Prop Firm Hub | Page 1979 | Forex Factory

Options

Go to
Permalinks
Print Thread

Featured US Prop Firms

Similar Threads

Anyone trading with a Prop firm 31 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
Exit Attachments

Prop Firm Hub

  • #39,561
  • Jul 19, 2024 7:09am Jul 19, 2024 7:09am
I sent email copy to FTMO recd by stirmat to get clarified.

FTMO response is attached
Attached Image (click to enlarge)
Click to Enlarge Name: ftmo email.png Size: 26 KB
Intraday only.
  • #39,562
  • Jul 19, 2024 7:18am Jul 19, 2024 7:18am
Quoting lddd
{quote} I'm sorry, but FTMO doesn't communicate this anywhere and it's not in the rules. Can you provide some facts/evidence instead of just making such claims?
There have been many emails shared with these facts after being funded. I'm not currently in any Forex prop firm Telegram and Discord groups anymore to dig them up, having been forced into futures instead. But you can find them. One was just shared and then confirmed by others that they got similar emails.
  • #39,563
  • Jul 19, 2024 7:25am Jul 19, 2024 7:25am
Quoting navk
I sent email copy to FTMO recd by stirmat to get clarified. FTMO response is attached {image}
It seems as if traders are being contacted individually and asked to rethink their risk management. However, I think this shouldn't happen if you trade rationally and don't go "all in" with a single trade or if you max out the margin with your open cumulative P&L. However, there does not seem to be any clear regulation as to how high this can be, other than the said maximum daily limit of -5% that is communicated everywhere.

So you can just wait and see if/until you get such an email from them and then either agree to new individual terms or not.

I can understand that they don't want to have "gamblers" who reach a quick/high profit target with 1-2 trades in which they risk a lot and thus possibly get a high payout only to blow up the next month. Especially when there is no longer a time limit and you are no longer in the evaluation stage, it makes sense to approach it a little more slowly and safely.

And even in the evaluation there is no longer a time limit. This means you also have the opportunity to take less risk per trade (0.5-1% should really be enough). It is also clear that you cannot have three such trades running at the same time, otherwise you would quickly have reached the maximum daily drawdown of 5%.
  • #39,564
  • Jul 19, 2024 7:29am Jul 19, 2024 7:29am
ftmo have always had these actions and nda's covering many pay and bans.
  • #39,565
  • Jul 19, 2024 7:55am Jul 19, 2024 7:55am
Quoting navk
{quote} Got it. In open trades, they do not want more than 1 % DD. However in a day 5 % dd and 10 % over all dd rule is fine.
I am glad you get their point now buddy
  • #39,566
  • Jul 19, 2024 8:06am Jul 19, 2024 8:06am
Quoting Takisd
ftmo have always had these actions and nda's covering many pay and bans.
Do you have an example of such a non-disclosure agreement?
  • #39,567
  • Jul 19, 2024 8:45am Jul 19, 2024 8:45am
Question, does Apex allow scalping? there website says they do... but just confirming with guys who trade PA Accounts.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 13 KB
Drawdown is more important than Account Size !
  • #39,568
  • Jul 19, 2024 9:26am Jul 19, 2024 9:26am
Quoting procrude
Question, does Apex allow scalping? there website says they do... but just confirming with guys who trade PA Accounts. {image}
Of course they do. If you’re trading intraday only, then scalping is your only option.
Trade with confidence, trade without fear.
  • #39,569
  • Jul 19, 2024 9:35am Jul 19, 2024 9:35am
Quoting lddd
{quote} Do you have an example of such a non-disclosure agreement?
google it.
  • #39,570
  • Jul 19, 2024 9:51am Jul 19, 2024 9:51am
this orders rejected error with apex is really getting old.....h
to trade and code, keep both simple... no call to impress....h
  • #39,571
  • Jul 19, 2024 10:06am Jul 19, 2024 10:06am
Quoting hayseed
this orders rejected error with apex is really getting old.....h
Tradovate is still dickering around with their platform. There was some mention of them rolling out upgrades after the close today.

Attached Image (click to enlarge)
Click to Enlarge Name: IMG_1754.jpeg Size: 691 KB
Trade with confidence, trade without fear.
  • #39,572
  • Jul 19, 2024 10:18am Jul 19, 2024 10:18am
Quoting Cryptosurf
If you’re trading intraday only, then scalping is your only option.

What?!

I’ve seen some garbage posted in this forum, in my time, but this one is really too far beyond ridiculous.

Even for Forex Factory.

Even for Cryptosurf.

A slip-up, anyway, to put it very politely: you obviously meant to say something different, I appreciate - I just can’t work out what!?
  • #39,573
  • Jul 19, 2024 10:23am Jul 19, 2024 10:23am
Quoting hayseed
this orders rejected error with apex is really getting old.....h
yes i could not trade Gold due to some outage in tradovate which should be fixed over the weekend but Dow was tradeable and some other markets.
Drawdown is more important than Account Size !
  • #39,574
  • Jul 19, 2024 10:27am Jul 19, 2024 10:27am
Quoting KarlKraus
{quote} What?! I’ve seen some garbage posted in this forum, in my time, but this one is really too far beyond ridiculous. Even for Forex Factory. Even for Cryptosurf. A slip-up, anyway, to put it very politely: you obviously meant to say something different, I appreciate - I just can’t work out what!?
Attached Image (click to enlarge)
Click to Enlarge Name: hotkarl.png Size: 9 KB
A snails pace wins the race :-)
  • #39,575
  • Jul 19, 2024 10:33am Jul 19, 2024 10:33am
Quoting KarlKraus
{quote} What?! I’ve seen some garbage posted in this forum, in my time, but this one is really too far beyond ridiculous. Even for Forex Factory. Even for Cryptosurf. A slip-up, anyway, to put it very politely: you obviously meant to say something different, I appreciate - I just can’t work out what!?
Congratulations. This is even beyond stupid for you.

Your only option with Apex is scalping due to being flat by EOD and the trailing DD. Sure one can try to swing trade the NY session, but most are going to get murdered by the trailing DD if they aren’t paying attention.

If this confounds you, then you’re a bigger fool then anyone ever suspected.
Trade with confidence, trade without fear.
  • #39,576
  • Jul 19, 2024 10:38am Jul 19, 2024 10:38am
Quoting Takisd
{quote} google it.
Can't find anything about it, but in the FTMO topic here there was the following statement by one of the CEOs.

Quoting TraderOtakar
If we have ever failed to pay to anyone, I believe no disclosure agreement would help us as the online world quickly reveals dishonest companies. There is no such paragraph in the contract. The contract itself is a legally binding agreement between the company and the client.
Apart from that, whether such non-disclosure agreements exist seems to be irrelevant. If the definitions in such an agreement are as vague as the rest of the rules, they would be unlikely to stand up in court.
  • #39,577
  • Jul 19, 2024 10:55am Jul 19, 2024 10:55am
Quoting KarlKraus
{quote} What?! I’ve seen some garbage posted in this forum, in my time, but this one is really too far beyond ridiculous. Even for Forex Factory. Even for Cryptosurf. A slip-up, anyway, to put it very politely: you obviously meant to say something different, I appreciate - I just can’t work out what!?
you forgot to log into your other account to pat yourself on the back
  • #39,578
  • Jul 19, 2024 11:08am Jul 19, 2024 11:08am
Quoting Cryptosurf
{quote} Congratulations. This is even beyond stupid for you. Your only option with Apex is scalping due to being flat by EOD and the trailing DD. Sure one can try to swing trade the NY session, but most are going to get murdered by the trailing DD if they aren’t paying attention. If this confounds you, then you’re a bigger fool then anyone ever suspected.
i think Karl speak about the scalping vs daytrading part. a lot will say scalping is one kind of daytrading (if you say it will be closed in next 24 hours after open the trade, some say each trading day.. so even here different definitions already) but not each daytrading style is scalping.
but anyone defines this different.

most use definition for scalping is very short term trading, seconds until minutes.
daytrading most use as definition for minutes until hours.

so you are both right, you just use different definitions and split different.
  • #39,579
  • Jul 19, 2024 11:31am Jul 19, 2024 11:31am
Quoting Trader191
{quote} i think Karl speak about the scalping vs daytrading part. a lot will say scalping is one kind of daytrading (if you say it will be closed in next 24 hours after open the trade, some say each trading day.. so even here different definitions already) but not each daytrading style is scalping. but anyone defines this different. most use definition for scalping is very short term trading, seconds until minutes. daytrading most use as definition for minutes until hours. so you are both right, you just use different definitions and split different....
Granted, however the original question wasn't a general question. It was "Does Apex allow scalping?"

So the concise answer revolves around Apex and Apex only.

Do they allow scalping? Yes, many of their own videos explicitly say so.

Knowing that and their rules, ones success is heavily weighted to always be taking profits. Something they also explicitly say in many of their videos. If not then the trailing DD will kill the account rather quickly.
Trade with confidence, trade without fear.
  • #39,580
  • Jul 19, 2024 11:38am Jul 19, 2024 11:38am
Just passing on an email I just got from MFFX. Didn't really read it as I'll never use them but here it is:
Attached Image (click to enlarge)
Click to Enlarge Name: my.png Size: 83 KB
Pride always comes before destruction.... -Proverbs 16:18
64 traders viewing now