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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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Quoting Vuki
{quote} that’s of course bad to hear. I never had such problems with prop firms but I also never had a 5 figure payout with them. The complete model just seems to sketchy for me. ever tried using your own money instead of props?
Yes Sir. I concentrate trading my personal account. I had some refund requested but did not get the money back since 3 months now. So I only could trade on a challenge on AscendX which is now named Quant Tekel. When I make it to payout maybe then I will get my refund for the duplicate paid fee. There was a message on website that my order was not gone through. I trusted this message and then I tried it again and what happened. They charged my credit card twice, but even I could not trade all challenges because I was over the $400k max. allocation limit. So then i asked for a refund of that 100k account money, but nothing happened. Now I have a free 50k account from them which is funded and 100k I never wanted to buy and is passed for Phase 1 and now in Phase 2 after 2 weeks. I can only advice everyone to keep trading on your own personal broker account regardless you trade some prop challenges. Just in case you know what is better later to concentrate on. For me that question is answered. I lost more money this year than I earned with prop firms, and this is 20k in 2024. Because of large payout delays, where I could not trade some very good A+ setups and rule changes which resulted in a sudden breach. If I only traded my personal broker account in 2024, I would have made more money !!
Quoting TrAndy1
{quote} Yes Sir. I concentrate trading my personal account. I had some refund requested but did not get the money back since 3 months now. So I only could trade on a challenge on AscendX which is now named Quant Tekel. When I make it to payout maybe then I will get my refund for the duplicate paid fee. There was a message on website that my order was not gone through. I trusted this message and then I tried it again and what happened. They charged my credit card twice, but even I could not trade all challenges because I was over the $400k max. allocation...
you already have a fix for your problem stated by yourself. Stick to your own money. Only thing needed is a good broker and that’s it.
Forex Trader | IT Infrastructure Specialist | Trading Insights & Analysis P
VukispaceTickeScalperArbitrage All Time Return: 4,021.1%
Check yourself this new futures prop. Not much additional fees when funded, no payout cap too.
https://4proptrader.com
Quoting TrAndy1
{quote} Yes Sir. I concentrate trading my personal account. I had some refund requested but did not get the money back since 3 months now. So I only could trade on a challenge on AscendX which is now named Quant Tekel. When I make it to payout maybe then I will get my refund for the duplicate paid fee. There was a message on website that my order was not gone through. I trusted this message and then I tried it again and what happened. They charged my credit card twice, but even I could not trade all challenges because I was over the $400k max. allocation...
but for 20k wins in one year nobody would do fulltime trading as only income (maybe in poor countries it is different, but even then its a very low number for get something with risk). near in any job you would then earn more salary and this without risk and with paid holidays and health insurance parts Paid and many other additional advantages.

or you speak about this money additional to your job salary, so just as some add on to your main income?

in most cases (for industrial countries) as fulltime trader when you cant earn 100k a year or above (or get better and better to do in some years) you dont compensate for your costs and risks against a paid job. so calculate always with opportunity costs, or you get wrong results (in life and in trading). thatswhy in reality only lower then 0,5 % (maybe even lower then 0,1%) of traders are real net winners.
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  • Edited Sep 18, 2024 12:19am Sep 17, 2024 11:42pm | Edited Sep 18, 2024 12:19am
Quoting Trader191
{quote} but for 20k wins in one year nobody would do fulltime trading as only income (maybe in poor countries it is different, but even then its a very low number for get something with risk). near in any job you would then earn more salary and this without risk and with paid holidays and health insurance parts Paid and many other additional advantages. or you speak about this money additional to your job salary, so just as some add on to your main income? in most cases (for industrial countries) as fulltime trader when you cant earn 100k a year...
Most dont have the time to give to become that 0.5% from what I see or will even. When I was way more newbie than I am now, at first glance the first years it seemed as it wasn't that hard to make consistent flow from trading. Then in time reality kicks in how markets are extremely dynamic and how all books about trading strategy are basically useless as the markets are too dynamic for that.

Its about solving problems and adapting each day. It only comes with time as some older pro traders said that only thing that matters is chart time. Some also say that trading its like practicing for marathon. You must constantly train that part of the mind to keep it in shape.
As trading attracts mostly gambler addict mindsets I dont see how 0.5% or around there is a hard number to achieve if one takes it serious. But then again we are talking about easily 5 plus years it seems and if doing it constantly many hours each day. Not just trade but looking at flaws.

Thats where I think most dont bother about too. As they think its boring to look at flaws.. Then they keep repeating same and same year after year confused why their trading skills wont change. Then they come to forums and whine and say its impossible to get profitable at trading. It requires serious stamina and will. Better for most to get normal job even as waitress, no joke.
Quoting driven18
{quote} Congrats Pip on your perseverance and your achievement. I know of only very few traders in this forum(Cryptosurf, myself and 1-2 others), who actually in the business of trading and beating the all mighty Mr. Market. You are one of them. Your journey is slow but deliberate...keep on going! Here is the sign of continue inspiration. For me, 1 trade today on Dow Futures 1 Hour TF, for + 5%. {image}
That is fantastic driven18! What session of the day do you trade?
Quoting Vuki
{quote} it’s fully legal for a prop firm to change rules without prior notice. Kyc rules are changed by the country where the prop has settled down so not their decision. People getting angry because they break rules and then make bad reviews for a denied payout is pretty much laughable. Pure comedy for me.
I don't give a shit if it's legal to change rules. If they do that without notice and then start denying payouts based on those new rules, it says to me that they're not reliable. Do you really think it' reasonable that you start your day checking every props site to see if anything was changed during the night ?

For the KYC it's just a way of Alpha kicking people out. They did KYC once, all was good, paid people several times and then, suddenly, they discover that they need to do again KYC and this is failed.

Don't take me wrong mate. I received a lot of payouts in Alpha and I still have account there. But being paid and trust the prop are two completely different things.

About "follow the rules and you won't have any problem", we had plenty of cases here of people that followed all the rules and even proved it beyond any doubt and still had denied payouts and/or accounts banned. TrAndy was one of them in Bespoke, Vitore another in Funded Next, just to mention some.
Quoting Capablanca
{quote} I don't give a shit if it's legal to change rules. If they do that without notice and then start denying payouts based on those new rules, it says to me that they're not reliable. Do you really think it' reasonable that you start your day checking every props site to see if anything was changed during the night ? For the KYC it's just a way of Alpha kicking people out. They did KYC once, all was good, paid people several times and then, suddenly, they discover that they need to do again KYC and this is failed. Don't take me wrong mate. I...
Truly many of the prop dont do kyc proper because prop trader expects account same second. Its impossible to do proper kyc. That being said dont offer service if you cant fulfil professional. KYC check before funded needs to take some moments for proper check
Quoting Takisd
{quote} Truly many of the prop dont do kyc proper because prop trader expects account same second. Its impossible to do proper kyc. That being said dont offer service if you cant fulfil professional. KYC check before funded needs to take some moments for proper check
The funny thing is that Alpha is the one taking the most time to do KYC and send credentials. They take up to 5 business days to make it and usually they take the 5 days up to the last minute.
We know why they do this - it's a way of postponing first payouts, but it's funny anyway that they can't do a proper KYC when they are the ones taking the most time.

https://help.alphacapitalgroup.uk/en...cess-is-passed
Quoting Capablanca
{quote} I don't give a shit if it's legal to change rules. If they do that without notice and then start denying payouts based on those new rules, it says to me that they're not reliable. Do you really think it' reasonable that you start your day checking every props site to see if anything was changed during the night ? For the KYC it's just a way of Alpha kicking people out. They did KYC once, all was good, paid people several times and then, suddenly, they discover that they need to do again KYC and this is failed. Don't take me wrong mate. I...
Yes you should check daily. Its the same with your car. In Germany its a must to check around thd car if it is working fine. Every single drive...

As already said. KYC has nothing to do with alpha. They are even using an external provider for that.

Ever had a case where someone could prove he did not break the rules?
Forex Trader | IT Infrastructure Specialist | Trading Insights & Analysis P
VukispaceTickeScalperArbitrage All Time Return: 4,021.1%
Quoting Capablanca
{quote} The funny thing is that Alpha is the one taking the most time to do KYC and send credentials. They take up to 5 business days to make it and usually they take the 5 days up to the last minute. We know why they do this - it's a way of postponing first payouts, but it's funny anyway that they can't do a proper KYC when they are the ones taking the most time. https://help.alphacapitalgroup.uk/en...cess-is-passed
Yes but we known alpha to be stupid for long now.
Is it true APEX doing fast payouts ....... seeing people approved in 1 day on twitter and some youtube streamers claiming as well...
Extreme gut feeling trader
Quoting Vuki
{quote} Yes you should check daily. Its the same with your car. In Germany its a must to check around thd car if it is working fine. Every single drive... As already said. KYC has nothing to do with alpha. They are even using an external provider for that. Ever had a case where someone could prove he did not break the rules?
OK, if you think it's reasonable that we should check every site of every prop we're working with, every day, there's nothing I can do for you. Don't wait much help here because you don't deserve it with that kind of thinking.

It's clear you're a noob in this industry. If you were reading this thread in the last two years you would have seen plenty of examples and evidence of malpractices. You're the dream of guys like Angelo, Khaled, Cue Banks, Pasquale, Tristan, George Kohler and so on. People that are naive enough to think that props are always right and owners very decent people.

You could not have started better here.
Guys help please.
What is going on with my tradovate Gold chart ?
Attached Image (click to enlarge)
Click to Enlarge Name: tradovate.png Size: 17 KB
Quoting MoHoSK
Guys help please. What is going on with my tradovate Gold chart ? {image}
Did you change the symbol for the new contract ?
Quoting Capablanca
{quote} Did you change the symbol for the new contract ?
Whats the new symbol please?
Quoting Capablanca
{quote} OK, if you think it's reasonable that we should check every site of every prop we're working with, every day, there's nothing I can do for you. Don't wait much help here because you don't deserve it with that kind of thinking. It's clear you're a noob in this industry. If you were reading this thread in the last two years you would have seen plenty of examples and evidence of malpractices. You're the dream of guys like Angelo, Khaled, Cue Banks, Pasquale, Tristan, George Kohler and so on. People that are naive enough to think that props...
It’s interesting how you assume I’m naive just because I believe in being proactive and vigilant. Your perspective seems to be rooted in a negative experience and general distrust, which I get—there are definitely issues in the prop trading space.

However, you’re failing to see that the industry, like any other, is filled with both good and bad actors. Instead of resigning to cynicism and assuming all prop firms are out to scam you, it might be more productive to use your experiences to learn and adapt. Sure, checking every prop firm daily might seem excessive, but if that’s what’s needed to ensure you’re not caught off guard, then it’s a small price to pay for safeguarding your interests.

Regarding your KYC and payout concerns, it’s clear that the system isn’t perfect, and yes, mistakes happen. But, as someone who’s been around trading for a while, I’m sure you know that complaining about the system without offering any practical solutions won’t get you very far. If you have concrete evidence of malpractice, then that’s worth pursuing through proper channels instead of dismissing the entire industry based on a few bad experiences.

In the end, it’s all about balancing caution with action. If you think the prop firms are inherently corrupt, then perhaps exploring other avenues is the better solution.
Forex Trader | IT Infrastructure Specialist | Trading Insights & Analysis P
VukispaceTickeScalperArbitrage All Time Return: 4,021.1%
Quoting MoHoSK
What is going on with my tradovate Gold chart ? {image}

You missed the rollover, a couple of days ago, and are no longer charting the front month by volume. You need to change it from MGCV4 to MGCZ4.

I see you also have a setting showing at the top for an MNQU4 chart, and you now need to change that, also, to MNQZ4.
Quoting Vuki
{quote} It’s interesting how you assume I’m naive just because I believe in being proactive and vigilant. Your perspective seems to be rooted in a negative experience and general distrust, which I get—there are definitely issues in the prop trading space. However, you’re failing to see that the industry, like any other, is filled with both good and bad actors. Instead of resigning to cynicism and assuming all prop firms are out to scam you, it might be more productive to use your experiences to learn and adapt. Sure, checking every prop firm daily...
I don't mind in taking money from crooks. A dollar is a dollar, my wallet doesn't mind, provided it's not illegal or forbidden. I had decent net profit with Funding Talent, The Prop Trading, The Funded Trader, Traders Centrar Fund, True Forex, despite all were crooks, with shady practices, and are buried now (except for TFT which is trying to revive the scam).

But receiving money from crooks doesn't mean they are not crooks any more. It's naïve to come to this industry thinking we're going to find good people in general and a couple of bad apples are the exception. It's the reverse, unfortunately. This thread is the live proof of that.

It's funny you're mentioning that I have to be selective and in your post you mentioned Goat which, from the top 20 known props, it's probably one of the worse.
It's probably the confirmation bias "I received a payout so they are good guys". This is the most terrible line of thinking we can have in this industry. Never make your opinion depend on the payout.
Quoting KarlKraus
{quote} You missed the rollover, a couple of days ago, and are no longer charting the front month by volume. You need to change it from MGCV4 to MGCZ4. I see you also have a setting showing at the top for an MNQU4 chart, and you now need to change that, also, to MNQZ4.
Thank you
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