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Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

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  • #11,781
  • Oct 25, 2022 12:45am Oct 25, 2022 12:45am
Quoting Htmrw
Hello all. for those here that have past prop trials ,what would you recommend as risk to get started . I was thinking 0.15% get...
What recommend as risk to get started
- It depends on:
1. Your RRR per trade.
2. Number of position/ pair your trading per day.
- It starts with your trading plan.
  • #11,782
  • Oct 25, 2022 12:48am Oct 25, 2022 12:48am
Quoting Htmrw
what would you recommend
-Risk is subjective. Strategies, R:R ratios and win-rates vary. Perhaps any specific suggestions might not be very helpful for you.

If you are an established trader, then you should be able to calculate proper risk based on your own style and approach. If you are not an established trader, then probably better to work on figuring things out first. Just my opinion.
  • #11,783
  • Oct 25, 2022 5:47am Oct 25, 2022 5:47am
I wonder why nobody is talking here about city trading imperium. Not tqlkimg about their 6month-12 month evaluation as it's garbage, but they have now ftmo like challanges with very good spreads, good prices and 45 days for each phase instead of 30. I do know they have a 9$ fee per lot which is doable. The funded challanges only go up to 50k tho.
  • #11,784
  • Oct 25, 2022 9:53am Oct 25, 2022 9:53am
Continuing my job and doc file with all the specs:
https://docs.google.com/spreadsheets...it?usp=sharing

Waiting prop firm answer me to doubts, I ask you:

1. MFF evaluation program: scale is 30%, which is the max AUM we can reach? not specified in website and discord, is it unlimited or max 2M?
2. MFF rapid, I read in discord that you can have up to 3 programs, so 300K AUM and merge them. So what happen if you buy since beginning 3 programs,
can you merge immediately and start with 300K? if yes, also the Live account they give you will be merged easily and just 1?
And, this program will give you the trouble to have 2 accounts... that means 2 logins. So, can one copy the signals from the DEMO to the Funded to trade just
1 time both?

thank you for your help.
in holiday till end of November
  • #11,785
  • Oct 25, 2022 10:29am Oct 25, 2022 10:29am
Quoting forexbali
Continuing my job and doc file with all the specs: https://docs.google.com/spreadsheets...it?usp=sharing Waiting prop firm answer me to doubts, I ask you: 1. MFF evaluation program: scale is 30%, which is the max AUM we can reach? not specified in website and discord, is it unlimited or max 2M? 2. MFF rapid, I read in discord that you can have up to 3 programs, so 300K AUM and merge them. So what happen if you buy since beginning 3 programs, can you merge immediately and start with 300K?...

dont touch rapid.. it sucks
  • #11,786
  • Oct 25, 2022 11:10am Oct 25, 2022 11:10am
Quoting Tobiazzek
I wonder why nobody is talking here about city trading imperium. Not tqlkimg about their 6month-12 month evaluation as it's garbage, but they have now ftmo like challanges with very good spreads, good prices and 45 days for each phase instead of 30. I do know they have a 9$ fee per lot which is doable. The funded challanges only go up to 50k tho.
Wasn't aware they had evaluations now. Strange thing, though, when I go to their site, regardless of which program I choose, all limks take me to the old standard pay more in a fee than the DD allowed model.
  • #11,787
  • Oct 25, 2022 11:31am Oct 25, 2022 11:31am
Quoting Takisd
{quote} dont touch rapid.. it sucks
please can you write more about WHY it sucks? explain please your opinion
in holiday till end of November
  • #11,788
  • Oct 25, 2022 12:00pm Oct 25, 2022 12:00pm
Quoting forexbali
{quote} please can you write more about WHY it sucks? explain please your opinion

It takes MONTHS to get a reasonable payout % and then its like slow to scale ... Its really a bad model but it was the original model, the model that the prop models were built upon.
  • #11,789
  • Oct 25, 2022 2:39pm Oct 25, 2022 2:39pm
Quoting Takisd
{quote} It takes MONTHS to get a reasonable payout % and then its like slow to scale ... Its really a bad model but it was the original model, the model that the prop models were built upon.
Yes I understand your point! very clear. Thank you! This will help me, thanks for feedback.

However I would like to know if it possible to merge 3 100K rapid, I read yes, and if the live funded account then will be merged also easily.

I guess MFF support is slow, for the large number of traders.

Yes the scale will be slow, assuming you have at some point 3 rapid of 100K, is like you will make 12% on 300K, or like 36% on 100K, and you get also 80% on max 10K per month you can accumulate, if all goes well, max 120K per year. Also to have 2 separate accounts will mean harder management of the two accounts, and a copier set up needed, if accepted by them.

Theoricaly, just because it is like an instant funding, can be acceptable only like main account as master and then you should replicate from there to other prop firms.

However, about the "evaluating" program of 300K, I read that you can scale up 30%, but which is the max you can reach? 1, 2M, or what? Unlimited?
I tried to search in all the faqs and discord, no way to understand it! Only for accelerate program is written the limit of AUM.
in holiday till end of November
  • #11,790
  • Oct 25, 2022 3:32pm Oct 25, 2022 3:32pm
Quoting forexbali
{quote} Yes I understand your point! very clear. Thank you! This will help me, thanks for feedback. However I would like to know if it possible to merge 3 100K rapid, I read yes, and if the live funded account then will be merged also easily. I guess MFF support is slow, for the large number of traders. Yes the scale will be slow, assuming you have at some point 3 rapid of 100K, is like you will make 12% on 300K, or like 36% on 100K, and you get also 80% on max 10K per month you can accumulate, if all goes well, max 120K per year. Also to have 2...

MFF support is pretty good. It is much better than it used to be.
  • #11,791
  • Oct 25, 2022 4:25pm Oct 25, 2022 4:25pm
Quoting pipmaster77
{quote} Wasn't aware they had evaluations now. Strange thing, though, when I go to their site, regardless of which program I choose, all limks take me to the old standard pay more in a fee than the DD allowed model.
Works for me. It's called the "Day Trading Challenge". You get 4% daily and 10% total DD. Need to reach 10% & 5% targets. BUT, you have 45 days for both phases. $50k account for $331. AND after you achieve 10% in 4 months profit split is 90% and account is scaled up 30%. IF you repeat the 4 month cycle 3 times, you'll get 100% profit split. The largest account is 50k and max funding is 200k. BUT they require SL on every position otherwise those won't be considered.
All in all an interesting offer.
  • #11,792
  • Oct 25, 2022 4:32pm Oct 25, 2022 4:32pm
Quoting Expo33
{quote} Traders With Edge https://traderswithedge.com/
I checked it. Nice program. But:

1. 3 review only on trustpilot, Delaware company, are they new? doesn't sound so good.
2. Stop Loss rule, difficult for scalper.

About the stop loss rule, there is a way with an EA, to place a stop loss for every of your trades in automatic to pass the stop rule of some nice program?
For example, there is one I like a lot in Funded Trading Plus, x2 scale, 5-10 stop, remove the daily stop at 10% profit, was my best one, but the stop rule
will block me.

How to place in automatic a stop loss in an easy way without an EA pop up, table, or whatever and always just trading fast with the buy-sell button of MT5?

if you can give me the best EA to solve this rule, I can try it on a demo.
in holiday till end of November
  • #11,793
  • Oct 25, 2022 9:32pm Oct 25, 2022 9:32pm
Quoting forexbali
I checked it. Nice program. But:
-1. Yes, they are very new. They are still updating their website/offers it seems, so I would personally hold off on trading with them for a bit until they get all of their ducks in a row and have some payout proofs. They do have a public forum and the founder is pretty active.

2. The stop-loss rule can be removed through customizable options. There are some really good options to choose from. You have to click on the 'purchase MT4/MT5' button to see the options.

Attached Image (click to enlarge)
Click to Enlarge Name: 2022-10-25_21-33-25.png Size: 17 KB


3. Yes, EA's exist for automatic placing of SL/TP. I use Ronz SLTP MT5. There is also an MT4 version.
  • #11,794
  • Oct 26, 2022 3:08am Oct 26, 2022 3:08am
Quoting Nsak3y
{quote}-1. Yes, they are very new. They are still updating their website/offers it seems, so I would personally hold off on trading with them for a bit until they get all of their ducks in a row and have some payout proofs. They do have a public forum and the founder is pretty active. 2. The stop-loss rule can be removed through customizable options. There are some really good options to choose from. You have to click on the 'purchase MT4/MT5' button to see the options. {image} 3. Yes, EA's exist for automatic placing of SL/TP. I use Ronz SLTP MT5....
Ronz SLTP MT5 I will test it
in holiday till end of November
  • #11,795
  • Oct 26, 2022 3:33am Oct 26, 2022 3:33am
Quoting OranJuice
{quote} Sorry for being unclear. I was not failed in terms of accounts, but I was denied the payouts. Thats my problem. Totalling in 19000$, for rules invented from thin air at the time of withdrawal.

The Prop Trading made this official in TrustPilot:

Dear xxx,
We would like to remember that you have been funded for several months in our company and always received payouts accordingly during this time.
However, your last payout was not approved because, unfortunately, the losses accrued on one of your accounts were greater than the profits made on another account (same time funded), which ended up in a negative net balance between your funded accounts.
As stated in our FAQ/Rules page : "What is Profit Share? Traders are entitled to 80% of the profit share resulting from your trading activities."
If you choose to trade multiple funded accounts simultaneously you are essencially accessing the same pool of capital at the same time with all the accounts. Therefore, in this specific case there was no profit to be shared.
You are able to continue trading and may request a new withdrawal once you are eligible.
Regards,
The Prop Trading Team


So, if a trader has 2 funded accounts, one with +5K and another with -7K, there's no payout as far as I understand from the generic rule they point out.

Having 2 x 100K account is treated like 1 x 200K account. This is a questionable behavior in my opinion. The Prop Trading should thus be avoided.
  • #11,796
  • Oct 26, 2022 3:48am Oct 26, 2022 3:48am
Quoting Capablanca
{quote} The Prop Trading made this official in TrustPilot: Dear xxx, We would like to remember that you have been funded for several months in our company and always received payouts accordingly during this time. However, your last payout was not approved because, unfortunately, the losses accrued on one of your accounts were greater than the profits made on another account (same time funded), which ended up in a negative net balance between your funded accounts. As stated in our FAQ/Rules page : "What is Profit Share? Traders are entitled to 80%...
They offer an unlimited number of accounts each up to 500k. It was too good to be true that this will not be restricted back to industry standards. While they should have been more upfront about it, as they pointed out the trader was paid several times without a problem. Now they have clarified the application of this rule. I don't think this is enough to boycott them. Especially since the solution is very simple for the trader: close the losing account and then automagically the trader will be eligible for the payout on the account in profit.
And from now on TPT's offer should be understood as the upper limit of funding is one 500k account so this rule won't be applicable. Or you can have several accounts at a known risk. Again, they should have been more upfront, but hand on heart which prop firm doesn't make up rules as they go? Even FTMO and MFF do that.
In fact, IIRC there was a discussion in this thread about the unlimited number of accounts and some of the senior posters here have pointed out that it's only a matter of time before they do something like this. So really, the most important conclusion here is to read this thread from the first post to the last and educate yourself before diving into the wild wild West of prop forex trading.
  • #11,797
  • Oct 26, 2022 5:03am Oct 26, 2022 5:03am
Quoting muir
{quote} They offer an unlimited number of accounts each up to 500k. It was too good to be true that this will not be restricted back to industry standards. While they should have been more upfront about it, as they pointed out the trader was paid several times without a problem. Now they have clarified the application of this rule. I don't think this is enough to boycott them. Especially since the solution is very simple for the trader: close the losing account and then automagically the trader will be eligible for the payout on the account in profit....

1. I don't see how your simple solutions can be applied: "close the losing account and then automagically the trader will be eligible for the payout".
You can't close an account unless you bust it, violate rules or request them.

2. Even if you do that, the rule is so generic that they can bend it as they wish.

Example:
You have 2 x 100K accounts.
You bust account 1: -10K and it's closed (but this was "trading activities")
You make a profit in account: +2K (this is also "trading activities")

Now they can say: "Traders are entitled to 80% of the profit share resulting from your trading activities."

So what was your trading activity ?
I was -10K +2K. You are -8K so you are not entitled to any payout. The rule can be used as they wish.
  • #11,798
  • Oct 26, 2022 6:20am Oct 26, 2022 6:20am
Quoting Capablanca
{quote} The Prop Trading made this official in TrustPilot: Dear xxx, We would like to remember that you have been funded for several months in our company and always received payouts accordingly during this time. However, your last payout was not approved because, unfortunately, the losses accrued on one of your accounts were greater than the profits made on another account (same time funded), which ended up in a negative net balance between your funded accounts. As stated in our FAQ/Rules page : "What is Profit Share? Traders are entitled to 80%...
I 100% agree with you here, and I called them out for it.

The fact that multiple live accounts are treated with a common P/L is something that MUST be in the contract. Otherwise, how the heck is the trader supposed to know such rule?

Its easy to point this supposed "rule" after the fact the trader has made 19000$ of profits. Extremely fishy, and deceptive behavior.

Failing traders based on rules that does not exist in the contract is deceptive and dishonest. They are literally the only firm that have this weird rule. Even if they have piad paid some payments before that, this does not justify them denying my payout based on rules that did not exist in the contract at all form the first place.
  • #11,799
  • Oct 26, 2022 6:23am Oct 26, 2022 6:23am
Quoting muir
{quote} They offer an unlimited number of accounts each up to 500k. It was too good to be true that this will not be restricted back to industry standards. While they should have been more upfront about it, as they pointed out the trader was paid several times without a problem. Now they have clarified the application of this rule. I don't think this is enough to boycott them. Especially since the solution is very simple for the trader: close the losing account and then automagically the trader will be eligible for the payout on the account in profit....
I dont agree with you there. Again, for a prop firm to deny users payouts based on rules that the trader had no way of possibly knowing is unethical, deceptive and extremely questionable business conduct.

Until they pay me out , my review will remain to alert others of their fishy behavior.

And I advise anyone to treat firm like the black pest and stay away from it until further notice.
  • #11,800
  • Oct 26, 2022 11:05am Oct 26, 2022 11:05am
Quoting Capablanca
{quote} 1. I don't see how your simple solutions can be applied: "close the losing account and then automagically the trader will be eligible for the payout". You can't close an account unless you bust it, violate rules or request them. 2. Even if you do that, the rule is so generic that they can bend it as they wish. Example: You have 2 x 100K accounts. You bust account 1: -10K and it's closed (but this was "trading activities") You make a profit in account: +2K (this is also "trading activities") Now they can say: "Traders are entitled to 80%...
Agree one should have only one live account to be safer as rules are not clearly defined for multiple live accounts.
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