Prop Firm Hub | Page 1196 | 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

  • #23,901
  • Oct 9, 2023 7:52am Oct 9, 2023 7:52am
Quoting Takisd
{quote} It would be a breach in the phases. But not in the live. Because if you reached live, you have proven you can do it without the <1m trades. Live leads to emotions so its understandble sometimes shit happens. But again, its not up to me anymore I have done some ground work for other people (people you already know I believe). I was going to do it and have them involved but as mentioned, my life does not need security concerns. I am not young enough to deal with someone trying to kidnap me or threatening to kill me because they failed a challenge....
I can understand all that and in my country I would add also tax harassments to that, even if we pay all the taxes up to the last cent.
  • #23,902
  • Edited 8:21am Oct 9, 2023 7:59am | Edited 8:21am
Quoting Capablanca
{quote} Update 3: I still received the Alpha wire last night. This confirms my suspicion that Alpha is still paying and paying quickly. The one week mess was all caused by Wise. For some reason I inserted the details twice and in none of them the transfer was processed. Wise support is a bunch of useless people. They kept saying that they could not provide information to recipient (which was me) and I would have to ask to the recipient (which was me). Don't laugh. This happened 3 times. My suggestion to euro zone traders is to avoid Wise and pick...
Update 4. I received FXIFY payout after contacting them in Telegram (in live support they kept saying the case was escalated and I had to wait). It took a complete week. Monday to Monday.

So, in resume, it was a week for all of them.
- 5ers because the guy had a newborn and apparently was busy changing diapers.
- FXIFY because the form is not working for people that received a previous payout using that form (the link is always the same for what I read in telegram)
- Alpha because Wise screwed everything (Alpha seemed to be processing very fast so hats off to them)

Now waiting for e8 payout. I forgot that today is public holiday in US so there's probably no developments.
  • #23,903
  • Oct 9, 2023 9:21am Oct 9, 2023 9:21am
Just fresh out...
Inserted Video
  • #23,904
  • Oct 9, 2023 9:30am Oct 9, 2023 9:30am
Quoting TrAndy1
Just fresh out... https://www.youtube.com/watch?v=mqNIIBwnxzg
Is it filled with his staff members like the last one?
  • #23,905
  • Oct 9, 2023 9:42am Oct 9, 2023 9:42am
Quoting TrAndy1
That you have an orientation. I have realized monthly R of 1.1 on my hedge fund account, which means I can do around 13 R per year without compounding. That's me.
How much %risk per trade do you use with those parameters?
  • #23,906
  • Oct 9, 2023 9:55am Oct 9, 2023 9:55am
Quoting Takisd
{quote} Is it filled with his staff members like the last one?
idk maybe
Wise was a wrong decision he said. What amateurs, they cannot spend few hours doing some little google research to find out what is going on Wise recently ? Too bad.
  • #23,907
  • Oct 9, 2023 10:11am Oct 9, 2023 10:11am
Little bit behind the scenes of brokers with b-booking and prop firms...(SMC & ICT is bullshit he says in addition too in this video)
Inserted Video
  • #23,908
  • Oct 9, 2023 11:13am Oct 9, 2023 11:13am
Quoting TrAndy1
Little bit behind the scenes of brokers with b-booking and prop firms...(SMC & ICT is bullshit he says in addition too in this video) https://www.youtube.com/watch?v=qlhBYXNAj6w
Really funny - rotfl!
  • #23,909
  • Oct 9, 2023 11:32am Oct 9, 2023 11:32am
if people actually believed smc and ict then i dno what to say.
  • #23,910
  • Oct 9, 2023 1:22pm Oct 9, 2023 1:22pm
"My advice was trades must be above 1min, any profit from trades under 1m removed (you cant do anything with this order flow and if you send a lot of it the spreads widen at provider). No open during news only close. And switch to close only during rollover to avoid the "SPREAD SLIPPAGE WAA" headaches. "

It'd be cool if traders are not penalized for trying to open during news first minute, just limited by the platform. I believe 5%ers does something like this the last and first hour of every day, IIRC. This let's expert advisor traders have peace about letting them roll on 24/5. Yep, I know ... you're not an EA fan.

I am fine with under 1 min disallow profits, too, especially if not disqualified for it...
just remove the profits, as you say. No incentive to intentionally close <60 sec, but also no penalty needed...
sometimes it "happens", and again, some expert advisors may occasionally close quickly... those that trail, for example.
  • #23,911
  • Oct 9, 2023 1:40pm Oct 9, 2023 1:40pm
Quoting doyathink
"My advice was trades must be above 1min, any profit from trades under 1m removed (you cant do anything with this order flow and if you send a lot of it the spreads widen at provider). No open during news only close. And switch to close only during rollover to avoid the "SPREAD SLIPPAGE WAA" headaches. " It'd be cool if traders are not penalized for trying to open during news first minute, just limited by the platform. I believe 5%ers does something like this the last and first hour of every day, IIRC. This let's expert advisor traders have peace...
My idea was to automate the platform to change to close only during news and rollover.
  • #23,912
  • Oct 9, 2023 2:21pm Oct 9, 2023 2:21pm
I like that. Clean and simple. No disputes.
  • #23,913
  • Oct 9, 2023 3:09pm Oct 9, 2023 3:09pm
Quoting Takisd
{quote} My idea was to automate the platform to change to close only during news and rollover.
That's what any honest prop should do if they really cared about traders. However they know that some % of traders will fail so it's convenient to have that news rule and nothing preventing people from opening trades. Those failures are part of the business metrics.

They are not scammer, because rule is know, but they could do much better if they really cared about traders success (which they don't, as we know - we lose, they win)
  • #23,914
  • Oct 9, 2023 3:21pm Oct 9, 2023 3:21pm
Quoting Capablanca
{quote} That's what any honest prop should do if they really cared about traders. However they know that some % of traders will fail so it's convenient to have that news rule and nothing preventing people from opening trades. Those failures are part of the business metrics. They are not scammer, because rule is know, but they could do much better if they really cared about traders success (which they don't, as we know - we lose, they win)
If your own method of profit is traders losses, then sure. I don't blame them either, sometimes people deserve to lose and thats just a hard fact. But if your overall goal is profit from trade (not just fees but fees are also delicious) you need to control the trader a bit. The only solution to news trading is b book.
  • #23,915
  • Oct 9, 2023 3:36pm Oct 9, 2023 3:36pm
If an algorithm can be developed so that trading data can be holistically used against real market conditions, then I suspect that any firm making use of such a tool would likely want to minimize any interference with their traders as much as possible so that the data is organic and not skewed in any way, for best results. Perhaps the exception to this would be wild-card scenarios such as news and rollover, that may be more difficult to predict.

Point being, that any firm that adopts such an approach, in lieu of the current model, should not need to use dirty tricks and overly-restrictive rules in order to constantly try to trip up traders. The entire dynamics would change and the model would be very different, I would imagine.

I do not understand much about it, but it would seem to me that it could allow you to act as a broker without actually being a broker; the major difference being that you will provide funding while adding special rules and trading restrictions that would not normally exist with a traditional broker.

This seems like a truly hybrid model to me. Something that I do not understand is how such an algorithm would differ from what brokers already have access to? I do not know much about these things, admittedly.
  • #23,916
  • Oct 9, 2023 3:58pm Oct 9, 2023 3:58pm
Quoting Nsak3y
If an algorithm can be developed so that trading data can be holistically used against real market conditions, then I suspect that any firm making use of such a tool would likely want to minimize any interference with their traders as much as possible so that the data is organic and not skewed in any way, for best results. Perhaps the exception to this would be wild-card scenarios such as news and rollover, that may be more difficult to predict. Point being, that any firm that adopts such an approach, in lieu of the current model, should not need...
You will need to interfere a lot because not all data is created equal. For example, learning needs time, so you have to make sure trades do not open and close really quickly as those trades unintentionally become bbook. You also have to consider things like liquidity, for example if your book is net 5000 lots gold, closing your book position will cause the market to spaz out and you would lose your alpha on the close. Its far more complicated than "let the trader be". You have to shape the trader a little bit to help increase the alpha, any points increase in alpha would result in a massive benefit. If you can do a few little rules that dont really bother traders much, such as no opening during news, no opening during rollover, no gap trading no straddling and trades over 1minute or w/e time it needs then you increase your chances of alpha quite a lot. You have to remember, the retail trader in this situation is the idiot, not the algo. So you have to try to make the retail trader less of an idiot. My description might sound harsh but if you think it from a coding point of view thats how you would describe the trader.

A hybrid model is a mix of a and b book. A book is back to back hedging, so order comes in order goes out. B book is warehousing, order comes in and you hold it.

C book is basically A book with percentages.

Running a quant strategy is just running a quant strategy. It doesn't fit into any traditional box I guess, its an internalize trading strategy, proprietary in nature as the decisions it makes are completely internal but in this case you are basing its decisions on behavior of low/no alpha traders i.e retail traders.

I don't know why i have to repeat it so often, we all see it every day, retail traders lose. If you accept that wholistically, you can start to see where the opportunities are beyond b book.
  • #23,917
  • Edited 4:14pm Oct 9, 2023 4:03pm | Edited 4:14pm
hi guys, any experience with true Forex fund?
thanks in advance
  • #23,918
  • Oct 9, 2023 4:26pm Oct 9, 2023 4:26pm
Quoting Capablanca
{quote} Update 4. I received FXIFY payout after contacting them in Telegram (in live support they kept saying the case was escalated and I had to wait). It took a complete week. Monday to Monday. So, in resume, it was a week for all of them. - 5ers because the guy had a newborn and apparently was busy changing diapers. - FXIFY because the form is not working for people that received a previous payout using that form (the link is always the same for what I read in telegram) - Alpha because Wise screwed everything (Alpha seemed to be processing very...
Glad to hear you got your FXIFY payout. What method did you get the payout?

Still waiting for my funded credentials. The credential guy is busy in a Pokemon tournament
Pride always comes before destruction.... -Proverbs 16:18
  • #23,919
  • Oct 9, 2023 4:53pm Oct 9, 2023 4:53pm
Quoting Takisd
You will need to interfere a lot because not all data is created equal.
-Yes. I was speaking in terms of using dirty tricks or the usual nonsense that firms try to employ in order to fail traders. I think, you would certainly need some control, such as restrictions around news/rollover, as well as open position times etc..

In terms of hybrid, I was referring to prop/broker hybrid type model. I think, such an algorithm could work better than what a broker currently sees, assuming that the data is similar in size, since you can have more control.

Maybe it would be difficult to gauge in terms of numbers, since with prop, you are funding accounts. But on the other hand, you are forcing traders to flip an account in order to get any money back etc..

Overall, we know that the numbers will work out in your favor, and if you are also able to do some kind of b-book (or more) on top of all of that, then it should be golden, in theory.
  • #23,920
  • Oct 9, 2023 5:22pm Oct 9, 2023 5:22pm
Quoting Takisd
{quote} I don't know why i have to repeat it so often, we all see it every day, retail traders lose.
Yep, an overwhelming majority lose. Repeatedly. Regardless if its a prop firm or not. The discussion about proper prop firm structure, etc is futile. Most will never, ever pocket a profit nor payout.
Trade with confidence, trade without fear.
184 traders viewing now