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  • #34,581
  • Apr 10, 2024 9:15am Apr 10, 2024 9:15am
Quoting PropDude1234
Licensing / regulation is the only realistic way to raise the barriers of entry.
-Since props are not regulated in the same way as brokers, then licensing seems like the more realistic approach. But even with licensing, criteria must first be defined in order to discern eligibility. I'm not quite sure what sort of requirements, short of those that are financial in nature, could be used here.

Pay-to-play seems to be the popular go-to. Perhaps having a minimum 1M insurance fund that sits in escrow could present a nice barrier-to-entry in order to weed out scammers.
  • #34,582
  • Apr 10, 2024 9:17am Apr 10, 2024 9:17am
Quoting PropDude1234
Licensing / regulation is the only realistic way to raise the barriers of entry.
Yea raising the barrier will lead to failure of industry. Look at what happened to Forex prop firms.
The more you regulate more shitty price will become less participants. Look at FTMO once considered as free style wrestlers has become caged parrot with all possible gambling rules. Do you think they like those rules (no but they have to as there is less registration)
The problem with regulation is they dont do things moderately. Over regulation will lead to make things more crappy look at forex industry in US, Canada. Does it makes trader profitable? (I bet there will be same loss making traders percentage wise 10-20 years back without regulation)
  • #34,583
  • Apr 10, 2024 9:25am Apr 10, 2024 9:25am
Quoting sampat
{quote} What will be rejection criteria. One cannot randomly reject prop firms. In order to reject new ones they need to come up with criteria like financial statements etc. I doubt anyone except APEX will be ready to give. Also why they will reduce their own income?
In order to start a prop firm, one should need to provide a business model and capital requirements which display the ability to pay.....this is where the forex prop "tech providers" caused all of the problems. You are correct, they just took the money and provided the business in a box solution.....it didn't work out FOR ANYONE in the long run.....the tech providers, the prop firms, the trader....so perhaps, I know this is a strectch, the providers in the futures space will learn for everything that was done wrong in the forex space? Like I said, it's a stretch, 2 reasons.......stupidity and greed.
  • #34,584
  • Edited 9:48am Apr 10, 2024 9:27am | Edited 9:48am
Update time good day today....
Secured 2 more funded accounts - Accounts count reached 18

But then i was feeling amazing purchased 2 more eval. Price was like 2900$ in profit then reversed and a small spike down(TOOK ME OUT) before hitting the tp.

GOSH I have already taken 94 Evals in like 1 week. Too much Yolo'ing
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Extreme gut feeling trader
  • #34,585
  • Apr 10, 2024 9:28am Apr 10, 2024 9:28am
Quoting HengkiTjen
FE new trading rules regarding news trading If you place trade 1 hours before news but during news hit your profit doesn't count I think prop firm is crumble now ! {image}
Yes, next thing will be....can't trade at the European or NY open, can only trade Asia between 7-8 pm eastern lol.
  • #34,586
  • Apr 10, 2024 9:30am Apr 10, 2024 9:30am
Quoting sampat
{quote} Yea raising the barrier will lead to failure of industry. Look at what happened to Forex prop firms. The more you regulate more shitty price will become less participants. Look at FTMO once considered as free style wrestlers has become caged parrot with all possible gambling rules. Do you think they like those rules (no but they have to as there is less registration) The problem with regulation is they dont do things moderately. Over regulation will lead to make things more crappy look at forex industry in US, Canada. Does it makes trader...
Forex prop firms failed for the exact opposite reason......NO BARRIER of entry.
  • #34,587
  • Apr 10, 2024 9:31am Apr 10, 2024 9:31am
ALso i was buying evals from propfirmmatch code. I have gained enough points to get a free eval. Probably will use it for 5%ers account.
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Extreme gut feeling trader
  • #34,588
  • Apr 10, 2024 9:36am Apr 10, 2024 9:36am
Quoting montygoldy
Update time good day today.... Secured 2 more funded accounts - Accounts count reached 18 But then i was feeling amazing purchased 2 more eval. Price was like 2900$ in profit then reversed and a small spike down(TOOK ME OUT) before hitting the tp. GOSH I have already take 94 Evals in like 1 week. Too much Yolo'ing {image} {image}
So, you are in between $4500-5000....94 *33, plus 18* PA fee.....first payout if you stop at 18 accounts (which I know you will not) will be $36K......anyone wish to dispute a 700% ROI in what 11-12 days?
  • #34,589
  • Apr 10, 2024 9:37am Apr 10, 2024 9:37am
Quoting montygoldy
ALso i was buying evals from propfirmmatch code. I have gained enough points to get a free eval. Probably will use it for 5%ers account. {image}
You're a freaking prop firm animal.
  • #34,590
  • Apr 10, 2024 9:38am Apr 10, 2024 9:38am
Quoting pipmaster77
{quote} So, you are in between $4500-5000....94 *33, plus 18* PA fee.....first payout if you stop at 18 accounts (which I know you will not) will be $36K......anyone wish to dispute a 700% ROI in what 11-12 days?
i think it will take more... starting date for these accounts are different ... today for 5 accounts i have reached threshold (no more trailing) thats a sigh of relief.
Extreme gut feeling trader
  • #34,591
  • Apr 10, 2024 9:40am Apr 10, 2024 9:40am
Quoting montygoldy
{quote} i think it will take more... starting date for these accounts are different ... today for 5 accounts i have reached threshold (no more trailing) thats a sigh of relief.
Yes, I was just using 1 day to pass and 10 trading days on the PA for the math......OK, it may take 15-20 days
  • #34,592
  • Apr 10, 2024 9:41am Apr 10, 2024 9:41am
Quoting pipmaster77
{quote} You're a freaking prop firm animal.
yep that 25k myflashfunding payout coming in handy. Still have spare 12k for evals . For propfirmmatch there is a thing i purchased 200k fundingtraders (35% off) got only 250 points but each apex eval which cost 30$ gives 130 points. 130 x 94 evals my math not so good
Extreme gut feeling trader
  • #34,593
  • Apr 10, 2024 9:43am Apr 10, 2024 9:43am
Quoting montygoldy
Too much Yolo'ing {image} {image}
A mere fraction of what others are doing...

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Trade with confidence, trade without fear.
  • #34,594
  • Apr 10, 2024 9:47am Apr 10, 2024 9:47am
Quoting Cryptosurf
{quote} A mere fraction of what others are doing... {image}
. Grandmastersssss
Extreme gut feeling trader
  • #34,595
  • Apr 10, 2024 10:01am Apr 10, 2024 10:01am
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  • #34,596
  • Edited 12:34pm Apr 10, 2024 12:01pm | Edited 12:34pm
Quoting HengkiTjen
FE new trading rules regarding news trading If you place trade 1 hours before news but during news hit your profit doesn't count I think prop firm is crumble now ! {image}
He's talking about +/- 2 minutes,. Where did you see the 1 hour ?
Edit: Oh, I see what you mean bu 1 hour before. Sorry about that.
  • #34,597
  • Apr 10, 2024 12:05pm Apr 10, 2024 12:05pm
its +- 2 min. And if you are in a trade during news that has a remote chance of closing during the spike, you're a moron.
  • #34,598
  • Apr 10, 2024 12:17pm Apr 10, 2024 12:17pm
Quoting Takisd
its +- 2 min. And if you are in a trade during news that has a remote chance of closing during the spike, you're a moron.
How can a trade which could have been opened several hours before the news event have anything to do with news trading? It's quite common to get your TP or trailing stop to hit when markets move. The rule is stupid if your intention is to prevent news trading as it can be easily prevented by other type of rules. This is once again one of those rules made to trap traders.
  • #34,599
  • Apr 10, 2024 12:33pm Apr 10, 2024 12:33pm
I wonder if it is not possible for props to execute the trades just after 2 minutes, at whatever price is after those 2 minutes, intead of violating account (or reducing profits).
This way they would avoid SLs and TPs being hit during that time span and accounts from being failed.

And people would know that if they don't want to be "naked" during those 2 minutes they should have a proper size during news or risking to lose the account after 2 minutes.
  • #34,600
  • Apr 10, 2024 12:51pm Apr 10, 2024 12:51pm
Quoting Capablanca
I wonder if it is not possible for props to execute the trades just after 2 minutes, at whatever price is after those 2 minutes, intead of violating account (or reducing profits). This way they would avoid SLs and TPs being hit during that time span and accounts from being failed. And people would know that if they don't want to be "naked" during those 2 minutes they should have a proper size during news or risking to lose the account after 2 minutes.
Yes, it's called slippage MFF was good at that. Once the news traders get some very bad fills during the news, they will stop. Besides there are ways to trade news profitably outside their 4 minute window. The rule is actually quite retarded.
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