The TRUTH About Prop Firms in 2023: Worth It or Waste of Time?
ฝัง
- เผยแพร่เมื่อ 31 พ.ค. 2024
- Ever since the MFF situation I have received a crazy amount of messages expressing concerns or worries regarding the prop firm space heres my take on it all.
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Peace and love homies. Thanks for watching & supporting always, Alb. x
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#myforexfunds #propfirms
If you do want to grab a prop firm challenge hit the link or use code "Alb" for a cheeky discount and increased profit split - albertburgess.org/Bespoke
Think about it like this, if you invest $500 into a prop challenge, pass all the stages and get funded, get a $5000 payout then the prop firm shuts down, did you lose anything? No, you made money, the only thing you lost is more potential profit. So there's very big upsides to prop firms and little downside. Especially if you actually know how to trade, if you don't know how to trade then it doesn't really matter if a prop firm shuts down on not because guess what, you were going to lose that account ANYWAY!
Exactly this let’s goo!
Unless you get deliberately slipped through your drawdown limit by a b-book prop firm with a conflict of interest 🤔
For me it's not about losing that money, it's about having the opportunity to grow my personal acc# going the long rout is kinda discouraging
Thanx; your content always fresh and i luv the direct approach; most people want to suger coat it; good shot for throwing it out there; keep it up❤
Love the straight talk! A lot of value in here! Can't wait to diversify in some of the links you have in the description. Very exciting to be working on a future that is bright!
Let’s gooooo we move forward always
Love this, love the video man. You make me laugh too, especially with Charlie haha.
Glad to hear it! Appreciate you
Can you explain why I get so happy when you release a video albie 😂, maybe because I'm sure you are going to give us value, Love from Egypt ❤❤
Hahaha love to hear this man hope the weather is better there than here was 4 degrees this morning 😂
Great video Alb!
Great video. Loved it. 😀
Appreciate it man hope you’re well
Solid + wise words my man 👌
Straight shooting as usual - great video mate!
Appreciate you bro
Straight facts, as always!
Facts man, your 100% right 👏👏👏👏👏
Great video man👌🏽
Thanks dude
Thank you Alb. Big love mate.
Always g
No BS letting us know the truth. Quality content as always mate & great sense of humour 👍
Glad you enjoyed it have a great week
Alb woke up and thought, today you lot are getting it… Happy Sunday Bishhh
Hahaha something like that 😂🙏🏻
Real talk mate 🙏🏻
Lets go
Still one of the best you tube channels out there in my opinion.... AB got me on track. Havn't looked back.
Massive love brother appreciate that hope you’re well
Nice discussion around the reality if props!
The real problem is the scams that are around telling people they will pass and managed your funded accounts when we all know the legit prop firms would never allow that, but there are tons of channel advertising we will pass you challenge or money back etc etc
That’s the real cancer of the industry and needs to be cut out ASAP!!
Yeah man always be something ridiculous happening just have to navigate through it all with logic.
Absolutely LOVE this video!!! About time someone tells the hard truth!!!!! This is the most truest video I've seen when it comes to trading!!!
You're hilarious bro , love the straight up message.
Have to be told straight I learn best way that
Facts Albert 🙏🏽💥
Totally agree. Prop firms provide a great opportunity and its unfortunate there's some shady stuff has taken place, but there's plenty of other firms around. Take the opportunity whilst its there especially as over this last 6 months the bar has been lowered. Big ups Alb
That’s it mate we’d be crazy to ignore it
I'm already funded in FTMO and The5rs, both are great prop firms. I did it using my own EA.
Facts bro! We got to move forward utilise every avenue and run it all up fuck it ahahah people are shitting themselves over a hiccup hands high move forward lol great video mate!
That’s it brother only way is forward
Awesome job again Albi! If it comes to forex, you are my number 1 source of information, thank you for that ! 🤝
Ayy that means a lot g great to hear what about only fans am I second or 👀😂
I took a 5k prop firm account and I blew it quick. I realised that I was the problem and I was just after quick money.
Because I enjoy trading and really want to be a trader because it is a career that also builds u as a person , i decided to dedicate the year of 2023 to backtesting, fowardtesting and making sure that I have enough data so that I can stand a better chance of passing my next challenge account.
There are many other ways to make money and if u really want to be a trader then dedicate ur all to the craft but if u just want money find something else.
Facts!
Great video as always. I know this isnt related to prop firms, but do you think certain strategies work on some pairs and not on others. The strategy i use works well on gold but not so much on EU. Do certain pairs "work" differently than others which affects performance? If so, how do you identify/adapt if market characteristics change? Just need some inputs some advice from a pro trader.
I think definitely so, each pair will have its own characteristics for sure this is of course where testing forward testing watching live markets comes into play along with market cycles it’s an experience and time thing more than anything I’d say
Thanks! Appreciate it.
Brilliant self responsibility
It’s critical
Gaaaa Alb woke up and chose violence today 😂😂😂
✊🏼✊🏼
Sometimes it has to be said brother
Truth!
It's strange to me that many of the influencers criticizing prop firms are the ones that derived the majority of their riches from them. Additionally, individuals who were unable to succeed in passing prop businesses, as you mentioned, take that as gospel in an attempt to make up for their lackluster performance. The MFF case Particularly amuse me since, although all that was involved were allegations, some of the people involved finally had an excuse to avoid taking responsibility because they were unable to act on the opportunity because of a lack of skills or a negative mindset.
And also some unskilled forex traders will think Prop Firm are scam
So you say a prop firm that uses a proper broker like Eightcap or Thinkmarkets cannot manipulate the spreads?I happened to get out of a EU position held overnight price running 22pips above the normal price level on mt4 10pips above my initial sl level causing me lose 3R instead of my normal risk.I asked the prop firm about it and they started shittlalking about spread hours and pointing at eightcap though none of my friends have ever heard about such a slippage or spread on EU even in spread hours.
Every broker has different liquidity providers and different deals with those providers so of course some will differ depending but the fact is props themselves are not doing what mff did having there own broker acting as an lp that was my point, there’s far superior larger brokers out there they’re just not on the prop game.
I can't thank you enough for this video!! I hope this can reach as many people as possible! When you enter the trading field, you should be prepared for ups and downs, but be patient, and it will change your life. I never hesitated while trading, and TFF never disappointed me.
always love the reality check from Alb with a bit of comedy
You know how we do, we're back time to level things up and go hard!
U so bold and I mess with it 😂.
Let’s gooo
BOOM!......There it is!
Three sixty no scope off the top of rust head shot type vibes
Say what..hahaha!@@AlbertBurgess
surely you remember call of duty mw2 haha or am i showing my age @@worthlessman6860
I was like WTF Alby done blew a fuse hehe....naw man don't know it I'm much older...think pacman and the that llittle ping pong thing wheeee! hehe > Love your content bro!@@AlbertBurgess
' stick it up your nose or buy a gucci belt ' gas man so true for a lot of people same kinda person who says trading is gambling 😂
You know them ones man
complete self-accountability is the only way to achieve anything
Facts
A lot of inexperienced traders would have needed to hear this 👏
Only people saying prop firms aren't good have tried and flopped 😂
Facts my bro
That's the fact bro
From personal experience (1.5 years trying prop firms), so far it's a waste of time and money.
Have you tried to understand why exactly dude?
@@AlbertBurgess They are designed to make you fail (unless you have the nerves of steel and a super confidence from years of experience). Many of them (most perhaps) are also manipulating their slippage to make traders more likely to fail. I have noticed this, a trader friend of mine noticed this, and I talked with an experienced trader/educator who confirmed this with certainty. Prop firms make most of their money from failed challenges. Personally, I have had a lot more success with my personal capital, even though it's smaller than what prop firms offer. But had I put all the money that I wasted on poop firm challenges into my own personal account... One needs to be super careful and basically stressed out to watch out for the 5% daily DD. This is the main culprit, the biggest one (besides the slippage manipulation which doesn't really affect swing trading).
Love you Alb but the weird BespokeFunding rumors of not paying out and scaming is kinda weird
Hey I love you too!
I’ll copy a post from twitter today to see if this helps at all, always come to me if something doesn’t go in your favour and I’ll do my absolute best to resolve it I have no bad experience to comment on and I ensure you if I had I wouldn’t hide it because it’s not worth it to do so.
There are always two sides to every story. Unfortunately, many choose to focus solely on the negative due to a predisposition towards negative traits. Additionally, some of those who have been banned might only share selective information, possibly in an attempt to gain clout or tarnish reputations.
From my view those who have been banned is often by not adhering to established rules. We've been aware of the prop model and its associated rules for quite some time while some may differ can you say you've ever actually fully read the contract? If one chooses to use the supplied services, it's important to follow their guidelines, cheating will always be a thing, it's how you react when you get found out thats the issue unfortunately often the reaction is aggressive due to a euphoric moment being diminished and egos at play, also look at it from the other side should people who "cheat" be rewarded for doing so?
I'd strongly advise anyone who believes they have a legitimate reason as to why they should not have been "banned" to present their case, armed with clear and concise evidence. In fact, if the issue is genuine, I'm willing to lend an ear and back them up. However, if it's baseless or biased, it's best left unsaid. We must remember we're adults, some people need to stick there big boy pants on and accept they got caught out.
Also id like to highlight & acknowledge the many individuals who have had positive experiences and received their payouts, instead of only fixating on the negative narratives. Hope this helps have an absolutely wonderful week ahead.
Always here if people get in a pickle just reach out to me. 🙌🏻
@@AlbertBurgess damn thanks you so much for this detailed answer!
What I also find funny is that a lot of influencers who are bashing prop firms , are the ones who have majority of their wealth FROM prop firms, it's hilarious to me , and people who never were able to pass prop firms as you said leech on to that as gospel to make up for their mediocrity. The MFF situation is even funnier because they were just allegations but because some never were able to do anything with the opportunity due to their lack of skill/poor mindset they finally have a reason to not take accountability.
If one day Bespoke officially turns out to be scam prop, i wonder what would be your accountability for fellow traders since u affiliated n promoting them?
As I’ve said before I have no concerns believe me I always question everything but as said in these comments already every side has 2 stories and some of you only focus on the negative not how many have actually been paid out and made money. Also there are a ton of people who promoted Mff could they foresee that coming nope but it did? Anything can happen in this life all we can do is adapt and react accordingly when the time comes to do so. You best believe If something shady came out I’d be making a video in a flash my friend but I don’t like to focus on what ifs I focus on the here and now and making as much money as I can whilst these firms exist and I urge anyone else to be doing the same. If you get an issue with bespoke please I urge you come to me with evidence and I’ll go fight your corner all day everyday. Have a great week. 🫡
A waist if you ask me. But then again, who am I? This is my personal opinion, and I would rather build a 100€ account slowly and steadily compared to investment in a funded account, knowing that the chance of succeeding is low.
If you could build up a personal why wouldn’t you pass a prop firm challenge?
Everyone is entitled to an opinion I don't dispute that however I think the risk reward on a prop firm is something we should all capitalise on provided we can of course pass and keep the accounts.
A very good question! In general, if I can build my own account then I should be able to build a funded account too. On the other hand, if I pay for a funded account, and at that time the circumstances in my personal life are not ideal, I may blow up that funded account. I would then have preferred to invest that money in my personal account.
Building my personal account and starting very small, to compound it, is much more vigorous than succeeding for any founded account. But again, this is my personal opinion and the way I see things.
@@elliotdd2326
Profitable trading is like speedrunners in video games innit... 99% are just filthy casuals, teehee
But you make money from affiliates no? So will say its a golden ticket even tho you know how few that have a realistic chance?
I make doe from an affiliate so does every creator in the world why wouldn’t I? I work exceptionally hard to build a brand and audience in todays climate that isn’t easy so if I want to make abit of extra doe dam right I’m gonna, it also allows me to level up production and value do I survive of it no, regardless I’m stating a fact they’re an incredible tool and helped me change my life don’t use my links use someone else I ain’t arsed just don’t get why people would slate them when they provide us with an exceptional other way to make money, if you can’t pass that’s a YOU problem there’s work to do simple.
All these weekend Diabetics need to knock ye old Booger Sugar on the head 😂😂 ahh the age old... Just because you have an voice and opinion on line doesn't mean anyone actually cares about it. I've noticed on a few discords it gets very 5yr old playground very fast. Work on your on work, ignore others golrt posts, learn how to control your ego and get paid 🤘👌
Thats it brother you vs you mentality
Found the biggest prop firm shill on yt. How much did bespoke pay u?
1.9 billion a lambo urus and a mcds
There’s a lot of scaremongering going on, mainly from people a) ill-qualified to have an opinion and b) probably never passed a challenge in their lives. Prop firms are and should always be considered as a tool to leverage in order to build your own capital!
Scale your capital by having accounts with multiple firms rather than all your eggs in one basket, use their money to make your money, don’t get attached, rinse and repeat!