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  • #1,541
  • Jun 15, 2021 4:46pm Jun 15, 2021 4:46pm
I prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.
  • #1,542
  • Jun 15, 2021 5:06pm Jun 15, 2021 5:06pm
Quoting Takisd
I prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.
lol. Yes I guess it does lend some entertainment value to the thread. Great point.
  • #1,543
  • Jun 15, 2021 5:19pm Jun 15, 2021 5:19pm
Quoting pipmaster77
100 lots with a 10 pip stop is the same as 10 lots with a 100 pip stop is the same as 1 lot with a 1000pip stop, etc, etc. The risk isn't determined by lot size alone. One of my systems is weekly pivots, entering multiple small positions within a "zone". Another one is pure price momentum during London and New York, much larger size, real tight stop, in and out. I put the same risk on both systems.
Quoting profitfarmer
partially correct math. however, a Stop Out tends to have a negative slippage, that is the reality, for simply being hit while the price is moving against the trade...
Quote
the real life, especially if trading a minor cross, for example GJ, GA, EN, etc, a 1 pip slippage on a somewhat volatile move totally common.... arguable not that much an issue on 1 lot with 1000 pips SL, having an actual -1001 pip finish, and a somewhat more serious issue with 100 lot ending not -10, but -11 pips SL. of course, not in demo trading stage/s. but on an actual larger live acct this is how it works out as I described above. so 10$ worth vs 1000$ that 1 pip represents makes a rather serious difference, although the intended SL value
Quote
was exactly the same in your scenarios.
Yes, also commissions are also much bigger the higher the volume, and the is execution slower whilst the action is faster. Big disadvantage really, specially for quick/brief scalpers.

Quote
bcos the way MT4 is working (not sure the others), a SL will sit as a pending order, converted to a market order when the price hits the level, then executed as a market order. it is a few ms delay, only it does very rarely work for the trader's favor.
Precisely this, is one of the biggest disadvantages of trading "spot" FX (CFDs for retailers) VS Futures (like the mini contracts); in FX, every order is a market order with volume-weighted average price, while in Futures LIMIT orders actually exist.
  • #1,544
  • Jun 15, 2021 7:05pm Jun 15, 2021 7:05pm
Quoting ladder
{quote} Lux has implemented the trailing drawdown rule for all stages. Crazy! What is the chance of getting to the 'Expert' stage? One out of ten thousands? Even if you get the 'Expert' account, how long can it last before the '4% relative' drawdown rule is broken? Are they really looking for good traders? {image}
Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels.

Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would.

Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo.

Anyway, keeping my fingers crossed...
Amor Fati--F. Nietzsche
  • #1,545
  • Jun 15, 2021 7:09pm Jun 15, 2021 7:09pm
Quoting doji
{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...
What I really don't like here is changing the rules AFTER you've signed up. That is not what you signed up for. If they wish to change the rule on new traders, fine, but they should absolutely honor the rules existing customers signed up for.
  • #1,546
  • Jun 15, 2021 7:49pm Jun 15, 2021 7:49pm
Quoting doji
{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...
we should not be overly concern of the adjusted DD. This is to help the trader to be more tactful and help them to manage their account.
  • #1,547
  • Jun 15, 2021 10:22pm Jun 15, 2021 10:22pm
Quoting pipmaster77
{quote} Yes, but we all know there are 3-4 on that list that are established, pay out and aren't going anywhere. I think if we designated those brokers, it may save a lot of people from getting burned by the others. The fact that one just disappeared overnight (which most of us knew that one would) got me thinking of ways to prevent people from getting burned.
Perhaps each trader or those willing to participate could post their Top 3 Prop Firms.

Providing that a brief but concise reason for their choice(s) is/are shown.

I don't have any problem with this approach.

Post 1 will remain unbiased.

Masterrmind ........
Master your Mind then Master your Trades
  • #1,548
  • Jun 16, 2021 1:18am Jun 16, 2021 1:18am
Quoting Takisd
I prefer the idea of burning witches at the stake when someone posts their geocities prop firm website here in this thread. Its much more fun and entertaining than a formal list of approved firms.
https://ecocapitalfx.com

Burn me NOW!!!
  • #1,549
  • Jun 16, 2021 1:23am Jun 16, 2021 1:23am
FTMO
MyForexFunds
Funding Talent
5%ers
Enfoid
TopstepFX/Topsteptrader
Audacity
Darwina
Axiselect


All currently credible with moderately sufficient track records.
Do your own diligence to learn their different terms and conditions.
  • #1,550
  • Jun 16, 2021 1:46am Jun 16, 2021 1:46am
Quoting Koop
{quote} https://ecocapitalfx.com Burn me NOW!!!
lazy to search back, but looks like the same funny Nigerian prop (the past posted on this thread) just with a reworked website, ver 2.0
the "CEO" name is a familiar one.
funny they have payment proofs, but the website so fresh literally nothing but the landing page is ready
there is always, always another trade!!
  • #1,551
  • Jun 16, 2021 2:22am Jun 16, 2021 2:22am
Quoting profitfarmer
{quote} lazy to search back, but looks like the same funny Nigerian prop (the past posted on this thread) just with a reworked website, ver 2.0 the "CEO" name is a familiar one. funny they have payment proofs, but the website so fresh literally nothing but the landing page is ready
Lol Nah not the Nigerian one. This one claims to be in the UK but their contact phone number shows a Ghana Country Code.
I read that they operate primarily on Telegram, if one could believe such a thing.
  • #1,552
  • Jun 16, 2021 2:40am Jun 16, 2021 2:40am
Quoting Koop
{quote} Lol Nah not the Nigerian one. This one claims to be in the UK but their contact phone number shows a Ghana Country Code. I read that they operate primarily on Telegram, if one could believe such a thing.
there is one solid thing: the site is made by in Indian webdesign company. that is the only legit contact there
there is always, always another trade!!
  • #1,553
  • Jun 16, 2021 3:16am Jun 16, 2021 3:16am
Quoting Koop
{quote} https://ecocapitalfx.com Burn me NOW!!!
the mind boggles (to be astonished or baffled when trying to imagine something)
Attached Image (click to enlarge)
Click to Enlarge Name: vision.png Size: 38 KB
  • #1,554
  • Jun 16, 2021 7:02am Jun 16, 2021 7:02am
Quoting Le.Metier
{quote} the mind boggles (to be astonished or baffled when trying to imagine something) {image}
Right. I'd say with 100% certainty, that if they don't proofread their vision statement, probably best to stay away. I mean "vission"
  • #1,555
  • Jun 16, 2021 7:11am Jun 16, 2021 7:11am
Mine, in no particular order...

FTMO- have passed 2 challenges, have 200K in funding and can confirm they pay
MFF- currently waiting for stage 2 credentials, great experience so far. Have talked with folks on the "inside". They improve every day and I am 99% certain they are looking long term
5%ers- this one will shock most coming from me. I cannot stand their standard model, but they probably have the best reputation of all. Looks like they've jumped through all the legal loopholes. I LOVE THE NEW MODEL, free eval, pay once you pass....$300 for $4K in DD. Currently on challenge 1 with them.
These are the only 3 I have personally used. The only other I can confidently say is legit is Enfoid, as I know a few traders who are with them. However, they are double the cost and 50% split and it doesn't change.
  • #1,556
  • Jun 16, 2021 7:38am Jun 16, 2021 7:38am
Quoting pipmaster77
Mine, in no particular order... FTMO- have passed 2 challenges, have 200K in funding and can confirm they pay MFF- currently waiting for stage 2 credentials, great experience so far. Have talked with folks on the "inside". They improve every day and I am 99% certain they are looking long term 5%ers- this one will shock most coming from me. I cannot stand their standard model, but they probably have the best reputation of all. Looks like they've jumped through all the legal loopholes. I LOVE THE NEW MODEL, free eval, pay once you pass....$300 for...
Hi pips,don't you plan to try VPS for MT4s and trading?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,557
  • Jun 16, 2021 7:59am Jun 16, 2021 7:59am
Quoting Simply-Me
{quote} Hi pips,don't you plan to try VPS for MT4s and trading?
No, I don't like to have the same trades in any more than 2 accounts at once. Variety of reasons....different restrictions, loss limits on the props, different systems fit better with each firm, etc. Right now, I have FTMO, personal account, then evals with MFF and 5%ers.
  • #1,558
  • Jun 16, 2021 8:28am Jun 16, 2021 8:28am
Quoting Koop
{quote} https://ecocapitalfx.com Burn me NOW!!!
the artwork looks very familiar ....
  • #1,559
  • Jun 16, 2021 8:46am Jun 16, 2021 8:46am
Quoting pipmaster77
{quote} No, I don't like to have the same trades in any more than 2 accounts at once. Variety of reasons....different restrictions, loss limits on the props, different systems fit better with each firm, etc. Right now, I have FTMO, personal account, then evals with MFF and 5%ers.

Now I manually trade 5 accounts different sizes mostly small and smaller -)), compare to 100k.
My plan is to open 7 100k accounts with 2 firms (1 by 1) and then add few more for later diversification.
After passing evaluation I plan to trade same trades and strategy on them use trade copier to get about 5% monthly,which is achievable.
I'm thinking about VPS to easy load on my comps.I'll run on VPS MT4s with plain charts only to open and close trades.No EAs.
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,560
  • Jun 16, 2021 9:57am Jun 16, 2021 9:57am
Quoting doji
{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...
yes...
doing a demo on their broker now,
but this could change whether I sign up or not.
It's a short leash.
Your thought on the overall profit made on the trader to that point is good.
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