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Anyone trading with a Prop firm 31 replies

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  • #35,201
  • Apr 19, 2024 4:25pm Apr 19, 2024 4:25pm
Quoting Southeast
Seems like everyone here is after getting as many accounts and with the easiest challenges than getting one or two and making good consistent money for a living.... Which makes me wonder why one even needs "funding" if they can trade to begin with. Doesn't make sense..
because once you get a refund fee you're free to run wild - this is never possible with your personal account. Also, the psychological difference of playing with prop money vs real money is big.
I have close friends who are fantastic traders, much better than I am. Despite having 7-figure personal accounts, they still have fun yoloing props with quite a bit of success. A good technical trader can be absolutely lethal when you remove fear—as Monty clearly demonstrated here.
  • #35,202
  • Apr 19, 2024 4:34pm Apr 19, 2024 4:34pm
Quoting montygoldy
FInal Update :- 1. Received 100k alpha account rather than 5%ers. (Propfirmmatch said its too expensive lol). 2. Also in process to receive 200k free account from fundingtraders (same Propfirmmatch used free account coupon on payout). 3. Good day on myfundedfutures 3x150k starter challenges (only 150$ for 3 challenges). (Coz of scaling plan used only 3 contracts) {image}
Careful with lot size on alpha max is 40 regardless of instrument.
  • #35,203
  • Apr 19, 2024 5:18pm Apr 19, 2024 5:18pm
Quoting ElDee
Guys, what's your take on Maven prop firm? Are they reliable? Are they paying? Trust Pilot ratings can sometimes fail to present the true picture. Your opinion will be highly appreciated.
The promise that the stocks wouldn't be removed. After changing brokers, the stocks were removed. I feel deceived.
  • #35,204
  • Edited 6:15pm Apr 19, 2024 5:28pm | Edited 6:15pm
Quoting montygoldy
FInal Update :- 1. Received 100k alpha account rather than 5%ers. (Propfirmmatch said its too expensive lol). 2. Also in process to receive 200k free account from fundingtraders (same Propfirmmatch used free account coupon on payout). 3. Good day on myfundedfutures 3x150k starter challenges (only 150$ for 3 challenges). (Coz of scaling plan used only 3 contracts) {image}
What do you mean only used 3 contracts becuase of scaling plan? Is this the 10 micros= 1 mini where some firms don't calculate at 10:1?
nm....I looked it up. I only have used apex, so wasn't aware firms had this rule........so this actually means you CANNOT trade the advertised amount of contracts until you have made x amount of profit?
I don't like it.
  • #35,205
  • Edited 7:22pm Apr 19, 2024 6:55pm | Edited 7:22pm
Quoting montygoldy
{quote} In the current prop firm world nothing is permanent. Firms shutting down, banning or denying payouts are pretty frequent. So better to diverse your risk. Other part "why prop firm", i give you a scenario :- 1. Turn 400$ - 4000$ which seems possible in minimum period of TIME 1. Personal 2. Prop firm account You'll know your answer. Also the important thing is only people succeed in prop firm world who are already profitable with their personal account.
I could do that, but why would I want to?

As you said "those that pass are already profitable"...this is the obvious

Think the reality of trying to open as many accounts as possible is geared towards individuals needing a safety net from busting their accounts or break rules due to poor trading.
  • #35,206
  • Apr 19, 2024 7:09pm Apr 19, 2024 7:09pm
Quoting pipmaster77
{quote} What do you mean only used 3 contracts becuase of scaling plan? Is this the 10 micros= 1 mini where some firms don't calculate at 10:1? nm....I looked it up. I only have used apex, so wasn't aware firms had this rule........so this actually means you CANNOT trade the advertised amount of contracts until you have made x amount of profit? I don't like it.
Myfundedfutures has rule you can’t access maximum contracts right away. As profit builds more n more contracts available. This is only for starter plan. There is a crazy offer going on 50bucks on any starter challenge
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Extreme gut feeling trader
  • #35,207
  • Apr 19, 2024 7:13pm Apr 19, 2024 7:13pm
Quoting rizla101
{quote} Careful with lot size on alpha max is 40 regardless of instrument.
yep i think thats for funded account but evaluation everything acceptable. Btw now i have a different approach of passing challenges no need for nonsense risk. Current stats is i have passed last 7 challenges with ease which incluses 2 200k ftmo, 2 200k fundingtraders etc. I now know what works for me in forex as well as futures. Pretty confident to pass any challenge without ease.
Extreme gut feeling trader
  • #35,208
  • Apr 19, 2024 7:22pm Apr 19, 2024 7:22pm
Quoting LehmanBrotha
{quote} because once you get a refund fee you're free to run wild - this is never possible with your personal account. Also, the psychological difference of playing with prop money vs real money is big. I have close friends who are fantastic traders, much better than I am. Despite having 7-figure personal accounts, they still have fun yoloing props with quite a bit of success. A good technical trader can be absolutely lethal when you remove fear—as Monty clearly demonstrated here.
That's all well and good I guess if you are to blow one of these accounts on say one release. The numbers can even be just a slightly off dud and you'd still end up breaking a rule then forfeiting the account over something stupid.

Why waste the time and mental resources. Hopefully you're with one that can use a trade copier if that's even possible.

Yeah, if you totally don't give a shitt about the effort you put in to pass one of these and don't mind blowing it more power. That definitely would change if a person built it up a bit.

I have a dormant FTMO account that I passed both challenge and verif in two weeks, before the whole US ruling. I didn't pass because I "yolo'd" it...I passed because I wanted to and wanted to see what the whole "prop-firm" - which they really can't be called that if you're familiar with the industry - was about, not because I wanted to swing for the fences with wreckless abandon.

People that are into these companies and their products aren't trading as their main source of income. There's nuances about this type of trading that just conflict with the whole "propfirm" scene.

The only point in utilizing them is if by some unfortunate reason someone is actually able to trade and needs cash. Get whatever seed capital you need, once that happens GTFO and get a real account.

I can see where the same type of people in that rut have to relegate to these operations and put themselves through the kinda ridiculous process over and over again. The vicious cycle never ends with them.
  • #35,209
  • Apr 20, 2024 12:49am Apr 20, 2024 12:49am
Quoting longcanlun12
{quote} What do you mean by that? still more affordable than FTMO. Maybe it is more expensive than 5er or other Twitter prob firms, but right now reputation is more important than pricing, and if they do well with that, then the pricing is not a problem. I think right now in this industry, where dramas happen almost every day (refusing payout, scammers,..), we need some game changers who know what they do in the legal field, have the needed experiences of running a business, and deliver a sustainable service to traders. IC may become this guy, but...
Wait, am I looking at the right thing here? It says 3000 for a 100k evaluation account with 10/5 targets.
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  • #35,210
  • Apr 20, 2024 12:51am Apr 20, 2024 12:51am
Quoting procrude
Any one scalping NQ Emini futures? This thing is Crazy. One contract can make you $500 or make you lose $500 with in seconds... with in the same 1 min candle. Moves too fast. I would compare this to GBPJPY of forex. What is the best for scalping between S&P, Dow, Crude Oil, Gold and NQ Futures in your opinion? Thanks
I screwed up in the Asian session yesterday. Normally 1 mini is fine but it was so volatile due to the Israel missile news. Should have gone with micros.
  • #35,211
  • Apr 20, 2024 1:15am Apr 20, 2024 1:15am
Quoting maltrader
{quote} Wait, am I looking at the right thing here? It says 3000 for a 100k evaluation account with 10/5 targets. {image}
Outrageous
A snails pace wins the race :-)
  • #35,212
  • Apr 20, 2024 1:35am Apr 20, 2024 1:35am
Good news guys and girls, the biopsy came back benign so off to surgery I go to cut the bastard out.

Thanks to everyone for the well wishes. I still won't be here much in the future.

I hope FPFX and Match trader burn to the depths of hell.
  • #35,213
  • Apr 20, 2024 1:47am Apr 20, 2024 1:47am
Quoting Takisd
Good news guys and girls, the biopsy came back benign so off to surgery I go to cut the bastard out. Thanks to everyone for the well wishes. I still won't be here much in the future. I hope FPFX and Match trader burn to the depths of hell.
Good to hear Tak!
Pride always comes before destruction.... -Proverbs 16:18
  • #35,214
  • Apr 20, 2024 1:50am Apr 20, 2024 1:50am
Quoting maltrader
{quote} I screwed up in the Asian session yesterday. Normally 1 mini is fine but it was so volatile due to the Israel missile news. Should have gone with micros.
whatever the session always put stop losses… i made huge on the pullback yesterday… 300 points.. while it was first dropping i was capturing the gold longs that saved me otherwise it would have been a bloodbath for me coz i am a BUYER
Extreme gut feeling trader
  • #35,215
  • Apr 20, 2024 2:19am Apr 20, 2024 2:19am
Quoting maltrader
{quote} Wait, am I looking at the right thing here? It says 3000 for a 100k evaluation account with 10/5 targets. {image}
Must be a mistake on this particular site, these are the prices I currently can see:
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  • #35,216
  • Apr 20, 2024 2:24am Apr 20, 2024 2:24am
Can you post the link for IC site?
I can not get it
Intraday only.
  • #35,217
  • Apr 20, 2024 2:32am Apr 20, 2024 2:32am
Must’ve been a cache issue or something, this is what is showing on mine which seems a bit more realistic.
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  • #35,218
  • Apr 20, 2024 2:37am Apr 20, 2024 2:37am
Quoting navk
Can you post the link for IC site? I can not get it
https://www.icfunded.com/challenge/
  • #35,219
  • Apr 20, 2024 3:20am Apr 20, 2024 3:20am
Quoting Alesamo
{quote} https://www.icfunded.com/challenge/
oh wow, I just know, any other big broker opening their own props?
In the end its just a stupid numbers game
  • #35,220
  • Apr 20, 2024 4:44am Apr 20, 2024 4:44am
Quoting Southeast
{quote} Why waste the time and mental resources. Hopefully you're with one that can use a trade copier if that's even possible.
Because of extra money for very little effort. I took 3 trades this last week with an average duration of 7 hours.

The argument of "you all must be so rich so why you care about prop" doesn't float. I'm literally a better trader with prop money because I care less, and so is everyone I know. It becomes a game of picking quality firms and diversifying but hey thats why we are here. Beyond the social aspect, information from this topic is quite valuable - valuable enough to be repacked and sold.


Quoting Alesamo
{quote} Must be a mistake on this particular site, these are the prices I currently can see: {image}
They have bugs on mobile site. So, people on mobile see different things than people on desktop I'd guess.
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