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  • #8,521
  • Jun 14, 2022 8:56am Jun 14, 2022 8:56am
Quoting jul3s
{quote} TPT has the same problem since the beginning. They got popular overnight and blamed that for lack of support. I remember watching an interview with their CEO last year, promising support is the main thing they are trying to fix. And here we are Since we have so many options, is it really worth it to waste so much time to get a clear answers?
I dont understand if they say copy not allowed why any one want same pair on different accounts? There are 28 pairs, indices and crypto and one can easily get probably 1-2 set ups daily. Just avoid crossing same pair. If something smells bad from far why anyone want to put fingers on it. Take safe route.
Support sucks all over try MyFF their wait time is like fixed deposit.
  • #8,522
  • Jun 14, 2022 11:01am Jun 14, 2022 11:01am
Quoting sampat
why any one want same pair on different accounts?
-Risk mitigation and slippage reduction are two possible reasons.
  • #8,523
  • Jun 14, 2022 11:49am Jun 14, 2022 11:49am
Quoting Nsak3y
{quote}-Risk mitigation and slippage reduction are two possible reasons.
May be but Daily loss limit of ThePropTrading is 5% and max lot size for 200K is 10 lots so slippage should not be concern as trader have 100 pip buffer they can put 90 pip stop.
  • #8,524
  • Jun 14, 2022 12:59pm Jun 14, 2022 12:59pm
Oh, you are probably right. I was speaking in general terms. I am not very familiar with that firm.
  • #8,525
  • Jun 14, 2022 4:27pm Jun 14, 2022 4:27pm
Just saw that Mastermind has a challenge on MEX Exchange.

Mex is a complete and utter shit show bucketshop run by an awful human named Naser Tahir. I think only ironfx could compete with how bad MEX is. If that is a prop trading challenge, i suspect that your money is gone regardless of outcome.
  • #8,526
  • Jun 15, 2022 5:14am Jun 15, 2022 5:14am
Quoting Takisd
Just saw that Mastermind has a challenge on MEX Exchange. Mex is a complete and utter shit show bucketshop run by an awful human named Naser Tahir. I think only ironfx could compete with how bad MEX is. If that is a prop trading challenge, i suspect that your money is gone regardless of outcome.
As far as trading on the demo server at MEX Exchange is concerned I have no issues at all using the '.ecn' suffix symbols, execution has been good.

This $20K challenge cost me zero as it was gifted to me by the 'new' owner of tenTOPtraders Basill after the company went belly-up by the previous owner Sam or so the story goes.

One doesn't know what to believe here ...

Previous posts of mine outline the situation quite clearly as regards to taking the chance on an original $100K challenge ($240 fee) fully knowing in advance that the fee to play was at full risk of loss.

Preference would have been to pay for it using PayPal as refunds are very quick in this space but with time against me I chose to use a different method and my bank is currently investigating the matter having already received all the information.

As for the 'potential' loss I decided to trade a $1K real account with Fusion Markets (whom I do trust) and successfully made the $240 in profit in a handful of trades.

All this information including the trades taken can be found in previous posts to this thread.

Would I trust MEX Exchange on a real server, ofcourse not but playing on a demo account is a different matter entirely, at least for me it is.

At the end of day its the traders choice to try a different Prop Firm or not knowing full well that the price to play could be at risk of full loss.

As for the 'free' challenge could have easily just passed on it but have decided to trade it for fun and practice if nothing else.

My advise to traders with limited risk coin in this space is to always stick with the top 2 Prop Firms namely, MyFF and FTMO and maybe one other.

As time goes on I have absolutely no doubt at all that a major Prop Firm challenger will enter this market with even better trading conditions than the top 2.

Good trading,

Masterrmind .............
Master your Mind then Master your Trades
  • #8,527
  • Jun 15, 2022 11:11am Jun 15, 2022 11:11am
Please don't misinterpret my post. Just I have had first hand experience with that shitbox broker (as a broker not as a trader) and its just awful so felt a warning is necessary.

I am skeptical of anything that offers more than what FTMO and MFF offer now. In my downtime when i was sitting in the chair I Was thinking about the math behind the programs. Anything cheaper, with more frills and bells and whistles will start to eat pretty heavy into the profit they make. Even as we see 90% payouts I start to think that this isn't kosher.

In terms of real conditions around what is actually possible in the market, I think that MFF and TFTP are closest to market conditions, there are definitely filters there but nothing that is changing the market prices. FTMO is smoothed to hell and back and others are just bad. Im not sure how TFTP has a better eightcap feed than a few others but it seems to be a bit better in terms of what should happen when you open 100 lots in one click.

That being said, I see no way that these firms can make money STPing all orders without some risk mitigation on the other side. So if someone is giving you magic conditions then its best to take advantage of it whilst the opportunity is there.

The best example of why its very hard to do better than what exists is the new 5ers program. It is frilly with many a whistle, but the catch is its almost impossible to pass because the threshold is quite insane especially if someone has correct risk procedures.
  • #8,528
  • Jun 15, 2022 11:25am Jun 15, 2022 11:25am
Quoting Masterrmind
{quote} As far as trading on the demo server at MEX Exchange is concerned I have no issues at all using the '.ecn' suffix symbols, execution has been good. This $20K challenge cost me zero as it was gifted to me by the 'new' owner of tenTOPtraders Basill after the company went belly-up by the previous owner Sam or so the story goes. One doesn't know what to believe here ... Previous posts of mine outline the situation quite clearly as regards to taking the chance on an original $100K challenge ($240 fee) fully knowing in advance that the fee to...
I believe 90% or 75% doesn't make any difference as 90-95% of traders doesn't even reach first payout. So clearly if any prop firm says they are putting trades like trader is clearly LYING. They need to put opposite orders traders put. So main thing is what algorithm they have or how much deep pocket prop firm have if there are few traders 1-5% if they start making 5 or 6 digit profits. Challenge fees and bonus etc are peanuts if there are high enough number of enrolments.
  • #8,529
  • Jun 15, 2022 1:11pm Jun 15, 2022 1:11pm
Quoting sampat
{quote} I believe 90% or 75% doesn't make any difference as 90-95% of traders doesn't even reach first payout. So clearly if any prop firm says they are putting trades like trader is clearly LYING. They need to put opposite orders traders put. So main thing is what algorithm they have or how much deep pocket prop firm have if there are few traders 1-5% if they start making 5 or 6 digit profits. Challenge fees and bonus etc are peanuts if there are high enough number of enrolments.

You cannot trade opposite all traders, you need to profile them. For example, if you go opposite scalpers, you have to pay spread and you will lose and market spreads are generally wider than what retail shops are offering, especially for prop size trades. The only option is to just not send the order to the market or only send it partial.

The problem with the prop firm equation is not when traders fail, its when they make money. In a b-book model, when someone blows out on b-book you get all the money. In a prop firm, if someone reaches the refund stage, there is no meat on the bone and you have to do something else to make money from the trader.
  • #8,530
  • Jun 15, 2022 1:14pm Jun 15, 2022 1:14pm
I just talked to Lux about their 'consistent' rule. I think that traders should consider other prop firms. Here is the transcript.

Me
what is the requirement for lot size? can I trade 0.01 lot EURUSD today and 0.1 lot EURUSD tomorrow?
Lux Trading Firm - Sam
There is no requirement for lot size, but it has to be consistent, basically can't be changed
Me
how do you define consistent
Lux Trading Firm - Sam
Same/ with little variation
Me
ok, I want to talk about how my trading system can consistenly trade
usually my trading systmen classifies a setup as very high probability of success(POS), relatively high POS, high POS. And every trade has the same lot size (for example 0.1 lot). For very high POS setup, I place 3 trades(0.3 lot in total). For relatively high POS, 2 trades (0.2 lot in total). For high POS setup, just 1 trade (0.1 lot in total). So the whole lot size varies from 0.1 lot to 0.3 lot. Question, is my lot size consistent?
Lux Trading Firm - Sam
One second please, on paper from 0.1 to 0.3 isn't a lot of variation so it would be consistent enough, however relative to all trades it might not be as consistent. (Consider how on a chart from 0-1 it wouldn't be too much of a jump but from 0-0.5 it would look more inconsistent). I will ask and see if it's okay.
Me
well, I think Lux should clearly define 'consistent' on the website, maybe some kind of formula
Lux Trading Firm - Sam
Our official stance on it is it needs to be the same, but we allow very small amounts of variation
Me
have you got all the answer?
Lux Trading Firm - Sam
Yes, the risk desk decided that although its a small lot size, between the smallest lot (0.1) and larger lot (0.3) there is a factor of 3x the size, so it wouldn't be acceptable
Me
how about from 0.1 to 0.2
Lux Trading Firm - Sam
Yes, that would be okay, since the threshold is about 0.8x-1.2x
Me
here the 'x' means what
Lux Trading Firm - Sam
Take the small lot size and multiply it by that amount
Me
If the small lot size is 0.1, then the threshold is 0.08 - 0.12. So how 0.2 is okay?
Lux Trading Firm - Sam
Yes, you are right, I misread 0.12 as 0.2
Me
did you mention to the risk desk that ever trade is the same lot size? I just open 1 or 2 or 3 trades for different setups. The lot size I am talking about is position size, not the size of a single trade.
Lux Trading Firm - Sam
Yes, trades open at the same time are counted together as 1 trade
Me
So I can conclude that at Lux, one can only open 1 trade at the same time, and all the time. Because if one first places one trade, and then after 10minutes places another trade with the same size, then he breaks the rule
I believe many traders set a predefined fixed lot size at their MT4, in order to place trades fast.
Lux Trading Firm - Sam
Hedging is an example where you can use more than 1 position at the same time, however since that's the case at all times there is no violation
Me
I can't believe Lux has such ridiculous rule
Did you ever think that many traders do not enter or exit with just one trade? They often use multiple trades to enter and exit
And if you have such ridiculous rule, but you do not clearly explain it on your website, then it is a fraud.
Lux Trading Firm - Sam
It is clear on our rules that trades must be consistent. And are instructed if you do not fully understand a rule that you please contact us through this live chat, as you have done, I apologize that you found our rules not to your liking, however we appreciate that you cleared it up before opening an account. Have a nice day.
Me
well, your website only mentioned 'consistent', no detailed explanation
where is the 0.8x-1.2x rule on your website?
Lux Trading Firm - Sam
It isn't stated, as an official rule it is not to change the lots, keep them consistent. However we make exceptions for that range
Me
Now I can conclude that Lux funding program is a fraud, a scam. Thanks for your info.
Bye
  • #8,531
  • Jun 15, 2022 3:24pm Jun 15, 2022 3:24pm
Quoting Takisd
Please don't misinterpret my post. Just I have had first hand experience with that shitbox broker (as a broker not as a trader) and its just awful so felt a warning is necessary. I am skeptical of anything that offers more than what FTMO and MFF offer now. In my downtime when i was sitting in the chair I Was thinking about the math behind the programs. Anything cheaper, with more frills and bells and whistles will start to eat pretty heavy into the profit they make. Even as we see 90% payouts I start to think that this isn't kosher. In terms of...
I'm not doubting you as regards to the broker comments you made.

I am simply stating my first hand experience with using a demo account and I cannot fault it.

That being said I have no idea about MEX Exchange at all on a real account since I have never used them.

My case has been stated and the reasons for taking on the challenge and as far as I know tenTOPtraders is simply using their data feed.

In any case challenge completed but at no point am I recommending the firm nor the broker they use.

It's simply a challenge to me.

Masterrmind ..........
Master your Mind then Master your Trades
  • #8,532
  • Jun 15, 2022 3:30pm Jun 15, 2022 3:30pm
Quoting ladder
I just talked to Lux about their 'consistent' rule..
Wow! I wouldn't touch this firm with a 100 foot pole..

Thanks Ladder.
  • #8,533
  • Jun 15, 2022 5:22pm Jun 15, 2022 5:22pm
Quoting ladder
I just talked to Lux about their 'consistent' rule. I think that traders should consider other prop firms. Here is the transcript. Me what is the requirement for lot size? can I trade 0.01 lot EURUSD today and 0.1 lot EURUSD tomorrow? Lux Trading Firm - Sam There is no requirement for lot size, but it has to be consistent, basically can't be changed Me how do you define consistent Lux Trading Firm - Sam Same/ with little variation Me ok, I want to talk about how my trading system can consistenly trade usually my trading systmen classifies a setup...
Shouldn't even be a consideration anyway. All of the direct funding models have a score of under 1. This means you actually PAY MORE than what you are receiving. By contrast, MFF, FTMO, TFF, E8, TFT all have scores above 3, with some topping 8, meaning you get 3-8 times MORE than what you are paying for. Just search TrAndy sheets in this thread. There are literally ONLY 4-5 firms worth using based on the value of what you receive, payout history, trading conditions, targets and hidden rules/restrictions.
  • #8,534
  • Jun 15, 2022 6:12pm Jun 15, 2022 6:12pm
Quoting ladder
I just talked to Lux about their 'consistent' rule. I think that traders should consider other prop firms. Here is the transcript. Me what is the requirement for lot size? can I trade 0.01 lot EURUSD today and 0.1 lot EURUSD tomorrow? Lux Trading Firm - Sam There is no requirement for lot size, but it has to be consistent, basically can't be changed Me how do you define consistent Lux Trading Firm - Sam Same/ with little variation Me ok, I want to talk about how my trading system can consistenly trade usually my trading systmen classifies a setup...
Lux used to have challenge for direct funding. It is even worse than direct funding.
  • #8,535
  • Jun 15, 2022 6:49pm Jun 15, 2022 6:49pm
after I saw lux's ad shitting on their rivals for no reason my opinion became the firm is run by low class morons. Its one thing to promote something, its another to use others branding to promote yourself no matter how much you might hate someone its a line crossed.

Also, who wants a mega yacht these days anyway?

edit: for fun, go check the lux trustpilot page and read their responses to reviews.. Thats the kind of people lux are... its so sad its funny.
  • #8,536
  • Jun 15, 2022 7:47pm Jun 15, 2022 7:47pm
tenTOPtraders

Email sent to Basill requesting Phase 2 credentials.

Let's see where this goes.

Masterrmind ..........
Master your Mind then Master your Trades
  • #8,537
  • Jun 15, 2022 8:01pm Jun 15, 2022 8:01pm
Quoting Thoughts
{quote}Wow! I wouldn't touch this firm with a 100 foot pole.. Thanks Ladder.
Yeah, definitely stay away from Lux.
1. Trailing, relative drawdown
2. 29 day trading minimum
3. Consitency rules that they can change at their discretion


Could it get any worse?
  • #8,538
  • Jun 16, 2022 2:24am Jun 16, 2022 2:24am
Quoting Olarion1975
{quote} Update: The process was really quick - I signed the 9 pages of contract agreement online and uploaded a copy of my ID card. 2 hours later I got my certificate and the new credentials. Let's see how much profit I can make in 8 days before the first payout. {image}
Update: I unfortunately lost my funded account with E8 funding before the payout date, messed up with the lot sizes. Learned a hard lesson there.

Next try: I bought the 300k challenge at MFF and I am really happy I did. For my style of trading it is way better than E8 funding (I only trade the DAX and DOW), because they have lower spreads and no commissions on indices. Let's see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: mff.JPG Size: 79 KB
  • #8,539
  • Jun 16, 2022 3:09am Jun 16, 2022 3:09am
Quoting Olarion1975
{quote} Update: I unfortunately lost my funded account with E8 funding before the payout date, messed up with the lot sizes. Learned a hard lesson there. Next try: I bought the 300k challenge at MFF and I am really happy I did. For my style of trading it is way better than E8 funding (I only trade the DAX and DOW), because they have lower spreads and no commissions on indices. Let's see how it goes. {image}
Absolutely appreciate your honesty Olarion1975.

It's not easy posting in a public forum that you lost a funded account.

I wish you the best of good fortune with the MyFF $300K beast !

Masterrmind ..........
Master your Mind then Master your Trades
  • #8,540
  • Jun 16, 2022 3:41am Jun 16, 2022 3:41am
Quoting ladder
I just talked to Lux about their 'consistent' rule. I think that traders should consider other prop firms. Here is the transcript. Me what is the requirement for lot size? can I trade 0.01 lot EURUSD today and 0.1 lot EURUSD tomorrow? Lux Trading Firm - Sam There is no requirement for lot size, but it has to be consistent, basically can't be changed Me how do you define consistent Lux Trading Firm - Sam Same/ with little variation Me ok, I want to talk about how my trading system can consistenly trade usually my trading systmen classifies a setup...
OMG !!!

Masterrmind ...........
Master your Mind then Master your Trades
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