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Anyone trading with a Prop firm 31 replies

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  • #34,301
  • Apr 7, 2024 1:08pm Apr 7, 2024 1:08pm
Quoting Tobiazzek
{quote} Hopefully the funded firms made by broker companies like ICFunded will be smarter with managing everything. Out of everything you said 5ers check the most boxes rn.
If you look deeper into them they are just money grabs. Hantec and Oanda are using FPFX for petes sake.
  • #34,302
  • Apr 7, 2024 1:12pm Apr 7, 2024 1:12pm
Quoting Takisd
{quote} If you look deeper into them they are just money grabs. Hantec and Oanda are using FPFX for petes sake.
meaning you can expect a lot of manupulation…
  • #34,303
  • Apr 7, 2024 1:31pm Apr 7, 2024 1:31pm
Quoting Stoneyrocks
{quote} meaning you can expect a lot of manupulation…
You can expect their breach mechanism not to work at the very least because FPFX is a scam facilitation mechanism run by clowns.
  • #34,304
  • Apr 7, 2024 1:39pm Apr 7, 2024 1:39pm
Well then those are off the list. I still hope ICFunded will stay for longer but who knows.
  • #34,305
  • Apr 7, 2024 2:14pm Apr 7, 2024 2:14pm
Quoting Takisd
{quote} You can expect their breach mechanism not to work at the very least because FPFX is a scam facilitation mechanism run by clowns.
which other famous props have this FPFX stuff running ?
  • #34,306
  • Apr 7, 2024 2:30pm Apr 7, 2024 2:30pm
Quoting Stoneyrocks
{quote} which other famous props have this FPFX stuff running ?
Blueguardian.
Myfundedfx
Swiftfunding

TFT was SFT was etc etc. The list is long but the big ones either leave or died. Surge was using but took the FE drama as a way to get out and got out.
  • #34,307
  • Edited 2:54pm Apr 7, 2024 2:40pm | Edited 2:54pm
MFF were with FPFX too, but they'll no doubt get a pass on that.

Quoting Takisd
{quote} Surge was using but took the FE drama as a way to get out and got out.
The break would give her and her husband more time to defraud more Church members.
  • #34,308
  • Apr 7, 2024 2:58pm Apr 7, 2024 2:58pm
Quoting PropDude1234
MFF were with FPFX too, but they'll no doubt get a pass on that. {quote}The break would give her and her husband more time to defraud more Church members.
they were but they were leaving. Before they were shut down all new customers were going to new dashboard. For a month ish. There is speculation that thats where the case came from.
  • #34,309
  • Apr 7, 2024 3:01pm Apr 7, 2024 3:01pm
Quoting Takisd
{quote} There is speculation that thats where the case came from.
That sounds pretty stupid speculation to me.

A business that makes most of its money from US customers (and all its money from prop) willingly brings scrutiny from one of the most powerful regulators to a company it's inextricably linked with.
  • #34,310
  • Apr 7, 2024 3:40pm Apr 7, 2024 3:40pm
Quoting pipmaster77
{quote} Actually, AMP I still use MT5. I use quantower with my apex accounts. However, I am going to covert amp over as then I get the licensed version for free. https://support.atf.com/hc/en-us/art...our-Service-On Scroll down to quantower, it is a live link. Use your rithmic login credentials.
Thanks!
  • #34,311
  • Apr 7, 2024 3:43pm Apr 7, 2024 3:43pm
Quoting PropDude1234
{quote}That sounds pretty stupid speculation to me. A business that makes most of its money from US customers (and all its money from prop) willingly brings scrutiny from one of the most powerful regulators to a company it's inextricably linked with.
The people in FPFX are pretty stupid. Anyone who has dealt with them know this and the level of greed and deception is very high inside that rat company.
  • #34,312
  • Apr 7, 2024 4:37pm Apr 7, 2024 4:37pm
I am removing the5ers from my list. I was going to start with them but as I was preparing I read deeper into the rules. The profit day rule and the max loss rule make the program sustainable for the company but stupid for the trader. Although the end result is achievable, I have no interest in doing 50 trades to pass their first phase and then being equally as limited in phase 2 and on the live account.

I respect the idea that it is a sustainable model, but it doesn't fit my purpose. At least not as a starting account for what I plan to do. I might come back to it later but taking a single trade each day is not going to be worth it if my max risk can be 1%.
  • #34,313
  • Apr 7, 2024 4:52pm Apr 7, 2024 4:52pm
Quoting Takisd
{quote} The people in FPFX are pretty stupid. Anyone who has dealt with them know this and the level of greed and deception is very high inside that rat company.
If the CFTC were so willing and MFF so vulnerable to one complaint, then it was probably a matter of time regardless of who instigated it.

Be interesting to see what happens to TFT / Angelo and the crew with all the complaints going in about them.
  • #34,314
  • Apr 7, 2024 5:15pm Apr 7, 2024 5:15pm
Quoting Takisd
I am removing the5ers from my list. I was going to start with them but as I was preparing I read deeper into the rules. The profit day rule and the max loss rule make the program sustainable for the company but stupid for the trader. Although the end result is achievable, I have no interest in doing 50 trades to pass their first phase and then being equally as limited in phase 2 and on the live account. I respect the idea that it is a sustainable model, but it doesn't fit my purpose. At least not as a starting account for what I plan to do. I might...
I just went over the T&C of the high stakes program , I dont see any mentioning of doing 50 trades for each phase ?
  • #34,315
  • Apr 7, 2024 6:04pm Apr 7, 2024 6:04pm
Quoting UST
{quote} everyone's always banging on about how high leverage equals high risk in trading. But honestly, I think people just simply dont understand the usage of it. Here's the thing: if you're a smart trader who sticks to, let's say, risking just 1% of your trading capital on each trade, whether you're using 1:30 leverage or 1:100 leverage, the risk is the same, right? It is still 1% doesnt matter the leverage. And when you've got a decently funded account or you're in some trading challenge with a healthy balance, the whole leverage debate seems...
Agree in ideal world it makes sense. But million dollar question is do we live in ideal world? Well with this logic one doesn't even need prop firm. The logic of having prop firm is to earn money as fast as possible before it gets busted. 1% risk in prop firm account is 10%. High leverage is Needed if you are scalping Risk is based on stop loss distance not leverage.
  • #34,316
  • Edited 7:19pm Apr 7, 2024 7:04pm | Edited 7:19pm
Quoting Stoneyrocks
{quote} I just went over the T&C of the high stakes program , I dont see any mentioning of doing 50 trades for each phase ?
I think only the boot camp requires stop loss.

Just passed the high stakes program. Just needed to make sure I had 3 days of 0.5% profit on the initial account balance and hit the overall target. Passed in 3 days and got the funded account.
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  • #34,317
  • Apr 7, 2024 7:14pm Apr 7, 2024 7:14pm
Quoting montygoldy
{quote} preprared a new goal for futures for this quarter to get max funding on apex (10 already done). Then move to next batch myfundedfutes, topstep and elitetraders/bulenox max funding. People share experiences of other futures firms helps other with decision making.
Congrats! I've been researching further on Apex and it seems you really need to close your trade the same day? So, if you're a swing trader, it won't work?
Or am I missing something?
We're not here to be right, we're here to Profit Consistently!
  • #34,318
  • Apr 7, 2024 7:21pm Apr 7, 2024 7:21pm
Quoting 21vs7
{quote} prop model revised: max days, why limit the challenge etc?!? other than operative reasons and to try to force traders to trade it out agressively, this rule is stupid. I entered prop just because they canceled this rule...slow plays, lower risk, this is the whole agenda later on you say about new model...so keep the unlimited time. Minimum days, i dont know..beats me...
//-----

hey 21..... you are absolutely correct, at least in my mind..... 100%......

to pass step 1 with topstepfx in 2019/20 we had to double our accounts in 30 days...... that was not easy, for me at least..... still have my trade explorers..... 100%.....

there is no shame in trading responsibly and taking your time...... personally i'm comfortable at 10% per month, so it takes me roughly 20 days to pass the average 100k challenge...... myfundedfx having that unlimited time helped......

losing mq4 in prop firms was unfortunate....

apex futures seems the most solid deal going..... even though it might be more expensive than typical fx props...... my all in cost on 20 accounts was under 4000, which includes the lifetime fee.... took 10 days to pass..... see no need for speed......

and if someone feels my trading slow and responsible puts me in the category of traders shouldn't be funded on real money, so be it......

......h
to trade and code, keep both simple... no call to impress....h
  • #34,319
  • Apr 7, 2024 7:37pm Apr 7, 2024 7:37pm
Quoting ranilo.vince
{quote} Congrats! I've been researching further on Apex and it seems you really need to close your trade the same day? So, if you're a swing trader, it won't work? Or am I missing something?
Yes, all trades and orders must be closed by EOD.
  • #34,320
  • Edited 8:40pm Apr 7, 2024 8:02pm | Edited 8:40pm
Day 2 done in asian session. My target for funded accounts is aim to 400$ a day for 10 days. Aiming to pull 2k per account and leave 2k drawdown. after first payout will reduce to to aim 100-150$ a day. Also after looking patrick weiland (youtuber) account list thinking to going for 150k x 10 account. No more challenges for now first secure the payout then reinvest
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Extreme gut feeling trader
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