Thought I would share an interesting youtube channel
She has been learning to trade over the past couple of years. This most recent video shows her take on the 100k FTMO challenge, which she passes. After that she has another two 100k challenges running at the same time, which she also passes. Thats 300k of funding, pretty descent, and good inspiration.
Ok. Noted.
@Paulscaff1 thanks for sharing that YouTube channel. I had discovered that prop firm before blufx but from what I see it’s basically a demo account they give to you after you pay and even when you pass their challenge, it remains so. I found a Facebook group where other users are in, and I can see complaints from time to time of not being able to access ones account - server issues. This is typical with demo accounts. I am not finding them attractive anymore even though the subscription is a one time fee Thu.
The demo account part wouldnt bother me either way as long as I was paid my share of the profit percentage. I think the issues sometimes are with the FTMO hub server which doesnt update right away but the broker should be ok. I could be wrong, but im still gona give it a shot when I feel ready. Loads of uncertainty with all these prop firms, probably better to just take the risk and try for yourself.
I see. Well, from what I saw people say, demo account servers are usually not upgraded regularly like real account servers are. They aren’t a priority for the brokers. So sometimes you can be trading and be unable to access your account and that’s it. You’d have to begin all over again. Or sometimes you wouldn’t be able to login for a long time. That’s not pretty. I wish you the best of luck nevertheless. I signed up with Blufx over the weekend and I am hoping for the best in this decision.
I ask myself, why do i need a prop.trading project, where i have to pass several “contests” to work with their money, if i trade profitable anyway?. If someone doesnt trade profitable, he wont pass their “contests”.
The only disadvantage now is, that it takes me longer to built up a large account to trade higher position size (what means more profit).
But if someone trades profitable (in general), why should he make money on a kind of detour like with a prop.firm?
I wouldnt do that.
Do you have a $100k-$300k account (FTMO) to trade with?
Plus if you pass the challenge you can invest your profits into your personal account and grow that faster, you can even make your personal account a spreadbettjng account to avoid taxes. No brainer to me.
Yeah all the best, maybe give a wee update on this thread and let us know how its going?
Thank you. August isn’t going so well for me. No clear trends yet. But I will continue pushing. Have you taken a plunge yet?
Im doing the FTMO challenge, starting 31st August.
Well, I think social trading is a good option for many traders to get acquainted with investors from around the world. MOYOTRADE offers automated signal copying and offers prop trading through its platform. check it out
better option could be to join social trading platform like MOYOTRADE and let people follow your trade without any hassle. Atleast traders here have no liability as investors are copying trades not giving them account to trade.
Newbie looking for help. I have recently learnt about stop loss. I know how helpful it is in limiting losses. But what I can’t figure out is if I should use it in all my trades or only in those which I am not sure about.
Use it on every trade.
My advice is to learn the basics of trading and trade on your own. Put in little money, you’ll eventually be in a better off position than if you go for any of the schemes. Just practice and trade.
Put in little money like 500 USD with a leverage of 1:500 and blue blow it up sooner or later. You are better off with more money to trade in Forex with and lower leverage like the professionals do it.
How has it been so far? It’s been a while I came here. I had a lot going on!
Anyone here who trades in a prop firm? Can you guys customize your challenge rules? Just wondering if there are other prop firms who does it. Just checked Traders With Edge and they are looking awesome, customizing accounts and instant funding. Any thoughts?
I have tried Traders With Edge, they have so many great stuff on going. What I love about them is the ability to customize your challenge accounts. You have an option where you can customize your drawdown, leverage and even increase your profit split. And of course their Instant funding accounts. have tried others as well. competition in the prop firm is tough
Hey ,im funded with TFF,MFF,E8 and FTMO . Every one of them has pros and cons but the most important is that everything is completely legit and there was never issue with the payouts .
Let me give you a different perspective from the top-down at institutional level, 92% of traders fail when the benchmark is $1 profit, 99.8% fail when the benchmark is to create a income stream replacing a job. None of these prop firms have their own inhouse platforms, none of these prop firms have their own inhouse knowledge content.
I have been speaking with crypto “hedge funds” that wanted to use our automated arbitrage system ArbXT, the problem is that all those firms should be investigated, they are actually proprietary trading firms pulling in investor capital and then passing that capital to third party non-affiliated traders, those traders will bear unlimited liability because they are trading investor capital, the investors don’t know because they would never sign up to those conditions, the traders don’t know it because very few would sign up to those conditions.
We cannot touch that capital nor let anyone use our discretionary fund platform or arbitrage platform under those conditions, traders have to be pulled in to our eco-system which means they have to use our systems, our processes, our methodologies, our knowledge base. The key question is once you move above 92% and make any type of profit, are the funds you receive to trade actually investor capital without the investors being informed in the prospectus, agencies like the SEC are cracking down on these, over the past few weeks only one of the 14 crypto funds interested in the arb system actually were run correctly.
If you start trading investor capital, knowingly or unknowingly, via a prop firm and you lose capital or even miss targets these days, there are going to be some unhappy people backed up by regulators, be careful, valid opportunities will either allow you to keep 20% of profits because running profitable systems is expensive or 100% of profits while training you as a trader, fund manager, analyst (the 100% is basically your salary).