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  • #2,401
  • Jul 18, 2021 9:03pm Jul 18, 2021 9:03pm
Quoting Miksiu
{quote} you asked support.. by phone??? or a telegraph??
Logged on to my Lux dashboard and chatted with their live support staff.
Amor Fati--F. Nietzsche
  • #2,402
  • Jul 18, 2021 9:26pm Jul 18, 2021 9:26pm
Quoting Fml
{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.
so master, how's is your stay LONG for EURUSD since June 24, you must be begging in million of eur0 from your stay long
  • #2,403
  • Jul 18, 2021 9:35pm Jul 18, 2021 9:35pm
Quoting Fml
{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.
Since it is clear you know nothing and just going from thread to thread blabbing your full of about spot,
take your little shovel and your pale and go play in your little sandbox!!
And let us amateur's make or little money.... common go.... go... boy....go....
Those who don't believe in magic will never find it
  • #2,404
  • Jul 18, 2021 11:02pm Jul 18, 2021 11:02pm
Hello,

My understanding of daily drawdown on the two firms is,
For MFF, reduction in previous day profits is considered drawdown. But for FTMO, reduction in previous day profits is not considered drawdown.

Example
Starting Equity: $105,000
Starting Balance: $100,000

MFF's daily drawdown limit is $5,250. FTMO's daily drawdown limit is $5,000

If Equity is now $99,750
MFF's daily drawdown limit is left 0. FTMO's daily drawdown limit is left 4750.

Thanks
"The markets can remain irrational longer than you can remain solv
  • #2,405
  • Jul 19, 2021 1:46am Jul 19, 2021 1:46am
Quoting shyean
Hello, My understanding of daily drawdown on the two firms is, For MFF, reduction in previous day profits is considered drawdown. But for FTMO, reduction in previous day profits is not considered drawdown. Example Starting Equity: $105,000 Starting Balance: $100,000 MFF's daily drawdown limit is $5,250. FTMO's daily drawdown limit is $5,000 If Equity is now $99,750 MFF's daily drawdown limit is left 0. FTMO's daily drawdown limit is left 4750. Thanks

You are quite right mate. Some people on this thread never passed maths at school I'm afraid.

Your example also holds true for FT as well.
  • #2,406
  • Jul 19, 2021 2:18am Jul 19, 2021 2:18am
Quoting doji
{quote} Tier1FX has the glitchiest MT4 platform I've ever come across bar none. For instance, just a short while ago, I asked Lux Support to set a TP on a trade I made because MT4 is frozen again. But there's good news: Lux is switching over to a much better broker in 14 days, I learned from our chat.
It'll be Global Prime
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  • #2,407
  • Jul 19, 2021 2:38am Jul 19, 2021 2:38am
Quoting mcquak
{quote} It'll be Global Prime {image}
Would be a good move.
  • #2,408
  • Jul 19, 2021 2:51am Jul 19, 2021 2:51am
Quoting Koop
{quote} Would be a good move.
Definitely, IMO Global Prime is a trustable solid broker.
  • #2,409
  • Jul 19, 2021 4:58am Jul 19, 2021 4:58am
Quoting Fml
{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.
I asked which one is it. You completely ignored my question lol
  • #2,410
  • Jul 19, 2021 5:49am Jul 19, 2021 5:49am
Quoting Fml
Do you people realize that only one that list is a legitimately registered prop firm and they don't even trade spot fx. This is astonishing. I skimmed it quickly but more importantly is why you people are making yourselves so vulnerable and ready for disappointment. There's a massive amount of self injustice here due to the lack of what trading spot really is.
You are bringing nothing of value to this 'great' thread.

You have no idea what some traders here in this thread have taken out of Prop Firm participation in terms of experience and profit.

No trader is under any obligation to show or prove anything to anyone especially you !

Prop Firm challenges are best left for traders who are profitable using their own live accounts and have the available risk capital to play in the Prop Firm arena be it unregulated at that.

We are prepared to lose the risk capital for a chance of adding in additional capital that generates profit.

Risk Capital ... Risk Capital ... Risk Capital

Understand now ?

Masterrmind .........
Master your Mind then Master your Trades
  • #2,411
  • Jul 19, 2021 6:24am Jul 19, 2021 6:24am
Hello everyone. I was looking to join lux maybe in the next month. Can anyone of you help me understand 4% RELATIVE DD means?
  • #2,412
  • Jul 19, 2021 6:44am Jul 19, 2021 6:44am
It means the 4% DD is computed from your highest account balance, not from your initial capital.

So if you're trading the 5k account and you gained $200, your allowed DD would be: 5200 X .04= $208. Therefore, your account can't go below $4992.

Their dashboard will show the numbers so no need to do your own computation.
Amor Fati--F. Nietzsche
  • #2,413
  • Jul 19, 2021 7:37am Jul 19, 2021 7:37am
Quoting Mtinifx
{quote} You are quite right mate. Some people on this thread never passed maths at school I'm afraid. Your example also holds true for FT as well.
So, if balance is 100,000 and equity is 105,000, I can't lose 5250 in addition to the 5K on MFF. I have passed 2 100K challenges with them and wasn't even aware, 2 reasons:

1. I never even approaching anything close to these numbers
2. I never leave anything open beyond + or - a few hundred dollars

That's very interesting info though

So, based on this info, obviously never leave anything open at rollover with MFF. Close and reopen.
  • #2,414
  • Jul 19, 2021 7:47am Jul 19, 2021 7:47am
Quoting pipmaster77
{quote} So, if balance is 100,000 and equity is 105,000, I can't lose 5250 in addition to the 5K on MFF. I have passed 2 100K challenges with them and wasn't even aware, 2 reasons: 1. I never even approaching anything close to these numbers 2. I never leave anything open beyond + or - a few hundred dollars That's very interesting info though So, based on this info, obviously never leave anything open at rollover with MFF. Close and reopen.

You can so long as a new day hasn't started. The new day reset the equity calculation.

Its written on the website.

On FTMO for example, only negative equity counts. So if you hold the trade over 2 days and the equity shrinks on the second day, your calculation will be changed similarly to MFF but on positive equity at rollover it is not the case at FTMO.
  • #2,415
  • Jul 19, 2021 8:23am Jul 19, 2021 8:23am
Quoting Takisd
{quote} You can so long as a new day hasn't started. The new day reset the equity calculation. Its written on the website. On FTMO for example, only negative equity counts. So if you hold the trade over 2 days and the equity shrinks on the second day, your calculation will be changed similarly to MFF but on positive equity at rollover it is not the case at FTMO.
I guess I just trade and don't pay much attention. I just simply never approach the limits....makes life way simpler.
  • #2,416
  • Jul 19, 2021 8:26am Jul 19, 2021 8:26am
Quoting pipmaster77
{quote} I guess I just trade and don't pay much attention. I just simply never approach the limits....makes life way simpler.

Its really funny because the whole positive equity scenario comes up all the time. But how many people are holding 5% profit overnight regularly? I'll tell you how many.... 0.. maybe 1 and that guy should probably go work in a bank and not an online prop firm because a 5% profit in a day is insanely good if you can do it regularly.
  • #2,417
  • Jul 19, 2021 9:02am Jul 19, 2021 9:02am
Quoting pipmaster77
{quote} So, if balance is 100,000 and equity is 105,000, I can't lose 5250 in addition to the 5K on MFF. I have passed 2 100K challenges with them and wasn't even aware, 2 reasons: 1. I never even approaching anything close to these numbers 2. I never leave anything open beyond + or - a few hundred dollars That's very interesting info though So, based on this info, obviously never leave anything open at rollover with MFF. Close and reopen.
Yes that is the answer to the problem

I don't even think that Myff allow more then a $5000 DD at any time on a 100k account. In other words, let's say you add $2000 on the day and your balance stands at $102000, you can then not go below $97000. Whereas when you started the day, your limit was $95000. Rather ridiculous in my view which is why I don't like their challenge DD rules.

But of course if one is never going to test the limits then it's not going to be a problem.

One has to remember of course that it carries through to Live account . You have to live with it for as long as you're in the game.
  • #2,418
  • Jul 19, 2021 9:07am Jul 19, 2021 9:07am
Quoting Mtinifx
{quote} Yes that is the answer to the problem I don't even think that Myff allow more then a $5000 DD at any time on a 100k account. In other words, let's say you add $2000 on the day and your balance stands at $102000, you can then not go below $97000. Whereas when you started the day, your limit was $95000. Rather ridiculous in my view which is why I don't like their challenge DD rules. But of course if one is never going to test the limits then it's not going to be a problem. One has to remember of course that it carries...

You can lose the profits you have made in the same day. I have already told you I have done that plenty of tuesdays. It only resets at 00:00 from what it was at the previous 00:00 .
  • #2,419
  • Jul 19, 2021 9:16am Jul 19, 2021 9:16am
Quoting Mtinifx
{quote} Yes that is the answer to the problem I don't even think that Myff allow more then a $5000 DD at any time on a 100k account. In other words, let's say you add $2000 on the day and your balance stands at $102000, you can then not go below $97000. Whereas when you started the day, your limit was $95000. Rather ridiculous in my view which is why I don't like their challenge DD rules. But of course if one is never going to test the limits then it's not going to be a problem. One has to remember of course that it carries...
No worries, my risk will be further reduced on live account. When you trade 1 mil, risk can go way down.
  • #2,420
  • Jul 19, 2021 9:18am Jul 19, 2021 9:18am
Quoting Takisd
{quote} Its really funny because the whole positive equity scenario comes up all the time. But how many people are holding 5% profit overnight regularly? I'll tell you how many.... 0.. maybe 1 and that guy should probably go work in a bank and not an online prop firm because a 5% profit in a day is insanely good if you can do it regularly.
Just like if you're losing 5% in a day, if you're gaining 5% in a day, THE POSITIONS ARE WAY TOO LARGE!!!!!!! Maybe why so many fail these challenges.
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