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  • #4,301
  • Sep 30, 2021 3:22pm Sep 30, 2021 3:22pm
Quoting HoLoTrader
{quote} Because you trade on a Demo account. Real hedge funds doesn't permit to the traders risking more than 4% of real money.. In high-level professional environment, investors doesn't even think to invest in your portfolio if your track record has a DD beyond 1.5%. Retails logic is totally different from the ones with the real millions in the pocket who are in the trading industry
But if I get a better deal and a higher profit split, why would I care what kind of account it is? I trade to make money, if the same time and effort invested is going to make me more money with a demo account than a "real" hedge fund (which I highly doubt LUX is), why would I not opt for the demo?
  • #4,302
  • Edited 3:43pm Sep 30, 2021 3:25pm | Edited 3:43pm
I expected this thread is intended for sharing real experiences with prop firms.

Backseat drivers, please calm down, the math classes are undergoing elsewhere.
  • #4,303
  • Sep 30, 2021 4:35pm Sep 30, 2021 4:35pm
It's hard enough succeeding with a 5% fixed drawdown let alone trying with only 4% trailing drawdown. Goodness me!

The other thing that people do no take into account is trading conditions. Quite honestly I'm not enamoured with MYff's spread on Dow and why on earth their broker is not open 24/7 on Dax like everyone else is a mystery to me. DAX is great to trade at or just before FF open so it's a pain in the butt. It's a pity because in every other respect they are great.
  • #4,304
  • Sep 30, 2021 4:44pm Sep 30, 2021 4:44pm
Quoting Mtinifx
It's hard enough succeeding with a 5% fixed drawdown let alone trying with only 4% trailing drawdown. Goodness me! The other thing that people do no take into account is trading conditions. Quite honestly I'm not enamoured with MYff's spread on Dow and why on earth their broker is not open 24/7 on Dax like everyone else is a mystery to me. DAX is great to trade at or just before FF open so it's a pain in the butt. It's a pity because in every other respect they are great.

They told me there are a few fixes to the feeds coming on the next server deployment with mt5. Which would mean that goes away.

In discord it was hinted spreads will slowly move too based on the execution speed of the cross connect. At the moment (from podcast) the speed to execute at exchange is the reason for cfd spreads being as they are.

I can say that CFD's if you aren't booking them, don't come with tight spreads because of the execution at prime of prime to exchange. Actually MFF is slightly below the average a CFD provider should be charging if they are executing straight through.
I'd say they discounted it to be competitive and make it up on the other side.

You can't execute a 1 tick spread CFD in US30 for example. The time between execution and hedge is too long as its prime of prime to prime/exchange and the time it takes is wider than a tick. You have to counter that delay by increasing spread.
  • #4,305
  • Sep 30, 2021 5:22pm Sep 30, 2021 5:22pm
Quoting Mtinifx
It's hard enough succeeding with a 5% fixed drawdown let alone trying with only 4% trailing drawdown. Goodness me! The other thing that people do no take into account is trading conditions. Quite honestly I'm not enamoured with MYff's spread on Dow and why on earth their broker is not open 24/7 on Dax like everyone else is a mystery to me. DAX is great to trade at or just before FF open so it's a pain in the butt. It's a pity because in every other respect they are great.
Just use low sizes. If you do your research you will discover that there is an hedge fund with a prop trading division which is recruiting traders, which has a 3.78% relative maximum DD in 4 years of activity, performing 30% per year average. They manage various tens of millions. Magicians?
  • #4,306
  • Sep 30, 2021 5:42pm Sep 30, 2021 5:42pm
Quoting HoLoTrader
{quote} Just use low sizes. If you do your research you will discover that there is an hedge fund with a prop trading division which is recruiting traders, which has a 3.78% relative maximum DD in 4 years of activity, performing 30% per year average. They manage various tens of millions. Magicians?

You are comparing apples to nude blondes in a bar, on a beach, in paradise... calling your name.

There would be 0.0000001% of people who are on FF who will get into a hedgefund that has a consistent average of 30%. Most of those funds are quant nowadays anyway. They don't have leverage and retail strategies are not applicable.
  • #4,307
  • Sep 30, 2021 5:47pm Sep 30, 2021 5:47pm
The US30 spread at MFF is fine, especially during the NY session. We're talking 1.60 pts on an instrument that moves 400-600 points per day.
  • #4,308
  • Sep 30, 2021 5:51pm Sep 30, 2021 5:51pm
Quoting mcquak
I expected this thread is intended for sharing real experiences with prop firms. Backseat drivers, please calm down, the math classes are undergoing elsewhere.
I share all of my real experiences, by the end of October will have 300K with MFF and 400K with FTMO. I also feel obliged to steer people away from what are clear rip offs. Paying more in a fee than what you are allowed to lose simply doesn't make sense. No matter how you spin it.
  • #4,309
  • Sep 30, 2021 6:15pm Sep 30, 2021 6:15pm
Quoting pipmaster77
{quote} Not quite correct, you pay $650 for 100K challenge with FTMO, it's 10% stage 1 , 5% stage 2. That would give you $1875 in a personal account. However, you now will have 10K in DD with FTMO and fee refunded vs. the 1875 in personal account. Fee is refunded even if you make 0.0001% that third month. MFF even better they give you 12K to make 8K first stage, same 5% second stage for $499 fee. This would yield $1,252 in personal account vs. 12K DD now tradeable with MFF, once again with fee refunded regardless of profit in month 3. LUX, 5%ers,...
For the first statement, I cant argue that definitely, under the assumption that if you could produce 100% of return based on drawdown, again we are seeing R:R ratio here, FTMO is definitely better than lux. FTMO is better as you just need to achieve 1:1 ratio while Lux needs 1.5:1.

The issue here is the 30 days limitations.

I dont think anyone can consistently flip your capital 100% within 30 days( checkout the world cup trading championship as the baseline for forex returns, assume that a trader can achieve the highest return and it is approx. 300% per year).
They need at least one year of time to achieve such results and FTMO traders just need 90 days? FTMO first challenge needs 100% while second is 50%(seeing R:R ratio), assume you are given 10k capital, it needs to grow to 20k then in second challenge, and compound another 5% thus to 35k. Meaning a growth of 350% is needed over here within 3 months.

Realistically, it is not possible.

Thus the gameplay is different. It requires to be risker without protecting your capital in a conservative way.
If number of times a trader will be able to perform 100% flip outweighs the number of times a trader blowed their account. Then by all means, the trader is better off with FTMO than Lux.
  • #4,310
  • Sep 30, 2021 6:32pm Sep 30, 2021 6:32pm
Quoting daniellive
{quote} For the first statement, I cant argue that definitely, under the assumption that if you could produce 100% of return based on drawdown, again we are seeing R:R ratio here, FTMO is definitely better than lux. FTMO is better as you just need to achieve 1:1 ratio while Lux needs 1.5:1. The issue here is the 30 days limitations. I dont think anyone can consistently flip your capital 100% within 30 days( checkout the world cup trading championship as the baseline for forex returns, assume that a trader can achieve the highest return and it is...
I've passed 6 challenges. I use 1.5:1 leverage and target 30-35 pips per day in stage 1, that will get you 10%. In stage 2, target is half and time is double, piece of cake. As stated MFF is even better 12% DD to earn 8% in stage 1. Of course, it doesn't work perfectly every day, but some days the market will give me 80-100 pips to make up for it. Once you pass, you trade as if you normally would, which for me is still using 1:1 leverage. By scaling with these companies (400K FTMO and 600K MFF), I have a total of 112K in DD, with an 80% split (MFF is 85%), it is like trading your own 90-95K account and keeping 100%.

So basically, yes, you have to be extraordinary in month 1, but that's it. Stage 2 is half the target with 60 days. After that, there is no target, just don't break the rules.
  • #4,311
  • Sep 30, 2021 8:02pm Sep 30, 2021 8:02pm
With all this chatting about prop firms, I am surprised you guys actually find time to trade.
  • #4,312
  • Sep 30, 2021 8:44pm Sep 30, 2021 8:44pm
Hello,

There is still value for "6months-1year" model because it also protect traders capital from black swan events as compared to personal accounts.

Of course best value for money is "30days-60days" model, if everyone can reach the targets.

Thanks
"The markets can remain irrational longer than you can remain solv
  • #4,313
  • Sep 30, 2021 10:49pm Sep 30, 2021 10:49pm
Quoting Takisd
{quote} You are comparing apples to nude blondes in a bar, on a beach, in paradise... calling your name. There would be 0.0000001% of people who are on FF who will get into a hedgefund that has a consistent average of 30%. Most of those funds are quant nowadays anyway. They don't have leverage and retail strategies are not applicable.
You mean mostly HFT?
- X -
  • #4,314
  • Sep 30, 2021 10:59pm Sep 30, 2021 10:59pm
Quoting OutThere
With all this chatting about prop firms, I am surprised you guys actually find time to trade.
-I only need 5 to 15 minutes per trading day.
  • #4,315
  • Sep 30, 2021 11:50pm Sep 30, 2021 11:50pm
I wrote to a well-known prop firm, and we'll see what they say.
  • #4,316
  • Oct 1, 2021 12:28am Oct 1, 2021 12:28am
Looks like the "Own deposit program is back on...
Worth a look.??? Or not.!!
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Look Left Trade Right
  • #4,317
  • Oct 1, 2021 12:45am Oct 1, 2021 12:45am
Quoting pipmaster77
{quote} I've passed 6 challenges. in stage 1, that will get you 10%. In stage 2, target is half and time is double, piece of cake. As stated MFF is even better 12% DD to earn 8% in stage 1. Of course, it doesn't work perfectly every day, but some days the market will give me 80-100 pips to make up for it. Once you pass, you trade as if you normally would, which for me is still using 1:1 leverage. By scaling with these companies (400K FTMO and 600K MFF), I have a total of 112K in DD, with an 80% split (MFF is 85%), it is like trading your own 90-95K...
Hi pip,what do you mean by :''I use 1.5:1 leverage and target 30-35 pips per day'' Isn't suppose to be 1.5:1 RRR? Isn't your leverage set by broker?
Whether you think you can, or you think you can't,you're right. H.F.
  • #4,318
  • Oct 1, 2021 12:48am Oct 1, 2021 12:48am
Quoting Simply-Me
{quote} Hi pip,what do you mean by :''I use 1.5:1 leverage and target 30-35 pips per day'' Isn't suppose to be 1.5:1 RRR? Isn't your leverage set by broker?
The maximum leverage is set by the broker, but thats all he uses of it.
  • #4,319
  • Oct 1, 2021 1:24am Oct 1, 2021 1:24am
Quoting HoLoTrader
{quote} Just use low sizes. If you do your research you will discover that there is an hedge fund with a prop trading division which is recruiting traders, which has a 3.78% relative maximum DD in 4 years of activity, performing 30% per year average. They manage various tens of millions. Magicians?
I would rather say, they should go learn from FF retail traders how to make 100% a year with 50% DD with 500$ account size ;-)

#sarcasm

Quoting pipmaster77
{quote}I also feel obliged to steer people away from what are clear rip offs. Paying more in a fee than what you are allowed to lose simply doesn't make sense. No matter how you spin it.
It's only a narrow perspective of your opinion taking only eval. fee into consideration. No matter how you spin it.
I also feel obliged to steer people away from what is clearly incomplete and narrow-minded greengrocer math.

Quoting Takisd
{quote} Most of those funds are quant nowadays anyway. They don't have leverage and retail strategies are not applicable.
Just a small correction. Quants do not do trading. Quants are making research and building models that can be eventually used for trading.
  • #4,320
  • Oct 1, 2021 1:57am Oct 1, 2021 1:57am
I do not agree with everything that everyone says, but I also do not feel the need to impose my own opinions onto others regarding what they choose to do with their own money; that is their business.

Providing information is one thing, and even giving suggestions to people that are looking for that is perfectly fine, but I will not go out of my way to criticize people unless they really deserve it.

People that feel the need to argue with everyone, prove that they are right all of the time, spread negativity and/or any other trollish behavior, can kick rocks as far as I am concerned.
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