Wednesday, September 18, 2024

KASPA

The potential for Kaspa (KAS) to become a leading cryptocurrency or even a significant contender in the realm of digital currencies can be attributed to several factors highlighted by discussions and analyses found on the white papers, platforms like X and various crypto analysis sites up to September 2024:

  1. Technological Innovation: Kaspa introduces a Directed Acyclic Graph (DAG) structure known as GhostDAG, which aims to solve the blockchain trilemma of scalability, security, and decentralization. This technology allows for parallel processing of transactions, significantly increasing transaction throughput and reducing confirmation times which could make it more efficient than traditional blockchains like Bitcoin.

  2. Scalability and Speed: Kaspa's design promises to handle transactions much faster than many existing cryptocurrencies. With each Kaspa transaction visible to the network in one second and fully confirmed in about 10 seconds, it addresses one of the critical issues in blockchain technology—scalability.

  3. Security and Consensus Mechanism: Utilizing a proof-of-work (PoW) consensus with the kHeavyHash algorithm, Kaspa not only maintains a high level of security but also introduces optical-mining, potentially making mining more accessible and efficient. This could lead to a more decentralized mining network, reducing the risk of centralization seen in other cryptocurrencies.

  4. Community and Ecosystem Development: There's a strong emphasis on community-driven development, with initiatives like the Kaspa Ambassador Program and events like the SHAKA event in France, indicating a growing, engaged community. This community support is crucial for the organic growth and adoption of any cryptocurrency.

  5. Real-World Applications and Partnerships: Discussions around Kaspa highlight its potential in real-world applications, from simple transactions to more complex uses once smart contracts are integrated. Partnerships, like those hinted at in various posts, could lead to broader adoption, especially if Kaspa integrates into existing financial systems or new fintech solutions.

  6. Market Performance and Sentiment: Recent price movements and analyses suggest a bullish sentiment towards Kaspa, with predictions of significant growth based on its technological merits and market adoption trends. The introduction of Kaspa ETF further indicates an attempt to bridge traditional finance with cryptocurrency, potentially attracting more conservative investors.

  7. Future Vision and Development Roadmap: The roadmap for Kaspa includes features like smart contracts, which could position it not just as a currency but as a platform for decentralized applications (dApps), expanding its utility beyond mere transactions.

  8. Competitive Edge: While cryptocurrencies like Bitcoin and Ethereum have first-mover advantages, Kaspa's approach to solving inherent blockchain issues might appeal to developers, businesses, and investors looking for more efficient, scalable solutions without compromising on security.

Becoming the greatest crypto fiat in the world involves not just technological superiority but widespread adoption, regulatory acceptance, and economic stability, which are influenced by numerous external factors including global economic policies, technological advancements in competing cryptocurrencies, and shifts in investor sentiment.


Tuesday, September 17, 2024

Bovada Tennis Betting

When it comes to tennis betting, few platforms offer the same level of excellence and convenience as Bovada. From the Grand Slam tournaments like Wimbledon and the U.S. Open to ATP and WTA events around the globe, tennis fans looking to add an extra layer of excitement to their viewing experience have found a home in Bovada's sportsbook. In this article, we’ll dive deep into why Bovada is the best site for tennis betting, covering everything from the platform’s user-friendly interface to its competitive odds, wide variety of markets, live betting options, and lucrative promotions. Whether you're an experienced bettor or new to the world of tennis wagering, Bovada offers everything you need to take your tennis betting to the next level.

The Appeal of Tennis Betting

Before delving into the specifics of Bovada, it’s important to understand why tennis betting is so enticing in the first place. Unlike team sports, tennis features individual athletes, which means that outcomes often hinge on the form, psychology, and strategies of one player facing another. This singular dynamic creates a wealth of betting opportunities that can be uniquely thrilling, offering nuanced predictions on everything from the winner of a match to the number of aces a player will serve.

BOVADA SPORTSBOOK BONUS CODE

  • No Code Needed Sports Betting Bonus of 50% on 1st deposit up to $250
  • BTCSWB750 – Sports betting bonus code for deposit with Crypto. Get 75% match bonus up to $750, valid with a Bitcoin, Litecoin, Bitcoin Cash or Bitcoin SV Deposit. Rollover is 5X Sports.

The global tennis calendar is packed with events almost year-round, meaning that bettors can engage in tennis wagering on nearly a daily basis. Furthermore, the nature of tennis as a point-based sport allows for a wide array of in-game bets, keeping bettors actively involved throughout a match. With its long-standing history and the star power of players like Novak Djokovic, Serena Williams, and Rafael Nadal, tennis attracts a passionate following, and betting on the sport has become an integral way for fans to feel even more connected to the game. This is where Bovada steps in, offering everything a tennis bettor could desire in a clean, intuitive, and highly competitive betting platform.

Competitive Odds and Value for Bettors

One of the reasons Bovada is the best site for tennis betting is its commitment to offering highly competitive odds. For any serious bettor, the odds are the key determinant in finding value. Whether you're placing a bet on an underdog to pull off an upset, betting on a heavy favorite, or wagering on totals like the number of sets in a match, Bovada consistently offers odds that provide real value. Unlike other sportsbooks that may skew their lines based on public sentiment, Bovada’s odds are sharp, providing experienced bettors with the opportunity to capitalize on favorable numbers.

Bovada offers markets for all the major tournaments, including the Australian Open, French Open, Wimbledon, and U.S. Open. But it doesn’t stop there. Bettors can place wagers on ATP and WTA events throughout the year, as well as Challenger and ITF events for those who want to explore more obscure matches with potential value. This means that regardless of whether you're looking to place a bet on the next Grand Slam champion or dive into lower-tier tournaments where the action is less predictable, Bovada offers competitive odds that reward thorough research and analysis.

A Wide Variety of Tennis Betting Markets

One of the primary reasons Bovada excels at tennis betting is the platform’s extensive range of betting markets. Tennis is a sport that lends itself to a wide variety of bet types beyond the simple “who will win” format. Bettors can engage with everything from match winner and set betting to more granular bets, such as the number of aces served or whether the match will go to a tiebreak.

Bovada allows bettors to explore the sport at all levels, offering outright bets on who will win a tournament and individual match bets with various odds based on player performance, surface conditions, and other factors. For those who love to dig into the stats, Bovada offers over/under betting on total games in a match, handicap betting (similar to point spreads in other sports), and even specific prop bets, such as betting on the exact score of a set or the number of games a player will win.

This flexibility allows for a dynamic betting experience that tennis fans can tailor to their personal preferences. Some bettors prefer simple match outcomes, while others thrive on more complex bets that require a deeper understanding of player tendencies, form, and playing styles. With Bovada, you’ll never feel limited in your options. Instead, you’re given a complete toolset that allows you to bet in the ways that are most enjoyable and profitable for you.

Live Betting: The Real-Time Thrill of Tennis Betting

If there's one feature that truly sets Bovada apart in the world of tennis betting, it’s the platform’s robust live betting options. Tennis is a fast-paced sport, where the momentum of a match can shift in a matter of seconds. Bovada’s live betting platform captures this dynamic perfectly, allowing you to place bets in real time as the match unfolds.

Live betting brings an added dimension of excitement to tennis, as bettors can react to what they see on the court. For example, if a player starts the match slowly but shows signs of turning things around, live betting allows you to place a wager on them to win the next set or game. Conversely, if a favorite is struggling against a determined underdog, you can adjust your strategy and place bets that reflect the shifting balance of power in the match.

Bovada’s live betting interface is seamless and easy to navigate, ensuring that bettors can quickly place their wagers without missing a beat. Real-time updates keep you informed of the current odds, and the platform's smooth functionality ensures that placing live bets is as simple as it is exhilarating. Live tennis betting at Bovada makes every serve, rally, and breakpoint an opportunity for bettors to engage with the sport in a whole new way.

User-Friendly Interface and Mobile Betting

One of the hallmarks of a great sportsbook is an easy-to-use interface that enhances the betting experience. Bovada’s platform is designed with the user in mind, offering a clean, intuitive layout that makes it easy to find the tennis bets you’re looking for. Whether you're on a desktop or mobile device, Bovada’s sportsbook is easy to navigate, with clear categories for tennis events, bet types, and odds.

BOVADA SPORTSBOOK BONUS CODE

  • No Code Needed Sports Betting Bonus of 50% on 1st deposit up to $250
  • BTCSWB750 – Sports betting bonus code for deposit with Crypto. Get 75% match bonus up to $750, valid with a Bitcoin, Litecoin, Bitcoin Cash or Bitcoin SV Deposit. Rollover is 5X Sports.

This user-friendly design is particularly important for tennis bettors, as the sport often involves quick decisions based on real-time events. Bovada’s sleek interface ensures that you can place your bets quickly and efficiently without having to sift through unnecessary clutter. For those who are constantly on the go, Bovada’s mobile platform is equally impressive. Optimized for smartphones and tablets, the mobile experience mirrors the desktop version in terms of functionality and ease of use.

Mobile betting is essential for tennis fans who want to stay connected to their wagers, whether they're watching a match live at a stadium, following it on TV, or checking scores during a busy day. Bovada’s mobile platform allows bettors to place pre-match and live bets from anywhere, ensuring that you never miss out on an opportunity.

Promotions and Bonuses Tailored for Tennis Bettors

In addition to its top-notch betting markets and user-friendly interface, Bovada offers an array of bonuses and promotions designed to maximize your betting potential. New users are greeted with a generous welcome bonus, often in the form of a deposit match or free bet. This bonus can be applied to tennis betting, giving you extra funds to explore Bovada’s tennis markets without dipping into your own pocket.

But it’s not just new users who benefit. Throughout the tennis season, Bovada frequently offers promotions tailored specifically to tennis bettors, such as odds boosts, risk-free bets, and cashback offers. These promotions provide additional value and can help you extend your bankroll, making it easier to take advantage of the many betting opportunities available during major tennis tournaments.

For experienced bettors, Bovada’s loyalty program is another advantage. Regular users can earn rewards points through Bovada’s VIP program, which can be redeemed for bonuses and free bets. This rewards system is especially appealing for those who are committed to tennis betting over the long term, as it allows you to build up extra value with every bet you place.

Secure Banking and Fast Payouts

For anyone who is serious about tennis betting, the importance of secure banking and fast payouts cannot be overstated. Bovada shines in this regard, offering a variety of secure deposit and withdrawal methods that cater to the needs of U.S. bettors. Whether you prefer traditional methods like credit cards or bank transfers, or more modern options like cryptocurrency, Bovada ensures that your transactions are safe, seamless, and efficient.

What sets Bovada apart from other sportsbooks is its reputation for fast and reliable payouts. Once you’ve secured a big win on a tennis match, you don’t want to wait around to access your funds. With Bovada, you can withdraw your winnings quickly and with minimal hassle. Cryptocurrency users, in particular, enjoy near-instantaneous withdrawals, while more traditional methods also offer relatively quick payout times compared to other platforms.

This reliability in banking is yet another reason why Bovada is the best site for tennis betting. Bettors can focus on analyzing matches, researching players, and placing bets, all with the peace of mind that their money is secure and that they’ll be able to access their winnings quickly when the time comes.

Why Bovada is the Best Site for Tennis Betting

In the highly competitive world of online sports betting, Bovada stands out as the premier destination for tennis bettors in the United States. Whether you’re placing a wager on the outcome of a Grand Slam final, live betting on an ATP 1000 event, or exploring the more nuanced prop bets that tennis has to offer, Bovada’s platform provides the perfect blend of value, excitement, and convenience.

With its competitive odds, extensive range of tennis betting markets, user-friendly interface, and excellent live betting options, Bovada ensures that tennis fans have everything they need to enjoy an immersive betting experience. The platform’s commitment to security, fast payouts, and valuable promotions further cements its status as the top choice for anyone looking to bet on tennis.

If you’re passionate about tennis and ready to take your betting to the next level, Bovada is the place to be. Sign up today and discover why Bovada has become the go-to site for tennis betting enthusiasts across the United States.

BOVADA SPORTSBOOK BONUS CODE

  • No Code Needed Sports Betting Bonus of 50% on 1st deposit up to $250
  • BTCSWB750 – Sports betting bonus code for deposit with Crypto. Get 75% match bonus up to $750, valid with a Bitcoin, Litecoin, Bitcoin Cash or Bitcoin SV Deposit. Rollover is 5X Sports.

How to Pass a Prop Firm Challenge

Passing a prop firm challenge requires a solid trading strategy, disciplined risk management, and meeting profit targets while staying within drawdown limits. Yet, within the prop trading community I’m hearing some nightmare stories and some trying to claim it's all a scam. 

At the same time, I haven’t come across a solid guide on any Reddit sub or even online that really digs into forex prop trading and gives a detailed overview for funded traders, so on this rainy day, I thought I’d summarise things for anyone interested. 

Hopefully this will help some beginner traders get their head around things before they get started as more and more traders are realising that the perks of being a funded trader can outweigh traditional CFD trading. 

Once you pass the initial challenge, the prop firm takes on the financial risk, making it a more attractive option for experienced traders. Profitable traders are rewarded with significant profit splits—up to 90%—while keeping their own capital safe. Here's a breakdown of everything you need to know to pass a prop firm challenge and become a funded trader.

Intro to Prop Firm Challenges

Prop trading, funded trader programs, or proprietary trading firms, are where traders use a firm's capital to trade financial markets. These firms offer what’s called funded accounts or prop challenges, where traders go through an evaluation process before they can access a real trading account funded by the prop firm. Some popular programs include elite trader programs, funded demo accounts, and more.

Challenges usually have two phases. In the first, traders need to hit profit targets while avoiding maximum drawdown. If successful, they move to a second phase with typically lower profit targets. These challenges are gaining popularity as they provide traders access to larger capital without risking their own money.

Compared to traditional CFD trading with online brokers, prop trading has more strict rules, especially regarding risk management and drawdowns. Prop firms generally operate outside of traditional financial regulation, unlike CFD brokers who must follow guidelines set by regulatory authorities. This is both a pro and a con; while traders get more flexibility, they must ensure they work with reputable firms.

Pros of Prop Trading:

  • No personal capital at risk
  • Potential access to significant capital
  • Ability to earn large profit splits (up to 90%)

Cons of Prop Trading:

  • Strict rules (max drawdown, risk limits)
  • Fees to enter challenges
  • Some firms have questionable reputations regarding payouts or transparency

Challenge Account Types

Prop trading firms vary widely in how their accounts and challenges are structured. Some offer instant-funded accounts, where you can bypass the evaluation phase by paying a larger fee upfront. This gives traders immediate access to a funded account without needing to prove their skills in advance. However, most firms follow the traditional two-phase evaluation process, where traders need to meet specific profit targets within a set number of days, typically between 6 and 18.

The fees for these prop trading challenges can range anywhere from around $50 to over $5000, depending on the firm and the account size. Some firms impose a minimum number of trading days (e.g., 5 days), while others set a maximum (e.g., 120 days). Profit splits also vary, with most firms offering anywhere from 75% to 90% of the profits, depending on how long you stay with them and your performance.

Other key factors, like the spreads, available markets (forex, indices, commodities, crypto), and trading platforms (MetaTrader 4, MetaTrader 5, MatchTrader, TradingView, or cTrader), also differ from firm to firm. For more detailed info, prop-firms.com has a solid comparison tool that breaks down the rules, fees, and restrictions of each firm, giving traders a clearer picture of what to expect—especially compared to some of the more confusing details on individual prop firms' websites.

If you want more info, I recommend having a look at Prop-Firms, their comparisons of the various prop firm accounts is done in a clear, comprehensive way compared to anything else online. Each firm’s rules, fees, and restrictions are broken down in detail, ensuring traders understand the fine print that might be confusing on some prop firms’ websites. 

Payouts

Payout structures differ between prop firms. Some offer monthly payouts, while others provide weekly or bi-weekly withdrawals. The payout rate itself can range from 70% to 90%, with some firms increasing the payout split after the first successful month of trading.

However, not all firms are known for reliable payouts. Issues like delays, complicated withdrawal processes, and limits on the payout percentage have been reported with some less reputable firms. Companies like FTMO, IC Funded, and TopStep have established solid reputations for smooth payouts, while newer firms might need time to build a solid payout reputation

Risk Management

Risk management is crucial when attempting to pass a prop firm challenge, as firms impose strict daily loss limits and maximum drawdowns. For instance, many firms set a daily loss limit at 5% and an overall limit at 10%. Failure to stay within these limits results in failure of the challenge, so traders must adopt a solid risk management strategy.

Key elements of risk management in prop trading include setting stop-loss orders for every trade (which is mandatory for some account types and prop firms), keeping risk per trade low (usually around 1-2% of the account balance), and avoiding over-leveraging. Traders must also adjust their strategies according to the market conditions, especially when major news events are scheduled, as many prop firms restrict news trading.

Trading Strategies

There’s no one-size-fits-all when it comes to trading strategies in prop firm challenges. Everyone has their own style, and what works for one trader might not work for another. The key is to find a strategy that fits your strengths and the rules of the prop firm. 

Here are a few popular strategies that traders use to tackle these challenges, each with its own pros and cons.

  • Day Trading: Traders open and close positions within a single trading day. This approach requires quick decision-making but avoids overnight risks.
  • Swing Trading: Trades are held for several days, allowing traders to capture larger price movements, but it can be more exposed to market volatility.
  • Copy Trading: Some firms allow traders to copy the trades of successful traders, but many prop firms prohibit this practice.
  • Automated Trading (EAs): Some traders use expert advisors (EAs) for automated trading, though some firms restrict or outright ban their use.
  • News Trading: Trading during high-impact news events can be profitable but some prop firms have strict news trading rules and restrictions (i.e. timeframes you cant trade before or after significant news announcements), due to the unpredictable volatility involved.

Financial Markets for Prop Trading

Prop traders generally don’t have the same level of diversification as someone trading CFDs with their own capital or through forex funds. However, most prop firms offer a solid range of forex pairs, a handful of commodities, and sometimes some indices or cryptocurrencies too. While you won’t get every market under the sun, the selection is usually enough to work with, especially for traders who focus on specific asset classes.

Forex TradingForex is the most popular market among prop firms. It offers deep liquidity and operates 24/5, allowing traders to find opportunities at almost any time of day. Most prop firms focus heavily on forex trading due to its consistent volume.

CommoditiesGold, oil, and other commodities are frequently offered by prop firms. These assets can be more volatile than forex, providing both high risk and high reward.

IndicesMajor indices like the S&P 500, NASDAQ, and DAX are commonly available for trading. Indices can be more stable than individual stocks and offer good opportunities for technical traders.

CryptoCryptocurrencies like Bitcoin and Ethereum have grown in popularity for prop trading, though not all firms offer crypto trading due to its extreme volatility.

Tips to Pass Prop Firm Challenges

Here are 10 tips for traders aiming to pass prop firm challenges:

  1. Stick to Your Trading Plan: Define your strategy and have clear trading objectives before starting and don’t deviate.
  2. Manage Risk Carefully: Keep risk per trade low and always use stop-loss orders.
  3. Track Your Progress: Regularly monitor your drawdown and profit targets.
  4. Avoid Overtrading: Trade only when there is a clear opportunity—quality over quantity.
  5. Be Aware of News Events: Avoid trading during high-impact news unless your strategy specifically accounts for volatility, keep up to date with market trends.
  6. Use Proper Position Sizing: Ensure that your trade sizes align with your account size and risk tolerance.
  7. Follow the Firm’s Rules: Each prop firm has strict guidelines; know them and follow them to the letter.
  8. Practice on a Demo Account: Familiarise yourself with the prop firm’s platform and rules before entering a live challenge.
  9. Keep Emotions in Check: Stay disciplined, especially during losing streaks, look for mentorship where needed.
  10. Leverage Risk-Reward Ratios: Aim for trades with a risk-reward ratio of at least 1:2 to give yourself a better chance of success.

The Best Prop Firms

When it comes to finding the right prop firm, it’s all about transparency, fair rules, reliable payouts, and solid support. With all these new prop firms popping up left right and centre, it can feel a bit overwhelming to figure out which ones are actually worth your time. 

So, to make things easier, here’s a quick rundown of some of the top prop firms that are known for treating their traders right.

  • FTMO: Known for its high payouts and transparent rules, FTMO is one of the most trusted names in the industry.
  • IC Funded: Backed by IC Markets, it offers low fees and flexible account sizes, with competitive spreads.
  • Funded Trading Plus: A more relaxed approach to prop trading, with fewer restrictions and no time limits on challenges.
  • FundedNext: A newer firm gaining popularity for its straightforward processes and good trading conditions.
  • TopStep: Focuses on futures trading and is popular for its excellent educational resources.
  • OANDA: A well-established name in the trading world, OANDA has recently launched its prop trading program with competitive terms.

So to sum up, prop firm challenges offer a unique opportunity for traders to access significant trading capital without risking their own funds. Success in these challenges requires discipline, a solid trading strategy, and a focus on risk management. By carefully choosing the right prop firm and sticking to key principles, traders can successfully pass challenges and earn funded accounts with significant payout potential.

I feel like I’ve covered most of the key concepts around prop trading and forex prop firms here, but let me know if you have any questions and I’ll do my best to answer them! I’ll also start posting any interesting resources and webinars I come across in this sub.  

Otherwise, the next step would be looking at Prop Firm Reviews to find the best fit for your needs and trading style :)

How to Pass a Prop Firm Challenge

Passing a prop firm challenge requires a solid trading strategy, disciplined risk management, and meeting profit targets while staying within drawdown limits. Yet, within the prop trading community I’m hearing some nightmare stories and some trying to claim it's all a scam. 

At the same time, I haven’t come across a solid guide on any Reddit sub or even online that really digs into forex prop trading and gives a detailed overview for funded traders, so on this rainy day, I thought I’d summarise things for anyone interested. 

Hopefully this will help some beginner traders get their head around things before they get started as more and more traders are realising that the perks of being a funded trader can outweigh traditional CFD trading. 

Once you pass the initial challenge, the prop firm takes on the financial risk, making it a more attractive option for experienced traders. Profitable traders are rewarded with significant profit splits—up to 90%—while keeping their own capital safe. Here's a breakdown of everything you need to know to pass a prop firm challenge and become a funded trader.

Intro to Prop Firm Challenges

Prop trading, funded trader programs, or proprietary trading firms, are where traders use a firm's capital to trade financial markets. These firms offer what’s called funded accounts or prop challenges, where traders go through an evaluation process before they can access a real trading account funded by the prop firm. Some popular programs include elite trader programs, funded demo accounts, and more.

Challenges usually have two phases. In the first, traders need to hit profit targets while avoiding maximum drawdown. If successful, they move to a second phase with typically lower profit targets. These challenges are gaining popularity as they provide traders access to larger capital without risking their own money.

Compared to traditional CFD trading with online brokers, prop trading has more strict rules, especially regarding risk management and drawdowns. Prop firms generally operate outside of traditional financial regulation, unlike CFD brokers who must follow guidelines set by regulatory authorities. This is both a pro and a con; while traders get more flexibility, they must ensure they work with reputable firms.

Pros of Prop Trading:

  • No personal capital at risk
  • Potential access to significant capital
  • Ability to earn large profit splits (up to 90%)

Cons of Prop Trading:

  • Strict rules (max drawdown, risk limits)
  • Fees to enter challenges
  • Some firms have questionable reputations regarding payouts or transparency

Challenge Account Types

Prop trading firms vary widely in how their accounts and challenges are structured. Some offer instant-funded accounts, where you can bypass the evaluation phase by paying a larger fee upfront. This gives traders immediate access to a funded account without needing to prove their skills in advance. However, most firms follow the traditional two-phase evaluation process, where traders need to meet specific profit targets within a set number of days, typically between 6 and 18.

The fees for these prop trading challenges can range anywhere from around $50 to over $5000, depending on the firm and the account size. Some firms impose a minimum number of trading days (e.g., 5 days), while others set a maximum (e.g., 120 days). Profit splits also vary, with most firms offering anywhere from 75% to 90% of the profits, depending on how long you stay with them and your performance.

Other key factors, like the spreads, available markets (forex, indices, commodities, crypto), and trading platforms (MetaTrader 4, MetaTrader 5, MatchTrader, TradingView, or cTrader), also differ from firm to firm. For more detailed info, prop-firms.com has a solid comparison tool that breaks down the rules, fees, and restrictions of each firm, giving traders a clearer picture of what to expect—especially compared to some of the more confusing details on individual prop firms' websites.

If you want more info, I recommend having a look at Prop-Firms, their comparisons of the various prop firm accounts is done in a clear, comprehensive way compared to anything else online. Each firm’s rules, fees, and restrictions are broken down in detail, ensuring traders understand the fine print that might be confusing on some prop firms’ websites. 

Payouts

Payout structures differ between prop firms. Some offer monthly payouts, while others provide weekly or bi-weekly withdrawals. The payout rate itself can range from 70% to 90%, with some firms increasing the payout split after the first successful month of trading.

However, not all firms are known for reliable payouts. Issues like delays, complicated withdrawal processes, and limits on the payout percentage have been reported with some less reputable firms. Companies like FTMO, IC Funded, and TopStep have established solid reputations for smooth payouts, while newer firms might need time to build a solid payout reputation

Risk Management

Risk management is crucial when attempting to pass a prop firm challenge, as firms impose strict daily loss limits and maximum drawdowns. For instance, many firms set a daily loss limit at 5% and an overall limit at 10%. Failure to stay within these limits results in failure of the challenge, so traders must adopt a solid risk management strategy.

Key elements of risk management in prop trading include setting stop-loss orders for every trade (which is mandatory for some account types and prop firms), keeping risk per trade low (usually around 1-2% of the account balance), and avoiding over-leveraging. Traders must also adjust their strategies according to the market conditions, especially when major news events are scheduled, as many prop firms restrict news trading.

Trading Strategies

There’s no one-size-fits-all when it comes to trading strategies in prop firm challenges. Everyone has their own style, and what works for one trader might not work for another. The key is to find a strategy that fits your strengths and the rules of the prop firm. 

Here are a few popular strategies that traders use to tackle these challenges, each with its own pros and cons.

  • Day Trading: Traders open and close positions within a single trading day. This approach requires quick decision-making but avoids overnight risks.
  • Swing Trading: Trades are held for several days, allowing traders to capture larger price movements, but it can be more exposed to market volatility.
  • Copy Trading: Some firms allow traders to copy the trades of successful traders, but many prop firms prohibit this practice.
  • Automated Trading (EAs): Some traders use expert advisors (EAs) for automated trading, though some firms restrict or outright ban their use.
  • News Trading: Trading during high-impact news events can be profitable but some prop firms have strict news trading rules and restrictions (i.e. timeframes you cant trade before or after significant news announcements), due to the unpredictable volatility involved.

Financial Markets for Prop Trading

Prop traders generally don’t have the same level of diversification as someone trading CFDs with their own capital or through forex funds. However, most prop firms offer a solid range of forex pairs, a handful of commodities, and sometimes some indices or cryptocurrencies too. While you won’t get every market under the sun, the selection is usually enough to work with, especially for traders who focus on specific asset classes.

Forex TradingForex is the most popular market among prop firms. It offers deep liquidity and operates 24/5, allowing traders to find opportunities at almost any time of day. Most prop firms focus heavily on forex trading due to its consistent volume.

CommoditiesGold, oil, and other commodities are frequently offered by prop firms. These assets can be more volatile than forex, providing both high risk and high reward.

IndicesMajor indices like the S&P 500, NASDAQ, and DAX are commonly available for trading. Indices can be more stable than individual stocks and offer good opportunities for technical traders.

CryptoCryptocurrencies like Bitcoin and Ethereum have grown in popularity for prop trading, though not all firms offer crypto trading due to its extreme volatility.

Tips to Pass Prop Firm Challenges

Here are 10 tips for traders aiming to pass prop firm challenges:

  1. Stick to Your Trading Plan: Define your strategy and have clear trading objectives before starting and don’t deviate.
  2. Manage Risk Carefully: Keep risk per trade low and always use stop-loss orders.
  3. Track Your Progress: Regularly monitor your drawdown and profit targets.
  4. Avoid Overtrading: Trade only when there is a clear opportunity—quality over quantity.
  5. Be Aware of News Events: Avoid trading during high-impact news unless your strategy specifically accounts for volatility, keep up to date with market trends.
  6. Use Proper Position Sizing: Ensure that your trade sizes align with your account size and risk tolerance.
  7. Follow the Firm’s Rules: Each prop firm has strict guidelines; know them and follow them to the letter.
  8. Practice on a Demo Account: Familiarise yourself with the prop firm’s platform and rules before entering a live challenge.
  9. Keep Emotions in Check: Stay disciplined, especially during losing streaks, look for mentorship where needed.
  10. Leverage Risk-Reward Ratios: Aim for trades with a risk-reward ratio of at least 1:2 to give yourself a better chance of success.

The Best Prop Firms

When it comes to finding the right prop firm, it’s all about transparency, fair rules, reliable payouts, and solid support. With all these new prop firms popping up left right and centre, it can feel a bit overwhelming to figure out which ones are actually worth your time. 

So, to make things easier, here’s a quick rundown of some of the top prop firms that are known for treating their traders right.

  • FTMO: Known for its high payouts and transparent rules, FTMO is one of the most trusted names in the industry.
  • IC Funded: Backed by IC Markets, it offers low fees and flexible account sizes, with competitive spreads.
  • Funded Trading Plus: A more relaxed approach to prop trading, with fewer restrictions and no time limits on challenges.
  • FundedNext: A newer firm gaining popularity for its straightforward processes and good trading conditions.
  • TopStep: Focuses on futures trading and is popular for its excellent educational resources.
  • OANDA: A well-established name in the trading world, OANDA has recently launched its prop trading program with competitive terms.

So to sum up, prop firm challenges offer a unique opportunity for traders to access significant trading capital without risking their own funds. Success in these challenges requires discipline, a solid trading strategy, and a focus on risk management. By carefully choosing the right prop firm and sticking to key principles, traders can successfully pass challenges and earn funded accounts with significant payout potential.

I feel like I’ve covered most of the key concepts around prop trading and forex prop firms here, but let me know if you have any questions and I’ll do my best to answer them! I’ll also start posting any interesting resources and webinars I come across in this sub.


BTC Update 9.17.24

Updated Analysis Based on Recent Bitcoin Price Action (9/17/24 Version)

Today's Bitcoin price action provides further insight into the scenarios we previously discussed. Here's how the recent surge affects our initial analysis:

  1. Initial Uptick (2-5% Increase):
    • What Happened: Bitcoin's price surged by 5.3%, reaching a peak of $61,331. This move aligns closely with the anticipated 2-5% initial increase, driven by optimism over a potential 50 basis point rate cut by the Federal Reserve. The surge suggests that the market is already pricing in the expectation of looser monetary policy, which could lead to more speculative investment in risk assets like Bitcoin.
    • Updated View: This initial move reinforces our projection that a Fed rate cut would prompt a short-term rally. The size of the increase indicates strong market sentiment favoring a substantial rate cut, but also suggests that much of the optimism might already be reflected in the current price. If the rate cut is as expected, we may not see much further upward movement unless accompanied by particularly dovish forward guidance from the Fed.
  2. "Sell the News" Phase (5-10% Decrease):
    • What Could Happen: The 5.3% surge could set the stage for a "sell the news" event, especially if the Fed announces a smaller rate cut (25 basis points) or if Jerome Powell's comments suggest ongoing economic uncertainty. With Bitcoin reaching a significant resistance level around $61,000, there's potential for a pullback of 5-10% if traders decide to lock in profits after the rate cut announcement, particularly if macroeconomic conditions remain uncertain.
    • Updated View: Given today's spike, the likelihood of a "sell the news" reaction remains high. Should the Fed's rate cut be less aggressive than anticipated or paired with cautious guidance, we could see a quick correction back toward the $54,000-$58,000 range. The extent of the pullback will depend on how the Fed's stance is perceived by investors, with concerns about recession or slower global growth potentially amplifying the downside.
  3. Market Stabilization (0-3% Range Movement):
    • What to Expect: Following today's volatility, if a sell-off does occur, Bitcoin could stabilize within a 0-3% range as the market digests the Fed's decision and other economic data. If Bitcoin holds key support levels around $54,000-$58,000 and broader economic conditions do not deteriorate further, there could be room for a more gradual recovery later in the year. Positive catalysts like renewed institutional interest or favorable macroeconomic data would be crucial to this stabilization phase.
    • Updated View: The surge to $61,331 indicates strong buying interest, but sustaining this level will depend on external economic signals and investor sentiment. Stabilization within the projected range is still likely, particularly if traders look for additional clarity from the Fed's forward guidance.

Conclusion

Today's price action supports our initial analysis but also suggests that the market is at a critical juncture. While the surge indicates optimism about the Fed's rate cut, it also raises the stakes for the actual announcement. If the Fed delivers less than expected or signals economic caution, a pullback could quickly follow, leading to a consolidation phase within the projected range. Conversely, if the Fed cuts rates aggressively and signals further easing, Bitcoin could maintain or even extend its recent gains.

This update reflects current market dynamics and recent news as of September 17, 2024. The next steps will depend heavily on the specifics of the Fed's rate cut and the broader economic context.

Series7Trader

Not financial advice.


Monday, September 16, 2024

6. Deposit Carnival

https://i.redd.it/m29seetckapd1.jpeg

CNBC: Trump crypto project World Liberty Financial provides few details so far

https://www.cnbc.com/2024/09/16/trump-crypto-world-liberty-financial.html

  • For over a month, Republican former President Donald Trump and his family have been pumping up a secretive family crypto project, promising that it will do many things at once.
  • World Liberty Financial is expected to operate as a crypto banking platform, with 70% of the equity to be held by a small group of Trump family members and insiders, according to a person familiar with the project.
  • The parallels between this endeavor and Trump’s other venture, Trump Media Technology Group, were unavoidable.

" Around sixteen minutes into Republican former President Donald Trump’s “state of crypto” address on X, cryptocurrencies got their first mention. More than an hour in, few of the promised details had been provided about the family’s secretive new crypto project. "

"The GOP presidential nominee began the conversation around crypto by talking about how much his three sons know about the industry and how “they’ve shown great judgment.”

“Barron knows so much about this,” Trump said of his youngest son. “He talks about his wallet. He’s got four wallets or something, but he knows this stuff.”

From there, Trump covered familiar ground, talking about the perceived hostility of the Securities and Exchange Commission towards the digital currency industry. Several high profile figures in the industry take issue with SEC Chair Gary Gensler, claiming that he is regulating the industry through enforcement actions, rather than with rules.

Over the course of Trump’s 40-minute fireside chat, he talked about how he “wasn’t overly interested” in crypto initially. But that changed, he said, when sales of his Trump trademarked nonfungible token collections were paid for with crypto. “I think my children opened my eyes more than anything else.”

CNBC sent detailed questions to a World Liberty Financial press email address on Monday. A short time later, CNBC received an email reply sent from an anonymous gmail account, which did not answer CNBC’s questions or list a name for the sender."

"On Sunday afternoon at Trump International Golf Club in West Palm Beach, Florida, Trump and his longtime friend and political donor, Steve Witkoff, were between the fifth and sixth holes on the course when gunshots were fired. The FBI has characterized the incident as an apparent assassination attempt on the former president.

Witkoff is a longtime friend of Trump’s. He’s also part of the small group of World Liberty Financial founders, according to an internal report on the project obtained by CoinDesk.

Witkoff was seated to Trump’s right during Monday night’s spaces, and described how he brought the Trump family together two crypto entrepreneurs.

“My son introduced me to two partners, Chase Herro and Zak Folkman, who are exceptionally bright people ...These guys are as smart as any currency traders I’ve ever met. And they began talking to me about decentralized finance, which means frictionless finance, and why it made sense for people and about the forgotten, who can’t get credit out there,” he said.

“As I began to understand that, I said, ‘Who would understand this better than this than the Trump family?’ And we had a meeting initially with Eric, Don Jr, and the president and his counsel. And we said, Let’s go pursue it. We’ve been on it for close to nine months,” said Witkoff.

Along with Trump, Witkoff is one of at least a half dozen members of the project’s “leadership team.” This means he will also reportedly share in the 70% stake in the crypto bank that will be issued to its founding members at the launch.

Seventy percent is an unusually large equity share for the founders of a crypto platform to retain, according to several industry experts including crypto-specific venture capitalists. The typical founders stake is closer to 20%.

As Witkoff spoke, the parallels with Trump’s other venture, Trump Media Technology Group, were unavoidable.

In that case, two former cast members on Trump’s NBC hit “The Apprentice” approached Trump in 2021 with an idea for a new, conservative social network. Three years later, TMTG’s stock has boosted Trump’s net worth by billions of dollars, and Truth Social is his platform of choice.

Alongside Trump and Witkoff, founders include Donald Trump Jr., Eric Trump and Barron Trump, as well as Witkoff’s son, Zach Witkoff, according to a person briefed by a member of the group’s founding team.

A copy of the internal report, known as a white paper and obtained by CoinDesk, lists Barron as “Chief DeFi Visionary,” Eric and Donald Jr. as “Web3 Ambassadors,” and Trump Sr. as “Chief Crypto Advocate.”

But while the Trumps will receive compensation from the project, Bloomberg reports that the platform itself is “not owned, managed, operated or sold” by members of the Trump family."

"Anyone who wants material details of the platform, including the white paper, is being asked to sign a non-disclosure agreement, according to a person familiar with the project

Some visible members of the industry newly cozied up to Trump in 2024, lending their cash and endorsement to the Republican presidential nominee, as he adopted increasingly bullish talking points on the campaign trail, which culminated in the GOP pick delivering a keynote address at the biggest bitcoin event of the year in Nashville in July.

Some of those supporters however, say they are concerned that this foray into crypto may jeopardize Trump’s rapport with the sector more broadly if the launch doesn’t go as planned.

A person familiar with the project says that Donald Trump, Sr. isn’t that involved in the platform thus far."


Snappy, Not Crappy: An Android Health & Performance Journey

Written by Lauren Darcey, Rob WcWhinnie, Catherine Chi, Drew Heavner, Eric Kuck

How It Started

Let’s rewind the clock a few years to late 2021. The pandemic is in full swing and Adele has staged a comeback. Bitcoin is at an all-time high, Facebook has an outage and rebrands itself as Meta, William Shatner gets launched into space, and Britney is finally free. Everyone’s watching Squid Game and their debt-ridden contestants are playing games and fighting for their lives.

Meanwhile, the Reddit Android app is supporting communities talking and shitposting about all these very important topics while struggle-bugging along with major [tech] debt and growing pains of its own. We’ve also grown fast as a company and have more mobile engineers than ever, but things aren’t speeding up. They’re slowing down instead.

Back then, the Android app wasn’t winning any stability or speed contests, with a crash-free rate in the 98% range (7D) and startup times over 12 seconds at p90. Yeah, I said 12 seconds. Those are near-lethal stats for an app that supports millions of users every day. Redditors were impatiently waiting for feeds to load, scrolling was a janky mess, the app did not have a coherent architecture anymore and had grown quickly into a vast, highly coupled monolith. Feature velocity slowed, even small changes became difficult, and in many critical cases there was no observability in place to even know something was wrong. Incidents took forever to resolve, in part, because making fixes took a long time to develop, test, deploy. Adding tests just slowed things down even more without much obvious upside, because writing tests on poorly written code invites more pain. 

These were dark times, friends, but amidst the disruptions of near-weekly “Reddit is down” moments, a spark of determination ignited in teams across Reddit to make the mobile app experiences suck less. Like a lot less. Reddit might have been almost as old as dial-up days, but there was no excuse for it still feeling like that in-app in the 2020s.

App stability and performance are not nice-to-haves, they’re make-or-break factors for apps and their users. Slow load times lead to app abandonment and retention problems. Frequent crashes, app not responding events (ANRs), and memory leaks lead to frustrated users uninstalling and leaving rage-filled negative reviews. On the engineering team, we read lots of them and we understood that pain deeply. Many of us joined Reddit to help make it a better product. And so began a series of multi-org stability and performance improvement projects that have continued for years, with folks across a variety of platform and feature teams working together to make the app more stable, reliable, and performant.

This blog post is about that journey. Hopefully this can help other mobile app teams out there make changes to address legacy performance debt in a more rational and sustainable way. 

Snappy, Not Crappy

You might be asking, “Why all the fuss? Can’t we just keep adding new features?” We tried that for years, and it showed. Our app grew into a massive, complex monolith with little cleanup or refactoring. Features were tightly coupled and CI times ballooned to hours. Both our ability to innovate and our app performance suffered. Metrics like crash rates, ANRs, memory leaks, startup time, and app size all indicated we had significant work to do. We faced challenges in prioritization, but eventually we developed effective operational metrics to address issues, eliminate debt, and establish a sustainable approach to app health and performance.

The approach we took, broadly, entailed:

  • Take stock of Android stability and performance and make lots of horrified noises.
  • Bikeshed on measurement methods, set unrealistic goals, and fail to hit them a few times.
  • Shift focus on outcomes and burndown tons of stability issues, performance bottlenecks, and legacy tech debt.
  • Break up the app monolith and adopt a modern, performant tech stack for further gains.
  • Improve observability and regression prevention mechanisms to safeguard improvements long term. Take on new metrics, repeat. 
  • Refactor critical app experiences to these modern, performant patterns and instrument them with metrics and better observability.
  • Take app performance to screen level and hunt for screen-specific improvement opportunities.
  • Improve optimization with R8 full mode, upgrade Jetpack Compose, and introduce Baseline Profiles for more performance wins.
  • Start celebrating removing legacy tech and code as much as adding new code to the app.

We set some north star goals that felt very far out-of-reach and got down to business. 

From Bikeshedding on Metrics to Focusing On Burning Down Obvious Debt

Well, we tried to get down to business but there was one more challenge before we could really start. Big performance initiatives always want big promises up-front on return on investment, and you’re making such promises while staring at a big ball of mud that is fragile with changes prone to negative user impact if not done with great care. 

When facing a mountain of technical debt and traditional project goals, it’s tempting to set ambitious goals without a clear path to achieve them. This approach can, however, demoralize engineers who, despite making great progress, may feel like they’re always falling short. Estimating how much debt can be cleared is challenging, especially within poorly maintained and highly coupled code.

“Measurement is ripe with anti-patterns. The ways you can mess up measurement are truly innumerable” - Will Larson, The Engineering Executive's Primer

We initially set broad and aggressive goals and encountered pretty much every one of the metrics and measurement pitfalls described by Will Larson in "The Engineering Executive's Primer." Eventually, we built enough trust with our stakeholders to move faster with looser goals and shifted focus to making consistent, incremental, measurable improvements, emphasizing solving specific problems over precise performance metrics goals upfront and instead delivered consistent outcomes after calling those shots. This change greatly improved team morale and allowed us to address debt more effectively, especially since we were often making deep changes capable of undermining metrics themselves.

Everyone wants to build fancy metrics frameworks but we decided to keep it simple as long as we could. We took aim at simple metrics we could all agree on as both important and bad enough to act on. We called these proxy metrics for bigger and broader performance concerns:

  • Crashlytics crash-free rate (7D) became our top-level stability and “up-time” equivalent metric for mobile. 
    • When the crash-free rate was too abstract to underscore user pain associated with crashing, we would invert the number and talk about our crashing user rates instead.  A 99% starts to sound great, but 1% crashing user rate still sounds terrible and worth acting on. This worked better when talking priorities with teams and product folks. 
  • Cold start time became our primary top-level performance metric. 
  • App size and modularization progress became how we measured feature coupling.   

These metrics allowed us to prioritize effectively for a very long time. You also might wonder why stability matters here in a blog post primarily about performance. Stability turns out to be pretty crucial in a performance-focused discussion because you need reliable functionality to trust performance improvements. A fast feature that fails isn’t a real improvement. Core functionality must be stable before performance gains can be effectively realized and appreciated by users.

Staying with straightforward metrics to quickly address user pain allowed us to get to work fixing known problems without getting bogged down in complex measurement systems. These metrics were cheap, easy, and available, reducing the risk of measurement errors. Using standard industry metrics also facilitated benchmarking against peers and sharing insights. We deferred creating a perfect metrics framework for a while (still a work in progress) until we had a clearer path toward our goals and needed more detailed measurements. Instead, we focused on getting down to business and fixing the very real issues we saw in plain sight. 

In Terms of Banana Scale, Our App Size & Codebase Complexity Was Un-a-peeling

Over the years, the Reddit app had grown due to the continuous feature development, especially in key spaces, without corresponding efforts around feature removals or optimization. App size is important on its own, but it’s also a handy proxy for assessing an app’s feature scope and complexity. Our overall app size blew past our peers’ sizes as our app monolith grew in scope in complexity under-the-hood. 

Figure 1: The Reddit Android App Size: Up, Up and Away!

App size was especially critical for the Android client, given our focus on emerging markets where data constraints and slower network speeds can significantly impact user acquisition and retention. Drawing from industry insights, such as Google’s recommendations on reducing APK size to enhance install conversion rates, we recognized the need to address our app’s size was important, but our features were so tightly coupled we were constrained on how to reduce app size until we modularized and decoupled features enough to isolate them from one another. 

We prioritized making it as easy to remove features as to add them and explored capabilities like conditional delivery. Worst case? By modularizing by feature with sample apps, we were ensuring that features operated more independently and ownership (or lack of it) was obvious. This way, if worse came to worse, we could take the modernized features to a new app target and declare bankruptcy on the legacy app. Luckily, we made a ton of progress on modularization quickly, those investments began to pay off and we did not have to continue in that direction.

As of last week, our app nudged to under 50Mb for the first time in three years and app size and complexity continue to improve with further code reuse and cleanups. We are working to explore more robust conditional delivery opportunities to deliver the right features to our users. We are also less tolerant of poorly owned code living rent-free in the app just in case we might need it again someday.

How we achieved a healthier app size:

  • We audited app assets and features for anything that could be removed: experiments, sunsetted features, assets and resources
  • We optimized our assets and resources for Android, where there were opportunities like webp. Google Play was handy for highlighting some of the lowest hanging fruit
  • We experimented with dynamic features and conditional delivery, shaving about a third of our app install size
  • We leveraged R8 full mode for improved minification 
  • We worked with teams to have more experiment cleanup and legacy code sunset plans budgeted into projects 
  • We made app size more visible in our discussions and  introduced observability and CI checks to catch any accidental app size bloat at the time of merge and deploy

Finally, we leaned in to celebrating performance and especially removing features and unnecessary code as much as adding it, in fun ways like slack channels. 

Figure 2: #Dead-Code-Society celebrating killing off major legacy features after deploying their modernized, improved equivalents.

Cold Start Improvements Have More Chill All The Time

When we measured our app startup time to feed interactions (a core journey we care about) and it came in at that astronomical 12.3s @ p90, we didn’t really need to debate that this was a problem that needed our immediate attention.  One of the first cross-platform tiger teams we set up focused on burning down app startup debt. It made sense to start here because when you think about it, app startup impacts everything: every time a developer starts the app or a tester runs a test, they pay the app startup tax. By starting with app start, we could positively impact all teams, all features, all users, and improve their execution speeds. 

Figure 3: Android App Cold Start to First Feed Burndown from 12 to 3 seconds @ p90, sustained for the long term

How we burned more than 8 seconds off app start to feed experience:

  • We audited app startup from start to finish and classified tasks as essential, deferrable or removable
    • We curated essential startup tasks and their ordering, scrutinizing them for optimization opportunities
      • We optimized feed content we would load and how much was optimal via experimentation
      • We optimized each essential task with more modern patterns and worked to reduce or remove legacy tech (e.g. old work manager solutions, Rx initialization, etc.)
      • We optimized our GraphQL calls and payloads as well as the amount of networking we were doing
    • We deferred work and lazy loaded what we could, moving those tasks closer to the experiences requiring them
      • We stopped pre-warming non-essential features in early startup 
    • We cleaned up old experiments and their startup tasks, reducing the problem space significantly
  • We modularized startup and put code ownership around it for better visibility into new work being introduced to startup
  • We introduced regression prevention mechanisms as CI checks, experiment checks and app observability in maintain our gains long term
  • We built an advisory group with benchmarking expertise and better tooling, aided in root causing regressions, and provided teams with better patterns less likely to introduce app-wide regressions

These days our app start time is a little over 3 seconds p90 worldwide and has been stable and slowly decreasing as we make more improvements to startup and optimize our GQL endpoints. Despite having added lots of exciting new features over the years, we have maintained and even improved on our initial work. Android and iOS are in close parity on higher end hardware, while Android continues to support a long tail of more affordable device types as well which take their sweet time starting up and live in our p75+ range. We manage an app-wide error budget primarily through observability, alerting and experimentation freezes when new work impacts startup metrics meaningfully. There are still times where we allow a purposeful (and usually temporary) regression to startup, if the value added is substantial and optimizations are likely to materialize, but we work with teams to ensure we are continuously paying down performance debt, defer unnecessary work, and get the user to the in-app experience they intended as quickly as possible. 

Tech Stack Modernization as a Driver for Stability & Performance

Our ongoing commitment to mobile modernization has been a powerful driver for enhancing and maintaining app stability and performance. By transforming our development processes and accelerating iteration speeds, we’ve significantly improved our ability to work on new features while maintaining high standards for app stability and performance; it’s no longer a tradeoff teams have to regularly make.

Our modernization journey centered around transitioning to a monorepo architecture, modularized by feature, and integrating a modern, cutting-edge tech stack that developers were excited to work in and could be much more agile within. This included adopting a pure Kotlin, Anvil, GraphQL, MVVM, Compose-based architecture and leveraging our design system for brand consistency. Our modernization efforts are well-established these days (and we talk about them at conferences quite often), and as we’ve progressed, we’ve been able to double-down on improvements built on our choices. For example:

  • Going full Kotlin meant we could now leverage KSP and move away from KAPT. Coroutine adoption took off, and RxJava disappeared from the codebase much faster, reducing feature complexity and lines of code. We’ve added plugins to make creating and maintaining features easy. 
  • Going pure GQL meant having to maintain and debug two network stacks, retry logic and traffic payloads was mostly a thing of the past for feature developers. Feature development with GQL is a golden path. We’ve been quite happy leveraging Apollo on Android and taking advantage of features, like normalized caching, for example, to power more delightful user experiences. 
  • Going all in on Anvil meant investing in simplified DI boilerplate and feature code, investing in devx plugins and more build improvements to keep build times manageable. 
  • Adopting Compose has been a great investment for Reddit, both in the app and in our design system. Google’s commitment to continued stability and performance improvements meant that this framework has scaled well alongside Reddit’s app investments and delivers more compelling and performant features as it matures. 

Our core surfaces, like feeds, video, and post detail page have undergone significant refactors and improvements for further devx and performance gains, which you can read all about on the Reddit Engineering blog as well.  The feed rewrites, as an example, resulted in much more maintainable code using modern technologies like Compose to iterate on, a better developer experience in a space pretty much all teams at Reddit need to integrate with, and Reddit users get their memes and photoshop battle content hundreds of milliseconds faster than before. Apollo GQL’s normalized caching helped power instant comment loading on the post details page. These are investments we can afford to make now that we are future focused instead of spending our time mired in so much legacy code.

These cleanup celebrations also had other upsides. Users noticed and sentiment analysis improved. Our binary got smaller and our app startup and runtime improved demonstrably. Our testing infrastructure also became faster, more scalable, and cost-effective as the app performance improved. As we phased out legacy code, maintenance burdens on teams were lessened, simplifying on-call runbooks and reducing developer navigation through outdated code. This made it easier to prioritize stability and performance, as developers worked with a cleaner, more consistent codebase. Consequently, developer satisfaction increased as build times and app size decreased.

Figure 4: App Size & Complexity Go Down. Developer Happiness Go Up.

By early 2024, we completed this comprehensive modularization, enabling major feature teams—such as those working on feeds, video players, and post details—to rebuild their components within modern frameworks with high confidence that on the other side of those migrations, their feature velocity would be greater and they’d have a solid foundation to build for the future in more performant ways. For each of the tech stack choices we’ve made, we’ve invested in continuously improving the developer experience around those choices so teams have confidence in investing in them and that they get better and more efficient over time. 

Affording Test Infrastructure When Your CI Times Are Already Off The Charts 

By transitioning to a monorepo structure modularized by feature and adopting a modern tech stack, we’ve made our codebase honor separation of concerns and become much more testable, maintainable and pleasant to work in. It is possible for teams to work on features and app stability/performance in tandem instead of having to choose one or the other and have a stronger quality focus. This shift not only enhanced our development efficiency but also allowed us to implement robust test infrastructure. By paying down developer experience and performance debt, we can now afford to spend some of our resources on much more robust testing strategies. We improved our unit test coverage from 5% to 70% and introduced intelligent test sharding, leading to sustainable cycle times. As a result, teams could more rapidly address stability and performance issues in production and develop tests to ensure ongoing

Figure 5: Android Repo Unit Test Coverage Safeguarding App Stability & Performance

Our modularization efforts have proven valuable, enabling independent feature teams to build, test, and iterate more effectively. This autonomy has also strengthened code ownership and streamlined issue triaging. With improved CI times now in the 30 minute range @ p90 and extensive test coverage, we can better justify investments in test types like performance and endurance tests. Sharding tests for performance, introducing a merge queue to our monorepo, and providing early PR results and artifacts have further boosted efficiency. 

Figure 6: App Monolith Go Down, Capacity for Testing and Automation to Safeguard App Health and Performance Go Up!

By encouraging standardization of boilerplate, introducing checks and golden paths, we’ve decoupled some of the gnarliest problems with our app stability and performance while being able to deliver tools and frameworks that help all teams have better observability and metrics insights, in part because they work in stronger isolation where attribution is easier. Teams with stronger code ownership are also more efficient with bug fixing and more comfortable resolving not just crashes but other types of performance issues like memory leaks and startup regressions that crop up in their code. 

Observe All The Things! …Sometimes

As our app-wide stability and performance metrics stabilized and moved into healthier territory, we looked for ways to safeguard those improvements and make them easier to maintain over time. 

We did this a few key ways:

  • We introduced on-call programs to monitor, identify, triage and resolve issues as they arose, when fixes are most straightforward.
  • We added reporting and alerting as CI checks, experiment checks, deployment checks, Sourcegraph observability and real-time production health checks. 
  • We took on second-degree performance metrics like ANRs and memory leaks and used similar patterns to establish, improve and maintain those metrics in healthy zones
  • We scaled our beta programs to much larger communities for better signals on app stability and performance issues prior to deployments
  • We introduced better observability and profiling tooling for detection, debugging, tracing and root cause analysis, Perfetto for tracing and Bitdrift for debugging critical-path beta crashes
  • We introduced screen-level performance metrics, allowing teams to see how code changes impacted their screen performance with metrics like time-to-interactive, time to first draw, and slow and frozen frame rates. 

Today, identifying the source of app-wide regressions is straightforward. Feature teams use screen-specific dashboards to monitor performance as they add new features. Experiments are automatically flagged for stability and performance issues, which then freeze for review and improvements.

Our performance dashboards help with root cause analysis by filtering data by date, app version, region, and more. This allows us to pinpoint issues quickly:

  • Problem in a specific app version? Likely from a client update or experiment.
  • Problem not matching app release adoption? Likely from an experiment.
  • Problem across Android and iOS? Check for upstream backend changes.
  • Problem in one region? Look into edge/CDN issues or regional experiments.

We also use trend dashboards to find performance improvement opportunities. For example, by analyzing user engagement and screen metrics, we've applied optimizations like code cleanup and lazy loading, leading to significant improvements. Recent successes include a 20% improvement in user first impressions on login screens and up to a 70% reduction in frozen frame rates during onboarding. Code cleanup in our comment section led to a 77% improvement in frozen frame rates on high-traffic screens.

These tools and methods have enabled us to move quickly and confidently, improving stability and performance while ensuring new features are well-received or quickly reverted if necessary. We’re also much more proactive in keeping dependencies updated and leveraging production insights to deliver better user experiences faster.

Obfuscate & Shrink, Reflect Less

We have worked closely with partners in Google Developer Relations to find key opportunities for more performance improvements and this partnership has paid off over time. We’ve resolved blockers to making larger improvements and built out better observability and deployment capabilities to reduce the risks of making large and un-gateable updates to the app. Taking advantage of these opportunities for stability, performance, and security gains required us to change our dependency update strategy to stay closer to current than Reddit had in the past. These days, we try to stay within easy update distance of the latest stable release on critical dependencies and are sometimes willing to take more calculated upgrade risks for big benefits to our users because we can accurately weigh the risks and rewards through observability, as you’ll see in a moment. 

Let’s start with how we optimized and minified our release builds to make our app leaner and snappier. We’d been using R8 for a long time, but enabling R8 “Full Mode” with its aggressive optimizations took some work, especially addressing some code still leveraging legacy reflection patterns and a few other blockers to strategic dependency updates that needed to be addressed first. Once we had R8 Full Mode working, we kept it baking internally and in our beta for a few weeks and timed the release to be a week when little else was going to production, in case we had to roll it back. Luckily, the release went smoothly and we didn’t need to use any contingencies, which then allowed us to move on to our next big updates. In production, we saw an immediate improvement of about 20% to the percentage of daily active users who experienced at least one Application Not Responding event (ANR). In total, we saw total ANRs for the app drop by about 30%, largely driven by optimizations improving setup time in dependency injection code, which makes sense. There’s still a lot more we can do here. We still have too many DEX files and work to improve this area, but we got the rewards we expected out of this effort and it continues to pay off in terms of performance. Our app ratings, especially around performance, got measurably better when we introduced these improvements. 

Major Updates Without Major Headaches

You can imagine with a big monolith and slow build times, engineers were not always inclined to update dependencies or make changes unless absolutely necessary. Breaking up the app monolith, having better observability and incident response turnaround times, and making the developer experience more reasonable has led to a lot more future-facing requests from engineering. For example, there's been a significant cultural shift at Reddit in mobile to stay more up-to-date with our tooling and dependencies and to chase improvements in frameworks APIs for improved experiences, stability, and performance, instead of only updating when compelled to.  

https://i.redd.it/exu8w2jd69pd1.gif

We’ve introduced tooling like Renovate to help us automate many minor dependency updates but some major ones, like Compose upgrades, require some extra planning, testing, and a quick revert strategy. We had been working towards the Compose 1.6+ update for some time since it was made available early this year. We were excited about the features and the performance improvements promised, especially around startup and scroll performance, but we had a few edge-case crashes that were making it difficult for us to deploy it to production at scale. 

We launched our new open beta program with tens of thousands of testers, giving us a clear view of potential production crashes. Despite finding some critical issues, we eventually decided that the benefits of the update outweighed the risks. Developers needed the Compose updates for their projects, and we anticipated users would benefit from the performance improvements. While the update caused a temporary dip in stability, marked by some edge case crashes, we made a strategic choice to proceed with the release and fix forward. We monitored the issues closely, fixed them as they arose, and saw significant improvements in performance and user ratings. Three app releases later, we had reported and resolved the edge cases and achieved our best stability and performance on Android to date.

Results wise? We saw improvements across the app and it was a great exercise in testing all our observability. We saw app-wide cold start app startup improvements in the 20% range u/p50 and app-wide scroll performance improvements in the 15% range u/p50.  We also saw marked improvements on lower-end device classes and stronger improvements in some of our target emerging market geos. These areas are often more sensitive to app size, startup ANRs and performance constrained so it makes sense they would see outsized benefits on work like this.

Figure 7: App Start Benchmark Improvements

We also saw: 

  • Google Play App Vitals: Slow Cold Start Over Time improved by ~13%, sustained.
  • Google Play App Vitals: Excessive Frozen Frames Over Time improved by over ~10%, sustained. 
  • Google Play App Vitals: Excessive Slow Frames Over Time improved by over ~30%, sustained. 

We saw sweeping changes, so we also took this opportunity to check on our screen-level performance metrics and noted that every screen that had been refactored for Compose (almost 75% of our screens these days) saw performance improvements. We saw this in practice: no single screen was driving the overall app improvements from the update. Any screen that has modernized (Core Stack/Compose) saw benefits.  As an example, we focused on the Home screen and saw about a 15% improvement in scroll performance @ p50, which brought us into a similar performance zone as our iOS sister app, while p90s are still significantly worse on Android mostly due to supporting a much broader variety of lower-end hardware available to support different price points for worldwide Android users.

Figure 8: App-Wide Scroll Performance Improvements & Different Feeds Impacted By the Compose Update

The R8 and Compose upgrades were non-trivial to deploy in relative isolation and stabilize, but we feel like we got great outcomes from this work for all teams who are adopting our modern tech stack and Compose. As teams adopt these modern technologies, they pick up these stability and performance improvements in their projects from the get-go, not to mention the significant improvements to the developer experience by working solely in modularized Kotlin, MVVM presentation patterns, Compose and GraphQL. It’s been nice to see these improvements not just land, but provide sustained improvements to the app experiences.

Startup and Baseline Profiles As the Cherry On Top of the Banana Split That Is Our Performance Strategy

Because we’ve invested in staying up-to-date in AGP and other critical dependencies, we are now much more capable of taking advantage of newer performance features and frameworks available to developers. Baseline profiles, for example, have been another way we have made strategic performance improvements to feature surfaces. You can read all about them on the Android website. 

Recently, Reddit introduced and integrated several Baseline Profiles on key user journeys in the app and saw some positive improvements to our performance metrics. Baseline profiles are easy to set up and leverage and sometimes demonstrate significant improvements to the app runtime performance. We did an audit of important user journeys and partnered with several orgs, from feeds and video to subreddit communities and ads, to leverage baseline profiles and see what sorts of improvements we might see. We’ve added a handful to the app so far and are still evaluating more opportunities to leverage them strategically. 

Adding a baseline profile to our community feed, for example, led to:

  • ~15% improvement in time-to-first-draw @ p50
  • ~10% improvement to time-to-interactive @ p50 
  • ~35% improvement in slow frames @ p50

We continue to look for more opportunities to leverage baseline profiles and ensure they are easy for teams to maintain. 

Cool Performance Metrics, But How Do Users Feel About Them?

Everyone always wants to know how these performance improvements impact business metrics and this is an area we are investing in a lot lately. Understanding how performance improvements translate into tangible benefits for our users and business metrics is crucial, and we are still not good at flexing this muscle. This is a focus of our ongoing collaboration with our data science team, as we strive to link enhancements in stability and performance to key metrics such as user growth, retention, and satisfaction. Right now? We really want to be able to stack rank the various performance issues we know about to better prioritize work.  

We do regularly get direct user validation for our improvements and Google Play insights can be of good use on that front. Here’s a striking example of this is the immediate correlation we observed between app-wide performance upgrades and a substantial increase in positive ratings and reviews on Google Play. Notably, these improvements had a particularly pronounced impact on users with lower-end devices globally, which aligns seamlessly with our commitment to building inclusive communities and delivering exceptional experiences to users everywhere.

Figure 9: Quelle Surprise: Reddit Users Like Performance Improvements

So What’s Next?

Android stability and performance at Reddit are at their best in years, but we recognize there is still much more to be done to deliver exceptional experiences to users. Our approach to metrics has evolved significantly, moving from a basic focus to a comprehensive evaluation of app health and performance. Over time, we’ve incorporated many other app health and performance signals and expanded our app health programs to address a wider range of issues, including ANRs, memory leaks, and battery life. Not all stability issues are weighted equally these days. We’ve started prioritizing user-facing defects much higher and built out deployment processes as well as automated bug triaging with on-call bots to help maintain engineering team awareness of production impacts to their features. Similarly on the performance metrics side, we moved beyond app start to also monitor scroll performance and address jank, closely monitor video performance, and we routinely deep-dive screen-based performance metric regressions to resolve feature-specific issues. 

Our mobile observability has given us the ability to know quickly when something is wrong, to root-cause quickly, and to tell when we’ve successfully resolved a stability or performance issue. We can also validate that updates we make, be it a Compose update or an Exoplayer upgrade, is delivering better results for our users and use that observability to go hunting for opportunities to improve experiences more strategically now that our app is modularized and sufficiently decoupled and abstracted. While we wouldn’t say our app stability and performance is stellar yet, we are on the right path and we’ve clawed our way up into the industry standard ranges amongst our peers from some abysmal numbers. Building out great operational processes, like deployment war rooms and better on-call programs has helped support better operational excellence around maintaining those app improvements and expanding upon them. 

These days, we have a really great mobile team that is committed to making Android awesome and keeping it that way, so if these sorts of projects sound like compelling challenges, please check out the open roles on our Careers page and come take Reddit to the next level. 

ACKs

These improvements could not have been achieved without the dedication and support of every Android developer at Reddit, as well as our leadership’s commitment to prioritizing stability and performance, and fostering a culture of quality across the business. We are also deeply grateful to our partners in performance on the Google Developer Relations team. Their insights and advice has been critical to our success in making improvements to Android performance at scale with more confidence. Finally, we appreciate that the broader Android community is open and has such a willingness to talk shop, and workshop insights, tooling ideas, architecture patterns and successful approaches to better serve value to Android users. Thank you for sharing what you can, when you can, and we hope our learnings at Reddit help others deliver better Android experiences as well.