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Anyone trading with a Prop firm 31 replies

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  • #13,981
  • Feb 15, 2023 7:51pm Feb 15, 2023 7:51pm
Quoting Paloduro
so why is a pro firm asking traders to exit a trade that is going your way ,
-It is easy to make profits in trading. Learning how to not lose those profits is the difficult part. Trading is about managing risk, not about hitting personal records.

As such, in my opinion, it is usually better to take profits when you can and increase your chances of success. I have always advocated for minimizing exposure to market to further-mitigate risk. As a scalper, I get in and get out quickly. This idea of letting your trades run may work well for long-term swing traders, but for day trading, it can be disappointing. So, it is always best to take partial profits if your strategy's R:R requires staying in longer.

One way to look at it... if you let your trades run, you may be successful with that sometimes, but not always. When it works, it's great. But when it doesn't work, it can really cost you. However, if you take profits whenever you can, you will be successful 100% of the time that you are in profit.

If the market continues to move in that direction after you have closed out all of your positions, do not feel disappointed in yourself. Instead, feel happy knowing that you beat the market. Trying to milk a position for all that you can is a risky endeavor and can quickly turn into a greed trap.

I recommend doing the same with account balances, be that with a broker or a prop firm etc.... always take profits out regularly.
  • #13,982
  • Feb 15, 2023 9:13pm Feb 15, 2023 9:13pm
Quoting Nsak3y
{quote}-It is easy to make profits in trading. Learning how to not lose those profits is the difficult part. Trading is about managing risk, not about hitting personal records. As such, in my opinion, it is usually better to take profits when you can and increase your chances of success. I have always advocated for minimizing exposure to market to further-mitigate risk. As a scalper, I get in and get out quickly. This idea of letting your trades run may work well for long-term swing traders, but for day trading, it can be disappointing. So, it is...
Well said.
Survival intelligence is more important than entry intelligence
AAMS Trinity Engine Return This Month: 0.2%
  • #13,983
  • Feb 16, 2023 12:49am Feb 16, 2023 12:49am
I'm not promoting MyFundedFx, just passing along info from their discord.

Promotion coupon for the rest of the month.
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Updates/Improvements coming Feb 21st
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Also, I'm 7 days into my funded account. First payout is allowed after two weeks. Sitting at 4% so far. Got a little carried away during the CPI print. Will update when/if I get a payment.
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Pride always comes before destruction.... -Proverbs 16:18
  • #13,984
  • Feb 16, 2023 1:45am Feb 16, 2023 1:45am
Quoting Doubla
{quote} Decided to give bigpips a go. BIG mistake.
Here we go again.
Having payouts to pay for additional accounts I like to give the new prop firms a go. Those that "seem" to stack up rule conditions wise.
Anyway
Took out a 500k account with Gutstofail. Good conditions, no silly rules etc.
Guess what. First trade GOLD. Tried to trade with 10 lots. My standard for plus 100k accounts. No go.??? 500k account with 50:1 leverage. The most the platform would allow was/is 1 lot. Yes you read that correctly.

Contacted chat. had to wait all day for them to come on line.

Hello
Started trading new 500k account only to find the leverage is set at 0.05-1 not 50-1..???
Can only place a 1 lot trade on a 500k account.???
Sorry what do you mean? All the accounts have buying power 1:50
What instrument?
50:1 on a 500k account should allow for 50 lot trades
Gold
It depends of margin requirements for different instrument's set by liquidity provider because of volatility,
Gold as CFD with futures calculation has always higher margin requirements, so you have buying power 1:50 but margin
requirements differ from instrument to instrument and it all depends on liquidity providers and volatility
1 lot on a 500k account. You have to be joking... Very bad joke
With 1 lot gold traded on our accounts we had traders reaching the maximum allowed loss in hours, also please do keep in this are real accounts
not demo accounts so the liquidity providers impose margin requirements
Never the less. I should be able to trade 10 lots. At 1 lot this account is worthless
This is equivalent to a 0.05:1 leverage account
What other traders do is & should not be of my concern. I am being penalized due to your liquidity providers lack of funds
We will take into account your feedback and consider with trading team arrangement with more liquidity providers which can lead to a
change of margin requirement conditions
That would be great. But does not help me in the meantime
50:1 promised should be 50:1 provided
1:50 leverage you have on the account margin requirements from liquidity providers we can't affect. You as well have other instruments to trade
Test any account for yourself & you will find a 500k account at 50:1 leverage is capable of 50 lot trades. ..Not that I would do any such foolishness, but that is what you have advertised & filed to provide
Margin requirements are different thing, you seem not understand that
I understand very well. I have been trading for over 20 years. The margin requirement on this account does not match any other similar size account.
Demo accounts similar size does not match for sure, real accounts certainly does as we have also a lot of experience in trading individually and team as well
I can see I will not get any satisfaction from you.

Anyone care to comment?? Am I wrong? Never come across this problem before
Investment Trading
  • #13,985
  • Feb 16, 2023 2:53am Feb 16, 2023 2:53am
Quoting Doubla
Anyone care to comment?? Am I wrong?
-Did you happen to see all of the comments being made here about this firm, and also by member quinotaur? If you check out the firm's about page, you will see that name again. Needless to say, this firm has red flag written all over it.
  • #13,986
  • Feb 16, 2023 3:52am Feb 16, 2023 3:52am
Quoting Paloduro
{quote} ANY EXPERIENCE WITH takeprofittrader? ----------------------------- eir head

This my point
the rule to pass are 10 days plus making 9k profits
So why to punish the trader for making over 50% o total 9k in one day?
i mean they change the proit target from 9k to about 12 k ,just because you followed your trading system and you let your profits run,they call that to be lucky and then they ask you to make exra cash in order to reach a new profit target.

punish for
ONLY AN IDIOT ASK FOR 2 YEARS EXPERIENCE TO TRADE ANY SYSTEM
  • #13,987
  • Feb 16, 2023 5:46am Feb 16, 2023 5:46am
Quoting Paloduro
{quote} ANY EXPERIENCE WITH takeprofittrader? ----------------------------- 150K YOU PASS AFTER 10 DAYS PLUS 9K PROFITS BUT I YOU MAKE OVER 50% O TOTAL PROFITS IN ONE DAY THEY DO NOT PASS YOU. What do you think about that rule? ---------------------------- my real case -------------------- Arthur Today HI Wed, 08:30 Arthur what is the email on your account? Wed, 08:32 xxx Wed, 08:33 A Arthur From what I see you only have traded for 2 days Wed, 08:36 yes Wed, 08:37 A Arthur You need to trade for 10 to pass the test Wed, 08:37 ok Wed, 08:39 what is...
Quite often it's a case whereby after all due diligence has run its course the trader either decides to part with the fee for a crack at the challenge or moves on.

When there are many options out there for the trader this is good because you try to find the best fit for your own set of circumstances.

It's not easy to find a perfect fit, in fact it's unlikely that a trader will like all of the Props' rules.

My experience has been that there are enough current Prop Firms out there now with very reasonable conditions and so I suggest traders seek out these firms in the first instance unless you are a legend who has managed to max them all out.

Masterrmind............
Master your Mind then Master your Trades
  • #13,988
  • Feb 16, 2023 5:56am Feb 16, 2023 5:56am
Quoting Doubla
{quote} Here we go again. Having payouts to pay for additional accounts I like to give the new prop firms a go. Those that "seem" to stack up rule conditions wise. Anyway Took out a 500k account with Gutstofail. Good conditions, no silly rules etc. Guess what. First trade GOLD. Tried to trade with 10 lots. My standard for plus 100k accounts. No go.??? 500k account with 50:1 leverage. The most the platform would allow was/is 1 lot. Yes you read that correctly. Contacted chat. had to wait all day for them to come on line. Hello Started trading new...
Thanks for sharing.

A garbage company.

Masterrmind.............
Master your Mind then Master your Trades
  • #13,989
  • Feb 16, 2023 5:58am Feb 16, 2023 5:58am
Quoting Doubla
{quote} Here we go again. Having payouts to pay for additional accounts I like to give the new prop firms a go. Those that "seem" to stack up rule conditions wise. Anyway Took out a 500k account with Gutstofail. Good conditions, no silly rules etc. Guess what. First trade GOLD. Tried to trade with 10 lots. My standard for plus 100k accounts. No go.??? 500k account with 50:1 leverage. The most the platform would allow was/is 1 lot. Yes you read that correctly. Contacted chat. had to wait all day for them to come on line. Hello Started trading new...
I thought you were talking about Bigpips! You still with them? They are 100:1 leverage
  • #13,990
  • Feb 16, 2023 7:51am Feb 16, 2023 7:51am
Quoting Masterrmind
{quote} Quite often it's a case whereby after all due diligence has run its course the trader either decides to part with the fee for a crack at the challenge or moves on. When there are many options out there for the trader this is good because you try to find the best fit for your own set of circumstances. It's not easy to find a perfect fit, in fact it's unlikely that a trader will like all of the Props' rules. My experience has been that there are enough current Prop Firms out there now with very reasonable conditions and so I suggest traders...
Yes sir. 2 million available before anyone has to take a chance with the unknown...........
  • #13,991
  • Edited 11:57am Feb 16, 2023 9:27am | Edited 11:57am
Quoting Paloduro
{quote} ANY EXPERIENCE WITH takeprofittrader? ----------------------------- 150K YOU PASS AFTER 10 DAYS PLUS 9K PROFITS BUT I YOU MAKE OVER 50% O TOTAL PROFITS IN ONE DAY THEY DO NOT PASS YOU. What do you think about that rule? their head
This will end when i can stop my profits at the exact amount to avoid making too much based in takeproittrader rule to make less 50% of total proits in a single day.

I think that takeprofittrader use this bad trap to keep collecting fees without funding traders that pass based in reaching the 10 days plus the original profit targets of 9k for 150k demo and following all the rules but that the system make over 50% o total profits in a singkle day and they call that to be lucky instead of a traders that entered based in a system and the market went the trader way.
A rule to cancel your passed test because you made over 50 % o total profits in a single day?

real case continue
----------------
Thu, 10:47
yesterday i was told to make extra 2k
Thu, 10:50
im confused today i made thos 2k and you are asking to make more cash for a new profit target
Thu, 10:50
online
Vlada
Let me check your previous conversation please
Thu, 10:51
ok
Thu, 10:51
online
Vlada
At the time you wrote you had a profit of not 9000 as far as I can see from the chat, but 5000. From this the other agent concluded that you needed to make another 2K before the end of the 10 day period, but you did so the same day, and even more:
At the moment your biggest day is 9,275, so you need to trade another 8 days at least and increase your profit target so that this amount is no more than 50% of your total profit target. Unfortunately, I can't help you with anything else on this, as this is the rule and it's pretty clear here.
Thu, 10:58
how much more i need to make?
Thu, 11:00
online
Vlada
Your account balance is $159,275, you need to make it so that it is $168551

Thu, 11:02
my closed balance today is 160,980.00
Thu, 11:04
i did not get it. how much exctly you want me to make to reach the new profit trarget?
Thu, 11:05
online
Vlada
I'm sorry, but I gave you the exact figure. Your account balance should be $168551
Thu, 11:07
so you double my proit target from 9k to 18k?
Thu, 11:08
Seen
online
Vlada
Yes, so 9K would be 50% of the total profit target.
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ONLY AN IDIOT ASK FOR 2 YEARS EXPERIENCE TO TRADE ANY SYSTEM
  • #13,992
  • Feb 16, 2023 10:36am Feb 16, 2023 10:36am
Any recommendation for direct funding. I am trading with two props and that are really the real accounts the others offer demo accounts and their trading teams "copy" trades to a real account... I want to try one more but not proposals like MyForexFunds as they have insane pricing
  • #13,993
  • Feb 16, 2023 10:41am Feb 16, 2023 10:41am
Inserted Video
  • #13,994
  • Feb 16, 2023 12:46pm Feb 16, 2023 12:46pm
Quoting pipmaster77
{quote} Yes sir. 2 million available before anyone has to take a chance with the unknown...........
And when you get there you probably don't give a s* for the other unknown props, unless you want 1 or 2 for some kamikaze strategies
  • #13,995
  • Feb 16, 2023 12:48pm Feb 16, 2023 12:48pm
Quoting nomadtrading
Any recommendation for direct funding. I am trading with two props and that are really the real accounts the others offer demo accounts and their trading teams "copy" trades to a real account... I want to try one more but not proposals like MyForexFunds as they have insane pricing
What do you mean by insane pricing ? MFF is one of the cheaper if not the cheapest
  • #13,996
  • Feb 16, 2023 12:56pm Feb 16, 2023 12:56pm
Quoting Capablanca
{quote} What do you mean by insane pricing ? MFF is one of the cheaper if not the cheapest
MFF offers 300K with 12% DD for $1389. I believe there is still a 5% discount floating around as well. So for around $1,320 you get 36K in DD. Yes, absolutely one of the best offers around.
  • #13,997
  • Feb 16, 2023 12:59pm Feb 16, 2023 12:59pm
Quoting Capablanca
{quote} And when you get there you probably don't give a s* for the other unknown props, unless you want 1 or 2 for some kamikaze strategies
Exactly, because at that point you are aggressively feeding your personal account as well.
  • #13,998
  • Feb 16, 2023 2:00pm Feb 16, 2023 2:00pm
Quoting Capablanca
{quote} What do you mean by insane pricing ? MFF is one of the cheaper if not the cheapest
Instant, direct funding I said, Live accounts, not the demo challenges and their (MFF) accelerated program is the most expensive
  • #13,999
  • Feb 16, 2023 2:07pm Feb 16, 2023 2:07pm
Quoting nomadtrading
Instant, direct funding I said, Live accounts, not the demo challenges and their (MFF) accelerated program is the most expensive
-So you're looking for a broker then?
  • #14,000
  • Feb 16, 2023 2:44pm Feb 16, 2023 2:44pm
Quoting Nsak3y
{quote}-So you're looking for a broker then?
Brokers offer funded Live accounts???
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