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There is an old guy with a long experience in trading on Twitter who talks about Propfirm with some hatred and envy and compares it to his generation.. and his time was the standard.. of course he is jealous because this generation has the best that did not exist in his time
Don’t be mad with him think what he had to endure to be in this game the sacrifice the years of losing money trying to figure it out to pave the way and keep trading viable fighting against greedy people and innovation to keep retail traders alive not to have this system to be horded by the rich and older generations that wouldn’t pass down knowledge like this generation being called crazy put out of houses living pinching pennies trying to break into this market that what I did and I’m 40 it ain’t an easy road yall should be grateful to have not to go through these things and at home in my day it was a limited amount seats and you had to go out in the world and compete putting it all on the line had dress right talk right move right and out perform thousands now all you have to do is turn on your computer and if u lose it not a walk of shame for all your peers to see it just shut off the computer and go on with your rest of the day back 20-30 years ago it was what u did all day 9-5 opening bell to close so don’t be mad it took a lot of shots on the chins of order people for this market to even exist today
I was starting out right as the pits were closing so I got a few years of that experience which I wouldn't want to be without. I have been on institutional buy side and retail. But I would not dream of having sour grapes towards other traders for being good at getting edge in the system as is today. Im still on this ride with you,had highs and lows and I am enjoying the innovations in the marketplace where people that get by by their wits earn money. Good video bud and I lift my methaphorical glass to you ! If you're in the markets ,no scammer and an all in good faith market participant I have nothing but good vibes and love towards you when all is said and done.
Nice video Jesse and I agree. They’re bitter because we have a much better opportunity to learn and earn with less stress and risk. I’m Gen X and I’m a little jelly that I didn’t have it as good early on, but I’m definitely no bitter boomer.
What I don't like about MFF is that they do not allow micro-scalping. They require the trader to hold the contract for a minimum number of ticks or time. However, they do not have an objective rule mentioned anywhere on their website. It is very subjective.
I've only used Topstep so I haven't heard about the hybrid model, but it makes sense if sim funded does get regulated out eventually. They still need a way for the users to make money before getting to live funded.
Great video. I think the hybrid model would be good. I’m not liking so much the idea of a monthly competition that you have to pay to enter instead of buying an evaluation acct. I feel like that’s more like a lottery.
@@EricMeyer-hs3ce I love that hybrid model! The competition model is just competition against other traders so it’s skill based. I would think of it more like poker tournament instead of lottery where there is no skill in lottery. Glad you like the video!
I think the multiple accounts will fade away and end up at 1 account as well as the size of accounts will be smaller or just one available. Prop firms can serve their purpose to the public with one account and a small one at that. The multiple accounts is a money maker for the props, selling a dream for most traders and a big money bag for a few.
If it goes to one account and it’s small then it’s crap let’s be honest. They will have to offer larger accounts for those who used to trade 5-20 accounts.
@@TradingWithJesseW CME wants that volume in their real markets. If props are there to lessen risk while learning and to fund a personal brokerage account, it doesn't take much to do that. Topstep alone has more NQ trading volume than the live market, albeit mostly from nonprofitable traders. That trading volume wouldn't translate to the same numbers in the live market cause people will trade a lot more cautiously within a brokerage account than a prop. If your trading with large size, its an indicator you can trade profitably, that volume should be in the live market. Once a prop firm takes you live, then they should be increasing buying power.
11:46 We would be very interested in a list of these futures prop firms we can look into and research that add additional capital in other words back you with their own capital. I heard John say so in one interview. I think I heard Merritt say so in one interview. Who else? Your list of model possibilities is good. Some other model possibilities include, but are not limited to: Say no to the CME, we're switching to trading Eurex or ICE US or ICE EU. Pass the eval/challenge/combine and we'll sign with you a Limited Power Of Attorney to trade a Separately Managed Account (SMA) at a FCM like Interactive Brokers. This model may require you becoming a Commodity Trading Advisor (CTA). ITPM does a model similar to this. I believe Joom intends to do a model similar to this.
I have one firm that might be doing that sometime next year but not allowed to mention them in connection to that yet. Great point about the other possible options! Thanks for sharing!
When you go to a live account for a prop firm? Yes because you are trading their $ and the exchange now sees you as a professional trader managing someone else’s $
How else would firms "hire" individual contractors to get work done. They would need work history, or finished products to view or a simulation in a controlled environment. So a bridge builder could put his ideas in this simulation,... and if the bridge fails, you could evaluate it, and fix the problem. And the ones whos bridges last and pass, obviously should be building bridges for them. And sometimes things happen, like floods that wash a bridge out. Guess what, they rebuild
Yep. It’s due to a lack of actual liquidity. It would ultimately be better for everyone if we all traded in the live market because the more liquidity there is, the easier it is to get in and out of positions with larger amounts of contracts. The drawback with live accounts and trading on them with prop firms is the fees. Since you’re trading for a firm (technically), you’re considered a professional trader once you are in a live account. Which means you have to pay a $200/month fee to receive data from the CME. Whereas if you had your own account with say $5-10k with amp futures, ninjatrader, edge clear, or whatever brokerage you choose, you’re not considered a professional and don’t have to pay those high data fees. You also don’t get the same tax advantages trading live with a firm as you do in your own brokerage account. If you’re trading live with a firm, you’re just a straight 1099 contractor. And there’s no tax benefit there. There’s also the profit split with prop firms. When you’re in your own brokerage account, you keep all your profits. The only real upside to prop firms is that you don’t need as large of an upfront investment. Which everyone knows about. But once you save up enough money, the goal is always to put it into your own account and trade with that. But again, the more liquidity there is in the live market, ultimately the better it will be for everyone who actually trades it. Which is why the CME cares so much. Hope that helps
@@TradingWithJesseW Five 150k accounts = 750k but those charging activation fees get 5x$ by doing it that way. Personally, I favor higher initial costs and No Activation Fees (if they really want to attract Live traders instead of eval customers).
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✅1 Day To Get Funded!
✅Stop Trading Your Own $
✅Use code JESSEW Deepest Discount
✅ Click👉 bit.ly/apextraderjw
🤑My Funded Futures
✅No Activation Fee
✅Direct To Live Path
✅Click here bit.ly/myfundedfuturesjessew
✅Use code JESSEW Deepest Discount
🤑Rather trade w Take Profit Trader?
🚨Fastest Payout Policy
✅Stop Trading Your Own $
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✅Use code JESSEW Deepest Discount
🐂 Direct To Funding Use Code JESSEW for the deepest discount available purdia.com/?i=jessew
great video very informative
Glad it was helpful! And thanks for the support :)
There is an old guy with a long experience in trading on Twitter who talks about Propfirm with some hatred and envy and compares it to his generation.. and his time was the standard.. of course he is jealous because this generation has the best that did not exist in his time
thats the guy so full of hate in his x posts its insane!
If he took care of himself and let people make money, it would be better for him.@@TradingWithJesseW
Don’t be mad with him think what he had to endure to be in this game the sacrifice the years of losing money trying to figure it out to pave the way and keep trading viable fighting against greedy people and innovation to keep retail traders alive not to have this system to be horded by the rich and older generations that wouldn’t pass down knowledge like this generation being called crazy put out of houses living pinching pennies trying to break into this market that what I did and I’m 40 it ain’t an easy road yall should be grateful to have not to go through these things and at home in my day it was a limited amount seats and you had to go out in the world and compete putting it all on the line had dress right talk right move right and out perform thousands now all you have to do is turn on your computer and if u lose it not a walk of shame for all your peers to see it just shut off the computer and go on with your rest of the day back 20-30 years ago it was what u did all day 9-5 opening bell to close so don’t be mad it took a lot of shots on the chins of order people for this market to even exist today
@@TradingWithJesseWwho is it
J you are killing it with your videos lately! Loving the channel!
🫡🙌🏼
I was starting out right as the pits were closing so I got a few years of that experience which I wouldn't want to be without.
I have been on institutional buy side and retail.
But I would not dream of having sour grapes towards other traders for being good at getting edge in the system as is today.
Im still on this ride with you,had highs and lows and I am enjoying the innovations in the marketplace where people that get by by their wits earn money.
Good video bud and I lift my methaphorical glass to you !
If you're in the markets ,no scammer and an all in good faith market participant I have nothing but good vibes and love towards you when all is said and done.
Same here bro! Nothing but love for those of us trying to do our best! Thanks for watching! Hope to see ya in future comments ;)
@@TradingWithJesseW sure thing my guy:)
What I needed to hear right now. 👍👍 Thanks for updating the space, bro
Any time!
brother this video came out better than i thought
ty bro!!!
Nice video Jesse and I agree. They’re bitter because we have a much better opportunity to learn and earn with less stress and risk. I’m Gen X and I’m a little jelly that I didn’t have it as good early on, but I’m definitely no bitter boomer.
What I don't like about MFF is that they do not allow micro-scalping. They require the trader to hold the contract for a minimum number of ticks or time. However, they do not have an objective rule mentioned anywhere on their website. It is very subjective.
interesting first i hear of this.
Obviously it's not in their interest that you go max position for a few ticks of profit in an instant.
They’ve denied payouts because of this.
I've only used Topstep so I haven't heard about the hybrid model, but it makes sense if sim funded does get regulated out eventually. They still need a way for the users to make money before getting to live funded.
And the firms themselves need to make some $ to so their offerings to the public have to remain attractive
Deja vu' ... swear we have this conversation every year come holiday season.
Yeah? I don’t remember this being a topic last year. Was it as wide spread as now?
@@TradingWithJesseW it was only talked about for Forex prop firms. Because of all the scammy firms that were out there.
Great video. I think the hybrid model would be good. I’m not liking so much the idea of a monthly competition that you have to pay to enter instead of buying an evaluation acct. I feel like that’s more like a lottery.
@@EricMeyer-hs3ce I love that hybrid model! The competition model is just competition against other traders so it’s skill based. I would think of it more like poker tournament instead of lottery where there is no skill in lottery.
Glad you like the video!
the real question is why is the cme forcing prop firms to do this?
🤔
nice one jesse
Thank you!!🙏🏼
I think the multiple accounts will fade away and end up at 1 account as well as the size of accounts will be smaller or just one available. Prop firms can serve their purpose to the public with one account and a small one at that. The multiple accounts is a money maker for the props, selling a dream for most traders and a big money bag for a few.
If it goes to one account and it’s small then it’s crap let’s be honest. They will have to offer larger accounts for those who used to trade 5-20 accounts.
@@TradingWithJesseW CME wants that volume in their real markets. If props are there to lessen risk while learning and to fund a personal brokerage account, it doesn't take much to do that. Topstep alone has more NQ trading volume than the live market, albeit mostly from nonprofitable traders. That trading volume wouldn't translate to the same numbers in the live market cause people will trade a lot more cautiously within a brokerage account than a prop. If your trading with large size, its an indicator you can trade profitably, that volume should be in the live market. Once a prop firm takes you live, then they should be increasing buying power.
@@stretch34318 lmao topstep does not have more volume on NQ than the rest of the market... thats hilarious
I don’t understand where regulations fit for companies that provide demo accounts.. why they even care
🤷🏻♂️
11:46 We would be very interested in a list of these futures prop firms we can look into and research that add additional capital in other words back you with their own capital. I heard John say so in one interview. I think I heard Merritt say so in one interview. Who else?
Your list of model possibilities is good. Some other model possibilities include, but are not limited to:
Say no to the CME, we're switching to trading Eurex or ICE US or ICE EU.
Pass the eval/challenge/combine and we'll sign with you a Limited Power Of Attorney to trade a Separately Managed Account (SMA) at a FCM like Interactive Brokers. This model may require you becoming a Commodity Trading Advisor (CTA). ITPM does a model similar to this. I believe Joom intends to do a model similar to this.
I have one firm that might be doing that sometime next year but not allowed to mention them in connection to that yet.
Great point about the other possible options! Thanks for sharing!
can you explain to me why a trader has to pay professional data feed fees $160 + a month?
When you go to a live account for a prop firm? Yes because you are trading their $ and the exchange now sees you as a professional trader managing someone else’s $
gee wiz - you mean, retail traders can actually make money and copy trade like the hedge funds and banks? we cant allow that!
🙈
Three years max. he who has the gold makes the rules. We are messing with their money and leaving profits on the table. They will come after them.
The CME destroyed the entire Binary Trading industry. I don't think they care about that.
Did you watch the video? Or just replying to the thumbnail?
I’m telling you I will not do trading competitions. Please, god, no trading competitions.
Contrary to popular belief, trading is NOT a zero sum game.
How else would firms "hire" individual contractors to get work done. They would need work history, or finished products to view or a simulation in a controlled environment. So a bridge builder could put his ideas in this simulation,... and if the bridge fails, you could evaluate it, and fix the problem. And the ones whos bridges last and pass, obviously should be building bridges for them. And sometimes things happen, like floods that wash a bridge out. Guess what, they rebuild
First “old timer” I thought of was Peter Brandt. That dude is biiittttteeerrrr. His X posts are super nasty
yup thats him! Such a hater! And creepy vulgar, cuz you can say some words and it be funny or have meaning but his vulgarity is unbecoming imo.
@@TradingWithJesseW dude hasn't been relevant since his Chapter in Market Wizards and he's trying to stay relevant... Weak Boomer mentality.
They want our money in the market so they can have it, not the prop companies. Black Rock owns Apex so they have the data
These so called prop firms are not prop firms because you are putting your own money in the live accounts
I love prop. 😂 they have to ban me for me to stop.
Hahahaha ditto my dude
@ 🔥🔥👍
we are not in kansas no more 😊
🌪️
The Regulators can shut off the Data
in a day to any Prop firm
Did you watch the video?
50k all day
But if you only have 3 accounts 150k
You already know!
I’ll take 3 of the 250k at least please
Sim can't work much longer. The cost will go to the trader. I've always paid my cme data. Humans are nasty haha.
The cme should just tax the prop firms lol raise the price of evaluations 10 dollars and pay it to the cme to keep them happy
50k
me to along with the 250k ones
Why exactly does the CME care if traders are moved to live… traders are still making money and taking withdrawals
They are not getting the liquidity
Yep. It’s due to a lack of actual liquidity. It would ultimately be better for everyone if we all traded in the live market because the more liquidity there is, the easier it is to get in and out of positions with larger amounts of contracts. The drawback with live accounts and trading on them with prop firms is the fees. Since you’re trading for a firm (technically), you’re considered a professional trader once you are in a live account. Which means you have to pay a $200/month fee to receive data from the CME. Whereas if you had your own account with say $5-10k with amp futures, ninjatrader, edge clear, or whatever brokerage you choose, you’re not considered a professional and don’t have to pay those high data fees. You also don’t get the same tax advantages trading live with a firm as you do in your own brokerage account. If you’re trading live with a firm, you’re just a straight 1099 contractor. And there’s no tax benefit there. There’s also the profit split with prop firms. When you’re in your own brokerage account, you keep all your profits. The only real upside to prop firms is that you don’t need as large of an upfront investment. Which everyone knows about. But once you save up enough money, the goal is always to put it into your own account and trade with that. But again, the more liquidity there is in the live market, ultimately the better it will be for everyone who actually trades it. Which is why the CME cares so much. Hope that helps
Eliminate copy trading but offer larger size accounts. Eliminate multiple accounts except for trying different systems or different markets.
I think they can still do good with 2-4 accounts and everyone is happy. Or offer like you said a very large account 500k etc
@@TradingWithJesseW Five 150k accounts = 750k but those charging activation fees get 5x$ by doing it that way. Personally, I favor higher initial costs and No Activation Fees (if they really want to attract Live traders instead of eval customers).
Stop going on with some of the nonsense.....
?