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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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  • #13,681
  • Jan 31, 2023 1:01pm Jan 31, 2023 1:01pm
Quoting Expo33
Decided to try out MyFundedForex. Not sure what broker they are using but it says "ForeignExchangeClearingHouse" on my Meta4. Signed up for the 1-step evaluation. I used the discount code below. {image} Got my credentials instantaneously. Frankurt open spreads below aren't too bad. I'm sure they will tighten up during the London session. {image} I'll report back on my experience
They are planning to propose a new broker in February. That will be Eightcap (server 2 I think)
  • #13,682
  • Jan 31, 2023 1:03pm Jan 31, 2023 1:03pm
Quoting HengkiTjen
Hi folks Anyone experienced trading funded account while travelling fews countries? I just worried got banned TFF, MFF and FTMO
Absolutely not recommended. But you can write them and can let them know that you will be traveling by specifying the exact locations and the dates.
  • #13,683
  • Feb 1, 2023 12:18am Feb 1, 2023 12:18am
Quoting Takisd
{quote} Becareful, they got caught selling user data.
Yea I heard that.

Other than emails what else are they selling?
Pride always comes before destruction.... -Proverbs 16:18
  • #13,684
  • Feb 1, 2023 12:23am Feb 1, 2023 12:23am
Quoting Vitore
{quote} US500 spread looks terribly wide, useless for indices intraday trading
To be fair this screenshot is 7 1/2 before the US stock market opens. I'll try to get a screenshot in the morning during the NY session.
Pride always comes before destruction.... -Proverbs 16:18
  • #13,685
  • Feb 1, 2023 3:59am Feb 1, 2023 3:59am
Quoting Expo33
{quote} Yea I heard that. Other than emails what else are they selling?
Think ahead. Once you're funded you have to submit KYC documentation.
  • #13,686
  • Feb 1, 2023 4:33am Feb 1, 2023 4:33am
Well looks like the fun will be over soon at Evertrader. Just got this email:

Two weeks ago we became the first and only prop company ever to introduce a registration fee refund immediately after completing Phase 1 and we are literally overwhelmed by your enthusiasm and feedback. Although it is absolutely not easy (as many have started to use this to their mathematical advantage), we will do our best to keep this benefit for you. We refund the registration fees to the traders as quickly as possible. Traders at EverTrader get their registration fee back right after Phase 1 and in the next phases they literally have nothing to lose.
Consistency rule: traders who pass Evaluation based on only a few large trades (even one or two) typically lose their EverAccount extremely fast (surprisingly, sometimes in a matter of hours). Because of this, from now on, we are increasing our focus on this. During the manual review, our review desk will closely monitor your trading and will focus on your consistency throughout the entire program
Profit target: we have decided to follow the standard of the entire market and will increase the profit target in the first phase to 10%
  • #13,687
  • Feb 1, 2023 4:57am Feb 1, 2023 4:57am
I am funded with Evertrader, by now 8% profit since few days. I trade aggressive strategy, I will update in few weeks how they will approach my trading style. All trades opened manually. I also spoke to chat when new changes was made and chat confirmed that it not going affect me bacuse I signed up earlier.
  • #13,688
  • Feb 1, 2023 6:41am Feb 1, 2023 6:41am
Quoting Takisd
{quote} Becareful, they got caught selling user data.
Do we have real proof or are these just suspicions ?
  • #13,689
  • Feb 1, 2023 7:01am Feb 1, 2023 7:01am
Quoting youngD
I am funded with Evertrader, by now 8% profit since few days. I trade aggressive strategy, I will update in few weeks how they will approach my trading style. All trades opened manually. I also spoke to chat when new changes was made and chat confirmed that it not going affect me bacuse I signed up earlier.
Well done indeed. Will be interesting to see how they apply new consistency rule. Trouble with so many of these new prop firms is that they look for more and more ways to knock out traders
  • #13,690
  • Feb 1, 2023 8:30am Feb 1, 2023 8:30am
Quoting Nehemah
{quote} Do we have real proof or are these just suspicions ?
They were caught by the affiliates.

Its pretty commonly known now, I dont want to paste links to an affiliate site but you can probably google it and find.

Right now I have a personal rule, no more eightcap firms. Its too dodgy now to the point that eightcaps business is pretty much only prop firm demo accounts.
  • #13,691
  • Edited 11:51am Feb 1, 2023 9:23am | Edited 11:51am
On MFF demo, gold, bitcoin and US30 have been frozen for about 20 minutes after red news, is this normal or not?


Edited
Sorry, My mistake, I didn't properly set up the newly installed MT4... when I saw that everything was working properly on my mobile phone, knew it was my fault...
  • #13,692
  • Feb 1, 2023 11:29am Feb 1, 2023 11:29am
Quoting noox
{quote} Think ahead. Once you're funded you have to submit KYC documentation.
I'll blow up long before any funding.

I'm 2 steps ahead of you
Pride always comes before destruction.... -Proverbs 16:18
  • #13,693
  • Feb 1, 2023 11:31am Feb 1, 2023 11:31am
Quoting Vitore
{quote} US500 spread looks terribly wide, useless for indices intraday trading
Here's a screenshot of the SP500 2 hours into the actual US stock market session.
Attached Image (click to enlarge)
Click to Enlarge Name: SPREADS.jpg Size: 152 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #13,694
  • Feb 1, 2023 12:16pm Feb 1, 2023 12:16pm
Quoting noox
{quote} Think ahead. Once you're funded you have to submit KYC documentation.
That's one of the biggest risk we take.
I guess that email and phone may be valuable if sold in batches but selling things like passport copies, utility bills, etc. it's much more valuable and tempting.
Who knows where our document copies are....
  • #13,695
  • Feb 1, 2023 12:28pm Feb 1, 2023 12:28pm
Quoting Capablanca
{quote} That's one of the biggest risk we take. I guess that email and phone may be valuable if sold in batches but selling things like passport copies, utility bills, etc. it's much more valuable and tempting. Who knows where our document copies are....
and W-9 here in the US, with our social security number.
  • #13,696
  • Feb 1, 2023 12:46pm Feb 1, 2023 12:46pm
Quoting Expo33
{quote} Here's a screenshot of the SP500 2 hours into the actual US stock market session. {image}
ok, a bit better but still, 0.9 vs about 0.1-0.5 of MFF or TFF (incl. comm)
Money is made by sitting, not trading
  • #13,697
  • Feb 1, 2023 1:17pm Feb 1, 2023 1:17pm
Quoting zozon99
On MFF demo, gold, bitcoin and US30 have been frozen for about 20 minutes after red news, is this normal or not? Edited Sorry, My mistake, I didn't properly set up the newly installed MT4... when I saw that everything was working properly on my mobile phone, knew it was my fault...
Sometimes its best not to write comments unless there is really a problem because now some guy from fb will ignore your correction and take it to facebook and spread it around and make fake things
  • #13,698
  • Feb 1, 2023 2:11pm Feb 1, 2023 2:11pm
Quoting Bizziebee
{quote} Well done indeed. Will be interesting to see how they apply new consistency rule. Trouble with so many of these new prop firms is that they look for more and more ways to knock out traders
In their case, they have to be more precise with the term " consistency ". For me the risk is too high for the moment.
  • #13,699
  • Feb 2, 2023 12:24am Feb 2, 2023 12:24am
Quoting Capablanca
{quote} If you could also repot about execution would be nice. Funded Next also has very tight spreads but they are garbage in execution in live account.
No problems with execution so far.
Pride always comes before destruction.... -Proverbs 16:18
  • #13,700
  • Feb 2, 2023 2:49am Feb 2, 2023 2:49am
Quoting Capablanca
{quote} That's one of the biggest risk we take. I guess that email and phone may be valuable if sold in batches but selling things like passport copies, utility bills, etc. it's much more valuable and tempting. Who knows where our document copies are....
Exactly. I'm wondering how one can mitigate this risk?
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