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  • #5,121
  • Nov 4, 2021 1:39pm Nov 4, 2021 1:39pm
Quoting Nsak3y
{quote}-To be fair, what he thought is irrelevant, and his intentions may be impossible to prove in this case. He was allowed to do it, though, and passed all objectives. Which means that FTMO may need to revisit this and consider making changes so that things like this cannot happen again. That being said, FTMO has the right to reject any trader that trades in a way that cannot be replicated under live market conditions. However, given that this appears to be less an issue of abuse and more an issue of a lack of preparation and foresight on FTMO's...
I think this sums it up very well. This sounds like one of those situations they didn't foresee happening when they added those new coins. Going forward, they need to state these volume limitations clearly but the good news is they are willing to give Vltore a free retake of his verification. And seeing that most of the profits came from us30 and indices are on fire right now.
  • #5,122
  • Nov 4, 2021 1:39pm Nov 4, 2021 1:39pm
Quoting Vitore
I didn't say it was the same. I said I used similar technique, as you know ;-)
-Come on now, you know that technique was not the problem. You have even stated that you understand that it is their inability to execute trades, and in this case, to match demo with live conditions.


Quoting Vitore
I'm not waiting for them to fix anything. ... I offered them to discuss all the findings I've made ... so that to help them improve their service.
-You are contradicting yourself. I would not even point this out, but you are just being argumentative for no reason at this point.
  • #5,123
  • Nov 4, 2021 1:59pm Nov 4, 2021 1:59pm
Quoting Nsak3y
-Come on now, you know that technique was not the problem. You have even stated that you understand that it is their inability to execute trades, and in this case, to match demo with live conditions.
I only realized all of that AFTER they rejected my trades when I started looking for the possible reasons why they would do it. I had no clue that the volume would be much too big for them in the time I placed the orders, neither did I know they actually don't simulate the real market conditions on their demo accounts despite their own Policy published on their website. I learnt all that only afterwards. I admit I'm rather new to crypto, and so I was only looking at the $ value of my positions, not the volume of DOT in particular or the FTMO's liquidity (which was indicated to be more than satisfactory in the trading platform).

Quoting Nsak3y
-You are contradicting yourself. I would not even point this out, but you are just being argumentative for no reason at this point.
I don't see any contradiction here. I'm not waiting for them to fix all of that immediately. I cannot trade anyways as I completed both phases but have no funded account to trade. So I'm waiting for them to start talking to me about the next steps. I cannot do anything else. But I'm still willing to help them improve all they have wrong in the long(er) run as I don't assume they would fix everything overnight.
Money is made by sitting, not trading
  • #5,124
  • Nov 4, 2021 2:31pm Nov 4, 2021 2:31pm
Quoting Vitore
I only realized all of that AFTER they rejected my trades when I started looking for the possible reasons why they would do it. I had no clue that the volume would be much too big for them in the time I placed the orders, neither did I know they actually don't simulate the real market conditions on their demo accounts despite their own Policy published on their website. I learnt all that only afterwards. I admit I'm rather new to crypto, and so I was only looking at the $ value of my positions, not the volume of DOT in particular or the FTMO's liquidity...
-Sigh. You said that you didn't like the fact that there was no warning after you completed your challenge. I explained that it was not the same. You argued that you didn't say that it was the same, but that you used a similar technique. But I am trying to tell you, that it is not about the technique, and you know that it is not. It does not matter what you knew before, because your challenge was not the same as your evaluation because you traded US30 on your challenge, where the bulk of the profits were made, so there might not have been any need to flag it or give you a warning. There is a difference, you see? Again, I am not arguing that what was done was right, only that they are not the same. There was no reason to argue about technique because it is irrelevant.


Quoting Vitore
I don't see any contradiction here. I'm not waiting for them to fix all of that immediately. I cannot trade anyways as I completed both phases but have no funded account to trade. So I'm waiting for them to start talking to me about the next steps. I cannot do anything else. But I'm still willing to help them improve all they have wrong in the long(er) run as I don't assume they would fix everything overnight.
-I never said that you wanted it fixed immediately. You are just being dense now. You argued with me for no reason, feeling the need to point out that you were not waiting for them to fix anything, yet, you clearly said that you are wanting to discuss with them your findings so that you can help them improve their service. So, improve how? By fixing things? Weird.

I can understand if you might be feeling frustrated, or that you do not like certain things about FTMO or how they are handling things, but nearly everyone here has been trying to help you and get answers to better-understand the situation. As traders, we are all curious and concerned. I get that some traders here may be/have been skeptical of your claims and wanted to see more information, but there was no need to be argumentative with me, especially about basic comments that did not even matter. I have clearly been on your side from the beginning.
  • #5,125
  • Nov 4, 2021 2:39pm Nov 4, 2021 2:39pm
Quoting Nsak3y
{quote}-Sigh. You said that you didn't like the fact that there was no warning after you completed your challenge. I explained that it was not the same. You argued that you didn't say that it was the same, but that you used a similar technique. But I am trying to tell you, that it is not about the technique, and you know that it is not. It does not matter what you knew before, because your challenge was not the same as your evaluation because you traded US30 on your challenge, where the bulk of the profits were made, so there might not have been...
Sorry, don't want to argue. It's probably just my wordings that make my comments look like I'm arguing. Let's leave it here. All good ;-)
Money is made by sitting, not trading
  • #5,126
  • Nov 4, 2021 2:42pm Nov 4, 2021 2:42pm
And my sincere thanks to all who contributed to the discussion trying to help me understand some things I might have not been aware of before, or just expressing your support.

Now it is the FTMO's turn
Money is made by sitting, not trading
  • #5,127
  • Nov 4, 2021 2:51pm Nov 4, 2021 2:51pm
I do not want to argue, either. I am too tired and it is no fun arguing with you.
  • #5,128
  • Nov 4, 2021 3:00pm Nov 4, 2021 3:00pm
I know I can be terribly boring (and dense)
Money is made by sitting, not trading
  • #5,129
  • Nov 4, 2021 3:12pm Nov 4, 2021 3:12pm
If a man pays for a 200K account, and passes your assessments within the stated rules on your website; you cannot annul the attempt after the fact! That is sly!

The volume issue is moot because:

1. If you really want to get into it, the notional value of DOT Vitore traded was the equivalent of around 5 lots on FX. (Ps. Polkadot traded circa 2.77B USD in volume over the last 24H alone). His size wouldn't move the market.

2. If the firm has execution limits; SAY SO with precision before the test! I mean, is the trader to divine the figures OR would he have been refunded if he traded and failed????!

3. Most importantly, It was an [1] evaluation, [2] demo trade for goodness sake! Capital was not at risk! Why should you waste anyone's time, or potentially their funds; when there was no risk to you? Whats being measured is if the trader can make money operating within a set of strict rules; and the man passed.

A fair resolution would be for the firm to provide documentation as to what the limits are, not asking the trader to waste time re-taking tests.
  • #5,130
  • Nov 4, 2021 3:14pm Nov 4, 2021 3:14pm
Well I have eventually started my True Forex funds evaluation today. So far so good. I checked their Discord channel and it appears that I'm not alone
  • #5,131
  • Nov 4, 2021 3:21pm Nov 4, 2021 3:21pm
New kids on the block. Funded accounts - no evaluation. Based in my home country - not that it makes them any more trustworthy!

https://funddaytraders.com/
  • #5,132
  • Nov 4, 2021 3:29pm Nov 4, 2021 3:29pm
Quoting Thoughts
A fair resolution would be for the firm to provide documentation as to what the limits are, not asking the trader to waste time re-taking tests.
Asked for exactly the same in one of my (unresponded to date) emails to the FTMO support
Money is made by sitting, not trading
  • #5,133
  • Nov 4, 2021 3:39pm Nov 4, 2021 3:39pm
Quoting Mtinifx
New kids on the block. Funded accounts - no evaluation. Based in my home country - not that it makes them any more trustworthy! https://funddaytraders.com/
Now, I officially have seen it all. A firm who charges proportionately more the bigger account you purchase. 1500 for 30K, 3000 for 50K and 7500 for 100 K, not only is the fee 50% HIGHER than the DD allowed, they are charging a monthly subscription fee on top. HOLY SHIT, they are getting ballsier as the days go by. How do I sign up for this one?

Edit: I jumped the gun, they are charging in Rand.
  • #5,134
  • Nov 4, 2021 4:53pm Nov 4, 2021 4:53pm
Quoting Vitore
{quote} Sorry, don't want to argue. It's probably just my wordings that make my comments look like I'm arguing. Let's leave it here. All good ;-)
FWIW mate, your statements didnt come across as arguing to me.

I would actually say that you replied respectully with facts and your wordings were bang on, it was the others that argued with you it seems.
  • #5,135
  • Nov 4, 2021 4:57pm Nov 4, 2021 4:57pm
Quoting pipmaster77
they are charging in Rand.
-Saw this firm posted on FB yesterday. The buy-in fee is larger than the daily draw-down allowance but the overall draw-down is larger than normal. The profit-split is not competitive. The person that posted it was claiming that this firm was established in 2012, but that does not seem to be the case from what I can see.
  • #5,136
  • Nov 4, 2021 10:17pm Nov 4, 2021 10:17pm
Quoting Mtinifx
New kids on the block. Funded accounts - no evaluation. Based in my home country - not that it makes them any more trustworthy! https://funddaytraders.com/
The prices are the lowest in the industry for the no evaluation funded account.

For the 30K account, you pay only $98 for $5400 of drawdown! And then pay $49 a month for the subscription fee.

Assume you conservatively make 5% the first month. You'd get paid 52% of $1500 = $780 you'd then be free rolling for the next 15 months.

Thanks for posting. They will be on my radar for the time being. Doesn't seem like a sustainable model to me.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,137
  • Nov 4, 2021 10:27pm Nov 4, 2021 10:27pm
I had not realized that this was a direct-funding type firm. That changes everything. But if it is true that you get 5K+ of draw-down for only $98, then I just do not see that this is legit at all (or sustainable).

EDIT: where do you see that you get 5K in draw-down allowance for $98? Looks like $353 overall draw-down. Unless I am calculating it incorrectly.

Wish they had a currency conversion on their site. But, it looks like this is targeted for locals, so probably not needed anyway.
  • #5,138
  • Nov 4, 2021 11:34pm Nov 4, 2021 11:34pm
Got bored so I have been busy buying a house... what did i miss?

Oh the new influx of new prop firms.

Pretty much any douchebag who manages to get interviewed by a prop firm now has a prop firm of their own after they faked being a guru first. There are 2 from the interviewed traders at MFF and like 8 from the FTMO interviews. All of them junk.

I also was reading in MFF discord that lambo raul offers to pass peoples challenges? Then someone was saying that what they do is get a number of users then go long on 50% of them and short on 50% of them and hope to pass so that 50% are happy customers.

Really awful and things are just getting worse in this market. Somebody do something... where is superman!?
  • #5,139
  • Nov 5, 2021 12:02am Nov 5, 2021 12:02am
Quoting Nsak3y
I had not realized that this was a direct-funding type firm. That changes everything. But if it is true that you get 5K+ of draw-down for only $98, then I just do not see that this is legit at all (or sustainable). EDIT: where do you see that you get 5K in draw-down allowance for $98? Looks like $353 overall draw-down. Unless I am calculating it incorrectly. Wish they had a currency conversion on their site. But, it looks like this is targeted for locals, so probably not needed anyway.
It says 18% overall drawdown.

So .18 x 30,000 = 5400

Unless I'm missing something.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,140
  • Nov 5, 2021 12:03am Nov 5, 2021 12:03am
Quoting Expo33
{quote} The prices are the lowest in the industry for the no evaluation funded account. For the 30K account, you pay only $98 for $5400 of drawdown! And then pay $49 a month for the subscription fee. Assume you conservatively make 5% the first month. You'd get paid 52% of $1500 = $780 you'd then be free rolling for the next 15 months. Thanks for posting. They will be on my radar for the time being. Doesn't seem like a sustainable model to me.
Move money out of South Africa is difficult.
Next scammer, please,
Follow your guts, if you want to lose your money...
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