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  • #37,921
  • Jun 17, 2024 9:26am Jun 17, 2024 9:26am
Quoting Boulder
{quote} Yayy, first time reached profit targets in Topstep. Love topstepx trading platform. Do I wait for the end of the day for funded accounts?
yep
Extreme gut feeling trader
  • #37,922
  • Jun 17, 2024 2:21pm Jun 17, 2024 2:21pm
Quoting ranilo.vince
{quote} What would you do guys if this happened to you? Will you just let it go?
YES
A snails pace wins the race :-)
  • #37,923
  • Jun 17, 2024 3:47pm Jun 17, 2024 3:47pm
Quoting ranilo.vince
{quote} I can do that but I won't!!! This is too much. I only have set my SL to lose $700 on one trade in US30. I forgot to close the trade before CPI. Price spiked so, slippage and volatility strikes me big time. So, I lost $2,900+ due to this event. So, I already paid the price for not being able to close the trade because I was driving. I never trade news because I only enter a trade after 30 minutes of news. But this open sell trade I have was opened on Asian session on the CPI day. Now, they are saying that my loss was $5,000+ and I hit the...
Same scenario I had with them. Same slippage. Mine was not even CPI, I calculated my SL to be around $3k risk, only for me to see email. I forgot there was a news and I was on gold. They slipped me more than $2k. I will never enter any trade close to news again, they are using their algorithms to manipulate during the news. Nothing anybody will tell me otherwise I will believe.
Anyway, you can move on and take note.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #37,924
  • Jun 17, 2024 4:47pm Jun 17, 2024 4:47pm
Quoting Expo33
{quote} No they didn't give any solution. Yeah I was reading somewhere that I would have to run my account up to 59K before requesting again since I was at 54.5K. With the rebill date being tomorrow definitely not worth it

How much was the rebill amount for a $50K? around $37 ? I think ti was worth it... anyway too late i guess....
Drawdown is more important than Account Size !
  • #37,925
  • Jun 17, 2024 7:00pm Jun 17, 2024 7:00pm
Quoting Quickly
{quote} I have no experience of them at all, but have always had a second-hand high opinion of them in the past, mostly because they seem like decent people, and until recently I’d never seen/read anything bad about them online, at all (which must say something?). So if people were absolutely determined to trade CFDs, and wanted a forex funding company, and didn’t mind that the “funded account”, when you get one, isn’t actually funded at all and there’s no broker involved, I used to “recommend” 5%ers as “what seemed like the safest option,” as far...

then Lux is a better option for a funded account
  • #37,926
  • Jun 17, 2024 7:51pm Jun 17, 2024 7:51pm
Quoting procrude
{quote} How much was the rebill amount for a $50K? around $37 ? I think ti was worth it... anyway too late i guess....
$105

My account was down to 53200 so I was already in drawdown of 1300 from the peak of 54500 and needing to get to 59K
Pride always comes before destruction.... -Proverbs 16:18
  • #37,927
  • Jun 17, 2024 8:46pm Jun 17, 2024 8:46pm
Quoting Expo33
{quote} $105 My account was down to 53200 so I was already in drawdown of 1300 from the peak of 54500 and needing to get to 59K
Isn't the drawdown supposed to be 53200 - 50100 = 3100$ ???????
Extreme gut feeling trader
  • #37,928
  • Jun 17, 2024 8:56pm Jun 17, 2024 8:56pm
Quoting montygoldy
{quote} Isn't the drawdown supposed to be 53200 - 50100 = 3100$ ???????
Yeah I guess it is but I'd still need to make 5800 to get to another payout request. Not worth trying to grind that out over a couple of months paying 105 over and over with no guarantee of getting there and then waiting two weeks again for possible approval/denial.

APEX is dead to me now. I'll wait for the next promo with Topstep, keep doing the Darwinex thing, and probably start trading my own money with one of the shitty US brokers.
Pride always comes before destruction.... -Proverbs 16:18
  • #37,929
  • Edited 9:12pm Jun 17, 2024 9:01pm | Edited 9:12pm
Quoting Expo33
{quote} Yeah I guess it is but I'd still need to make 5800 to get to another payout request. Not worth trying to grind that out over a couple of months paying 105 over and over with no guarantee of getting there and then waiting two weeks again for possible approval/denial. APEX is dead to me now. I'll wait for the next promo with Topstep, keep doing the Darwinex thing, and probably start trading my own money with one of the shitty US brokers.
Have you confirmed with helpdesk that you need to make 59k to apply for next pay out or just trade normally for next 10 days without breaking a rule?
In my personal opinion apex is still good and you have already conquered the trailing drawdown......only drawback is you took monthly instead of lifetime.... I always took lifetime even blown account in 1 week...
Extreme gut feeling trader
  • #37,930
  • Edited 9:25pm Jun 17, 2024 9:15pm | Edited 9:25pm
Quoting montygoldy
{quote} Have you confirmed with helpdesk that you need to make 59k to apply for next pay out or just trade normally for next 10 days without breaking a rule? In my personal opinion apex is still good and you have already conquered the trailing drawdown......only drawback is you took monthly instead of lifetime.... I always look lifetime even i blown account in 1 week...
I read somewhere that I needed to earn another 4500 to get to 59K.

Account has already been cancelled anyways. No hard feelings with APEX. Two weeks to make a payout decision with "discretionary" rules isn't my cup of tea. If that changes I might throw some $20 bills at them when the next 90% off comes but for now they're on the shelf for me.

My favorite rule is you can't move your SL backwards because you might lose more money but you can have NO stop as long as you have a "mental" stop. You know, because no traders will EVER move their "mental" stop. Come on man (Biden accent included)
Pride always comes before destruction.... -Proverbs 16:18
  • #37,931
  • Jun 17, 2024 9:22pm Jun 17, 2024 9:22pm
Quoting Expo33
{quote} I read somewhere that I needed to earn another 4500 to get to 59K. Account has already been cancelled anyways. No hard feelings with APEX. Two weeks to make a payout decision with "discretionary" rules isn't my cup of tea. If that changes I might throw some $20 bills at them when the next 90% off comes but for now they're on the shelf for me.
Its alright...i said before the accounts with rule violations took longer review(some of the youtube streamers had the same issue).... the ones without in a day or so....Plus i check their discord everyday its not you have to make the same amount again thats what i understood... you just need to make the next payout amount without breaking a rule... Maybe i am wrong...
Also i am using mental stops lol.... confirmed with the apex heldesk they have no issues with it... they said risk n reeward should be in check 1:3 but remember once in a while is alright but if its happening oftenly on trades thats a violation as well..
Extreme gut feeling trader
  • #37,932
  • Edited 11:12pm Jun 17, 2024 9:34pm | Edited 11:12pm
Quoting montygoldy
{quote} Its alright...i said before the accounts with rule violations took longer review(some of the youtube streamers had the same issue).... the ones without in a day or so....Plus i check their discord everyday its not you have to make the same amount again thats what i understood... you just need to make the next payout amount without breaking a rule... Maybe i am wrong...
I can't find where I read that or if it was in a video.

It sounded like you had to prove that you can make 4500 without breaking any rules to be able keep the initial 4500 in your account. Otherwise I could just trade 2 or 3 ES micros for 2 weeks just treading water and maybe even lose 1000 of the 4500 profit and still get a payout? Not likely.

Anyways if I find that info I'll post it. In the meantime it's a moot point.

Like I said in my last post, you can't move your SL backwards but you can have NO SL as long as you have some magical, mystical "mental" stop. Ridiculous.
Pride always comes before destruction.... -Proverbs 16:18
  • #37,933
  • Jun 17, 2024 11:24pm Jun 17, 2024 11:24pm
Quoting Expo33
{quote} I can't find where I read that or if it was in a video. It sounded like you had to prove that you can make 4500 without breaking any rules to be able keep the initial 4500 in your account. Otherwise I could just trade 2 or 3 ES micros for 2 weeks just treading water and maybe even lose 1000 of the 4500 profit and still get a payout? Not likely. Anyways if I find that info I'll post it. In the meantime it's a moot point. Like I said in my last post, you can't move your SL backwards but you can have NO SL as long as you have some magical,...
In addition you can't trade the news.

Can't ride the wave of momentum after an event. What event? Is there a list? Can I wait and then trade a retracement at one of my levels after the news? How many minutes after the news? etc etc..........Maybe I should wear a straight jacket while I trade and leave an opening in the back so APEX can sodomize me "at their discretion"

Ok I'm done.

I guess I've come full circle. Started with Forex.com(Gain Capital) back in 2007. After a few years they did some shady shit and got fined or something. I got bored with them and wanted to try a new broker. Oanda seemed cool. Their website was green. I like green so I used them for the next 10 years. Decent at first but their website/support ended up being horrific. FXCM was on the radar for a minute until they got banned for being scumbags or something.

Used Fxchoice and Tradersway for 10 years and never had a problem. TD Ameritrade (now Schwab) has also been problem free for some of my other ventures.

Anyways, I guess I'll go back to my roots and try Forex.com again. Think they rebranded or something.
Pride always comes before destruction.... -Proverbs 16:18
  • #37,934
  • Jun 18, 2024 12:28am Jun 18, 2024 12:28am
Personally, I don't really pay much for prop firm again. Every day, the competition is getting tougher. New promising ones getting on board monthly.
Most times what I do is that I go to discord or twitter, see if i can win one free account or the other (I have won 2 already and in the process of winning the 3rd one). I started my prop journey this year, though. Just trade the account carefully, pass the challenges, get funded, and get payout, if I loose, I have less to worry about, if I win, I expand my portfolio and scale up.
Also, currently axe trader from UK, are running absolutely free giveaways. If interested, you can check out on discord server here , instructions are there. Note , i am not affiliated to them but they look promising and anyone that needs free account can do try it.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #37,935
  • Jun 18, 2024 12:51am Jun 18, 2024 12:51am
To me, personally, prop trading was a fantastic opportunity to speed up the funding of my personal accounts, in just a couple of years, much beyond what I would be able to achieve working and trading just personal account.

The only thing I regret is not having been more aggressive in the beginning buying more expensive challenges and having spent too much time in shitty props models like Bluefx (monthly subscription) or TopStep (trailing), when there were much better options around at the time. Finding this thread was a turning point.

I think most props, specially the CFD ones, are insolvent, struggling to survive, and several of the known ones will inevitably close, causing more and more disappointment for the prop industry. This vicious cycle already started some time ago and I don't see how it can be turned, no matter what props change. Participants became too professional gaming the system and, just like it would happen to a casino offering positive expectation, props will die. To avoid that they will keep changing things until the point they won't be interesting any more.

In the meantime we should focus in extracting 2K here, 4K there until the end and be prepared to lose an account here and there when they close doors. The golden years of props are already past.
  • #37,936
  • Jun 18, 2024 12:55am Jun 18, 2024 12:55am
Btw, not all is bad and sometimes we are surprised. I got paid by Blue Guardian in just a couple of hours. It was the fastest payout I had with them (usually it was 24 to 48 business hours). Only 4 figures and through Rise but, anyway, a nice surprise.
  • #37,937
  • Jun 18, 2024 1:15am Jun 18, 2024 1:15am
Just like Monty, this guy also had troubles with FundingTraders
https://x.com/ImTraderFX/status/1802927443528786060
  • #37,938
  • Jun 18, 2024 1:40am Jun 18, 2024 1:40am
Quoting Capablanca
Just like Monty, this guy also had troubles with FundingTraders https://x.com/ImTraderFX/status/1802927443528786060
Exactly they have a bunch of blind risk team their only job is to create a combination in order to violate the 2% rule... This thing is 100% for sure for 200k accounts ...
Extreme gut feeling trader
  • #37,939
  • Jun 18, 2024 4:43am Jun 18, 2024 4:43am
There are rumors that payment processor froze funds of funded engineer. They were already half dead, anyway.
  • #37,940
  • Jun 18, 2024 5:00am Jun 18, 2024 5:00am
Quoting Capablanca
This vicious cycle already started some time ago and I don't see how it can be turned, no matter what props change. Participants became too professional gaming the system and, just like it would happen to a casino offering positive expectation, props will die.
-I think, having profit caps with minimum trading days and x% consistency rule is a must. It can work out well for firms since the statistics lean heavily in their favor. Unfortunately, and this is the big problem, cheaters ruin the game for everyone, forcing firms to employ more and more measures in an effort to suffocate them out.

This inevitably results in having fewer and fewer participants as you eventually limit yourself to having only traders that are better-than-average, that are willing and able to work within all of the rules that have been added as a result of the infestation of cheaters. Insolvency is inevitable at that point, since these firms have not discovered other ways to generate sufficient revenue that can sustain the business.

If firms like Apex can manage to weed out enough of the cheaters without pushing out the bulk of their honest traders, then they may have a chance to remain operational until regulators step in. They would have a better chance if they implemented profit caps, though.

Cheaters are a stain on the industry because they can heavily skew long-standing statistics that these models rely on in order to work properly.
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