Prop Firm Hub | Page 840 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

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

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #16,781
  • Jun 19, 2023 5:11am Jun 19, 2023 5:11am
Quoting Takisd
{quote} Someone brought it up recently and we were all reminded of it, that many companies reach out to influencers and offer them a faked account and pay them for the promo. It can all be faked pretty easily.
Was lamborauls 100k payout 100% fake....or just rumored hearsay??
  • #16,782
  • Jun 19, 2023 5:15am Jun 19, 2023 5:15am
Quoting solarpower
{quote} I do not think FTMO faked that 100k payout, I do not think FTMO can degrade to that level coperation with decadent. Now I have looked at the interview which was done in April 2021, that means, probably Lambo Raul made his money on one-sided quick moves happened at that time in March/April.
FTMO pay for posts on forexfactory. Please.......

It doesn't mean they are a bad company, i have had an account with them for a long time but they are awful marketers.
  • #16,783
  • Jun 19, 2023 7:12am Jun 19, 2023 7:12am
Quoting Takisd
{quote} If a prop firm does not have a means of organizing order flow to generate revenue and not just A-book to hedge risk, then there is also a point where its impossible for them to win. Its actually why ICMarkets is such a good company and its because of order matching. But a prop firm, if you have both sides of a ticket then you dont earn both commissions you earn 0. The critical mass that exists in FTMO and MFF is so high I believe their book is mostly hedged and thus, they have to have a solution to that issue. Filling the book with more...
I'm guessing the 3 in category 2 are MFF, FTMO and TFTP, with the latter being the clueless one.
  • #16,784
  • Jun 19, 2023 9:53am Jun 19, 2023 9:53am
people are going crazy on MFF discord, we cant place a trade nor close it lmao. luckily for me i wasnt able to place a trade but people who are running losses and with potential winners cant close their trades xD
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 59 KB
Click to Enlarge Name: screenshot.png Size: 5 KB
  • #16,785
  • Jun 19, 2023 10:03am Jun 19, 2023 10:03am
Looking at FXIFY it's my impression or these guys are basically returning the fee after phase 2 ?

I'm saying this because "The first withdrawal can be requested on demand(24 hours after placing your first trade)".

So, if someone passes phase 2, my distorted mind tells me that we just need to place a 0.01 (or so) trade that get positive. This would result in a payout + refund fee (I'm not sure if there is minimum to request a payout though), which means fee refund basically after phase 2.
Am I missing anything ?
  • #16,786
  • Jun 19, 2023 10:14am Jun 19, 2023 10:14am
Quoting KoyaAndy18
people are going crazy on MFF discord, we cant place a trade nor close it lmao. luckily for me i wasnt able to place a trade but people who are running losses and with potential winners cant close their trades xD {image} {image}
I have an open trade with them now. Not near my TP yet, but in profit. I may close it in 45 minutes. I'll report back if any issues.
  • #16,787
  • Jun 19, 2023 10:16am Jun 19, 2023 10:16am
Quoting pipmaster77
{quote} I have an open trade with them now. Not near my TP yet, but in profit. I may close it in 45 minutes. I'll report back if any issues.
I just went in and close a small piece of it, just to test. No issue whatsoever.
  • #16,788
  • Jun 19, 2023 10:41am Jun 19, 2023 10:41am
Quoting pipmaster77
{quote} I just went in and close a small piece of it, just to test. No issue whatsoever.
closed the rest (US is closed today), no problem.
  • #16,789
  • Jun 19, 2023 11:09am Jun 19, 2023 11:09am
Quoting KoyaAndy18
people are going crazy on MFF discord, we cant place a trade nor close it lmao. luckily for me i wasnt able to place a trade but people who are running losses and with potential winners cant close their trades xD {image} {image}
It was only mt5 demo and they will rectify as they always do.
  • #16,790
  • Jun 19, 2023 11:58am Jun 19, 2023 11:58am
Quoting Takisd
{quote} It was only mt5 demo and they will rectify as they always do.
that explains it. I'm MT4 Live
  • #16,791
  • Jun 20, 2023 12:39am Jun 20, 2023 12:39am
Quick question about 5ers in the 2 step challenge.

They have this rule:
- Accounts without trading activity for more than 10 calendar days will get expired. The counter starts from registration day.

If this 10 days consecutive or 10 days in total ?
  • #16,792
  • Edited 1:15am Jun 20, 2023 1:05am | Edited 1:15am
Deleted by me
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB
  • #16,793
  • Jun 20, 2023 1:16am Jun 20, 2023 1:16am
Quoting MwlRCT
{quote} Take this example: On June 20th, I closed all of my trades. On June 21st and 22nd, I did not make any trades, resulting in two consecutive days of inactivity. If I open a new trade on June 23rd, the counter will reset. {image}
Thanks! Good to know that they even have that counter in the dashboard.

I never tried 5ers. I will give them a stab and see how it goes. A pity that it's only 100K.
  • #16,794
  • Jun 20, 2023 1:57am Jun 20, 2023 1:57am
Quoting Capablanca
{quote} Thanks! Good to know that they even have that counter in the dashboard. I never tried 5ers. I will give them a stab and see how it goes. A pity that it's only 100K.
It does scale to 500K in 10 steps of 10% gain. That's the goal.
It is still not clear to me if weekends are counted in the 10 day inactivity rule.
Ah, just reread your post - it does say calendar days. I do not like this rule at all. Should be more like 30 days - 10 days is way too short and easy to mess up on. I'll be setting reminders for this to be sure.
  • #16,795
  • Jun 20, 2023 2:39am Jun 20, 2023 2:39am
Quoting equa
{quote} It does scale to 500K in 10 steps of 10% gain. That's the goal. It is still not clear to me if weekends are counted in the 10 day inactivity rule. Ah, just reread your post - it does say calendar days. I do not like this rule at all. Should be more like 30 days - 10 days is way too short and easy to mess up on. I'll be setting reminders for this to be sure.
Yes, 10 days may be short if one is on vacation or so. I wonder if a 0.01 trade resets the things and if they don't chase us for doing that.

Yep, they have the scale up to 500k but one can have 400K or 600k with other props without needing scale. For my trading style 10% is quite a lot. To achieve 500K it would be a long long long time. Would be nice if they increased that at least to 200K. Anyway, I'll give a try and see.
  • #16,796
  • Jun 20, 2023 4:23am Jun 20, 2023 4:23am
Quoting Capablanca
{quote} Thanks! Good to know that they even have that counter in the dashboard. I never tried 5ers. I will give them a stab and see how it goes. A pity that it's only 100K.
Be careful about their 2 minutes news rule. They don't even let you know what kinds of news affect which pair. I once saw on a prop website(don't remember which prop) that Crude Inventory is red news for all USD pairs. Can you believe it? Also, speeches of government officials are red news, but sometimes the speech is not planned at a certain time. If you use stop loss/take profit/limit order/stop order, you WILL definitely break their news rule in a year, probably in a few months or weeks.
  • #16,797
  • Jun 20, 2023 4:32am Jun 20, 2023 4:32am
Quoting ladder
{quote} Be careful about their 2 minutes news rule. They don't even let you know what kinds of news affect which pair. I once saw on a prop website(don't remember which prop) that Crude Inventory is red news for all USD pairs. Can you believe it? Also, speeches of government officials are red news, but sometimes the speech is not planned at a certain time. If you use stop loss/take profit/limit order/stop order, you WILL definitely break their news rule in a year, probably in a few months or weeks.
The news rule is also a concern but from what I've read recently from 5ers staff is that there is a fair bit of discretion on their part. Basically, if you trade with proper risk management, as if the account was your own money, you will not be failed on a news violation is what I've understood. The rule is there to manage risk and not to fail traders. 5ers are a solid firm with a great reputation - they are not out for a quick buck on challenge fees.
  • #16,798
  • Jun 20, 2023 4:41am Jun 20, 2023 4:41am
Quoting equa
{quote} The news rule is also a concern but from what I've read recently from 5ers staff is that there is a fair bit of discretion on their part. Basically, if you trade with proper risk management, as if the account was your own money, you will not be failed on a news violation is what I've understood. The rule is there to manage risk and not to fail traders. 5ers are a solid firm with a great reputation - they are not out for a quick buck on challenge fees.
First, they are absolutely out for a quick buck on challenge fees. Second, if the news rule is like what you said, they should indicate on their website that if the leverage of all positions is less than a number like 3 and the total stop loss is less than 2%, then you can trade without fear of news violation. Not this kind of discretion. Third, no one in this thread has ever provided proof of funded status or payment from 5ers, but many say 5ers are a solid firm, interesting.
  • #16,799
  • Jun 20, 2023 5:08am Jun 20, 2023 5:08am
Quoting ladder
{quote} First, they are absolutely out for a quick buck on challenge fees. Second, if the news rule is like what you said, they should indicate on their website that if the leverage of all positions is less than a number like 3 and the total stop loss is less than 2%, then you can trade without fear of news violation. Not this kind of discretion. Third, no one in this thread has ever provided proof of funded status or payment from 5ers, but many say 5ers are a solid firm, interesting.
I like your suggestion to define reasonable risk parameters for red news events but I think a lot of traders won't and they'll get tripped up in the calculations especially in the heat of the moment. Personally, with my own account I either hedge flat or close during red news events for affected pairs. That's just sound risk management imo and I'll do the same with my 5ers challenge.
The 5ers as a firm could be better in marketing and communication, they don't make a lot of noise in the space and I like that. In a previous challenge I found them rock solid on all fronts - executions, spreads, support, education etc. They are old school like FTMO - not offering all sorts of tournaments to the kiddies like so many clown firms seem to be forced into doing by the biggest clown firm with knights and horsies. OK done ranting. 5ers are a professional firm I'm happy to partner with, that's my take.
  • #16,800
  • Jun 20, 2023 5:16am Jun 20, 2023 5:16am
Just read in the Prop Firms Telegram group :

A guy lost his 250 K with MFFX : " hedging with other prop firm " with no proof

The guy had something like a reverse arbitrage with different lots & with a close time difference of 50 min
58 traders viewing now