Prop Firm Hub | Page 1957 | 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

  • #39,121
  • Edited 11:57pm Jul 12, 2024 10:20pm | Edited 11:57pm
Quoting Frag8383
{quote} Thanks for the advice to all that replied my post Kind regards
The average target profit for all proprietary firms or brokers is 10% (with no maximum trading day limit), which is already too high. Achieving even 7% a month is very difficult. Getting a 10% return over a long period is acceptable. Warren Buffett only has a CAGR of 10% per year (latest data). It's not easy to hope to become Jim Simons with a CAGR of 66% per year.

Then, the maximum drawdown limit (whether floating or realized) is 10%, and this is actually easy to achieve if there is an add-on or machine that manages risk, but they add additional costs. A 7% drawdown is already dangerous, but proprietary firms or brokers can just set a general rule that they only tolerate a 10% capital loss risk for each account. A 10k account is actually not worth anything, because targeting 10% means having to work very hard. It's okay if it's just to test yourself to get a direct picture of the trading environment in a proprietary firm or broker, while accounts above 10k are just expensive for most people, not for people from developed countries.

There aren't many brokers or firms that can create a scoring scale system like Darwinex or Axi, which means they don't fully understand their own risk models and targets. As a result, they just follow the common industry trends.
Attached Image (click to enlarge)
Click to Enlarge Name: CejhG_gWAAAHSof.jpg Size: 116 KB
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #39,122
  • Jul 13, 2024 12:13am Jul 13, 2024 12:13am
Quoting roelsmajor
{quote} the average target profit for all proprietary firms or brokers is 10% (with no maximum trading day limit), which is already too high. Achieving even 7% a month is very difficult. Getting a 10% return over a long period is acceptable. Warren buffett only has a cagr of 10% per year (latest data). It's not easy to hope to become jim simons with a cagr of 66% per year. Then, the maximum drawdown limit (whether floating or realized) is 10%, and this is actually easy to achieve if there is an add-on or machine that manages risk, but they add additional...
saving for future purposes
  • #39,123
  • Jul 13, 2024 12:39am Jul 13, 2024 12:39am
Quoting RoelsMajor
{quote} Updated MT4 Prop, at least 75% profit split Firms: Goat Funded Trader - 40% - 80% Audacity Capital - 75% FXIFY - 75% FundedNext - 80% FTMO - 80% Brokers: ICF - IC Markets Funded - 75% - 80% OPT - Oanda Prop Trader - 80% HT - Hantec Trader - 90% AS - Axi Select - 90% TC - Traders Trust Trading Cult - 80% - 95% MT4 latest build: 1420 (23 May 2024) https://www.metatrader4.com/en/releasenotes
wow you mean, ICF uses IC Markets as their broker provider? Now we’re talking… Do they allow EAs?
If you're not architecting, you're building someone else's plan.
  • #39,124
  • Edited 1:13am Jul 13, 2024 1:00am | Edited 1:13am
Quoting XMR
{quote} wow you mean, ICF uses IC Markets as their broker provider? Now we’re talking… Do they allow EAs?
Yes. EA No.
But the rules are pretty much the same, still like most industries, because they benefit from traders' failures and account fees. There should only be a registration fee, let's say $100 for a single test. Then they should provide, for example, a 100k tester (virtual) account for trading within a month (test phase), and then they scale the amount of funds that can be provided to a trader according to their score. If a prop firm or broker cannot create a best scoring scale, then they should not offer test.

Quoting genuine007
{quote} saving for future purposes
"All models are wrong, many are useful, some are deadly."

Nassim Nicholas Taleb
Attached File(s)
File Type: pdf Evaluation-Rules-1.pdf   491 KB | 1,760 downloads
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #39,125
  • Jul 13, 2024 2:19am Jul 13, 2024 2:19am
Hi everyone,

I recently purchased a $100k funded account from FundedNext and successfully completed Phase 1.
However, with so many prop firm scams out there (companies withholding payouts, etc.),
I wanted to get your insights on FundedNext specifically.

Has anyone here used FundedNext and received payouts? I'd love to hear about your experience, both positive and negative.

In addition, I'm curious to know which prop firms in the market have a reputation for good support and reliable payouts.
Any recommendations would be greatly appreciated!

ThankYou
  • #39,126
  • Edited 4:08am Jul 13, 2024 2:57am | Edited 4:08am
Quoting NolanFelix
Hi everyone, I recently purchased a $100k funded account from FundedNext and successfully completed Phase 1. However, with so many prop firm scams out there (companies withholding payouts, etc.), I wanted to get your insights on FundedNext specifically. Has anyone here used FundedNext and received payouts? I'd love to hear about your experience, both positive and negative. In addition, I'm curious to know which prop firms in the market have a reputation for good support and reliable payouts. Any recommendations would be greatly appreciated! ThankYou...
I don't trust them a bit but I got paid several times.
My first experience was bad. Vitore has a payout denied for using copier, if I remember well.
https://www.forexfactory.com/thread/...7#post14660217

My recent experience:
https://www.forexfactory.com/thread/...4#post14844114

I would recommend that you keep payouts low, let's say in the 4 figures medium / low, don't use crazy lots, keep a decent risk per trade and don't use VPN, VPS and copiers. If you do that I believe you have better chances of flying under the radar with them (and with all props, I would say, but some are worse than others).
  • #39,127
  • Jul 13, 2024 4:40am Jul 13, 2024 4:40am
Quoting RoelsMajor
{quote} The average target profit for all proprietary firms or brokers is 10% (with no maximum trading day limit), which is already too high. Achieving even 7% a month is very difficult. Getting a 10% return over a long period is acceptable. Warren Buffett only has a CAGR of 10% per year (latest data). It's not easy to hope to become Jim Simons with a CAGR of 66% per year. Then, the maximum drawdown li
Agree, 10% is a lot and once you get to -7% is difficult to come back.
I do it because a 100 buys me a 10,000 propfirm account and you have rules to follow and so on.
If I place 100 on my account I don't take seriously, I risk a lot since otherwise is difficult and tiring to grow the account.

Cool table !!!!! Michael Marcus is my favourite interview from all the market wizards book series

Thanks
Kind regards
  • #39,128
  • Edited 5:33am Jul 13, 2024 5:13am | Edited 5:33am
Quoting Frag8383
{quote} Agree, 10% is a lot and once you get to -7% is difficult to come back. I do it because a 100 buys me a 10,000 propfirm account and you have rules to follow and so on. If I place 100 on my account I don't take seriously, I risk a lot since otherwise is difficult and tiring to grow the account. Cool table !!!!! Michael Marcus is my favourite interview from all the market wizards book series Thanks Kind regards

That's correct, but there are many complex rules that must be met. It's fine if you agree, go ahead; if you want to try, go ahead, including those who have succeeded. Those who failed should also reconsider before trying again. Darwinex seems to be the best model to try for 38 EUR, Axi is expensive for 500 USD, while other prop firms and brokers have similar models with varying prices.

Each trader has their own strengths, but it's clear that their weaknesses are similar. If there is a method to lock in these weaknesses, the results might be better. Therefore, find a Broker or Firm that provides and recommends such methods.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20240713_181929.jpg Size: 352 KB
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #39,129
  • Jul 13, 2024 6:36am Jul 13, 2024 6:36am
Quoting RoelsMajor
{quote} Yes. EA No. But the rules are pretty much the same, still like most industries, because they benefit from traders' failures and account fees. There should only be a registration fee, let's say $100 for a single test. Then they should provide, for example, a 100k tester (virtual) account for trading within a month (test phase), and then they scale the amount of funds that can be provided to a trader according to their score. If a prop firm or broker cannot create a best scoring scale, then they should not offer test. {quote} "All models are...
It seems they do allow EAs.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-07-13 at 7.34.40 PM.jpg Size: 463 KB

But they don’t allow HFT. Does anybody know what they mean by HFT? They stated somewhere on their website that less than 3000 messages per day is okay. I can’t even imagine what they mean by HFT.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-07-13 at 7.34.49 PM.jpg Size: 116 KB
If you're not architecting, you're building someone else's plan.
  • #39,130
  • Jul 13, 2024 6:41am Jul 13, 2024 6:41am
@Artcool i am not able to cancel the subscription on APEX dashboard what to do???
Any one else having this issue???
Extreme gut feeling trader
  • #39,131
  • Jul 13, 2024 6:58am Jul 13, 2024 6:58am
Quoting montygoldy
@Artcool i am not able to cancel the subscription on APEX dashboard what to do??? Any one else having this issue???
Email received yesterday....

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_39.png Size: 27 KB
Trade with confidence, trade without fear.
  • #39,132
  • Jul 13, 2024 7:48am Jul 13, 2024 7:48am
Quoting XMR
{quote} It seems they do allow EAs. {image} But they don’t allow HFT. Does anybody know what they mean by HFT? They stated somewhere on their website that less than 3000 messages per day is okay. I can’t even imagine what they mean by HFT. {image}
Sorry my mistake. EA (Expert Advisors) are permitted, but the part about needing to have the source code of the EA is not very clear.

HFT stands for High Frequency Trading. Pioneers in this field include JP Morgan and Citadel.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #39,133
  • Jul 13, 2024 7:55am Jul 13, 2024 7:55am
Quoting montygoldy
@Artcool i am not able to cancel the subscription on APEX dashboard what to do??? Any one else having this issue???
Like Crypto said, they were doing some upgrades this weekend. But they said it's already up again.If you missed the cancellation date because of that, they might be able to reimburse you.

But you can join my Discord if you want to chat with us in real time. Crypto asked me about you yesterday
Don't give up on your dreams. Keep sleeping.
  • #39,134
  • Jul 13, 2024 8:08am Jul 13, 2024 8:08am
Quoting Takisd
{quote} product not delivered as advertised.
can you tell me what else I could say if I give that reason? what part of the service was not delivered as advertised?
  • #39,135
  • Jul 13, 2024 8:29am Jul 13, 2024 8:29am
Quoting Frag8383
{quote} Agree, 10% is a lot and once you get to -7% is difficult to come back. I do it because a 100 buys me a 10,000 propfirm account and you have rules to follow and so on. If I place 100 on my account I don't take seriously, I risk a lot since otherwise is difficult and tiring to grow the account. Cool table !!!!! Michael Marcus is my favourite interview from all the market wizards book series Thanks Kind regards
Its difficult, but not impossible
I have done that 3 - 4 times
For example look at this 5k account from 5%ers
I bring back this account from death
Just 22$ left & I recovered this account to breakeven
Attached Image (click to enlarge)
Click to Enlarge Name: done that.jpg Size: 176 KB
  • #39,136
  • Jul 13, 2024 8:56am Jul 13, 2024 8:56am
anyone concerned by the recent hype of a struggling company "ascendx". All of a sudden so manybrain dead influencers are getting hype about them even gambling prop trader influencers are speaking at events for them its a magical scam
  • #39,137
  • Jul 13, 2024 8:59am Jul 13, 2024 8:59am
Quoting Artcool
{quote} Like Crypto said, they were doing some upgrades this weekend. But they said it's already up again.If you missed the cancellation date because of that, they might be able to reimburse you. But you can join my Discord if you want to chat with us in real time. Crypto asked me about you yesterday
send the discord link
Extreme gut feeling trader
  • #39,138
  • Jul 13, 2024 9:03am Jul 13, 2024 9:03am
Quoting montygoldy
@Artcool i am not able to cancel the subscription on APEX dashboard what to do??? Any one else having this issue???
I Have cancelled but reappeared and payment went through. All sorts of mixups with apex now. Large profit sitting on couple of PA accounts under review since 1st July. Not sure spending more money on apex is a wise choice.
on a postive roll...
  • #39,139
  • Jul 13, 2024 9:03am Jul 13, 2024 9:03am
Quoting RoelsMajor
{quote} The average target profit for all proprietary firms or brokers is 10% (with no maximum trading day limit), which is already too high. Achieving even 7% a month is very difficult. Getting a 10% return over a long period is acceptable. Warren Buffett only has a CAGR of 10% per year (latest data). It's not easy to hope to become Jim Simons with a CAGR of 66% per year. Then, the maximum drawdown limit (whether floating or realized) is 10%, and this is actually easy to achieve if there is an add-on or machine that manages risk, but they add additional...
the biggest advantage traders like we have is the small size we trade , a good short term trader can outperform any of those big funds …you can scalp profitable with 20 lots , the same strategy wont be profitable with 1000 lots
sooner or later the profit you make will reach a maximum as size increases and then start to decline because of limited liquidity in the market
so you are comparing apples with oranges in a way..
  • #39,140
  • Jul 13, 2024 9:29am Jul 13, 2024 9:29am
Quoting Stoneyrocks
{quote} the biggest advantage traders like we have is the small size we trade , a good short term trader can outperform any of those big funds …you can scalp profitable with 20 lots , the same strategy wont be profitable with 1000 lots sooner or later the profit you make will reach a maximum as size increases and then start to decline because of limited liquidity in the market so you are comparing apples with oranges in a way..
You're confusing percentage profit with positional size. If the market moves 3%, then both those with large capital and those with small will profit the same percentage-wise (scale). The downside is that small traders with smaller lots are less able to move the market compared to hedge funds.
fooled by randomness in art
Meditation All Time Return: 8.9%
57 traders viewing now