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  • #17,521
  • Jul 6, 2023 8:58am Jul 6, 2023 8:58am
Quoting OutThere
I can almost guarantee that the issue of losing an account due to a spike, be it real or fake, is the lot size chosen. You can't tell me that you blew your 100k account because you had a few .01 lots open. Even 100 of them. It'd take quite a spike to kill a 100K account with a one lot+random spike. Or maybe they bought a 10K account. So, for a moment, lets say, there is a bit of that heavy trading going on. Some traders want it now and and a lot of times, they get it now. We see "I passed in only 4 hour" posts. That time a spike didn't happen...or...
Absolutely. Especially once funded, account should be traded as if it is your own money. If you are blowing an account because of one trade, YES, you are 100% doing something wrong. Passing does require a greater level of risk with the firms imposing a time limit, however, it still does not require you to risk it all on one trade. Once again, I and others here have repeated this numerous times, risk MUST BE BASED ON AVAILABLE LOSS as that is you're actual trading account. Personally, on my funded accounts it is 2% of available loss, when attempting phase 1, I bump it to 6-8%.
The folks passing in 4 hours also have the risk of losing in 4 hours. They are either a. clueless, b. get lucky one time, c. are purchasing challenge after challenge. I'm sure there are also some very good traders who have run the numbers of what they need to profit based on number of challenges purchased, etc....
Example, if you can pass 1 out of 3 and only earn 1.3% on the funded, you are at break even, anything over 1.3% is profitable.
  • #17,522
  • Jul 6, 2023 9:13am Jul 6, 2023 9:13am
Quoting GoldChaser79
Can someone help me understand why my Sell stop this morning for the gold sell was moved? It was set at 1924.32 then moved to 1920.77. What does deal even mean? this is the first time this has happened. {image}
Slippage, probably due to news.
  • #17,523
  • Jul 6, 2023 10:04am Jul 6, 2023 10:04am
Quoting pipmaster77
{quote} risk MUST BE BASED ON AVAILABLE LOSS as that is you're actual trading account. Personally, on my funded accounts it is 2% of available loss, when attempting phase 1, I bump it to 6-8%.
For clarity....If the daily drawdown is 5% you will only risk (5% x 2%) = .1% of the total account? Does this require you to get a ton of trades on?

On phase 1 you're risking (5% x 8%) = .4%? Is my math right?

I'm mostly swing traded so I'm trying to wrap my head around getting to a 10% target quickly, without resorting to recklessness.
  • #17,524
  • Jul 6, 2023 10:14am Jul 6, 2023 10:14am
Quoting beastwork
{quote} For clarity....If the daily drawdown is 5% you will only risk (5% x 2%) = .1% of the total account? Does this require you to get a ton of trades on? On phase 1 you're risking (5% x 8%) = .4%? Is my math right? I'm mostly swing traded so I'm trying to wrap my head around getting to a 10% target quickly, without resorting to recklessness.
Eliminate the "quickly" if you are swing trading. Yes, the calculations are correct, although it is 2% of TOTAL DD, goal is 10% of the max loss or 1% of equity per week, however 0.5% works also. Keep in mind the goal is max funding atleast at the big 2 and then there are maybe 3-4 others you can add. 0.5-1.0% of a million is not a bad living.
This is why the risk is 3-4x during phase 1 due to the 30-60 day time frame. Keep in mind, just stay profitable, if you don't hit target, it is free retry or extension (depending on how close you are). I've only passed maybe 2-3 without a retry or extension.
  • #17,525
  • Jul 6, 2023 10:34am Jul 6, 2023 10:34am
Quoting pipmaster77
{quote} Eliminate the "quickly" if you are swing trading. Yes, the calculations are correct, although it is 2% of TOTAL DD, goal is 10% of the max loss or 1% of equity per week, however 0.5% works also. Keep in mind the goal is max funding atleast at the big 2 and then there are maybe 3-4 others you can add. 0.5-1.0% of a million is not a bad living. This is why the risk is 3-4x during phase 1 due to the 30-60 day time frame. Keep in mind, just stay profitable, if you don't hit target, it is free retry or extension (depending on how close you are)....
Thanks for confirming. I have very few concerns about profitability, I just don't have a go to strategy to force 10% out of the market in a given month. Time to tighten up those stops I guess.
  • #17,526
  • Jul 6, 2023 10:48am Jul 6, 2023 10:48am
I passed yet another phase 2 and earned another 100k funded account today.

I will now merge 2x100k accounts and trade
Attached Image (click to enlarge)
Click to Enlarge Name: book3.png Size: 41 KB
Intraday only.
  • #17,527
  • Jul 6, 2023 11:43am Jul 6, 2023 11:43am
Rut Roh. Looks like we all pissed off Dougie boy
Attached Image (click to enlarge)
Click to Enlarge Name: doug.jpg Size: 212 KB


PS. Sorry I rarely offer anything of value on this thread
Pride always comes before destruction.... -Proverbs 16:18
  • #17,528
  • Jul 6, 2023 11:48am Jul 6, 2023 11:48am
Quoting Nsak3y
{quote}-I can understand reporting them here and in other trader groups, blacklisting them, leaving them a scathing review etc., but reporting them to US regulatory groups is just stupid and selfish. As traders, we should understand and accept the risks that we take on when trading with these firms. The opportunity that has been afforded to us is unlike any that we have ever seen in the history of trading. You either accept that you could get scammed and mitigate that risk accordingly, or, you move on and do something else. Sorry to be so harsh,...
So it was stupid and selfish.

What a crock of shit.
Mark ... Everything you have been told is a LIE
  • #17,529
  • Jul 6, 2023 11:50am Jul 6, 2023 11:50am
Quoting donfriday
{quote} you didnt check the rules? bootcamp and highstake is 14 days inactive now all account is unlimited
The rules were changed without notice.
Mark ... Everything you have been told is a LIE
  • #17,530
  • Jul 6, 2023 12:07pm Jul 6, 2023 12:07pm
Quoting beastwork
{quote} Thanks for confirming. I have very few concerns about profitability, I just don't have a go to strategy to force 10% out of the market in a given month. Time to tighten up those stops I guess.
Keep in mind, with extensions, MFF is 60 and FTMO is 45. Phase 1 is truly the only issue, phase 2 is 5% in 60 days with both. I'd start with MFF as phase 1 is 8% with 12% DD vs. 10%/10% with FTMO.
  • #17,531
  • Jul 6, 2023 12:08pm Jul 6, 2023 12:08pm
Quoting Expo33
Rut Roh. Looks like we all pissed off Dougie boy {image} PS. Sorry I rarely offer anything of value on this thread
I must be extra special, I was first on the ignore list.
  • #17,532
  • Jul 6, 2023 12:19pm Jul 6, 2023 12:19pm
Need to mention here.

THe screenshot i posted above shows , I passed phase 2 today.

Would like to point out that, the account went into - 7 % loss..meaning 93k at one stage.

Because, the account is with MFF, I did survive,,and slowly recovered from loss at the biginning, but when there was opportunity, i just took my chance to trade with good lot size today ( with risk defined )

Traders to note that MFF overall loss limit is 12 % against some prop firms 8 %.

I did mention earlier too... with MFF , it is possible to recover the account from - 7 % to - 8 %, because you can afford to loose another 4 % on another day, when you wish to take your chances to recover from loss state.

Had it been another firm, the emotion would have played in my mind and recovery from - 7 % is next to impossible.

The advice :

The loss limit of minimum 10 % to 12 % is needed to trade prop firm account.
Intraday only.
  • #17,533
  • Jul 6, 2023 12:28pm Jul 6, 2023 12:28pm
Quoting spzd
{quote} The rules were changed without notice.

the contract terms and condition says rules can change without notice but u will see on dashboard u can check it weekly
MY OPINION NOT FINANCIAL ADVISE
  • #17,534
  • Jul 6, 2023 12:31pm Jul 6, 2023 12:31pm
Quoting donfriday
{quote} the contract terms and condition says rules can change without notice but u will see on dashboard u can check it weekly
Blah, blah, blah ...
Mark ... Everything you have been told is a LIE
  • #17,535
  • Jul 6, 2023 1:11pm Jul 6, 2023 1:11pm
Quoting Nsak3y
{quote}-This is even more concerning when CEO of TFTP seems to want to apply different slippage for different traders, based on how they trade.
I believe this to be true. I've once compared the feed from the actual 8cap broker vs a prop firm 8 cap broker. At one time when I was successfully scalping this prop firm changed the spread on me to be erratic spread widening, it goes from small spread to big spread while it remains stable at the actual 8cap broker. And there is always a slippage, commission is also too high. I don't trust prop firms that uses 8 cap.
  • #17,536
  • Jul 6, 2023 1:16pm Jul 6, 2023 1:16pm
Quoting spzd
So it was stupid and selfish. What a crock of shit.
-Feel free to share why you disagree, sir.
  • #17,537
  • Jul 6, 2023 1:16pm Jul 6, 2023 1:16pm
Quoting beastwork
I just don't have a go to strategy to force 10% out of the market in a given month. Time to tighten up those stops I guess.
-Maybe try to ladder your buys and scale into your position when you are in profit.
  • #17,538
  • Jul 6, 2023 1:38pm Jul 6, 2023 1:38pm
Quoting Nsak3y
{quote}-Maybe try to ladder your buys and scale into your position when you are in profit.
Yeah I know what to do, but it's just not how I "want" to trade. I like my nice large stop losses that don't require me to obsess over my entries. I get really good annual returns this way, but it's not a good fit for these "evaluations". I just need to make a few adjustments.
  • #17,539
  • Jul 6, 2023 1:52pm Jul 6, 2023 1:52pm
Quoting beastwork
{quote} Yeah I know what to do, but it's just not how I "want" to trade. I like my nice large stop losses that don't require me to obsess over my entries. I get really good annual returns this way, but it's not a good fit for these "evaluations". I just need to make a few adjustments.
Yes, adjustments ONLY need to be made during the evaluations. Once funded, there are no targets/ time limits, so you just trade as normal.
  • #17,540
  • Jul 6, 2023 3:27pm Jul 6, 2023 3:27pm
Quoting AaronPriest
{quote} it's too ambiguous. Bootcamp and Hyper Growth are simpler, but have a much higher profit target than max drawdown with a low leverage, so not a great value. Of the three plans, I like the Hyper Growth the best.
Do you think the Bootcamp is a waste of time with it's lousy 1:10 leverage? I can't quite decide between Hypergrowth and Bootcamp. The 3% daily shutdown in Hypergrowth is a real turnoff.
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