel.

You have to click on the picture to be able to se the red trade line.
Attached Image (click to enlarge)
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Read post #1 !! Then read it again 10 more times before you ask.
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  • Post #22,754
  • Quote
  • Sep 24, 2023 5:33pm Sep 24, 2023 5:33pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting Takisd
Disliked
:rolls_eyes:
Ignored
Indeed: But you cant deny these prop firms are commercial vehicles. It's nothing more complicated than that. I'll stop now before I ruffle some feathers.
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
1
 
  • Post #22,755
  • Quote
  • Sep 24, 2023 5:40pm Sep 24, 2023 5:40pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting RiskFighter
Disliked
Look at this. This is not a Prop, but a broker account. They are stealing trades every day at market opening. This is very common. I forgot to close this trade at the end of the day, and the result is a steel. You have to click on the picture to be able to se the red trade line. {image}
Ignored
Look like open spreads? Also if that's live that's going to be huge spreads at this time - usually very normal.

edit: it does seem quite excessive though...
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
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  • Post #22,756
  • Quote
  • Sep 24, 2023 5:51pm Sep 24, 2023 5:51pm
  •  Nsak3y
  • Joined May 2020 | Status: Classified | 1,739 Posts
Rolling eyes because someone is playing a part, presumably.
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  • Post #22,757
  • Quote
  • Sep 24, 2023 5:53pm Sep 24, 2023 5:53pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting Nsak3y
Disliked
Rolling eyes because someone is playing a part, presumably.
Ignored
I'm probs being dumb - but I can't read between the lines on this! wdym
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
1
 
  • Post #22,758
  • Quote
  • Sep 24, 2023 5:56pm Sep 24, 2023 5:56pm
  •  Nsak3y
  • Joined May 2020 | Status: Classified | 1,739 Posts
I assumed that he is rolling eyes because RiskFighter is playing dumb. Maybe I am wrong about it.
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  • Post #22,759
  • Quote
  • Sep 24, 2023 5:58pm Sep 24, 2023 5:58pm
  •  jezzode
  • | Joined Jun 2012 | Status: Biased Member | 94 Posts
Quoting Nsak3y
Disliked
I assumed that he is rolling eyes because RiskFighter is playing dumb. Maybe I am wrong about it.
Ignored
Cheers - don't often pop into these forums anymore.
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
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  • Post #22,760
  • Quote
  • Sep 24, 2023 6:01pm Sep 24, 2023 6:01pm
  •  Takisd
  • Joined Dec 2005 | Status: Com Member = Scammer | 3,632 Posts
Quoting RiskFighter
Disliked
Look at this. This is not a Prop, but a broker account. They are stealing trades every day at market opening. This is very common. I forgot to close this trade at the end of the day, and the result is a steel. You have to click on the picture to be able to se the red trade line. {image}
Ignored
Are you for real?
 
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