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Most Funding Firms are a Scam


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Most Funding Firms are a Scam

  #51 (permalink)
RedMoney
Seattle, Washington USA
 
Posts: 8 since Apr 2022
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best to just save up as much money as you can then trade with your own money

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  #52 (permalink)
Please
Baltimore, Maryland
 
Posts: 3 since Jun 2022
Thanks Given: 2
Thanks Received: 1

Hi,

This is my first post on this forum. I've given both Apex and Leeloo a try thus far and have failed. Many accounts having literally failed in profit due to the trailing threshold. However, I feel I've got the game down pat now, and my last two accounts have failed due to some serious lag/slippage in my user enabled stop loss on Leeloo/Rithmic not being executed in a timely manner. For instance, the last account I was working on, I was nicely in the profit after just the first day of trading, I think the 100K account was up to around 101600 or so. I upped my user-enabled stop-loss on Rithmic to 101171 or there abouts. Come to find out the combination of lag in Rithmic/market data didn't execute my stop loss til about 99300 or so ! This left about $400 between that and my moderator stop-loss due to the trailing threshold.

This is literally the second account in a row with Leeloo that failed due to this issue. Each time support says the same thing, to download an add-on and test the lag. Funny thing is the lag was fine when I checked it after downloading it, but seems to kick up at the most inopportune times. But literally two accounts blown that were well into the profits because my user enabled stop-losses failed to trigger? Seems rather suspect if you ask me?

So I can sympathize with the original poster in regards to most of what is written except the ghost orders, that I've never seen. If he's using a bot or program than that's most likely the cause of the issue.

But needless to say, after going through this thread, I'm still hopeful to gain funding some day soon, and I'm eyeing other firms that seem to have good reviews and a more manageable end of day draw down vs. a real-time tick trailing threshold on open positions. After costly lessons with two prop firms and doing more due dilligence, I'm leaning towards uprofittrader.

It's just hard to pay yet more money out on this journey only to have Rithmic/data lag not read my user-enabled stop loss in time again.

Is there anyone out there that can relate to what I've experienced and is there anything I can do to fix these sporadic lag/data issues with Rithmic data feed or is the original poster on to something thinking there's a relationship between these prop firms and Rithmic systematically failing at the most opportune times?

Respectfully,
1st time poster and hopefully a long-time futures trader once I get this ball rolling and get with the right prop firm

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  #53 (permalink)
nikto
Düsseldorf , Germany
 
Posts: 85 since May 2016
Thanks Given: 92
Thanks Received: 60



Please View Post
Hi,

This is my first post on this forum. I've given both Apex and Leeloo a try thus far and have failed. Many accounts having literally failed in profit due to the trailing threshold. However, I feel I've got the game down pat now, and my last two accounts have failed due to some serious lag/slippage in my user enabled stop loss on Leeloo/Rithmic not being executed in a timely manner. For instance, the last account I was working on, I was nicely in the profit after just the first day of trading, I think the 100K account was up to around 101600 or so. I upped my user-enabled stop-loss on Rithmic to 101171 or there abouts. Come to find out the combination of lag in Rithmic/market data didn't execute my stop loss til about 99300 or so ! This left about $400 between that and my moderator stop-loss due to the trailing threshold.

This is literally the second account in a row with Leeloo that failed due to this issue. Each time support says the same thing, to download an add-on and test the lag. Funny thing is the lag was fine when I checked it after downloading it, but seems to kick up at the most inopportune times. But literally two accounts blown that were well into the profits because my user enabled stop-losses failed to trigger? Seems rather suspect if you ask me?

So I can sympathize with the original poster in regards to most of what is written except the ghost orders, that I've never seen. If he's using a bot or program than that's most likely the cause of the issue.

But needless to say, after going through this thread, I'm still hopeful to gain funding some day soon, and I'm eyeing other firms that seem to have good reviews and a more manageable end of day draw down vs. a real-time tick trailing threshold on open positions. After costly lessons with two prop firms and doing more due dilligence, I'm leaning towards uprofittrader.

It's just hard to pay yet more money out on this journey only to have Rithmic/data lag not read my user-enabled stop loss in time again.

Is there anyone out there that can relate to what I've experienced and is there anything I can do to fix these sporadic lag/data issues with Rithmic data feed or is the original poster on to something thinking there's a relationship between these prop firms and Rithmic systematically failing at the most opportune times?

Respectfully,
1st time poster and hopefully a long-time futures trader once I get this ball rolling and get with the right prop firm



Which platform do you use ? R Trader is the worst choice , untradeable in volatile situations. My experience is that e2t has the best slippage. i place limit and stop at the same time in uprofit and e2t , 1 tick slippage with e2t and 7 ticks slippage with uprofit.

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  #54 (permalink)
Please
Baltimore, Maryland
 
Posts: 3 since Jun 2022
Thanks Given: 2
Thanks Received: 1


nikto View Post
Which platform do you use ? R Trader is the worst choice , untradeable in volatile situations. My experience is that e2t has the best slippage. i place limit and stop at the same time in uprofit and e2t , 1 tick slippage with e2t and 7 ticks slippage with uprofit.


Yes it was using R Trader Pro for the data feed with NinjaTrader 8.

I am seriously considering e2t so I appreciate your response. Are you using Rithmic Pro/Ninja Trader 8 with e2t?

And have you graduated to a live funding account with e2t? And if so, can you let me know what the initial setup cost is in doing so? My only concern is the data exchange fees but everything else seems pretty straight-forward to me.

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  #55 (permalink)
Slade9
Hürth + Germany
 
Posts: 15 since Feb 2020
Thanks Given: 12
Thanks Received: 19


Please View Post
Yes it was using R Trader Pro for the data feed with NinjaTrader 8.

I am seriously considering e2t so I appreciate your response. Are you using Rithmic Pro/Ninja Trader 8 with e2t?

And have you graduated to a live funding account with e2t? And if so, can you let me know what the initial setup cost is in doing so? My only concern is the data exchange fees but everything else seems pretty straight-forward to me.

You can use your own Datafeed and only use the rithmic one for execution. So instead of paying 210$ per month (105$ per exchange) I only pay for the Denali Exchange (Sierra Chart), which is way cheaper.

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  #56 (permalink)
nikto
Düsseldorf , Germany
 
Posts: 85 since May 2016
Thanks Given: 92
Thanks Received: 60


Please View Post
Yes it was using R Trader Pro for the data feed with NinjaTrader 8.

I am seriously considering e2t so I appreciate your response. Are you using Rithmic Pro/Ninja Trader 8 with e2t?

And have you graduated to a live funding account with e2t? And if so, can you let me know what the initial setup cost is in doing so? My only concern is the data exchange fees but everything else seems pretty straight-forward to me.

I use Sierra Charts, the platform works well with Rithmic. Yes i past the gauntlet but i select the Live Sim because of the End of Day Drawdown. There is no coast for Live Sim.

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  #57 (permalink)
nikto
Düsseldorf , Germany
 
Posts: 85 since May 2016
Thanks Given: 92
Thanks Received: 60


Slade9 View Post
You can use your own Datafeed and only use the rithmic one for execution. So instead of paying 210$ per month (105$ per exchange) I only pay for the Denali Exchange (Sierra Chart), which is way cheaper.

Thank you very much for this information.

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Last Updated on July 1, 2022


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