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Anyone trading with a Prop firm 31 replies

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

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  • #24,561
  • Oct 23, 2023 5:59pm Oct 23, 2023 5:59pm
Quoting mrdfx
Yes I did do a search but most of it is outdated as Fidelcrest changed their conditions and rules a little while back making them a much more viable offer to consider.
-I remember looking at them a long while back, but ultimately dismissed them. I do not remember all of the reasons why.

Please let us know how things go for you.
  • #24,562
  • Oct 23, 2023 6:12pm Oct 23, 2023 6:12pm
Quoting Soros
sooo much manipulation wtf!
Hi, can you explain more? News, very high lot size, forex or not forex? Anyone else experience this?
  • #24,563
  • Oct 23, 2023 6:56pm Oct 23, 2023 6:56pm
Quoting TrAndy1
{quote} The only possible reason except running out of liquidity is, that some staff has quitted their jobs at FTMO, or even worse they got fired for whatsoever reason.
there,s alot of new jobs openings at FTMO RECENTLY. Btw for fun applied for one lets see if they respond.for my profile i am a senior engineer at reputable firm in Toronto
Extreme gut feeling trader
  • #24,564
  • Oct 23, 2023 8:31pm Oct 23, 2023 8:31pm
Quoting TrAndy1
FXIFY still has a 20% discount, are they doing payouts now ? Only delay problems or more problems ? Are they doing payouts over bank wire or only crypto ?
i took a small challenge that I lost. Leverage is just 30 for Fx and you need to pay more at checkout to get 50. Other standard options like unlimited time are also chargeable at checkout. For indices, leverage is limited to 10 which was too limited for me. I found it out after I bought the challenge.
Don't give up on your dreams. Keep sleeping.
  • #24,565
  • Oct 24, 2023 12:34am Oct 24, 2023 12:34am
Quoting montygoldy
{quote} there,s alot of new jobs openings at FTMO RECENTLY. Btw for fun applied for one lets see if they respond.for my profile i am a senior engineer at reputable firm in Toronto
some years ago,, I was offered customer service for canada based by vantagefx.
Intraday only.
  • #24,566
  • Oct 24, 2023 2:53am Oct 24, 2023 2:53am
Does anybody think it is worth to buy the $400k challenge of FXIFY, why or why not ? Do they do payouts over bank wire or not ?
  • #24,567
  • Oct 24, 2023 3:15am Oct 24, 2023 3:15am
Would you prefer buying $400k challenges on TFF or FXIFY ? Why or why not ? Who is better, TrueForexFunds or FXIFY and why do you think so ?
  • #24,568
  • Oct 24, 2023 3:17am Oct 24, 2023 3:17am
Quoting Expo33
{quote} Enough to make it worth my time
"prop trading is a good way to develop bad habits".
so bringing out all the bad habits from trading ,because of using a prop ,costs you often more then any money won.
this costs many never calculate in and wonder why they dont grow very big longterm. thatswhy you never see professional traders inside prop, because of the big losing/less winning/opportunity costs (however you call it) money longterm against trading in own account.
  • #24,569
  • Oct 24, 2023 3:18am Oct 24, 2023 3:18am
Quoting TrAndy1
Does anybody think it is worth to buy the $400k challenge of FXIFY, why or why not ? Do they do payouts over bank wire or not ?
The good thing of FXIFY is that you can request a payout+fee refund as soon as you receive the funded account and make a tiny profit (it could be just minutes after you make your first trade in the funded account). This limits the risk.

I have no idea if they bank wire. What we know here for crypto, from several experiences, is that they are quite messy since Deel kicked them out. Apparently the trick is to request the payout and then go to Telegram and ask their support to process it.
The payout form is the same for crypto and wire so I guess the same appplies. Their site live support is totally useless to solve that. Apparently only in Telegram people have been able to solve things.

They are backed by FXPIG if that means anything.
  • #24,570
  • Oct 24, 2023 3:22am Oct 24, 2023 3:22am
Quoting Trader191
{quote} "prop trading is a good way to develop bad habits". so bringing out all the bad habits from trading ,because of using a prop ,costs you often more then any money won. this costs many never calculate in and wonder why they dont grow very big longterm. thatswhy you never see professional traders inside prop, because of the big losing/less winning/opportunity costs (however you call it) money longterm against trading in own account.
Not necessarily if you trade your account in a different way.

I trade props aggressively to extract the most I can for my personal account. My personal account is traded in a completely different way, risk wise and systems wise.

The reason I trade props aggressively is because I don't believe (and I never believed) in long term relations with this (online) industry. Online props keep coming and disappearing, inventing reasons for not paying, etc. No point in developing long term relations and good habits in props.
So the right strategy (for me) is to be aggressive and extract as most as we can from them. So far, so good.
  • #24,571
  • Oct 24, 2023 3:24am Oct 24, 2023 3:24am
Quoting TrAndy1
Would you prefer buying $400k challenges on TFF or FXIFY ? Why or why not ? Who is better, TrueForexFunds or FXIFY and why do you think so ?
I heard here Takisd saying that FF can be a problem for payouts of 5 figures.

FXIFY is pretty new (I think May). I didn't hear any stories yet about denied payouts. Just these delays due to internal disorganisation.
  • #24,572
  • Oct 24, 2023 3:26am Oct 24, 2023 3:26am
Quoting TrAndy1
Would you prefer buying $400k challenges on TFF or FXIFY ? Why or why not ? Who is better, TrueForexFunds or FXIFY and why do you think so ?
From the trade execution point of view - my experience with TFF has been terrible lately - my last manual close order took longer than 30s to execute which breached my account. So I'm not with them anymore and don't plan to return. On the other hand FXIFY trading has been flawless so far
Money is made by sitting, not trading
  • #24,573
  • Oct 24, 2023 3:34am Oct 24, 2023 3:34am
Quoting Vitore
{quote} From the trade execution point of view - my experience with TFF has been terrible lately - my last manual close order took longer than 30s to execute which breached my account. So I'm not with them anymore and don't plan to return. On the other hand FXIFY trading has been flawless so far
I didn't experience that in TFF recently until today.
Today I've been experiencing that. Fortunately in quiet times, so no relevant slippage. But could have been bad in more volatile times.
  • #24,574
  • Oct 24, 2023 6:11am Oct 24, 2023 6:11am
Quoting Soros
{quote} whats your acc size?
What seems to be the problem with 5ers? They were my next account pick so it would be useful to know if there is some kind of fuckery.
  • #24,575
  • Oct 24, 2023 7:12am Oct 24, 2023 7:12am
Quoting Tobiazzek
{quote} What seems to be the problem with 5ers? They were my next account pick so it would be useful to know if there is some kind of fuckery.
had some issues yesterday, today everything seems smooth
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #24,576
  • Oct 24, 2023 7:12am Oct 24, 2023 7:12am
Quoting Trader191
{quote} "prop trading is a good way to develop bad habits". so bringing out all the bad habits from trading ,because of using a prop ,costs you often more then any money won. this costs many never calculate in and wonder why they dont grow very big longterm. thatswhy you never see professional traders inside prop, because of the big losing/less winning/opportunity costs (however you call it) money longterm against trading in own account.
Im semi newbie. But I do notice how the markets need time to breathe. Even if the way structure of prop firms rules helps traders to get discipline. It still kinda makes traders develop this habit of taking huge risks. Considering what Ive seen last year with prop firms.
Trading with pennies makes more sense.
To get a feel of the market without behavior of taking huge risks as they see the dollar signs marketed all over and massive payouts to left and right. So just a big risk and there goes into the mind. What would it hurt... If Alabama Joe can earn 1 million dollars easily according to Prop firm kid CEO. Then im sure anyone can make it too... Mind of a general prop firm trader. But each to their own.
  • #24,577
  • Oct 24, 2023 7:47am Oct 24, 2023 7:47am
Quoting donfriday
{quote} the DD is not small, for me I am okay with them I have high stake and bootcamp and they are my number 1 choice of prop firm for now .
Thanks Don.
  • #24,578
  • Oct 24, 2023 7:48am Oct 24, 2023 7:48am
Quoting Tim_isoara
{quote} About drawdown. You must to manage. If you have 10% drawdown. And risk 1% per trade, you have 10 loss trades and account it's closed. If you have 5% drawdown. And risk 0.5% per trade, you have again... 10 loss trades and account it's closed. Very good experience with 5ers. But not funded account yet.
Thanks Tim.
  • #24,579
  • Oct 24, 2023 8:23am Oct 24, 2023 8:23am
Quoting labu
{quote} Im semi newbie. But I do notice how the markets need time to breathe. Even if the way structure of prop firms rules helps traders to get discipline. It still kinda makes traders develop this habit of taking huge risks. Considering what Ive seen last year with prop firms. Trading with pennies makes more sense. To get a feel of the market without behavior of taking huge risks as they see the dollar signs marketed all over and massive payouts to left and right. So just a big risk and there goes into the mind. What would it hurt... If Alabama...
many are to young in this companies and many traders.

age is very important for trading. until 25 (for some until 30) the brain frontal lap is not developed to the end and so good long term decisions are not really easy to do. thatswhy most people do most stupid things until they are 30. bad the brain you need for trade very good is only developed to the end after 25 and older, many never use this fact. they would need a extern fontal lap ( father, moter, older friends..) to help them with long term decisions, but who is smart enough to accept someone needs help to get much better. many fail because they dont know themself (and can accept this fact) ,what they can do good and what they cant do good , so cant improve.
  • #24,580
  • Oct 24, 2023 8:59am Oct 24, 2023 8:59am
Quoting Takisd
Brace for impact folks. If you are at a prop firm other than ftmo, please ask who their dashboard provider is. If it is not inhouse, say an extra prayer. If it is, make a list here for folks to not get tangled up in whats coming. For clarity - self made dashboard good - outsourced bad.
5ers has own dashboard?
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