Reddit Posts
Any good crypto prop trading firm (that can teach you how to trade efficiently TA signals etc )?
Passed the FTMO challenge(free trial) in 43 trades, what should i do now?
TradeOurCrypto dot com | PRIVATE Sale & Whitelist is LIVE | KYCed and Audited by PinkSale | Registered Business ( in EU ) with Solid Business Model | First Sale Filled Super Easy | Now This is Your Chance !
Mentions
If I could start over, I’d get into prop firms way sooner. I burned through way too much of my own money trying to learn, and honestly, it just added a ton of stress. Trading with firm capital protects your own cash and also forces you to actually follow solid risk management. Losing personal funds wasn't too good experience, but it is what it is. Btw I trade with FTMO, FundedNext and for crypto I use HyroTrader and Breakout. All of them are pretty solid.
FTMO is a legit prop firm for crypto trading. Spreads and commissions are fair for crypto i guess, and they provide verified account statements, which can be useful for documents like visas. The key is to follow their risk rules carefully haha.
Bro I’ve been in since 2017 and I’m max funded with FTMO and 5ers .
Yes trading crypto can work, it’s just not that easy. Bots that you buy unlikely - the prices often move where you didn’t expect - 60k to 16k for example. The thing is you can trade in both directions too. But it’s a long road to profitability. Look at babypips.com free trading courses for the basics. Very good course, mostly forex but exactly the same principles. Also to whet your appetite, look at prop firms like FTMO, open a demo account, and give it a go. They allow BTC as an option, and will give you a large account for a small fee to trade once you are profitable. (You will probably crash and burn which is how they make money, but if you’re good enough it definitely works. )
Use FTMO to trade their Bitcoin index, they have very low fees.
Great question. Tradfi prop firms actually aren't required to be licensed because in this business model, we only sell users demo trading packages and fund the qualified traders. There is no user deposit. In other words, the real-money trading involves the firms' money, not the users' funds. However, in recent months, it was discovered by the authorities (from US & Canada) that some of the questionable tradfi prop firms deceived their users when they claim that they fund the qualified traders. All their so-called "funded" activities are demo trading. If you'd like to know more about this, you can search for the case of "My Forex Funds fraud". That's not to say that all tradefi/forex prop firms are fraud, as there are some very legitimate and reputable names such as FTMO, The5ers, TheTradingPit, etc. In the coming months, we expect that the relevant authorities will push for clearer regulation in this segment. From our point of view, the liquidity and nature of crypto markets allow us to bring greater coverage and transparency to our funded traders. It's a win-win relationship between us and our users, unlike some ugly complexity which might be hidden in some forex prop firms. In terms of legal status, for the time being, we are only serving users in the countries where our liquidity partners aren't prohibited. This excludes dozens of countries, including the US. In the future, we plan to add integration with decentralized exchanges and/or US-regulated centralized exchanges so that we'll have a more universal reach. Hope that answers your question and thanks for taking your time to join our AMA.
Forex via Prop firms like FTMO. There’s some hoops to jump through but starting out with 100k account is pretty sweet.
Damn you can lend me 600 so I can do an FTMO trading challenge?😂
You don't need to "time the market" to know that crypto, like all other manipulated markets, has both accumulation and distribution phases. This isn't any type of god sent pattern, or even anything new, it has been known about the financial markets for over 100 years, since its fundamental to how they work. Price remains efficient as it moves, so simply knowing you are in a "distribution" stage, or as you probably know it, a "bear market", doesn't allow you to "predict the next move", since short term PA can place you in significant drawdown, even if the long term bias remains bearish. Anyone who held shorts from anywhere following ATH would've been in profit, and since this is a distribution, the majority of shorts from any lower highs following distribution would've experienced little to no drawdown. The same cannot be said of long positions, since these are favorable in a bull market, ideally from higher lows. If your next question is "are you a billionaire", the answer is no, but I am an FTMO funded trader, and a full-time one at that, so I hope my answers been useful to you.