Hi guys,
so I was wondering which manual strategy or EA do you suggest to pass challenges and get paid through prop trading firms such as myforexfunds?
Also we could discuss and create strategies that could help being successful there.
Greetings
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| Prop Trading - get funded & paid https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=6284 |
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| Author: | iCoinz [ Wed Nov 09, 2022 11:35 am ] |
| Post subject: | Prop Trading - get funded & paid |
Hi guys, so I was wondering which manual strategy or EA do you suggest to pass challenges and get paid through prop trading firms such as myforexfunds? Also we could discuss and create strategies that could help being successful there. Greetings |
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| Author: | HannesJoubert [ Wed Nov 09, 2022 3:46 pm ] |
| Post subject: | Prop Trading - get funded & paid |
Hi iCoinz... Not sure if this has Steve's blessing, but, if it does, I will share what it is that I am attempting at the moment...but prop firms seem to be legit, and levelling the playing field for the retail traders.... A bit of advice though, this forum is a sharing forum, and usually, you get out what you put in...so perhaps share what it is that you have been up to? But, let's wait for Steve, and take it from there... H |
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| Author: | SteveHopwood [ Wed Nov 09, 2022 8:48 pm ] |
| Post subject: | Prop Trading - get funded & paid |
I have only done some brief research into prop firms. It strikes me that if you can trade then you do not need them. If you cannot trade then they will not take you on. So what I am saying here is, I do not care. I read every post at SHF and will leave this thread alone unless anything appears 'dodgy'. We all know what happens after that.   |
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| Author: | eaymon [ Wed Jan 11, 2023 10:15 pm ] |
| Post subject: | Prop Trading - get funded & paid |
Hey all, So here is my 2 cents on prop firms... I tried to start my own (like many things  ) and i've passed accounts as well as failed many...
overall I found out how shady it all is.about you doing a prop firm challenge 1.) going for prop firms instead of your own capital could be a good option where you are forced to be more stricter with your rules, and you're technically only risking 200-1k and not a 5k,10k or more of your own money. 2.) If you know how to trade or read the market, you still might fail at prop firms due to their rules( tight limits), your mindset or can't manage funds at a certain level. 3.) multiple stages can be hard to manage especially if your strategy depends on seasonal tendencies 4.) Lets say you pass all the stages most traders lose their funded account with the first 6 weeks 5.) careful buying software for 'prop farming' most are just martingale gold bots you can pick up for $35 from some clone software store. 6.) I am yet to see software that will consistently do 10% a month without hitting 5%/10% dd 7.) You can have the best strategy in the world but mindset is huge factor and there isn't a course or software to fix that ( by design?) about prop firms themselves.. 8.) All prop firms make more money on the challenges than the shared profits. 9.) when I was running a prop firm one 1 in every 30 people would complete both stages (and it wasnt on the first attempt) 10.) Using the exact same strategy, software or copier can lead to you losing your account, one of my customers had several accounts and was profitable for over 4 months and out of nowhere FTMO cancelled each one. 11.) you are at their discretion and there is definitely some manipulation 12.) most prop firms if not all... never send your trades to the market it's all demo trading. 13.) Which means if you are profitable and making withdrawals they pay you from the profits of selling challenges not trading profits. The brokers were willing to give all of the profits from trading income to me because the challenge revenue was that lucrative. Now if you know how to play the game and profit from them, go for it! Milk them as much as you can but it might not be forever, collaborating one a shared community way to pass will get killed by the prop firms and most importantly working on your mental management is critical! Eaymon |
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| Author: | eaymon [ Sun Aug 06, 2023 9:05 pm ] |
| Post subject: | Re: Prop Trading - get funded & paid |
please dont post 'scare ware' post without a real understanding on whats going on. a mortgage loan officer, forex brokers and US based funds do not fall in the same category as these Prop Firms. US traders can do these fake prop firms all they want. The Terms and Conditions state they are only 'demo trading' for the ones that i've checked. I relate most prop firms to casinos... some people make money... most lose their challenge fee and have a gamblers mentality to get back in and "win this time", overall the house always wins. Nothing that these fake prop firms do is illegal:
its not illegal, i do feel its unethical though... and if you are smart enough, skilled enough to game the system and win against the house.. why not? |
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| Author: | SteveHopwood [ Sun Aug 06, 2023 11:36 pm ] |
| Post subject: | Re: Prop Trading - get funded & paid |
This stuff is waaaaayyyyy outside what SHF is all about. This thread is locked and any attempt to resurrect it elsewhere in SHF will land the poster in deep trouble. |
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