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  • #18,421
  • Aug 2, 2023 8:24am Aug 2, 2023 8:24am
To be fair, scalping is a legitimate way to trade, so long as you can do it profitably. I cannot speak about 10-second trades with large volume, but to each their own. Brokers do not generally like scalpers, for obvious reasons, but most still allow it.

If a prop firm wants to prohibit scalping or implement a 30-second rule or similar, then they probably know that they will lose some business to other firms, although some smaller props do have this rule.

It all comes back to wanting your cake and eating it too. If a broker or prop wants to provide better trading conditions to attract more business, then they have to deal with the good and bad that comes with that (or implement prohibitive rules that will result in less business).
  • #18,422
  • Aug 2, 2023 8:44am Aug 2, 2023 8:44am
Quoting Nsak3y
To be fair, scalping is a legitimate way to trade, so long as you can do it profitably. I cannot speak about 10-second trades with large volume, but to each their own. Brokers do not generally like scalpers, for obvious reasons, but most still allow it. If a prop firm wants to prohibit scalping or implement a 30-second rule or similar, then they probably know that they will lose some business to other firms, although some smaller props do have this rule. It all comes back to wanting your cake and eating it too. If a broker or prop wants to provide...
Exactly. Have your cake and eat it too. That sums it up.
  • #18,423
  • Aug 2, 2023 8:48am Aug 2, 2023 8:48am
Scalping needs a definition, it used to be anyone with trades shorter than 2 minutes for the majority of their trades.

If this is how you are trading, its useless, you wont find a single LP in the world who will fill you at any size. Change markets if thats what you are doing, go to a centralized one where feeds cant just be dropped.

If scalping means, tight stops but holding for 30 minutes then its not really scalping and it has a future.

30 second trades, most likely its arb. In the demo competitions there are always cheaters and its nonsense.
  • #18,424
  • Aug 2, 2023 9:28am Aug 2, 2023 9:28am
I know that you do not like scalping. But, many brokers allow it and it is a profitable way of trading for some people. Also, I would not assume that most traders that are trading < 30-seconds are doing some kind of arb. Just my opinion.
  • #18,425
  • Aug 2, 2023 9:49am Aug 2, 2023 9:49am
Quoting Nsak3y
I know that you do not like scalping. But, many brokers allow it and it is a profitable way of trading for some people. Also, I would not assume that most traders that are trading < 30-seconds are doing some kind of arb. Just my opinion.
Possibly you are right but wholistically.... Who is sitting there making 30 second trades with their fingers? Yep, brokers accept scalpers for sure, but its not scalable. You can't scalp 100 lots of gbp/jpy for example as it blows out your R:R with slippage and we know that R:R is vital for scalping.
  • #18,426
  • Aug 2, 2023 11:10am Aug 2, 2023 11:10am
FTMO pass.
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Intraday only.
  • #18,427
  • Aug 2, 2023 12:31pm Aug 2, 2023 12:31pm
Quoting Takisd
Scalping needs a definition, it used to be anyone with trades shorter than 2 minutes for the majority of their trades. If this is how you are trading, its useless, you wont find a single LP in the world who will fill you at any size. Change markets if thats what you are doing, go to a centralized one where feeds cant just be dropped. If scalping means, tight stops but holding for 30 minutes then its not really scalping and it has a future. 30 second trades, most likely its arb. In the demo competitions there are always...
That's exactly what it is. Latency arb.
Trade with confidence, trade without fear.
  • #18,428
  • Aug 2, 2023 11:30pm Aug 2, 2023 11:30pm
Quoting Cryptosurf
{quote} That's exactly what it is. Latency arb.
Latency arbitrage is a strategy that profits from price quote lags between brokers.

Traders can use Expert Advisors (EAs) on Metatrader (MT4/MT5) to connect to multiple brokers and trade against the one with slower prices, knowing future quotes in advance.
=

Inserted Video

  • #18,429
  • Aug 3, 2023 3:47pm Aug 3, 2023 3:47pm
Quoting navk
FTMO pass. {image}
congratulations !!!

I need your trade manager EA or Indi whatever if its sharable?
If you believe in yourself anything is possible !!
  • #18,430
  • Aug 3, 2023 4:43pm Aug 3, 2023 4:43pm
Quoting imifx
{quote} congratulations !!! I need your trade manager EA or Indi whatever if its sharable?
https://www.forexfactory.com/thread/...2#post13681042
Intraday only.
  • #18,431
  • Aug 4, 2023 8:11am Aug 4, 2023 8:11am
MFF phase 1 passed. In 2 days !!

( SORRY, I NEED TO TRADE ANOTHER 3 DAYS TO MEET MANDATORY 5 DAYS IN LINE WITH TERMS AND CONDITIONS ..WILL TRADE 0.01 LOT SIZE FOR REST OF 3 DAYS )

This, I traded in my wife account.
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Intraday only.
  • #18,432
  • Aug 4, 2023 8:14am Aug 4, 2023 8:14am
Quoting navk
MFF phase 1 passed. In 2 days !! This, I traded in my wife account. {image}
  • #18,433
  • Aug 4, 2023 8:18am Aug 4, 2023 8:18am
Quoting navk
MFF phase 1 passed. In 2 days !! ( SORRY, I NEED TO TRADE ANOTHER 3 DAYS TO MEET MANDATORY 5 DAYS IN LINE WITH TERMS AND CONDITIONS ..WILL TRADE 0.01 LOT SIZE FOR REST OF 3 DAYS ) This, I traded in my wife account. {image}
You might get banned from MyFF as it is against terms and conditions
  • #18,434
  • Aug 4, 2023 8:26am Aug 4, 2023 8:26am
Quoting sampat
{quote} You might get banned from MyFF as it is against terms and conditions
We are one.

Intraday only.
  • #18,435
  • Aug 4, 2023 8:47am Aug 4, 2023 8:47am
Another NFP passes, another group of people who dont know how to trade complain on social media and discord because their straddles didnt work. Meanwhile, one prop firm is encouraging that behavior, UWM or whatever it is. "WATCH US MAKE MONEY ON NFP". Yep, I can too, just stick my account on instant execution and ill make bank.
  • #18,436
  • Aug 4, 2023 11:43am Aug 4, 2023 11:43am
well before posting all this update let me tell you why this is very important for me in my life..
first of all let me tell you i have not made a single penny from this market doing trading in 4 years journey..
along with this i have lost 50,000 $ in trading.. i lost my time, my money, my social life, my everything..
i also had to quit my studies because i was not able to focus on any one of them..


i stay awake all the nights watching charts in mobile..
i never had a sound sleep back then.. all that family pressure, pressure that i lost all this big money of 50,000 $.. everything went to zero..
felt like life is finished.. like someone just give me my all money back and i will be happy again, my life will be back again.. i will be happy person again.. but nothing changed.. also my relations with family members got worse.. we stopped talking to each other.. i become the most silent person in the family.. just focus on trading everyday.. watching on youtube about trading, started doing everything related to trading..
trading.. just trading all over my mind.. just one goal to better the situation.. to learn the skill of making money and not giving it back to the market.. how and whats that which makes the money.. how you can be correct.. how you can be psychologically fit to work in this market..
even today i fear that what if we are doing all things correct, making money.. but what if the broker just run away with all your money as nothing is going good in your life.. before you lost all the money, now you made all that money.. but now broker run away.. what to do.. why me??


my trading starts going good when i accepted that i have to stay in the game like forever
i cannot just close my all orders and just run away from this market taking all my money back
your orders will always be running in the market may be sell, may be buy, may be both
i have to go through all the pain of watching orders that are running red..

so guys what i have just planned that especially for the first two payouts from these 3 live accounts
i will not be using them to buy another challenges... instead i will use them to pay my debt emi to private money lenders
yeah guys.. i also have debt which i have to pay so you guys can understand how worse my situation is
well every account is important for me :
mff = 5k account live
tff = 10k account live
spt = 10k account live
but the most important account for me is e8 funding account = 250k
i don't know how i able to purchase this account as it was very costly..
actually i make a good trade in my personal trading account and from that profit i bought this e8 250k account as i did not have any money to buy challenges..


i heard ftmo back then 1 year ago.. but i did not give any thought to it
i started searching and finding about all these prop firms just now when my situation become worse and worse
when all my money just lost and left with no money to trade with..
my whole idea or intention of start to give a try to prop firms is to just come out of this trading mess and worse situation,
to come out of debt and to make all that 50,000 $ lost and to become happy again in my life
that's why this is very important for me and i want to do the best this time and win in trading and win in my life..
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  • #18,437
  • Edited 1:29pm Aug 4, 2023 11:50am | Edited 1:29pm
Quoting sampat
{quote} You might get banned from MyFF as it is against terms and conditions
I designed and constructed 132kv substation in Khamis mushayat at Abha. and King Khalid Airbase 132kk ss. For SCECO South

Also, I designed and constructed 230 kv substations Dhammam, Riyadh and Jubail for SCECO East.

You can verify my name in those substations.

Wherever I go.. I and other Nationals are one.

Had good time professionally there in KSA,
Intraday only.
  • #18,438
  • Edited 2:58pm Aug 4, 2023 11:59am | Edited 2:58pm
Quoting genuine007
well before posting all this update let me tell you why this is very important for me in my life.. first of all let me tell you i have not made a single penny from this market doing trading in 4 years journey.. along with this i have lost 50,000 $ in trading.. i lost my time, my money, my social life, my everything.. i also had to quit my studies because i was not able to focus on any one of them.. i stay awake all the nights watching charts in mobile.. i never had a sound sleep back then.. all that family pressure, pressure that i lost all this...
Good luck with your live accounts.. just remember the importance of prop trading is not about how many funded accounts you have, its payout.. make sure not get greedy on payout first,, the best traders in prop firms earned between 1% to 6% a month continuously ...

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  • #18,439
  • Aug 4, 2023 1:27pm Aug 4, 2023 1:27pm
Quoting genuine007
well before posting all this update let me tell you why this is very important for me in my life.. first of all let me tell you i have not made a single penny from this market doing trading in 4 years journey.. along with this i have lost 50,000 $ in trading.. i lost my time, my money, my social life, my everything.. i also had to quit my studies because i was not able to focus on any one of them.. i stay awake all the nights watching charts in mobile.. i never had a sound sleep back then.. all that family pressure, pressure that i lost all this...
Reading this mate tbh I would take another approach to life atm. Someone asked a wannabe pro trader if they traded on the side or had a comfy normal work business as main income in another forum. Since this is what can happen if you get gambler mindset. Thinking you can get it all back over and over. This also clouds how to best trade I noticed when one tries to do "desperate"trading. Since one must be calm, learning is progressively in calm atmosphere to find the best method for you and tactics and learning. Doing reports constantly. But if the feeling of stress is behind it, one misses vital parts I noticed as I did years back. I only saw the simplistic of trading when I was in that mood since I had no time for other things. If you try to get in a simplistic mood trading and rush it. Its over. So I cannot even imagine in that situation.

My advice anyhow. Since you lost 50k etc . Would be to try all you can get a decent job as main and pay off debt that way. Not through trading. The most vicious circle. When you got balance to pay that off with normal income. Then trading and learning would probably be better. But thats my hint what I noticed. Dont get tricked by the hyper prop firms marketing.
This guy who talked about how he survived thanks to Trading. He had some funds before doing it as cushion. Never ever overdo or abuse anything. Anyone must be careful.
Even escape to US get a job since they are desperate for normal workers there in all fields. Live in a car for 3 years and work as waiter in US almost all debt would been paid off. Stay real, watch out.
  • #18,440
  • Aug 4, 2023 1:35pm Aug 4, 2023 1:35pm
Quoting labu
{quote} Reading this mate tbh I would take another approach to life atm. Someone asked a wannabe pro trader if they traded on the side or had a comfy normal work business as main income in another forum. Since this is what can happen if you get gambler mindset. Thinking you can get it all back over and over. This also clouds how to best trade I noticed when one tries to do "desperate"trading. Since one must be calm, learning is progressively in calm atmosphere to find the best method for you and tactics and learning. Doing reports constantly. But...
A person who is known to me had lost 800,000 USD in trading.

Partly is his own money and rest is money collected from Public.

He lost all last year when euro went below parity.

He could not repay money to his clients.

He is in 30's. Trust me.
Intraday only.
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