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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

If anyone’s interested (though usually they’re not, apart from Tranny and Taki, who almost always misunderstand everything anyway), AxiSelect has understandably had some recent legal issues and regulatory threats to contend with.

Their main problems have apparently stemmed from the fact that although Axi brokerage itself does offer some well regulated accounts (FCA, UK), AxiSelect is a different, offshore company which has only a fake regulator, a reality that they haven’t adequately disclosed to customers. In other words - exactly as clarified and discussed by many people in many other forums earlier this year - their honesty and integrity are severely deficient.

Of course there are still (as ever) a few people stupid enough to do business with them anyway, in spite of all AxiSelect’s earlier accidents and let-downs.
Quoting Novazor
{quote} Takisd you dont like ctrader? i know Metatrader is king but ctrader is not bad
I don't like ctrader no. But if I have to use it I will when I run out of props.
Quoting Quickly
If anyone’s interested (though usually they’re not, apart from Tranny and Taki, who almost always misunderstand everything anyway), AxiSelect has understandably had some recent legal issues and regulatory threats to contend with. Their main problems have apparently stemmed from the fact that although Axi brokerage itself does offer some well regulated accounts (FCA, UK), AxiSelect is a different, offshore company which has only a fake regulator, a reality that they haven’t adequately disclosed to customers. In other words - exactly as clarified...
Not sure why you included me in this. I am not cheering for Axi - they have always been a strange company.
Quoting Takisd
{quote} I don't like ctrader no. But if I have to use it I will when I run out of props.
You can always use MT4 and use tradersconnect to copy to DxTrader, cTrader, Match etc...It adds 10$ per account per month but worth money.
Quoting sampat
{quote} You can always use MT4 and use tradersconnect to copy to DxTrader, cTrader, Match etc...It adds 10$ per account per month but worth money.
I buyed forexcopier.com and have 24 7 running mini pc that only consumes 2euro of electricity per month running non stop and i can add metatrader and ctrader accounts as many as i want
Quoting Takisd
I am trading CFD props right now and nothing to complain so far. Almost passed 3 of the accounts and two have "on demand" payouts. I am enjoying it because my operation has me not moving and its good to be involved again.
Keep us posted about payouts, please !

Hope you have a swift recover from surgery.
Quoting pipmaster77
{quote} It's just so pathetic that they don't even have to bother to list them any longer.......so who exactly is AxiSelect for? Only Asia, Africa and Antartica? Oh, Canada, they still OK?
Also Artic. Lots of penguins signing up.
Quoting sampat
{quote} You can always use MT4 and use tradersconnect to copy to DxTrader, cTrader, Match etc...It adds 10$ per account per month but worth money.
good stuff to copytrade
Intraday only.
Some quick thoughts on futures props vs. personal account.

As most are aware, I trade extremely risk-adverse, 1-2 micros on props. Now, on the evals I trade larger, but once funded I trade 1-2 micros. Just contemplating what is the point of all that risk and failing 50-60% of evals?

I am going to start an additional, very small account with AMP and trade it the way I trade the props. Going to just throw $200 in as that is about avg cost to get funded assuming 40-50% pass rate and then paying an activation fee. I'd like some more eyes on this math......

All 50K props require 3,000 profit to pass, so personal account would sit at $3,200 at that point. Let's toss aside buying power as micros only require $50 day margin.

Once passing, need to make another $2,600 buffer, putting peronal account at $5,800.

At this point, only APEX allows a payout of $2,000, all others you may only withdawl above buffer. So let's say we make another 2,000

Apex I would have pulled $4,000, all other $2,000, personal account is $7,800 and I can pull $5,300 to leave me with the same $2,500 in DD.

Once again, if using the buying power of the 50K and trying to pass in 1-3 trades, props can definitely be beneficial, for those of us trading micros.....makes no sense.

I can create as many "$200 accounts" as I wish and copy trade just like the props.

Can anyone debunk this math?
Quoting Capablanca
Hope you have a swift recover from surgery.

Sorry to hear you’re having surgery, @Takisd

As someone who has crossed swords (and words) with you here on multiple occasions, I hope you’ll appreciate that I’m being sincere when I wish you well, and a fast/uneventful recovery from whatever surgical intervention has arisen. (It’s one of those times when “online hostilities” shouldn’t interfere with people’s abilities to send good wishes, I hope!).
Quoting KarlKraus
{quote} Sorry to hear you’re having surgery, @Takisd As someone who has crossed swords (and words) with you here on multiple occasions, I hope you’ll appreciate that I’m being sincere when I wish you well, and a fast/uneventful recovery from whatever surgical intervention has arisen. (It’s one of those times when “online hostilities” shouldn’t interfere with people’s abilities to send good wishes, I hope!).
Thank you. I am having two knee replacements and 1 hip. Its nothing too bad just from past troubles. Hip is done knees will be done january.
Quoting pipmaster77
Some quick thoughts on futures props vs. personal account.
-I think, the point of prop should be to generate more capital, more quickly. Ultimately, you should be able to risk less while making more. If not, then adjustments may be needed.

In the case that you describe, trading 1 to 2 micros on a 50k account (2.5k), may not be very beneficial if you are not making good use of the available draw-down (or taking enough trades) in order to increase your overall profit-potential, and thereby reach your goals faster. If your risk-tolerance does not allow for that, then maybe prop is not a suitable path for you.

The biggest way for prop to be more beneficial than trading your personal account is by taking advantage of the extra draw-down. But, it must be done in a way that makes sense mathematically, which may look differently for each person. If you are trading a $2.5k account in the same way that you are trading a $200 account, then you will likely not see much benefit.
Quoting pipmaster77
Some quick thoughts on futures props vs. personal account. As most are aware, I trade extremely risk-adverse, 1-2 micros on props. Now, on the evals I trade larger, but once funded I trade 1-2 micros. Just contemplating what is the point of all that risk and failing 50-60% of evals? I am going to start an additional, very small account with AMP and trade it the way I trade the props. Going to just throw $200 in as that is about avg cost to get funded assuming 40-50% pass rate and then paying an activation fee. I'd like some more eyes on this math.........
I can follow you, and it is okay what you say. But trade this to see how it fits you and report us so we know that too. Would be good to see how you can scale up $200.
Quoting Nsak3y
{quote}-I think, the point of prop should be to generate more capital, more quickly. Ultimately, you should be able to risk less while making more. If not, then adjustments may be needed. In the case that you describe, trading 1 to 2 micros on a 50k account (2.5k), may not be very beneficial if you are not making good use of the available draw-down (or taking enough trades) in order to increase your overall profit-potential, and thereby reach your goals faster. If your risk-tolerance does not allow for that, then maybe prop is not a suitable path...
Yes, I have several APEX live accounts and thinking I really need to up the risk, otherwise not beneficial. Problem with increasing the risk is higher probability of blowing the account......which then means paying for and generating profit on an eval and paying a PA fee again. Vicious circle, where if trading 2 micros and targeting 100 points per day, takes 30 trading days, aprrox 1.5 months to get to the same result.
So, although the prop seems like a time saver in terms of scaling a personal account, if going through cycles of blowing, retaking, getting paid on some, etc, etc....is it truly a time saver? Unless going all-in all of the time as Monty does....although he has run into a losing streak cutting into what he has pulled.
Quoting pipmaster77
{quote} Yes, I have several APEX live accounts and thinking I really need to up the risk, otherwise not beneficial. Problem with increasing the risk is higher probability of blowing the account......which then means paying for and generating profit on an eval and paying a PA fee again. Vicious circle, where if trading 2 micros and targeting 100 points per day, takes 30 trading days, aprrox 1.5 months to get to the same result. So, although the prop seems like a time saver in terms of scaling a personal account, if going through cycles of blowing,...
trading 5 to 10 micros, is best.

One can sleep peacefully.

I trade S & P 500 only
Intraday only.
Quoting Takisd
Hip is done knees will be done january.

Still major surgery, and I wish you very well over it.

And thank you for taking me as I hoped you would.

(I know these joint-replacement operations are very highly successful nowadays, anyway. I’m thinking you and I must be of a similar age …)
Quoting Novazor
{quote} I buyed forexcopier.com and have 24 7 running mini pc that only consumes 2euro of electricity per month running non stop and i can add metatrader and ctrader accounts as many as i want
you tried other local copiers ?

never had issues with this copier ?
Quoting Stoneyrocks
{quote} you tried other local copiers ? never had issues with this copier ?
i have tried duplikium but it gets expensive over time paying around 10$ per account, no problems with forexcopier till now and i can copy many accounts as i wish, they only support MT5 MT4 and cTrader for now
I also tried cMAM trade copier and fxblue tradecopier
Quoting pipmaster77
Yes, I have several APEX live accounts and thinking I really need to up the risk, otherwise not beneficial. Problem with increasing the risk is higher probability of blowing the account......
-The cool thing about firms like Apex, is that you can simply add more accounts; you do not necessarily need to trade bigger position sizes. Being able to trade 20+ accounts is huge; the numbers do not lie. It is beneficial, but only if you can pass the evaluations and stick to the rules etc.. When I spoke about taking advantage of the draw-down, I did not mean that it must be from a single account.

If you bought 20 accounts, at, let's say 2.5k, and also put 2.5k in a personal account, which is going to be better? The draw-down is the same, so you would probably trade the accounts the same way, using a few micros, but at the end of the month, those 20 accounts are going to destroy your personal account. Once you start trading for profit, the risk is the same, but the profit-potential is much greater with the funded accounts. Even if it takes you an extra month to start trading for profit on the funded accounts, it is still going to be better.

Quoting pipmaster77
So, although the prop seems like a time saver in terms of scaling a personal account, if going through cycles of blowing, retaking, getting paid on some, etc, etc....is it truly a time saver?
-I think that this will depend on the person. If you are a decent trader that can work within the rules etc., then it should definitely be worth it. If someone is really bad at trading, then they are not likely to keep their personal account for very long anyway.
Quoting pipmaster77
Some quick thoughts on futures props vs. personal account. As most are aware, I trade extremely risk-adverse, 1-2 micros on props. Now, on the evals I trade larger, but once funded I trade 1-2 micros. Just contemplating what is the point of all that risk and failing 50-60% of evals? I am going to start an additional, very small account with AMP and trade it the way I trade the props. Going to just throw $200 in as that is about avg cost to get funded assuming 40-50% pass rate and then paying an activation fee. I'd like some more eyes on this math.........
APEX is the only firm that allows you to withdrawal inside your buffer, correct?
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