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  • #43,601
  • Oct 24, 2024 1:33am Oct 24, 2024 1:33am
Doesn't matter if FTT guy is joking or not, a CEO should never joke about denied payouts. That's sacred ground. This guy seems a complete idiot.

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  • #43,602
  • Oct 24, 2024 2:30am Oct 24, 2024 2:30am
Quoting Capablanca
Doesn't matter if FTT guy is joking or not, a CEO should never joke about denied payouts. That's sacred ground. This guy seems a complete idiot. {image}
I can't understand why people are still purchasing FTT accounts given the circumstances.
  • #43,603
  • Oct 24, 2024 3:12am Oct 24, 2024 3:12am
Some updates.....

ROAD TO PAYOUT

1. MFFU (FUNDED)- 50kx3 - 1200$ total (DAY 4, in 1 more to go for 3600$ )
3. Topstep (FUNDED) - 50kx5 - 3250$ total (DAY 3)
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Extreme gut feeling trader
  • #43,604
  • Oct 24, 2024 3:24am Oct 24, 2024 3:24am
Quoting montygoldy
Some updates..... ROAD TO PAYOUT 1. MFFU (FUNDED)- 50kx3 - 1200$ total (DAY 4, in 1 more to go for 3600$ ) 3. Topstep (FUNDED) - 50kx5 - 3250$ total (DAY 3) {image} {image}
Got my payout from Apex today, I'll get evaluation from MFFU for now. Apex 3.0 no longer value for money.
  • #43,605
  • Oct 24, 2024 5:20am Oct 24, 2024 5:20am
Quoting BlackOpz
Got my first 30K allocation (Nov) locked in today. Also earned it with a gain enough to need only 2% Dec gain for another 30K but I'm gonna let my EA rip all month and be careful during the third month. Today, I paused trading once I crossed the 75.00 mark to lock in my first 30K award since allocations aren’t awarded until the first day of next month. Still letting the robot run so gonna be interesting to see where it lands EOM. Darwinex seems to like my robot and is generally rating it as 'safe' despite using a limited-martingale recovery strategy....
Why would you think anyone would object to a martingale recovery strategy if it works?
There is nothing illegal about it. It's based on mathematics after all.
Only those who don't know how martingale works are in objection of it.
They say it all the time; 'I used it and lost everything'.
Yes, they shouldn't have used it and please never again.
You know how to use it, kudos.

I guess Darwinex understands and takes it as just another strategy like they should.
  • #43,606
  • Edited 6:03am Oct 24, 2024 5:38am | Edited 6:03am
Quoting OutThere
{quote} Why would you think anyone would object to a martingale recovery strategy if it works? There is nothing illegal about it. It's based on mathematics after all. Only those who don't know how martingale works are in objection of it. They say it all the time; 'I used it and lost everything'. Yes, they shouldn't have used it and please never again. You know how to use it, kudos. I guess Darwinex understands and takes it as just another strategy like they should.
Most prop-likes run away on martingale to fail accounts rather that judge the raw performance. I cut losers short even though I use martingale sizing at times. Glad Darwinex evaluates algo performance instead of violating the method.
  • #43,607
  • Oct 24, 2024 5:41am Oct 24, 2024 5:41am
Quoting BlackOpz
{quote} Most prop-likes run away on use martingale to fail accounts rather that judge the raw performance. I cut losers short even though I use martingale sizing at times. Glad Darwinex evaluates algo performance instead of violating the method.
Yes and we all know what a joke props are.
  • #43,608
  • Oct 24, 2024 5:52am Oct 24, 2024 5:52am
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share.

WHAT WOULD YOU DO WITH THIS INFORMATION?

I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that.

This is what the individual told. I ask you to ponder on this and contemplate what to do with this information:

1/ The funded company claims their clients are trading real money. That is not the case.

2/ The company takes in about $25,000,000 a year in fees paid from challengers.

3/ The company use tactics to ensure that only 1.5% of all users of the challenges go on to trade on a real account. In other words, 1 to 2 people per hundred will get funding.

4/ The company works with social media influencers and help them edit their trades and their profiles to ensure they appear profitable.

5/ Of the 1-2% who receives a funded account, these accounts are now a liability to the funded company, as they are still trading a B-book account, although it appears it is a real account.

6/ The company pays out no more than about $1.5-2m a year to people who make money on their funded accounts.

Point 3 is achieved through the use of price spikes that will stop traders out, even though it is not reflected in the real market. These are marginal differences and will often be undetected. There is no way to complain, because it is not a regulated industry, and challengers are trading on demo accounts.

Point 4 is achieved by recording videos in “replay mode”, and the underperforming trades are edited out professionally. The individual told me that one of the most prolific YouTubers is on their payroll, portraying himself as a successful trader with an impeccable track record. The reality is that he has never passed a challenge, and he serves only as a tool for the marketing funnel for said company.

Assimilate this, if you wish.
It takes a lot for me to IGNORE you, but you can try.
  • #43,609
  • Oct 24, 2024 6:03am Oct 24, 2024 6:03am
Quoting Erebus
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share. WHAT WOULD YOU DO WITH THIS INFORMATION? I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that. This is what the individual told. I ask you to ponder on this and contemplate what to do with this information: 1/ The funded company claims their clients are trading real money. That is not the case. 2/ The company takes in about $25,000,000 a year in fees paid from challengers....
This is fantastic info, actually. What we all know is going on, some points for sure, some points we always suspected anyway.
The influencers being on payroll is amazing.
Is this an fx prop or futures?
  • #43,610
  • Oct 24, 2024 6:12am Oct 24, 2024 6:12am
Quoting Erebus
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share. WHAT WOULD YOU DO WITH THIS INFORMATION? I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that. This is what the individual told. I ask you to ponder on this and contemplate what to do with this information: 1/ The funded company claims their clients are trading real money. That is not the case. 2/ The company takes in about $25,000,000 a year in fees paid from challengers....
Probably a prop owned by one of those 2 guys in post #43,602
But I really like to know who the influencer is.
Not that I watch any but it'd be good to know how they act and talk while being up to eyeballs corrupt.
  • #43,611
  • Oct 24, 2024 6:31am Oct 24, 2024 6:31am
Hmmm..I do remember getting pumlled talking negatively about props..
Times have changed I guess.
Meantime, hayseed said a few days back that he never met a prop he didn't like.
So, maybe props are like martingale that if you know, you know.
  • #43,612
  • Oct 24, 2024 6:33am Oct 24, 2024 6:33am
Quoting pipmaster77
{quote} This is fantastic info, actually. What we all know is going on, some points for sure, some points we always suspected anyway. The influencers being on payroll is amazing. Is this an fx prop or futures?
The most authentic info in this thread is from @montygoldy, period.
  • #43,613
  • Oct 24, 2024 6:59am Oct 24, 2024 6:59am
Quoting Erebus
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share. WHAT WOULD YOU DO WITH THIS INFORMATION? I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that. This is what the individual told. I ask you to ponder on this and contemplate what to do with this information: 1/ The funded company claims their clients are trading real money. That is not the case. 2/ The company takes in about $25,000,000 a year in fees paid from challengers....
Not surprised. Replay mode as is described is severely illegal.
  • #43,614
  • Oct 24, 2024 7:00am Oct 24, 2024 7:00am
Quoting failinforex
{quote} The most authentic info in this thread is from @montygoldy, period.
100% agree.
  • #43,615
  • Oct 24, 2024 7:00am Oct 24, 2024 7:00am
Quoting Erebus
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share. WHAT WOULD YOU DO WITH THIS INFORMATION? I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that. This is what the individual told. I ask you to ponder on this and contemplate what to do with this information: 1/ The funded company claims their clients are trading real money. That is not the case. 2/ The company takes in about $25,000,000 a year in fees paid from challengers....
Takisd may validate this but I have many doubts about point 5 (1-2% who receives a funded account) and 6 ($1.5-2m a year payouts, out of 25m revenenue). Seems too good (for the company) to be true.
  • #43,616
  • Oct 24, 2024 7:02am Oct 24, 2024 7:02am
Quoting Erebus
Don't attack me - posted by Trader Tom on his Telegram channels and he gives permission to share. WHAT WOULD YOU DO WITH THIS INFORMATION? I have had a conversation with an individual who works for a “funded challenge" company. I promised 100% anonymity, and I will respect that. This is what the individual told. I ask you to ponder on this and contemplate what to do with this information: 1/ The funded company claims their clients are trading real money. That is not the case. 2/ The company takes in about $25,000,000 a year in fees paid from challengers....
This is 100% correct.

Could only be one or those Prop Firms who have their own Metatrader platform. Sounds suspiciously like 5%ers
but could be Fundednext or FTMO.
  • #43,617
  • Oct 24, 2024 7:04am Oct 24, 2024 7:04am
Quoting OutThere
Hmmm..I do remember getting pumlled talking negatively about props.. Times have changed I guess. Meantime, hayseed said a few days back that he never met a prop he didn't like. So, maybe props are like martingale that if you know, you know.
Yes, even though we knew how they worked.....as long as they paid, most (not all) were a good value and allowed for better returns than a personal account.
2020-2022/early 23 were great.
We always knew profitable traders getting paid were a liability to the firm on the balance sheet, really no different than 99% of brokers who are counter-party to your trade (forex, not futures).
Fast forward to today, with all of the rules to avoid payout plus all of the straight up payout denials.....no good anymore.
  • #43,618
  • Oct 24, 2024 7:09am Oct 24, 2024 7:09am
Quoting Capablanca
{quote} Takisd may validate this but I have many doubts about point 5 (1-2% who receives a funded account) and 6 ($1.5-2m a year payouts, out of 25m revenenue). Seems too good (for the company) to be true.
Its likely one based out of malta.
  • #43,619
  • Oct 24, 2024 7:10am Oct 24, 2024 7:10am
Quoting Bizziebee
{quote} This is 100% correct. Could only be one or those Prop Firms who have their own Metatrader platform. Sounds suspiciously like 5%ers but could be Fundednext or FTMO.
None of those say its real funds.
  • #43,620
  • Oct 24, 2024 7:15am Oct 24, 2024 7:15am
Quoting Takisd
{quote} Its likely one based out of malta.
What about the figures of point 5 and 6. Are they credible ?
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