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  • #43,941
  • Oct 29, 2024 2:49am Oct 29, 2024 2:49am
Quoting Nsak3y
{quote}-Generally speaking, licensing and registration requirements may vary, depending on country. For US traders that are acting as investment advisor or managing a fund, other people's money and/or executing trades on behalf of others for a fee or percentage of profits etc., then some requirements may be necessary. Whether or not you need to register with the state, the SEC, the NFA et al. may depend on the type of trading, the clients' asset classes and/or amount of AUM involved etc.. What may be required and what is actually enforced may be...
If you as a trader are soliciting for money from people in the street , yes , you require some form of licensing
BUT the prop’s themselves are looking for people to trade their money , the other way around ,and that makes the big difference

Unlike futures/CFD’s/Forex prop’s , prop stock trading requires you to pass some exams to be able to join

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  • #43,942
  • Edited 3:22am Oct 29, 2024 2:54am | Edited 3:22am
Quoting Expo33
{quote} Prop firm CEO {image} TRANdy: Where do I sign up? The math looks good
Damn, yes , the math looks good , let’s look at the 100K 2 phase , only $350 for a $10K drawdown, 90% profit split , only 7%, 5% profit target

the better the math looks , the more cautious you have to be , so an inverse correlation

A ponzi doomed to fail from the start

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  • #43,943
  • Edited 3:28am Oct 29, 2024 3:14am | Edited 3:28am
Quoting TrAndy1
. "This prop firm is the worst i have seen… They denied me 3 payouts: 1. 7.8k denied i modified my SL 23 seconds after i opened my trade, gotta thank ctrader and their quicktrade function, even tho this rule doesnt make no sense. 2. 11.5k denied because i modified my TP during an all day red folder "jackson hole symposium" which didnt even affect no trading pair at all, then they put emphasis on risk management, how should a trader protect themselves if you put these dumb...

These are the size of payouts you can expect ftom FTMO but why would you expect that kind of payouts from a prop firm with this kind of traffic ( down there with your beloved Bespoke) which translates into fees received ????
40 times less traffic than FTMO …. Just use some common sense , my boy

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how much did you make in the end ?
  • #43,944
  • Oct 29, 2024 3:21am Oct 29, 2024 3:21am
Quoting Stoneyrocks
{quote} These are the size of payouts you can expect ftom FTMO but why would you expect that kind of payouts from a prop firm with this kind of traffic ( down there with your beloved Bespoke) which translates into fees received ???? Just use some common sense , my boy {image} how much did you make in the end ?
As I said I made a lot of money from those props. They turned to be worse just recently a few months ago. Before they did payouts with no issues. Do not forget that.
My net result in total, is €70000 payouts net from prop firms. And net €50000 from my hedge fund remote trading activity I got. So in total here €120000. That's it.
  • #43,945
  • Oct 29, 2024 3:25am Oct 29, 2024 3:25am
I am out of the prop firm game ! This last payout request I get or not it does not matter. I do not want to put any further money into buying challenges anymore. Good luck to anyone else ! It is a Ponzi game and all the newer prop firms got after some 6 months huge problems to operate properly further. Only headaches you can get from those. Also regulation will come early 2025, so do not expect it will be much better. It will be more expensive very probably to join any prop firm then. Cheers.
  • #43,946
  • Oct 29, 2024 3:45am Oct 29, 2024 3:45am
Quoting TrAndy1
{quote} As I said I made a lot of money from those props.
Quoting TrAndy1
I am out of the prop firm game !.
Only 5 minutes between those posts ,I am trying hard to understand this ??!
  • #43,947
  • Oct 29, 2024 4:02am Oct 29, 2024 4:02am
Quoting TrAndy1
One of latest 1 star reviews from a German regarding Quant Tekel. Not looking good really. Too bad for me probably. I did not get any email so far. "This prop firm is the worst i have seen… This prop firm is the worst i have seen in my 4 years trading. They started normally, then slowly started to degrade. I thought at first that they would be a normal prop firm, they had no weird rules, just the usual, so i gave it a try since they had a 50% discount. (they still have a 50%...
I never tested them but Quant Tekel is a red flag when they have this min duration rule. It's enough 1 single mistake out of 100 trades to fck up everything. And we are humans, we're not machines. Mistakes happen.

For the All day, I avoid trading those instruments. Tomorrow with CPI Germany it's one of those days. No EURUSD, no EURGBP.... I play on the safe side.

The no SL it depends on if the trader never had SL or just once. They say it's not mandatory but it's advised, which is what most of the props say. I tend to include SLs in most of the orders, though not in all.
  • #43,948
  • Oct 29, 2024 4:06am Oct 29, 2024 4:06am
Quoting TrAndy1
I am out of the prop firm game ! This last payout request I get or not it does not matter. I do not want to put any further money into buying challenges anymore. Good luck to anyone else ! It is a Ponzi game and all the newer prop firms got after some 6 months huge problems to operate properly further. Only headaches you can get from those. Also regulation will come early 2025, so do not expect it will be much better. It will be more expensive very probably to join any prop firm then. Cheers.
I'm still milking them and it's still worthwhile. I just don't concentrate my portfolio in a single prop and keep accounts up to 200K and payouts low, 4 figures low or medium. Even in more shady props like Alpha or FXIFY.
  • #43,949
  • Oct 29, 2024 4:12am Oct 29, 2024 4:12am
By the way, for those interested, I received yesterday the payout from Fintokei. Approval took about 8 hours and I could go back to trading after approval. Bank wire came today, as well as the fee refund.

I noticed, though, that they charged about 15 USD for the transfer. I'm not going to complain about that but I think it's a rip off (cheaper, though, than crypto which is way more expensive).
  • #43,950
  • Oct 29, 2024 5:34am Oct 29, 2024 5:34am
Quoting Capablanca
By the way, for those interested, I received yesterday the payout from Fintokei. Approval took about 8 hours and I could go back to trading after approval. Bank wire came today, as well as the fee refund. I noticed, though, that they charged about 15 USD for the transfer. I'm not going to complain about that but I think it's a rip off (cheaper, though, than crypto which is way more expensive).
Are they pretty strict in evaluation. Their FAQ seems to be scary (ofcourse one cannot YOLO on 1 or 2 trades) but still.....Do they have automatic moving of phases or like audacity where they manually review each stage and takes 3 business days to analyze
https://support.fintokei.com/en/arti...sive-averaging
  • #43,951
  • Oct 29, 2024 5:42am Oct 29, 2024 5:42am
I fail to understand why people move away from FTMO, FXIFY and 5 ers.

Less rules to pass evaluation.

And as long as one aims less than 5 to 6 % monthly in Funded, no problems with them.
Intraday only.
  • #43,952
  • Oct 29, 2024 5:46am Oct 29, 2024 5:46am
Quoting TrAndy1
One of latest 1 star reviews from a German regarding Quant Tekel. Not looking good really. Too bad for me probably. I did not get any email so far. "This prop firm is the worst i have seen… This prop firm is the worst i have seen in my 4 years trading. They started normally, then slowly started to degrade. I thought at first that they would be a normal prop firm, they had no weird rules, just the usual, so i gave it a try since they had a 50% discount. (they still have a 50%...
Well, I finally received my email about the funded migration. They'll only migrate if I agree to wipe away all profits due to changing my SL 17s after the trade was placed, violating their 15s rule. I don't think they had the rule in place at that time (somewhere early August) but I have no evidence. Thinking of just ignoring it and forfeiting the account rather than dealing with their bullshit.
The accumulated payout was from end June.
  • #43,953
  • Oct 29, 2024 5:50am Oct 29, 2024 5:50am
Quoting navk
I fail to understand why people move away from FTMO, FXIFY and 5 ers. Less rules to pass evaluation. And as long as one aims less than 5 to 6 % monthly in Funded, no problems with them.
Because they are maxed out . 5ers and FTMO together only 500K of allocation but you can't get 5-6% out of them they will ban you for too aggressive trading so you need more capital. If you add blueberry, think capital, audacity, fintokai, instantfunding etc you will have around 2 million of max funding take 1% monthly from all these firms they won't ban you and milk them on background like capa is doing.
Also if firm is new it is great opportunity to jump compare it with fasttrackfunding. For those how were early adopters milk them but those who waited for confirmation before jumping in got screwed. Of course one needs to play with houses money to do these kind of things.
  • #43,954
  • Oct 29, 2024 5:56am Oct 29, 2024 5:56am
Quoting sampat
{quote} Because they are maxed out . 5ers and FTMO together only 500K of allocation but you can't get 5-6% out of them they will ban you for too aggressive trading so you need more capital. If you add blueberry, think capital, audacity, fintokai, instantfunding etc you will have around 2 million of max funding take 1% monthly from all these firms they won't ban you and milk them.
5 to 6 % is not so aggressive IMO.

If you ask me, I will spread out like this.

2x100 FTMO 10k payout max
2X100 FXIFY 10 k payout max
1X100 5ers. 5 k payout max.

If not, aim 3 % monthly, that means 9k.

Take 9k each month and work on it for 6 months.

Then open personal account
Intraday only.
  • #43,955
  • Oct 29, 2024 6:03am Oct 29, 2024 6:03am
Quoting navk
{quote} 5 to 6 % is not so aggressive IMO. If you ask me, I will spread out like this. 2x100 FTMO 10k payout max 2X100 FXIFY 10 k payout max 1X100 5ers. 5 k payout max. If not, aim 3 % monthly, that means 9k. Take 9k each month and work on it for 6 months. Then open personal account
Agree but compare it with this things.
Add 10 firms withdraw 500$ to 1K each firm which one do you think is easier and chances of denied payouts?
Do you think making 10K in 2-3 firms easier than 10K in 10 firms?
How about tomorrow FTMO comes and ban canada?
How about periods of drawdown?
Which one will be under radar 10K from 3 firms or 500-1000$ on 10 firms.
  • #43,956
  • Oct 29, 2024 6:36am Oct 29, 2024 6:36am
Quoting sampat
{quote} Are they pretty strict in evaluation. Their FAQ seems to be scary (ofcourse one cannot YOLO on 1 or 2 trades) but still.....Do they have automatic moving of phases or like audacity where they manually review each stage and takes 3 business days to analyze https://support.fintokei.com/en/arti...sive-averaging
I can't reply about that because my phase 1 and 2 usually take weeks and plenty of trades so I guess they won't bother me about not having enough stuff to decide.

Moving from phase 1 to 2 was automatic. After completing phase 2 I received an email congratulating me (I think 1 or 2 hours after) and the link for KYC. Less than an hour after doing it I received funded credentials. So it was pretty fast.

I didn't know about that Audacity. I'm still in phase 1.
  • #43,957
  • Oct 29, 2024 6:37am Oct 29, 2024 6:37am
Quoting navk
I fail to understand why people move away from FTMO, FXIFY and 5 ers. Less rules to pass evaluation. And as long as one aims less than 5 to 6 % monthly in Funded, no problems with them.
Because there's still a lot of cows to be milked in this field. And because if one cow dies, I still get milk from the others.
  • #43,958
  • Oct 29, 2024 6:39am Oct 29, 2024 6:39am
Quoting maltrader
{quote} Well, I finally received my email about the funded migration. They'll only migrate if I agree to wipe away all profits due to changing my SL 17s after the trade was placed, violating their 15s rule. I don't think they had the rule in place at that time (somewhere early August) but I have no evidence. Thinking of just ignoring it and forfeiting the account rather than dealing with their bullshit. The accumulated payout was from end June.
It's not worth to fight against scammers but if you want to see the previous rules you can try to see that page in https://web.archive.org/
  • #43,959
  • Oct 29, 2024 6:48am Oct 29, 2024 6:48am
Quoting Capablanca
{quote} Because there's still a lot of cows to be milked in this field. And because if one cow dies, I still get milk from the others.
With many firms to do evals and or funded, how do you manage all ?

I remember cablej was saying once, that he trades maximum 2 to 3 accounts at a time, and then after making certain % profit, he moves to next firm.
Intraday only.
  • #43,960
  • Oct 29, 2024 7:21am Oct 29, 2024 7:21am
Quoting navk
{quote} With many firms to do evals and or funded, how do you manage all ? I remember cablej was saying once, that he trades maximum 2 to 3 accounts at a time, and then after making certain % profit, he moves to next firm.
Many of my trades last for days. I'm not a guy that makes 50 trades a day.
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