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  • #26,581
  • Nov 25, 2023 6:01pm Nov 25, 2023 6:01pm
Quoting Nehemah
{quote} A real scalper, by definition, does not trade CFDs so at this level it will not change much
as example, for daytraders in currencies futures have not one single advantage against cfd with a good broker, if you know one you can say.

so depends on your timeframe you trade, what broker you trade and trading market.
  • #26,582
  • Nov 25, 2023 6:18pm Nov 25, 2023 6:18pm
Quoting TrAndy1
{quote} You know Tom Hougaard a real scalper but only trading CFDs with millions for a living for many years right now ? And he is trading Indices mainly. So it really depends..
but he trades with TD365.COM and promotes this broker extrem, in general you would not trade with such a broker for try to get very big wins when you can chose much better and bigger.

so dont know if he makes real wins or is a good trader. in general good traders of this kind dont chose such brokers and at this level you simple take futures for indices and buy a sit at the exchange to reduce costs.
  • #26,583
  • Nov 25, 2023 6:39pm Nov 25, 2023 6:39pm
From what I have heard is, that in the banks they bosses want to see at least 25 pips average trade on their Forex traders. That could explain why certain short term strategies are now banned in the banks. So some props are just following years later now. There is still FTMO and Apex for that. Otherwise you need a good FX broker for scalping Forex. Not any FX broker will allow you to have toxic flow and that with good trading conditions. Even when the broker is A-booking their liquidity provider could rejects trades and that would cause the broker to end the relationship with you. So it is not easy to realize it, though you have a profitable strategy here.
  • #26,584
  • Nov 25, 2023 9:39pm Nov 25, 2023 9:39pm
Quoting pipmaster77
{quote} I have not traded my TFT account (only 100K) since the MFF situation and I never did join E8. There are some real garbadge, scammy firms around now and TFT is definitely one of them. Hoping MFF comes back, if not, I am still funded at FTMO, TFF and just about there with the 5%ers. Been doing a lot of research as of late, and the only 2 I would consider beyond those 3 is Funding Pips and Funded Engineer. APEX for futures, although I need to readjust some risk settings to work with the trailing DD.

I have not used my 200K with TFT since Aug too, so don't get me wrong, Angelo is still a slimmy crook. He wouldn't be doing this if TFT were not having payment issues, they are very likely insolvent. That being said, I do like the idea.
  • #26,585
  • Edited Nov 26, 2023 12:50am Nov 25, 2023 10:34pm | Edited Nov 26, 2023 12:50am
Quoting OutThere
{quote} Hi. Can you please list how many challenges you have blown so far? I remember you started with 10 challenges a couple of months ago and added many more after that. How many total?
FIVE 100k challenges together (100k fxify, 100k bespoke, 100k smartproptrader, 100k skilledfunded and 100k fundednext) for total 2.1k all with very good discounts. Only bespoke survived and funded with them.
Then THREE 200k challenges with skilledfunded, myflashfunding and blueguardian for same 2.1k. Out of which got funded on skilledfunded and myflashfunding. THen lost the myflashfunding funded without any payout. Currently 4k is there on skilledfundedtrader and not trading on it anymore waiting for payout.
For my experience been trading for 5 years as a hobby as i am fulltime Software Engineer.

Plus i adapt and learn from my mistakes quickly as what i do in my job.
Extreme gut feeling trader
  • #26,586
  • Edited 10:58pm Nov 25, 2023 10:45pm | Edited 10:58pm
Quoting Trader191
{quote} be more realistic! If you are a seasoned trader you would trade own real accounts with some millions, because you would have good success over many years. we speak in prop not about this type of traders, seasoned trader are not idiots and know their opportunity costs. prop are not for seasoned trader, they are for the people between beginner and medium level or maximum around medium level, who know something about trading but did not have any big consistency or any big profit in money from this. when you hold prop realistic then you can...
The whole point was to milk the money out of them if your a long term profitable trader with an EDGE & DISCIPLINE.
In my opinion Prop firms are only for people who lack funding (i.e MILLION in this case) so that they can fast track their personal account with minimum investment.

Rather than trying to flip 2k to 100k whynot try to get funded with 2k worth of challenges.

I keep things simple with charts and math.
Get 10 accounts from 10 firms worth 200k and pull 10k i.e (5% easily achievable at least for me) out of them in total Wallah you have a 100k personal account. It's not hypothetical a lot of traders are doing this n way way more.

So it all boils down to your own preference and RISK APPETITE as well.
Also in my opinion PROP FIRMS shouldn't only be a source of forex trading instead a helper that fast track your personal goals.
Extreme gut feeling trader
  • #26,587
  • Nov 25, 2023 11:15pm Nov 25, 2023 11:15pm
Quoting montygoldy
{quote} The whole point was to milk the money out of them if your a long term profitable trader with an EDGE & DISCIPLINE. In my opinion Prop firms are only for people who lack funding (i.e MILLION in this case) so that they can fast track their personal account with minimum investment. Rather than trying to flip 2k to 100k whynot try to get funded with 2k worth of challenges. I keep things simple with charts and math. Get 10 accounts from 10 firms worth 200k and pull 10k i.e (5% easily achievable at least for me) out of them in total Wallah you...
Maybe risk management researching who actually pays might be a good plan too.
Being software engineer and such you deal with alot of variables. But Ive never seen you once mention a unbiased view of rating any prop firm who might actually pay vs before making your own investment. So how would that work create a software leaving out a crucial variable which would make the program collapse. So my question is. Why do you leave out a massive variable that will crash the program in this"hobby" .

Each to their own mate, party pool vegas style gamble all you want. But for semi newbies as me. I would warn against anyone who leaves out any variable which is the central. Does the prop firm payout? By which frequency is it confirmed by others, before investing in it. This post is mostly aimed at indian guys who uses their last saved coins on prop firms.
  • #26,588
  • Nov 26, 2023 12:25am Nov 26, 2023 12:25am
Quoting montygoldy
{quote} FIVE 100k challenges together (100k fxify, 100k bespoke, 100k smartproptrader, 100k skilledfunded and 100k fundednext) for total 2.1k all with very good discounts. Only bespoke survived and funded with them. Then THREE 200k challenges with skilledfunded, myflashfunding and blueguardian. Out of which got funded on skilledfunded and myflashfunding. THen lost the myflashfunding funded without any payout. Currently 4k is there on skilledfundedtrader and not trading on it anymore waiting for payout. For my experience been trading for 5 years...
Paying for and taking challenges with all these firms is never a problem, actually getting payouts out of them is the big issue.
  • #26,589
  • Edited 1:03am Nov 26, 2023 12:34am | Edited 1:03am
Quoting labu
{quote} Maybe risk management researching who actually pays might be a good plan too. Being software engineer and such you deal with alot of variables. But Ive never seen you once mention a unbiased view of rating any prop firm who might actually pay vs before making your own investment. So how would that work create a software leaving out a crucial variable which would make the program collapse. So my question is. Why do you leave out a massive variable that will crash the program in this"hobby" . Each to their own mate, party pool vegas style...
As i said not here to promote any PROP firm or the industry in its own on the flipside i am a newbie. So it depends on the RISK APETITE. I do my own research and also all of them are paying at least for now. There will always be a FEW who get denied for Some Reason (happens everywhere not just the prop firms even with forex brokers as well) so rather than focussing on 1% who's getting denied look at 99% who getting their payouts.

So in the end everyone has a choice either sit on the sidelines or take the risk and probably get a piece of the pie. Choice is yours as it is your MONEY and EFFORTS.

I have an example to add here one of my offshore broker for personal forex account is LQDFX. People will say "OOO... so risky not regulated shady broker" and if you check the forexpeacearmy for reviews you'll find there will always be few complaining this n that. I have been using them for 3+ years without any issues and 180k+++ in total payouts hassle free(i mean like same day).


DISCLAIMER: ALSO I openly post my results WINS/LOSSES truthfully not to BRAG or not to get a sense of SUPERSTAR TRADER here. Instead, its show anything is possible with trading and it can change your life completely like it did mine. Also to motivate others failures and learning is the LADDER to success. In the end i make money and it goes to my bank won't matter whatever anyone thinks that's my 2 cents.
Also my believe is "TRADE FOR LUXURY NOT FOR SURVIVAL"
Extreme gut feeling trader
  • #26,590
  • Nov 26, 2023 2:46am Nov 26, 2023 2:46am
@Montygoldy,

"I have an example to add here one of my offshore broker for personal forex account is LQDFX. People will say "OOO... so risky not regulated shady broker" and if you check the forexpeacearmy for reviews you'll find there will always be few complaining this n that. I have been using them for 3+ years without any issues and 180k+++ in total payouts hassle free(i mean like same day)."

I have also been with LQDFX since they started - never had any issues with them at all and I have several friends and associates who also use them (including US citizens).
Cheers
maahome
  • #26,591
  • Nov 26, 2023 3:20am Nov 26, 2023 3:20am
Quoting Trader191
{quote} be more realistic! If you are a seasoned trader you would trade own real accounts with some millions, because you would have good success over many years. we speak in prop not about this type of traders, seasoned trader are not idiots and know their opportunity costs. prop are not for seasoned trader, they are for the people between beginner and medium level or maximum around medium level, who know something about trading but did not have any big consistency or any big profit in money from this. when you hold prop realistic then you can...
People use to know that if you are a good trader the money will find you.

With all respect, those people are very far from real life. What should a good trader, in a small village, in the middle of Nigeria or Vietname, do ? Pack their things and go to Chicago, NY, London or Paris trying to find someone to back them ? Most of those persons don't even have money to buy a plane ticket ! Some even struggle to find money to buy a challenge. Online props is a great opportunity for them.
  • #26,592
  • Nov 26, 2023 3:25am Nov 26, 2023 3:25am
Quoting Nehemah
{quote} I have never had the slightest problem with them in 15 months. The question is whether they want to eradicate the winners or rather limit the big winners
Me neither but I don't have a payout with them for a long time (I almost gave up that account).

I believe it will be mostly for the big winners (it's a way of setting a cap) but they may also look at you in accumulated terms.

Meaning that if you accumulated 50K in 10x5K withdraws they may also consider you a liability and try to kick you out.
  • #26,593
  • Nov 26, 2023 5:26am Nov 26, 2023 5:26am
Quoting Vitore
{quote} Hi Takisd - would you change anything on that list now 2 weeks later? I'm mainly interested about the E8 and FXIFY future
Nope. Right now everyone is not on my list. Too many weird changes, december coming around when props usually dont make money. Honestly, I really have lost a lot of interest in props now with their behavior.

People i know were going to go ahead and build one differently, I told them it needs to be way different to the point its not recognizable as a prop but still have an offering that lures people and dodges the regulatory impact that is coming slowly.
  • #26,594
  • Nov 26, 2023 8:17am Nov 26, 2023 8:17am
Quoting montygoldy
{quote} The whole point was to milk the money out of them if your a long term profitable trader with an EDGE & DISCIPLINE. In my opinion Prop firms are only for people who lack funding (i.e MILLION in this case) so that they can fast track their personal account with minimum investment. Rather than trying to flip 2k to 100k whynot try to get funded with 2k worth of challenges. I keep things simple with charts and math. Get 10 accounts from 10 firms worth 200k and pull 10k i.e (5% easily achievable at least for me) out of them in total Wallah you...
yes i understand your idea. but the idea of this social prop is to take the money from the traders (just like a casino with a mathematical edge), not help the traders, that was never the idea behind.
there are so many who fake the wins with prop or you see so many big fake payouts as marketing solution, because people like nig numbers and so its done. never underestimate fear of missing out this big money and greed and people fascinated by get rich easy and fast (this makes the marketing for all bad companies/ coaching/ whatever). never underestimate how many liars and marketing words and done in forums and internet, just to let a company look better (dont trust words in internet and forums when is against math).

it cant be a lot of traders are doing this n way way more like you, because so many traders winning big are not possible to survive in this Business with this constructed social prop companies. this prop never win in any trade , they do only by the fees. so this traders would simple make the company bankrupt so can only exist small parts, many payouts you see are fake and some win smaller and many lose, its just simple math. you cant run a own big casino in a casino.
  • #26,595
  • Nov 26, 2023 8:29am Nov 26, 2023 8:29am
Quoting montygoldy
{quote} As i said not here to promote any PROP firm or the industry in its own on the flipside i am a newbie. So it depends on the RISK APETITE. I do my own research and also all of them are paying at least for now. There will always be a FEW who get denied for Some Reason (happens everywhere not just the prop firms even with forex brokers as well) so rather than focussing on 1% who's getting denied look at 99% who getting their payouts. So in the end everyone has a choice either sit on the sidelines or take the risk and probably get a piece of...
never heard about this broker, sound very small , also so less reviews. normal brokers have thousands of reviews and this broker only has 29 in trustpilot.com, what is to less to judge it.

is it pure b book?
even in b book you can win, when you have a strategy that match his flow.
  • #26,596
  • Nov 26, 2023 8:32am Nov 26, 2023 8:32am
Quoting Capablanca
{quote} People use to know that if you are a good trader the money will find you. With all respect, those people are very far from real life. What should a good trader, in a small village, in the middle of Nigeria or Vietname, do ? Pack their things and go to Chicago, NY, London or Paris trying to find someone to back them ? Most of those persons don't even have money to buy a plane ticket ! Some even struggle to find money to buy a challenge. Online props is a great opportunity for them.
if you are a good trader, then just do "big" (much higher then nasdaq ) consistent wins each year.... what is bad by go from 500 to 5 million in 20 years? yes its not fast and immediately and is slow and steady. but for a constistent traders is this possible with a low failure rate, the other plan is 1% chance maybe (but still here some get it. because so many try this way , so 1% is still thousand have it done by even only luck... from the 99% who fail you dont hear). and noone will fund anyone when he dont have thousands of trades and many 100k won in own account and know feeling how to trade big private accounts and do this many years. you need to find an idiot to invest in you earlier , because chance you fail is then about 99%.
  • #26,597
  • Nov 26, 2023 8:42am Nov 26, 2023 8:42am
Quoting Takisd
{quote} Nope. Right now everyone is not on my list. Too many weird changes, december coming around when props usually dont make money. Honestly, I really have lost a lot of interest in props now with their behavior. People i know were going to go ahead and build one differently, I told them it needs to be way different to the point its not recognizable as a prop but still have an offering that lures people and dodges the regulatory impact that is coming slowly.
but thats a good sign. you are on the way to a good trader, because sounds your opportunity costs are high enough to think about and cant take any prop.
  • #26,598
  • Nov 26, 2023 9:57am Nov 26, 2023 9:57am
Quoting Capablanca
{quote} Me neither but I don't have a payout with them for a long time (I almost gave up that account). I believe it will be mostly for the big winners (it's a way of setting a cap) but they may also look at you in accumulated terms. Meaning that if you accumulated 50K in 10x5K withdraws they may also consider you a liability and try to kick you out.
I have a problem with the turn of events with TFT. For me, despite their clownish side, they have several advantages: I have never had a problem with withdrawals, they have excellent promotions, the support is efficient. It's a huge, well-oiled machine and I think they have everything to lose by making these stupid new rules. I'm not willing to leave TFT at this time but one misstep on their part and I will reconsider my future with them.
  • #26,599
  • Nov 26, 2023 10:01am Nov 26, 2023 10:01am
Quoting labu
{quote} Maybe risk management researching who actually pays might be a good plan too. Being software engineer and such you deal with alot of variables. But Ive never seen you once mention a unbiased view of rating any prop firm who might actually pay vs before making your own investment. So how would that work create a software leaving out a crucial variable which would make the program collapse. So my question is. Why do you leave out a massive variable that will crash the program in this"hobby" . Each to their own mate, party pool vegas style...
Exactly, I fully agree with the approach. You will amplify your personal account 10-12 times faster vs. trading the same on your own. This is with the traditional 2 step, 8-10%/5% target(s) with 10% DD.
However, the choice in firms is suspect, at best. I get wanting to accomplish this with the lowest risk possible, but the firm(s) not paying is a bigger risk than the extra $100-$150 being saved.
  • #26,600
  • Nov 26, 2023 10:06am Nov 26, 2023 10:06am
Quoting Trader191
{quote} but thats a good sign. you are on the way to a good trader, because sounds your opportunity costs are high enough to think about and cant take any prop.
lol....on this way, this guy has owned broker houses, probably has 30+ years experience.
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