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  • #7,201
  • Mar 26, 2022 5:23pm Mar 26, 2022 5:23pm
Quoting TrAndy1
Here is a brief foolproof list to pass on any prop firm regarding hidden rules, which needs to be completed from other members here too. -no use of any EA -no copy trading between accounts -no tight stoploss -no stop orders on news at all -constant lot sizes (not varying too much, say from min. 1:3 to max. 1:5) -minimum holding of any trade of at least 1 or 2 minutes -care about max lot sizes on some instruments in addition to max leverage -no martingale -no opposite position on same symbol on different accounts (not even for 1 second/minute, esp....
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  • #7,202
  • Mar 26, 2022 6:48pm Mar 26, 2022 6:48pm
$200K Challenge end of Week 2 Update.
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Plenty of work still to be done.

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,203
  • Mar 27, 2022 2:18am Mar 27, 2022 2:18am
Quoting Masterrmind
$200K Challenge end of Week 2 Update. {image}Plenty of work still to be done. Masterrmind ...........
My 100k evaluation phase 2 is in negative currently. week 1 finished.

But I have total 60 days so do not bother much.

I am aiming to make 500 to 600 daily in the remaining days by which I should be able to meet the target of 5k profit
Intraday only.
  • #7,204
  • Mar 27, 2022 5:31am Mar 27, 2022 5:31am
Quoting navk
{quote} My 100k evaluation phase 2 is in negative currently. week 1 finished. But I have total 60 days so do not bother much. I am aiming to make 500 to 600 daily in the remaining days by which I should be able to meet the target of 5k profit
Yes plenty of time for you to bring it around.

You got this Navk.

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,205
  • Mar 27, 2022 9:50am Mar 27, 2022 9:50am
For every problem a solution can be found regarding those hidden rules. E.g. you are a short term scalper with orders manually executed and do have second trades usually. The only thing you need to do is hedge your open position when you want to exit and then close those hedged positions by each other after some minutes.

For me it is not relevant because I am more a longterm scalper or shortterm daytrader. My swing setups I do not consider so far in those evaluations, because the max daily loss rule is not so favorable. But there is one exception here, it is FTMO. They have a good max daily loss rule based on balance, so you can have open floating gains which count as additional buffer for max daily loss on the next day then too. That is really good. But when you have a tough time limit in the evaluation phase you need to do some more trades and that consistency can only be built with shorter time frames, so you need to daytrade at least in Phase 1.
  • #7,206
  • Mar 27, 2022 10:02am Mar 27, 2022 10:02am
Quoting TrAndy1
{quote} Mtinifx, what was your minimum and average holding time for your trades ? How many trades last only some seconds ? What else do you think was the problem they rejected your trading style ? qazaq: "What actually worries me is that, unfortunately I am receiving conflicting feedback from mff as well regarding few seconds trades(even 10!). Connor says you can't, Josh says you can. With all the arbitrage nonsense frenzy, Connor says with few seconds trades you will be suspect for arbitrage." It seems to be a more widespread problem among the...
A few seconds sometimes. All manual trades of course. They didn't like that! They accused me of using a robot. When one trades indices, the price can move 50 pips sometimes in seconds.
  • #7,207
  • Mar 27, 2022 10:15am Mar 27, 2022 10:15am
Quoting Expo33
{quote} UPDATE: I passed phase 1 in 23 hours and got an immediate email with phase 2 credentials. So far all is well. Will update future progress. {image}
I'm also going to give E8 a go. Spreads on the popular forex pairs are average and it looks like they don't have nasty rules to trip one up.
  • #7,208
  • Mar 27, 2022 10:18am Mar 27, 2022 10:18am
I think they have a bunch of good traders...I mean real good like dreamy good that do everything right like in a fairy tale. So, what do you do when you got traders like those? You start nit picking about trades of the other traders that trade less than perfect. It is like having a bunch of girlfriends and a few of them are perfect in their actions and of course if you are that guy, you can tell who you want to be with more often. Maybe instead of saying outright we don't want you, they try to give you the cold shoulder.
  • #7,209
  • Mar 27, 2022 11:54am Mar 27, 2022 11:54am
Quoting TrAndy1
The sure profit method A sure profit method as prop firm arbitrage by their own PT and DD rules. Just a case how stupid Myforexfunds (MFF) can be. They are offering for their $200k account -12% Drawdown (DD) with 8% profit target (PT) in Phase 1 and 4% PT in Phase 2, so in total 12% PT to 12% DD = 1:1. Let's do some simple math. You buy four (4) $200k challenges to $979 (-5% discount code from forexpropreviews e.g.) so in total say 4*ca. $930=$3720. Now you are placing an order on same symbol and same lot size BUT with opposite direction (e.g. 2*10...

This scheme is as old as gambling itself. It’s a spin off of various casino betting schemes. These theories always work well on paper, and yet no one has ever shown to be successful doing it.

Casinos will eventually toss you out, brokers will close your account.

They hold the gold, they make the rules.
Trade with confidence, trade without fear.
  • #7,210
  • Edited 1:29pm Mar 27, 2022 11:56am | Edited 1:29pm
Seems PaulMF was right about all of these prop firms. Time to check his thread for all of the "real" prop firms.. Happy trails.
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Pride always comes before destruction.... -Proverbs 16:18
  • #7,211
  • Mar 27, 2022 4:58pm Mar 27, 2022 4:58pm
Quoting TrAndy1
{quote} It seems to be a more widespread problem among the props. I would guess MFF is not the only prop firm doing this. I have not heard or read that kind of behavior so far for TFF. My shortest duration for a trade was 10 minutes by the way, so I guess, my style is not conflicting at all. But this is good to know for any future trades or any mistakes I make with any order entry.
I am sure you'll be fine with that.
TFF has said that closing some orders fast because you changed your mind is not an issue, just do not base your strategy on few seconds trades.
Also be mindful of IC markets demo conditions, there may be shortages of all kinds especially during NY session and sudden market volatility. Many people have their EAs run amok on demo servers with no limitations. There must be around 6 demo servers in comparison to 31 live servers with limitation of orders per day to prevent overload.

Nice sum up of the various rules. I have no issue with rules, in my opinion issues arise when there is a deliberate lack thereof.

Mtinifx, just make very clear whether your strategy/trading style is allowed or if there are any limitations of this sort.

Best of luck to all in the coming week!
  • #7,212
  • Mar 27, 2022 6:54pm Mar 27, 2022 6:54pm
Quoting Boulder
{quote} I am currently dealing with MFF about my payouts. I have one accelerated account. . They are all my manual trades. Only two risk management EAs installed in my account. I traded all my accounts either on two desktops in my home office, or on my iPhone or laptop in bed during nights. I don't know where they get idea that I use signal. I am still waiting for MFF decision on my account. This week payment was delayed even I have already gotten 3 payments from them on this account already. My accelerated account has low balance. Now I am kind...
Hi, I would love to know why you took up the accelerated account. I assumed yours is the emphatic 50K account, the fee is $4,900 and the OD is $5k. You need to make 20% for every phase. Your next phase will be 100k with a OD of 10k and a target of 20K to advance to 200K.

For 100k to make 20% in your Accelerated Emphatic acc is 20k, comparing it to Evaluation 200k account challenge 1st target is 18K with DD 10K or Evaluation 100k challenge 1st target is 8K with DD 5k. The Accelerated programme is not that attractive beside the hanging carrot of $2 million.

Would love to hear from you.
  • #7,213
  • Mar 27, 2022 10:01pm Mar 27, 2022 10:01pm
Quoting mixedbags
{quote} Hi, I would love to know why you took up the accelerated account. I assumed yours is the emphatic 50K account, the fee is $4,900 and the OD is $5k. You need to make 20% for every phase. Your next phase will be 100k with a OD of 10k and a target of 20K to advance to 200K. For 100k to make 20% in your Accelerated Emphatic acc is 20k, comparing it to Evaluation 200k account challenge 1st target is 18K with DD 10K or Evaluation 100k challenge 1st target is 8K with DD 5k. The Accelerated programme is not that attractive beside...
Not only $2 mil , mostly I like the drawdown rule. Emphatic model come with 10% overall drawdown , it is easier for me to manage my trades sometimes. On top of that, I like all trades have to be closed by Fridays before the weekend. Its not I need weekly pay, more important is that I like to remove risks (profits) out of table every week. And enjoy the weekend.
I also have $200k live evaluation account. For some reasons I like Accelerated account, maybe its because I take more risks in my accelerated account to have a higher earning potential.
By the way its risk free once you move up one level in accelerated account.
  • #7,214
  • Mar 27, 2022 10:36pm Mar 27, 2022 10:36pm
Quoting Boulder
{quote} Not only $2 mil , mostly I like the drawdown rule. Emphatic model come with 10% overall drawdown , it is easier for me to manage my trades sometimes. On top of that, I like all trades have to be closed by Fridays before the weekend. Its not I need weekly pay, more important is that I like to remove risks (profits) out of table every week. And enjoy the weekend. I also have $200k live evaluation account. For some reasons I like Accelerated account, maybe its because I take more risks in my accelerated account to have a higher earning potential....
looking to short gold 1970/71+ if i get a signal there. Maybe hold for a while.. Since food cost is going up in Asia. India and China are the largest gold buyers by far. Less discretional money to buy gold from the middle class.
those who can, do. those who cant, talk about those who can
  • #7,215
  • Mar 27, 2022 10:37pm Mar 27, 2022 10:37pm
Quoting Boulder
{quote} Not only $2 mil , mostly I like the drawdown rule. Emphatic model come with 10% overall drawdown , it is easier for me to manage my trades sometimes. On top of that, I like all trades have to be closed by Fridays before the weekend. Its not I need weekly pay, more important is that I like to remove risks (profits) out of table every week. And enjoy the weekend. I also have $200k live evaluation account. For some reasons I like Accelerated account, maybe its because I take more risks in my accelerated account to have a higher earning potential....
Very good analysis about Emphatic accounts.

I shall tryout next time.

Currently 100k live account , 100 k evaluation phase 2 account i have.
Intraday only.
  • #7,216
  • Mar 27, 2022 11:25pm Mar 27, 2022 11:25pm
Quoting Boulder
{quote} Not only $2 mil , mostly I like the drawdown rule. Emphatic model come with 10% overall drawdown , it is easier for me to manage my trades sometimes. On top of that, I like all trades have to be closed by Fridays before the weekend. Its not I need weekly pay, more important is that I like to remove risks (profits) out of table every week. And enjoy the weekend. I also have $200k live evaluation account. For some reasons I like Accelerated account, maybe its because I take more risks in my accelerated account to have a higher earning potential....
Hope you'll arrive at 2 million. Looking at phase 5 from 900,000 the target is a whopping 180,000.
I am trying to justified for myself a valid reason to pay 4,900 for a 5,000 draw down.
  • #7,217
  • Mar 27, 2022 11:32pm Mar 27, 2022 11:32pm
Quoting Boulder
{quote} Not only $2 mil , mostly I like the drawdown rule. Emphatic model come with 10% overall drawdown , it is easier for me to manage my trades sometimes. On top of that, I like all trades have to be closed by Fridays before the weekend. Its not I need weekly pay, more important is that I like to remove risks (profits) out of table every week. And enjoy the weekend. I also have $200k live evaluation account. For some reasons I like Accelerated account, maybe its because I take more risks in my accelerated account to have a higher earning potential....
The account balance is 2000, 5000, 10000, 20000, 50000 like that?

The DD - 10 % is based on these account balances I guess for Emphatic account.
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Intraday only.
  • #7,218
  • Mar 27, 2022 11:49pm Mar 27, 2022 11:49pm
Quoting navk
{quote} The account balance is 2000, 5000, 10000, 20000, 50000 like that? The DD - 10 % is based on these account balances I guess for Emphatic account. {image}
Those are plans.
  • #7,219
  • Mar 28, 2022 12:09am Mar 28, 2022 12:09am
Quoting mixedbags
{quote} Those are plans.
These are account balance once signed up for those plans ?
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Intraday only.
  • #7,220
  • Mar 28, 2022 12:14am Mar 28, 2022 12:14am
Quoting navk
{quote} These are account balance once signed up for those plans ? {image}
Those are the Max Scaling numbers if you achieve constant 10% on your account or 20% in case of emphatic accounts
Regret is Brutal
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