Prop Firm Hub | Page 1540 | 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

  • #30,781
  • Feb 16, 2024 10:35am Feb 16, 2024 10:35am
Quoting Capablanca
{quote} This is slightly different from what I thought. Apparently they are only moving US traders to DX. {image} The way I read this is that they don't want to kick existing US traders (better to let them blow the accounts for reputation) but, at the same time, they don't want to jeopardize Meta license for the rest of the world keeping existing US people in meta. This doesn't mean that they are willing to accept US traders in the future in DX.
smarter but still not legal
  • #30,782
  • Feb 16, 2024 10:35am Feb 16, 2024 10:35am
Quoting woody70
Well with these guys you stop paying the monthly fee when you become funded. I don't know jack about futures but just read that on the website.
Not paying monthly fee as soon as you get to funded is pretty standard in futures props. No difference from any of the others.
  • #30,783
  • Feb 16, 2024 10:37am Feb 16, 2024 10:37am
Quoting Cryptosurf
{quote} I had a trade day account before moving over to Apex. There’s nothing wrong with them, just found the Apex more interesting and intriguing with their multiple accounts.
that’s good to know, as I’ve been reading about TradeDay. Was attracted to their TV integration, as I have no patience for learning another platform aside from MT or TV
A snails pace wins the race :-)
  • #30,784
  • Feb 16, 2024 10:39am Feb 16, 2024 10:39am
Quoting Takisd
{quote} smarter but still not legal
yep, but I guess they are balancing legality with:
1. Not having to refund challenges that are still alive (they have stats to understand when it's likely that people die)
2. Not having to pay profits above starting balance
3. Not having to refund account that didn't get to a payout yet
  • #30,785
  • Feb 16, 2024 10:41am Feb 16, 2024 10:41am
Quoting Cryptosurf
{quote} I had a trade day account before moving over to Apex. There’s nothing wrong with them, just found the Apex more interesting and intriguing with their multiple accounts.
I can imagine Apex and all the others being flooded from now on (even more) by "desperate us people" to prop trade.
  • #30,786
  • Feb 16, 2024 10:42am Feb 16, 2024 10:42am
Quoting Capablanca
{quote} yep, but I guess they are balancing legality with: 1. Not having to refund challenges that are still alive (they have stats to understand when it's likely that people die) 2. Not having to pay profits above starting balance 3. Not having to refund account that didn't get to a payout yet
The regulators are screwing the pooch on all this right now.
  • #30,787
  • Feb 16, 2024 10:43am Feb 16, 2024 10:43am
Quoting Capablanca
{quote} I'm going to give you the benefit of doubt and not think that you are promoting a prop if you can explain why are these guys different from the ones like TopStep, Apex, E2T which are only "churning monthly subscription fees". {image}
I explained it in my original post. The others all have a permanent intraday trailing drawdown which is a designed trap to have traders blow out their evaluation accounts AND their funded accounts.

TradeDay is the ONLY one that locks a floor to the drawdown rule. If you start TradeDay with a $50K account, you have an initial $2K drawdown. Each day you close with a profit, that drawdown floor is moved up by the amount of your closed profit. Once you have $2K in closed profit, your drawdown floor is locked at $50,000.00. With all the others, your drawdown floor keeps trailing up with the profits until you inevitably go bust and have to go back to the evaluation stage.

The benefit of a trailing end of day drawdown versus the intraday drawdown all the others enforce should be apparent to anyone who has a modicum of trading experience: If you enter a trade, and you find yourself up $1100, and you are trailing a stop, and you give back $550, you had a great day - you made $550! But, with Topstep, Apex, and Earn2Trade, your max drawdown isn't increased by $550, the amount of your closed profit. It is increased by the $11)) intraday peak profit you had. How is that fair? How does that encourage good trading habits? Answer: It isn't fair and it doesn't encourage good trading habits. It is designed for one function: Cause the greatest number of traders to hit their max drawdown and lose their account. That is plain to me.

Also, once you are funded with TradingDay, the monthly sub fee STOPS. I do not believe that is the case with the others.

Again, I explained everything in my original post. Anyone is welcome to do his or her own due diligence.

I've been at FF long enough for anyone who cares to look into me to know that I'm no shill for anyone. I was sharing my opinion about a firm that does things old school and seems to be set up actually to fund profitable traders and to allow and encourage them to grow their accounts.

I take it from your screen shot that you're objecting to the cost. Business is business. The benefits TradeDay offers seem well worth the extra cost. Rather than asking why is TradeDay so much more, why not ask why are the others so much less?

Again, to each his own. Caveat Emptor.

Cheaper isn't necessarily better. In fact, in most things in life, cheaper is decidedly worse.
Life itself is a privilege, but to live life to the fullest is a choice
  • #30,788
  • Feb 16, 2024 10:44am Feb 16, 2024 10:44am
Quoting JustPipMe
{quote} that’s good to know, as I’ve been reading about TradeDay. Was attracted to their TV integration, as I have no patience for learning another platform aside from MT or TV
Most if not all Futures prop firms have that ability via the Tradovate platform. Its not isolated to TradeDay. Just know that Tradingview's integration with Tradovate causes latency in order executions.
Trade with confidence, trade without fear.
  • #30,789
  • Feb 16, 2024 10:47am Feb 16, 2024 10:47am
welp...

Attached Image (click to enlarge)
Click to Enlarge Name: 5ers.png Size: 17 KB
Trade with confidence, trade without fear.
  • #30,790
  • Feb 16, 2024 10:48am Feb 16, 2024 10:48am
Quoting Cryptosurf
{quote} I had a trade day account before moving over to Apex. There’s nothing wrong with them, just found the Apex more interesting and intriguing with their multiple accounts.
I guess I don't see the value of having multiple funded accounts vs building one account.

I'd rather have one account to manage. Do one evaluation. Get funded. Build the account.

Everything about Apex seems designed to get people addicted to the game and then maximize the fees they pay to Apex to feed their addiction.
Life itself is a privilege, but to live life to the fullest is a choice
  • #30,791
  • Feb 16, 2024 10:49am Feb 16, 2024 10:49am
Quoting Capablanca
{quote} I can imagine Apex and all the others being flooded from now on (even more) by "desperate us people" to prop trade.
Its been like that for the past few months. As FXprop firms were drying up, the degens caught wind of another drug of choice
Trade with confidence, trade without fear.
  • #30,792
  • Feb 16, 2024 10:53am Feb 16, 2024 10:53am
Quoting vidvad
{quote} I guess I don't see the value of having multiple funded accounts vs building one account. I'd rather have one account to manage. Do one evaluation. Get funded. Build the account. Everything about Apex seems designed to get people addicted to the game and then maximize the fees they pay to Apex to feed their addiction.
If you know how to play the game, then most of these future props are honeypots.
Trade with confidence, trade without fear.
  • #30,793
  • Feb 16, 2024 11:05am Feb 16, 2024 11:05am
Quoting vidvad
{quote} I explained it in my original post. The others all have a permanent intraday trailing drawdown which is a designed trap to have traders blow out their evaluation accounts AND their funded accounts. TradeDay is the ONLY one that locks a floor to the drawdown rule. If you start TradeDay with a $50K account, you have an initial $2K drawdown. Each day you close with a profit, that drawdown floor is moved up by the amount of your closed profit. Once you have $2K in closed profit, your drawdown floor is locked at $50,000.00. With all the others,...
I trust you're in good faith so Let me just address your points:

- EOD trailing - that is not the only company that has EDO trailing DD. Out of my mind also TopStep, Upprofit and MyFundedFutures (apex is intraday, in fact, which is obviously worse). So TradingDay doesn't bring anything different wih this EOD trailing.

- Prices - I was not claiming about price level. I was just pointing out that they have a monthly fee, just like the others. So if the other are just "churning" monthly fees, so do these guys. There's no differnece.

- Cap level - all of them cap the max DD at the starting balance so, again, nothing different.

So my question stands: what exactly do these guys bring differently from the existing ones ? It's always good to learn from whoever did the homework, comparing multiple props, which I guess you did. I didn't know them that's why I'm asking.
  • #30,794
  • Feb 16, 2024 11:42am Feb 16, 2024 11:42am
NOK about Alpha
https://twitter.com/epfregnews/statu...41823037726964
https://twitter.com/epfregnews/statu...06386319884663

Interesting. I guess it can be reverse engineered
  • #30,795
  • Edited 12:18pm Feb 16, 2024 11:43am | Edited 12:18pm
Smart Prop Trader sued their marketing agency Radical Company LLC [the company with which they have marketing and SEO agreements] for failure to deliver services. SPT is claiming 320,000 USD as damages. SPT has two separate agreements wit Radical. 1] for marketing [40K SD per month as charges] 2] For SEO [20K USD per month as charges]. It seems Radical outsorced the SEO work to an Indian company DWS.
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-16_191815.jpg Size: 40 KB
  • #30,796
  • Feb 16, 2024 12:16pm Feb 16, 2024 12:16pm
Quoting TrAndy1
Smart Prop Trader sued their marketing agency Radical Company LLC [the company with which they have marketing and SEO agreements] for failure to deliver services. SPT is claiming 320,000 USD as damages. SPT has two separate agreements wit Radical. 1] for marketing [40K SD per month as charges] 2] For SEO [20K USD per month as charges]. It seems Radical outsorced the SEO work to an Indian company DWS.
This just shows management is extremely bad. Why didn't they ask for the reports? Why didn't they cross check their progress? I hear a lot that these prop firms are managed by people who have no idea what is going on in their company and complain when they have work to do.
  • #30,797
  • Feb 16, 2024 12:25pm Feb 16, 2024 12:25pm
If propfirms are offering / intending to offer DX Trade or CTrader or Matchtrader as alternate to MT for US clients, it is going to be shortlived. At best 6 to 9 months time.
  • #30,798
  • Feb 16, 2024 12:28pm Feb 16, 2024 12:28pm
Attached Image (click to enlarge)
Click to Enlarge Name: 2024-02-16_192803.jpg Size: 113 KB
  • #30,799
  • Feb 16, 2024 12:49pm Feb 16, 2024 12:49pm
Quoting Cryptosurf
{quote} Its been like that for the past few months. As FXprop firms were drying up, the degens caught wind of another drug of choice
The Apex sales picked up and have been constant monthly since the MFF takedown in Aug.
  • #30,800
  • Feb 16, 2024 12:52pm Feb 16, 2024 12:52pm
Quoting CableJ
{quote} The Apex sales picked up and have been constant monthly since the MFF takedown in Aug.
Yeah that's right, wow time has flown by.
Trade with confidence, trade without fear.
72 traders viewing now