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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

Attachments: Prop Firm Hub
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Prop Firm Hub

Now everyone knows futures prop industry is a gold mine. Thanks to KarlKraus and Quickly.
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Quoting ladder
Now everyone knows futures prop industry is a gold mine. Thanks to KarlKraus and Quickly. {image}
Just a question isn't it futures more regulated even though new firms coming but they can't BS right?
Extreme gut feeling trader
Quoting ladder
Now everyone knows futures prop industry is a gold mine. Thanks to KarlKraus and Quickly. {image}
first they should focus to run forex prop firms better
they just want to jump in next, nobody wants to stay behind
that's why
who are doing good are failing futures challenges
for example "KIMMEL TRADING"
that good is doing great in forex prop firms but failed in futures challenges & he did not say anything good about futures even when he started challenges
and I did not even see his video about failling.. in that he will talk lot more bad

I will jump into futures only if some firm come with balance based drawdown
I am sure some firm will definitely come up with that
Just like in forex prop firms, firms started unlimited time period
Quoting Nsak3y
{quote}-All of the above.

Ah, I see. And certainly a valid point. Without having the benefit of accessing any firms to try them out, it's impossible to know which are trustworthy. I certainly consider it worth it to risk a few hundred dollars on a challenge to test the validity of a firm, but to have to first move countries to gain access to even try adds a whole new element of pressure, for sure. I have read through reviews and done research, but it's hard to fully know and trust without firsthand experience.

I know that forex trading is what I want to continue doing. It is my absolute love and passion, i just need large enough capital to give myself an edge.
I am in a very good position to be able to pivot whichever way is neccesary to see my financial goals to life, it’s just about having the right information to best utilize my effort, focus and resources. I trust that solutions will find me, and I will accomplish my goals one way or another. I’m grateful to have found this website, for sure, and hope it continues to deliver insights.

Thanks, best regards.
Quoting MissLouise
US PROP FIRM RESTRICTIONS - moving out of US? Hi everyone. With the US restrictions shutting down prop firms left and right, and MT5\MT4 getting replaced with miserable alternatives for us like Matchtrader and TradeLocker, I am seriously considering moving outside the US to be able to trade Prop Firms with peace and freedom. I am not interested in spending years building a small account with my own personal money or trying to gamble to grow fast when I could alternatively make 10x more from the same efforts by using firms. With that being said,...
As far as I heard when props started to ban US is that they won't allow US citizens and not just US residents.
So, unless you get a second passport you may end up in the same situation being American.
Quoting montygoldy
{quote} Just a question isn't it futures more regulated even though new firms coming but they can't BS right?
This is a videogame so it won't be a problem to scam people. Apparently Matt is already BS denying some payouts (and on spreads there's already evidence that he is also BS people with spreads wider than real).

When rules are so subjective it's a fertile field for scammers to come and star denying payouts and terminate accounts (even worse than in forex because one account terminates probably 5 or 10 or 20, depending how many they offer).

Section 2: Order Management and Market Conduct
MFFU emphasizes ethical trading practices and order management to ensure a stable and reliable trading environment:
● Order Placement: Simultaneously placing multiple limit orders at the same price to manipulate order fills is prohibited.
● Gapped or Illiquid Market Trading: Initiating trades to profit from isolated fills in these markets is not allowed.
● Slippage and Bracket Usage: Exploiting the absence of slippage and utilizing tight brackets to gain from favorable fills are not permitted.
● Tier 1 Economic Data Trading: Engaging in trades during tier 1 economic data releases is restricted.
● Compliance with CME Group Rules: All trading activities must adhere to CME Group's rules and regulations.
● Collaborative Trading: Collaborating with others to execute identical or opposite strategies across unconnected accounts is prohibited.

Anticipating that futures will also be the wild farwest is a very easy prediction.
Quoting Capablanca
{quote} As far as I heard when props started to ban US is that they won't allow US citizens and not just US residents. So, unless you get a second passport you may end up in the same situation being American.
My understanding is that as long as I establish residency and valid ID for outside of US, I can qualify. So this is interesting, I hadn't heard it that way yet. Thank you for sharing.
Quoting MissLouise
US PROP FIRM RESTRICTIONS - moving out of US? Hi everyone. With the US restrictions shutting down prop firms left and right, and MT5\MT4 getting replaced with miserable alternatives for us like Matchtrader and TradeLocker, I am seriously considering moving outside the US to be able to trade Prop Firms with peace and freedom. I am not interested in spending years building a small account with my own personal money or trying to gamble to grow fast when I could alternatively make 10x more from the same efforts by using firms. With that being said,...
It all depends on where you are trying to go. I can tell you from my experience that Germany is a nightmare with paperwork. It's harder for someone coming in from the U.S. than it is for an illegal immigrant. Without a job, student visa, or some monthly income that you can prove like retirement or something it's not going to happen. Medical insurance is costly too. There is no way remotely either. You need residency paperwork to get a driver's license, bank account, etc. If you are thinking about Europe at least the European Union it would be tough.
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Alpha news rule update
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The term 'Tightening the Belt' is illustrated in the 2 posts above.
Any tighter than this...well, they won't have a belt to tighten.
Quoting TrAndy1
{quote} HFT EA ? Really? that kind of passing service for yourself or from someone else is not give you good light. Usually those traders get banned and payout denied. Beware!
I see them advertising HFT passing services on their social media. They are promoting it, so it must be a very good marketing tactic. I am so curious to hear from people who are funded requesting payouts: what percentage of people are having success? And, if traders are getting unjustly banned and denied, what kind of excuses are being made by the firm and how could they possibly manage to continue operating such a large scale fraudulent system such as that, without backlash exposure?
Quoting Capablanca
Changes in Blue {image} {image}
Wow 3 phase challenge I can't wait.
Quoting woody70
{quote} It all depends on where you are trying to go. I can tell you from my experience that Germany is a nightmare with paperwork. It's harder for someone coming in from the U.S. than it is for an illegal immigrant. Without a job, student visa, or some monthly income that you can prove like retirement or something it's not going to happen. Medical insurance is costly too. There is no way remotely either. You need residency paperwork to get a driver's license, bank account, etc. If you are thinking about Europe at least the European Union it would...
Certainly, the process would be extensive. I would need to establish my entire life in a new country. It could be worth it, for how much money I would be able to make. However, light is being shed on the volatile nature of prop firms through my research, and it's becoming clear that my hopes for a return of profit may not be as secure as I first thought. It's difficult to speculate without the privilege of gaining firsthand experience working with the firms, but from what I'm learning, these are gray waters; To move across the country, for the firms to have ended up being fraudulent or unreliable, would certainly feel like drowning. My endeavors are earnest, I just need to know which, where and what I can put my trust in. We shall see.
Quoting MissLouise
US PROP FIRM RESTRICTIONS - moving out of US? Hi everyone. With the US restrictions shutting down prop firms left and right, and MT5\MT4 getting replaced with miserable alternatives for us like Matchtrader and TradeLocker, I am seriously considering moving outside the US to be able to trade Prop Firms with peace and freedom. I am not interested in spending years building a small account with my own personal money or trying to gamble to grow fast when I could alternatively make 10x more from the same efforts by using firms. With that being said,...
I'd probably look at South America if I were you. Europe is f*&Ked by politics and immigration.

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Quoting genuine007
I will jump into futures only if some firm come with balance based drawdown
What do you mean by “balance based drawdown”?

If you mean a maximum allowed drawdown that doesn’t trail open equity but is adjusted only at the end of each day, there are already several.

Topstep, for example, has been like that for a decade: their permitted drawdown has never trailed open equity.

Tradeday is the same, and they also have no daily loss limit.

(But maybe you mean something different? Sorry if I misunderstood you).
Quoting montygoldy
{quote} Just a question isn't it futures more regulated even though new firms coming but they can't BS right?

Probably it is the same business model.

Company against traders. With a simulated data. They are actually betting companies, betting against traders.

As long as the company wins they will stay legit
Quoting Eren10
{quote} Probably it is the same business model. Company against traders. With a simulated data.

Completely wrong. It isn’t, at all. It’s completely different.

With futures, it’s trivially easy to verify that you’re trading on a real, live, genuinely funded account on a real exchange. It’s a genuine partnership in which the people funding you can profit only when you do, and are therefore obviously always on your side.

You don't need to take anyone's word for it.

It takes 1 second to verify it for yourself.

https://www.forexfactory.com/thread/...9#post14846539
Quoting KarlKraus
{quote} Completely wrong. It isn’t, at all. It’s completely different. With futures, it’s trivially easy to verify that you’re trading on a real, live, genuinely funded account on a real exchange. It’s a genuine partnership in which the people funding you can profit only when you do, and are therefore obviously always on your side. You don't need to take anyone's word for it. It takes 1 second to verify it for yourself. https://www.forexfactory.com/thread/...9#post14846539
Forget about it. Most of the online future props that are discussed here are no different from the forex ones.

All the cowboys that are about to come to the arena and most of the already existing ones provide videogames, just like forex, and not real stuff. And that's easy to verify as you say (some we don't even have to verify because it's written in their T&C).
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