Any long term success stories from funded traders in these get-funded programs? - futures io
futures io



Any long term success stories from funded traders in these get-funded programs?


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Howard Roark with 82 posts (100 thanks)
    2. looks_two phantomtrader with 23 posts (54 thanks)
    3. looks_3 bobwest with 16 posts (49 thanks)
    4. looks_4 MR79 with 16 posts (27 thanks)
      Best Posters
    1. looks_one bobwest with 3.1 thanks per post
    2. looks_two phantomtrader with 2.3 thanks per post
    3. looks_3 MR79 with 1.7 thanks per post
    4. looks_4 Howard Roark with 1.2 thanks per post
    1. trending_up 19,109 views
    2. thumb_up 358 thanks given
    3. group 33 followers
    1. forum 209 posts
    2. attach_file 17 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

Any long term success stories from funded traders in these get-funded programs?

(login for full post details)
  #201 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
Thanks: 109 given, 44 received


Howard Roark View Post
Honestly, if you're consistently profitable since May and that continues until next year, I don't really think there's much for you to learn from those guys. Having a good mentor would be extremely worthwhile for all of us, but my belief is that such a mentor is very hard to find and I do not think he will be found in Apteros or any other firm that's easily available for the public.

I may be wrong, but that's what I believe.

Maybe I'm too cynical, but it's my view that mostly anyone who's offering ME any kind of benefit (teaching, "funding", etc.) in this industry simply wants my money. Until I see any substantial proof otherwise - that's what I believe.

Good point!
You could probably be right about that. I will wait and see how things go and then position myself accordingly.




Howard Roark View Post
In July, they told me that 'in the coming weeks we will have an entity in place to take on non-US traders'.

You might want to check it out again.

In fact, I may do so myself as well.

Ok, that sounds interesting, I'm curious to see how it develops there.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
The following 3 users say Thank You to MR79 for this post:

Can you help answer these questions
from other members on futures io?
Google Keyword Search Alerts
Traders Hideout
Does anyone have the code for Anchored Vwap to use in Qu …
Traders Hideout
What are the main Eurobond futures and their respective …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Vinny E-Mini & Algobox Review TRADE ROOM
45 thanks
Design a DayTrader Scalping Order Flow Indicator
22 thanks
Daytrading.Coach Review
15 thanks
AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything
9 thanks
The Wheel Strategy on Options
9 thanks
 
(login for full post details)
  #202 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


MR79 View Post
Ok, that sounds interesting, I'm curious to see how it develops there.

MR79

I sent them a new mail. Let's see what they say.

Reply With Quote
The following user says Thank You to Howard Roark for this post:
 
(login for full post details)
  #203 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
Thanks: 109 given, 44 received



Howard Roark View Post
I sent them a new mail. Let's see what they say.

Great! Thank you.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
The following user says Thank You to MR79 for this post:
 
(login for full post details)
  #204 (permalink)
Howard Roark
Oslo Norway
 
 
Posts: 281 since Aug 2018
Thanks: 259 given, 284 received


MR79 View Post
Great! Thank you.

MR79

Basically, you have to deposit your own 'first loss capital'.

The example given to me was that with $25K deposited (which seems to be their preferrable minimum amount, although it's probably negotiable) - they'd let you trade 10 contracts with a $2500 daily loss limit.

I don't think $2500 is a realistic daily loss limit trading 10 contracts, so I would be probably trading a maximum of 5 contracts within that daily loss limit. And with intraday margin - I could easily do that in my own private account instead.

So, at this point, I'm not seeing the benefit of joining such a firm, unless we're thinking long-term and maybe getting the opportunity to actually trade firm capital.

Reply With Quote
The following 4 users say Thank You to Howard Roark for this post:
 
(login for full post details)
  #205 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
Thanks: 109 given, 44 received


Howard Roark View Post
Basically, you have to deposit your own 'first loss capital'.

The example given to me was that with $25K deposited (which seems to be their preferrable minimum amount, although it's probably negotiable) - they'd let you trade 10 contracts with a $2500 daily loss limit.

I don't think $2500 is a realistic daily loss limit trading 10 contracts, so I would be probably trading a maximum of 5 contracts within that daily loss limit. And with intraday margin - I could easily do that in my own private account instead.

So, at this point, I'm not seeing the benefit of joining such a firm, unless we're thinking long-term and maybe getting the opportunity to actually trade firm capital.

I agree with you that under these conditions, at the beginning, it makes no difference whether the own or the company account with your deposit.

From my point of view, it would only make sense if the daily loss limit were scaled up, which would of course also increase the leverage.
Obviously depending on the risk profile, e.g. 20% increase every 2-4 weeks.

That would make sense to me, and I could imagine going this way.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
The following user says Thank You to MR79 for this post:
 
(login for full post details)
  #206 (permalink)
 MR79 
Hamburg Germany
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: AMP
Trading: Futures, Forex(CFD's)
 
Posts: 35 since Jul 2021
Thanks: 109 given, 44 received


TexasMade View Post
The only pro I see about a prop firm such as these is if you're able to pass it in one month without paying any resets and get funded you are now able to have 3k drawdown day for your 250-300 payment to get funded. What wouldnt be worth it is paying for 2 months and multiple resets just to get it.

I absolutely agree with you there,


What I think is immensely important is that you are already reasonably profitable before you join the programme.
Otherwise you are just throwing money away.
But with today's micros, there is almost no reason to participate in such programmes anymore.

MR79

"My only task as a trader is to protect my capital (risk management), the market will take care of the profits."
Reply With Quote
The following 2 users say Thank You to MR79 for this post:
 
(login for full post details)
  #207 (permalink)
 Poosman 
Houston, Texas
 
Experience: Intermediate
Platform: TV, TOS
Trading: NQ, ES, GC, Options
 
Poosman's Avatar
 
Posts: 14 since Jun 2020
Thanks: 68 given, 15 received


canoekoh View Post
Dude avoid Apteros Trading like the plague.

If you wanna know why, search on Elitetrader for the post by someone who went through Apteros (passed eval and was funded). The jist of it is that he experienced a switch-and-bait.

And if only you knew what kind of person Merritt Black is...

I second this advice.

Reply With Quote
 
(login for full post details)
  #208 (permalink)
Phoenixoboros
Paris France
 
 
Posts: 13 since Feb 2021
Thanks: 20 given, 5 received

Prop firm isn't anything I would consider for long term unless it's advantageous tax-wise for you.
The end goal is to funnel the profits from the prop firm split to your own broker account as capital.

Reply With Quote
 
(login for full post details)
  #209 (permalink)
MichaelFlowTrader
Atlanta
 
 
Posts: 148 since Jan 2017
Thanks: 41 given, 107 received


Phoenixoboros View Post
Prop firm isn't anything I would consider for long term unless it's advantageous tax-wise for you.
The end goal is to funnel the profits from the prop firm split to your own broker account as capital.

I'm considering 2 possible prop paths that are both 'first loss' and that require you to make a deposit in the $10,000 to $25,000 range because I want the SIZE for trading spreads/stat arb, and I want the opportunity to venture out into the equities space as well which will take obtaining SIE and Series 57.

The retail prop space with its tryouts are ONLY good if you have a winning strategy where you can apply your edge(s) successfully in a myriad of market states, while abiding by their risk perimeters. It seems like they instead market themselves to losing traders and tell them that it is better to lose reset fees with them than lose money on their own while trading live, while limiting the styles of trading they can use. It is best for undercapitalized winning traders who could use a small influx of cash.

Reply With Quote
The following user says Thank You to MichaelFlowTrader for this post:
 
(login for full post details)
  #210 (permalink)
 MarketMage 
Ponte Vedra Beach + FL USA
 
Experience: Master
Platform: mt4 mt5 NT8
Trading: NQ, YM, and BTCUSD
 
Posts: 16 since Dec 2020
Thanks: 10 given, 3 received


IMO the product value offered by the prop firms is optimal for traders who already have an edge and are at least potentially winning traders, who may just lack capital and/or discipline.

The opportunity can be compelling, it just isnt exactly the same as the marketing spin the firms put on it. When they offer a "$150k account!!!" in all caps, for $400/month, with a daily max loss of $3k, most traders dont realize that in reality they are purchasing a $3k SIM account, and will almost certainly need to pay 2 or even 3 months worth of subscription fees before they pass, unless they use insane leverage, which also plays into the funding firms hands because then they make money on the reset fees anyway and its all in SIM (during the evals), so there is no risk.

So, BEST CASE, traders pay in probably $1200 to receive after passing a $3k (effectively) cash account. Thats still a good deal as its significantly cash flow positive, but then remember that after a "grace" amount you have to split profits with the firm, too, and have to pay for a NT8 license and CME data once funded..

Im just pointing out what everyone should know already - Futures Prop Funding firms can be a good opportunity, but they arent the holy grail of success, they are just a tool that is optimal and a super great option only for a very small subset of traders with a very narrow set of circumstances. If you know you are long term profitable, it makes little financial sense to give away 20% of your profits, and if you ARENT long term profitable, you will never get to a point of cash flow breakeven unless you find your trading niche right quick.

I speak as someone who has passed both steps of the TST 150k combine. I would recommend the experience to traders who lack discipline mainly, but also if cash flow challenged too, but are willing to adjust their own sense of sizing and risk to match the TST program immediately.

Reply With Quote
The following 2 users say Thank You to MarketMage for this post:


futures io Trading Community Trading Reviews and Vendors > Any long term success stories from funded traders in these get-funded programs?


Last Updated on November 27, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts