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Anyone trading with a Prop firm 6 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
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Prop Firm Hub

Quoting Takisd
The new ascendx broker is the one deifunded used .. do with that as you will
There was a guy in twitter claiming against RealFundsTrader not paying because of some hidden news rule and I'm 99% sure that it was also taurex.
Quoting pipmaster77
it is a legit strategy and the way I've traded forex for years.......
-Same. Unless I am scalping, I expect that small retracements may occur before moving in the intended direction, and this allows me to obtain better entries while reducing slippage.

I have found that flexibility in trading is better than keeping things too rigid. Like you, I have traded this way for years, without problem.

I think, many ways to skin a cat. What works for some, may not work for others. To each their own.
One warning about prop firms.

I never used USA servers for trading. My home and VPS is in another country.

But as you saw in my latest posts I was warned that I used USA servers.

It turned out that it is only for places I use investor passwords.

Account analyzing and publishing places. Or similar.

If you use third party places with investor password revoke them. If you have lots of places that you use investor password, change your investor password it is the cleanest option.

And if you trust other people with investor password - be warned that they can login from USA. Whether people who you had given or your investor password or it is too much circulated.
Quoting _BBKing_
{quote} hey, just a question about topstep do you get payouts via wise? I wonder what’s the best option since I’m in Italy and foreign wire transfers require a lot of days… but wise has not really a good reviews in trustpilot with lots of people claiming their accounts been closed with no reason
It's true. There's an abnormal number of claims about Wise in offshore talks forum, mainly regarding freezing accounts during months and asking for proof of funds and / or closing the account without explanation, asking people to move funds from there in 30 days.
I never had an issue with them, though.

Nevertheless, I avoid wise for props unless they are able to pay in USD with IBAN. For example, in my first Alpha payout I had a lot of troubles with Wise because Alpha was requesting some ACH details and despite I tried 3 times, the payment was refused by Wise for 3 times (with the argument that there was some ismatch that I could not find out). I then used Revolut and it was very smooth.
Quoting _BBKing_
{quote} hey, just a question about topstep do you get payouts via wise? I wonder what’s the best option since I’m in Italy and foreign wire transfers require a lot of days… but wise has not really a good reviews in trustpilot with lots of people claiming their accounts been closed with no reason
I only use WIRE direct to my bank account. Yes takes extra days but safe enough for me. Usually i prefer crypto if its available. Btw i Haven't reach payout yet at topstep instead i am in drawdown.
Extreme gut feeling trader
ETF changed their policy looks like Futures funding companies are bitten by Forex prop firms

ETF Policy Transparency
Written by Elite Trader Funding
Updated on May 16, 2024

Dear Traders,
Our mission is to move traders to Live Elite accounts and we closely observe and audit the trading activity of all traders, especially Elite Sim-Funded accounts once a payout has been requested. At Elite Trader Funding (ETF), we are committed to transparency and fostering a community of highly proficient and consistently profitable traders. Below, we invite you to read the trading behavior that is expected of Elite Sim-Funded traders. These policies will go into effect on May 20th, 2024.
Updated Policies

  1. To receive credit for an Active Trading day, you need to meet two criteria. These criteria help ensure that your trading days meaningfully contribute to the profitability of the Elite Sim-Funded account. This will be accurately presented in your dashboard. If these objectives are not met, you simply continue trading until you achieve them.

    1. A minimum of two-hundred ($200) dollars in realized profit is required.
    2. Realized profits on any given day must equal at least 23% of the best Active Trading day P&L.




  2. The safety net (account max drawdown + $100) must be maintained for each and every Elite Sim-Funded payout request. Realized profits within the safety net cannot be withdrawn from payout cycles one through three.
  3. Trading practices such as dollar-cost averaging into losing positions, high-frequency trading, or any form of erratic trading across several days are prohibited.
  4. All Elite Sim-Funded traders must execute at least one trade per calendar week. If you are unable to trade in a given week, please inform ETF’s customer service team. Failure to meet the weekly trade requirement, without prior notification or arrangement, may result in the closure of your account(s) and void any payouts due to you.
  5. Elite Sim-Funded traders must actively trade the required number of Active Trading days per payout cycle and maintain consistent trading behavior. If an Elite Sim-Funded trader's payout request is denied and/or delayed during an audit three times due to non-compliance, it will result in account closure. We seek to partner with dedicated traders, but continual non-compliance is a waste of valuable resources and hinders our ability to evaluate and promote Elite Sim-Funded traders to Live Elite.
  6. All payouts for Elite Sim-Funded Traders are approved daily beginning at 3 pm EST and will be processed on Wednesdays. Live Elite payouts will continue to be processed daily.

This is becoming tiring, like the 6th challenge refund in place of a funded account from various companies.
No breached rule, just ended my 2 phases challenge in 3 days .
So if you hesitate please avoid Funded Engineers....
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I used to be indecisive but now I'm not so sure...
Reading rules isn't really my forte so I have a question about a 50K TopStep combine I started today.

I made $1700 total on multiple trades thinking the 50% rule was per trade and not per day so would I now have to make $3401 of overall profit to satisfy this rule?

And if that's the case then I'd be better off intentionally losing $201 before the end of the day so that I would only need to make $1501 in the future to secure the PA account. I mean why force myself to make $1701 more profit when I would only need to make $1501. Am I missing something here?
Pride always comes before destruction.... -Proverbs 16:18
Quoting Filipo1
This is becoming tiring, like the 6th challenge refund in place of a funded account from various companies. No breached rule, just ended my 2 phases challenge in 3 days . So if you hesitate please avoid Funded Engineers.... {image}
Traded large lots? Anyway, you may have dodged the bullet here with them. Aren't they having problems with payouts?

Which other firms have you been rejected from so far?
Quoting Expo33
Reading rules isn't really my forte so I have a question about a 50K TopStep combine I started today. I made $1700 total on multiple trades thinking the 50% rule was per trade and not per day so would I now have to make $3401 of overall profit to satisfy this rule? And if that's the case then I'd be better off intentionally losing $201 before the end of the day so that I would only need to make $1501 in the future to secure the PA account. I mean why force myself to make $1701 more profit when I would only need to make $1501. Am I missing something...
Yes it is kind of consistency rule. So dont make more than 1500$ on a day to follow 50% daily rule.
Quoting sampat
{quote} Yes it is kind of consistency rule. So dont make more than 1500$ on a day to follow 50% daily rule.
So I'll just lose $201 by end of day to thwart the consistency rule.

Take that TURDstep! Consider yourself outsmarted.

Expo strikes again!
Pride always comes before destruction.... -Proverbs 16:18
Quoting deroty
One warning about prop firms. I never used USA servers for trading. My home and VPS is in another country. But as you saw in my latest posts I was warned that I used USA servers. It turned out that it is only for places I use investor passwords. Account analyzing and publishing places. Or similar. If you use third party places with investor password revoke them. If you have lots of places that you use investor password, change your investor password it is the cleanest option. And if you trust other people with investor password - be warned that...
It's RIDICULOUS that an investor password login from another country like USA would get an account banned. Just ridiculous.
Quoting Expo33
{quote} So I'll just lose $201 by end of day to thwart the consistency rule. Take that TURDstep! Consider yourself outsmarted. Expo strikes again!
This too is retarded.
Quoting AaronPriest
{quote} This too is retarded.
The rule? Or my scheme?
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} The rule? Or my scheme?
Haha, no, not you--the idea that you are essentially punished for being too successful and must purposely lose to maintain the status quo. How liberal and anti-capital. LOL! But I get it... you want capitalism, use your own money. Yadda, yadda. ;-)
Quoting Expo33
{quote} So I'll just lose $201 by end of day to thwart the consistency rule. Take that TURDstep! Consider yourself outsmarted. Expo strikes again!
Good for you realized just before the end of the day. Same thing happened to my combine as well and i had to pull 1k more to satisfy them.
Extreme gut feeling trader
Current Topstep XFA situation first time tried GOLD futures and didn't realised its has different contract sizing from DOW. 1mini = 1$ gold move = 100 bucks. So i followed the same 3 contract on it as i do on dow. As usual gold loves to kick me in the b***s. Literally lost the 95% of drawdown.
Dow comes to the rescue and Now Climbing back up.

1. Now 1600$ in drawdown on each XFA
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Extreme gut feeling trader
Quoting Capablanca
{quote} It's true. There's an abnormal number of claims about Wise in offshore talks forum, mainly regarding freezing accounts during months and asking for proof of funds and / or closing the account without explanation, asking people to move funds from there in 30 days. I never had an issue with them, though. Nevertheless, I avoid wise for props unless they are able to pay in USD with IBAN. For example, in my first Alpha payout I had a lot of troubles with Wise because Alpha was requesting some ACH details and despite I tried 3 times, the payment...
yes indeed Wise doesn’t really seem to be safe!
I never trusted much these “virtual” banks or whatever they are.
yesterday I was looking into it, and noticed how many had issues with their accounts and that scares me enough.
Maybe it’s just a very small % of people in trouble and maybe the reason is behind some not very clear transactions…. Who knows…. As always the truth is in the midway.
problem is that international wire transfers requires a lot of days… and Topstep doesn’t provide payouts in cryptos or any other way.
will have to get used to that and maybe ask for some wise and some wire transfer
Yesterday was the past
  • Post #36,659
  • Quote
  • Edited May 17, 2024 1:19am May 16, 2024 3:33pm | Edited May 17, 2024 1:19am
Update from alpha capital

Scenario
6th May requested payout 7th May my payout is flagged
i redo KYC and got email wait 2-5 business day, 14may i emailed payment team it said need 24-48 hours payment process
17May i got another email need to wait 12-24 hours they have received my email need to pass to senior payment team to resolve payout

What going on Alpha,
is anyone who know i can help report this?
or spread social media? please
Quoting Expo33
{quote} So I'll just lose $201 by end of day to thwart the consistency rule. Take that TURDstep! Consider yourself outsmarted. Expo strikes again!
no.
you just have to get a total of further 1700$ profits
no need to lose intentionally.

I did 50% in one day and the following day set my target at exactly further 50%

I also noticed the size rules is valid only on express and live accounts, while in the combine you can trade full size.
if I was full size (5 contracts) I would have got 5k the first day and 5k the following.
lol
Yesterday was the past
18 traders viewing now, 2 are members:
Expo33
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ShepherdL