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  • #29,401
  • Feb 6, 2024 7:38am Feb 6, 2024 7:38am
Quoting montygoldy
{quote} man i usually pass or fail a challenge within a week phase 1 and phase 2….the thing is i am clear in my mind i am a scalper so never try to hold for longer either way loss or profit and look for acute entries based on 1m 5min 15 min.. so that min drawdown and 1:1 is what i look for but i can tp before it but sl stays the same….people say you wont be profitable with that reward ratio not true my winrate is 80-85%.. thats why i am able to use higher lots .. example of todays trades made 4% without going all out like puttting the account on...
LAST PIECE TO ADD I MAKE LIVE CALLS OF EVERY TRADE IN CABLE THREAD.. dont want to clutter this thred with those
Extreme gut feeling trader
  • #29,402
  • Feb 6, 2024 7:39am Feb 6, 2024 7:39am
Quoting pipmaster77
{quote} 5%ers high stakes 100K should be $5.98. Yes, believe it or not, some of the instant funding score under 1, you actually are giving money away vs. trading your own account. For comparison, the old MFF 200K was $9.23, more than 9 times per $1 in a personal account. Why I have such a hard time grasping all of the hatred for the best firm in every category........value, conditions, reliability, payouts....
Alright, I think I got it, I had an error in my Excel formula. I'm sure there are still some mistakes here, but here's a start:
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  • #29,403
  • Feb 6, 2024 7:40am Feb 6, 2024 7:40am
Quoting montygoldy
{quote} as more n more firms popping up and competition increases it’ll happen eventually… i saw on formedfunding they have tradingview integration not sure if any other firm does that…
can you tell how many prop firms are there at present
and how many are legit
and how many will pay
and how many will stay
do you think that this prop firm era gonna stay till 2030??
or it is just pump & dump kind of a scheme
  • #29,404
  • Feb 6, 2024 7:41am Feb 6, 2024 7:41am
Quoting Capablanca
{quote} Ahh, that makes sense because it would be a radical different offer. It would be very nice for me because I never get to 8% monthly to keep me with low payouts. Nevertheless what I would like to be standard in all props is to request a payout and be able to go back trading immediately, like in 5ers, not having to wait for "withdraw processing" And, of course, ideally to receive the payout in the same day.
The being able to trade immediately is now my #1 criteria. Two reasons......one is the lost profit potential and two is the simple fact any firm delaying the reset DOES NOT HAVE YOUR BEST INTERSET. There is absolutely no reason for account not to be reset immediately, it is not a technology issue nor is it a risk review issue....they can still review your last profit period while allowing you to continue to trade.
  • #29,405
  • Feb 6, 2024 7:44am Feb 6, 2024 7:44am
Quoting genuine007
{quote} can you tell how many prop firms are there at present and how many are legit and how many will pay and how many will stay do you think that this prop firm era gonna stay till 2030?? or it is just pump & dump kind of a scheme
why u thinking so far buddy … plan for this year only and try to milk as much as possible…. Do your own research about the firms … here we all share our experiences for the firms we bought whats good whats bad… join the discord of each one and see hows the community there
Extreme gut feeling trader
  • #29,406
  • Feb 6, 2024 7:45am Feb 6, 2024 7:45am
Quoting AaronPriest
{quote} Alright, I think I got it, I had an error in my Excel formula. I'm sure there are still some mistakes here, but here's a start: {image}
I have never understood LEVERAGE in my life
as I also not focused to understand it
because I am not going to play with full margin, I am not going to put huge lots
so whatever the leverage is, it allow me to put nominal lot sizes with which I like to play with

Yes I know, that bigger the leverage, the lesser the amount you need a margin to open the same lot size in comparsion with smaller leverage where it requires bigger margin to open the same lot size.
I think that's enough to understand about Leverage. I never tried to understand more than this about leverage,
  • #29,407
  • Feb 6, 2024 7:48am Feb 6, 2024 7:48am
Quoting montygoldy
{quote} why u thinking so far buddy … plan for this year only and try to milk as much as possible…. Do your own research about the firms … here we all share our experiences for the firms we bought whats good whats bad… join the discord of each one and see hows the community there
Yeah all your experiences help. I keep listening to you all.
I am not thinking just for this year as I am short on budget.
Yes I have some kind of strategy ready to play with in prop accounts but I am on tight budget so I cannot go with multiple firms.
I can just go with 1 or 2 prop firms with account size say max to 50k or if got cheap then 100k at max.
So I will try to get funded with just 100k and try to build up from there.
I also cannot use all the profit withdrawals to buy another challenges.
So I wish that they can stay long so that I can use them in future when my financial condition gets alright
  • #29,408
  • Feb 6, 2024 7:57am Feb 6, 2024 7:57am
Quoting genuine007
{quote} I have never understood LEVERAGE in my life as I also not focused to understand it because I am not going to play with full margin, I am not going to put huge lots so whatever the leverage is, it allow me to put nominal lot sizes with which I like to play with Yes I know, that bigger the leverage, the lesser the amount you need a margin to open the same lot size in comparsion with smaller leverage where it requires bigger margin to open the same lot size. I think that's enough to understand about Leverage. I never tried to understand more...
I didn't include leverage for any particular reason other than to differentiate that one of two accounts at the same price range might have more "value" or buying power at another firm if it had more leverage. I also don't really care if a prop firm has 1:10 or 1:100 leverage most of the time, I never use it all.
  • #29,409
  • Feb 6, 2024 8:00am Feb 6, 2024 8:00am
Quoting genuine007
{quote} Yeah all your experiences help. I keep listening to you all. I am not thinking just for this year as I am short on budget. Yes I have some kind of strategy ready to play with in prop accounts but I am on tight budget so I cannot go with multiple firms. I can just go with 1 or 2 prop firms with account size say max to 50k or if got cheap then 100k at max. So I will try to get funded with just 100k and try to build up from there. I also cannot use all the profit withdrawals to buy another challenges. So I wish that they can stay long so that...
if its ur first time i suggest go join the competitions of multiple firms and you’ll gain the experience and if you perform well you’lll get a free account.. also join the discord of firms there are so many giveaways challenge account happens everyday by completing simple tasks
Extreme gut feeling trader
  • #29,410
  • Feb 6, 2024 8:03am Feb 6, 2024 8:03am
Quoting genuine007
I have never understood LEVERAGE in my life
Quoting genuine007
I also not focused to understand it
Quoting genuine007
I never tried to understand more than this about leverage
Quoting genuine007
I am short on budget.
Quoting genuine007
I will try to get funded with just 100k
Quoting genuine007
I also cannot use all the profit withdrawals

Translation: "I live in a dream world on another planet. I don’t understand any of the essential basic concepts and am not willing to learn them. I just see the prospect of lots of money dangled in front of me and I dream of wealth and success, so I don’t think about the process at all, only the outcome."

Good luck with that.
  • #29,411
  • Feb 6, 2024 8:05am Feb 6, 2024 8:05am
Quoting AaronPriest
{quote} Alright, I think I got it, I had an error in my Excel formula. I'm sure there are still some mistakes here, but here's a start: {image}
So I can confirm 5%ers, FTMO and E8 all look correct. I have not applied the others to my spreadsheet, as I stopped adding new firms on Aug 31, 2023. I'm sure everyone knows the significance of that date. I would assume if those 3 look correct, the formula is good.
  • #29,412
  • Feb 6, 2024 8:19am Feb 6, 2024 8:19am
Quoting pipmaster77
{quote} So I can confirm 5%ers, FTMO and E8 all look correct. I have not applied the others to my spreadsheet, as I stopped adding new firms on Aug 31, 2023. I'm sure everyone knows the significance of that date. I would assume if those 3 look correct, the formula is good.
I still see more value in BuoyTrade and The5ers Hypergrowth program long term than this formula would suggest, but certainly not until being funded with The5ers High Stakes first. Frankly, I can't recommend any others on this list anymore, especially since FTMO banned US citizens. I should add City Traders Imperium and Audacity, because even though they wouldn't rate as high in "value", they are more reputable with an established history.
  • #29,413
  • Feb 6, 2024 8:22am Feb 6, 2024 8:22am
My goal is not he or anyone else but the procces in it self how complicated and dangeros is in itself
  • #29,414
  • Feb 6, 2024 8:27am Feb 6, 2024 8:27am
Quoting Capablanca
It would be very nice for me because I never get to 8% monthly to keep me with low payouts.
-Honestly, the wording is horrible. I cannot understand how these firms can operate a potentially, multi-million dollar business while making decisions based on posts like this.

1. Receive money within 24-hours or less upon initiating a payout?
2. Withdraw money 24-hours/day, anytime, as often as you like?
3. Payouts will be processed around the clock, 24-hours/day, as opposed to some 9 to 5 time block?
4. You can only withdraw up to 8% of the total account balance each month, for any given account?
5. You can only withdraw 8% of your total profits each month (doesn't really make sense)?
6. Any profit left on the account beyond 8% would be forfeited, but you would keep 100% of the 8% (so in essence, a profit cap)?
7. Will traders still have access to trade after the 8% mark and potentially blow their account?
8. Or will any profit in excess of 8% roll-over into the next month?
9. Etc..

So all of the feedback that they get from this post could potentially lead them to restructure their entire business model, of which the outcome would be anyone's best guess.
  • #29,415
  • Feb 6, 2024 8:29am Feb 6, 2024 8:29am
Alpha new offering
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Extreme gut feeling trader
  • #29,416
  • Feb 6, 2024 8:52am Feb 6, 2024 8:52am
Quoting KarlKraus
Translation: "I live in a dream world on another planet. I don’t understand any of the essential basic concepts and am not willing to learn them. I just see the prospect of lots of money dangled in front of me and I dream of wealth and success, so I don’t think about the process at all, only the outcome." Good luck with that.
-Not everyone is the same; we all have our differences and our own lessons to learn.

I do not know why you feel the need to always put others down, but we would all benefit to be more respectful and kind to each other.
  • #29,417
  • Feb 6, 2024 8:57am Feb 6, 2024 8:57am
Quoting Nsak3y
{quote}-Honestly, the wording is horrible. I cannot understand how these firms can operate a potentially, multi-million dollar business while making decisions based on posts like this. 1. Receive money within 24-hours or less upon initiating a payout? 2. Withdraw money 24-hours/day, anytime, as often as you like? 3. Payouts will be processed around the clock, 24-hours/day, as opposed to some 9 to 5 time block? 4. You can only withdraw up to 8% of the total account balance each month, for any given account? 5. You can only withdraw 8% of your total...
for smaller firms like e8.... I kind of agree with a profit cap, it would make them more sustainable and should limit denied payments. Only problem... does that chase away the degenerate gambler get rich yesterday types that blow challenge after challenge & how will that affect their bottom line.
  • #29,418
  • Feb 6, 2024 9:11am Feb 6, 2024 9:11am
Quoting montygoldy
Alpha new offering {image}
Don't laugh at me but the micro lots was one cause of annoyance when I started in Alpha because I like to test the accounts with a 0.01 trade to test and in Alpha that was not going through because the minimum was 0.1.
I even contacted support saying that the account was not activated.
  • #29,419
  • Feb 6, 2024 9:12am Feb 6, 2024 9:12am
Quoting CableJ
{quote} for smaller firms like e8.... I kind of agree with a profit cap, it would make them more sustainable and should limit denied payments. Only problem... does that chase away the degenerate gambler get rich yesterday types that blow challenge after challenge & how will that affect their bottom line.
It would actually be also good for them as they would get paid instead of being denied payment because of gambling. However, making 8-10% profit per month still requires gambling to some extent.
  • #29,420
  • Feb 6, 2024 9:15am Feb 6, 2024 9:15am
Quoting CableJ
{quote} for smaller firms like e8.... I kind of agree with a profit cap, it would make them more sustainable and should limit denied payments. Only problem... does that chase away the degenerate gambler get rich yesterday types that blow challenge after challenge & how will that affect their bottom line.
Even though it could attract gamblers that go there once a month to do the 8% or bust and not trade any longer until next month.
Of making 24% in one trade and just go there once a month, during 3 months, to collect the 8%

But, yes, overall I agree with you that a cap would discourage gamblers (and for me 8% would not be a problem).
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