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Anyone trading with a Prop firm 6 replies

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

prop firm new model - my trading journey 871 replies

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Quoting montygoldy
{quote} I have them thats what i am saying already max allocated 20x50k. 900$ profit in each of them and 400$ drawdown deficit. Purchased 40 evals as backup which i never did with any other firm ever. Also a REVIEW for e8markets. I tried their v1 pro model. Man, their spreads are out of this world. May be they are running the firm on MARS or PLUTO but not on EARTH for sure. 45-48 cents on xaususd 1pip on cable 3-3.5 points on Dow 65-68$ on BTCUSD (I mean is it for real) Excluding slippages When i asked the support...
I was considering giving them another try, but looks like they haven't improved. Faced the same thing over a year ago. Or was it 2 years ago? Large spreads and slippages.
does anyone here tried axetrader? they are offering 2 accounts for a price of one which I think a good deal.
[quote=MarkosMom;14868828]What a surprise. The Alpha/Ascendx plant has launched a paid discord, having transitioned from a waiter to profitable trader in all of 30

Oh come on Mom, your cynicism is not welcome here. Surely this is what the trading world needs. Who else could slowly transfer their market experience to us via daily live calls, market outlooks and trade breakdowns better then a man who only last month couldn't afford his bus fare home. Thank goodness those kind souls refunded his last challenge fee, so he could then go on to buy another challenge and make 1/4 mil in a week. This will be the best 150 bucks I've ever spent
Quoting rizla101
Quoting MarkosMom
What a surprise. The Alpha/Ascendx plant has launched a paid discord, having transitioned from a waiter to profitable trader in all of 30 Oh come on Mom, your cynicism is not welcome here. Surely this is what the trading world needs. Who else could slowly transfer their market experience to us via daily live calls, market outlooks and trade breakdowns better then a man who only last month couldn't afford his bus fare home. Thank goodness those kind souls refunded his last challenge fee, so he could then go on to buy another
...
Who are you referring to? Haven't kept up with the chatter on their discord channels recently.
Is AscendX dead ? I cant log in to my account, i cant open my MT5 desktop or MT5 mobile version.
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Quoting maltrader
{quote}{quote} Who are you referring to? Haven't kept up with the chatter on their discord channels recently.
Samranjit or whatever his name is. Cried about fundedpeaks on twitter, got popular because ACG and ascendx promoted him. He went from 0 followers to thousands in a few weeks and then straight to discord sales. There were multiple people on twitter predicting it would happen at around day 5 of his existence. He denied it at first and now he is pushing his group very hard because he is just another scammer.
Quoting hayseed
{quote} //------ darrell mentioned dca in one of apex's videos..... but was not clear about if averaging up was ok...... adding to winners is common for me..... there is a subtle way that might keep us in the dca down clear...... with 20 accounts and trading individually, or small groups, you could sell at 40,115 in one group..... 40,120 in another....... 40,125 in another and so on..... i'm sure you see the thought..... i use the doms atm feature , with preset values of 1 to 1...... 100$ profit target and 100$ stoploss..... so i will make 100 or...
thank you hayseed for the idea since I trade each account individually.
regarding to DCA, they allow 1 average down but unlimited average up

Derrell addresses this in the Apex discord by saying: “DCA only applies to losing trades and you can enter 1 time more if in a losing trade”. He is saying that you can enter with the same contract size as your original entry 1 more time (if trade is negative) after your original entry, even if it is in a losing trade. You can add to winning trades as often as you would like.
Quoting Boulder
{quote} thank you hayseed for the idea since I trade each account individually. regarding to DCA, they allow 1 average down but unlimited average up Derrell addresses this in the Apex discord by saying: “DCA only applies to losing trades and you can enter 1 time more if in a losing trade”. He is saying that you can enter with the same contract size as your original entry 1 more time (if trade is negative) after your original entry, even if it is in a losing trade. You can add to winning trades as often as you would like.
The problem with this kind of rules is that we're always afraid that they use them to ban us for small details or even errors.

For example 1:3 max risk. What if I don't set SLs ? How do they know what was my R/R ? By the previous days ? OK, but today may be a Monday, which I think will be a choppy day and I'll try to get 1:1 in bigger positions and tomorrow may be Wednesday CPI and I will try to capture a good move with 1:5 and very small position.

Another example: I buy at 5000, SL at 4900, TP at 5300. Fine, it's 1:3. But now the market move nowhere and I exit at 5025. So 25 profit while the SL was 100. 1:4, which is over 1:3 maximum allowed.

Another example: I enter these longs:
1 micro at 5000
1 micro at 5100
1 micro at 5200
1 micro at 5300
All fine because I'm adding to winning positions.
Now price is at 5250 but I think cofs are dry on the offer side so I think price is ready to resume up. I'm winning in the 3 initial entries and losing in the last one. Can I enter a 5250 ?

And, no, I'm not inventing theoretical scenarios. These 3 things happens often in my real accounts which I take care very seriously and carefully.
------
No need to tell me it's their rules, accept or move somewhere else. I know that and I abide by them. What I think is that theirs rules oblige me to "game", instead of trading naturally. I'll do that but always afraid of doing a "mistake".
Quoting Capablanca
{quote} The problem with this kind of rules is that we're always afraid that they use them to ban us for small details or even errors. For example 1:3 max risk. What if I don't set SLs ? How do they know what was my R/R ? By the previous days ? OK, but today may be a Monday, which I think will be a choppy day and I'll try to get 1:1 in bigger positions and tomorrow may be Wednesday CPI and I will try to capture a good move with 1:5 and very small position. Another example: I buy at 5000, SL at 4900, TP at 5300. Fine, it's 1:3. But now the market...
I start to like the new rules, I think they will benefit my trading.
-DCA-max 2 positions if average down, which limit my chance blowing my accounts. HFT FX propfirms have the same rules, I am used to it.
- RR 3:1, if my everage win around $100, my stop loss can not be more than $300, which limit my downside risk. Since I do a lot scalp trades in the morning, this will enforce me with good risk management

I just got 5 PA accounts ( $50k and $250k ), I am going to trade them separately ..
Quoting Capablanca
{quote} The problem with this kind of rules is that we're always afraid that they use them to ban us for small details or even errors. For example 1:3 max risk. What if I don't set SLs ? How do they know what was my R/R ? By the previous days ? OK, but today may be a Monday, which I think will be a choppy day and I'll try to get 1:1 in bigger positions and tomorrow may be Wednesday CPI and I will try to capture a good move with 1:5 and very small position. Another example: I buy at 5000, SL at 4900, TP at 5300. Fine, it's 1:3. But now the market...
In other words, better to take a small loser than a winner. Close slightly under break even and take a small loss if you can't get a big enough winner to keep your R:R better than 1:3. Or move your SL to break even first and then close a small winner to get around it?
Quoting AaronPriest
{quote} In other words, better to take a small loser than a winner. Close slightly under break even and take a small loss if you can't get a big enough winner to keep your R:R better than 1:3. Or move your SL to break even first and then close a small winner to get around it?
That's what I call gaming the rules.
But, yep, you're right. I also thought about that (in fact, for each rule they produce we have different ways of gaming them).
Quoting Boulder
{quote}. . .. I just got 5 PA accounts ( $50k and $250k ),. . ..
How long does it take for the additional accounts to appear in the platform. My tradovate platform still showing only 1 account.
Quoting mixedbags
{quote} How long does it take for the additional accounts to appear in the platform. My tradovate platform still showing only 1 account.
For what I read in Discord they seem to have problems today with Tradovate. I guess Tradovate is not copping with so much madness in futures right now.
Quoting Capablanca
{quote} For what I read in Discord they seem to have problems today with Tradovate. I guess Tradovate is not copping with so much madness in futures right now.
Yeah, looks like overwhelmed with sign ups, taking a bit to clear the backlog.
Trade with confidence, trade without fear.
FTMO to launch a broker.
https://www.financemagnates.com/fore...-kamerman/amp/

Takisd any opinion on this ?
Darrell was on discord last night and the discussion of streamers like alpine trader and patrick weiland, who abused and repeatedly breaking rules on live stream and gloating about it.
Trade with confidence, trade without fear.
Quoting Cryptosurf
Darrell was on discord last night and the discussion of streamers like alpine trader and patrick weiland, who abused and repeatedly breaking rules on live stream and gloating about it.
What was the gist of the discussion?

Figured I'd try Apex out. Signed up for 4 x 250k accounts. So far tradovate doesn't want to play ball.

What are the new rules I need to be aware of?
Quoting MarkosMom
{quote} What was the gist of the discussion? Figured I'd try Apex out. Signed up for 4 x 250k accounts. So far tradovate doesn't want to play ball. What are the new rules I need to be aware of?
There are no “new rules,” they were always there in the PA agreements. They just having to reinforce them now because of a few bad actors.
Trade with confidence, trade without fear.
Quoting MarkosMom
{quote} What was the gist of the discussion? Figured I'd try Apex out. Signed up for 4 x 250k accounts. So far tradovate doesn't want to play ball. What are the new rules I need to be aware of?
Not new but in a nutshell in funded:
30% consistency
20% max flipping days
SLs in orders
Max 1:3 risk (risking 3 to profit 1)
No DCA (apparently adding 1 position in loss is still fine)
Consistency in sizing during trading days. No windfall days. No news strategies.
Min 10 days for each payout.

Maybe I'm forgetting something but this is what I recall
Quoting hayseed
{quote} //------ darrell mentioned dca in one of apex's videos..... but was not clear about if averaging up was ok...... adding to winners is common for me..... there is a subtle way that might keep us in the dca down clear...... with 20 accounts and trading individually, or small groups, you could sell at 40,115 in one group..... 40,120 in another....... 40,125 in another and so on..... i'm sure you see the thought..... i use the doms atm feature , with preset values of 1 to 1...... 100$ profit target and 100$ stoploss..... so i will make 100 or...
Very true, I break my orders up KNOWING I am not dead on and I leave "breathing" room for trade to move against me, where I then fire more entries. Technically, it is adding to losers, however, it is part of my MM plan before I take the position. I can risk 4% in a larger size, or I can split 1% up in 4 orders and avaerage in at a better price....it is a legit strategy and the way I've traded forex for years.......always scaling in/out with smaller orders within the overall position.
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