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  • #21,141
  • Edited 7:04am Sep 8, 2023 6:21am | Edited 7:04am
I wonder if the fee model is dead? If the murky allegations of large scale money laundering stand up somewhere, then it'll be over for many countries.

So maybe a model would be fund your own account at your own risk, if you can trade you sell your signals to the prop firm and get paid. Oh, hang on a minute, didn't we do that already once upon a time?!
  • #21,142
  • Sep 8, 2023 6:37am Sep 8, 2023 6:37am
Quoting Fagin
{quote} Just been reading his tweets and his only way of funding props is by 5ers....? Have I read that right? We can only trust our futures in Gil Ben Hur? I don't like the way he's going about this as it appears it isn't evidence based... more like an arsonist in a petrol station.
Maybe you are right in a sense that the way he goes about it is improper. But let's also not forget that Gil Ben Hur was the only CEO that went public about this MFF issue. All the rest of them stay silent to this day and rather dump Discount Coupons from their helicopters to lure in much needed capital to keep business going. To be honest, of all companies that I looked into, Gil Ben Hur is the only CEO that has the proper age, experience and CV that would allow him to run a legitimate company. Most of the other companies are run by kids whose CVs we dont know. When Gil Ben Huur stated that most of these shops probably dont understand their own business model, he is probably right.My view always has been that these kids are just the public faces for the company. The financiers are probably a whole different group of people. After all, this prop trading model is a perfect vehicle for some things.
  • #21,143
  • Sep 8, 2023 6:56am Sep 8, 2023 6:56am
Quoting Cryptosurf
{quote} You get a payouts daily? I thought i saw on their site its biweekly or something.
First payout on demand after placing first tradein live acc.

thereafter biweekly
Intraday only.
  • #21,144
  • Sep 8, 2023 7:04am Sep 8, 2023 7:04am
Hello there is a boom of post, so I didn't have time to read all.

Can somebody resume, which firms are CLOSED now, and which we could choose to still try to get funded?

thank you

https://docs.google.com/spreadsheets...frw/edit#gid=0

Please suggest also new prop names I can study and worth a look.
in holiday till end of November
  • #21,145
  • Edited 7:33am Sep 8, 2023 7:17am | Edited 7:33am
Quoting SirMcPip
{quote} Maybe you are right in a sense that the way he goes about it is improper. But let's also not forget that Gil Ben Hur was the only CEO that went public about this MFF issue. All the rest of them stay silent to this day and rather dump Discount Coupons from their helicopters to lure in much needed capital to keep business going. To be honest, of all companies that I looked into, Gil Ben Hur is the only CEO that has the proper age, experience and CV that would allow him to run a legitimate company. Most of the other companies are run by kids...
I don't know him and so can't pass on personal comment/recommendation on him ( I wouldn't do that to anyone anyway unless they were a politician or media influencer/((journalists don't exist anymore)).

You are right though, unfortunately all the props have fallen under the spell of social media with their nonsense payout bollocks and easy money bullshit. At risk of biting the hand that sometimes feeds me I hope they get what's coming to them with this as they should have known better and if they didn't they deserve a kick up the arse.

I'd take another look at 5ers though and I'd be asking them why is there always a sting in the tail in their programs (i.e. 0.5% profit in a day return is the latest red flag), they just can't seem to resist gaming the programme?

I'd be interested on how you get on but it seems maybe there is a NDA clause somewhere as I've yet to come across a number of traders independently vouch for them long term away from their marketing channels... Probably just given Gil an idea now, (you can send me a cheque later)
  • #21,146
  • Sep 8, 2023 7:19am Sep 8, 2023 7:19am
Quoting pipmaster77
{quote} Of course, it is tiring, when everything I say is true and you're obviously one of the blind sheep. Let me guess....Trump sucks, Biden is great, Kamala is better, there are 20 genders, open border is good for the country, only let the criminals have guns, mask up and keep getting your boosters.............I'm sure I missed some, but we get the point.
You missed climate change lol. Spot on my friend.
  • #21,147
  • Sep 8, 2023 7:19am Sep 8, 2023 7:19am
Quoting forexbali
Hello there is a boom of post, so I didn't have time to read all. Can somebody resume, which firms are CLOSED now, and which we could choose to still try to get funded? thank you https://docs.google.com/spreadsheets...frw/edit#gid=0 Please suggest also new prop names I can study and worth a look.
I think you are all addicted to something if you give ANY prop ANY money in the next 2 weeks or so. Good luck, maybe seek some help?
  • #21,148
  • Sep 8, 2023 7:23am Sep 8, 2023 7:23am
Quoting Fagin
{quote} I think you are all addicted to something if you give ANY prop ANY money in the next 2 weeks or so. Good luck, maybe seek some help?
Looks like some are addicted to Trump..
  • #21,149
  • Sep 8, 2023 7:26am Sep 8, 2023 7:26am
A friend of mine from the National Crime Agency has just tipped me off about a new prop start up, looks legit, checked out Marty the CEO who is a top man with a great team behind him.

Promotional video below: US based too which is a bonus I think?

Inserted Video
  • #21,150
  • Sep 8, 2023 7:30am Sep 8, 2023 7:30am
Quoting Tim_isoara
{quote} You lied to us when you boasted that you know the internal cuisine of many prop firms. When you told us that MFF is the best in the world. You are paid by MFF? RIP MFF and all prop firm like MFF . Good job tradernok.
lick my button child.
  • #21,151
  • Sep 8, 2023 7:33am Sep 8, 2023 7:33am
Quoting TraderTero
{quote} {image}
Matt says he is launching a new Futures company soon, MyFundedFutures.
Attached Image (click to enlarge)
Click to Enlarge Name: photo_2023-09-08_08-31-05.jpg Size: 66 KB
  • #21,152
  • Sep 8, 2023 7:37am Sep 8, 2023 7:37am
Quoting Fagin
{quote} I don't know him and so can't pass on personal comment/recommendation on him ( I wouldn't do that to anyone anyway unless they were a politician or media influencer/((journalists don't exist anymore)). You are right though, unfortunately all the props have fallen under the spell of social media with their nonsense payout bollocks and easy money bullshit. At risk of biting the hand that sometimes feeds me I hope they get what's coming to them with this as they should have known better and if they didn't they deserve a kick up the arse. I'd...
Commenting on MFF as a prop firm is a nuclear bomb waiting to happen. If MFF get clear, you are up for getting sued, if MFF get screwed, you are on the record making a comment that could backfire in your face.
What 5ers ceo did, was set himself up to have it blow in his face and in a really awful way. If you notice, most prop firms went the virtual way, he has gone the only a book way. If you get disproven on that, you end up in the same position as MFF regardless of which way you went.

Thats why any changes, by anyone in a time like this, is really bad and ill advised.
  • #21,153
  • Sep 8, 2023 7:41am Sep 8, 2023 7:41am
Quoting Thoughts
{quote}All kinds of alarm bells are going off in my head about this. If the CEO is accurate, Do the regulators mean to say that MFFX is a better smaller prop firm than MFF???
fixed your post
  • #21,154
  • Sep 8, 2023 7:54am Sep 8, 2023 7:54am
Quoting Takisd
{quote} Commenting on MFF as a prop firm is a nuclear bomb waiting to happen. If MFF get clear, you are up for getting sued, if MFF get screwed, you are on the record making a comment that could backfire in your face. What 5ers ceo did, was set himself up to have it blow in his face and in a really awful way. If you notice, most prop firms went the virtual way, he has gone the only a book way. If you get disproven on that, you end up in the same position as MFF regardless of which way you went. Thats why any changes, by anyone in a time like this,...
I know that's why I only commented about the twitter hero, with a petrol can and some matches.... as for the social media advertising, well then, line em up...
  • #21,155
  • Sep 8, 2023 7:56am Sep 8, 2023 7:56am
sorry for off topic, but I like to ask you profitable traders about your best risk management approach. I mean how much % you risk per trade and is this well known model, risking same percentage per trade works best for you?? If not what type you prefer, martingale?? Same $ amount per trade?? The problem with same% risk is when u get in to drawdown you recover for long time. And benefit is when you loose you loose less. For me as day trader the problem is my trade distribution (wins losses) is quite random so I work with adding to winners trying cut losses short. I see lack of info about it on books, same things everywhere unless you are some mathematition and got skill to go into statistics.
  • #21,156
  • Sep 8, 2023 8:05am Sep 8, 2023 8:05am
Quoting Fagin
{quote} I'd take another look at 5ers though and I'd be asking them why is there always a sting in the tail in their programs (i.e. 0.5% profit in a day return is the latest red flag), they just can't seem to resist gaming the programme?
I have a friend who knows 5ers management. One year ago, he told me that 5ers funded accounts are virtual funds. Perhaps 5ers has changed and now their funded accounts are real funds.
  • #21,157
  • Sep 8, 2023 8:08am Sep 8, 2023 8:08am
Quoting youngD
sorry for off topic, but I like to ask you profitable traders about your best risk management approach. I mean how much % you risk per trade and is this well known model, risking same percentage per trade works best for you?? If not what type you prefer, martingale?? Same $ amount per trade?? The problem with same% risk is when u get in to drawdown you recover for long time. And benefit is when you loose you loose less. For me as day trader the problem is my trade distribution (wins losses) is quite random so I work with adding to winners trying...
c & p ( From unknown source )
=
Some of the best risk management strategies for day trading:

  1. Determine your risk appetite and exposure upfront. This means knowing how much you are willing to risk on each trade and how much you are comfortable losing.
  2. Use stop-loss and take-profit orders. These orders will automatically close your position when the price reaches a certain level, which can help you limit your losses or lock in your profits.
  3. Diversify your portfolio. This means investing in different assets or markets, which can help reduce your overall risk.
  4. Keep your risk consistent. This means risking the same amount on each trade, regardless of the size of the trade.
  5. Manage your emotions. Trading can be emotional, but it's important to stay calm and make decisions based on your trading plan.
  6. Maintain a positive risk-reward ratio. This means risking less than you expect to gain on each trade.

Additional tips for risk management in day trading:

  1. Backtest your trading strategies. This means testing your strategies on historical data to see how they would have performed.
  2. Use a trading journal. This will help you track your trades and identify areas where you can improve.
  3. Be patient. It takes time to develop a successful trading strategy and to master risk management.

  • #21,158
  • Sep 8, 2023 8:12am Sep 8, 2023 8:12am
Quoting youngD
sorry for off topic, but I like to ask you profitable traders about your best risk management approach. I mean how much % you risk per trade and is this well known model, risking same percentage per trade works best for you?? If not what type you prefer, martingale?? Same $ amount per trade?? The problem with same% risk is when u get in to drawdown you recover for long time. And benefit is when you loose you loose less. For me as day trader the problem is my trade distribution (wins losses) is quite random so I work with adding to winners trying...
The % of risk per trade depends on the winning rate of your trading system, and how much you win when you win, and vice versa. Winning rate alone doesn't mean much if your 99 green trades cannot cover the loss of your 1 red trade. So I suppose everyone here will have a different ans to your question.

Just find a trading system that gives you an edge and has shown a consistency for at least 3 months. And stick to it. You can even modify/optimise it and backtest it again and repeat. And don't break the rules of the system. Even if you have found a trading system that actually works, if you can't stick to the rules you have established, history will just keep repeating itself. Best to find a system that suits ur temperament. Everyone is different.

Disclaimer: NOT a profitable trader haha...so prob just forget everything that you just read Just my 2 cents...Hope it helps.
memento mori
  • #21,159
  • Sep 8, 2023 8:33am Sep 8, 2023 8:33am
Quoting Fagin
{quote} I don't know him and so can't pass on personal comment/recommendation on him ( I wouldn't do that to anyone anyway unless they were a politician or media influencer/((journalists don't exist anymore)). You are right though, unfortunately all the props have fallen under the spell of social media with their nonsense payout bollocks and easy money bullshit. At risk of biting the hand that sometimes feeds me I hope they get what's coming to them with this as they should have known better and if they didn't they deserve a kick up the arse. I'd...
I dont know that much about the 5ers myself, it is just my personal opinion based on my research. But if I had the immediate urge to spend money on challenges, I would not consider any other option. Thats just me and my opinion, based on what I personally would consider relevant for myself. But one thing is officially clear now. This business model in 90% of cases is exclusively based on collecting fees and only if that income stream can be upheld, will the business model survive. There is a reason why the CFTC called it a Ponzi-like business(not directly a Ponzi business). Now I am not an uncompromising friend of these agencies either but they have their rightful place and purpose somewhere in the middle of the spectrum. Coming back to this issue of income stream, it has been suggested that these companies would be safe if they set up shop offshore in places like Dubai. That might be the case but what good would it do if your income stream is interrupted for good. And this is exactly what I believe is happening. All these posts here, advertising all kinds of new shops is just part of the game to entice people not to stop funding them but I dont think its representative of whats happening. Most people will likely not spend any money on most of the companies in the very immediate future because they think they wont be paid by the time they pass their challenge. Which means, the fees that are due soon are respectively in jeopardy to be paid out because there is no money coming in. So when you said that people should stop spending money for a couple of weeks, I couldnt agree more. And I think this is exactly what most will do, preferably even a bit longer. Then the visible proof will be in the pudding, that all what this is, at least after the MFF issue erupted, is some sort of HYIP. The ones that are in early win, the suckers that come in later lose it all. And then to me, there would be the much more serious issue of what these companies would do with the Copy of my Passport. I would currently be extremely uncomfortable if i had a copy of my ID on the MFF server and who knows where else by now.
  • #21,160
  • Sep 8, 2023 8:37am Sep 8, 2023 8:37am
Very interesting response by Funded Trading Plus ( I found it on twitter, X or whatever it is) pinned to their account.

Full disclosure. I've blown an account with them and I am an affiliate to my dog, whom I have to feed everyday and he protects my property.

Have a read and see what you think?
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