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  • #1,101
  • May 18, 2021 3:06pm May 18, 2021 3:06pm
My turn. I completely flubbed my FTMO 100k challenge today. Had a big fat loss (in stages, not all at once). The largest one I've had in at least 5 years. My psychology today was completely messed up.

In remembering how my morning went, it feels a bit like self-sabotage. I just had 4 consecutive good days. I was within reach. 8 trading days left to make $3k. This is after I started in the hole on Day 1 and came back and traded okay after that. It was doable. As long as I didn't screw up.

Being completely honest, my trading in this challenge has not been my best. Nowhere close. Closed winners too early. Took many BEs. Overtraded. Fear. Despite that, passing the challenge appeared doable.

I passed 2 free trials (one was 'aggressive version' - ran it up to 11k) and also practised on my personal demo, this 'for real' challenge has really done a number on my psyche.

Back to the drawing board. I will get a free challenge after this one officially ends. Yay. (Gratitude mixed with heavy sarcasm.)
  • #1,102
  • May 18, 2021 4:19pm May 18, 2021 4:19pm
Quoting Koop
{quote} Oh damn man, sorry to hear about the FTMO, thought you still had it. Well, if i remember correctly you once got a payout of over $15k+ right? Good risk to reward. I hope you didn't spend it all on new challenges. And the Fxseed thing is a little confusing. do they refund you even if you fail a challenge? How are they allowing you take a free retry?
i kept 25% on the side for forex from what i withdrew. bought a car, spent some on the house, paid a full years rent just for piece of mind instead of paying it monthly.
the car aside witch i didnt want nor needed (but my girl wanted me to buy one for the past 4 years) its bee in good use.

it was a lot more than 15k$

but basically since february i havent had a single payment apart from my live account (that is small truth be told) witch i am just compounding little by little

i might just get a refund +10% this month from fxseed and go to its daddy, traders central capital. if you meet the target but they dont like ur strategy u get refund +10%, prety simple. if i dont meet the 10% i'll just do another free retry

the important thing is that i dont loose anymore so a few mods here n there, some mind relief of stupid trades, should do it. i still have 1.5 year to fullfil my plan in time

Quoting ForexGalVA
My turn. I completely flubbed my FTMO 100k challenge today. Had a big fat loss (in stages, not all at once). The largest one I've had in at least 5 years. My psychology today was completely messed up. In remembering how my morning went, it feels a bit like self-sabotage. I just had 4 consecutive good days. I was within reach. 8 trading days left to make $3k. This is after I started in the hole on Day 1 and came back and traded okay after that. It was doable. As long as I didn't screw up. Being completely honest, my trading in this challenge has...
if you have something that works, do not go on the drawing board. trust it and forgt emotions, be a robot.

good luck on the next one
offering my system to copy trade. check my link
  • #1,103
  • Edited 10:45pm May 18, 2021 6:50pm | Edited 10:45pm
Tbh, I've resolved to focus on trading only my Lux account and not look at any other prop firm offerings.

I just don't want to be tempted to give in (again!) to the so-called "shiny object syndrome." Sure, some people can multi-task esp those using EA's or trade-copiers on their accounts with various prop firms.

However, I'm sadly not one of them. I find that it lessens my motivation to do my best if my mindset is that there's always another, better prop shop around the corner to try out in case I fail this current one.
Amor Fati--F. Nietzsche
  • #1,104
  • May 18, 2021 7:02pm May 18, 2021 7:02pm
Quoting nikosk0
{quote} i kept 25% on the side for forex from what i withdrew. bought a car, spent some on the house, paid a full years rent just for piece of mind instead of paying it monthly. the car aside witch i didnt want nor needed (but my girl wanted me to buy one for the past 4 years) its bee in good use. it was a lot more than 15k$ but basically since february i havent had a single payment apart from my live account (that is small truth be told) witch i am just compounding little by little i might just get a refund +10% this month from fxseed and go to...
and go to its daddy, traders central capital.

Now this one bears some thought.
10% DD (On closed trades) Gotta be a plus there.
Monthly sub' But Only need less than 1% profit to pay for that.
Gold trading allowed.
Weekend hold overs allowed
leverage sucks & profit share minimal. However the "Rules" are better than most. No "relative DD bull-shit.
Gunna think serious on this one.

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Look Left Trade Right
  • #1,105
  • May 18, 2021 7:17pm May 18, 2021 7:17pm
Quoting Basill
{quote} and go to its daddy, traders central capital. Now this one bears some thought. 10% DD (On closed trades) Gotta be a plus there. Monthly sub' But Only need less than 1% profit to pay for that. Gold trading allowed. Weekend hold overs allowed leverage sucks & profit share minimal. However the "Rules" are better than most. No "relative DD bull-shit. Gunna think serious on this one. {image}

I will get two accounts. All in long on 1, all in short on the other. I will not close ever to break dd rule....

Hopefully this helps with clarity on how stupid that program is. Also 1:3 leverage is absolute ass.
  • #1,106
  • May 18, 2021 7:56pm May 18, 2021 7:56pm
Quoting Koop
{quote} Check out Jeffery Benson on YouTube. FTMO and Theproptrading funded trader from Nigeria. He occasionally does the account flipping thing. I think I've seen him do $75 to $1000 and a couple others. He shows the daily progress and even withdrawal from broker. People do it, but because it involves over leveraging, you can be sure that for every $50 account they manage to multiply, they must have lost or failed 5 or 10 acoounts previously until they get one trade or two in a row that skyrocket on a new account. Best way to grow a small account...
One idea that very few use is to consistently keep adding fresh capital to the account on say a weekly, fortnightly or monthly basis.

This might also help to minimize any current floating DD.

Most don't apply this building process because too often they want to go from zero to Hero in as fast a time as possible.

Masterrmind ........
Master your Mind then Master your Trades
  • #1,107
  • Edited 3:33am May 19, 2021 3:18am | Edited 3:33am
@Koop you are right. Small accounts = annoyingly small gains even if they do look good % wise
Most people I know are interested to see how a 10k account becomes 50k asap. Nobody is interested in see a $100 account turn into $500 even though both are 500%

Quoting Koop
{quote} Check out Jeffery Benson on YouTube. FTMO and Theproptrading funded trader from Nigeria. He occasionally does the account flipping thing. I think I've seen him do $75 to $1000 and a couple others. He shows the daily progress and even withdrawal from broker. People do it, but because it involves over leveraging, you can be sure that for every $50 account they manage to multiply, they must have lost or failed 5 or 10 acoounts previously until they get one trade or two in a row that skyrocket on a new account. Best way to grow a small account...
Exactly. Btw TST used to have something similar... even if you are overall profitable, they could fail you due to that need to be majority positive in your number of trades. I heard they changed this rule later, but it is unfair to the older combine-takers.

Quoting Koop
{quote} Lol that 50% positive rule is the most ridiculous rule ever. It's almost as if the people who impose it have never traded a day in their lives.
------

Doing it though gotta admit small account is better off cos I can trade commodities there (like crude) but can't do it in 5ers

Quoting pipmaster77
Very simple to find the answer.... Buy a $10K eval at the 5%ers and put the same $450 in a personal account. Use a copy trader and risk the same % of "risk of ruin" in both.
  • #1,108
  • May 19, 2021 3:28am May 19, 2021 3:28am
This is getting completely ridiculous

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  • #1,109
  • May 19, 2021 3:47am May 19, 2021 3:47am
Quoting Basill
{quote} and go to its daddy, traders central capital. Now this one bears some thought. 10% DD (On closed trades) Gotta be a plus there. Monthly sub' But Only need less than 1% profit to pay for that. Gold trading allowed. Weekend hold overs allowed leverage sucks & profit share minimal. However the "Rules" are better than most. No "relative DD bull-shit. Gunna think serious on this one. {image}
was talking about the one time fee challenge, not the monthly plan ( i dont like any of those)
offering my system to copy trade. check my link
  • #1,110
  • May 19, 2021 3:52am May 19, 2021 3:52am
Quoting tradista
This is getting completely ridiculous {image}

Thanks

My Gran, who has a background in competitive knitting, has decided to transfer her skills into the funding biz, I'll send the link to that site.

keep an eye out for the website, "Gotcha Funding"...which is quite catchy I think.
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  • #1,111
  • May 19, 2021 4:19am May 19, 2021 4:19am
Quoting Le.Metier
{quote} Thanks My Gran, who has a background in competitive knitting, has decided to transfer her skills into the funding biz, I'll send the link to that site. keep an eye out for the website, "Gotcha Funding"...which is quite catchy I think. {image}
That's the most appealing prop firm name I've heard up until now!!
Make sure your Gran gets the domain name right so it looks pro
  • #1,112
  • May 19, 2021 4:35am May 19, 2021 4:35am
Quoting tradista
{quote} That's the most appealing prop firm name I've heard up until now!! Make sure your Gran gets the domain name right so it looks pro
Get her interviewed by Blake, too, don't forget. :
Amor Fati--F. Nietzsche
  • #1,113
  • Edited 6:13am May 19, 2021 4:49am | Edited 6:13am
Quoting doji
{quote} Get her interviewed by Blake, too, don't forget. :
Yeah, absolutely agree, that's the best way to earn a trustworthy reputation super fast, also she should make sure to allow for a discount code
  • #1,114
  • May 19, 2021 6:25am May 19, 2021 6:25am
Quoting tradista
This is getting completely ridiculous {image}
The shine has worn off for me regarding fund providers. I was initially enthusiastic but now that it is quickly being appropriated by unscrupulous types, plus the fact we are all likely on demo, I don’t see this business model having much of a future.

Regardless, if you are a “skilled” trader with long-term potential you will find funding from a real prop firm, ie one that places your orders in a real market.
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  • #1,115
  • May 19, 2021 6:41am May 19, 2021 6:41am
Quoting MaryAnne
@Koop you are right. Small accounts = annoyingly small gains even if they do look good % wise Most people I know are interested to see how a 10k account becomes 50k asap. Nobody is interested in see a $100 account turn into $500 even though both are 500% {quote} Exactly. Btw TST used to have something similar... even if you are overall profitable, they could fail you due to that need to be majority positive in your number of trades. I heard they changed this rule later, but it is unfair to the older combine-takers....
Lol yeah, even FTMO initially had the 50% positive days rule. Scrapped long ago.
Talking about TST (Theproptrading) (not Topstep), I just read reviews saying that once one gets funded certain limitations are imposed on the funded account. Max lot sizes for 3 months to "monitor consistency" .. Smh
Then when it's time for profit splits, taxes are deducted from 80% owed to the trader and all they're left with eventually is 59%.
None of these is stated before taking the evaluation. Really really shady.


Regarding small accounts... Been there (still there), I practically have to risk between 5-7% of my account to make anything worthwhile. It's why I tend to hold trades a bit longer. Not fun at all.
  • #1,116
  • May 19, 2021 7:06am May 19, 2021 7:06am
Quoting Le.Metier
{quote} The shine has worn off for me regarding fund providers. I was initially enthusiastic but now that it is quickly being appropriated by unscrupulous types, plus the fact we are all likely on demo, I don’t see this business model having much of a future. Regardless, if you are a “skilled” trader with long-term potential you will find funding from a real prop firm, ie one that places your orders in a real market. {image}
Yeah, I'm having a dry feeling of disgust right now with each new player popping-up everyday that clearly are just going after retail sign up fees and do not even intend to put any money of theirs (which they don't certainly have) on the line. You can smell the fish from far away.

For me FTMO is the only one standing right now, althought they might go down the same route in the future, who knows, but I'm more and more inclined to moving away from this "pseudo-prop-firms" industry, as the niche becomes too shark infested. I'm in this for the long run and don't want anything to do with shady businesses like that.

The only good thing is, anyone who can actually trade profitably and owns a good track record will always get the interest of investors, one way or another.
I'm still hopeful that actual *real* trading firms decide to go online over time and allow for remote traders to work for them along with the ones on their trading desks.
  • #1,117
  • May 19, 2021 7:07am May 19, 2021 7:07am
Quoting tradista
This is getting completely ridiculous {image}
Yes, I get this email at least once a week. They are literally "franchising" prop firms.
  • #1,118
  • May 19, 2021 7:08am May 19, 2021 7:08am
Quoting Le.Metier
{quote} Thanks My Gran, who has a background in competitive knitting, has decided to transfer her skills into the funding biz, I'll send the link to that site. keep an eye out for the website, "Gotcha Funding"...which is quite catchy I think. {image}
This is awesome. Actually looks like some Of Blake's videos with some of the new prop firm "owners"
  • #1,119
  • May 19, 2021 7:10am May 19, 2021 7:10am
Quoting Koop
{quote} Lol yeah, even FTMO initially had the 50% positive days rule. Scrapped long ago. Talking about TST (Theproptrading) (not Topstep), I just read reviews saying that once one gets funded certain limitations are imposed on the funded account. Max lot sizes for 3 months to "monitor consistency" .. Smh Then when it's time for profit splits, taxes are deducted from 80% owed to the trader and all they're left with eventually is 59%. None of these is stated before taking the evaluation. Really really shady. Regarding small accounts... Been there...
Plus, you are not an employee.....They cannot tax you.
  • #1,120
  • May 19, 2021 7:16am May 19, 2021 7:16am
Quoting tradista
{quote} Yeah, I'm having a dry feeling of disgust right now with each new player popping-up everyday that just clearly go after retail sign up fees and nothing else. It is getting crowded and you can smell the fish all over the place. For me FTMO is the only one standing right now, althought they might go down the same route in the future, who knows, but I'm more and more inclined to moving away from this "pseudo-prop-firms" industry, as the niche becomes too shark infested. I'm in this for the long run and don't want anything to do with shady businesses...
Yes, my issue with that is it will never be offered in the US. Just like we cannot trade with a "real" broker. Just these shady market maker brokers that do what they want because they've been around forever and have the CFTC in their pocket. So I need prop firms. On a side note, I am quite impressed with MFF, despite my initial hesitation. There is 24/7 support on discord. They actually go on there and disclose the numbers on the live accounts and advice on what successful and unsuccessful traders are doing and basically how to not lose your account. It sure does appear they have an interest in every one being successful. I'm in an eval now and going to run them alongside FTMO once I pass. They are also paying 2% of stage 1 and 4% of stage 2 and 112% back on your fee with your first split.
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