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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

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Prop Firm Hub

Quoting lddd
{quote} Don’t understand. If it expires every 6 months what balance do you then start with at month 7? So what you secured with constantly achieving the min. rating is then gone again? ;-) lol.
Well it is rotation. 1st will expire after 6 months next one will be 7 months etc. Add 6 months from date of inception on GOLD and 3 months on silver.
Do you think external funding is permanent. They can take away immediately so which one is better LOL or Do you think external funding is fixed deposit?
Quoting lddd
{quote} Don’t understand. If it expires every 6 months what balance do you then start with at month 7? So what you secured with constantly achieving the min. rating is then gone again? ;-) lol.
I suggest you check discord

At this point we may need to open up a seperate DZero thread
Pride always comes before destruction.... -Proverbs 16:18
Took a little mini-vac/long weekend. Must remind myself to not trade when on vaca. DD went up, but doesn't seem to change the return I needed for allocation, so all good there.
I did (intentionally) hold trades over the weekend as I anticipated Weekend at bernies would be dropping from the race, as a result my risk factor dropped from 1.82 to 1.66. Could also have been a result of the DD I allowed myself to get into.
I think I am going to fire up 2 more next month......I like to sync them so calibration is over end of month and I have a full month on silver.
I will still ONLY be trading futures, I truly cannot stand forex after becoming comfortable with futures.

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In the spirit of our newly elected Presidential candidate Kamala, she loves the Venn diagrams, here is a Venn diagram showing the overlap of the indices.
I am sure some here were aware, but this was eye opening to me.
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Quoting sampat
{quote} Well it is rotation. 1st will expire after 6 months next one will be 7 months etc. Do you think external funding is permanent. They can take away immediately so which one is better LOL or Do you think external funding is fixed deposit?
Okay. So for every new month you will lose the allocation you received 6 months before. Got it.
Quoting Expo33
{quote} I suggest you check discord At this point we may need to open up a seperate DZero thread
I try to avoid any social media. Time is too precious for that.

Yes, a separate Darwinex topic might be useful. Maybe there already is. I start to understand why it takes them to grow. From a marketing standpoint it’s a horrible product. You need to explain a lot to people so they will even understand the basics.
100% agree on the social media. As far as Darwinex, it is almost like you learn as you go. I mean, it's a pretty basic explanation on paper. Howver, the risk engine, the var, etc, etc .......you knd of have to drive the product to see it in action.
Fortunately, it is an extremely low barrier to entry....almost as low as an Apex 90% deal
Quoting lddd
{quote} I try to avoid any social media. Time is too precious for that. Yes, a separate Darwinex topic might be useful. Maybe there already is. I start to understand why it takes them to grow. From a marketing standpoint it’s a horrible product. You need to explain a lot to people so they will even understand the basics.
I found the vast majority of their offering explained well in their video series.

The risk engine took a little more digging but it is there on their website.

At least I don't have to worry about any trading restrictions or constant changing of the rules
Pride always comes before destruction.... -Proverbs 16:18
Quoting Expo33
{quote} I found the vast majority of their offering explained well in their video series. The risk engine took a little more digging but it is there on their website. At least I don't have to worry about any trading restrictions and constant changing of the rules
Yes, the videos are really great. I really enjoyed the playlist about algo trading and backtesting but also some of the informative videos about Darwinex and Darwinex Zero itself. You're right that there are no strict rules regarding trading style is a big advantage.
Bang Asian session.....
Recovered most of losses of last week... now i am in better mindset going to purchase topstep 50k x 5 and myfundedfutures 50k x 3 today.....
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Extreme gut feeling trader
Quoting montygoldy
Bang Asian session..... Recovered most of losses of last week... now i am in better mindset going to purchase topstep 50k x 5 and myfundedfutures 50k x 3 today..... {image}
Some Dow Secret Sauce in Action... Already scored once another one in action
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Extreme gut feeling trader
Quoting Expo33
{quote} I found the vast majority of their offering explained well in their video series. The risk engine took a little more digging but it is there on their website. At least I don't have to worry about any trading restrictions or constant changing of the rules
Their vids are good.
It seems their rules, for lack of a better word, are not weaponized to take the trader to account termination. Conversely, they are making the trader respect the fact that they will be trading with other people's money, not rented-demo-challenge-virtual-credits.
Quoting montygoldy
{quote} Some Dow Secret Sauce in Action... Already scored once another one in action {image}
Nice volatility in asian session FREE MONEY... Closing day pulled max daily profits....
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Extreme gut feeling trader
After observing many aspects of the retail prop trading world, the first rule (in my own model) that all prop firms/brokers should establish is a low cost monthly subscription, such as 30 USD per month. The only current subscription model is Darwinex. At the very least, if these brokers or firms cannot show the amount of capital they will provide to traders who successfully pass the challenge, they can try to succeed by generating monthly revenue that can support their operational costs. There are six more criteria, but let's start with just one to initiate change, not in terms of who pays or doesn't (after all, who can verify that?).
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“aim small, miss small”
Some testing by propfirmmatch ;

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https://x.com/PropFirmMatch/status/1815046554388177307
Quoting pipmaster77
In the spirit of our newly elected Presidential candidate Kamala, she loves the Venn diagrams, here is a Venn diagram showing the overlap of the indices. I am sure some here were aware, but this was eye opening to me. {image}
its a very good diagram. but what you mean in more details with "eye opening moment" for you? because they are included inside other indices because of the definition of the index?

but why S&P 500 has 397 as number here, should this not be 503 (when you calculate all different stocks for one company)?
same for Nasdaq, why not 100?

--> ah sorry , i am blind, its all included in the other numbers
Quoting AaronPriest
{quote} So no automated trailing stop or ATM strategies for the first two minutes. That's stupidly ridiculous. There's not a single trailing stop or ATM strategy I'm aware of that has a two minute timer on it. Prop firms just keep inventing new ways to screw people.
So, I emailed support and said, "Many people use automated trailing stops. I'm not aware of them having a two minute timer. This is not a good rule."

Their reply was:

"The 2 minutes rule affects only funded accounts Aaron.
And if you have a pre-set SL or TP on your trade and the SL or TP makes the trade close before the 2 minutes window, then you'll be good.

The rule is not as bad as you think and besides, It only affects Funded accounts."


So I replied back:

"That’s an even more ridiculous statement, LOL! “Besides, it only affects funded accounts”? You make it sound like there are so few funded accounts that it doesn’t impact anyone because no one makes it past a demo account. I’d want to be even more critical and protective of profits with a trailing stop, etc. on a funded account than an eval. As I said in my initial communication, many people use trailing stops, etc. and there’s no two minute pause or hold button on them. It’s a silly rule and you should remove or adjust it. I get that you are trying to cut down on HFT and what not that take advantage of demo account conditions, but you could do that by requiring an average trade time across the entire account or 2 minute window around a news event or something instead. Instead this will force people to set a close TP and create more scalping and less trading, unless swing trading with an extremely far SL. Most of my trades are 1:1.5 or greater risk to reward ratio and to keep a high enough win rate I move my stop loss to break even or trail it within a minute or two of opening the trade to protect profits. This is just designed to make people fail their funded account or scalp instead. Generally speaking, you shouldn’t have different rules once funded than you had to use to pass an evaluation, or it’s not a true evaluation."
Quoting RoelsMajor
After observing many aspects of the retail prop trading world, the first rule (in my own model) that all prop firms/brokers should establish is a low cost monthly subscription, such as 30 USD per month. The only current subscription model is Darwinex. At the very least, if these brokers or firms cannot show the amount of capital they will provide to traders who successfully pass the challenge, they can try to succeed by generating monthly revenue that can support their operational costs. There are six more criteria, but...
What folks don't understand about Darwinex is they are giving you a 75% split once you have investor capital.
As there are real investors, they charge a 20% performance fee and I believe, a 2% management fee. These are all standard in the hedge fund world.
They pay us 75% of the 20%, which is where the 15% comes in.
Obviously, they could definitely pay better on the initial seed capital allocations, as that is not real money. Then again, they are not generating any profit on that money.
Quoting Trader191
{quote} its a very good diagram. but what you mean in more details with "eye opening moment" for you? because they are included inside other indices because of the definition of the index? but why S&P 500 has 397 as number here, should this not be 503 (when you calculate all different stocks for one company)? same for Nasdaq, why not 100? --> ah sorry , i am blind, its all included in the other numbers
Yes, I knew there was overlap. The eye-opener was EVERYTHING (minus 21 NAS) is in the S&P and DOW has nothing of it's own.
Quoting AaronPriest
{quote} So, I emailed support and said, "Many people use automated trailing stops. I'm not aware of them having a two minute timer. This is not a good rule." Their reply was: "The 2 minutes rule affects only funded accounts Aaron. And if you have a pre-set SL or TP on your trade and the SL or TP makes the trade close before the 2 minutes window, then you'll be good. The rule is not as bad as you think and besides, It only affects Funded accounts." So I replied back: "That’s an even more ridiculous statement, LOL! “Besides, it only affects funded...
Same concept as use all of your available leverage and risk whatever you wish per trade in the eval (we don't care if you fail) BUT........
DON"T YOU DARE DO THIS ON THE FUNDED ACCOUNT!!!!!!!!! (we may have to pay you)
This model was great 2-3 years ago. With what it has become now, I am shocked they are generating any fee revenue at all.
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