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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 Markula
{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.
If Egypt is the place for you, by all means. I love egyptian people so why not.
Quoting DeltaCapital
{quote} Probably CFTC agents are searching for next targets ehehe
Its the three lady attorneys chasing MFF with many tabs open hoping to find easier targets.
Quoting DeltaCapital
This thread is on fire {image}
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
Quoting Expo33
{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
Yes, me too. I play there and Ignition and Global Poker. So true, easier to get paid from a poker site.
Quoting pipmaster77
{quote} Yes, me too. I play there and Ignition and Global Poker. So true, easier to get paid from a poker site.
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
Quoting jezzode
{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...
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.
Quoting TrAndy1
{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.
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
Quoting TrAndy1
{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.
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.
Quoting Expo33
{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...
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%
Quoting RiskFighter
{quote} Please can someone explain to me what is B-Booking and what is the 90/90/90 rule?
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
Quoting jezzode
{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
OK. Thank you!!
Read post #1 !! Then read it again 10 more times before you ask.
:rolls_eyes:
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.
Quoting Takisd
:rolls_eyes:
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
Quoting RiskFighter
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}
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
Rolling eyes because someone is playing a part, presumably.
Quoting Nsak3y
Rolling eyes because someone is playing a part, presumably.
I'm probs being dumb - but I can't read between the lines on this! wdym
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
I assumed that he is rolling eyes because RiskFighter is playing dumb. Maybe I am wrong about it.
Quoting Nsak3y
I assumed that he is rolling eyes because RiskFighter is playing dumb. Maybe I am wrong about it.
Cheers - don't often pop into these forums anymore.
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
Quoting RiskFighter
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}
Are you for real?
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