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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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  • #27,341
  • Edited 6:34am Dec 16, 2023 6:12am | Edited 6:34am
Given these statistics, I would probably have a chance to trade for my life in Nigeria

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  • #27,342
  • Dec 16, 2023 6:37am Dec 16, 2023 6:37am
A curiosity that means nothing. MFF recovered his url
https://myforexfunds.com/
  • #27,343
  • Edited 10:16am Dec 16, 2023 7:44am | Edited 10:16am
Quoting Paulscaff1
{quote} Are you referring to Arman Trades video mate, or just silver bullet in general?
...in general. I watched many videos about backtesting results on this Silver Bullet. Only 2 I found posted negative results, all others claiming huge profits. But then after months there is no one follow-up video about profits or huge payouts. I do not get it. If it is that successful why is no one posting huge payouts or claiming to be millionaire because of Silver Bullet setup ? This looks too strange. I would say it does not work, though it can have smaller runups of course too. But overall net profit=0.
  • #27,344
  • Dec 16, 2023 1:03pm Dec 16, 2023 1:03pm
Friday I was able to bring my PA account over the top and made ten days trading.
Super stoked!
I requested my first Apex payout this morning of $1K only as I decided to leave more buffer.($1790)
Now that I have zero financial risk(only time) involved it feels good. I will be trading more conservatively now with smaller lot sizes.
My next step is to buy the Replikanto software for Ninjatrader so I can copy trade multiple accounts with ATM's on all trades(much safer).
It costs $150 with a 20% off coupon and should be worth every penny.
So I guess I am fully sucked into trading Futures now and will make my goal to get 20 PA accounts as soon as possible.
I am going to approach the challenges more carefully, put in the extra time to increase my pass rate at the cost of more hours.
To those that have not succeeded, if you know you have an edge, keep trying. So far Apex has shown zero sign of being greasy like the FX Props. Nor have there been a plethora of negative comments indicating shady ripoff practices. I have no patience for intentional trading transaction manipulation. Unlike my FX broker accounts I have no money to lose at his point.
To those who are successful Prop traders for a living thanks for the support and please keep posting your shared knowledge.
Thanks to everyone collaborating here, much appreciated.
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  • #27,345
  • Dec 16, 2023 1:21pm Dec 16, 2023 1:21pm
Quoting TrAndy1
Now I know why the construction cost do explode every time 6 fold or many times when there is city or town the money giver from our taxes of course. I just get faster internet here at my home, and they were working all day in front of the house. Half of time not seen at the place and then 2 were looking what one person was doing/working. No wonder they are behind 2 years now. I should get the fast internet connection in spring 2022. Now it is already 2024. If everyone would work in that way, on trading things....JEEZ. Now when it gets totally dark...
Maybe just get yourself a Starlink. I trade with it when traveling and it works great anywhere you can see the sky.
  • #27,346
  • Dec 16, 2023 1:49pm Dec 16, 2023 1:49pm
Got an email from Alpha Capital with a promo code apologizing for their website issues.

Not a recommendation but the promo code for 40% off is XMAS40
Pride always comes before destruction.... -Proverbs 16:18
  • #27,347
  • Dec 16, 2023 3:07pm Dec 16, 2023 3:07pm
Quoting josh1111
Friday I was able to bring my PA account over the top and made ten days trading. Super stoked! I requested my first Apex payout this morning of $1K only as I decided to leave more buffer.($1790) Now that I have zero financial risk(only time) involved it feels good. I will be trading more conservatively now with smaller lot sizes. My next step is to buy the Replikanto software for Ninjatrader so I can copy trade multiple accounts with ATM's on all trades(much safer). It costs $150 with a 20% off coupon and should be worth every penny. So I guess...
Looks like Apex has paid last month two traders around 1.2 million each....

Inserted Video
  • #27,348
  • Dec 16, 2023 3:21pm Dec 16, 2023 3:21pm
I didn't know but MyFlashFunding is also a prop from Sean Bainton (besides Bluw Guardian and Aqua Funded).
Confirmed by Sean himself.
https://twitter.com/lukasstibor/stat...76395422040275
  • #27,349
  • Dec 16, 2023 6:48pm Dec 16, 2023 6:48pm
Quoting ladder
{quote} Around 20K$ to get an out-of-box prop from solution providers. That's why you see so many 20 year-old CEOs in this industry.
Can get white label prop firm setups a lot lower than that.

maahome
  • #27,350
  • Edited 8:05pm Dec 16, 2023 7:32pm | Edited 8:05pm
MFF vs CFTC case update...

The parties have engaged in preliminary settlement discussions. Counsel for the CFTC is working to formulate, and obtain authority from the
CFTC’s Division of Enforcement to make, a provisional settlement offer, i.e., a settlement offer subject to approval by vote of the Commission.

The parties have met pursuant to Fed. R. Civ. P. 26(f). The meeting took place on December 13, 2023


Takisd mentioned early on that this is where we would likely end up.

Based on the trial schedules (Oct 2024 final discovery deadline... SMH), if this thing goes to trial there will be no resolution until 2025.
  • #27,351
  • Dec 16, 2023 9:23pm Dec 16, 2023 9:23pm
Quoting CableJ
MFF vs CFTC case update... The parties have engaged in preliminary settlement discussions. Counsel for the CFTC is working to formulate, and obtain authority from the CFTC’s Division of Enforcement to make, a provisional settlement offer, i.e., a settlement offer subject to approval by vote of the Commission. The parties have met pursuant to Fed. R. Civ. P. 26(f). The meeting took place on December 13, 2023 Takisd mentioned early on that this is where we would likely end up. Based on the trial schedules (Oct 2024 final discovery deadline... SMH),...
I said this would be dragged out from the beginning.

Too bad for MFF. Unfortunately, even if they get back in business one day they will be like cum stained underwear.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,352
  • Edited 11:15pm Dec 16, 2023 11:02pm | Edited 11:15pm
Quoting Expo33
{quote} I said this would be dragged out from the beginning. Too bad for MFF. Unfortunately, even if they get back in business one day they will be like cum stained underwear.
Facing a potential unconstitutional shut down for >1 year while Surge Trader w/ Mr. Ponzi Scheme CEO is still open for business
  • #27,353
  • Dec 17, 2023 1:18am Dec 17, 2023 1:18am
Quoting CableJ
{quote} Facing a potential unconstitutional shut down for >1 year while Surge Trader w/ Mr. Ponzi Scheme CEO is still open for business
Unfortunately, the damage has been done and the industry will move on.

Kazmi should just try and recover his millions, retain his toys, and move on to another venture.
Pride always comes before destruction.... -Proverbs 16:18
  • #27,354
  • Dec 17, 2023 4:40am Dec 17, 2023 4:40am
Quoting CableJ
MFF vs CFTC case update... The parties have engaged in preliminary settlement discussions. Counsel for the CFTC is working to formulate, and obtain authority from the CFTC’s Division of Enforcement to make, a provisional settlement offer, i.e., a settlement offer subject to approval by vote of the Commission. The parties have met pursuant to Fed. R. Civ. P. 26(f). The meeting took place on December 13, 2023 Takisd mentioned early on that this is where we would likely end up. Based on the trial schedules (Oct 2024 final discovery deadline... SMH),...
That settlement is going to look very different if the special master and judge rule that the CFTC committed perjury.
  • #27,355
  • Dec 17, 2023 5:24am Dec 17, 2023 5:24am
Quoting Expo33
Too bad for MFF. Unfortunately, even if they get back in business one day they will be like cum stained underwear.
-Probably, it will depend on what will be required going forward, as well as how much of the original model (if any) can be maintained.

Surviving this kind of scrutiny would certainly carry a lot of weight in terms of credibility and security going forward, which would likely put MFF back on top again. (just my opinion)

But I do not predict that this will happen. I predict that the CFTC push very hard to have their definitions and classifications recognized and validated so that their scope of regulation will not only be applicable to this space, but will create a sort of legalized, undue burden on any firm that wishes to operate here, essentially rendering it a ghost town. (their motive, all along)

Maybe some firms will decide to relocate to more friendly jurisdictions. Doing so may require them to strip all of their branding and start over, completely anonymously, offering crypto-only solutions.

If the jurisdictional move doesn't happen, then for those that continue to seek out funding, the inevitable move to futures seems likely.
  • #27,356
  • Dec 17, 2023 7:56am Dec 17, 2023 7:56am
Quoting Expo33
Got an email from Alpha Capital with a promo code apologizing for their website issues. Not a recommendation but the promo code for 40% off is XMAS40

Aren't they reliable? I'm planning to buy a big challenge, currently trading with mid one , n so far so good. They don't increase the spreads on rollover time crazyly to shut traders like few popular firm. Haven't received any payments yet, n due date is after 25th may be, so no idea about payment.
  • #27,357
  • Dec 17, 2023 8:13am Dec 17, 2023 8:13am
Quoting Nsak3y
{quote}-Probably, it will depend on what will be required going forward, as well as how much of the original model (if any) can be maintained. Surviving this kind of scrutiny would certainly carry a lot of weight in terms of credibility and security going forward, which would likely put MFF back on top again. (just my opinion) But I do not predict that this will happen. I predict that the CFTC push very hard to have their definitions and classifications recognized and validated so that their scope of regulation will not only be applicable to this...
This is my impression as well. The purpose of the MFF case is not MFF its the industry. It makes the outcome unpredictable.
  • #27,358
  • Edited 8:56am Dec 17, 2023 8:45am | Edited 8:56am
Could the current model survive under...

Clear marketing + disclosures on website & contract of exactly when accounts are simulated & switched to live
Monthly pass/fail statistics on main site
>20M capital requirements like US brokers
Electronic reporting to CFTC/NFA like US brokers
Tax reporting to IRS
Regulated broker feed similar to the futures side w/ Rithmic/Tradovate/Ninja trader (MFF was hinting @ starting their own brokerage)
OTC FX only or completely switching over to futures
Leverage dropped to 50:1 (FX)

If the largest props (FTMO, MFF, Topstep & Apex) could comply with all the above while everyone else was forced out of North America (1/3 of entire prop market) due to inability to comply, that could be a win for them.
  • #27,359
  • Dec 17, 2023 8:51am Dec 17, 2023 8:51am
Quoting CableJ
Could the current model survive under... Clear marketing + disclosures on website & contract of simulated/live accounts Monthly pass/fail statistics on main site Electronic reporting to CFTC/NFA Tax reporting to IRS >20M capital requirements like US brokers Regulated broker feed similar to the futures side w/ Rithmic/Tradovate/Ninja trader) OTC FX only or completely switching over to futures
No. It will die in a heart beat. The lack of overhead is the cause of the model explosion.
  • #27,360
  • Dec 17, 2023 9:00am Dec 17, 2023 9:00am
Quoting CableJ
Could the current model survive under... Clear marketing + disclosures on website & contract of exactly when accounts are simulated & switched to live Monthly pass/fail statistics on main site >20M capital requirements like US brokers Electronic reporting to CFTC/NFA like US brokers Tax reporting to IRS Regulated broker feed similar to the futures side w/ Rithmic/Tradovate/Ninja trader OTC FX only or completely switching over to futures Leverage dropped to 50:1 If the largest props (FTMO, MFF, Topstep & Apex) could comply with all the above while...
If one could still, pick up a 100K for $500, targets vs. DD remained the same......I'm in all day.
Matter of fact, everything you mention is welcome in my eyes (other than the OTC ban).... it would do exactly what I would hope for......eliminate every scammy, undercapitalized firm that has popped up in the past 12-18 months.
We would essentially be back to the two firms I/we constantly told everyone in this thread to max before entertaining any of the others.
This space is the swamp that it is now BECAUSE people gave business to the lying, cheating thieves that comprise 95% of the space now.
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