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Anyone trading with a Prop firm 6 replies

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Prop Firm Hub

Quoting montygoldy
{quote} In the meantime reactivated a failed challenge with 35$ fees..... and passed it to cover the lost PA {image}
It looks like next week something big with futures broker that will affect all futures prop firms, and takeprofittrader i think is leaving trailing drawdown in sim funded
Quoting Novazor
{quote} It looks like next week something big with futures broker that will affect all futures prop firms, and takeprofittrader i think is leaving trailing drawdown in sim funded
That would be great if trailing drawdown goes away.....
Extreme gut feeling trader
Quoting Novazor
{quote} It looks like next week something big with futures broker that will affect all futures prop firms, and takeprofittrader i think is leaving trailing drawdown in sim funded
Whenever I see any sort of government coming into anything it becomes SHIT.
Quoting montygoldy
{quote} That would be great if trailing drawdown goes away.....
i saw this in patrick wieldman live where brett said it, he thinks is a regulatory thing that futures prop firms cant have trailling drawdown
thats good news for us
Quoting sampat
{quote} Whenever I see any sort of government coming into anything it becomes SHIT.
It usually it is like that but lets hope not this time
Quoting montygoldy
{quote} That would be great if trailing drawdown goes away.....
If trailing goes away expect price rise across the board. It will be like forex prop firms.
Quoting Novazor
{quote} i saw this in patrick wieldman live where brett said it, he thinks is a regulatory thing that futures prop firms cant have trailling drawdown thats good news for us
Depends how they adjust prices and remaining conditions. Things won't stay the same if thar comes.

The positive may be the regulation recognizing that this industry exists.
Don’t buy from any US based cfd firms. My parting gift to you. Good luck
Quoting Novazor
{quote} i saw this in patrick wieldman live where brett said it, he thinks is a regulatory thing that futures prop firms cant have trailling drawdown thats good news for us
lots will go out of business. Trailing dd is risk management system of futures prop
Quoting Takisd
{quote} lots will go out of business. Trailing dd is risk management system of futures prop
Yep they will implement absurd rules like forex prop firms you can't risk more than 1% on a given position etc...
Quoting Takisd
Don’t buy from any US based cfd firms. My parting gift to you. Good luck
This would be E8, MFFX, TFF, Top Tier. Not sure if anyone else.

Last two would be a no go, anyway.
Quoting sampat
{quote} Yep they will implement absurd rules like forex prop firms you can't risk more than 1% on a given position etc...
they already have so many buljive rules 20%-30% consistency, same contract sizing, 30% max drawdown for open trades(apex) and alot more.....I wont think it'll impact much. As most of the firms already have EOD accounts. Its just apex that depends on trailing ONLY......... But Apex not going anywhere i guess atleaast for now... Not sure how much is true but there is a thing on twitter where they shared details on internal lawsuit and its says they are making net profit of 10mil a month or something like that.... WHo would let their golden goose die....
Extreme gut feeling trader
Quoting montygoldy
{quote} they already have so many buljive rules 20%-30% consistency, same contract sizing, 30% max drawdown for open trades(apex) and alot more.....I wont think it'll impact much. As most of the firms already have EOD accounts. Its just apex that depends on trailing ONLY......... But Apex not going anywhere i guess atleaast for now... Not sure how much is true but there is a thing on twitter where they shared details on internal lawsuit and its says they are making net profit of 10mil a month or something like that.... WHo would let their golden...
These futures prop firms doesn't have control on spreads like forex prop firms (especially rithmic and tradovate feeds) also there is no daily loss limit after reaching to threshold which is BIG negative for prop firm thats why one sees huge payouts unlike forex prop firms where it is daily 5% no matter how much traders profit.
Question is not about prop firm vanishing. Question is how much you can extract from them. FTMO and 5ers still exists but they dont make big payouts anymore because if you over leverage they will ban you.
Quoting Capablanca
{quote} This would be E8, MFFX, TFF, Top Tier. Not sure if anyone else. Last two would be a no go, anyway.
Not sure if mffx is technically still US based, their website suggests that they are registered entity's in Hong Kong and Cyprus.
I do not know to " yolo " .
I am used to trade only normally for a daily target.
Today being NFP day, I tried yolo one 100 k account.
The target to achieve is 6000. To pass.
I started with normal trading first. Made 450
Tried Yolo. Profit 450 reduced to loss 1150
Today, yolo mind. So tried yolo another time.
Recovered loss 1150 and made net profit 1600.
Tried yolo again. Made good money again. Net profit close 3000.
Tried yolo again. Lost everything. But stopped loosing everything. I stopped trading when net profit was 120.
I decided this is the result of trading in yolo manner.
Disciplined,
trading will result in 500 +. For me usually. Which is enuff.
Some 5 yrs ago, I used to trade like this.
These days except few days, I trade disciplined.
I am posting this as a kind of lesson to fellow traders.
The emotion swings differently in same day.
Lol
Intraday only.
Quoting montygoldy
{quote} they already have so many buljive rules 20%-30% consistency, same contract sizing, 30% max drawdown for open trades(apex) and alot more.....I wont think it'll impact much. As most of the firms already have EOD accounts. Its just apex that depends on trailing ONLY......... But Apex not going anywhere i guess atleaast for now... Not sure how much is true but there is a thing on twitter where they shared details on internal lawsuit and its says they are making net profit of 10mil a month or something like that.... WHo would let their golden...
Hummmmmm..... You got a different perspective than mine when I read the post.
You read it as eliminating the intraday trailing DD (and that would only impact Apex).
I read it as eliminating the max trailing DD (which would impact basically everyone).
  • #46,117
  • Quote
  • Edited Jan 11, 2025 3:43am Jan 10, 2025 5:37pm | Edited Jan 11, 2025 3:43am
In general, yes, all challenges in forex or futures should no longer have trailing drawdown, only static drawdown. A maximum daily loss of 1% (with slight deviation allowed) is acceptable as long as the profit target does not exceed 7%. Simple. Isn't the purpose of a prop firm to make traders better? A target above 7% is unreasonable, even if it’s unlimited and no need 2 step and 3 step. I always say that if they want to set a one-month time limit, that’s fine as long as the profit target is not above 7%. Even without many rules, 99% will still fail at least more than once. Why make it so complicated? If 1% of traders consistently succeed, they will surely attract investors. What are they looking for?

For 7%, 1% a day for 7 days is not Gung-Ho. It only requires winning 7 trades with consistent consecutive results, so if the win rate is 57%, that's 4 out of 7 (Gain 4%, Loss 3.09%, Overall Gain 0.91%) .
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And, behold, with every hardship comes ease:
Second payout on tickticktrader got rejected.

Not sure the reason why. I passed the threshold of 157500 and maintained a consistency of below 20%.

First payout I requested when account was 157575. 3000 was paid out and the account balance got deducted to 154575.
I traded 6 more days and the new account balance was 157715 with a consistency of 19.75%. This payout was rejected.

Anyone know if I'm missing something?
Quoting maltrader
Second payout on tickticktrader got rejected. Not sure the reason why. I passed the threshold of 157500 and maintained a consistency of below 20%. First payout I requested when account was 157575. 3000 was paid out and the account balance got deducted to 154575. I traded 6 more days and the new account balance was 157715 with a consistency of 19.75%. This payout was rejected. Anyone know if I'm missing something?
that is not good.// i dont see a reason to get rejected… ask the support what they have to say …..
Extreme gut feeling trader
Quoting montygoldy
{quote} that is not good.// i dont see a reason to get rejected… ask the support what they have to say …..
Waiting for their response now after emailing them. They didn't say anything, just changed the status to rejected.
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