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  • #16,541
  • Jun 11, 2023 1:57pm Jun 11, 2023 1:57pm
Quoting Takisd
{image} Expecting to see a lot more of this soon.
I see a lot of 1 star reviews and no answer at all from MFFx...
  • #16,542
  • Jun 11, 2023 1:58pm Jun 11, 2023 1:58pm
Quoting Capablanca
{quote} I see a lot of 1 star reviews and no answer at all from MFFx...
I am reading a lot this weekend as i was laying on the beach getting sunburned (whilst under an umbrella... wtf?). I can see that these 8cap firms are literally trying to play ponzi coverup with big words but no substance.

I also realized that given the prop firm market, no time limit is a scam. Most traders in prop firms (like 90+%) who fail fail before 20 days.
This "boom" growth they speak of will mature in about 60 days. Lets see how bad it gets.
  • #16,543
  • Jun 11, 2023 2:00pm Jun 11, 2023 2:00pm
Quoting Nsak3y
{quote}-Bummer. Let's see how Mr. Transparency responds to this. MFFX should not have a problem with paying that amount, at this point. Curious to hear both sides of this story. I think, props are a great way to fund personal accounts. But people need to be realistic, especially with newer firms. Unless it's MFF or FTMO, I would not try to push much over 30k/month with most firms, but that's just me.
Seems to be an old case: Date of experience: 04 April 2023
  • #16,544
  • Jun 11, 2023 2:01pm Jun 11, 2023 2:01pm
Quoting TraderTero
{quote} Seems to be an old case: Date of experience: 04 April 2023
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: < 1 KB
  • #16,545
  • Jun 11, 2023 2:03pm Jun 11, 2023 2:03pm
Quoting Takisd
{quote} I am reading a lot this weekend as i was laying on the beach getting sunburned (whilst under an umbrella... wtf?). I can see that these 8cap firms are literally trying to play ponzi coverup with big words but no substance. I also realized that given the prop firm market, no time limit is a scam. Most traders in prop firms (like 90+%) who fail fail before 20 days. This "boom" growth they speak of will mature in about 60 days. Lets see how bad it gets.
Do you have any opinion about what would be a good threshold not to overtake in terms of payouts like for example 5K, 10K ? (other than MFF and FTMO, of course)
  • #16,546
  • Jun 11, 2023 2:06pm Jun 11, 2023 2:06pm
Quoting Capablanca
{quote} Do you have any opinion about what would be a good threshold not to overtake in terms of payouts like for example 5K, 10K ? (other than MFF and FTMO, of course)
Depends on the firm i guess? Some of the smaller firms have paid me 10k level payouts. TFF i know you need to be 10k or less to be calm.

Its funny isn't it here we are discussing other firms but it seems like the only two who let you get paid big are MFF and FTMO. Perhaps its a detail people should pay more attention to.
  • #16,547
  • Jun 11, 2023 2:12pm Jun 11, 2023 2:12pm
Quoting Takisd
{quote} Depends on the firm i guess? Some of the smaller firms have paid me 10k level payouts. TFF i know you need to be 10k or less to be calm. Its funny isn't it here we are discussing other firms but it seems like the only two who let you get paid big are MFF and FTMO. Perhaps its a detail people should pay more attention to.
Those are the two that people should starts from without any doubts.

But if we can milk some more why not ? The thing is how much the cow is willing to drop without retaining the milk.

I have been more cautious than that, trying to keep payouts up to 5K, rarely above that. Maybe I can increase a bit and see.
  • #16,548
  • Jun 11, 2023 2:18pm Jun 11, 2023 2:18pm
Quoting Capablanca
{quote} Those are the two that people should starts from without any doubts. But if we can milk some more why not ? The thing is how much the cow is willing to drop without retaining the milk. I have been more cautious than that, trying to keep payouts up to 5K, rarely above that. Maybe I can increase a bit and see.
I think those two are doing something with order flow. Its why they aren't very fussed with the kids doing their bargain basement coupons and giveaways.

Personally, I can see almost every other firm doing what FT did before they died. Making everything too good, promising huge things, getting growth, then when it comes through the cycle where payouts start climbing up, falling from their private jet to the perky cushions of a whale ass.
  • #16,549
  • Jun 11, 2023 2:51pm Jun 11, 2023 2:51pm
Quoting Takisd
Personally, I can see almost every other firm doing what FT did before they died. Making everything too good, promising huge things, getting growth, then when it comes through the cycle where payouts start climbing up, falling from their private jet to the perky cushions of a whale ass.
-But Angelo has a $100 Million company bro.
  • #16,550
  • Jun 11, 2023 2:53pm Jun 11, 2023 2:53pm
Quoting Nsak3y
{quote}-But Angelo has a $100 Million company bro.
If they owned their infrastructure, he might be right, but they don't. No assets, no value.
  • #16,551
  • Jun 11, 2023 3:14pm Jun 11, 2023 3:14pm
I was only joking, of course. But I wonder if they could leverage their user-base somehow. It keeps going back to how to monetize the traffic or the trading in some way, I guess.
  • #16,552
  • Jun 11, 2023 3:18pm Jun 11, 2023 3:18pm
Quoting Nsak3y
I was only joking, of course. But I wonder if they could leverage their user-base somehow. It keeps going back to how to monetize the traffic or the trading in some way, I guess.
They could probably sell it to some gambling website or sweepstakes company. Since most of it is only there for coupons and giveaways.
  • #16,553
  • Jun 11, 2023 4:41pm Jun 11, 2023 4:41pm
Quoting Takisd
{quote} I think those two are doing something with order flow. Its why they aren't very fussed with the kids doing their bargain basement coupons and giveaways. Personally, I can see almost every other firm doing what FT did before they died. Making everything too good, promising huge things, getting growth, then when it comes through the cycle where payouts start climbing up, falling from their private jet to the perky cushions of a whale ass.
TFT has couple of good payouts assuming they are not fake. Also FT spreads and executions were one of the greatest so far MyFF or FTMO is no where near. Eightcap backed firms have some settings where prop firms allow slippage which discourages lot of scalper. These prop firms are more afraid of scalpers than long term traders as they can easily hedge them. Also it is not really difficult to be profitable in prop firm space if you have correct formula when to B book a trader and when to A book. Only thing needed is large pool of money, risk management team and lot of sign ups.
  • #16,554
  • Jun 11, 2023 11:55pm Jun 11, 2023 11:55pm
Quoting Nsak3y
{quote}-Bummer. Let's see how Mr. Transparency responds to this. MFFX should not have a problem with paying that amount, at this point. Curious to hear both sides of this story. I think, props are a great way to fund personal accounts. But people need to be realistic, especially with newer firms. Unless it's MFF or FTMO, I would not try to push much over 30k/month with most firms, but that's just me.
I guess his html copy script glitched


happens
  • #16,555
  • Jun 12, 2023 12:16am Jun 12, 2023 12:16am
Quoting Capablanca
{quote} Those are the two that people should starts from without any doubts. But if we can milk some more why not ? The thing is how much the cow is willing to drop without retaining the milk. I have been more cautious than that, trying to keep payouts up to 5K, rarely above that. Maybe I can increase a bit and see.
Maybe they should introduce a max monthly profit instead of just refusing to pay people by blaming them for arb or some other wrong doings.
  • #16,556
  • Jun 12, 2023 12:34am Jun 12, 2023 12:34am
Quoting TraderTero
{quote} Maybe they should introduce a max monthly profit instead of just refusing to pay people by blaming them for arb or some other wrong doings.
doesn't play well into marketing from your typical gambler's perspective
  • #16,557
  • Jun 12, 2023 12:39am Jun 12, 2023 12:39am
what surprises me is that the banning for big lots is happening alot but people arent complaining much.

But hey, unlimited days yo.
  • #16,558
  • Jun 12, 2023 12:43am Jun 12, 2023 12:43am
Quoting Takisd
what surprises me is that the banning for big lots is happening alot but people arent complaining much. But hey, unlimited days yo.
never really understood your beef with unlimited days - except from one angle

Technically, every purchased acc is a potential liability for the prop firm on their balance sheet, and that acc having no expiry date equals potentially unlimited liability for them in contrast to a 30/60 day old model, where they can control that risk much better and avoid blowing up.
  • #16,559
  • Jun 12, 2023 12:46am Jun 12, 2023 12:46am
Quoting LehmanBrotha
{quote} never really understood your beef with unlimited days - except from one angle Technically, every purchased acc is a potential liability for the prop firm on their balance sheet, and that acc having no expiry date equals potentially unlimited liability for them in contrast to a 30/60 day old model, where they can control that risk much better and avoid blowing up.
It defeats the purpose of a prop firm. Why should everyone get funded? Why not just the people who are good? If people want to pass a no time limit firm, just grid a low volatility pair and buy the biggest account size and use the smallest lot size. Eventually you will get funded. You could even long short grid it where you are buying and selling at the same time and closing out at certain points.

A prop firm's purpose is not to find people who are going to blow a live account it is to find traders who can trade real capital. IF the prop firms are going to continue to exist they need to figure that out because at some point the ponzi party will end and people will get hurt.
  • #16,560
  • Jun 12, 2023 1:01am Jun 12, 2023 1:01am
Quoting Takisd
{quote} It defeats the purpose of a prop firm. Why should everyone get funded? Why not just the people who are good? If people want to pass a no time limit firm, just grid a low volatility pair and buy the biggest account size and use the smallest lot size. Eventually you will get funded. You could even long short grid it where you are buying and selling at the same time and closing out at certain points. A prop firm's purpose is not to find people who are going to blow a live account it is to find traders who can trade real capital. IF the prop...
Don't most of them ban grid and similar strategies?

From my personal experience, 30 days were not enough for my profitable but slow approach strategy of 6-8 swing trades per month. However, my style is easily replicated by any firm out there.
Maybe we'll get some common ground out there where we'll get 45-60 days for phase 1, or something that we havent seen so far - an option to purchase an extension or two for a particular acc. That could be a game-changer.

I think prop space will, inevitably, consolidate.
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