DislikedI haven't read this entire thread, but the impression I get is that these things are all scams. The definition of proprietary trading is a firm using it's own money to earn a profit on directional bets. It's weird that all of these prop firms are focused on day trading when the prevailing wisdom is that day trading is a suckers game, and there are exactly zero institutionally managed investment funds (professional firms the profit from directional bets) that that engage in practice. Looking at the rules for these things it is evident from the math...Ignored
in not the smallest intention social prop are there to help trader, to make traders better or to let traders win (maybe 20 % of the incoming fee money they allow to give out to winners) .... the main goal is to make players believe they can win with higher Chance then in real trading, that they are real money manager (many like call this by only manage demo account with paper money, you will often see this crazy people in youtube), make marketing like there are very big money to win and to make people addicted to buy challenges again. they have same math advantage like a casino, anything will be done inside such a company like in a casino, even more crazy because they dont have any licenses or supervising because of demo accounts. no gamling taxes, no advanced rules... just people bring you money to play a game with strict rules to take the fee (casino style). so same like a casino they are maximum there to make you a great time, but they dont scam... people who trade(= play in this prop) should know that they are pushed to lose there... same like people who play should know in casino.
so of course any little break of rule you lose, they will even push all what is possible that you come in situation to break the rules. to easy game. when real accounts can create great traders, demo account can create traders, prop accounts are only there to destroy traders best behaviour and make them bad traders (in average) to win more. ist so easy, always its so easy. when people often think something is complicated, they dont understand this topic and should learn more about, simple easy rule.
and then we have some people finding out how to count cards in casino (have you ever thought about why they allow the possibility to count cards?? they could so easy avoid by reshuffle after some hands by using many decks -> there is a simple reason for this same like for prop), this people you simple are to sucessful by doing it you dont allow to play in casino any more (problem solved). but allow the idea for the people they could by theory win, ... thats a big trick in marketing.
same you do in prop, allow the idea for the people they can win big and use this prop to get better...... some will when they are not to successful... when they are they get pushed out.... just use this people for the marketing and kick them out when to sucessfull use it....
i could talk endless about this, it is not first time casinos are copied to different market and will not be last.
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