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Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

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  • #43,621
  • Oct 24, 2024 7:24am Oct 24, 2024 7:24am
Scam Alert! Fast Track Trading Mass Denies Trader Payouts!
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  • #43,622
  • Oct 24, 2024 7:26am Oct 24, 2024 7:26am
Quoting Erebus
The funded company claims their clients are trading real money. That is not the case.
That clearly excludes both 5%ers and FTMO (neither claims that).

And it can only be a CFD one, obviously, not a futures one (where that isn’t possible for the simple, glaringly obvious, factual reason explained multiple times above but still persistently ignored here by people who don’t really want to learn or understand anything).
  • #43,623
  • Oct 24, 2024 7:31am Oct 24, 2024 7:31am
Quoting Capablanca
{quote} What about the figures of point 5 and 6. Are they credible ?
I don't know I have no insight into those companies they operate very differently.
  • #43,624
  • Oct 24, 2024 7:42am Oct 24, 2024 7:42am
Quoting Quickly
{quote} That clearly excludes both 5%ers and FTMO (neither claims that). And it can only be a CFD one, obviously, not a futures one (where that isn’t possible for the simple, glaringly obvious, factual reason explained multiple times above but still persistently ignored here by people who don’t really want to learn or understand anything).
Once again, nobody is disputing that you can see a real order.
The dispute is the fact that most of the futures props ARE NOT sending orders to a live market.......including Topstep.
  • #43,625
  • Oct 24, 2024 7:55am Oct 24, 2024 7:55am
Quoting pipmaster77
{quote} Once again, nobody is disputing that you can see a real order. The dispute is the fact that most of the futures props ARE NOT sending orders to a live market.......including Topstep.
which ones do send orders to a live market ?
  • #43,626
  • Oct 24, 2024 8:04am Oct 24, 2024 8:04am
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.
FTMO does more than that and 5ers pays almost 2 millon per month, my opinion i think is toptier trader but who knows
  • #43,627
  • Oct 24, 2024 8:13am Oct 24, 2024 8:13am
Quoting pipmaster77
{quote} Once again, nobody is disputing that you can see a real order. The dispute is the fact that most of the futures props ARE NOT sending orders to a live market.......including Topstep.
Hey there!

How are you getting on with Darwinex? When did you start again and where are you, has there already been a payout and are you still optimistic about receiving the 10 million in investor capital in 12 months?

What about your trading with other prop companies? Can you make a good living from it (even without a salary, savings or other additional income)?
  • #43,628
  • Oct 24, 2024 8:22am Oct 24, 2024 8:22am
Quoting Stoneyrocks
{quote} which ones do send orders to a live market ?
I've only used Apex and TPT. Apex definitely does not, TPT will put you on live after you have earned 10K.
MFFU and some others now have a "path to live", which I believe is simply pre-emptive due to anticipated incoming regulations.
With all of that being said, there are numerous members here using several different firms......Apex, Topstep,MFFU, TPT, I believe Monty is using Tradeify......
NOT ONE TIME have any of us been able to confirm we see our order on the book.
  • #43,629
  • Oct 24, 2024 8:23am Oct 24, 2024 8:23am
Quoting Capablanca
{quote} What about the figures of point 5 and 6. Are they credible ?
Rocket used to have those kind of numbers [not exactly 1.5 to 2. slightly higher]. Influencers were on annual contracts with 500K to 1M as annual payment [There were 3 to 4 including Alex]
  • #43,630
  • Oct 24, 2024 8:31am Oct 24, 2024 8:31am
Quoting Noisy
{quote} Hey there! How are you getting on with Darwinex? When did you start again and where are you, has there already been a payout and are you still optimistic about receiving the 10 million in investor capital in 12 months? What about your trading with other prop companies? Can you make a good living from it (even without a salary, savings or other additional income)?
Calibration was June, first month in silver was July......I have qualified 3 consecutive months for min 30K, so I am trading 90K in Oct. Made 2.4%, 2.2% in Aug and Sept and despite a great start to Oct, I am barely positive this month. First payout will be Nov.1 for Aug-Oct. I will keep the 90K in Nov as I can actually be negative this month and still qualify for my 30K due to previous returns. They still project me at 35% annual return, so what I get AUM is completely on their ability to attract capital......I believe my numbers are good enough to attract significant capital, just depends on the exposure Darwinex can provide.
No, I would not trade props for a living without an additional source of income or a significant safety net.
  • #43,631
  • Oct 24, 2024 8:54am Oct 24, 2024 8:54am
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....
A Prop Firm is not a true Prop Firm, it's not real capital, just a simulation game with an average 10% profit target, even in Darwinex DZero it’s not actual capital. As for the posts by many influencers, they also just rely on trust, not something that can be verified. Regarding performance, Darwinex offers demo performance that is verified, although adjusted according to their system. That’s the reality.

Why are many people interested in this gambling (or some say speculation) game? Because of the potential for multiplied profits. Spending $200 with the chance of getting $2000 in return, if successful, is already 10x or 900%.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #43,632
  • Oct 24, 2024 9:02am Oct 24, 2024 9:02am
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....
Where may I find this risk stability and loss aversion within my dashboard?
  • #43,633
  • Oct 24, 2024 9:15am Oct 24, 2024 9:15am
Just my 2 cents.....

Too much discussion on how prop works or making shitload of money and shady tactics....

Which we all already know is a money printing mine which can go away anytime......

We are still using them coz Rewards are too good as comapred to risk.

This is similar to any regular trading statistics where 95-98% traders fail in long term but in case of props its even harder to get to a payout but people still do it coz of price point and dream of pulling big numbers......

In the end Props are in the business of making money for themselves as well. A while back i compared these prop firms to the crypto Shit coins when they pumped hard and many become millionaire overnight on the other side alot of people lost money as well (i lost 4k with the only shit coin i purchased after the hype died that was EclipseToken)

In the End what @pips @casa and other doing MILK'em hard as much as you can and FUND your personal Account....
Extreme gut feeling trader
  • #43,634
  • Oct 24, 2024 9:31am Oct 24, 2024 9:31am
Quoting pipmaster77
{quote} Where may I find this risk stability and loss aversion within my dashboard?
Create a free darwinex.com account and find your system on DarwinIA. The regular Darwinex site (not DZero has better account stats)
  • #43,635
  • Oct 24, 2024 9:34am Oct 24, 2024 9:34am
Quoting montygoldy
Just my 2 cents..... Too much discussion on how prop works or making shitload of money and shady tactics.... Which we all already know is a money printing mine which can go away anytime...... We are still using them coz Rewards are too good as comapred to risk. This is similar to any regular trading statistics where 95-98% traders fail in long term but in case of props its even harder to get to a payout but people still do it coz of price point and dream of pulling big numbers...... In the end Props are in the business of making money for themselves...
Exactly. The futures market will always be here....use the props to build as large a personal account as you can.......who really cares how it works?

As far as who puts you live......I prefer not to be live, I can do that on my own. They are taking profits YOU HAVE ALREADY EARNED and moving them live.

Once that happens, I have no further need for the prop, I will put those funds in my own account.

As @Cable J mentioned a few days back, other than maybe some tax advantages, being live with a prop firm has zero advantage for the trader.
  • #43,636
  • Oct 24, 2024 10:57am Oct 24, 2024 10:57am
Quoting pipmaster77
{quote} Calibration was June, first month in silver was July......I have qualified 3 consecutive months for min 30K, so I am trading 90K in Oct. Made 2.4%, 2.2% in Aug and Sept and despite a great start to Oct, I am barely positive this month. First payout will be Nov.1 for Aug-Oct. I will keep the 90K in Nov as I can actually be negative this month and still qualify for my 30K due to previous returns. They still project me at 35% annual return, so what I get AUM is completely on their ability to attract capital......I believe my numbers are good...
Thank you for your answer and congratulations on your success with Darwinex so far. According to your information, you should be able to expect a payout of at least 306,00 € in November. I left out October because I don’t know what "barely profitable" means here in percentage terms.

Aug: 30000 (capital) x 0,024 (profit) x 0,15 (profit share) = 108,00 €
Sep: 60000 (capital) x 0,022 (profit) x 0,15 (profit share) = 198,00 €

So a 306,00 € gross profit (not including your costs for the service, time spent, taxes etc.)

If we ignore your time and taxes or other costs that may have arisen, you have at least paid the €38 per month that Darwinex Zero costs. So expenses of €152.00 for July to now

306,00 - 152,00 = 154,00 € (your net profit for 4 months of time)

At least that'll pay for the beer

Quote
According to the U.S. Bureau of Labor, the average U.S. annual salary in Q4 of 2023 was $59,384

Yes, it seems like it's not that easy to actually make a living from trading without generating additional income on the side. Not without a decent amount of capital or having to take unnecessarily high risks.

Yes, I also think that a 35% annual return is good, especially if you can keep it up for years. However, I don't see that Darwinex really provides traders with enough capital to really make a living from it. At least not after just 12 months. The few currently leading DARWINs that have investor capital in the 2-digit million range are very few and, even worse, they seem to have needed significantly more time to do so. 5-7 years?

I don't know, but maybe Darwinex simply doesn't manage to provide its successful traders with sufficient capital in a timely manner or hardly any investors are really interested in providing successful traders with the necessary capital? I also doubt whether it is easier with these "prop"- trading companies and whether people here actually earn a regular income from trading (which they can also live from). Most of these prop firms seem to be more interested in getting rid of traders who are profitable rather than paying regularly.
  • #43,637
  • Oct 24, 2024 11:13am Oct 24, 2024 11:13am
Quoting RoelsMajor
even in Darwinex DZero it’s not actual capital.
Instead of Darwinex Zero, you could also deposit 100k into a classic Darwinex, then it's real money. The statistics remain the same and you can even get investors money from day 1 (although you won't find any outside investors there). But you may have rich family and friends who you can convince to deposit there in order to benefit from your winnings. The good thing here is that at least then everything is under a regulatory curtain and you don't need a license to manage outside capital, Darwinex takes care of that in the background with its risk engine.
  • #43,638
  • Oct 24, 2024 11:15am Oct 24, 2024 11:15am
Quoting TrAndy1
Scam Alert! Fast Track Trading Mass Denies Trader Payouts! https://www.youtube.com/watch?v=yDSp7Rd05H0
Again, you're way behind the curve. Everyone is already aware of Fast Track's scandalous behavior.

Instead of posting videos of all your favorite Youtube affiliate whores just provide a list of all the channels you subscribe to. That way we can keep the thread a bit cleaner without having to see some random video from some girl named Kelly.

Thank you for your attention to this matter
Pride always comes before destruction.... -Proverbs 16:18
  • #43,639
  • Edited 12:15pm Oct 24, 2024 11:32am | Edited 12:15pm
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}
Final Update for the day....

Went beserk with topstep funded - 3.1k PROFIT i.e 150% gain.... this time i want a payout to cover up the total money spent on this firm.... close to 4k........ only net negative firm till yet (also tradeify not counting it coz yet to get to a funding stage)


Officially crossed the threshold and even more sitting at 4k drawdown.... 2 more days to do... Now i am aiming for 100-200$ for next 2 days to pull 50% i.e 2k per account. = 10k bag

Thanks to no consistency on topstep had this monster day.....


PLUS ANYONE KNOW HOW TO SHOW TRADE LINES IN TOPSTEPX (i.e entry and exit)
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Extreme gut feeling trader
  • #43,640
  • Oct 24, 2024 11:40am Oct 24, 2024 11:40am
Quoting Noisy
{quote} Thank you for your answer and congratulations on your success with Darwinex so far. According to your information, you should be able to expect a payout of at least 306,00 € in November. I left out October because I don’t know what "barely profitable" means here in percentage terms. Aug: 30000 (capital) x 0,024 (profit) x 0,15 (profit share) = 108,00 € Sep: 60000 (capital) x 0,022 (profit) x 0,15 (profit share) = 198,00 € So a 306,00 € gross profit (not including your costs for the service, time spent, taxes etc.) If we ignore your time...
Yes, Darwinex is definitely a long game. I knew that going in. As long as my fees are covered, I'll play to see if it does indeed play out the way it is supposed to. Not trying to make a living from it, yet.
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