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  • #16,081
  • May 26, 2023 10:13am May 26, 2023 10:13am
Quoting Vitore
{quote} I focus on one account only and copy to all prop accounts I have Just tough I'd give them a try. Passed the eval, need to wait for the 5th day to move to verif next week. If I get funded and paid I'll post my experience here
I used to copy trades among my accounts too.
I don't do that anymore, I trade each account on its own, I feel better that way, I like to have back up plans in case my current account fails. In that way I can be fearless to trade the account
  • #16,082
  • May 26, 2023 10:37am May 26, 2023 10:37am
Quoting Boulder
{quote} I used to copy trades among my accounts too. I don't do that anymore, I trade each account on its own, I feel better that way, I like to have back up plans in case my current account fails. In that way I can be fearless to trade the account
Makes sense. I do the similar by switching on/off individual accounts and adjusting their multiplication factors but it adds another level of complexity and possible source of technical issues so it's not for everyone's taste. I have no other option though as I don't use MT
Money is made by sitting, not trading
  • #16,083
  • May 26, 2023 11:10am May 26, 2023 11:10am
Quoting Boulder
{quote} I wont try new company till your guys test out first... I tried MFFX because of your guys mentioned here...I can't focus with too many accounts..
The lab mice can't be always the same. We should produce a map here and a lottery to see who test what

Quoting Vitore
{quote} I focus on one account only and copy to all prop accounts I have Just tough I'd give them a try. Passed the eval, need to wait for the 5th day to move to verif next week. If I get funded and paid I'll post my experience here
Uau, a new company in the arena and they come with that stupid rule of waiting 5 days, forcing people to make those retard 0.01 lots trades ?
I don't get how new companies can come with idiot things like that these days, when so many others don't have time limit.
  • #16,084
  • May 26, 2023 11:15am May 26, 2023 11:15am
Quoting MJurban
{quote} Hi you had no answer so far I guess? I v d watch some Videos on yuotub im not Sure but problly test this one{image} what do you think is worth the affort? I
Testing them. Their broker FxFlat seems to be quite good.
  • #16,085
  • May 26, 2023 11:30am May 26, 2023 11:30am
Quoting Capablanca
{quote}Uau, a new company in the arena and they come with that stupid rule of waiting 5 days, forcing people to make those retard 0.01 lots trades ? I don't get how new companies can come with idiot things like that these days, when so many others don't have time limit.
I must agree. Those 5 days are pretty stupid. I'm not sure why they actually have this rule as otherwise the guys on their discord (the co-owners) seem quite reasonable
Money is made by sitting, not trading
  • #16,086
  • May 26, 2023 11:46am May 26, 2023 11:46am
Quoting Vitore
{quote} I must agree. Those 5 days are pretty stupid. I'm not sure why they actually have this rule as otherwise the guys on their discord (the co-owners) seem quite reasonable
Please keep us posted mate. I may give a stab on them just to see. As far as I understand they present themselves as the ultrafast everything (credentials, funded, payouts) and almost no rules, except these 5 days thing. Principles are good. Any new company has to be better than existing ones or, at least, as good as.
Now let's see how that runs.
  • #16,087
  • May 26, 2023 3:29pm May 26, 2023 3:29pm
Seems that Blue Guardian will be another one converting to unlimited...

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  • #16,088
  • May 26, 2023 6:10pm May 26, 2023 6:10pm
Quoting Boulder
I used to copy trades among my accounts too. I don't do that anymore, I trade each account on its own, I feel better that way, I like to have back up plans in case my current account fails. In that way I can be fearless to trade the account
-This can be a challenge, especially depending on how you trade. I would be curious about how others are approaching this. If you are able to take on multiple trades per day, without over-trading or experiencing burnout etc., then you can still use a copier and just divide your accounts up into batches so that they are traded separately.

Initially, you will want your allowable risk to dictate your trading behavior, and not your daily/weekly/monthly goal etc.. Eventually, you will want to be able to reach a level that will allow you play with the numbers so that you can reduce your risk way below your maximum allowance, while not interfering at all with your goal(s).
  • #16,089
  • May 27, 2023 3:08am May 27, 2023 3:08am
Quoting Nsak3y
{quote}-This can be a challenge, especially depending on how you trade. I would be curious about how others are approaching this. If you are able to take on multiple trades per day, without over-trading or experiencing burnout etc., then you can still use a copier and just divide your accounts up into batches so that they are traded separately. Initially, you will want your allowable risk to dictate your trading behavior, and not your daily/weekly/monthly goal etc.. Eventually, you will want to be able to reach a level that will allow you play with...
I use my own custom developed copier to copy from my master accounts to many slave accounts (this allows me to plugin my own logic - say for example wait a little to copy on the slave when spread is lower) and plus once I got to trading large amounts I couldn't risk using a 3rd party copier that may go haywire. I batch by strategy so that for example a few accounts will only copy a particular strategy only.
Majority of my slave accounts copy at a very low risk but I have a few smaller accounts that copy at a higher risk to satisfy my gambler urges.
Now regarding goals, the main goal is to get max funding on all the major props, then later on slowly increase the risk. How much I increase the risk mostly depends on how well I am executing and sticking to my own plan. Having backup accounts is also another goal. The ultimate goal is to use prop firm profits to fund personal accounts.
Your worst drawdown is yet to come
  • #16,090
  • May 27, 2023 5:41am May 27, 2023 5:41am
Regarding MFFX, they grew very quickly. They are in the top 3 for me. The amazing thing is that they haven't figured out yet that all they need to do is adjust their DD to 9% (or 10) to definitely crush the competition (except MFF)

As said above, the real question is: will they manage to survive ?
  • #16,091
  • May 27, 2023 8:20am May 27, 2023 8:20am
Quoting Capablanca
{quote} The lab mice can't be always the same. We should produce a map here and a lottery to see who test what {quote} Uau, a new company in the arena and they come with that stupid rule of waiting 5 days, forcing people to make those retard 0.01 lots trades ? I don't get how new companies can come with idiot things like that these days, when so many others don't have time limit.
Prop firms with no time limits cater to the worst habit aspiring traders have, lack of patience. Most think it’s a positive benefit, it really isn’t.
Trade with confidence, trade without fear.
  • #16,092
  • May 27, 2023 9:24am May 27, 2023 9:24am
Quoting Cryptosurf
{quote} Prop firms with no time limits cater to the worst habit aspiring traders have, lack of patience. Most think it’s a positive benefit, it really isn’t.
How's that ? For people that don't have patience the no limit won't bring patience. They will go on wanting to pass it fast. So doesn't really matter if it's 30 days or unlimited.
For the other ones this can help. I faced myself several times with a 5% DD very close to the time limit, forcing made me to flip coins to see if I could get to break even to have a free retake, instead of losing the challenge fee. Sometimes I'm lucky, sometimes not.
With unlimited I could try to slowly recover that, not needing to risk so much.

I understand, though, that from prop perspective this is bad. But not from traders perspective.
  • #16,093
  • May 27, 2023 9:32am May 27, 2023 9:32am
the daily loss and account loss limits are more important than any other terms.

I have recovered many times from - 8 to - 9 % situation to complete the recovery to original balance.

Then i take free retry.

For passing the challenges, in my opinion and my experience, the account capital should never fall below 5 %.
Intraday only.
  • #16,094
  • May 27, 2023 9:36am May 27, 2023 9:36am
Quoting Capablanca
{quote} How's that ? For people that don't have patience the no limit won't bring patience. They will go on wanting to pass it fast. So doesn't really matter if it's 30 days or unlimited. For the other ones this can help. I faced myself several times with a 5% DD very close to the time limit, forcing made me to flip coins to see if I could get to break even to have a free retake, instead of losing the challenge fee. Sometimes I'm lucky, sometimes not. With unlimited I could try to slowly recover that, not needing to risk so much. I understand, though,...
I believe he is saying the "no minimum days" is bad for the trader as they try to complete in 1 day or 1 hour. The no maximum is a no brainer.....if we have two LEGITIMATE, PAYING FIRMS and one has no maximum and the other has, I'd say 100% of us are going with the no max.
Once again, though, I'm really only talking like if MFF did it, they would absolutely smash FTMO. I'm thinking TFTP is going to be very successful with it do to their size and reputation. As much as most here thing Angelo is an arrogant, egotistical bastard, I am sure he is not launching no time limit without extensive research. They are large enough where they have teams of people that are doing the research and running the models.
I, of course, am rooting for MFFX and any others doing the no time limit, but I need to see it proven to work before I jump in. Of course, it is a different stance I have already being funded. If I wasn't, these no max firms would certainly be more appealing to me.
  • #16,095
  • May 27, 2023 9:39am May 27, 2023 9:39am
The difference between 8 % account loss limit and 12 % account loss limit :

8 % account loss limit :

If you get into two consecutive days loss amounting to 7 %, third day, emotions comes in and violate.

12 % Account loss limit :

If you get into two consecutive days loss, you go slow and try to recover slowly, The extra 4 % available plays in the mind strongly.
Intraday only.
  • #16,096
  • May 27, 2023 9:43am May 27, 2023 9:43am
No time limit is stupid and defeats the purpose of a prop firm. We should be against it not for it as it will lead to massive negatives that we have already seen TFTP do with blatant manipulation to cause loss.

It might work for a little bit until the market doesn't see it as hype, then it will be the demise of some companies as servers fill up with trash, perform worse and ultimately lead to massive downfall.

Remember the free reset policies during the initial boom of prop firms, where did that go? It seems way more reasonable than no time limit as you essentially get a re-take.

If a pharmacist took 1 year to complete his exam, would you trust his medicine?
  • #16,097
  • May 27, 2023 9:54am May 27, 2023 9:54am
Quoting navk
The difference between 8 % account loss limit and 12 % account loss limit : 8 % account loss limit : If you get into two consecutive days loss amounting to 7 %, third day, emotions comes in and violate. 12 % Account loss limit : If you get into two consecutive days loss, you go slow and try to recover slowly, The extra 4 % available plays in the mind strongly.
Absolutely, if you are down say 6%, you have 2% left to make the 6% back just to get to even, it's 300%.
With 12%, you have 6 to make 6, it's 100%.
On live, it's a no brainer. On phase 1 of a challenge, getting to even gets you a free retry with most, but if target is say 8%, you are looking at 6 to make 14, which if you start over, you could pass both phases with that. Of course, then you are paying another fee.
It all depends on where you are in the process, how many other accounts you have, etc.
Keep in mind, the DD you get in the challenge is the DD you will have live.........so the more the better.
  • #16,098
  • May 27, 2023 9:57am May 27, 2023 9:57am
Quoting Takisd
No time limit is stupid and defeats the purpose of a prop firm. We should be against it not for it as it will lead to massive negatives that we have already seen TFTP do with blatant manipulation to cause loss. It might work for a little bit until the market doesn't see it as hype, then it will be the demise of some companies as servers fill up with trash, perform worse and ultimately lead to massive downfall. Remember the free reset policies during the initial boom of prop firms, where did that go? It seems way more reasonable than no time limit...
True, I'd rather have the pharmicist take 8 years. That actually solidifies the point of no max days. If these compnaies as they market "we are looking for good traders" (of course, the intelligent among us know they are not) wouldn't the firm rather see a consistent trader who hit the target slowly in 3-4 months vs. a trader that yolo'd for a day?
Ahh, you said exam not his degree. OK, I got you.
Still, to the point, this business is all about risk and the quicker they ask you to pass, the more risk involved. Would you invest your personal money in someone that states they can flip an account in 30 days.......I know I wouldn't
  • #16,099
  • May 27, 2023 10:02am May 27, 2023 10:02am
Quoting pipmaster77
{quote} Absolutely, if you are down say 6%, you have 2% left to make the 6% back just to get to even, it's 300%. With 12%, you have 6 to make 6, it's 100%. On live, it's a no brainer. On phase 1 of a challenge, getting to even gets you a free retry with most, but if target is say 8%, you are looking at 6 to make 14, which if you start over, you could pass both phases with that. Of course, then you are paying another fee. It all depends on where you are in the process, how many other accounts you have, etc. Keep in mind, the DD you get in the challenge...
There is another way to increase the loss limits by trading two or three challenge accounts.

Account - 1 : Allow 3 %.

Account -2 : Start trading after you see a loss of 3 % in account 1.

Account - 3 : Start trading after you see a loss of 3 + 3 % loss in account 1 and 2.

You trade only one pair... may be gbpusd
Intraday only.
  • #16,100
  • May 27, 2023 10:06am May 27, 2023 10:06am
Quoting pipmaster77
{quote} I believe he is saying the "no minimum days" is bad for the trader as they try to complete in 1 day or 1 hour. The no maximum is a no brainer.....if we have two LEGITIMATE, PAYING FIRMS and one has no maximum and the other has, I'd say 100% of us are going with the no max. Once again, though, I'm really only talking like if MFF did it, they would absolutely smash FTMO. I'm thinking TFTP is going to be very successful with it do to their size and reputation. As much as most here thing Angelo is an arrogant, egotistical bastard, I am sure...
Hummm.... you got a point. Now I'm not sure what Cryptosurf was talking about. If it was about unlimited days challenge or no minimum days to pass.

Anyway, unlimited days can't be worse for traders because you still have an option to pass in 30 days if you want. Or more if you prefer so.

No minimum days it's not bad either. If the prop allows people to pass in 1 hour and then fill the remaining days with 0.01 lot trades why is that different than no minimum days ? You just did the job in 1 hour and then have to wait another 4 or 5 days. For prop they will not extract more information and for us is worse.

So "No minimum days" = "Minimum 5 or 10 days" if they allow 0.01 lots.

It would be only different if Props had some kind of rule like you can't reduce your lot size by mor than 25% average (or so). This would avoid 0.01 trades. But then this would make things complicated and people would not like it.
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