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  • #29,121
  • Feb 3, 2024 2:56am Feb 3, 2024 2:56am
Quoting navk
{quote} During chf intervention.... one broker from UK went bankrupt.
Lol, Alpari Uk
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #29,122
  • Feb 3, 2024 3:19am Feb 3, 2024 3:19am
I'll never use The Funded Flinstones again but couldn't resist voting.

I've never seen or used Ctrader but apparently, traders love it. I voted for DxTrades after watching a nice tutorial.
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Pride always comes before destruction.... -Proverbs 16:18
  • #29,123
  • Feb 3, 2024 3:22am Feb 3, 2024 3:22am
Quoting Expo33
I'll never use The Funded Flinstones again but couldn't resist voting. I've never seen or used Ctrader but apparently, traders love it. I voted for DxTrades after watching a nice tutorial. {image}
Traders love ctrader because if you are b-booked you get no slippage. Its an arcade game. I dont know about DX, it reminds me of a crypto trading platform. But I too voted for dx.
  • #29,124
  • Feb 3, 2024 3:23am Feb 3, 2024 3:23am
Quoting navk
The prop firm Industry is getting hit one by one. I never thought TFF will be damaged. Long ago, I had funded account, and then violated. ( After blowing challenge accounts ) I did not buy new challenge with them since paying thro credit card was difficult. There was possibility to buy challenege thro crypto payment, but luckily I did not buy. Frankly speaking, we need to switch our accounts to real money broker. I have account with tradersway Gomarkets And in the process of opening account with Ducascopy
I had an account with Gomarkets over 8 years ago even at that time the we doing Binary options before moving to Fx, my acct still active .

I also had an account with Dukascopy over 10 years ago and my account is still active too.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #29,125
  • Feb 3, 2024 5:13am Feb 3, 2024 5:13am
Okay guys I am seriously looking for a free challenge account. I tried TFT competition but I realized you cannot open more than one order in same direction. Example the highest lot size for GU is 5 lots. If you split this into smaller lots to buy GU at different price level, the system wouldn't accept it. You either close your previous buy in profit or loss before entry new buy lol. Their price system was also ridiculous and no prove if those 94% winners are real or rigging. I heard most competition traders use multiple accounts from different devices and open buy and sell orders simultaneously to manipulate competition and beat other traders.

I missed Alpha capital 5k free challenge account when the offer was on. Please keep me informed when opportunity exists

My trial accounts always successful and I need to start a real challenge ASAP
https://trader.ftmo.com/metrix/1040315039
  • #29,126
  • Feb 3, 2024 5:56am Feb 3, 2024 5:56am
Quoting Expo33
I'll never use The Funded Flinstones again but couldn't resist voting. I've never seen or used Ctrader but apparently, traders love it.
-Ctrader isn't available to US traders. Soon, Meta won't be, either. And DXtrade literally has an office in the US. Go Team Flintstones...
  • #29,127
  • Feb 3, 2024 5:57am Feb 3, 2024 5:57am
Quoting Expo33
Just watched some good tutorials on DxTrade. I like the platform. I found it to be intuitive and user-friendly.
-The problem is, they are well-within the reach of mafia-regulators, and would likely fold quickly. If a decentralized solution is not yet possible, then perhaps a platform provider that can establish themselves outside of the reach of these over-reaching bullies. Probably, any replacement for Meta will only be a temporary thought unless it can be well-positioned to sidestep all of the nonsense.
  • #29,128
  • Edited 12:06pm Feb 3, 2024 6:16am | Edited 12:06pm
Quoting montygoldy
{quote} fundednext is a bit on expensive side… like my planning is different i am going for average firms with cheapest challenges as it gives me more room to practise those challenges and gain experience and fix the mistakes i make… i am no prop firm champion but with more challenges i am fixing the mistakes in past … this is the statistics of 2023 last quarter when i started my prop firm journey i did 15 challenges and able to get 2 funded (eventually lost them without payout) and 6 reached phase 2…. this year i took 9 challenges so far got 4...
I heard from one of my friend that fundednext reduces leverage once you pass challenge.

So be careful with them.
Intraday only.
  • #29,129
  • Feb 3, 2024 7:07am Feb 3, 2024 7:07am
Quoting navk
{quote} I heard from one of my friend that fundednext reduces leverage one you pass challenge. So be careful with them.
I have read the same thing on this thread..
  • #29,130
  • Feb 3, 2024 7:29am Feb 3, 2024 7:29am
Quoting navk
{quote} I heard from one of my friend that fundednext reduces leverage one you pass challenge. So be careful with them.
They also only allow one device with a single IP address, preferably static. If your IP address changes you need to inform your account manager before you trade, who never answers. If you change cities or states or especially countries then you need to send them proof of travel like documents, receipts, etc. I understand countries, but support said no VPS, dedicated servers, etc. in a different city than your KYC documentation, so I crossed them off my list. They've been changing things on their website the past week though, and the article about VPN/VPS no longer exists that explained all this.
  • #29,131
  • Edited 8:35am Feb 3, 2024 8:12am | Edited 8:35am
Quoting Expo33
I'll never use The Funded Flinstones again but couldn't resist voting. I've never seen or used Ctrader but apparently, traders love it. I voted for DxTrades after watching a nice tutorial. {image}
Ctrader is a pretty good platform but as Nsak3y mentioned... it's DOA for US traders.
  • #29,132
  • Feb 3, 2024 9:05am Feb 3, 2024 9:05am
Quoting Advice777
If I have 3k or 5k personal capital to start trading today, I will never waste my time with prop firm. I will simply live up with this with reasonable withdrawal monthly. I know better now how to trade. Forex trading education is full of many lies, distortions and half truth. That the market is random is also another lie. The price chart was configured into time frames in order to have you confused and keep losing money. It was deliberately done so by the inventors. Many of you have reasonable personal trading capital of 10k and above but yet keep...
Hello Advice777;

I trust you are well.

If I may respectfully state, without any ambiguity, most, if not all of your comments in your post resonates deeply with numerous fully discretionary traders who have crossed the Final Trader metamorphosis from Conscious Competence, where one needs external validation and heaps of praise to Unconscious Competence where the individual quietly gets along with their trading whilst taking in developments on the periphery which require shock absorption & agility.

All the same, whilst your comments are well noted, might I venture with utmost respect that to unilaterally state that anyone who has in excess of $10k still buying challenge accounts is automatically deduced to greed?

After all, each individual is just that, an individual and what may be an acceptable income to you & I may be change to another individual based on their living standard, country, cost of living, their family obligations and a whole list of other variables too many to list.

Perhaps you could consider the possibility that being a diligently minded risk manager above trading renders it incumbent upon us to diversify ourselves across whichever spectrum on income streams, be it personal trading accounts (personally my preference as well), retail props, crypto (amazing blow off opportunities present here if well timed) and any other platform which allows to put away something, however little it may be in the present as part of one's broad & long term Vision as to where they're headed financially.

The retail prop space is a no brainer and shouldn't be snubbed but each to his own.

If you consider, whilst you're trading your personal account it costs you a comparatively "small" capital outlay to set aside an amount you don't mind losing if the company concerned gets shut down or pulls an exit scam & allow the prop account to copy your account trades.

In so doing you'll create a passive income stream which you would not ordinarily have.

The single suggestion I wish to venture is when trading the prop perhaps consider measuring your risk of ruin against the drawdown, not the fictious equity depicted.

With no time constraints now for completing evaluations you can complete the evaluations as slowly as you wish risking 1% or maximum 2% of the Drawdown value. In so doing, you're basically accessing $10k drawdown for around $500, with discount codes as low as $400 or even lower sometimes.

Ignoring that viable income stream is something one would do at their own peril. If you get to the refund stage before the company crashes, you did well & if not, there's no real major loss. I mean really, it's around $400. A decent trading day on your personal account, provided you know when to pull the trigger at a range expansion sling-shot pull-back and/or blow off tops on either the D1 or better W1 strike/kill zones, after order flow has been cleared & there's exponential trapped volume above/below the zone in question, your RRR on that single entry, will recoup that loss in just one day/trading session.

I trust you receive the information & suggestions I offered in the good faith it is intended.

May I be granted this opportunity to wish you & all on the thread a fantastic afternoon & May The Markets Go With You.

Sincerely,
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,133
  • Feb 3, 2024 9:11am Feb 3, 2024 9:11am
Quoting Expo33
I'll never use The Funded Flinstones again but couldn't resist voting. I've never seen or used Ctrader but apparently, traders love it. I voted for DxTrades after watching a nice tutorial. {image}
I'm not sure if most realize this....but cTrader isn't going to do a damn thng for those of us in the USA. They pulled out of US in 2014-2015.
  • #29,134
  • Feb 3, 2024 9:25am Feb 3, 2024 9:25am
Quoting navk
{quote} I heard from one of my friend that fundednext reduces leverage one you pass challenge. So be careful with them.
Hello Navk;

I trust you are well.

A little while ago upon looking over Funded Next, I took note of a somewhat, what I consider a peculiar, yet important condition they had for exclusion and unsure if it is still the case. Upon reading that I logged off their website & didn't bother with them since.

That is, over & above their "normal" rules, they have one which stated/not sure as advised, if presently applicable, that trading the same instrument a certain number of times results in violation. To clarify what they were saying as I understood it,

If a trader goes long Cable at 1.27 & they stopped out at 1.26 & they know they were part of a order flush out and want to get in instantly again they cannot or risk violating the account as hard breach. That to me, was one of, if not the most bizarre rules I saw in these companies & mind you, I have seen some which are true gems, so far as being detached from real trading conditions.

Many of these companies seem to have chat operatives who don't or never even traded. I asked the one chap on their chat about a basic multiple trade opener Script so I can split my order entry into partials as opposed to a single entry.

He replied they don't allow 3rd party EAs....??? Needless to say, I didn't bother engaging further with the gentleman in question.

Wishing you a pleasant day ahead.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,135
  • Edited 5:37pm Feb 3, 2024 9:38am | Edited 5:37pm
Quoting Desbinary
{quote} Hello Navk; I trust you are well. A little while ago upon looking over Funded Next, I took note of a somewhat, what I consider a peculiar, yet important condition they had for exclusion and unsure if it is still the case. Upon reading that I logged off their website & didn't bother with them since. That is, over & above their "normal" rules, they have one which stated/not sure as advised, if presently applicable, that trading the same instrument a certain number of times results in violation. To clarify what they were saying as I understood...
My friend told me that once he got funded account, the leverage was reduced to some 1 : 5 or something.... very less.

And he had to trade hard to earn money which he paid as fee.

So, for me, not exciting at all... Funded next.

And moreover, the prop Industry as a whole is going thro rough space.

My payout around 6k is stopped with MFF and 200k funded account could not be used.

Now, TFF.

Next in line ?

No one knows.

And on top of this, restrictions in trading conditions, payout share doubts...
Intraday only.
  • #29,136
  • Feb 3, 2024 9:55am Feb 3, 2024 9:55am
Quoting navk
{quote} My friend tod me that once he got funded account, the leverage was reduced to some 1 : 5 or something.... very less. And he had to trade hard to earn money which he paid as fee. So, for me, not exciting at all... Funded next. And moreover, the prop Industry as a whole is going thro rough space. My payout around 6k is stopped with MFF and 200k funded account could not be used. Now, TFF. Next in line ? No one knows. And on top of this, restrictions in trading conditions, payout share doubts...
Thanks for your added feedback Navk. I also wouldn't bother with Funded Next even though that leverage doesn't concern me.

My position sizing is minute compared to the advertised trading account size, since my risk is calculated against permissable drawdown. All the same, my view is that there are many other companies with much better, robust value propositons available.

So far as the sentiment being negative, sure, I hear you but may I put it to you that as traders, one could venture the argument that now is one of the great times to BUY.

There's a succient collaquial maxim which you're likely acutely aware of, which goes: "Buy 'em when They Hate 'em & Sell 'em when They Love 'em"

It works in almost every sphere of trading in it's entirety. If you look at it through positive veneer, you can now secure around 8-10 $100k(10K drawdown) accounts for just about 50% of it's normal price.

Demand is exceptionally low & the ultimate time to buy. If you strike out, you lost some capital, it's part of trading as a whole. If the challenges smooth out & the prices return to mean values, you would have procured at the ultimate time & can manage your $100k drawdown at the lowest possible risk, 0.5% even copying the personal account you detailed.

I will leave the mathematical extrapolations to you to quantify since you're clearly more than equal to that given the Excel sheet you included a few posts previous.

BTW - Congratulations to how you're compounding that account progressively yet consistently.

Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,137
  • Feb 3, 2024 10:25am Feb 3, 2024 10:25am
Quoting Advice777
Okay guys I am seriously looking for a free challenge account. I tried TFT competition but I realized you cannot open more than one order in same direction. Example the highest lot size for GU is 5 lots. If you split this into smaller lots to buy GU at different price level, the system wouldn't accept it. You either close your previous buy in profit or loss before entry new buy lol. Their price system was also ridiculous and no prove if those 94% winners are real or rigging. I heard most competition traders use multiple accounts from different devices...
Hello again Advice777,

I am unsure whether you took note of User, Capablanca's post a short while ago referring to FXIFY?

They have some interesting developments which are on the cards. Far be it for me to speculate whether or not any of those aspirations will see the light of day but if they do, they'll surely disrupt the retail prop space and move the needle in a comprehensive manner.

Two/make that three of their unique differences in no particular order of importance which may help where you seem to be coming from as I understand your posts.

1. You wish to load multiple orders at different price points. The example you quoted on cable seems to suggest you desire to average down as the original progresses into drawdown. Their environment allows both Grid & Martingale so you wouldn't hard breach trading that strategy.

2. They are allegedly soon to introduce copy trading, on funded account similar to how some retail brokers have Strategy provider copy trading. I had to read this twice since it has become somewhat an industry norm in this space that copy trading results in accounts being banned. Their platform will allow new & existing market participants to buy an evaluation & link the account to a strategy provider account which is already on the system after perusing the trader in questions analytics. They have no timeframe for when this goes live but even if you have the smallest possible account with them with a solid track record & favourable track record you would gain exposure to the individuals purchasing larger accounts who wish to link to you. Sort of a hybrid between Darwinex & retail Strategy providers as I understand with much less cumulative data required.

3. They're advertising a VISA pre-paid card where profits will be paid into, which will surely break the mold & limitations currently experienced in this space if it launches. To some, this might be the ultimate swing-vote in their minds. To me, it's interesting but not the panacea it may be to others since I am fine with receiving payments into Binance, Bank Wire or whichever else. I was able to off-ramp crypto to FIAT via Local Bitcoins, then Agoradesk after LocalBitcoins fell away.
You may be aware, now that Transak joined the party with allowing direct & seamless One-Click Crypto to FIAT to VISA/Mastercard, they've officially set the cat amongst the pigeons. When the news broke on Tuesday I signed up with Transak & tested the off-ramp. Suffice to say, it's nothing short of mind-blowing with how seamless it's execution is.

Trusting the information may help to shed some light had you missed User Capablanca's intial post related thereto.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,138
  • Feb 3, 2024 10:26am Feb 3, 2024 10:26am
Quoting Desbinary
{quote} Hello Advice777; I trust you are well. If I may respectfully state, without any ambiguity, most, if not all of your comments in your post resonates deeply with numerous fully discretionary traders who have crossed the Final Trader metamorphosis from Conscious Competence, where one needs external validation and heaps of praise to Unconscious Competence where the individual quietly gets along with their trading whilst taking in developments on the periphery which require shock absorption & agility. All the same, whilst your comments are well...
This is the way I see prop firm trading below
A 100k in essence is actually a 5k daily capital limit. I hear some folks talk about risking 1% daily on prop firms. What this means is that you are only risking $50 to trade and to me it doesn't make any sense and it will take forever to hit challenge target 1 and 2. The human mind is not designed to work this way for those telling themselves lies. Most would rather end up trading multiple positions, pairs etc. hoping to hit a home run. My new discovery of the market has really exposed the lies I was told decades ago that market is not predictable and that it is totally random. Lies lies lies. Market is designed to clear stops, break support and resistance and then start going to the initial direction. This is the manipulation and confusion going on. A sell today can be shifted to happen in a later date. This is why you see people haven't got margin call only to see market going their anticipated direction. 95% of traders will never know this open truth glaring on the chart. This method even foretell EVENT like SNB and BREXIT, BLACKSWAN event months and years before it happened.
One beauty I noticed about this open secret looking us all is that it is the same thing across every currency, indices etc because it is the same mechanism. So you don't need more than 1 or 2 pair to be successful. Having multiple pairs can be very stressful and can knock out the brain. I saw many times where a single signal lasted 3 years and still going. Only skillful traders with knowledge of stacking and decent personal capital can follow such trades to the latter. They are called position traders.
The sharks can always manipulate market by 200 pips and more but the flow can never be changed.
Now if I am to trade a $100k prop firm challenge, my risk will be $500 and wait for this method to enter short term trade. This is the advantage of prop firm. The daily drawdown limit of $5000 is the true capital.
https://trader.ftmo.com/metrix/1040315039
  • #29,139
  • Feb 3, 2024 10:54am Feb 3, 2024 10:54am
Quoting Advice777
{quote} This is the way I see prop firm trading below A 100k in essence is actually a 5k daily capital limit. I hear some folks talk about risking 1% daily on prop firms. What this means is that you are only risking $50 to trade and to me it doesn't make any sense and it will take forever to hit challenge target 1 and 2. The human mind is not designed to work this way for those telling themselves lies. Most would rather end up trading multiple positions, pairs etc. hoping to hit a home run. My new discovery of the market has really exposed the lies...
Thanks for your feedback Advice777;

The merits of the points you're articulating is indeed understood and would hold true in most scenarios. I agree with your statement of the $5 000 account size but I count it as the $10 000 total permissible drawdown.

This is since my position sizing will not result in me hitting the $5 000 drawdown. I trade maximum 2.5% risk against the $10k value & don't or rather, hardly trade these accounts, intra-day. To me, when I purchase the evaluation, which I only bothered with after the time limits were removed, it is to diversify income streams. I have maximum 2 non-correlated pairs on a single account with only 1 position per instrument so any form of stop-hunt wiping out the daily drawdown is all but a division by zero, notwithstanding off course, a black swan event.

I don't fear a black-swan event since if an account is available to load orders onto, as soon as one gets a decent fill, most; of not all losses from the initial crash will be recuperated quickly. I lost a fair amount in the January 2019 Flash Crash but recuperated my gains before the quarter was up that year & learnt that there's great positives that can be leveraged if one retains the requisite mental soundness through the black swan event as opposed to being fixated on the present moment "loss"

I only ever trade the W1 & MN range expansions where there's either a hard kick-off in the opposite direction or those where the flush you're referring to is imminent or has happening. I favour the pairs with positive overnight carry so if it keeps remaining irritational or repainting into eternity, the positive overnight carry still offers some value.

Case in point, I am long on some of the Swissy pairs, GBP-CHF since far below the current zone & actually just scaled in after the deep pull-back we had after the last few days. I also recently got into CAD-CHF on one of the other accounts since I won't hold two Swissy orders on the same account. The evaluations take an eternity to pass as you rightly advised but I don't bother with that since I am in no hurry to pass them & the "funded" account will be traded in the same manner.

Basically, if any of these companies survive for a long time & the funded accounts survive I and anyone else who bothers to trade the accounts in that manner will literally earn income with zero effort, other than pulling the trigger on the order at the far extremity expansions & just let the market do what it does.

If you look at my post on Trustpilot which I posted a few days ago, you'll see I detailed the same thing I said to you here so it's not a cherry-picked comment to behave as though to say I am doing what you alleged is The Human Mind not wired to work this way.

Off course, you're correct our Minds are not geared to work this way but is it not our duty to recalibrate it to work in whichever way is necessary to draw profits out of the market in whichever means resonate with the trader concerned. Our minds, after all, are not rigid but flux, susceptible to step changes and hacks as we deem suitable to our individual position.

My comment on Trustpilot is about Alpha Capital Group & I told the chap I normally don't bother posting on Trustpilot etc since I didn't post about any of the other accounts I have, such as The Funded Trader, Funding Traders, Ultra Capital etc.

My decision to post an interim factual comment for them was solely based on the gentleman's exceptionally pleasant demeanor which I included as an open Caveat at the beginning of my post/compliment of them.
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,140
  • Feb 3, 2024 10:59am Feb 3, 2024 10:59am
True Forex Funds were on CFTC Red list for a long time.


Companies that have everything in house and their own licenses are probably at more risk that companies that use 3rd party regulated brokers. MFF did it in house, TFF did it in house, FTMO does it in house
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Drawdown is more important than Account Size !
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