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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 Capablanca
{quote} When we will see a prop coming with it's own platform, instead of the established ones like Rithmic, etc., then we may suspect that something can be cooked there. Alpha is about to launch futures, I think it's this week. We will see what kind of platform they use, if a known one or a proprietary one.
Rithmic is primarily a feed used by various platforms. They do have their own platform rTrader, but their bread and butter is the feed.

TopstepX is a platform develop by TopStep. I’m not sure which feed they use. Either CQG or Rithmic.

If a platform is found to be “cooking” the feed then they could permanently lose access to futures data. CME and regulators would step in.
Trade with confidence, trade without fear.
Quoting Capablanca
{quote} I'm not technical good in this stuff but if companies like IQFeed are providing futures feed for multiple platforms (like Multicharts, for example), I think it's strange that this can't be decoded with a bridge. I know that there are an API that interact with Multicharts to extract the feed that Multicharts receives from IQFeed and have that in Excel in real time. I never tried to do that because I don't need it but this is the kind of "scheme" I was thinking about (and then adding some markup to that fee). Maybe I'm wrong, I admit that,...
It would not surprise me if someone would try to do such a thing.

Nothing really surprises me anymore as it is.
Trade with confidence, trade without fear.
Quoting Capablanca
{quote} When we will see a prop coming with it's own platform, instead of the established ones like Rithmic, etc., then we may suspect that something can be cooked there. Alpha is about to launch futures, I think it's this week. We will see what kind of platform they use, if a known one or a proprietary one.

Alpha Futures is now on IG. They will launch 1st week of July. They will have their own platform “Alpha Ticks”
Got this from the ACG discord as disclosed by Alpha Futures COO, Ben: EOD dd, $450k max allocation, the monthly subscription will be the challenge fee and no more activation fee once you pass, with ACH for payout, no commission platform but will charge regulatory fees, no consistency on challenge, DCA allowed.

I’m on a wait-and-see mode on this.


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Quoting Expo33
{quote} You might get slippage that goes past the daily drawdown but my understanding/experience is you don't lose your account unless you hit the max overall drawdown.
Yes if I trade 5 lots during news 10-20 pips gap up or down will wipe out 50K account during major events like CPI no risk management via prop firm or Rithmic works.
Only thing works if someone has End of day trailing Drawdown and have buy stop and sell stop during news....it will be easy to pass.
If used something like apex where trailing drawdown follows, I have lost 150K account even though my platform shows 14K in profits and target was 9K.
Quoting TrAndy1
{quote} Yeah, this wayback machine is odd, but I know you cannot trust wayback too, it is like trustpilot, so on behalf any data can be deleted too afterwards. There is no way to get this info, some others are suspecting here. I gave them a try now and will see. I think it follows a common path since I got bigger payouts from Bespoke last year. In the first 3 months they are generous like offering 2 mill accounts across multiple challenges in one go without any scaling as trading proof first. It remembers me on Bespoke that why I mentioned here...
My poor eyes.
cheers!
Quoting TrAndy1
{quote} Yeah, this wayback machine is odd, but I know you cannot trust wayback too, it is like trustpilot, so on behalf any data can be deleted too afterwards. There is no way to get this info, some others are suspecting here. I gave them a try now and will see. I think it follows a common path since I got bigger payouts from Bespoke last year. In the first 3 months they are generous like offering 2 mill accounts across multiple challenges in one go without any scaling as trading proof first. It remembers me on Bespoke that why I mentioned here...
Hedge fund managers don't use paragraphs?

It's ironic, I just has a bad episode of diarrhea and then you reappeared on FF? Can't be a coincidence.
Pride always comes before destruction.... -Proverbs 16:18
Quoting Boulder
{quote} All my funded FX accounts are $100k accounts. I only trade Eur/Used and Gbp/Usd Scalp, most 10 pips less, occasionaly 25 pips. Due to consistancy rule, one trade can not be more than either 30% or 50% total profit depending on firms, so I don't do swing trade I use fixed lot, 2 lots per trade whenver I make 1% to 2%, I stop trading. A lot of times I reach my profit targets in a day or two. . if I need extra days, I place trades in Asian session, very slow and barely any price movement, I just need to trade to meet 5 day requirement. Hope...
Thank you Boulder. Really appreciate it.
All the best to you
Quoting Contessa22
{quote} Alpha Futures is now on IG. They will launch 1st week of July. They will have their own platform “Alpha Ticks” Got this from the ACG discord as disclosed by Alpha Futures COO, Ben: EOD dd, $450k max allocation, the monthly subscription will be the challenge fee and no more activation fee once you pass, with ACH for payout, no commission platform but will charge regulatory fees, no consistency on challenge, DCA allowed. I’m on a wait-and-see mode on this. {image} {image}
No commission platform? No commissions!? Red flag for me straight away if that is the case.
Quoting Takisd
{quote} My poor eyes.
Such an on brand thing for him to do
Trade with confidence, trade without fear.
Quoting Expo33
{quote} Hedge fund managers don't use paragraphs? It's ironic, I just has a bad episode of diarrhea and then you reappeared on FF? Can't be a coincidence.
Im thinking that all came out at once in a tourettes episode.
Trade with confidence, trade without fear.
  • Post #38,152
  • Quote
  • Edited Jun 24, 2024 12:43am Jun 23, 2024 10:07pm | Edited Jun 24, 2024 12:43am
DARWINEX ZERO UPDATE:

As I said a few weeks ago I would be treading water for June as my risk adjustment was knocked down to 0.19 from my initial over leveraging during the calibration phase. I wanted to reach the 75 rating to get the first 30K seed allocation. I did get the allocation and have since been keeping my VaR around 4%, well below the maximum of 6.5%. I was told that it would take 45 days to have the risk engine recalibrate back to 1.0. It's been 45 days so I emailed support to touch base and see what's the scoop.

Anyways, my trade explorer shows a $1561 profit so far for June. Use the 0.19 risk reduction multiplier and that becomes $296 which is why my Darwinex Index only increased by 0.3% for June. And that's completely fine. The goal was to keep the risk low for the 45 days and get my full risk back. If I do nothing the rest of the month I'll get my 15% cut which is $44. TADA!!! So the next month can be paid right from the performance fee profits. Also, I have 2 months free from a prestigious FF member who used my pimp daddy affiliate link to sign up for 2 accounts. They'll remain anonymous unless they wish to "come out". Might as well after all it's pride month

Going forward the goal is to earn 3-5% per month. If you search the Darwin Index base you can see that small month to month gains with a 5-10% drawdown can lead to a pretty sizeable account in 12-18 months. In the meantime your performance fees will be paying for the monthly subscription and you'll have some extra lunch money to boot. The only investment is your time.

Important to note that according to the ratings calculator I only needed to earn 1.94% for June to earn another seed allocation. Would have been pretty easy with full risk available but would have needed closer to 10% when you factor in the 0.19 risk reduction. Point being, low and slow consistent trading pays off quicker than many think with this model. Bada bing bada boom and the next thing you know I'm modelling underwear in my new Lambo.
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Just noticed this and never heard of this metric before. KURTOSIS

Kurtosis is a measure of the tailedness of a distribution. Tailedness is how often outliers occur. Excess kurtosis is the tailedness of a distribution relative to a normal distribution. Distributions with medium kurtosis (medium tails) are mesokurtic.

My brain hurts just reading the partial definition

Anyways, my name is Kurt, so as the young kids say, that is totally dope!
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Pride always comes before destruction.... -Proverbs 16:18
Quoting DwnUndrTrdr
{quote} No commission platform? No commissions!? Red flag for me straight away if that is the case.

Please enlighten me why it is a red flag. I am not that knowledgeable when it comes to Futures trading. Just learning here.
Topstep also offers no commission.


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Quoting procrude
Any one have any input on this new firm? https://tigerfunded.com/ Based in UAE.
Is that a lion on the homepage? Tigers have totally different faces. Get the cat right if you're going to use a cat name. And a leopard at the bottom of the page. Perhaps no-one will notice. Call it jungle funded?
It pays 95% ffs. No metatrader? Couldn't see. Match something? No thanks.
How can there be verified reviews before registration?
Quoting FocusWinReal
{quote} Is that a lion on the homepage? Tigers have totally different faces. Get the cat right if you're going to use a cat name. And a leopard at the bottom of the page. Perhaps no-one will notice. Call it jungle funded? It pays 95% ffs. No metatrader? Couldn't see. Match something? No thanks. How can there be verified reviews before registration?

Hahahaha! Had to check the site and you’re right! Also, one of the fonts used reminds me of old school videogames.

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So now that scammers Riz, Kimmel, Paladin, Lex, Brinter and the list goes on, seemingly have gotten away with bloody murder when will Angelo and Jessica return? Hand in hand on one hand bubble tea and devils lettuce in the other.

I miss the Angelo days where he would constantly make a fool of himself on video. At least we have Matt still just like most circuses once you have seen the act the attraction dies out.
This just in from Funded Peaks.

Dear Traders,
As some of you may know, there has been a delay in some payouts recently and we are working diligently to get things back up to speed.
There are a few reasons for the delay in payouts which we would like to address publicly as well as our coming solution.
Our database of traders has increased significantly and with our competitive trading conditions some large groups of people looking to take advantage of Prop Firms have entered and we must filter them out. A quick example of these types is one trader who did 18000 trades in a few days on C-trader for a 30k profit. Whilst this is an obvious example, it shows that feed abuse is clearly possible on our trading servers. We have worked diligently in the last few weeks to strengthen our internal systems to catch these types of traders before they happen and with one future update we will be able to do so promptly without disruption to the business. Clearing the bad actors is vital to maintain long term balance inside the trading book. Their order flow is not useful under any circumstances and they are detrimental to the Prop trading industry.
A few traders have questioned our solvency, rightfully so, but the truth is different. Our business is solvent but money allocations are a bit sideways. We currently hold enough money in our margin accounts to clear all of our traders' payouts, however, if we do that there will no longer be money in our margin accounts which is essentially a self fulfilling prophecy of death should we do that.
Our solution - we are currently in the final stages of confirming an investor who comes with years of experience of managing FX companies and financial services businesses. He will come in and help clear the backlog as well as help with the organisation of the business going forward and helping our team rise up to our full potential. Together we will be able to solidify and strengthen the business going forward to prevent this type of situation from happening again as well as correctly align the business to the future changes to the industry.
Please take our sincere apologies for the frustration this has caused. We will resolve it very soon.
@everyone
Quoting woody70
This just in from Funded Peaks. Dear Traders, As some of you may know, there has been a delay in some payouts recently and we are working diligently to get things back up to speed. There are a few reasons for the delay in payouts which we would like to address publicly as well as our coming solution. Our database of traders has increased significantly and with our competitive trading conditions some large groups of people looking to take advantage of Prop Firms have entered and we must filter them out. A quick example of these types is one trader...
Same story as skiledfundedtrader and tft...
Extreme gut feeling trader
Quoting woody70
This just in from Funded Peaks. Dear Traders, As some of you may know, there has been a delay in some payouts recently and we are working diligently to get things back up to speed. There are a few reasons for the delay in payouts which we would like to address publicly as well as our coming solution. Our database of traders has increased significantly and with our competitive trading conditions some large groups of people looking to take advantage of Prop Firms have entered and we must filter them out. A quick example of these types is one trader...
We have reserves but we won't use them in a situation when the reserves should be used because we are looking for someone to come with fresh money.
This is the same than saying that we are insolvent, we have no reserves at all and we're praying that someone picks this up.

We can never get bored in CFD prop world.
Funded Engineer is also trying to get some investors.
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