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  • #38,621
  • Jul 2, 2024 5:37pm Jul 2, 2024 5:37pm
Quoting anthon25
{quote} Step 1 Profit Target Reached, hooray! Step 2 on Next phase for 5% target {image} {image}
My 2nd Phase has reached target and KYC is required.

attached below is agreement between Funded Next and me.

hope this information will be usefull for you to read when you have passed the challange.

#nevergiveup
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File Type: pdf [email protected]   175 KB | 1,091 downloads
I am completely a lazy Trader & Pennies Rebate Hunter
  • #38,622
  • Jul 3, 2024 12:33am Jul 3, 2024 12:33am
MFFx introducing a consistency rule in CFDs like futures
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  • #38,623
  • Jul 3, 2024 12:39am Jul 3, 2024 12:39am
With so many changes going on, these guys created a section to help people to track them. I think it's useful:
https://www.propfirmmatch.com/prop-firm-rule-changes
  • #38,624
  • Jul 3, 2024 2:18am Jul 3, 2024 2:18am
Quoting Capablanca
MFFx introducing a consistency rule in CFDs like futures {image}
I like the rule, FTMO should implement it
  • #38,625
  • Jul 3, 2024 3:40am Jul 3, 2024 3:40am
Quoting solarpower
{quote} I like the rule, FTMO should implement it
a rule like this would make prop firms no longer a viable option for a lot of traders, (which i suppose is what the firm wants anyway), i can't speak for any of you, but i trade on a ~15% winrate, and rely on catching and aggressively scaling into one huge move once a month or so, a rule like this would mean i either quit prop firm trading entirely, or start from scratch and develop a completely new system that would fit this rule
  • #38,626
  • Jul 3, 2024 3:55am Jul 3, 2024 3:55am
Quoting billGU
{quote} a rule like this would make prop firms no longer a viable option for a lot of traders, (which i suppose is what the firm wants anyway), i can't speak for any of you, but i trade on a ~15% winrate, and rely on catching and aggressively scaling into one huge move once a month or so, a rule like this would mean i either quit prop firm trading entirely, or start from scratch and develop a completely new system that would fit this rule
The way I see you can game the system is to close a winning running trade during quiet times, wait a bit and then reopen it and maybe disguise it turning, for example, 8 lots into 5+3 lots to make the detection more difficult. Of course you would lose in spreads, slippage and commission, so it's only viable for long and very profitable trades. And it's a stupid situation, obviously.
  • #38,627
  • Jul 3, 2024 3:59am Jul 3, 2024 3:59am
Quoting solarpower
{quote} I like the rule, FTMO should implement it
Anyone liking this rule can already abbey by it voluntarily.

The rule should only be implemented if would guarantee payouts without dramas, which I doubt. Otherwise it's just a restriction for some traders, including legit ones like swing traders.
  • #38,628
  • Jul 3, 2024 4:30am Jul 3, 2024 4:30am
Quoting Capablanca
{quote} Anyone liking this rule can already abbey by it voluntarily. The rule should only be implemented if would guarantee payouts without dramas, which I doubt. Otherwise it's just a restriction for some traders, including legit ones like swing traders.
I agree. You open Twitter and there is always some drama. Payout dramas repels more than some extra rule.
Something needs to be done, but no one has market power, no need to fear. Props are learning by experience now.
  • #38,629
  • Jul 3, 2024 4:44am Jul 3, 2024 4:44am
Quoting solarpower
{quote} I agree. You open Twitter and there is always some drama. Payout dramas repels more than some extra rule. Something needs to be done, but no one has market power, no need to fear. Props are learning by experience now.
I have no doubt that a rule like this will decrease, if not almost eliminate, the big payouts so, theoretically, it should be a good thing.
I doubt, however, if this is going to make the model sustainable or reduce dramas (prop owners will go on being crooks no matter the rules).

In the meantime the rule will affect non gamblers traders as well. Check this sequence of gains on a 200K account per day:

+2K
-1K
+1K
+3K
+1K
-2K
Total: 4K

Does this seems like a gambler ? I don't think so. However he can't withdraw the 4K because of that 3K day. So he will be forced to get another +2K.
  • #38,630
  • Jul 3, 2024 4:56am Jul 3, 2024 4:56am
Quoting Capablanca
{quote} I have no doubt that a rule like this will decrease, if not almost eliminate, the big payouts so, theoretically, it should be a good thing. I doubt, however, if this is going to make the model sustainable or reduce dramas (prop owners will go on being crooks no matter the rules). In the meantime the rule will affect non gamblers traders as well. Check this sequence of gains on a 200K account per day: +2K -1K +1K +3K +1K -2K Total: 4K Does this seems like a gambler ? I don't think so. However he can't withdraw the 4K because of that 3K day....
You are right.

Perhaps absolute values should be taken then.
Perhaps should be applied for the first three payouts because markets is kind of fat tailed.
  • #38,631
  • Jul 3, 2024 4:58am Jul 3, 2024 4:58am
Quoting CableJ
{quote} Another big difference... unlike CFD props, there is pretty much no feed manipulation from the prop side.
There is no feed manipulation, but I am not sure about all these disconnects. Maybe scalpers are not welcomed anymore in Apex.
  • #38,632
  • Jul 3, 2024 7:13am Jul 3, 2024 7:13am
Quoting fx_rookie
{quote} There is no feed manipulation, but I am not sure about all these disconnects. Maybe scalpers are not welcomed anymore in Apex.
He's referring to CFD feed manipulation not Futures.
Trade with confidence, trade without fear.
  • #38,633
  • Jul 3, 2024 8:38am Jul 3, 2024 8:38am
Quoting Capablanca
{quote} I have no doubt that a rule like this will decrease, if not almost eliminate, the big payouts so, theoretically, it should be a good thing. I doubt, however, if this is going to make the model sustainable or reduce dramas (prop owners will go on being crooks no matter the rules). In the meantime the rule will affect non gamblers traders as well. Check this sequence of gains on a 200K account per day: +2K -1K +1K +3K +1K -2K Total: 4K Does this seems like a gambler ? I don't think so. However he can't withdraw the 4K because of that 3K day....
The rule says single trading day not single trade so you can easily hedge the winning trade and partailly close it over multiple days. Example, if you went long 10 lots on gold, once price reaches TP, enter 10 lots short and lock in those profits and then close 3 lots either side on different days. Not ideal, but it does the work.
  • #38,634
  • Jul 3, 2024 8:43am Jul 3, 2024 8:43am
I have been reading some of the comments about DarwinZero on this thread, it seems their business model is sustainable enough to give this some serious thought. How do they compare to other prop firms, such as MFF? Which may be my second choice depending on the response/s?

Also is there any nuanced features to watch out for with Darwin0 e.g. MFFs spreads on Sunday open or their simulated slippage which can go for or against you depending if you are exiting on a TP or SL!!
miFlipUnit
  • #38,635
  • Jul 3, 2024 9:05am Jul 3, 2024 9:05am
Quoting Inception12
{quote} The rule says single trading day not single trade so you can easily hedge the winning trade and partailly close it over multiple days. Example, if you went long 10 lots on gold, once price reaches TP, enter 10 lots short and lock in those profits and then close 3 lots either side on different days. Not ideal, but it does the work.
Do you think they are fool? They will change to equity based instead of balance. It is just matter of time. Trying to scam scammers
  • #38,636
  • Jul 3, 2024 9:28am Jul 3, 2024 9:28am
OK, I am already pretty sure. More than 15 min after the news and a lot of time without disconnection I opened 2 lot ES long with 10 ticks target and 25 stop on 6 accounts. In less than a minute first I got a refusal to move my stop and after that connection lost. It reconnected just to drop again.
  • #38,637
  • Jul 3, 2024 9:46am Jul 3, 2024 9:46am
Blue Guardian
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  • #38,638
  • Jul 3, 2024 10:20am Jul 3, 2024 10:20am
Quoting Capablanca
Blue Guardian {image}
the5er’s were the first to introduce this 3 day of minimum 0.5% rule ?
  • #38,639
  • Jul 3, 2024 10:33am Jul 3, 2024 10:33am
Quoting CableJ
{quote} Mostly the same shit w/ more lucrative model. I do think the futures props that actually force traders live to partner brokers with exchange fees are different @ that stage. Another big difference... unlike CFD props, there is pretty much no feed manipulation from the prop side.
What do you mean by feed manipulation?
  • #38,640
  • Jul 3, 2024 10:39am Jul 3, 2024 10:39am
Quoting miFlipUnit
I have been reading some of the comments about DarwinZero on this thread, it seems their business model is sustainable enough to give this some serious thought. How do they compare to other prop firms, such as MFF?
Watch this:

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