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  • #23,521
  • Oct 3, 2023 11:24am Oct 3, 2023 11:24am
I notice that prop firm that give account automatically after phase 2 end up as demo account claiming live



with 5ers you will have to wait for 24hrs before you can receive your account from managers.
MY OPINION NOT FINANCIAL ADVISE
  • #23,522
  • Oct 3, 2023 11:59am Oct 3, 2023 11:59am
Quoting donfriday
I notice that prop firm that give account automatically after phase 2 end up as demo account claiming live
with 5ers you will have to wait for 24hrs before you can receive your account from managers.
Haha.. with TFTP, you had to wait until Sunday to activate your 'LIVE' account. Angelo improved their system several months ago to activate on Sunday and Wednesday.
  • #23,523
  • Oct 3, 2023 12:23pm Oct 3, 2023 12:23pm
Quoting ladder
{quote} Haha.. with TFTP, you had to wait until Sunday to activate your 'LIVE' account. Angelo improved their system several months ago to activate on Sunday and Wednesday.
And now it's Monday, Wednesday and Friday, a massive revolution of the whole industry
  • #23,524
  • Oct 3, 2023 12:26pm Oct 3, 2023 12:26pm
Quoting OutThere
What if props decide they want to only keep those traders that are A book worthy? I don't mean the fake A book but those traders whose signals are good enough to be used in the real market? That way their main source of revenue would become the market and not challenge fees. That should clear about 95% of the riffraff that includes the yolo 1-3 day challenge passing traders.
Question is how do you decide if a trader is worthy to be A booked or not? Don't we already have traditional prop firms doing that?
I dont understand why people care about A-Book or B-Book. I will trust more B-Booked prop firms than A-booked, simply because 95% of traders fail.
If anyone expects prop firms will A-Book just passing 2 phases is like PIPE dream. One needs to have alteast 3-5 years of solid data.
  • #23,525
  • Oct 3, 2023 1:22pm Oct 3, 2023 1:22pm
I'm stuck with 3 payouts, waiting and waiting...

5ers it's tomorrow a week since I asked for it. Their excuse is that the risk manager had a baby (I know this is true because I saw in twitter) so they are having backlogs in payments
---
In Alpha I requested a payment on Friday by Bank wire. They say maybe on Thursday I will receive it. They were fast in approving it but seems slow to receive.
---
FXIFY used to be super fast, just a couple of hours. Yesterday I requested a payout, received an automatic email (still referring to Deel !) and nothing happened in the meantime. So basically they don't know how I want the payout.

I contacted the live support and they provided me a link for a google form. However, that google form is the same that I filled in in past payout so it's saying something like "you have already filled this form". They told me to edit the form and resubmit, which I did. But I see now a big confusion to get the payout. What if I have another payout in another account ? Do I edit again the same form, over and over ? Let's see. I don't expect to receive the payout any sooner. In the meantime the account is frozen. In their Telegram there are people saying that it took a week to receive it.
  • #23,526
  • Oct 3, 2023 1:35pm Oct 3, 2023 1:35pm
After Bespoke, now it's MFFx banning Pakistan
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  • #23,527
  • Oct 3, 2023 1:40pm Oct 3, 2023 1:40pm
Quoting Capablanca
After Bespoke, now it's MFFx banning Pakistan {image}
They have big organized groups cheating all prop firms they join. It is like a plague. I am not surprised that more prop firms will ban this country. Who pays for them ?
  • #23,528
  • Oct 3, 2023 1:41pm Oct 3, 2023 1:41pm
Quoting Capablanca
After Bespoke, now it's MFFx banning Pakistan {image}
Its because they were using money mules and got called out/reported, uhoh.
  • #23,529
  • Oct 3, 2023 1:44pm Oct 3, 2023 1:44pm
Quoting Takisd
{quote} Its because they were using money mules and got called out/reported, uhoh.
It's likely that. It's serious offense with all those laws of anti laundry, anti terrorism and so on.
  • #23,530
  • Oct 3, 2023 1:49pm Oct 3, 2023 1:49pm
Quoting Takisd
{quote} 3. the traders don't exist because market cycles generally kill retail traders.
Anyone you mean, many guys from SMB capital lost money in 2022 due to market change.
I mean the only way to avoid that is to stop trading the certain strategy after an abnormal level of drawdown has been reached. And hopefully have another strategy in your arsenal that will be actually performing.
  • #23,531
  • Oct 3, 2023 1:59pm Oct 3, 2023 1:59pm
Quoting Capablanca
{quote} It's likely that. It's serious offense with all those laws of anti laundry, anti terrorism and so on.
Same like Vietnam gangs there I assume because they are also banned everywhere.
  • #23,532
  • Oct 3, 2023 2:06pm Oct 3, 2023 2:06pm
Quoting Tobiazzek
{quote} Anyone you mean, many guys from SMB capital lost money in 2022 due to market change. I mean the only way to avoid that is to stop trading the certain strategy after an abnormal level of drawdown has been reached. And hopefully have another strategy in your arsenal that will be actually performing.
I think it is more about having a flexible strategy that is adjustable to new environment, so it can fit to new market dynamics. And not so about having MANY strats.
  • #23,533
  • Oct 3, 2023 2:08pm Oct 3, 2023 2:08pm
Quoting Tobiazzek
{quote} Anyone you mean, many guys from SMB capital lost money in 2022 due to market change. I mean the only way to avoid that is to stop trading the certain strategy after an abnormal level of drawdown has been reached. And hopefully have another strategy in your arsenal that will be actually performing.
Those guys who needs a job and working 9 to 5, I would put them into retail traders list. Because real professionals are independent and cannot be bought for money.
  • #23,534
  • Oct 3, 2023 2:22pm Oct 3, 2023 2:22pm
Quoting Capablanca
I'm stuck with 3 payouts, waiting and waiting... 5ers it's tomorrow a week since I asked for it. Their excuse is that the risk manager had a baby (I know this is true because I saw in twitter) so they are having backlogs in payments --- In Alpha I requested a payment on Friday by Bank wire. They say maybe on Thursday I will receive it. They were fast in approving it but seems slow to receive. --- FXIFY used to be super fast, just a couple of hours. Yesterday I requested a payout, received an automatic email (still referring to Deel !) and nothing...
Yes, unfortunately, I think the industry is done. The CFTC knew exactly what they were doing UNRIGHTFULLY closing MFF. The impact on the industry makes it so they don't even have to go after any others. Only one I'm shocked about out of the 3 you mentioned is the 5%ers. They only have one staff member handling payouts?
  • #23,535
  • Oct 3, 2023 2:48pm Oct 3, 2023 2:48pm
Quoting Thoughts
{quote}1. Its a riskier model.. 2. Greed..
Quoting Takisd
{quote} 3. the traders don't exist because market cycles generally kill retail traders.
How do you guys know so well? Angelo and the like are the one ones sitting on data and have their arses on CFTC's frying pan.
Maybe it is not the greed that is motivating them but the fear of annihilation.
  • #23,536
  • Oct 3, 2023 2:56pm Oct 3, 2023 2:56pm
Quoting TrAndy1
{quote} I think it is more about having a flexible strategy that is adjustable to new environment, so it can fit to new market dynamics. And not so about having MANY strats.
Yeah that does make sense, hopefully mine will keep working as long as possible til I develop something like that...
  • #23,537
  • Oct 3, 2023 2:56pm Oct 3, 2023 2:56pm
Quoting sampat
{quote} Question is how do you decide if a trader is worthy to be A booked or not? Don't we already have traditional prop firms doing that? I dont understand why people care about A-Book or B-Book. I will trust more B-Booked prop firms than A-booked, simply because 95% of traders fail. If anyone expects prop firms will A-Book just passing 2 phases is like PIPE dream. One needs to have alteast 3-5 years of solid data.
How many traders does he have trading for him? 5% of that is a large pool. Don't forget, this pool tends to grow overtime because those who are consistent in lot size, technique and safety tend to stay trading and not vanishing in a day/week/month.
All you have to do is look at signal sites like mql5, Zulu, eToro and even Darwines and Axitrade. There are lingering pools of traders working towards a goal.
They aren't asking for 3-5 years of solid data. You go tell those sites, their traders and signal buyers that they are having wet PIPE dreams.
  • #23,538
  • Oct 3, 2023 3:02pm Oct 3, 2023 3:02pm
Quoting pipmaster77
{quote} Yes, unfortunately, I think the industry is done. The CFTC knew exactly what they were doing UNRIGHTFULLY closing MFF. The impact on the industry makes it so they don't even have to go after any others. Only one I'm shocked about out of the 3 you mentioned is the 5%ers. They only have one staff member handling payouts?
Maybe because it is a Jewish holiday.


Sukkot 2023
Evening of Fri, Sep 29, 2023 – Fri, Oct 6, 2023
  • #23,539
  • Oct 3, 2023 3:28pm Oct 3, 2023 3:28pm
Quoting OutThere
{quote} How many traders does he have trading for him? 5% of that is a large pool. Don't forget, this pool tends to grow overtime because those who are consistent in lot size, technique and safety tend to stay trading and not vanishing in a day/week/month. All you have to do is look at signal sites like mql5, Zulu, eToro and even Darwines and Axitrade. There are lingering pools of traders working towards a goal. They aren't asking for 3-5 years of solid data. You go tell those sites, their traders and signal buyers that they are having wet PIPE...
Yea but there is no guarantee about the pool after couple of months or year. From prop frim perspective which one is better 95% or 5% (which may or may not be feasible and even if they are regulators may screw them). We can hardly name 5 but now a days 5 prop firms coming out daily (It has reduced since MyFF fiasco).
  • #23,540
  • Oct 3, 2023 3:33pm Oct 3, 2023 3:33pm
Quoting OutThere
{quote} Maybe because it is a Jewish holiday. Sukkot 2023 Evening of Fri, Sep 29, 2023 – Fri, Oct 6, 2023
And to think that I just paid for the 5%ers high stake today!!!
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