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  • #4,341
  • Oct 1, 2021 8:34am Oct 1, 2021 8:34am
Quoting HoLoTrader
{quote} I am totally agree with you. My only concern is: What will happen when the flow of people in "prop firms" giving you demo accounts will end? Where they will take money for paying all the traders and the costs associated with running such business? They are not an hedge fund neither a financial institutions, they don't have any kind of regulation. I see it just as a pyramid where the people at the base holds the whole structure with their fees. What when the flow of people will cease holding the structure?
why do i care? bank as much as u can till the dust settles..push comes to shuv, u trade ur own account after and even whilst trading for the props. i bet u can grow ur personal accoun way faster and exponentially with the help of the props rather hen just trying to put money aside urself from ur day job..i dunno, i just see it that way
or u can continue with the likes of Lux afterwards, it s a win win for now, u get the challenge fee back, house money no risk..if u think about the wars and pandemics to come u ll never do anything..che sera sera
  • #4,342
  • Oct 1, 2021 8:34am Oct 1, 2021 8:34am
Quoting pipmaster77
{quote} So same thoughts on MFF as well I imagine? However, you believe LUX to be a long term solution? Just trying to understand your thought process.

The thought process is they think that people who have strict rules are not b booking. When infact, there is no money to be made a-booking those trades with that limitation. It is more likely that all trades are booked it leverage is restrictive and the limits are even more restrictive in this environment because failure is a more likely constant.
  • #4,343
  • Oct 1, 2021 8:48am Oct 1, 2021 8:48am
Quoting mcquak
Update on Blue Edge
-Thanks for sharing. Is the discord only available to people that have signed up? I am currently still waiting for answers regarding a few more questions before I sign up.

Quoting HoLoTrader
I see them as a cards castle.
-The way that I see it is, even if a firm is not pushing all (or any) trades to a live market, so long as the challenge fee is refundable and the trades can be sent to a trade copier, then it doesn't really matter. All risk is eliminated once you get your refund, and by having another income source, you are able to mitigate risk by way of diversification, while also minimizing risk relative to overall profit-potential.

Most of these prop firm offerings are a no-brainer, in my opinion.
  • #4,344
  • Edited 3:37pm Oct 1, 2021 9:38am | Edited 3:37pm
Quoting Nsak3y
Thanks for sharing. Is the discord only available to people that have signed up? I am currently still waiting for answers regarding a few more questions before I sign up.
It seems like that, yes. But apart from the Announcements channel (which is actually the only channel in BEF's discord and read-only anyway), there is not any ongoing discussion whatsoever.

If you sent an email to them, try rather online chat, it's more responsive.

Quoting HoLoTrader
{quote} I have done a lot of research, Lux Trading it's a prop trading department of Chelton Wealth. Chelton Wealth it's real, and has all the regulations for operating on the financial markets. They are near 70kk under management. Under 100 millions of aum, we are talking about a small Hedge Fund so. But at least it's real and regulated. Talking about other firms, where are all those public data? I want to see their assets under management and their regulations. Where are them. Without all those informations i simply can't see them as a professional...
This discussion was already held here some time ago. Most of the guys here just considering fees, available drawdowns, and leverage. Nothing else. Which is fine up until the point when someone starts persuading me with unrequested advice that my choice is wrong and foolish, and his intelligently calculated option is much better.

I'm perhaps a more complicated person than the majority here because I'm inclining rather to something more genuine. Hence LUX is quite the only real option for me.
Some time ago I was also considering The5ers, but they allow trading only Forex pairs and nothing else, which does not suit my trading strategy. Hence I enrolled on T4T but it has quite bad trading conditions (high commissions, quite high margin requirements for CFDs which is really bad considering max 2% weekly DD etc.) and this was really a mistake I made.

But my secret sin exists: for enjoying the betting games I also enrolled on BEF's eval .
  • #4,345
  • Oct 1, 2021 11:41am Oct 1, 2021 11:41am
@ pipmaster

You mentioned you only use 1.5:1 leverage and have routinely hit 10% in a month to pass 6 challenges?!?!?... How is this possible? Are your stops massive + you have a ton of trades per day or did you mean 1.5:1 win to loss?
  • #4,346
  • Oct 1, 2021 12:37pm Oct 1, 2021 12:37pm
Quoting pipmaster77
{quote} I share all of my real experiences, by the end of October will have 300K with MFF and 400K with FTMO. I also feel obliged to steer people away from what are clear rip offs. Paying more in a fee than what you are allowed to lose simply doesn't make sense. No matter how you spin it.
well done and great going.
Intraday only.
  • #4,347
  • Oct 1, 2021 12:58pm Oct 1, 2021 12:58pm
Quoting HoLoTrader
{quote} Even Madoff went very well for a lot of time.. I don't think it's a viable long term solution, 50% because for all the reason stated by Koop. 50% because of it's ambiguous and unclear nature. I see them as a cards castle.
And Madoff was regulated with the SEC and was a leading Financial figure. "He started his own market-maker firm in 1960 and helped launch the Nasdaq stock market. He sat on the board of National Association of Securities Dealers and advised the Securities and Exchange Commission on trading securities"

So I would say regulation didn't mean a lot for those people caught up in it.
  • #4,348
  • Oct 1, 2021 1:07pm Oct 1, 2021 1:07pm
My wife just got 600k live at MFF... money money money.... moneyyyyyyyyyyyyyy
  • #4,349
  • Oct 1, 2021 1:16pm Oct 1, 2021 1:16pm
Quoting Takisd
My wife just got 600k live at MFF... money money money.... moneyyyyyyyyyyyyyy
Haha that means its you
  • #4,350
  • Oct 1, 2021 1:20pm Oct 1, 2021 1:20pm
My dog just got 6 billion funding from MFbullshit prop fund..money money moneyyyyy yay
Allergic to bullshitters, never argue with fools
  • #4,351
  • Oct 1, 2021 1:31pm Oct 1, 2021 1:31pm
Besides 5ers not having indices, how do they compare versus Lux?
  • #4,352
  • Edited Oct 2, 2021 2:55am Oct 1, 2021 1:40pm | Edited Oct 2, 2021 2:55am
Quoting Muhammedfx
My dog just got 6 billion funding from MFbullshit prop fund..money money moneyyyyy yay
Are you sure it was a dog? The 300 pips drawdown looks rather like monkey trading to me.

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  • #4,353
  • Oct 1, 2021 1:41pm Oct 1, 2021 1:41pm
Quoting Muhammedfx
My dog just got 6 billion funding from MFbullshit prop fund..money money moneyyyyy yay

Hahaha, your tears of anguish sustain me commercial member.
  • #4,354
  • Edited 4:07pm Oct 1, 2021 3:56pm | Edited 4:07pm
Quoting HoLoTrader
{quote} I have done a lot of research, Lux Trading it's a prop trading department of Chelton Wealth. Chelton Wealth it's real, and has all the regulations for operating on the financial markets. They are near 70kk under management. Under 100 millions of aum, we are talking about a small Hedge Fund so. But at least it's real and regulated. Talking about other firms, where are all those public data? I want to see their assets under management and their regulations. Where are them. Without all those informations i simply can't see them as a professional...
Hmm..

Research the firm, "Long Term Capital Management"

I think I may know where youre coming from, but I really feel Pipmaster makes very salient points about approaching trading for online prop firms. Dont you reckon he has a legitimate perspective at all?
  • #4,355
  • Oct 1, 2021 5:56pm Oct 1, 2021 5:56pm
Quoting sampat
{quote} Agreed it is just they want to take money and go away. I have 10K profits with them and suddenly they change rule and give only 25% of that looks I will be lucky if I get that. I can understand rule changes moving forward but they change rule suddenly for already existing profits is unacceptable. Just couple of weeks back they introduced fast reset pass just to scam people around.
Any half decent prop firm would advertise any rule changes well in advance.

Failing to do so simply turns traders away in droves.

Masterrmind ........
Master your Mind then Master your Trades
  • #4,356
  • Edited 7:53am Oct 2, 2021 7:26am | Edited 7:53am
Quoting Thoughts
{quote}Hmm.. Research the firm, "Long Term Capital Management" I think I may know where youre coming from, but I really feel Pipmaster makes very salient points about approaching trading for online prop firms. Dont you reckon he has a legitimate perspective at all?

You, with another guy, are digging biased things to validate your arguments for get a better night's sleep. I don't really care at all who do you think it's the "best". Me too i trade with FTMO and have accelerated acc on MFF.

but

relying your life and financial independence only on those amibguous companies it's dumb. Period. Here is a screen from mff's faq question.
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Camon. what is this BS. We don't manage their funds. ok, lol. So.

What kind of company is that.
Where the money comes from.
Who are the guys behind MFF.
What is their technical and professional background in the financial markets.
Where can i see some kind of data.
Where are their offices.
Where are the regulations.

I repeat:

As long as i milk them and they pay me, no problem. But, from a rational and objective standpoint i know they are not serious and affordable companies. Period

If you are serious about trading, you should aim to work with those people:

https://www.linkedin.com/in/david-cu...alSubdomain=au

It is possible to work with them and to manage also 50kk portfolios. But guess what: Your DD must not go never beyond 4% relative, and you need to be audited by Professionals. Things that retails doesn't like.

I have understood also that the prevaling trend in this thread at the end it's to find the less expensive fee with the largest possible DD for start working with ambiguous companies with less 20 years of experience. So i will not link the website where you can start from to even get in touch with those guys. (you can find it alone if you're interested)


My last reply about this argument. Trade well.
  • #4,357
  • Oct 2, 2021 7:49am Oct 2, 2021 7:49am
Quoting HoLoTrader
{quote} As long as i milk them and they pay me, no problem. But, from a rational and objective standpoint i know they are not serious and affordable companies. Period My last reply about this argument. Trade well.
that's the point. be smart and collect profits as fast and as much as you can.
this business model isn't stable. any company may suddenly disappear.
  • #4,358
  • Oct 2, 2021 12:01pm Oct 2, 2021 12:01pm
Hey, fellow nutbags. I've been super busy with life stuff but I've been reading all the posts every night before bed. Wow, I've never seen so much obsession with leverage and math calculations. Personally, I've never been trading with ANY prop firm and said, "gee, if I only had more leverage I could lose money faster".

But anyway, I see sexy jiggling Jessica decided to bow out of the game disgracefully. I'm glad I was "in and out" with her (pun intended)

And now for the update you've all been waiting for!!!

Deceptive DT4X TRADER UPDATE:

So as you know if you've been following my epic DT4X journey, I made the 5% profit withdrawal level and got paid the 60% of the $1250 profit on my 25K account. Well played Mr. Mark.

Then, a few days later I reached the 10% scaling up level. BOOM!!!! Account to scale up to 50K baby, OR IS IT??? Not so fast sexy expo33.

I contacted Mark to ask him if I needed to send an email to let them know of my amazing 10% profit trading prowess. He pleasantly informed me of their term and conditions for scaling up. Of course, I rarely read the TC's. Not fraud but certainly deceptive marketing. Well played Mr. "MARKeter" (pun intended)

FROM THEIR PRICING PAGE - Awesome!!! You mean I scale up when I earn 10%? Cool beans!
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FROM THEIR FAQ PAGE - Awesome!!! So I can scale up quickly and go to the next level as soon as I reach 10%? Cool beans!
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FROM THEIR TERMS AND CONDITIONS PAGE -Awesome!!! So you mean when I reach the 10% scaling level you will subjectively review my trading after 3 months and decide if I get scaled up?? Not cool beans!
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MYFXBOOK JUST FOR SHITS AND GIGGLES
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Pride always comes before destruction.... -Proverbs 16:18
  • #4,359
  • Oct 2, 2021 12:05pm Oct 2, 2021 12:05pm
I liked your representation.
Allergic to bullshitters, never argue with fools
  • #4,360
  • Oct 2, 2021 4:48pm Oct 2, 2021 4:48pm
Quoting HoLoTrader
{quote} ..If you are serious about trading, you should aim to work with those people..
I just might have a little more exposure in finance and trading than you think...and I sincerely thought I could help you see some value in a counter perspective to yours, either from the math angle or from the notion that "bigger" is not necessarily "better". You remain free to do as you please..
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