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  • #22,241
  • Sep 20, 2023 8:24am Sep 20, 2023 8:24am
Quoting navk
{quote} What is the difference between dollar cost averaging ( DCA ) and Martingale ?
DCA is adding with Factor <1.0 to floating loss with same direction same symbol. Martingale is adding with multiplied Factor >1.0 to floating loss....smooth Martingale is Factor = 1.0 which is also not welcomed. All clear to me.
  • #22,242
  • Sep 20, 2023 8:26am Sep 20, 2023 8:26am
Quoting TrAndy1
Okay this is official crowd opinion here of still legit prop firms. 1. FTMO 2. FXIFY 3. ACG 4. Tradingpit 5. 5ers 6. ....?
TFF
  • #22,243
  • Sep 20, 2023 8:30am Sep 20, 2023 8:30am
Quoting TrAndy1
{quote} DCA is adding with Factor <1.0 to floating loss with same direction same symbol. Martingale is adding with multiplied Factor >1.0 to floating loss....smooth Martingale is Factor = 1.0 which is also not welcomed. All clear to me.
Might be clear at one moment in time. But too many rules being changed too frequently make it a mess while all that should really matter is the DD and not misusing the MT demo environment (which non of the DCA, grid and martingale do)
Money is made by sitting, not trading
  • #22,244
  • Sep 20, 2023 8:34am Sep 20, 2023 8:34am
Quoting TrAndy1
{quote} DCA is adding with Factor <1.0 to floating loss with same direction same symbol. Martingale is adding with multiplied Factor >1.0 to floating loss....smooth Martingale is Factor = 1.0 which is also not welcomed. All clear to me.
With Benspoke, DCA allwed ?

Martingale allowed ?

Y ou are trading with them I guess
Intraday only.
  • #22,245
  • Sep 20, 2023 8:36am Sep 20, 2023 8:36am
Quoting Nsak3y
{quote}-This is what we have devolved to... legitimacy within ranges, or to a certain degree. It reminds me how the FDA allows things like rat droppings in our foods so long as the amount does not exceed some seemingly-arbitrary number.
Man, people have been mass reporting TFT to CFTC today thinking they will get some sort of million dollar reward hahaha.
  • #22,246
  • Sep 20, 2023 8:37am Sep 20, 2023 8:37am
Quoting navk
{quote} With Benspoke, DCA allwed ? Martingale allowed ? Y ou are trading with them I guess
I just got it confirmed by the CFO. That DCA is allowed with Bespoke NOW.
Martingale and Grid is still not allowed. So do not add same (or higher) positon size in same direction with same symbol while being in floating loss.
Scaling out with too many limit orders (more than 2) is also not welcomed because of no Grid trading. That is all.
  • #22,247
  • Sep 20, 2023 8:38am Sep 20, 2023 8:38am
Quoting Takisd
{quote} Man, people have been mass reporting TFT to CFTC today thinking they will get some sort of million dollar reward hahaha.
They probably read this and run for it
https://twitter.com/CFTC/status/1704204121761255631
  • #22,248
  • Sep 20, 2023 8:39am Sep 20, 2023 8:39am
Quoting Vitore
{quote} Might be clear at one moment in time. But too many rules being changed too frequently make it a mess while all that should really matter is the DD and not misusing the MT demo environment (which non of the DCA, grid and martingale do)
Does not matter to me. They are 1 year old company. They can change the rules, the only thing what matters (to me) that the changed rules are going forward and are not considered in past back. That is all what I want.
  • #22,249
  • Sep 20, 2023 8:40am Sep 20, 2023 8:40am
Quoting TrAndy1
{quote} I just got it confirmed by the CFO. That DCA is allowed with Bespoke NOW. Martingale and Grid is still not allowed. So do not add same (or higher) positon size in same direction with same symbol while being in floating loss. Scaling out with too many limit orders (more than 2) is also not welcomed because of no Grid trading. That is all.
one order mistakenly placed at the wrong side of the previous one by 1 pip and your whole funded account is screwed. You might be in a huge profit overall and miles away from the DD but rules are rules. Great but no, thank you
Money is made by sitting, not trading
  • #22,250
  • Sep 20, 2023 8:43am Sep 20, 2023 8:43am
Quoting Capablanca
{quote} They probably read this and run for it https://twitter.com/CFTC/status/1704204121761255631
"Whistleblowers are eligible to receive between 10 and 30 percent of the monetary sanctions collected. All whistleblower awards are paid from the CFTC’s Customer Protection Fund, which was established by Congress, and is financed entirely through monetary sanctions paid to the CFTC by violators of the CEA. No money is taken or withheld from injured customers to fund the program."
  • #22,251
  • Sep 20, 2023 8:44am Sep 20, 2023 8:44am
Quoting navk
{quote} What is the difference between dollar cost averaging ( DCA ) and Martingale ?
Classic Martingale definition is when you double your lot size (or risk via SL) for trades that are in drawdown. But now a lot of people accept that it can be any multiplier and not just 2x.

Dollar Cost Averaging is the same lot size (or risk via SL) on every trade, but the trades are evenly distributed over a period of time, like a buy or sell every day or every four hours, etc. to get an average price for entry, dividing your total trade size into many smaller ones.

Grid trading is very similar to DCA, but instead of placing your trades over time, you are placing them equal distances in price difference, regardless of time. The goal is also to get a better price entry by averaging it in your favor, but the price can also obviously continue further out of your favor incurring more losses as you place more trades.

A lot of these prop firms get creative with their own special definitions of the above three styles of trading, by saying some are only market orders, and some are only limit orders, and that martingale is the same lot/risk for each trade like DCA or grid when it is not, etc., etc. As long as you can get precise definitions of their rules and they don't keep flip flopping on them every week, it's not a problem. It's just a lot to keep track of if you trade copy between firms. I stay away from the prop firms that have loose or inconsistent definitions that constantly change.
  • #22,252
  • Sep 20, 2023 8:44am Sep 20, 2023 8:44am
Quoting Vitore
{quote} one order mistakenly placed at the wrong side of the previous one by 1 pip and your whole funded account is screwed. You might be in a huge profit overall and miles away from the DD but rules are rules. Great but no, thank you
NOT true. You only get your profit deducted from those trades. This is only a soft breach, you cannot get violated your funded account because of that. Big difference!
  • #22,253
  • Sep 20, 2023 8:44am Sep 20, 2023 8:44am
There are some misconceptions here about DCA:

https://www.investopedia.com/terms/d...taveraging.asp

 

  1. "Dollar-cost averaging is the practice of systematically investing equal amounts of money at regular intervals, regardless of the price of a security."

trading is like dancing, don't think and just listen to the music!
  • #22,254
  • Sep 20, 2023 8:46am Sep 20, 2023 8:46am
Quoting TrAndy1
{quote} What is not clear ? Grid has been defined and Martingale too. Smooth Martingale is Factor = 1.0. DCA is then adding less lot size to current position when being in floating loss. That has been removed. I did hear that so far in Discord. But then you have more info here. It is all clearly expressed for me. I do not know what is your problem.
My problem is that they said DCA was removed (with a specific definition). And then two days later re-introduced a new rule called "soft martingale", with the exact same definition of DCA that they had said was removed.
  • #22,255
  • Sep 20, 2023 8:47am Sep 20, 2023 8:47am
Quoting birdland
There are some misconceptions here about DCA: https://www.investopedia.com/terms/d...taveraging.asp "Dollar-cost averaging is the practice of systematically investing equal amounts of money at regular intervals, regardless of the price of a security."
There are different definitions. That is why in the finance world you need to define first in any paper. Often there are different interpretations of the same term. So nothing special. You only need to listen and read how it is defined.
  • #22,256
  • Sep 20, 2023 8:49am Sep 20, 2023 8:49am
Quoting TrAndy1
{quote} NOT true. You only get your profit deducted from those trades. This is only a soft breach, you cannot get violated your funded account because of that. Big difference!
You're possibly right. That's why I don't want to trade with firms who have such useless rules which get changed every other day anyways. Waste of my old brain's capacity
Money is made by sitting, not trading
  • #22,257
  • Sep 20, 2023 8:50am Sep 20, 2023 8:50am
Quoting AaronPriest
{quote} My problem is that they said DCA was removed (with a specific definition). And then two days later re-introduced a new rule called "soft martingale", with the exact same definition of DCA that they had said was removed.
Again this is all about soft breaches, that from your third added position on those profits will be deducted. No account violation at all. Now it is clearly defined. Maybe there was some mess a few days earlier, but this is corrected now. Even in Discord they had not discussed that so nearly noone did know that before. Just ask this again elsewhere to get a double confirmation, maybe also from different staff too. Then it should be fine. I have no problems with that.
  • #22,258
  • Sep 20, 2023 8:52am Sep 20, 2023 8:52am
Quoting AaronPriest
{quote} My problem is that they said DCA was removed (with a specific definition). And then two days later re-introduced a new rule called "soft martingale", with the exact same definition of DCA that they had said was removed.
Don't waste your mental capacity on that. It will change tomorrow anyways
Money is made by sitting, not trading
  • #22,259
  • Sep 20, 2023 8:54am Sep 20, 2023 8:54am
Quoting Takisd
{quote} Man, people have been mass reporting TFT to CFTC today thinking they will get some sort of million dollar reward hahaha.
Yeah, man. Avoid TFT like the plague.

I did get my payout of $34, but they sent it without the refund and the live chat doesn't even respond.

And it's strange that they don't pay people first-in-first-out. Some have been waiting since September 1-9. I requested mine on the 15th.
Furthermore they only let people request via crypto, if Wise doesn't support their country/Wise closes their account... and most of the crypto requests apparently get denied. Like wtf is the problem??? Stinks from all sides.
  • #22,260
  • Sep 20, 2023 8:56am Sep 20, 2023 8:56am
Quoting Vitore
{quote} Don't waste your mental capacity on that. It will change tomorrow anyways
For 5-figure payouts I am listening and have no problems with my mental capacity
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