The Prop Journalist

@PropJoshD They publish the average reward by account size on their website. Correct me if I'm wrong, but they don't seem unreasonable? Would suggest payouts mostly come from smaller accounts overall.

Let’s assume all the data ftmo posted is correct, but also my assumptions across over 2 million data points is also correct. It would mean that FTMO on top of having the lowest average payout size on two phase balance based also has the highest density of losing traders of any prop firm ever. Even in the peak of prop no one had this kind of margin. (Can calculate this based on the 10,000+ traders paid datapoint). The industry has been around long enough and enough data has been circulating that these statistical data points hold true. They are also used as indicators for whether a firm is healthy or not. If average payout spikes you can assume you are being hit by a cheater group as an example and start a thorough audit. So yeh, I stand by my request for them to publish on propfirm match and if I am proven wrong I will gladly eat my hat, apologize and never say anything about them ever again.

An email has been rolled out with an update to users who were inside our database. The recipient list has a lot of people, so emails may go into the spam folder. It will take some time to reach everyone’s inbox so please be patient. We look forward to providing more updates soon.

It appears the post showcasing our group copy trading detection ruffled some feathers. Traders are now wondering if they are allowed to stream their trades live or trade with their favorite live streamer. Time for another thread. I guess this is my life now 🧵

New communication from @MyForexFunds: To our beloved MyForexFunds Family, Its been a long time and once again I want to thank everyone from the bottom of my heart for their patience, trust, faith and support over the last 2 and a half years. It is now time to get down to business. If you recently saw my video I mentioned that one of our first orders of business is settling what we owe to the traders who have requested payouts in the days leading up to the sudden closure. We will be doing this - so if this applies to you, and you have already requested a payout, please keep your eyes peeled on your inbox. We have a few legal and logistical things necessary to be completed, such as the setup of payment vendors, before we can start the processing of these payouts. We will update you in due time and reach out to confirm details and make sure everything is done properly. Following the legal setups and getting these payments cleared, we will move onto the next step which is separating the charge-backed accounts from the non-charge backed accounts. Once this is done we will then start reviewing data regarding the state of each account at the time of closure. We have the intent and will do our best to provide payouts to legitimate users who were close to due and had positive equity. Currently, this would be considered positive equity 1 or 2 days prior to closure due to a data constraint. This process will take time and require us to finish vendor set up for servers, dashboards etc. to crosscheck everything we have. Please refrain from sending us anything regarding your account until we request it. We need to rely on existing data sources first to build the picture before we look at any external data sources. As we have mentioned publicly, there were some issues with maintaining servers, email accounts, and other data storage during the shutdown as bills were not paid by the overlooking authority or there was confusion in the process. We are working our best on resolving this, right now we can say that we know who our customers were and what account type they had and we are working on the rest. Again, we appreciate your patience on this. Once the above is rectified, we will then provide further insight into what the plans are for everything else. We know this doesn't answer all questions, but we will get to answering everything when we can do so with 100% surety. We know you will continue being patient with us as we untangle the mess that was caused by the unnecessary and wrongful shutdown of our MFF. Updates will come as soon as we have them. We are looking forward to receiving our great community and bringing trust back to the industry. Sincerely, Murtuza Kazmi FOUNDER MYFOREXFUNDS

So in the end path to live isn't used to make money for firms (because that's pretty much impossible with the current model). Instead, it's used as a stop out to prevent prop-profitable traders from bankrupting the firm through sim funded accounts.

Higher barrier to entry, longer evaluation models could potentially solve this. But they're not as attractive because lower volume means lower revenue for the firm. Retail traders prefer the fast pace setup too.

It's crazy that these are the 'successful' futures prop traders. They managed to pass the challenge. They earned consistent prop payouts. Yet still 95% of them blew up once moved to live. And people still expect firms to make money with a-booking?

A month or so ago I wrote about the prop model and cash flow. The cash flow fix might lower sales short term but it will bring you sustainability if you are doing your job right. The fight for market share was a miscalculation on the part of inexperienced guys chasing money. Prop doesn’t look anything like it used to. It used to be so simple because things made mathematical sense. There are very few models now that are as good as the original, and even the new models are torn to shreds by the cash flow issue. Think longer term

The full thread is definitely worth a read x.com/ajtradinglucid…

Very interesting stat from @ajtradinglucid 95% of traders that choose path to live blow up Is this more or less than you expected?

Account Churning- How it impacts the Futures Prop Industry and how it impacts YOU! youtube.com/watch?v=QS-dYJ…

@trades_sage This is in place with some firms, on top of sales commissions

It’s time for a new affiliate model in prop trading. Affiliates should get paid when their followers actually succeed not just when they buy challenges. Pay affiliates a % of payouts earned by their traders, not a % of sales. Aligned incentives > churn marketing. Who would support this?

@This_Oti @MeetMattL Yes 15% consistency is ridiculous

@PropJournalist @MeetMattL Some firms have 15% consistency rule. That’s devilish

Consistency rules are the worst thing to happen to the prop firm industry since My Forex Funds closing.

@myhilldull I think props should have to share pass and spending rates like how brokers currently have to share how many traders lose money. But the problem isn't inherent to prop, it's just most retail traders are unprofitable. The strict prop rules just amplify the chance of losing.

@PropJournalist Only 0.1% reach payout. Most are affiliate shillers and keep buying accounts. If only props added a column that shows how much spent and total payouts...props would not sell.

A prop firm challenge is a huge multiplier for profitable traders. With the same return you'll earn so much more from a prop firm. E.g. 440% true return $100k account -> $8k payout $500 personal -> $2.7k + You still have $10k of prop drawdown to earn from risk-free