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Funded Traders - Pros n Cons

  • #101
  • May 18, 2016 6:29am May 18, 2016 6:29am
Quoting Forexia
{quote} What investors are looking for in a hedge fund manager is the consistency AND sustainability of its profit. IF you can make that much % of profit in a month consistently for a sustainable amount of time, believe me, people WILL notice. It does NOT take money to make money, not large amount of money anyway. You don't need large amount of money to make money all you need is good ideas and concepts. Same as many startup companies, they don't have lots of money but they have a stellar ideas and they still get snatched up by venture capitalists....
Forexia, 41% per month is like really gambling. It is not sustainable. Almost 800% profit per year is scary. Means you earn a lot but there are huge chances to loose that all. Professional traders hate this kind of numbers and they know why.
  • #102
  • May 18, 2016 7:14am May 18, 2016 7:14am
I posted the history from 6weeks and I agree not sustainable. I showed it to show everyone what I was presenting to the firms as history.
Hi basil. I didn't say £1000 for a single trial I mentioned it for 3 desperate trial at different companies. 365+300 leaves 335 for another and then you have MES with the free trial. I am going ahead with MES trial and I think they look ok. I just don't agree with a fee that's all. I'd rather have a free trial and pay fees for software etc. That seems fairer even though I wouldn't say that was good. It's a minefield out there with these companies. Hopefully I will get a position in a fund soon with my mentor looking into q few routes so it might not be necessary to go to prop firms. Just shows it's who you know sometimes though.
  • #103
  • May 18, 2016 11:37am May 18, 2016 11:37am
Quoting Basill
{quote} Aahhaa Cherry picking to get your biased view across. Why did you not post his latest report on MES. http://www.tradingschools.org/review...apital-update/ Of note is the 1st paragraph. Pros: A legitimate, high level trading opportunity. Absolutely zero costs. Anyone can try out. Real trading accounts are awarded to the best and brightest. You will not be pitched into purchasing education, indicators, or worthless trading mentorship programs. I've already stated my bias. What's your bias against firms offering to fund traders....
Check this out in regards to MES Capital Group ltd.

https://futures.io/vendors-product-r...-identity.html

The website owner hides his identity.......
http://wsdata.co/2015-11-08/mescapit...formation.html

Basill, please tell us a bit more about your connections to MES Capital Group....
  • #104
  • May 18, 2016 5:23pm May 18, 2016 5:23pm
Quoting Basill
The average for a $50,000 funded account is $365. We are not here to discuss Prop' firms who "Hire" traders, MAMM accounts & investment funds etc. We are discussing firms that fund talented traders. The rules & criteria have improved immensely over the past 6 months.
What are the criterias SPECIFICALLY for the firm to decide to fund the trader or not? For example, what is the target profit % that the trader needs to achieve over how long of a period? What is the daily draw-down limit that the trader can have in order to still "qualify" to get funded? Those are the specifics that needs to be communicated clearly to traders if the funding scheme is legit otherwise it's just a scheme.

Quoting Basill
Mainly due to competition pressure.
Yes more and more traders getting informed about funded prop trading/MAMM accounts gimmicks so it's harder and harder to pull tricks now.

Quoting Basill
There is now one firm leading the way with an entry fee of $365 to trade a $50,000 funded account. This firm also provides trialist's with a further 5 FREE attempts to pass. A FREE $2000 Futures trading platform & Free data. Anyone who fails all 6 attempts obviously should not have started in the first place. Funded trader profit split 80:20 Another has NO entry fee. All you have to do is prove your trading ability. You get 2 chances. Funded trader profit split 50:50 Another has a $300 entry fee & a further 2 chances at NO cost. No platform fees,...
1. Again, no firms should charge any fees to traders just for them to try out no matter how large the account. If you want the trader, you give the money. Otherwise you don't. What's this $3300 - $365 entrance fee for? Deposit just to make sure if the trader shows up? Is it refundable if the trader does? Or cost to cover potential losses that the trader might incur if the trial involves the trader trading the firm's money? What if the trader actually made money during the trial? Is this entrance fee given back to the trader or it still just goes into the firm's pocket?

2. All you have to do is prove your trading ability: Going back to my first paragraph, what are the SPECIFIC criterias used to prove the trader's trading ability? How do you assess it? Over how long of a period do I get those 2 chances, further 5 chances? Over a month? Over a week? Over 2 months? Do I have to provide my performance track record again over how long or would I be given a pool of money to trade on the spot for the firm and again over how long? The trader should know so that way they won't waste their time and/or money nor the firm's time or money to try out if they see they don't have what it takes.

3. The trading platform: Do the trader have a choice over what platform to use or do they ABSOLUTELY have to use the firm's platform? What if I am a trader who has a specific trading plan that needs specific trading platform in order to work? I don't need those $2000 platform bullcrap. And btw, you can get very decent, solid and reliable trading platform nowadays on my own for WAY less than $2000. $2000 is a VERY inflated price for whatever platform that that firm uses. I hope the firm is not using the traders to get business for the platform vendor so it can earn commissions/kickbacks under the table; I am NOT accusing the firm but just wondering.

We hope you can go back to the prop trading firms/MAMM accounts providers that you are marketing for and get us the answers to those specific questions. And then we will assess further.

Thank you for your efforts.
Make your losses in demo. Earn your profits live.
  • #105
  • May 18, 2016 5:28pm May 18, 2016 5:28pm
Quoting tsorin
{quote} Forexia, 41% per month is like really gambling. It is not sustainable. Almost 800% profit per year is scary. Means you earn a lot but there are huge chances to loose that all. Professional traders hate this kind of numbers and they know why.
First I am just using the 41% performance record published by Trader1988 as an example. Second, no profit % is 100% sustainable. That is WHY at the end of every single Mutual Fund Prospectus, there is always that tiny fine print that says "Past performance is not indicative of future returns..." Third whether a profit % is sustainable or how sustainable it is depends on how that profit % is produced. If it was produced by shooting darts at price targets or flipping coins then no that profit % would not be sustainable but if it's based on a systematic trading plan that is based on sound mechanisms, then there is no reason that the profit % would not be sustainable albeit with few % of variations.
Make your losses in demo. Earn your profits live.
  • #106
  • May 18, 2016 7:49pm May 18, 2016 7:49pm
Quoting HudithePfupf
{quote} Basill, please tell us a bit more about your connections to MES Capital Group....
Pure & simple. I ave a FUNDED account with them. As have several others here on FF including one other posting on this thread.
Don't believe all you read from the bitter & twisted. Those MES reviews & news are OLD hat.
Would they be on my list if I was not happy with them>???????
Look Left Trade Right
  • #107
  • May 18, 2016 7:53pm May 18, 2016 7:53pm
Quoting Forexia
{quote} What are the criterias SPECIFICALLY for the firm to decide to fund the trader or not? For example, what is the target profit % that the trader needs to achieve over how long of a period? What is the daily draw-down limit that the trader can have in order to still "qualify" to get funded? Those are the specifics that needs to be communicated clearly to traders if the funding scheme is legit otherwise it's just a scheme. .
Holy hell. It is plainly obvious you have not read any of this on their sites. It Is ALL there in plain black n white.
Look Left Trade Right
  • #108
  • May 18, 2016 7:59pm May 18, 2016 7:59pm
Quoting Forexia
{quote} What are the criterias SPECIFICALLY for the firm to decide to fund the trader or not? For example, what is the target profit % that the trader needs to achieve over how long of a period? What is the daily draw-down limit that the trader can have in order to still "qualify" to get funded? Those are the specifics that needs to be communicated clearly to traders if the funding scheme is legit otherwise it's just a scheme. {quote} Yes more and more traders getting informed about funded prop trading/MAMM accounts gimmicks so it's harder and harder...

OHHHH shit. just read the whole post of crap.
I repeat DO your own home work. ALL the answers to your questions are there on each individual site for all to see.

Why are you still here.? What is your agenda.? Why are you SO against Funded trader programs.? You seem to be hell bent on deriding them. DID you fail? Are you just a bitter & twisted failure?
Look Left Trade Right
  • #109
  • Edited 12:27am May 19, 2016 12:06am | Edited 12:27am
Quoting Basill
{quote} Holy hell. It is plainly obvious you have not read any of this on their sites. It Is ALL there in plain black n white.
I actually went to MES Capital's website. For Step 1, you need to send in your personal trading statement over FIVE days (apparently 5 days is long enough for MES to deduce how good of a trader you are when they are potentially prepared to fund you with min. of $15K) and there is NO mention of what's the profit % they are looking for that will accept the trader to Step 2. And then for Step 2, there is a free evaluation for period of 20 days. So for this evaluation period, I assume that you will be trading with the company's money since it's not specified on the website and you just have to make sure the account does not fall below $13,500. But again no profit %, so as long as the trader doesn't lose more than $1.5K in 20 days, they will get funded? They don't have to make any money just not lose $1.5K and MES Capital will be happy to fund the trader with money? What if they get a trader who showed them his/her best 5-day performance track record but lost $10K during the 20-day evaluation period? That's it? MES Capital will just absorb this $10K loss with no recourse to anybody besides firing the trader? And what if during the evaluation period, the trader only lost $1K but makes only 1% profit or 5% profit? Is he/she going to be funded?

None of these specifics are published on the website. Everything on it is VERY vague and doesn't spell out any details regarding what are the specific criterias for getting funded.

And besides in the tiny FAQ section, it states MES Capital allows trading in Futures ONLY. This is a Forex ONLY discussion forum for FOREX traders. WHY are you marketing MES Capital to forex traders who have zero chance of getting funded by MES Capital even if they earn 100% profit?

Quoting Basill
{quote} OHHHH shit. just read the whole post of crap. I repeat DO your own home work. ALL the answers to your questions are there on each individual site for all to see. Why are you still here.? What is your agenda.? Why are you SO against Funded trader programs.? You seem to be hell bent on deriding them. DID you fail? Are you just a bitter & twisted failure?
Ok in your post, you mentioned several funding companies, not just one that are not prop trading firm but actually offer MAMM accounts. First one requires $365 entrance fee just to trial for $50,000 funded account with 80:20 profit split. And then another one has no entrance fee but profit split is 50:50. And then yet again a third one that requires $300 entrance fee but with profit split 70:30. So my questions are pertaining to all THREE of these firms. What are their SPECIFIC criteria over how long of period for EACH THREE of these companies? Or are all those companies just one company, MES Capital, the one you are trying to promote?

If they are THREE different companies, what are the names of those companies and which correspond to which? You want us to visit their websites and yet you don't even specify their names? And still you still didn't answer my questions regarding entrance fees which no traders should be required to pay. What is the purpose of these entrance fee. Are they refundable? And etc.

My agenda is to show that we traders have to be VERY careful when dealing with funded prop trading firms or any entities that want our money and not to be fooled by the apparent accessibility of funds. And we need to ask many specific questions to scrutinize on the operations of those funded prop trading firms to understand their true nature and to make sure they really are set up to help traders succeed instead of just another entity that wants to use us traders as ATM machines. And I don't just target MES Capital this one prop trading firm but ALL prop trading firms. Because you are actively promoting and marketing for MES Capital so unfortunately you feel MES Capital is targetted.

I already did my homework and according to what I have seen those funded prop trading firms all have their own hidden agenda and are really interested in seeing traders succeed. They dangle those big funding numbers in front of traders and in the end they are either an education seller or an introducing broker or the trader ends up losing his own money faster. But you said these are all garbage that supposedly were not true about funded prop trading firm then fine, here is your chance to give us your answers to my questions listed in Post #104 show us the truth about funded prop trading firms. Whether I am a failure or not is irrelevant here. WHERE are YOUR answers?
Make your losses in demo. Earn your profits live.
  • #110
  • May 19, 2016 12:56am May 19, 2016 12:56am
Quoting Forexia
{quote} I actually went to MES Capital's website. For Step 1, you need to send in your personal trading statement over FIVE days (apparently 5 days is long enough for MES to deduce how good of a trader you are when they are potentially prepared to fund you with min. of $15K) and there is NO mention of what's the profit % they are looking for that will accept the trader to Step 2. And then for Step 2, there is a free evaluation for period of 20 days. So for this evaluation period, I assume that you will be trading with the company's money since it's...
I thought the same. Instead of just declaring he has a funded account which has no relevance Basil should give us the relevant facts. Now he looks more like a tout which may be the purpose of this thread.
  • #111
  • May 19, 2016 1:14am May 19, 2016 1:14am
Quoting skyway
{quote} I thought the same. Instead of just declaring he has a funded account which has no relevance Basil should give us the relevant facts. Now he looks more like a tout which may be the purpose of this thread.
And he's touting even in the wrong forum. LOL This is a FOREX forum but MES Capital only funds for Futures trading ONLY so it really begs the question WHY is this thread here?
Make your losses in demo. Earn your profits live.
  • #112
  • May 19, 2016 1:40am May 19, 2016 1:40am
Quoting Forexia
{quote} I actually went to MES Capital's website. For Step 1, you need to send in your personal trading statement over FIVE days (apparently 5 days is long enough for MES to deduce how good of a trader you are when they are potentially prepared to fund you with min. of $15K) and there is NO mention of what's the profit % they are looking for that will accept the trader to Step 2. And then for Step 2, there is a free evaluation for period of 20 days. So for this evaluation period, I assume that you will be trading with the company's money since it's...
Wrong again & again & again. Please do your home work. Seek & ye shall find.
Since when did this become a forex only funded trader thread. I started the thread & immediately mentioned futures. Wrong #1
MES. The profit split is 50:50. seek & ye shall find. Wrong #2
The "trials" as with all firms are conducted with Demo accounts. Wrong #3
All clearly state the allowed DD on trial & funded accounts.Wrong #4
Zero% chance of being funded. I was & still am a forex trader & I got funded along with several others who were forex traders.Wrong #5
All the answers to your questions are there for all to see. So don't pretend they are not. Wrong #6

I ask again. What is Your agenda. To write screeds of suspicions, innuendos, speculations, giving the impression you actually know what you are talking about.??? Your posts are starting to smell.
Look Left Trade Right
  • #113
  • May 19, 2016 1:43am May 19, 2016 1:43am
Quoting skyway
{quote} I thought the same. Instead of just declaring he has a funded account which has no relevance Basil should give us the relevant facts. Now he looks more like a tout which may be the purpose of this thread.
The purpose of this thread arose when Top50 Fx came on to the scene. Here was the chance for Forex traders to get in on the act previously for Futures traders only.
Very few Forex traders are prepared to switch to Futures for various reasons.
Also to make them aware of the Pros n Cons of becoming a funded trader. Some-how this thread has been hijacked by those not prepared to discuss the very thing this thread was started for.
Look Left Trade Right
  • #114
  • May 19, 2016 2:10am May 19, 2016 2:10am
Hi basil I think too50fx looks suspicious when you delve deep but they are relatively new so they could change all that but you would have thought that they would have it sorted and professional from the start. MES looks ok from my point of view and I am going to do the trial. TST in my opinion is marketed far to much and adds to my suspicion of what they want from me is my money and to offer education etc. I recorded email after email off TST pestering which keeps sending a red flag up for myself. I think there has been good arguments for both side and when I start the MES trial I'll definitely keep everybody informed either way. Too50fx has to many red flags and I am drawn away from that, TST is far to pushy with fake testimonials, Yesfx is just a scam I think with no good reviews anywhere. I hope to get funded soon by either prop or fund as I am making good profits and unfortunately not make a living out of it. 5% this week on AUSUSD. Any force traders out there that could recommend any funds to get in touch with? Thanks in advance.
  • #115
  • Edited 2:30am May 19, 2016 2:20am | Edited 2:30am
Quoting Basill
{quote} The purpose of this thread arose when Top50 Fx came on to the scene. Here was the chance for Forex traders to get in on the act previously for Futures traders only. Very few Forex traders are prepared to switch to Futures for various reasons. Also to make them aware of the Pros n Cons of becoming a funded trader. Some-how this thread has been hijacked by those not prepared to discuss the very thing this thread was started for.
We are doing EXACTLY what the title of this thread says: Discussing the "Pros AND Cons of Funded Trading". Unfortunately with the information that we know and the answers that we could not get for the questions that we asked (we are still waiting for answers from you for questions posed in post #104 btw), we discovered there is more Cons than Pros when it comes to funded prop trading firms. If the title of your thread says "Pros AND Cons" you can't just accuse us of hijacking the thread when we are discussing the Cons.

And Forex traders would LOVE to switch to Futures btw but we can't because there is no money to be made in Futures; besides the high margin requirement, it just simply does not have the volatility and does not have big enough of trends (besides maybe the Crude Oil and Gold) like what the Forex market has to allow any traders to make any money. But with Crude Oil and Gold, the volatility is too high that it's not suitable for most traders who are just not capitalized enough to handle the potential losses that can be produced by the volatility. I actually looked at Futures market at one point because I was very disappointed with the unscrupulous tactics that those forex brokers utilize against traders and thought that the central exchange structure of the Futures market would provide a nice alternative but unfortunately the performance results just does not warrant me investing in it.

Anyway going back to the topic of funded prop trading firms, you can see, like I said before, the discussion of the merit of them has always been for funded prop trading firms in general, never just one. You, so far has been the only one who chooses to focus on one firm, MES Capital. Nothing personal, just stating the obvious.
Make your losses in demo. Earn your profits live.
  • #116
  • May 19, 2016 2:26am May 19, 2016 2:26am
Quoting trader1988
Hi basil I think too50fx looks suspicious when you delve deep but they are relatively new so they could change all that but you would have thought that they would have it sorted and professional from the start. MES looks ok from my point of view and I am going to do the trial. TST in my opinion is marketed far to much and adds to my suspicion of what they want from me is my money and to offer education etc. I recorded email after email off TST pestering which keeps sending a red flag up for myself. I think there has been good arguments for both...
I would stop trading the Aussie if I were you. It had good run back in Feb. but it's stopped. The market range and momentum has been terrible starting in March. If your trade system is a trend-following one, I would recommend you to trade the EU or the cable. Cable's volatility is big a bit at times but it still gives good profit because its run is larger provided your system is able to stop the losses early and let the profit run longer.

For MES, I thought you trade Forex and their FAQ states that they fund Futures traders only so how did they let you do an evaluation with them?
Make your losses in demo. Earn your profits live.
  • #117
  • May 19, 2016 2:31am May 19, 2016 2:31am
Quoting trader1988
Hi basil I think too50fx looks suspicious when you delve deep but they are relatively new so they could change all that but you would have thought that they would have it sorted and professional from the start. MES looks ok from my point of view and I am going to do the trial. TST in my opinion is marketed far to much and adds to my suspicion of what they want from me is my money and to offer education etc. I recorded email after email off TST pestering which keeps sending a red flag up for myself. I think there has been good arguments for both...
Yes Top50Fx does seem doubtful at this stage. Can't tell until proven either way.
TopstepTrader is ok . But at the bottom of the list at present. They are legit' & do have a large number of funded traders but there is no free lunch with them.
MES is by far the best to start out with. Free with 2 attempts. NO hampster wheel there.
Proptrader is the best of the "paid " trial firms. Just one payment with 6 chances to qualify. And the best rules of all. I'm trialing with them now.
Savious pays back the trial fee if you qualify. All good there.
Let's face it. This is not for everyone. If you don't think you have the talent, don't do it. Simple. I get the picture most forex traders trade forex cos' they do not have the talent to trade Futures. After all apart form your account deposit the rest is free. Most trade well under 0.10 & many will never get past Demo'
Look Left Trade Right
  • #118
  • May 19, 2016 2:34am May 19, 2016 2:34am
Quoting Forexia
{quote}. And Forex traders would LOVE to switch to Futures btw but we can't because there is no money to be made in Futures;
Ohhh my sides are hurting.
Look Left Trade Right
  • #119
  • May 19, 2016 2:38am May 19, 2016 2:38am
Quoting Basill
{quote} Ohhh my sides are hurting.
You need to go to the hospital, could be serious.
Make your losses in demo. Earn your profits live.
  • #120
  • May 19, 2016 2:41am May 19, 2016 2:41am
Quoting Forexia
{quote}For MES, I thought you trade Forex and their FAQ states that they fund Futures traders only so how did they let you do an evaluation with them?
Once again NO home work done.
With all on the list you can trade.


Australian $ (6A)
British Pound (6B)
Canadian $ (6C)
Euro FX (6E)
Japanese Yen (6J)
Swiss Franc (6S)
E-mini Euro FX (E7) 

Wrong #7
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