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  • #13,801
  • Feb 6, 2023 10:46pm Feb 6, 2023 10:46pm
Someone opened a thread just for this new prop firm.

Seems you just need to call up Eightcap, slap together a website and you're in business.

https://thetalentedtrader.com/
Pride always comes before destruction.... -Proverbs 16:18
  • #13,802
  • Feb 6, 2023 11:18pm Feb 6, 2023 11:18pm
Quoting Expo33
Decided to try out MyFundedForex. Not sure what broker they are using but it says "ForeignExchangeClearingHouse" on my Meta4. Signed up for the 1-step evaluation. I used the discount code below. {image} Got my credentials instantaneously. Frankurt open spreads below aren't too bad. I'm sure they will tighten up during the London session. {image} I'll report back on my experience
Passed my one-step 10K MyFundedFX evaluation in 6 days.

The dashboard instantly showed a "submit" button. After clicking submit I got an email right away saying my account was in review. Got an email 15 minutes later saying that the account was verified and that I was a big-time trading stud

Submitted ID docs with the signed agreement and will update if/when I get the funded credentials.

Just saw in discord they have a new 15% discount on any plan running until Feb.10th. Use code "Loyalty"
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Pride always comes before destruction.... -Proverbs 16:18
  • #13,803
  • Feb 7, 2023 2:27am Feb 7, 2023 2:27am
Quoting maflip
{quote} Did bigpip changed the rule? Now the one step funding is 5% drawdown and 10% target profit target. That is like asking for a 200% gain. Smells similar to a 2 step funding they just put it all in one package . Anyone else see it? It's still a no time limit challenge but most will likely blow up anyway due to that 5% drawdown . Let us know your experience one you try them out.
Bigpip is a new company and max funding was already 1M. Now they increased to 2M.

Sounds strange that a new company is offering so much capital, while others long stablished only offer 400K, 600K or even 300K/250K.

They are owned by the guys also running a Telegram prop firm group
  • #13,804
  • Feb 7, 2023 2:28am Feb 7, 2023 2:28am
Are we able to check the metrics of this guy in TFF site ? I remember they were publishing all the payouts.
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  • #13,805
  • Feb 7, 2023 3:07am Feb 7, 2023 3:07am
Quoting Nihi
{quote} RTP rule violations: Risking 100% or more of drawdown limits in open trades of any instrument. Risking 50% or more of drawdown limits on individual trades or across open trades of the same instrument. Trading with no stop loss. How I understand it. Limits means daily drawdown. So if your drawdown limit is reduced to 4k as a result of loss take, your new risk limit is 2k, and so on. And you can use it however you want. So yes, it can be 2 trades on different instruments with a risk of <2.5% each. But if at first you got a loss of 2.45%, then...
Thank you.

I talked a little with their chat support, the guy was good.
About the rules 50%, an example with a 100 K (very interesting and not intuitive)

The Daily D is 5% , then 5000. You can risk only 50% of this in one trade (2500)
Suppose you lost 2000 with the first trade (2%)

You can now risk only 50% of the rest (3%), means 1.5% ---> 1500 max on the second trade.

In other words, if you are able to never fail with this rules, you can never reach the Daily D max
  • #13,806
  • Feb 7, 2023 3:25am Feb 7, 2023 3:25am
Quoting Nehemah
{quote} Thank you. I talked a little with their chat support, the guy was good. About the rules 50%, an example with a 100 K (very interesting and not intuitive) The Daily D is 5% , then 5000. You can risk only 50% of this in one trade (2500) Suppose you lost 2000 with the first trade (2%) You can now risk only 50% of the rest (3%), means 1.5% ---> 1500 max on the second trade. In other words, if you are able to never fail with this rules, you can never reach the Daily D max
One note (you are probably aware but it's worth to mention): when they say 50% in one trade it could be several trades if they are in the same symbol.
For example, instead of 5 lots EURUSD someone can do 5x1 lot and this is counted, all together, as one trade

Regarding what you said, it's challenging.

Using you example of 100K account and you open 2 trades, one in EURUSD and another in GBPUSD. You risk 2.500 in one and 2.500 in another. That's within the rule (2.5% each).

However you close one with -2.000. Now you're only allowed to lose another 3.000 but the 2.500 risk on the other trade is 83% of the remaining DD. It would be a violation, I guess.
So before closing the first trade you may need to adjust the risk of the other trade that will have to stay openend.
Quite demanding management for those trading a lot of pairs and/or using high risk.
  • #13,807
  • Feb 7, 2023 3:41am Feb 7, 2023 3:41am
Quoting Capablanca
{quote} One note (you are probably aware but it's worth to mention): when they say 50% in one trade it could be several trades if they are in the same symbol. For example, instead of 5 lots EURUSD someone can do 5x1 lot and this is counted, all together, as one trade Regarding what you said, it's challenging. Using you example of 100K account and you open 2 trades, one in EURUSD and another in GBPUSD. You risk 2.500 in one and 2.500 in another. That's within the rule (2.5% each). However you close one with -2.000. Now you're only allowed to lose...
Yes, I only treated the case " one trade " and to be more precise, " first losing trade ".
If the first trade is a winner, I don't know exactly what is the next. But I think that we start again with 2.5% of the new amount reached.
A lot of complications for nothing. But I guess it's a very effective way to make challenges lose.
Nevertheless, it's a good way to create a solid risk management.
  • #13,808
  • Feb 7, 2023 4:48am Feb 7, 2023 4:48am
Quoting Nehemah
{quote} Thank you. I talked a little with their chat support, the guy was good. About the rules 50%, an example with a 100 K (very interesting and not intuitive) The Daily D is 5% , then 5000. You can risk only 50% of this in one trade (2500) Suppose you lost 2000 with the first trade (2%) You can now risk only 50% of the rest (3%), means 1.5% ---> 1500 max on the second trade. In other words, if you are able to never fail with this rules, you can never reach the Daily D max
Not a good rule on a bad day. It will be harder to get back up for that day. Also, one of the thing a trader to be worried about while trading. It's almost like a consistency rule just written differently.
  • #13,809
  • Feb 7, 2023 4:50am Feb 7, 2023 4:50am
Quoting Capablanca
Are we able to check the metrics of this guy in TFF site ? I remember they were publishing all the payouts. https://www.youtube.com/watch?v=bo1KjrFHInU
Yes.

https://trueforexfunds.com/payouts/2023/01/

On the first page, you can see a guy from Italy with a 200 000 account who made 70k. I think it's him
  • #13,810
  • Feb 7, 2023 5:03am Feb 7, 2023 5:03am
Quoting Nehemah
{quote} Yes. https://trueforexfunds.com/payouts/2023/01/ On the first page, you can see a guy from Italy with a 200 000 account who made 70k. I think it's him
Thanks!
That guys has an account of 200K and trades 40 lots of GBPUSD which is roughly 4M
Daily max loss on 200K account is 10K.
10k on 4M is 0.25% (about 30 pips), not counting with slippage.
Good that he got a huge payout but this is not sustainable.
  • #13,811
  • Feb 7, 2023 5:54am Feb 7, 2023 5:54am
Quoting Capablanca
{quote} Thanks! That guys has an account of 200K and trades 40 lots of GBPUSD which is roughly 4M Daily max loss on 200K account is 10K. 10k on 4M is 0.25% (about 30 pips), not counting with slippage. Good that he got a huge payout but this is not sustainable.
Yes but he has 62% winrate and when he loses, he loses little and when he wins, he wins big. Talent excepted, he has the variance on his side
  • #13,812
  • Feb 7, 2023 8:37am Feb 7, 2023 8:37am
Quoting Cryptosurf
{quote} Make your case here on their thread. Worth a shot. https://www.forexfactory.com/thread/...s-discussionqa
I had another chat with with the MFF support. Even longer then before. Again they disregarded the MT4 log and showed me some other data extract claiming that this is what matters, and that I breached the level. They didn't care about what my MT4 log shows. So I took it to their thread here and will see
if anyone is interested - https://www.forexfactory.com/thread/...4#post14316824
Money is made by sitting, not trading
  • #13,813
  • Feb 7, 2023 8:44am Feb 7, 2023 8:44am
I tried to trade big lots. I have a good win rate and risk reward ratio, but if you trade a large lot, even 3-4 losing trades in a row can make you tilt. Tilt is the hardest part of trading for me if we talking about big lots. It even doesn't help that I've played online poker pretty well in the past lol

I think there is nothing better than winning in the long run. I remembered the MFF stats where they said that most of their record payouts means losing the account in the next 2 weeks.
  • #13,814
  • Feb 7, 2023 8:57am Feb 7, 2023 8:57am
Quoting Nihi
I tried to trade big lots. I have a good win rate and risk reward ratio, but if you trade a large lot, even 3-4 losing trades in a row can make you tilt. Tilt is the hardest part of trading for me if we talking about big lots. It even doesn't help that I've played online poker pretty well in the past lol I think there is nothing better than winning in the long run. I remembered the MFF stats where they said that most of their record payouts means losing the account in the next 2 weeks.
I agree. And I would accept if I failed. But I did not. I'm surprised they need to put such practices in place which can only damage their reputation. I didn't expect that from a firm like MFF
Money is made by sitting, not trading
  • #13,815
  • Feb 7, 2023 9:17am Feb 7, 2023 9:17am
Quoting Capablanca
{quote} Bigpip is a new company and max funding was already 1M. Now they increased to 2M. Sounds strange that a new company is offering so much capital, while others long stablished only offer 400K, 600K or even 300K/250K. They are owned by the guys also running a Telegram prop firm group
Opened an account with them and afterwards realized that they are using the standard feed instead of raw ecn like all other props. Especially the Alpari standard spreads are really bad. I was able to swap to 8cap but I consider them not using raw ecn feed a drawback.
  • #13,816
  • Feb 7, 2023 9:29am Feb 7, 2023 9:29am
Quoting TraderTero
{quote} Opened an account with them and afterwards realized that they are using the standard feed instead of raw ecn like all other props. Especially the Alpari standard spreads are really bad. I was able to swap to 8cap but I consider them not using raw ecn feed a drawback.
Is it really so bad? I compared the demo standard account they provide with the 8cup ecn demo and the difference on fx pairs seems as small as the equivalent of the commission, on xau and indices the spread is even exactly the same. Considering others charge commissions on xau and indices while BigPip does not this makes their trading costs on xau and indices much cheaper than of the others using 8cap
Am I missing something?
Money is made by sitting, not trading
  • #13,817
  • Feb 7, 2023 10:06am Feb 7, 2023 10:06am
Quoting Vitore
{quote} I agree. And I would accept if I failed. But I did not. I'm surprised they need to put such practices in place which can only damage their reputation. I didn't expect that from a firm like MFF
My post didn't address your situation.

But I'm sorry that mff showed indifference to you. It seems to be a normal practice for most props. "Rules are rules and so on". When mff just started, they were more customer oriented, but things have changed. When I traded with them I haven't any problems, but I can say it was a different MFF.
Then I was cancled by cancel culture and everything that I have now is my funded status role in their discord lol

It is strange that support often does not understand some basic things about trading. I remember the guy was accused of cheating by mff when he used "close by opposite" script for closing positions. Your case even easer but...
  • #13,818
  • Feb 7, 2023 10:09am Feb 7, 2023 10:09am
Quoting TraderTero
{quote} Opened an account with them and afterwards realized that they are using the standard feed instead of raw ecn like all other props. Especially the Alpari standard spreads are really bad. I was able to swap to 8cap but I consider them not using raw ecn feed a drawback.
Hmmm, got this email from TFTP last week. Spreads appear the same currently and they state no impact.


Dear Trader,In light of the recent changes in spreads and conditions, we will be disabling all raw FX pairs, and transitioning to using standard forex symbols. Please note that the raw symbols only affect forex pairs under the .i suffix (Ex. EURUSD.i). These changes will take place on February 10th, at 4 pm EST. All commodities and indices will remain the same and have no changes.

Any open positions on the raw forex symbols must be closed by the deadline, otherwise, they will be liquidated at whatever price is available at that time.

The reason we are doing this is if our spreads are not truly RAW then the name of the group our instruments are in should not say RAW. The spread, commissions, and execution will have ZERO impact by making this change. It is simply a naming convention that we are shifting towards.

Please feel free to reach out to our support team if you have any questions or concerns.

Best of luck trading,
Dear Trader,In light of the recent changes in spreads and conditions, we will be disabling all raw FX pairs, and transitioning to using standard forex symbols. Please note that the raw symbols only affect forex pairs under the .i suffix (Ex. EURUSD.i). These changes will take place on February 10th, at 4 pm EST. All commodities and indices will remain the same and have no changes.

Any open positions on the raw forex symbols must be closed by the deadline, otherwise, they will be liquidated at whatever price is available at that time.

The reason we are doing this is if our spreads are not truly RAW then the name of the group our instruments are in should not say RAW. The spread, commissions, and execution will have ZERO impact by making this change. It is simply a naming convention that we are shifting towards.

Please feel free to reach out to our support team if you have any questions or concerns.

Best of luck trading,
  • #13,819
  • Feb 7, 2023 10:26am Feb 7, 2023 10:26am
Quoting Vitore
{quote} Is it really so bad? I compared the demo standard account they provide with the 8cup ecn demo and the difference on fx pairs seems as small as the equivalent of the commission, on xau and indices the spread is even exactly the same. Considering others charge commissions on xau and indices while BigPip does not this makes their trading costs on xau and indices much cheaper than of the others using 8cap Am I missing something?
8cap is somewhat acceptable, Alpari is clearly more expensive. I trade only fx pairs so I didn't compare xau and indices. Under normal circumstances I never use standard accounts. I guess it depends on your strategy, I need raw ecn spreads for best results. Since they offer two brokers, it would make sense to offer the other one with raw ecn feed. Hopefully they will do that in the future.
  • #13,820
  • Feb 7, 2023 10:44am Feb 7, 2023 10:44am
Quoting Nihi
{quote} My post didn't address your situation. But I'm sorry that mff showed indifference to you. It seems to be a normal practice for most props. "Rules are rules and so on". When mff just started, they were more customer oriented, but things have changed. When I traded with them I haven't any problems, but I can say it was a different MFF. Then I was cancled by cancel culture and everything that I have now is my funded status role in their discord lol It is strange that support often does not understand some basic things about trading. I remember...
Sadly most companies lose their customer focus when they grow up. MFF used to have skilled people on their Discord. They're gone and the customer support employs staff who just follows their handbooks without understanding the merit.

Possibly I just incorrectly assumed that despite their growth this glorified prop firm would have transparent processes and rules and when in doubts they would at least behave slightly different way to their traders. Seems I was wrong
Money is made by sitting, not trading
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