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Anyone trading with a Prop firm 31 replies

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  • #37,301
  • Jun 2, 2024 4:19pm Jun 2, 2024 4:19pm
Quoting Capablanca
{quote} People risking 1000 (within daily limit) to make 200. Statistically this has a 80% win rate even with a coin flip. Same for straddling/strangling news or opening. TST rules don't seem to prevent it. I think they will start facing more problems in the next coming weeks, now that Apex became tougher in rule enforcement.
80% yes but you have to do that 5 times. Means 0.8^5 ---> 32% . And even in this case, you can withdraw only the half of your winnings. Difficult to find an edge with that. A " good " gambler will never lose his time with this kind of rules ( I don't talk about the 50% preventive rules during the challenge)

Regarding the news : this cannot be used in challenge because if the trader wins too much, he will be penalized by the 50% rule and his final target will seriously increase. On the other hand, in fact, gamble with your funded on a news seems possible but the scaling plan will seriously reduce the gain (40 points on the Nasdaq with 2 contracts would only make 1600 dollars) There is therefore no edge particular. This is why a gambler will very quickly move on and attack other models. Topstep solved the problem for me in a very elegant and simple way (unlike Apex which needs dozens of videos and completely crazy and subjective criteria)
  • #37,302
  • Edited 6:37pm Jun 2, 2024 4:57pm | Edited 6:37pm
Quoting Fisher755
{quote} I checked the score once again after your post and it was the same. But now when I logged out and in again I see the change yes. And after 1.5% gain in calculator I would be at 76 again so it gets easier in time. Imho average to first allocation is cca 3 month, so we did a good job. 8% first year I took a pic : {image} So if we have more, then 20% gain is not enough as Sampat said and I would not want to go over that, at least not by much-all my calculations are on 8%...and of course no hurry, flipping the account is too much risk because...
I'm reading that differently. I don't think having a drawdown of more than 8% means you have to have a longer track record it just means you need more profit. So if you had 10% drawdown you just need 25% profit and you'll still get gold in the first year.

In any event I don't plan on my drawdown going above the 5% that it's at right now. Just go low and slow and the plan will come to glorious fruition
Pride always comes before destruction.... -Proverbs 16:18
  • #37,303
  • Jun 2, 2024 5:00pm Jun 2, 2024 5:00pm
Quoting TheDoug
Here's a crypto only prop firm. Guess that's a new twist on a dead horse, of sorts. Seem to be non-US based. Pretty much stock and standard website, photos, interviews, info, etc. https://www.hyrotrader.com/
Yup nothing special here.

Some kids made a website to attract other kids to pay ridiculous prices for a company with little to no history offering nothing special.

Can't blame them though. No reason not to try and suck some money out of a market that's festering like a disease plagued whore.
Pride always comes before destruction.... -Proverbs 16:18
  • #37,304
  • Jun 2, 2024 6:45pm Jun 2, 2024 6:45pm
I'm currently taking the FTMO 10k challenge.

I'll share my results as soon as I have enough posting history to start a thread
  • #37,305
  • Jun 3, 2024 1:04am Jun 3, 2024 1:04am
Hi all, I'm new to this prop firm things. Any suggestion another legit Prop Firm? So far I've only trade with FXIFY. Ady milk 1 grand with them
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Stay low, Go fast - No luck, All skill
  • #37,306
  • Jun 3, 2024 1:54am Jun 3, 2024 1:54am
Quoting tehtawar
Hi all, I'm new to this prop firm things. Any suggestion another legit Prop Firm? So far I've only trade with FXIFY. Ady milk 1 grand with them {image}
Nobody knows who is legit these days but you can't be much wrong going with FTMO and 5ers
  • #37,307
  • Jun 3, 2024 2:06am Jun 3, 2024 2:06am
Quoting Capablanca
{quote} Nobody knows who is legit these days but you can't be much wrong going with FTMO and 5ers
Will check 5ers, FTMO rules not suitable to my trading style

Thanks
Stay low, Go fast - No luck, All skill
  • #37,308
  • Jun 3, 2024 8:16am Jun 3, 2024 8:16am
Quoting tehtawar
{quote} Will check 5ers, FTMO rules not suitable to my trading style Thanks
fxify and smart prop trader is a good option too
Drawdown is more important than Account Size !
  • #37,309
  • Jun 3, 2024 8:32am Jun 3, 2024 8:32am
Quoting procrude
{quote} fxify and smart prop trader is a good option too
A warning that Smart Prop Trader demands compulsory youtube interview after total of payouts >10K and they can deny payouts and close the account if people refuse it.

"Upon successfully receiving $10,000 in payouts or more, Smart Prop Trader request that all traders conduct an interview on our Youtube channel."
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  • #37,310
  • Jun 3, 2024 9:14am Jun 3, 2024 9:14am
Quoting Capablanca
{quote} A warning that Smart Prop Trader demands compulsory youtube interview after total of payouts >10K and they can deny payouts and close the account if people refuse it. "Upon successfully receiving $10,000 in payouts or more, Smart Prop Trader request that all traders conduct an interview on our Youtube channel." {image}
I'll take the $10k and invest in other firms lol...f* the interview.
Drawdown is more important than Account Size !
  • #37,311
  • Jun 3, 2024 9:17am Jun 3, 2024 9:17am
Quoting tehtawar
{quote} Will check 5ers, FTMO rules not suitable to my trading style Thanks
Just curious but what rule would that be? I think the5ers have pretty similar (written) rules.
  • #37,312
  • Jun 3, 2024 9:17am Jun 3, 2024 9:17am
Apex servers crashed again. Latency issues way before the crash too(hint you can't see that in Ninja). These people are really f*in with customers. Again the problem have easy solution - go pay for more computing power to Rithmic.
Let's share some knowledge. There is a workaround for those who want to pay for proper data. The connection can be split for data and orders. Getting data from one provider and sending just the orders through Rithmic connection. Of course you will need a proper software too. Sierra Chart (Denali data) is better and pricier option, with Quantower (dxFeed) can be done cheaper.
  • #37,313
  • Jun 3, 2024 9:21am Jun 3, 2024 9:21am
Quoting procrude
{quote} I'll take the $10k and invest in other firms lol...f* the interview.
I'll do the interview wearing a mask.
  • #37,314
  • Jun 3, 2024 9:37am Jun 3, 2024 9:37am
Quoting woody70
{quote} I'll do the interview wearing a mask.

And talking like 6 years old kid that just started learning English at school and needs google translate for every question.
On the top of it you may add a tone so interesting as someone narrating the grass growth in the garden.

I wanted to see them publishing it.
  • #37,315
  • Jun 3, 2024 9:38am Jun 3, 2024 9:38am
Quoting fx_rookie
Apex servers crashed again. Latency issues way before the crash too(hint you can't see that in Ninja). These people are really f*in with customers. Again the problem have easy solution - go pay for more computing power to Rithmic. Let's share some knowledge. There is a workaround for those who want to pay for proper data. The connection can be split for data and orders. Getting data from one provider and sending just the orders through Rithmic connection. Of course you will need a proper software too. Sierra Chart (Denali data) is better and pricier...
We can't complain with 250K promo. Imagine if one puts 27 lots on 20 accounts using trade copier with limits and stops. Any system will crash.
  • #37,316
  • Jun 3, 2024 9:40am Jun 3, 2024 9:40am
Quoting Capablanca
{quote} And talking like 6 years old kid that just started learning English at school and needs google translate for every question. On the top of it you may add a tone so interesting as someone narrating the grass growth in the garden. I wanted to see them publishing it.
  • #37,317
  • Jun 3, 2024 9:49am Jun 3, 2024 9:49am
Quoting Capablanca
{quote} A warning that Smart Prop Trader demands compulsory youtube interview after total of payouts >10K and they can deny payouts and close the account if people refuse it. "Upon successfully receiving $10,000 in payouts or more, Smart Prop Trader request that all traders conduct an interview on our Youtube channel." {image}
I did see on twitter not to long ago, someone slamming them for this compulsory video requirement., they came back and said that is no longer required.
  • #37,318
  • Jun 3, 2024 10:09am Jun 3, 2024 10:09am
Quoting maltrader
{quote} Just curious but what rule would that be? I think the5ers have pretty similar (written) rules.
News trading ofc
Stay low, Go fast - No luck, All skill
  • #37,319
  • Jun 3, 2024 10:17am Jun 3, 2024 10:17am
Quoting fx_rookie
Apex servers crashed again. Latency issues way before the crash too(hint you can't see that in Ninja). These people are really f*in with customers. Again the problem have easy solution - go pay for more computing power to Rithmic. Let's share some knowledge. There is a workaround for those who want to pay for proper data. The connection can be split for data and orders. Getting data from one provider and sending just the orders through Rithmic connection. Of course you will need a proper software too. Sierra Chart (Denali data) is better and pricier...
Once the 90% sale is over... the server issues will very likely also be over
  • #37,320
  • Jun 3, 2024 11:02am Jun 3, 2024 11:02am
For any of you futures traders in here, what's the difference between a personal account with AMP and one with Charles Schwab or TD Ameritrade? Can you trade the same way with all those accounts? is AMP different in some way?
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