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  • #12,921
  • Edited 12:34pm Dec 11, 2022 12:21pm | Edited 12:34pm
Quoting navk
why this prop firm money earning from one firm is not permanent ? 1) Any time violation of loss limits or rules by traders 2) Anytime crossing the risk parameters by firms themselves 3) The nature of business itself. so, what is the solution ? If a trader earns from a firm for 1 year..that is good enough period. Diversify the investment with different firms. Add good enough numbers of firms in the list... 5 firms at a time. Never feel tired in doing new challenges, No guarantee to state the rules and trading conditions will remain same ... the firms...
Exactly. These firms can do whatever they want and change the rules as often as they want.

In MFF contract it even says they can release you if they feel you aren’t working in their best interests.

Edit: I would even add that at some point it might be worth considering having a personal account or 3 in addition to the prop firm accounts.
  • #12,922
  • Dec 11, 2022 12:38pm Dec 11, 2022 12:38pm
On the other day, I placed an order in gbpusd.. instead of 1 lot, by mistake typed 100 lots.

I did this mistake thro my cell phone.

Within a second, I noticed the error and closed the trade.

REsult ? positive, 400 bucks profit.

ha..ha..
Intraday only.
  • #12,923
  • Dec 11, 2022 12:41pm Dec 11, 2022 12:41pm
Quoting Takisd
{quote} A few people I know got similar last month. However, I trade there above 1% risk and have no problems. But I do not trade much and I haven't traded almost at all in December.
So, this is legit !
Not good at all, specially coming from FTMO.
  • #12,924
  • Dec 11, 2022 12:48pm Dec 11, 2022 12:48pm
Quoting Takisd
{quote} A few people I know got similar last month. However, I trade there above 1% risk and have no problems. But I do not trade much and I haven't traded almost at all in December.
Does it mean 1 % risk per 1 standard lot ? ( one position or multiple positions )
Intraday only.
  • #12,925
  • Dec 11, 2022 1:21pm Dec 11, 2022 1:21pm
Quoting Takisd
A few people I know got similar last month. However, I trade there above 1% risk and have no problems. But I do not trade much and I haven't traded almost at all in December.
-I suspect that most traders are risking over 1%. I also suspect that most traders are not even using a stop-loss.

So it seems that they are placing special rules on specific traders, but based on what criteria?

Are they targeting consistently-profitable traders that use heavy risk, and/or any traders with heavy damage-potential? For example, if you are a high-risk trader that loses accounts frequently, are you getting this notice? If you trade with heavy risk, but only up to a certain profit-level each month, are you getting this notice? Perhaps there is much to consider here.

I can see how they might want tighter rules for specific traders that are actually getting copied over to a live account. I can also see the opposite happening, and how they might want tighter rules for specific traders that are not getting copied over, but that have heavy damage-potential due to their high-risk trading and ability to cash-out.

I cannot see them targeting traders that are not consistently profitable, that regularly blow accounts and/or that only aim for reasonable profit-levels each month. So this is most undoubtedly a move to protect the firm's capital.

As such, should we be bothered by it? I'm not sure. Perhaps things could have been handled better. If we consider the positives, this does protect the longevity of the firm, which is beneficial to us as traders. However, if they will start imposing such 'customized rules' on more accounts, then where does it stop? And what new rules will be enforced next?

As previously mentioned:
Quoting Nsak3y
when looking at the future of remote props, perhaps we may see a decline over time. This will likely come in the form of less-desirable offerings (more rules, longer terms etc.), thus resulting in fewer participants. The only way that I see firms avoiding this are those that are successfully able to generate sufficient profit through other, various and clever means.
Perhaps we are already seeing things unfold. This also makes me wonder if the 'done-for-you' challenge services are having a negative impact on prop profitability.
  • #12,926
  • Dec 11, 2022 1:33pm Dec 11, 2022 1:33pm
Quoting navk
Does it mean 1 % risk per 1 standard lot ? ( one position or multiple positions )
-1% total risk on a single instrument (protected by stop-loss), based on account size.

So, if you have a 100K account, you cannot have more than 1K worth of risk on a single instrument, based on your stop-losses, regardless of whether or not you are trading 1 lot or 100 lots, or, across 1 position or 100 positions. The rule appears to apply to each instrument (trading idea), not total risk across all instruments. This is my understanding, based on the message by FTMO. I could be wrong.

If this is the case, then such traders that are seeing this customized rule will not only be required to have stop-losses on every trade, but will also need to stay within a specific risk range on each instrument that they trade.
  • #12,927
  • Edited 3:05pm Dec 11, 2022 2:51pm | Edited 3:05pm
The risk assessment is often vague. Also here in the thread.
Recently MFF published new statistics where it was not clear how exactly the risk (of the best traders) was calculated.
That's why I asked.

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Means for me: after 2,5 days account may be breached.
  • #12,928
  • Dec 11, 2022 3:18pm Dec 11, 2022 3:18pm
with these kind of risk they let you drive Mercedes on Autobahn with speed limit of 60km/hr !
  • #12,929
  • Dec 11, 2022 5:07pm Dec 11, 2022 5:07pm
Quoting Nsak3y
{quote}-1% total risk on a single instrument (protected by stop-loss), based on account size. So, if you have a 100K account, you cannot have more than 1K worth of risk on a single instrument, based on your stop-losses, regardless of whether or not you are trading 1 lot or 100 lots, or, across 1 position or 100 positions. The rule appears to apply to each instrument (trading idea), not total risk across all instruments. This is my understanding, based on the message by FTMO. I could be wrong. If this is the case, then such traders that are seeing...
Yeah I’m not sure if this is really a thing or not. I’ve yet to see anyone mention this outside of this group. If it were a thing I would expect to see more howling about it.

I also moderate a couple propfirm facebook groups and haven’t seen anyone make claims they are being restricted.

I’ve been consistently risking anywhere from 5-15% for the last couple of years and have yet to receive any notice from FTMO or MFF.
Trade with confidence, trade without fear.
  • #12,930
  • Dec 12, 2022 12:28am Dec 12, 2022 12:28am
Quoting Cryptosurf
{quote} Yeah I’m not sure if this is really a thing or not. I’ve yet to see anyone mention this outside of this group. If it were a thing I would expect to see more howling about it. I also moderate a couple propfirm facebook groups and haven’t seen anyone make claims they are being restricted. I’ve been consistently risking anywhere from 5-15% for the last couple of years and have yet to receive any notice from FTMO or MFF.
How is it possible that you are risking more than the maximum DD allowed?
  • #12,931
  • Dec 12, 2022 1:10am Dec 12, 2022 1:10am
Quoting benaiah
{quote} How is it possible that you are risking more than the maximum DD allowed?
Risk and drawdown are 2 different things entirely.

maahome
  • #12,932
  • Dec 12, 2022 1:22am Dec 12, 2022 1:22am
Quoting maahome
{quote} Risk and drawdown are 2 different things entirely. maahome
2 different things entirely?

What is risked can become what is lost which becomes DD (or unrealized DD)

If what is risked never becomes what is lost or unrealized DD, how is that possible?

If somebody enters a trade with 15% risk, but always comes out of the trade at a much lower loss (or a winner), I guess that is possible, however I don’t see the point of that.

Edit: so I guess my point is that if price hitting your SL basically means a blowout, what is the purpose of the SL? Might as well not have an SL…
  • #12,933
  • Dec 12, 2022 1:35am Dec 12, 2022 1:35am
Ok, I think I see the possibility.

if someone has a gain of 10% on the day, a trade could be entered with 10% risk without violating any rules.

however I don’t think the prop firm would have any issue if you are only risking profits, since it isn’t really a DD or risk on their money…
  • #12,934
  • Dec 12, 2022 3:19am Dec 12, 2022 3:19am
No time limit with this UK firm and static drawdown level hit when target reached - see the video for explanation.

https://www.fundedtradingplus.com/drawdown-information/
every Saint has a past. Every Sinner has a Future
  • #12,935
  • Dec 12, 2022 5:26am Dec 12, 2022 5:26am
Quoting turnip15
No time limit with this UK firm and static drawdown level hit when target reached - see the video for explanation. https://www.fundedtradingplus.com/drawdown-information/
Mr T I can see you have been accused of been a shill in this thread for promoting this firm.

They appear to have put some thought into the offering unlike all the the other Eightcap prop "schemes", thanks for persisting.. I will give them a go in the New Year and report back on here "if/when" I get a pay out and my experiences with them. Being in the UK I can always find them and knock on their doors if they don't pay-out, which is a big plus point for me.
  • #12,936
  • Dec 12, 2022 5:37am Dec 12, 2022 5:37am
Quoting Fagin
{quote} Mr T I can see you have been accused of been a shill in this thread for promoting this firm. They appear to have put some thought into the offering unlike all the the other Eightcap prop "schemes", thanks for persisting.. I will give them a go in the New Year and report back on here "if/when" I get a pay out and my experiences with them. Being in the UK I can always find them and knock on their doors if they don't pay-out, which is a big plus point for me.
Thanks Fagin - I don't give a toss for the detractors here. it is supposed to be an arena of free speech so I will persist. Yes - very important that they have an address upon which one can knock. I will say I prefer Tradingview as opposed to their MT4/5 offerings, which others also use it seems. They are bringing back Tradingview early in the New Year. I just find them ( TV) easier to use on an iMac despite having apps like "wine" to assist loading MT4 etc.
Take a look at their Discord site ( under FAQ's on their web site) and you can soon spot the experienced trader ,from the get rich quick fool who fails to realise that if you are not profitable before joining a funded programme then you are unlikely to succeed where method and discipline are concerned.
It is obvious that some here are merely gamblers dreaming that a funded programme is a way to riches using someone else's money.
every Saint has a past. Every Sinner has a Future
  • #12,937
  • Dec 12, 2022 8:37am Dec 12, 2022 8:37am
Eightcap, market open slippage.

The server is Eightcap real-4. This is artificial slippage based on the lot size. Its a bridge setting. SL was hit and slipped severely in the same second. I got 3 trades in because they don't violate accounts accurately. BTW the entries were stop orders that also executed with massive slippage.

This is why I think eightcap companies are balls. Anyone who tells me FTMO or MFF are worse can jog on.
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  • #12,938
  • Dec 12, 2022 8:46am Dec 12, 2022 8:46am
Using a non-prop/non-8cap broker, the opening spreads were pretty atrocious, too. On average, they have not been great for a while (NASUSD).
  • #12,939
  • Dec 12, 2022 9:00am Dec 12, 2022 9:00am
Quoting Nsak3y
Using a non-prop/non-8cap broker, the opening spreads were pretty atrocious, too. On average, they have not been great for a while (NASUSD).

It wasn't spread. The entry got slipped excessively and the exit got slipped all in the same second. Its like made up prices. If only one side slipped its fine, but on that particular account which was for experiment purposes (kind of to prove how shit eightcap is) they only did this one the size was sufficient to wipe the account out. On my 5 lot trades, it didn't happen more than 1-2 ticks (1$ on us30). Then i increase and its like all of a sudden the account must burn.

Funnily enough I had the exact same trades on my personal account with icmarkets and had no issue whatsoever.
  • #12,940
  • Dec 12, 2022 9:32am Dec 12, 2022 9:32am
Quoting Takisd
Eightcap, market open slippage. The server is Eightcap real-4. This is artificial slippage based on the lot size. Its a bridge setting. SL was hit and slipped severely in the same second. I got 3 trades in because they don't violate accounts accurately. BTW the entries were stop orders that also executed with massive slippage. This is why I think eightcap companies are balls. Anyone who tells me FTMO or MFF are worse can jog on. {image}
I stopped trading NAS100 because of the massive slippage.
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