Prop Firm Hub | Page 1604 | 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

  • #32,061
  • Feb 28, 2024 7:14am Feb 28, 2024 7:14am
Quoting Boulder
{quote} I decided to buy another $150k for one day pass.. I made it in 12 hours.. Glad I joined futures trading business these days. Now I need to learn how to trade PA due to consistency rules. To make a minimum account withdraw, I need make $5100 for $150k account, I can't make more than 30%, which $1530 a day, I need trade mini 4 days, since 3 days only $4590, I hope Apex has some flexibility in that consistency rule. a lot of times, we make $3000 one day and lose $3000 another day. I don't like that $ 3000-day profit will raise the profit level...
The 30% consistency rule is not necessarily an account violation.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2024-02-15_at_5.png Size: 109 KB
Trade with confidence, trade without fear.
  • #32,062
  • Feb 28, 2024 8:15am Feb 28, 2024 8:15am
Quoting Boulder
{quote} I decided to buy another $150k for one day pass.. I made it in 12 hours.. Glad I joined futures trading business these days. Now I need to learn how to trade PA due to consistency rules. To make a minimum account withdraw, I need make $5100 for $150k account, I can't make more than 30%, which $1530 a day, I need trade mini 4 days, since 3 days only $4590, I hope Apex has some flexibility in that consistency rule. a lot of times, we make $3000 one day and lose $3000 another day. I don't like that $ 3000-day profit will raise the profit level...
Hi Boulder,
Thant consistency rule is the very reason I liked having a private investor @ one point in my trading journey. Her simple rule was make money & don't lose her 50K. Even I could understand that rule.
  • #32,063
  • Feb 28, 2024 8:15am Feb 28, 2024 8:15am
TFT discord is blowing up right now. Seems like they promised to give new platform credentials to everyone by 9 am EST and nothing came up. Beginning of the end?
  • #32,064
  • Feb 28, 2024 8:17am Feb 28, 2024 8:17am
Quoting acetrader
{quote} Hi Boulder, Thant consistency rule is the very reason I liked having a private investor @ one point in my trading journey. Her simple rule was make money & don't lose her 50K. Even I could understand that rule.
That's about as simple as it gets. Then again, she wasn't benefiting from your failure.
  • #32,065
  • Feb 28, 2024 8:22am Feb 28, 2024 8:22am
Quoting pipmaster77
{quote} That's about as simple as it gets. Then again, she wasn't benefiting from your failure.
So true. She was very good to work with. She was a retired stockbroker family friend.
  • #32,066
  • Feb 28, 2024 9:44am Feb 28, 2024 9:44am
Quoting ArtStep
{quote} my own EA works fine with Axi Select and I even checked wuith the support team who told me EA's as long as they do not directly copy trades are permitted. From their legal doc: "every trade that is made by you in the Axi Select account is made solely by you using your independent endeavours and as such you will not copy the trades of any another trader" {image}
well, that's good news!
thanks for the clarification...
chat guys not to be believed, I guess...
  • #32,067
  • Feb 28, 2024 9:53am Feb 28, 2024 9:53am
Quoting deificxd
TFT discord is blowing up right now. Seems like they promised to give new platform credentials to everyone by 9 am EST and nothing came up. Beginning of the end?
The Funded Trainwreck
A snails pace wins the race :-)
  • #32,068
  • Feb 28, 2024 10:08am Feb 28, 2024 10:08am
Dumb question, but I'm assuming futures trading is not exempt from CFTC trading rules, correct? I'm so used to trading forex and just riding the waves of US30 up-down-up-down all day long, guess I'll have to adjust that strategy if I attempt futures, right?
  • #32,069
  • Feb 28, 2024 10:16am Feb 28, 2024 10:16am
Quoting TheDoug
Dumb question, but I'm assuming futures trading is not exempt from CFTC trading rules, correct? I'm so used to trading forex and just riding the waves of US30 up-down-up-down all day long, guess I'll have to adjust that strategy if I attempt futures, right?
Futures only have the advantage that they use exchange prices so the regulator is less likely to take an action. They should however get a no action letter as well or required registrations but they have slightly less risk than eval firms.
  • #32,070
  • Feb 28, 2024 10:28am Feb 28, 2024 10:28am
Quoting TheDoug
Dumb question, but I'm assuming futures trading is not exempt from CFTC trading rules, correct? I'm so used to trading forex and just riding the waves of US30 up-down-up-down all day long, guess I'll have to adjust that strategy if I attempt futures, right?
which rules are you referring to? and are you speaking of the futures props or just futures in general?
  • #32,071
  • Feb 28, 2024 10:36am Feb 28, 2024 10:36am
I'm mainly thinking of futures props, and since it's been years since I attempted to trade via a USA broker - isnt' there a rule saying you can't place a buy after a sell, or a sell after a buy of the same instrument? (I'm sure there's an official term for that - no hedging, maybe).
  • #32,072
  • Feb 28, 2024 10:49am Feb 28, 2024 10:49am
Quoting TheDoug
I'm mainly thinking of futures props, and since it's been years since I attempted to trade via a USA broker - isnt' there a rule saying you can't place a buy after a sell, or a sell after a buy of the same instrument? (I'm sure there's an official term for that - no hedging, maybe).
Yes, the positions will net. When you average up/down, same thing, you'll get a new avg price as opposed to additional positions....same thing when scaling out.
They call it FIFO....first in, first out, so if you add a second position, you must close the first one prior to closing the second....netting does it automatically.
The solution is multiple accounts. For example, I have multiple accounts at apex, I enetered dow today at one price and took a second trade on a different account at a lower price. I was able to close that second position separately and before the first. The first also went to profit, but I was able to book higher profit with the second position. However, if you are doing props, DO NOT buy/sell at the same time, obviously that'll get you banned.
  • #32,073
  • Feb 28, 2024 11:38am Feb 28, 2024 11:38am
Not very high values, knowing that they started around May. montygoldy is going to smash it.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 145 KB


More seriously, I have not been hearing any strange stories from them, apart from the backoffice disorganization when it's payout time.
  • #32,074
  • Feb 28, 2024 11:43am Feb 28, 2024 11:43am
Quoting pipmaster77
{quote} Yes, the positions will net. When you average up/down, same thing, you'll get a new avg price as opposed to additional positions....same thing when scaling out. They call it FIFO....first in, first out, so if you add a second position, you must close the first one prior to closing the second....netting does it automatically. The solution is multiple accounts. For example, I have multiple accounts at apex, I enetered dow today at one price and took a second trade on a different account at a lower price. I was able to close that second position...
I'm 100% a trend trader, even on the M1 I take trends, so I'm only concerned with if I buy into an uptrend, then the price goes into a downtrend and I take a sell, so buy then sell of the same instrument one after the other, the sell trade wouldn't be allowed. That's what I hated last time I tried Oanda all those years ago
  • #32,075
  • Feb 28, 2024 11:52am Feb 28, 2024 11:52am
Quoting TheDoug
{quote} I'm 100% a trend trader, even on the M1 I take trends, so I'm only concerned with if I buy into an uptrend, then the price goes into a downtrend and I take a sell, so buy then sell of the same instrument one after the other, the sell trade wouldn't be allowed. That's what I hated last time I tried Oanda all those years ago
So are closing the buy and then taking the sell? There is nothing wrong with that. If you sell while the buy is open, it will net to zero, unless of course the position size is different.
  • #32,076
  • Feb 28, 2024 11:56am Feb 28, 2024 11:56am
The swing traders may have a more difficult life to trade futures props because of the mandatory positions closing at EOD.

For indexes, for example, I guess the best option is to close at 4:59 PM ET and reopen an hour later when the market restarts. Obviously this involves commissions, slippage and negative or positive gaps and worse on weekends (in forex we also have the swaps so keeping position is not free).
  • #32,077
  • Feb 28, 2024 12:29pm Feb 28, 2024 12:29pm
I am looking at Apex, how the 30% rule applies to carry over balance?
  • #32,078
  • Feb 28, 2024 12:30pm Feb 28, 2024 12:30pm
Quoting Capablanca
Not very high values, knowing that they started around May. montygoldy is going to smash it. {image} More seriously, I have not been hearing any strange stories from them, apart from the backoffice disorganization when it's payout time.
need to pass their challenge first... Its a expensive challenge so going really slow. Plus i have high hopes with acg, fxify and ftmo. Probably want to squeeze as many dollars out of them as possible... Not just one shot big payout
Extreme gut feeling trader
  • #32,079
  • Feb 28, 2024 12:45pm Feb 28, 2024 12:45pm
Quoting Capablanca
The swing traders may have a more difficult life to trade futures props because of the mandatory positions closing at EOD. For indexes, for example, I guess the best option is to close at 4:59 PM ET and reopen an hour later when the market restarts. Obviously this involves commissions, slippage and negative or positive gaps and worse on weekends (in forex we also have the swaps so keeping position is not free).
I'm actually starting to prefer it. Entering/exiting different accounts at different prices. We actually talked about this a time or two on the forex props.....swing trading and buidling a position with multiple entries at different firms.
I can trade small enough to control the DD, yet build an overall larger position accross multiple accounts.
  • #32,080
  • Feb 28, 2024 12:51pm Feb 28, 2024 12:51pm
Quoting pipmaster77
{quote} So are closing the buy and then taking the sell? There is nothing wrong with that. If you sell while the buy is open, it will net to zero, unless of course the position size is different.
Yes, the buy would be closed, then the sell opened whenever. and taking a sell while the buy is open is how I learned you can close 50% profit if you want, correct? i.e. if you take 2 contracts buy, then take 1 contract sell whenever, it will effectively close half your original trade. haven't learned about trailing stops yet. that's next.
82 traders viewing now