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  • #381
  • Apr 13, 2021 3:05am Apr 13, 2021 3:05am
Quoting Basill
{quote} Simple. It keeps going up n up. The pull-backs are short & unpredictable.
ok fair enough ...

imo I do not like the long on indices I have started shorting some s&p let’s see how it plays out... today Cpi might be a bit of a decider short term
  • #382
  • Apr 13, 2021 3:09am Apr 13, 2021 3:09am
Quoting Basill
{quote} Having said that. Take care. The current Monthly candle has danger in it's tail. Could be a big drop next month.??
who knows really lol ... I just can’t be long although being short is painful right now as like you mentioned dips are shallow but i do like the short for the next few months or so
  • #383
  • Apr 13, 2021 4:47am Apr 13, 2021 4:47am
Quoting allinazi
{quote} who knows really lol ... I just can’t be long although being short is painful right now as like you mentioned dips are shallow but i do like the short for the next few months or so
I tend to look for setups in either direction.

Although when I'm starting off in a fresh account I am looking for somewhat of a trend continuation be it after a pullback or not.

The reason is simply that I want to start off at let's say 1 lot on a reasonable sized account and build into the position on favorable progress.

Choppy markets are less than ideal for this and so another strategy might need to be applied.

Largest volume thus far is 1 Lot but that's about to change.

Hold on tight !

Masterrmind ........
Master your Mind then Master your Trades
  • #384
  • Apr 13, 2021 7:07am Apr 13, 2021 7:07am
Quoting Masterrmind
{quote} I tend to look for setups in either direction. Although when I'm starting off in a fresh account I am looking for somewhat of a trend continuation be it after a pullback or not. The reason is simply that I want to start off at let's say 1 lot on a reasonable sized account and build into the position on favorable progress. Choppy markets are less than ideal for this and so another strategy might need to be applied. Largest volume thus far is 1 Lot but that's about to change. Hold on tight ! Masterrmind ........

I dont understand Masterrmind why you would start trading larger, but that is normal I do not know your systems workings...

I know you want to make it. But at this point I would think about the chances of making 12.5% vs 3 % and take the most probable route.

Perhaps next month will be a much better month for your system and your chances will be increased. I personnaly would not raise my risk but lower it to get to a bit above bE first, and accept a free retry, or be extremely lucky the market has resynced with my system well enough and start working with some positive compounding AFTER I am clear from BE. 2nd scenario would be impressive because of the time left of course.

Good luck dear fellow trader, and may THE DISCIPLINE be with you.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #385
  • Apr 13, 2021 8:57am Apr 13, 2021 8:57am
Quoting Masterrmind
{quote} Agreed. The time constraint can be a major hindrance and a reason for over trading on the aggressive side which puts the trader under slot of pressure. If I manage to get this account back into positive territory and time is against me I am likely to trade much larger position sizes in an aggressive manner but making sure that all stop outs still leave the account in positive equity. If time is running out and it's unlikely in my opinion that the account will be net positive prior to challenge end date then I may also trade hard. Let's see....
I believe in you...you can recover I'm sure.

Cheers.
  • #386
  • Apr 13, 2021 9:02am Apr 13, 2021 9:02am
Anyone else seeing all the people complaining about Theproptrading opening trades on their accounts scaling out then closes losses? Multiple accounts of people witnessing infront of their eyes this occurring. Pretty funny tbh, this firm looked scammy from day 1 and I think the only reason people used them was because they undercut the price.
  • #387
  • Apr 13, 2021 10:29am Apr 13, 2021 10:29am
Quoting Takisd
Anyone else seeing all the people complaining about Theproptrading opening trades on their accounts scaling out then closes losses? Multiple accounts of people witnessing infront of their eyes this occurring. Pretty funny tbh, this firm looked scammy from day 1 and I think the only reason people used them was because they undercut the price.
mine so far works fine. support is ok.i am reading the trustpilot reviews and get nervous but i'll how it plays out.

my only problem was that i could not place a sell limit on gu (only on gu) at some point and they offered to give me another account cause their broker could not identfy the problem.

one more thing i noticed is the ea's in the platform.

if you make the mistake and open them they open random trades. it opened up a prety big position on something early on in the challenge and i cut it with a loose costing me a little more than the spread.

also one more thing to notice, seems like for at least the first 3 months, the max lot size per instrument on the funded account is 10 lots (that sucks)

i will keep you updated on whatever happens, need to pass stage 2 for now
offering my system to copy trade. check my link
  • #388
  • Apr 13, 2021 9:35pm Apr 13, 2021 9:35pm
Time is money....

Dear fellow traders, could you help point me in the correction direction if these are my criteria/preferred:
1. Immediate profit-sharing (this is something FTMO doesn't have but 5ers offers)
2. Looser DD restrictions (5ers are super restricted)
3. Allow XAU/USD trading (5ers do not allow this, or am I outdated)
4. Allows holding of positions over weekend
5. Allows news trading.

I understand that it is impossible to fulfill all that I want, but if these are my preferences/objectives, which online prop firm would you recommend? Thank you.
  • #389
  • Apr 13, 2021 9:44pm Apr 13, 2021 9:44pm
Quoting kCBHk
Time is money.... Dear fellow traders, could you help point me in the correction direction if these are my criteria/preferred: 1. Immediate profit-sharing (this is something FTMO doesn't have but 5ers offers) 2. Looser DD restrictions (5ers are super restricted) 3. Allow XAU/USD trading (5ers do not allow this, or am I outdated) 4. Allows holding of positions over weekend 5. Allows news trading. I understand that it is impossible to fulfill all that I want, but if these are my preferences/objectives, which online prop firm would you recommend? Thank...
Theproptrading and myforexfunds tick all the boxes except immediate profit sharing. Even 5ers don't offer that from the get go, only from level 2 I think.

However, If you don't mind the consistency rules and the initial low profit share/bonus of 10%, Myforexfunds offers biweekly payments on their rapid accounts.

The fact that they meet your criteria doesn't mean they don't have serious cons that could discourage you though, so beware.

Last but not least, Fortis!!!
  • #390
  • Apr 13, 2021 9:51pm Apr 13, 2021 9:51pm
Quoting Koop
{quote} Theproptrading and myforexfunds tick all the boxes except immediate profit sharing. Even 5ers don't offer that from the get go, only from level 2 I think. However, If you don't mind the consistency rules and the initial low profit share/bonus of 10%, Myforexfunds offers biweekly payments on their rapid accounts. The fact that they meet your criteria doesn't mean they don't have serious cons that could discourage you though, so beware. Last but not least, Fortis!!!
Koop, you're on FTMO yourself right?

Wasn't there a recent complaint saying that MFF didn't pay out?
  • #391
  • Apr 13, 2021 10:00pm Apr 13, 2021 10:00pm
Quoting Koop
{quote} Theproptrading and myforexfunds tick all the boxes except immediate profit sharing. Even 5ers don't offer that from the get go, only from level 2 I think. However, If you don't mind the consistency rules and the initial low profit share/bonus of 10%, Myforexfunds offers biweekly payments on their rapid accounts. The fact that they meet your criteria doesn't mean they don't have serious cons that could discourage you though, so beware. Last but not least, Fortis!!!
Theproptrading seems to be better than FTMO? Leverage is 200x opposed to 100x (don't give me the bs about high leverage doesn't mean it is good; it is, because it gives you more buying power, whether you abuse it or not is your own issue). Fees seem to be lesser. Targets lower as well.

They could do a better job about telling us what are the brokers they work with though. I had to dig the FAQ to find out. Never heard of TheBrokersCapital as well.
  • #392
  • Apr 13, 2021 10:14pm Apr 13, 2021 10:14pm
man the prop trading is getting raked on social media for nasty shit.. stay away.
  • #393
  • Apr 13, 2021 10:26pm Apr 13, 2021 10:26pm
Quoting mtako
{quote} I dont understand Masterrmind why you would start trading larger, but that is normal I do not know your systems workings... I know you want to make it. But at this point I would think about the chances of making 12.5% vs 3 % and take the most probable route. Perhaps next month will be a much better month for your system and your chances will be increased. I personnaly would not raise my risk but lower it to get to a bit above bE first, and accept a free retry, or be extremely lucky the market has resynced with my system well enough and start...
There is absolutely no need for me to rush things.

Multiple options are available.

Masterrmind .......
Master your Mind then Master your Trades
  • #394
  • Apr 13, 2021 10:29pm Apr 13, 2021 10:29pm
Quoting Takisd
man the prop trading is getting raked on social media for nasty shit.. stay away.
What nasty shit? Do elaborate and share the links, thanks.
  • #395
  • Apr 13, 2021 10:31pm Apr 13, 2021 10:31pm
Quoting kCBHk
{quote} What nasty shit? Do elaborate and share the links, thanks.
people reporting that trades are magically appearing on their account infront of their eyes, specifically trades of large size on gold. I have seen at least 7 people report it. Its forex prop firms facebook group. Also their chat is apparently filled with that shit too. Staaaaaaaaaay awwwwaaaaaaaay
  • #396
  • Apr 13, 2021 10:32pm Apr 13, 2021 10:32pm
Quoting kCBHk
Time is money.... Dear fellow traders, could you help point me in the correction direction if these are my criteria/preferred: 1. Immediate profit-sharing (this is something FTMO doesn't have but 5ers offers) 2. Looser DD restrictions (5ers are super restricted) 3. Allow XAU/USD trading (5ers do not allow this, or am I outdated) 4. Allows holding of positions over weekend 5. Allows news trading. I understand that it is impossible to fulfill all that I want, but if these are my preferences/objectives, which online prop firm would you recommend? Thank...
The 5%ers/CTI and any similar model where the fee is larger than the DD can simply be replicated in a personal account without giving away any profit split. Just think about the position size you would need to trade with $400 DD (10K eval) or $800 DD (20K eval). The fee they are charging for that is $450 and $875. If you put that in a personal account, you will make the same profit. Simply use a risk of ruin of 5%, you can risk $20 or $40 per trade with them and $22.50 or $43.75 per trade on your own. The scaling is the marketing genius, as they scale you, DD is still 4%. So once they give you the $80K account, you now need to earn $8K for next scale up using $1600, it's not 10%, it's 400%. By stage 3 , your personal account is larger than the DD offered. They essentially are having you fund your own account and keeping 50% for granting you that privilege.

For me, FTMO/Enfoid model are the only way, with possibly MFF after they prove themselves. Seeing $35 and $80 payouts just doesn't give me the confidence they can pay $48K when someone hits 20% on a 300K account. The prop funding I believe is a 100% scam.
  • #397
  • Apr 13, 2021 10:36pm Apr 13, 2021 10:36pm
Quoting Takisd
{quote} people reporting that trades are magically appearing on their account infront of their eyes, specifically trades of large size on gold. I have seen at least 7 people report it. Its forex prop firms facebook group. Also their chat is apparently filled with that shit too. Staaaaaaaaaay awwwwaaaaaaaay
Thanks. Appreciated.
  • #398
  • Apr 13, 2021 10:39pm Apr 13, 2021 10:39pm
Quoting pipmaster77
The 5%ers/CTI and any similar model where the fee is larger than the DD can simply be replicated in a personal account without giving away any profit split. Just think about the position size you would need to trade with $400 DD (10K eval) or $800 DD (20K eval). The fee they are charging for that is $450 and $875. If you put that in a personal account, you will make the same profit. Simply use a risk of ruin of 5%, you can risk $20 or $40 per trade with them and $22.50 or $43.75 per trade on your own. The scaling is the marketing genius, as they...
Yes, very smart maths, not everyone realizes this.

Quoting pipmaster77
For me, FTMO/Enfoid model are the only way, with possibly MFF after they prove themselves. Seeing $35 and $80 payouts just doesn't give me the confidence they can pay $48K when someone hits 20% on a 300K account. The prop funding I believe is a 100% scam.
I believe so as well, which is why I'm really not that keen to embark on it.
  • #399
  • Apr 13, 2021 11:02pm Apr 13, 2021 11:02pm
Quoting kCBHk
{quote} Koop, you're on FTMO yourself right? Wasn't there a recent complaint saying that MFF didn't pay out?
Not yet with FTMO, haven't even taken a challenge yet.
But straight off the dome I wouldn't recommend trying any firm other than FTMO solely based on the fact that they've proven themselves capable of paying Traders, and not just tens or hundreds of dollars like MFF.

Only reason I mentioned those other guys was because of the whole news/weekend trading you required.
As others have said, it's best to avoid theproptrading for now..... If I had to choose between the evils, MFF would be the lesser evil among the two I suggested.
  • #400
  • Apr 13, 2021 11:05pm Apr 13, 2021 11:05pm
Quoting Koop
{quote} Not yet with FTMO, haven't even taken a challenge yet. But straight off the dome I wouldn't recommend trying any firm other than FTMO solely based on the fact that they've proven themselves capable of paying Traders, and not just tens or hundreds of dollars like MFF. Only reason I mentioned those other guys was because of the whole news/weekend trading you required. As others have said, it's best to avoid theproptrading for now..... If I had to choose between the evils, MFF would be the lesser evil among the two I suggested.
What's your take on social trading platforms? Essentially, what do you propose to someone who wants more trading capital?
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