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  • #4,361
  • Oct 2, 2021 6:08pm Oct 2, 2021 6:08pm
Quoting Expo33
Hey, fellow nutbags. I've been super busy with life stuff but I've been reading all the posts every night before bed. Wow, I've never seen so much obsession with leverage and math calculations. Personally, I've never been trading with ANY prop firm and said, "gee, if I only had more leverage I could lose money faster". But anyway, I see sexy jiggling Jessica decided to bow out of the game disgracefully. I'm glad I was "in and out" with her (pun intended) And now for the update you've all been waiting for!!! Deceptive DT4X TRADER UPDATE: So as you...
Haha Fuckin' Expo.
It's always something with firms like DT4X. Glad you already got your fee back with extra. Just hold on to the account and see how much longer they keep paying you. An extra risk free $1k+ every month is good money.
  • #4,362
  • Oct 2, 2021 8:53pm Oct 2, 2021 8:53pm
Quoting Takisd
My wife just got 600k live at MFF... money money money.... moneyyyyyyyyyyyyyy
too much.

Intraday only.
  • #4,363
  • Oct 2, 2021 11:56pm Oct 2, 2021 11:56pm
Quoting Koop
{quote} Haha Fuckin' Expo. It's always something with firms like DT4X. Glad you already got your fee back with extra. Just hold on to the account and see how much longer they keep paying you. An extra risk free $1k+ every month is good money.
Blatant misrepresentation puts a bad taste in my mouth and is a bad way to do business.

If I blow up this account now I won't buy another one whereas I would have bought another one had it not been for this bogus representation.
Pride always comes before destruction.... -Proverbs 16:18
  • #4,364
  • Oct 3, 2021 12:50am Oct 3, 2021 12:50am
What made FT to close down only challenge model? It seems Flex model is ON.
Intraday only.
  • #4,365
  • Oct 3, 2021 1:41am Oct 3, 2021 1:41am
Quoting Expo33
{quote} Blatant misrepresentation puts a bad taste in my mouth and is a bad way to do business. If I blow up this account now I won't buy another one whereas I would have bought another one had it not been for this bogus representation.

there are many things that will put a bad taste in our mouth .... like trading on any company who uses fxchoice or nashmarkets...
  • #4,366
  • Oct 3, 2021 2:55am Oct 3, 2021 2:55am
Hi people - I know I read where MFF now allow EA on eval accounts without having to send in for verification - am I correct. I don't seem to be able to find where I read it now

Can anyone confirm for me please.
Thanks
maahome
  • #4,367
  • Oct 3, 2021 2:56am Oct 3, 2021 2:56am
Quoting maahome
Hi people - I know I read where MFF now allow EA on eval accounts without having to send in for verification - am I correct. I don't seem to be able to find where I read it now Can anyone confirm for me please. Thanks maahome
its correct
  • #4,368
  • Oct 3, 2021 10:53am Oct 3, 2021 10:53am
Quoting Takisd
{quote} there are many things that will put a bad taste in our mouth .... like trading on any company who uses fxchoice or nashmarkets...
Using a broker that I may or may not like doesn't bother me. Lying to me, well, that bothers me.

I'm curious why you don't like Fxchoice. I imagine it has to do with ticks or something. Or something else I don't know much about.
Pride always comes before destruction.... -Proverbs 16:18
  • #4,369
  • Oct 3, 2021 1:04pm Oct 3, 2021 1:04pm
Quoting Expo33
{quote} Using a broker that I may or may not like doesn't bother me. Lying to me, well, that bothers me. I'm curious why you don't like Fxchoice. I imagine it has to do with ticks or something. Or something else I don't know much about.

I like big spreads, so long as its not my broker with them. But if a broker is deciding to purposefully deceive the NFA/CFTC they are not legitimate.. full stop.

Now spread em with the 4 tick US30 spread during NY session.
  • #4,370
  • Oct 3, 2021 3:22pm Oct 3, 2021 3:22pm
Hey guys
just want to share my experience as well
I opened accounts 30 days ago on 3 different prop firms to divide risk
1. on MyFF I passed 2 challenges Phase1 , they offered the first account within 24h, the phase 2 within 36 hours
2. on FTMO they sent the Challenge accounts in like 10-20 min after purchase - really nice, but failed the challenges so far
3. on FT I went only with the Flex Model because of their history and I think it was a good choice, since they disabled challenges there.

interesting part is that FT paid me twice as per rules (I open only one trade per day and usually it lasts few hours plus minus), will keep you posted on others
  • #4,371
  • Oct 3, 2021 3:35pm Oct 3, 2021 3:35pm
Who wants to have some math challenges?

taking in account last updates from FT, I started to question MFF if they will hold up properly, FTMO so far was stable for past years from these forum replies.
on one of last blog post on MFF they said they have around 5k active live users
let's assume only 10% of those make money - but I think there could be more
500 clients make around 4% (let's take it easy)
500 * 100k(act size) * 0.04 = 2 mln * 0.8(profit share) = 1.6 mln to pay monthly to clients
1.6 mln / 500 (avg price per challenge 100k) = 3,200 clients per month necessary to cover these expenses
from the traffic they have and order number between 2 challenges they could have around 7-8k new orders per month. If necessary there could be done more calculations using the info from MFF blog.

now - is MFF in the same position as FT few months ago when they started to get a lot of traction? or they put the orders into live market?, because if they do they could loose money since most of the traders loose money, or they trade against us or b booking?

Just really curious to see how all this works and if we are still safe with them? If anyone knows please share how all this works. With FT we all know they said they never put the money into market.

PS: I think FTMO and MFF should be happy that FT came into market- it brought them a lot of clients once they disabled challenges ))
  • #4,372
  • Oct 3, 2021 4:25pm Oct 3, 2021 4:25pm
Quoting NXTrader
Hey guys just want to share my experience as well I opened accounts 30 days ago on 3 different prop firms to divide risk 1. on MyFF I passed 2 challenges Phase1 , they offered the first account within 24h, the phase 2 within 36 hours 2. on FTMO they sent the Challenge accounts in like 10-20 min after purchase - really nice, but failed the challenges so far 3. on FT I went only with the Flex Model because of their history and I think it was a good choice, since they disabled challenges there. interesting part is that FT paid me twice as per rules...
After what the FT has done to its customers, I do not think that there is a sane person wants to join. and I do not think that an honest person would try to advertise for this company anymore.
  • #4,373
  • Oct 3, 2021 4:59pm Oct 3, 2021 4:59pm
Quoting NXTrader;
Who wants to have some math challenges?
-We can only speculate, honestly, and any data quickly becomes skewed when you consider factors like accelerated accounts where MFF sees 50% profit while taking on virtually no risk at all (other than possibly $2 at the early stages, which is negligible).

In addition to that, there is nothing to stop a firm from going heavy with their own capital, and piggybacking on stronger 'signals' if/when they secure a trader that is actually decent. They would have no obligation to disclose that, either. Bad news for the decent trader that starts to experience heavy slippage out of nowhere, though.

Nonetheless, any firm that is actually pushing trades to a live market likely covers any draw-down out of their own pocket, fully-protecting investors, simply out of failed challenge fees, if we trust the statistics that are being published by FTMO and similar firms.

If you are able to present a virtually zero-risk opportunity with massive upside potential, it should not be difficult to secure investment capital, so long as you can convince investors that you are not operating a scam - which, admittedly, is what this would look like on paper. I suppose it pays to have rich friends that trust you in that case. But when you consider the real number of traders that are actually successful, with live/funded accounts, it's actually a lot smaller than people probably realize, so the needed capital to fund those accounts is not out-of-this-world, as I have seen some people claim.

MFF has already admitted that it did not take long for them to see that the business could easily support itself once they started growing. This could be truthfully said by any firm - whether they push trades to live market or not. However, I believe that MFF is legitimate in that regard. Just my opinion, though.
  • #4,374
  • Oct 3, 2021 7:26pm Oct 3, 2021 7:26pm
Quoting Takisd
{quote} its correct
Thanks Takisd!
  • #4,375
  • Oct 3, 2021 9:58pm Oct 3, 2021 9:58pm
Quoting NXTrader
Hey guys just want to share my experience as well I opened accounts 30 days ago on 3 different prop firms to divide risk 1. on MyFF I passed 2 challenges Phase1 , they offered the first account within 24h, the phase 2 within 36 hours 2. on FTMO they sent the Challenge accounts in like 10-20 min after purchase - really nice, but failed the challenges so far 3. on FT I went only with the Flex Model because of their history and I think it was a good choice, since they disabled challenges there. interesting part is that FT paid me twice as per rules...
Thanks for sharing your experiences so far.

Testing the waters on multiple firm's will certainly show you which ones are to your liking.

Best wishes for reaching funded status in the not too distant future.

Masterrmind ........
Master your Mind then Master your Trades
  • #4,376
  • Oct 3, 2021 10:38pm Oct 3, 2021 10:38pm
Quoting Masterrmind
{quote} Thanks for sharing your experiences so far. Testing the waters on multiple firm's will certainly show you which ones are to your liking. Best wishes for reaching funded status in the not too distant future. Masterrmind ........
Thank you Mastermind. As said in past this thread is great!!! will update in the next 2-4 weeks what will happen
  • #4,377
  • Oct 4, 2021 2:05am Oct 4, 2021 2:05am
So much anxiety in the prop firm space right now.

I am starting to see people being denied withdrawals / delayed withdrawals at FTMO. My bet would be that its due to load and not because of too much negative things but its a bit jittery.

The moral of the story is, if you are nervous about entering this space and the 300 or 800 bucks you are going to spend is life changing for you, don't enter. If you don't care too much about the money then dive right in and untangle your nerves.

If I was going to be a betting man, of the bigger firms out there, TPT and thefundedtraderprogram are next on the chopping block once the FT folks dive in with their gap trading and cheating bullshit strategies that work on demo environments.

Test the slippage on those two platforms and you will see why I say that.
  • #4,378
  • Oct 4, 2021 2:29am Oct 4, 2021 2:29am
Quoting Takisd
If I was going to be a betting man, of the bigger firms out there, TPT and thefundedtraderprogram are next on the chopping block once the FT folks dive in with their gap trading and cheating bullshit strategies that work on demo environments. Test the slippage on those two platforms and you will see why I say that.
-It's a funny thing. MFF has already made it very clear to the new traders coming over from FT, that such practices will not work with them because slippage and real market conditions will wreck them.
  • #4,379
  • Oct 4, 2021 3:18am Oct 4, 2021 3:18am
Quoting Takisd
So much anxiety in the prop firm space right now. I am starting to see people being denied withdrawals / delayed withdrawals at FTMO. My bet would be that its due to load and not because of too much negative things but its a bit jittery. The moral of the story is, if you are nervous about entering this space and the 300 or 800 bucks you are going to spend is life changing for you, don't enter. If you don't care too much about the money then dive right in and untangle your nerves. If I was going to be a betting man, of the bigger firms out there,...
Can you tell me where else I can read about ftmo please. I haven't seen anything negative yet but probably not looking in the right places.
  • #4,380
  • Edited 3:47am Oct 4, 2021 3:26am | Edited 3:47am
Quoting Takisd
The moral of the story is, if you are nervous about entering this space and the 300 or 800 bucks you are going to spend is life changing for you, don't enter. If you don't care too much about the money then dive right in and untangle your nerves..

Well, thats how i've felt about the whole online prop space from the start. Personally i don't 100% trust any of them to be here for 10 years. If you know what you're doing, you shouldn't even be planning to need them for 10 years. I feel like we waste too much time talking about who we want to build a long term relationship with (Lol look at all you frowning divorcees) when we don't even know what the future really holds.

Try to take what you can while you can if the initial risk is negligible to you. Always best to fund your secondary challenges from "funded" profits to minimize your own risk too.
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