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  • #27,061
  • Dec 6, 2023 9:50pm Dec 6, 2023 9:50pm
Quoting montygoldy
{quote} Depends i dont do it that doesn't mean its not good. Pipmaster said it right based on Personality.
True, there's no right or wrong, truly based on personality. Someone could disagree with all of us and share a better insight and technically be right. That's why it's good to have all traders' insight so other traders can learn and choose what they want to take or leave. I understand this thread is regarding Props so I don't want to derail it with "risk management" but I do feel it's an important topic. Just may not be the right forum. I'm a strong proponent of keeping the thread on topic as this is the only one I reference daily and look forward to catching up on the latest Prop news.
  • #27,062
  • Dec 6, 2023 11:28pm Dec 6, 2023 11:28pm
I tried to get the ACG 5K freebie but every time I tried to create an account a message popped up saying "Our company sucks try back later"
Pride always comes before destruction.... -Proverbs 16:18
  • #27,063
  • Dec 7, 2023 3:08am Dec 7, 2023 3:08am
Quoting pipmaster77
{quote} All of my risk is based on max loss. So a 100K account, with 10K max loss, that 1% is $100, so I risk 3% of max loss. I always chuckle when I see folks say, for example, the FTMO swing account leverage is ONLY 30:1, no it's 300:1 (on max loss), of which I use 5:1 on volatile instruments, 10:1 on most and 20:1 on slow movers, once again, ON MAX LOSS. So, yes, on 100K account, I trade anywhere from 5 micros to 2 standards. Trading in this manner allows me to average in/out and grind 5% daily (of max loss), 0.5% of the fake equity displayed....
Well done Pipmaster for your contribution on this thread. I want to ask you something.
Please FTMO swing account is it based on commission or no commission but only spread. what is their model? Thank you.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #27,064
  • Dec 7, 2023 4:55am Dec 7, 2023 4:55am
Directfundedtrading offers a large discount apparently , 60%. Are they new and can we trust them?

Are there any with large discount on ~100k accounts.
  • #27,065
  • Dec 7, 2023 6:29am Dec 7, 2023 6:29am
Quoting coastie0194
{quote} Hi Trading Fam, Just wanted to share that I passed phased 2 on ACG, trading UJ only. I submitted my KYC and waiting for funding account which is 2 to 5 days. So far so good, I'll keep everyone updated. I have a question for the funded traders as ONLY to help us traders with funded accounts or help traders pursuing funding accounts, which is all of you, I assume. What should the risk per trade on funded accounts be, regardless of "A" "B" or "C" setups. My gut tells me to keep trading 1% but what one thing that is overlooked is controlling...
Whatever my system's historical max losing streak & drawdown is... I reduce the per trade risk so that a repeat of that max drawdown = 40% of available drawdown. I've gone through extended drawdown periods @ times (months), however I have not blown an account in >2 years of prop trading, a black swan event would have to take me out.
  • #27,066
  • Dec 7, 2023 7:02am Dec 7, 2023 7:02am
Quoting martinez1
{quote} Well done Pipmaster for your contribution on this thread. I want to ask you something. Please FTMO swing account is it based on commission or no commission but only spread. what is their model? Thank you.
Commish....as I posted earlier, I try to avoid firms/brokers without commish....spread only is always going to cost more than a raw spread+ commish model.
  • #27,067
  • Dec 7, 2023 8:05am Dec 7, 2023 8:05am
Quoting Boulder
{quote} I think Nova is not like other HFT firms, it may survive for a long time. . They have 6% max profit sharing rule, which I think will help the company stay in business for some time. the rule is shown as " If a trader utilizes HFT during the evaluation stage at any point in order to assist with passing, the funded account profit split will reach its limit once a trader has gained 6% from the starting balance of the account. Any positive trading after the 6% gain from the initial balance will not be eligible towards your profit split. " By...
Take care in funding account because they trail your profit and you can fail in any time control risk in any time...
  • #27,068
  • Dec 7, 2023 9:36am Dec 7, 2023 9:36am
Quoting montygoldy
secured the freebie 5k from alpha capital…
hey montygold, do you know any other free prop programme this seaseon. Just passed stage one on alha capital...
Help a brother out.
  • #27,069
  • Dec 7, 2023 10:17am Dec 7, 2023 10:17am
I managed to get one of MFFX's 300 free 5K accounts this morning. Now I have to make two decisions:

1) 2-Step or 2-Step Pro? One is 8%/8% for drawdown/target with 100:1 leverage, the other is 10%/10% with 50:1 leverage. Both have 5% max daily loss. Phase two is also 5% target for both. I'm inclined to say Pro because the extra drawdown is better when passing Phase 2 or after being funded. I'm used to 10:1 to 30:1 leverage already, so 50:1 is more than enough for my risk tolerance and not much of a concern to me.

2) ThinkMarkets or Blueberry? I mostly swing trade, no scalping. I hold a lot over weekends and through rollovers with far enough away stop losses that they don't usually get hit during rollover, but that means I pay more in swap too.

What do you folks advise for pros/cons with those two decisions?
  • #27,070
  • Dec 7, 2023 10:28am Dec 7, 2023 10:28am
Quoting AaronPriest
I managed to get one of MFFX's 300 free 5K accounts this morning. Now I have to make two decisions: 1) 2-Step or 2-Step Pro? One is 8%/8% for drawdown/target with 100:1 leverage, the other is 10%/10% with 50:1 leverage. Both have 5% max daily loss. Phase two is also 5% target for both. I'm inclined to say Pro because the extra drawdown is better when passing Phase 2 or after being funded. I'm used to 10:1 to 30:1 leverage already, so 50:1 is more than enough for my risk tolerance and not much of a concern to me. 2) ThinkMarkets or Blueberry? I mostly...
I use Pro and thinkmarkets. since I don't need extra leverage, I dont see any issues with Thinkmarkets either . I only traded EurUsd and GbpUsd
  • #27,071
  • Dec 7, 2023 10:28am Dec 7, 2023 10:28am
Quoting AaronPriest
I managed to get one of MFFX's 300 free 5K accounts this morning. Now I have to make two decisions: 1) 2-Step or 2-Step Pro? One is 8%/8% for drawdown/target with 100:1 leverage, the other is 10%/10% with 50:1 leverage. Both have 5% max daily loss. Phase two is also 5% target for both. I'm inclined to say Pro because the extra drawdown is better when passing Phase 2 or after being funded. I'm used to 10:1 to 30:1 leverage already, so 50:1 is more than enough for my risk tolerance and not much of a concern to me. 2) ThinkMarkets or Blueberry? I mostly...
As you stated, both involve flipping the account in stage 1, the value of 10% DD once funded is superior IMO. Was going to ask if cost was the same, forgot they are free.
Broker, no idea, have used neither
  • #27,072
  • Dec 7, 2023 10:33am Dec 7, 2023 10:33am
Quoting pipmaster77
{quote} As you stated, both involve flipping the account in stage 1, the value of 10% DD once funded is superior IMO. Was going to ask if cost was the same, forgot they are free. Broker, no idea, have used neither
I guess the free account is non-pro only, so that answers that. I agree with you, I think Pro is a better deal. Both are $50 for $5K.
  • #27,073
  • Dec 7, 2023 10:37am Dec 7, 2023 10:37am
Regarding MFFX brokers...

ThinkMarket: Commissions are 7$ per standard lot across assets, except indices and cryptos which have zero commissions.
Blueberry: Commissions are 5$ per standard lot across forex assets, except Gold, indices and cryptos which have zero commissions
  • #27,074
  • Dec 7, 2023 10:46am Dec 7, 2023 10:46am
Quoting AaronPriest
I managed to get one of MFFX's 300 free 5K accounts this morning. Now I have to make two decisions: 1) 2-Step or 2-Step Pro? One is 8%/8% for drawdown/target with 100:1 leverage, the other is 10%/10% with 50:1 leverage. Both have 5% max daily loss. Phase two is also 5% target for both. I'm inclined to say Pro because the extra drawdown is better when passing Phase 2 or after being funded. I'm used to 10:1 to 30:1 leverage already, so 50:1 is more than enough for my risk tolerance and not much of a concern to me. 2) ThinkMarkets or Blueberry? I mostly...
If that was free, Pro with 10%/10% is always superior, unless you need more that 1:50.
In both cases you will have to flip 1:1 on phase one and 1:2 on phase 2.
So difficult to pass is the same, mathematically, and on Pro you get 10% DD in funded account instead of only 8%.
  • #27,075
  • Dec 7, 2023 10:50am Dec 7, 2023 10:50am
Quoting Capablanca
{quote} If that was free, Pro with 10%/10% is always superior, unless you need more that 1:50. In both cases you will have to flip 1:1 on phase one and 1:2 on phase 2. So difficult to pass is the same, mathematically, and on Pro you get 10% DD in funded account instead of only 8%.
Yeah, that was my thought as well. Turns out the free account doesn't apply to Pro or I would choose that. If I was buying a $5K account, that's what I would go with, since the price is the same between the two ($50).
  • #27,076
  • Dec 7, 2023 10:52am Dec 7, 2023 10:52am
Quoting Boulder
{quote} I use Pro and thinkmarkets. since I don't need extra leverage, I dont see any issues with Thinkmarkets either . I only traded EurUsd and GbpUsd
Me too, so far. I'm also doing a MY Flash Funding (MYFF) challenge and they also use thinkmarket. Also no issues so far.
As already mentioned, both quite expensive in commission (7 per lot forex), like TFF.
Spreads are tight (usually 1 pip, sometimes zero in EURUSD, 3 pips in GBPUSD)
  • #27,077
  • Dec 7, 2023 11:07am Dec 7, 2023 11:07am
Quoting Capablanca
{quote} Me too, so far. I'm also doing a MY Flash Funding (MYFF) challenge and they also use thinkmarket. Also no issues so far. As already mentioned, both quite expensive in commission (7 per lot forex), like TFF. Spreads are tight (usually 1 pip, sometimes zero in EURUSD, 3 pips in GBPUSD)
any commish $7 or less is irrelevant when getting raw spreads......5%ers, by far, have the best spreads...
Attached Image (click to enlarge)
Click to Enlarge Name: 5%ers spread.PNG Size: 4 KB
  • #27,078
  • Dec 7, 2023 11:14am Dec 7, 2023 11:14am
Quoting pipmaster77
{quote} any commish $7 or less is irrelevant when getting raw spreads......5%ers, by far, have the best spreads...{image}
Right, we should not be lured. The complete analysis has to include:
- Spreads
- Commissions
- Execution (slippage)

There are ways to trick traders that don't consider all these 3 things
  • #27,079
  • Dec 7, 2023 11:23am Dec 7, 2023 11:23am
Quoting Capablanca
{quote} Right, we should not be lured. The complete analysis has to include: - Spreads - Commissions - Execution (slippage) There are ways to trick traders that don't consider all these 3 things
Those are the questions I'm trying to find answers for comparing these two brokers. I haven't used either one.
  • #27,080
  • Dec 7, 2023 12:00pm Dec 7, 2023 12:00pm
Well boys I have been lucky enough to have 4 winning days in a row with my 50K Apex PA.
That has brought me over the halfway mark to reaching my first withdraw threshold! Some days are better than others. Lots of little scalps hopefully they won't consider it HFT? Well it isn't I have seen those HFT bots entering and exiting in both directions multiple times per second that's what I consider HFT. Anyway: I renewed 7 of my remaining challenges so I guess I have been lured in hook line and sinker (another $262). Hoping to get one more out of the 7 to pass. Not going to let them suck too much of my time away and push them harder than I normally trade.
Cheers
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