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  • #3,921
  • Sep 18, 2021 11:12pm Sep 18, 2021 11:12pm
Funded Academy

New kid on the block with a new model. They have the traditional challenge model but they have an interesting low-risk way for traders to earn a free challenge. Registered in NSW on July 29th.

They allow you to use Trader's way, Fxchoice, or Tc Bridge to trade your own money to try and earn the free challenge.

Taksid, if you're feeling well enough and have some free time could you rip this company to shreds for us. Thanks in advance.

https://www.fundedacademy.com.au/own-deposit-program
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It's almost like they are specifically catering to my deepest darkest fantasies.

From their FAQ
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Pride always comes before destruction.... -Proverbs 16:18
  • #3,922
  • Sep 18, 2021 11:35pm Sep 18, 2021 11:35pm
broker tcbridge.. i saw this name on traders central site so probably another "white label" .

edit: fxseed or myfxseed was their baby too.. probably the same people.
  • #3,923
  • Sep 18, 2021 11:36pm Sep 18, 2021 11:36pm
Quoting Expo33
Funded Academy New kid on the block with a new model. They have the traditional challenge model but they have an interesting low-risk way for traders to earn a free challenge. Registered in NSW on July 29th. They allow you to use Trader's way, Fxchoice, or Tc Bridge to trade your own money to try and earn the free challenge. Taksid, if you're feeling well enough and have some free time could you rip this company to shreds for us. Thanks in advance. https://www.fundedacademy.com.au/own-deposit-program {image} It's almost like they are...
I'm up late on a Saturday night/Sunday morning.

https://static.wixstatic.com/media/1...8dcbec~mv2.png

It's Trader,s central in disguise
  • #3,924
  • Sep 18, 2021 11:37pm Sep 18, 2021 11:37pm
Quoting Miksiu
broker tcbridge.. i saw this name on traders central site so probably another "white label" .
Nice, just posted the same. Good catch.
  • #3,925
  • Sep 19, 2021 1:17am Sep 19, 2021 1:17am
Quoting Expo33
Funded Academy New kid on the block with a new model. They have the traditional challenge model but they have an interesting low-risk way for traders to earn a free challenge. Registered in NSW on July 29th. They allow you to use Trader's way, Fxchoice, or Tc Bridge to trade your own money to try and earn the free challenge. Taksid, if you're feeling well enough and have some free time could you rip this company to shreds for us. Thanks in advance. https://www.fundedacademy.com.au/own-deposit-program {image} It's almost like they are...
8% in 60 days using own capital. Have to give this a go.
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Trading is SIMPLE not EASY.
  • #3,926
  • Sep 19, 2021 1:25am Sep 19, 2021 1:25am
MFF Challenges

$100K :: BE+ [most likely will opt for the free retake unless I manage to get the 200K account back to BE or hit PT early in the week]

$200K :: ~4.1% ($8264.59) under water.

I have about 3 trading days left to turn the 200K challenge around so time is against me.

Since time is against me I have only a few options:

1. Trade at 'reasonable' volume and attempt to get the account back to $200000 over a 3 day period for a free retake;

2. Trade at 'significantly' higher volume and use most of the allowable daily DD as my stop (MFF Daily DD = 5% of Equity or Balance whichever is the higher so for my challenge both Balance and Equity are $191 735.41 hence Daily DD allowed is $9605.94) making sure to keep within the Overall Equity Stopout level on each remaining day with the ultimate goal being to hit PT;

3. Consider the Overall Equity Stopout currently $175980 which is $15755.41 below current Equity. The Daily DD could be split between the 3 remaining trading days which would be $15755.41/3 which is $5251.80 but this will vary based on daily profit/loss made; or

4. Do nothing and offer up the account as a learning experience (clearly not a smart option - definite no here).

I'll post later what my approach will be but others are welcome to give their views.

Masterrmind...........
Master your Mind then Master your Trades
  • #3,927
  • Sep 19, 2021 1:31am Sep 19, 2021 1:31am
Quoting Masterrmind
MFF Challenges $100K :: BE+ [most likely will opt for the free retake unless I manage to get the 200K account back to BE or hit PT early in the week] $200K :: ~4.1% under water. I have about 3 trading days left to turn the 200K challenge around so time is against me. Since time is against me I have only a few options: 1. Trade at 'reasonable' volume and attempt to get the account back to $200000 over a 3 day period for a free retake; 2. Trade at 'significantly' higher volume and use most of the allowable daily DD as my stop (MFF Daily DD = 5% of...
When the market opens tomorrow, I am sure you will know which option you going to go with.
All the best for whichever option you select.
Trading is SIMPLE not EASY.
  • #3,928
  • Sep 19, 2021 1:39am Sep 19, 2021 1:39am
Quoting garfield75
{quote} When the market opens tomorrow, I am sure you will know which option you going to go with. All the best for whichever option you select.
Yes already know which option but it will be cemented once I see the charts.

Symbol will be Gold.

20 lots on Gold over a ~$12.13 favorable asset move and PT is hit !

On the flip side it only takes about a $4.50 asset move against me and I'm out for the day !

If it pear shapes then I start the next day and have another go.

Masterrmind............
Master your Mind then Master your Trades
  • #3,929
  • Sep 19, 2021 2:07am Sep 19, 2021 2:07am
Quoting Masterrmind
{quote} Yes already know which option but it will be cemented once I see the charts. Symbol will be Gold. 20 lots on Gold over a ~$12.13 favorable asset move and PT is hit ! On the flip side it only takes about a $4.50 asset move against me and I'm out for the day ! If it pear shapes then I start the next day and have another go. Masterrmind............
Fingers crossed! Do you bet on golds recovery next week or you decide according to the price action? Pitty MFF does not offer weekend crypto trading (i guess)
Money is made by sitting, not trading
  • #3,930
  • Sep 19, 2021 2:37am Sep 19, 2021 2:37am
Curious if anyone has researched this new firm:

https://blueedgefinancial.com/funding/

These two things are very interesting, for me personally:

1. No daily or relative draw-down, so any accumulated profits can significantly increase draw-down protection.
2. 10% profit target to double account size, so a 200K account could get you to 1M after hitting 10% only two times.

That being said, the spreads for indices are not very competitive. I asked about the option to roll-over partial profits for additional draw-down protection, but I was told that they would need to discuss it and get back to me. They only have MT5, which is actually okay for me. They also do not have a bank wire option yet, which I also asked them about, so hopefully they will consider it. Overall, their support has been great so far, based on my interactions with them, unlike many of the other firms that only leave you frustrated.

Either way, it is so great to see more competition entering this space. I really hope that this absolute draw-down and fast scaling catches on. There has never been a better time in history to be a trader.
  • #3,931
  • Sep 19, 2021 2:57am Sep 19, 2021 2:57am
Current Status
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Trading is SIMPLE not EASY.
  • #3,932
  • Sep 19, 2021 3:57am Sep 19, 2021 3:57am
This is interesting response. Self funded free account might be a marketing stunt based on their response. ASIC doesnt care if I have 1 or 10 accounts with brokers.
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Trading is SIMPLE not EASY.
  • #3,933
  • Sep 19, 2021 5:47am Sep 19, 2021 5:47am
Quoting Vitore
{quote} Fingers crossed! Do you bet on golds recovery next week or you decide according to the price action? Pitty MFF does not offer weekend crypto trading (i guess)
Yes certainly a weekend trading opportunity might be useful but with MFF not possible.

As for Gold my analysis has it on a longer term pivot.

It could go either way short term.

I'll see how it's moving early on and if there's an opportunity to get into a trade.

TE will show the trade.

Masterrmind .........
Master your Mind then Master your Trades
  • #3,934
  • Sep 19, 2021 6:09am Sep 19, 2021 6:09am
Quoting Masterrmind
{quote} Yes certainly a weekend trading opportunity might be useful but with MFF not possible. As for Gold my analysis has it on a longer term pivot. It could go either way short term. I'll see how it's moving early on and if there's an opportunity to get into a trade. TE will show the trade. Masterrmind .........
Maybe trade as you would on any normal day for the first two days... Then YOLO the account with the highest lot size possible on the last day, especially if you would be losing it anyways.
Good Luck.

May also be best to focus of the currently available accounts before thinking of purchasing another..The pressure can be overwhelming.
  • #3,935
  • Sep 19, 2021 6:18am Sep 19, 2021 6:18am
Quoting Koop
{quote} Maybe trade as you would on any normal day for the first two days... Then YOLO the account with the highest lot size possible on the last day, especially if you would be losing it anyways. Good Luck. May also be best to focus of the currently available accounts before thinking of purchasing another..The pressure can be overwhelming.
Certainly if hitting the target is achieved under these conditions it's not really good trading rather it's simply good fortune.

Let's see how the 1st and 2nd days pan out.

Hold on tight !

ps. Post 1 shows what happened to the other accounts.

Masterrmind .........
Master your Mind then Master your Trades
  • #3,936
  • Sep 19, 2021 7:00am Sep 19, 2021 7:00am
Quoting mcquak
{quote} Who cares it's pain for a broker? It's their problem, not mine. For manual traders, it maybe does not matter. However, algo traders like me do not have other reasonable options for how to skip UI (the platform) and connect directly to the server. I know only JForex and cTrader alow it. Metatrader is behind both of hundred light-years (and even MT5 with its Python capabilities). MQL is rather funny than a tool for serious algo trading. There is also FIX available but it's not usually for free (apart from FxPig offer) and has got its own limitations....
but they aren't a broker? They are a prop firm. And whilst they accept EA's, prop's become quants very quickly when they provide full spec tech to algo builders. You manage the two different types of entities very differently. If you have a lot of automated flow as well your liquidity gets more expensive and the likelihood of rejections increases 10 fold. I would put money on any entity running C-trader warehousing almost all the orders because they dont want to have a base spread of 0.6 on EUR/USD to tailor to the automated toxic flow.

As a trader who wants longevity in an entity, I would prefer that automated trading is banned all together so that the LP's are happy and I can continue being paid. Or, an automated trading option is built around different pools who will take the toxic flow on without rejections, but the spreads will be far worse than what they are now. Think FXChoice worse (thanks Blake).
  • #3,937
  • Sep 19, 2021 7:19am Sep 19, 2021 7:19am
Quoting Takisd
{quote} but they aren't a broker? They are a prop firm. And whilst they accept EA's, prop's become quants very quickly when they provide full spec tech to algo builders. You manage the two different types of entities very differently. If you have a lot of automated flow as well your liquidity gets more expensive and the likelihood of rejections increases 10 fold. I would put money on any entity running C-trader warehousing almost all the orders because they dont want to have a base spread of 0.6 on EUR/USD to tailor to the automated toxic flow....
Fair enough. But retail low frequency algo trading is not HFT nor Market Making HFT so it can not be identified or classified as toxic order flow at all. So your assumption is not correct.
Never mind. It derails the thread's subject anyway.
  • #3,938
  • Sep 19, 2021 7:28am Sep 19, 2021 7:28am
Quoting Masterrmind
{quote} Certainly if hitting the target is achieved under these conditions it's not really good trading rather it's simply good fortune. Let's see how the 1st and 2nd days pan out. Hold on tight ! ps. Post 1 shows what happened to the other accounts. Masterrmind .........
after such a plunge gold is very likely consolidating for a bit(no crystal ball). will either accumulate longs working the lows or redistribution but won t be much fun trading gold atleast beggining of the week imo ofc. u still have 11k MAX DD to play with, 0.5% risk per trade and u should be able to bring it back up to BE. ofc i dunno how u trade but all it takes s a high probability scenario and u should be more then fine. key is patience. hopefully u ll be back a BE in no time. good luck.cheers
  • #3,939
  • Sep 19, 2021 7:29am Sep 19, 2021 7:29am
Quoting mcquak
{quote} Fair enough. But retail low frequency algo trading is not HFT nor Market Making HFT so it can not be identified or categorized as toxic order flow at all. So your assumption is not correct. Never mind. It derails the thread's subject anyway.
I think its an interesting topic re: prop firms and Algo trading. The only thing I will say is that institutional spreads aren't 0 or 0.1 for EURUSD. You can only get retail feeds that low and so all automated trading is toxic on those feeds.
  • #3,940
  • Edited 7:56am Sep 19, 2021 7:42am | Edited 7:56am
Quoting Takisd
{quote} I think its an interesting topic re: prop firms and Algo trading. The only thing I will say is that institutional spreads aren't 0 or 0.1 for EURUSD. You can only get retail feeds that low and so all automated trading is toxic on those feeds.
Toxic order flow is being identified when huge orders come onto markets and need to consume a lot of liquidity to be fulfilled. Hence we can see liquidity withdrawals in form of huge candle bodies from time to time on the charts when this happens.Institutions can not place whole order at once, so accumulation phase can keep theirs algos busy for several hours or even days
I do not think my two 5 lot orders I make twice a day would have such effects on liquidity. After all majority of 'prop firms' operate on demo accounts (and their copy trading on real market is debateble) , so why toxic order flow would make them headache?
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