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  • #18,961
  • Aug 24, 2023 2:43pm Aug 24, 2023 2:43pm
Quoting navk
{quote} How do you manage trades with many firms. Just a question. When I get into that situation, I need to manage. Trade copier ? Some do not agree copying from firm to firm
I manually trade all my accounts. I don't use copier. I trade conservatively on my funded accounts, Once the account hits 1% to 2%, I stop trading the account, it usually takes me 1 to 3 days on those funded accounts. I don't care how appealing the price is. I tuck the account away in the far corner of my screen, I don't touch it again till I get the payout. I want to fill my calendar full of paydays if I can. I normally trade 3 accounts a day. I don't need to copy trades.
  • #18,962
  • Aug 24, 2023 2:46pm Aug 24, 2023 2:46pm
Quoting Boulder
{quote} I manually trade all my accounts. I don't use copier. I trade conservatively on my funded accounts, Once the account hits 1% to 2%, I stop trading the account, it usually takes me 1 to 3 days on these funded accounts. I don't care how appealing the price is. I tuck the account away in the far corner of my screen, I don't touch it again till I get the payout. I want to fill my calendar full of paydays if I can. I normally trade 3 accounts a day. I don't need copy
very good strategy.

Yes, trading one to three account at a time is good for a specified percentage.
Intraday only.
  • #18,963
  • Aug 24, 2023 2:50pm Aug 24, 2023 2:50pm
Quoting navk
{quote} very good strategy. Yes, trading one account at a time is good for a specified percentage.
Also, you have no pressure,,,, you always have a backup plan incase one account does not work,..
  • #18,964
  • Aug 24, 2023 3:17pm Aug 24, 2023 3:17pm
Quoting SheikhCarlos
{quote} Thanks for the reply Takisd, it opens up more questions I guess: Sounds like a grey area with risk management where they can decide whatever they like? Telling them I'm going to trade $250/tick on Oil from the start with a 12 tick stop loss might help? The same strategy on more than 2 accounts is the rule that they could use as an excuse not to pay out after all the hard work has been done I guess! My strategy is only for me. However what's to say another FTMO trader isn't deploying the same strategy? Unlikely to be executing trades at exactly...
If you are trading legit, you should be fine with them, if your position size is $250/tick it depends what a tick means to you, a traditional tick or a new age tick?.

FTMO are fairly good at removing people they dont want before live accounts. But usually with no refund. Perhaps if you drop from $250 a tick to 80 per tick its still plenty and you will be safe and it will be worth it. The per strategy rule is a bit weird but its built to stop like fund managers and signals and copy trader guys who are not trading their own strategy. Haven't seen many people banned for that but only a few and it was blatant copy trading.
  • #18,965
  • Aug 24, 2023 3:18pm Aug 24, 2023 3:18pm
Quoting Boulder
{quote} I manually trade all my accounts. I don't use copier. I trade conservatively on my funded accounts, Once the account hits 1% to 2%, I stop trading the account, it usually takes me 1 to 3 days on those funded accounts. I don't care how appealing the price is. I tuck the account away in the far corner of my screen, I don't touch it again till I get the payout. I want to fill my calendar full of paydays if I can. I normally trade 3 accounts a day. I don't need to copy trades.
The math behind a $250k / year day trading - $20.8k / month - avg $1.1k / Trading day
The math behind a $100k / year day trading - $8.3k / month - avg $415 / Trading day

You don't need to be greedy in prop trading, you can make a very good living like your friends working in corp.
  • #18,966
  • Aug 24, 2023 3:21pm Aug 24, 2023 3:21pm
Quoting Boulder
{quote} The math behind a $250k / year day trading - $20.8k / month - avg $1.1k / Trading day The math behind a $100k / year day trading - $8.3k / month - avg $415 / Trading day You don't need to be greedy in prop trading, you can make a very good living like your friends working in corp.
Excellent strategy.

Appreciate sharing here.
Intraday only.
  • #18,967
  • Aug 24, 2023 5:01pm Aug 24, 2023 5:01pm
I had to sort out two issue with 5ers support related with Deel and payout. I must say that it was, by far, the best support I ever had in props.
People understanding the issue, not replying like bots and solving or addressing the issue to the right department.
I really hate when we get guys that ask us "what can I help you" when we just explained the problem. Or those that scan a key word in our chat and shoot the automatic response like a monkey. Hats off to 5ers for their support.

Btw, I receive already the payout + refund from them, although not fast because there was a problem with my contract. Next week I'm due to another payout. This time I'll see the real time they take to process.
Anyway, as I said some days ago, the process is very good because we click in request payout, the money is deducted from the account and we can go on trading normally. It's like MFFx. They both have the best payout process right now. I hate downtime during payouts.
  • #18,968
  • Aug 24, 2023 5:11pm Aug 24, 2023 5:11pm
Quoting Capablanca
{quote} Maybe it's wishful thinking but I agree that FXIFY will be around for a while. At this moment my bet of props to stay longer in the market is: FTMO/MFF/TFT/FXIFY TFF/E8 -> these two may be struggling more than the other four This is based just in gut feeling (it's a lie -> obviously I'm being paid generously by these companies to say this)
I had a look at FXIFY and the thing I don't like is that they charge extra for features that are included for free at other prop firms.

They are literately charging extra for things that other well known firms include for free, so after adding the extras it does't make it very competitively priced at all, it actually becomes rather expensive.
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  • #18,969
  • Aug 24, 2023 5:30pm Aug 24, 2023 5:30pm
Quoting mrdfx
{quote} I had a look at FXIFY and the thing I don't like is that they charge extra for features that are included for free at other prop firms. They are literately charging extra for things that other well known firms include for free, so after adding the extras it does't make it very competitively priced at all, it actually becomes rather expensive. {image}
Yep, it depends on what you want. I only pay for bi weekly and 90% and the price becomes more of less like the others, using discounts that we can always find in prop groups. I know I'm paying the same and not having so much leverage and not having unlimited but I don't really care much about it.
  • #18,970
  • Aug 24, 2023 6:05pm Aug 24, 2023 6:05pm
Quoting Takisd
{quote} The one thing that is ragingly obvious to anyone who is paying attention is that people are more likely to get a big payout from MFF than any other firm and FTMO has an old history of big payouts (but not a new one).
FTMO got wrecked last summer by overnight position traders that took advantage of their balance based limit rule by scaling into the usd/jpy carry trade during a strong bull trend as the fed was in the middle of their >1 year aggressive hike cycle. Since FTMO changed to equity limit rule w/ 200K less max funding & 2% less drawdown, the lower payouts than MFF make sense. However, they should still be paying a few >50K payouts monthly though.
  • #18,971
  • Edited 7:35pm Aug 24, 2023 6:35pm | Edited 7:35pm
Quoting Boulder
{quote} Also, you have no pressure,,,, you always have a backup plan incase one account does not work,..
Do you trade an account that quickly gets into drawdown until you get to 1-2% before switching?
  • #18,972
  • Aug 25, 2023 12:29am Aug 25, 2023 12:29am
Quoting CableJ
{quote} Do you trade an account that quickly gets into drawdown until you get to 1-2% before switching?
If you talk about funded accounts, I don't get in DD quickly since I use a much smaller position compared to my challenge accounts. I try not to go over 0.5% DD.
If I can control DD under 0.5%, 1% to 2% return is easy to reach..
Just pay attention to your accounts, to see how often and easy to make that 1% to 2%. most traders don't stop at 1% to 2% gain and end up giving all back.
1% to 2% of $100k accounts is $1k /2K every two weeks, Think about if you have a few of those $100k accounts, it will really make a difference in people's lives.
  • #18,973
  • Aug 25, 2023 12:30am Aug 25, 2023 12:30am
okay so 1st payout from "smartproptrader" just hit my bank account today cool
it was 100 $ + 67 $ refund = 167 $ total
and the best thing is that 2nd payout from "smartproptrader" is already ready due on 4th september or 5th september
it will be 250 $, although i have 7 trading days till that date, meaning i can make more profit, i can trade more, but i don't want to be greedy
i will not touch this account no matter how good or how perfect trade seems to me... i will not be greedy

as i have other two accounts on which i am working
"true forex funds" live account 10k which is currently in drawdown not able to make any payout from it till now and already 1 month completed but still no payout
"e8 phase1" currently running 30 days trading, still not able to pass it, may be it will take another 30 days to complete who knows
  • #18,974
  • Aug 25, 2023 12:46am Aug 25, 2023 12:46am
Quoting genuine007
okay so 1st payout from "smartproptrader" just hit my bank account today cool it was 100 $ + 67 $ refund = 167 $ total and the best thing is that 2nd payout from "smartproptrader" is already ready due on 4th september or 5th september it will be 250 $, although i have 7 trading days till that date, meaning i can make more profit, i can trade more, but i don't want to be greedy i will not touch this account no matter how good or how perfect trade seems to me... i will not be greedy as i have other two accounts on which i am working...
I am happy for you.. Don't be greedy,,, wait for the payout.. You probably even trade better, and more relaxed in your challenge accounts knowing you have money coming ...
  • #18,975
  • Edited 5:30am Aug 25, 2023 3:10am | Edited 5:30am
Quoting Boulder
{quote} If you talk about funded accounts, I don't get in DD quickly since I use a much smaller position compared to my challenge accounts. I try not to go over 0.5% DD. If I can control DD under 0.5%, 1% to 2% return is easy to reach
So your per trade risk is lowered to the point where your system's historical maximum loss streak + maximum drawdown is only .5% of the 1 traded 100K account or is that .5% DD of overall total funding? thanks

One of the benefits to your method is that it potentially allows you to increase funding with the smaller firms. You're not likely to be denied 1-2K payments @ a time vs trading the entire month on a >200K account & running into a >10% return, where now you have to concerned if they will make that large payout.
  • #18,976
  • Edited 6:10am Aug 25, 2023 5:52am | Edited 6:10am
Quoting CableJ
{quote} So your per trade risk is lowered to the point where your system's historical maximum loss streak + maximum drawdown is only .5% of the 1 traded 100K account or is that .5% DD of overall total funding? thanks
For $100k funded account, I trade 1 lot per trade, max 3 to 4 positions , i do fast scalp, I aim for $1000 to $2000 profit , I then stop trading the account , I tried not to go over $500 total DD, so I flat trades very quick. Most of time , it took me 2 to 3 days to get it done. Once done, I won’t touch those accounts till I get payouts .
Occasionally I did have a bad run, I did use 10 lot one trade to recover, this aggressive trading happened very rarely though in my funded accounts, maybe once in three months
  • #18,977
  • Edited 6:36am Aug 25, 2023 6:22am | Edited 6:36am
Quoting CableJ
{quote} So your per trade risk is lowered to the point where your system's historical maximum loss streak + maximum drawdown is only .5% of the 1 traded 100K account or is that .5% DD of overall total funding? thanks One of the benefits to your method is that it potentially allows you to increase funding with the smaller firms. You're not likely to be denied 1-2K payments @ a time vs trading the entire month on a >200K account & running into a >10% return, where now you have to concerned if they will make that large payout.
I see you added more comments. It’s not I don’t want over 10% return. I could have make it if I tried. My main goal in funded accounts is not to grab fast money, its last long enough to reach VIP program, Some VIP program, you get paid not only with high % and also get paid every day
  • #18,978
  • Aug 25, 2023 6:27am Aug 25, 2023 6:27am
Quoting Capablanca
I had to sort out two issue with 5ers support related with Deel and payout. I must say that it was, by far, the best support I ever had in props. People understanding the issue, not replying like bots and solving or addressing the issue to the right department. I really hate when we get guys that ask us "what can I help you" when we just explained the problem. Or those that scan a key word in our chat and shoot the automatic response like a monkey. Hats off to 5ers for their support. Btw, I receive already the payout + refund from them, although...
Based on your advice, I took the matter to Mr. Matt, CEO, Fundedfx and got the matter resolved.

My Funded account 100 k has been re activated for trading.

Thank you very much for your advice.



" Dishonest and scam " comments being now removed about myfundedfx.
Intraday only.
  • #18,979
  • Aug 25, 2023 6:32am Aug 25, 2023 6:32am
Quoting Takisd
{quote} If you are trading legit, you should be fine with them, if your position size is $250/tick it depends what a tick means to you, a traditional tick or a new age tick?. FTMO are fairly good at removing people they dont want before live accounts. But usually with no refund. Perhaps if you drop from $250 a tick to 80 per tick its still plenty and you will be safe and it will be worth it. The per strategy rule is a bit weird but its built to stop like fund managers and signals and copy trader guys who are not trading their own strategy. Haven't...
Yeah I mean an old school tick, For example $79.50 to $79.60 is 10 ticks.

The problem is, you can trade the account through the challenges, trade for 14 days on the 'live' account and then ask for a profit share and FTMO say oh sorry there was more than one account trading the same/similar strategy!! They don't have to prove this or justify their decision, thus I lose a month in time and effort, my imaginary large profit share AND £1k in the fee I guess? How can this be fair? Surely within the challenge and verification stage they can say look you cant proceed because we already have other accounts trading the same strategy. Even after a day or two on the 'real' account they can say this, then refund the fee and everyone's happy!!
  • #18,980
  • Edited 7:03am Aug 25, 2023 6:34am | Edited 7:03am
Some of my posts about fundedfx are older so unable to delete.

Hence this post.

Readers, Please be advised that I withdraw all my bad comments about myfundedfx as they resolved the issues.
Intraday only.
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