Prop Firm Hub | Page 18 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #341
  • Apr 10, 2021 3:08pm Apr 10, 2021 3:08pm
Quoting Mtinifx
I'm seriously considering joining Mastermind. I was toying with TPT or Myff but the customer service is really poor on both of them. Probably Myff is a better bet but they don't yet offer a $200k option and to be honest I'm frightened by their 5% daily DD on equity and balance having failed on that very issue before. My view is that if one goes for a $200k (I believe Fidelcrest offers up to $400k but I don't trust them) one can still trade 5 lots per trade (max) and set a reasonable SL and one is only risking 2% to 3% of the account....

Good luck, you can do it mate ! That is with FTMO, right ?

Isnt Myff a canadian firm ? If so, stay away ! even prop firms out there can too easily get taken out by their financial authority when its anything related to highleverage FX (anything above 1:30) ! No matter what they say, not being a broker, etc. Doesnt matter in Canada. Trust me. be extra careful with CAD firms. Dont take their word for it.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #342
  • Apr 10, 2021 3:10pm Apr 10, 2021 3:10pm
Quoting allinazi
{quote} yep similar to you once I got the contract agreement lost interest ... also having to close positions pre data is a bit of a pain (for me anyways)
Are you still "trading" for Fortis?
  • #343
  • Edited 3:26pm Apr 10, 2021 3:14pm | Edited 3:26pm
! I'd like to see someone taking on the lowest priced challenge because he/she cant afford anything more and/or because he simply believes its best for him to properly test the waters slowly first, make it!, and pay the next challenge with what they make with that account, and on and on all the way up to the very top ! Recording the whole adventure. Wouldnt that make an excellent story to follow ?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #344
  • Apr 10, 2021 3:42pm Apr 10, 2021 3:42pm
Quoting mtako
! I'd like to see someone taking on the lowest priced challenge because he/she cant afford anything more and/or because he simply believes its best for him to properly test the waters slowly first, make it!, and pay the next challenge with what they make with that account, and on and on all the way up to the very top ! Recording the whole adventure. Wouldnt that make an excellent story to follow ?
Hi,
me will start soon the lowest challenge. I do the math right now and I have to adopt my way of trading.
I will report here..

Best
Chriss
  • #345
  • Apr 10, 2021 3:47pm Apr 10, 2021 3:47pm
Quoting chrissfx
{quote} Hi, me will start soon the lowest challenge. I do the math right now and I have to adopt my way of trading. I will report here.. Best Chriss
You are awesome Chrissfx ! Wishing you the very best. With which firm ?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #346
  • Apr 10, 2021 4:00pm Apr 10, 2021 4:00pm
Quoting nikosk0
{quote} myff has agreesive 100k witch is essentially the same as 200k normal i belive. go check it
I don't think the DD is different. Only the eventual payout percentage and the leverage is more

RULE # 8 – Risk & Account Management
In any account size, you must not have a drawdown of 5% or higher in a trading day (floating drawdown – calculated with equity, or balance, at any given time). This will be monitored closely and if violated will result in account suspension.
Drawdown % = [1 – (lowest equity or balance for the day) / (starting equity or balance for the day) ] X 100
  • #347
  • Apr 10, 2021 4:01pm Apr 10, 2021 4:01pm
Quoting mtako
{quote} Good luck, you can do it mate ! That is with FTMO, right ? Isnt Myff a canadian firm ? If so, stay away ! even prop firms out there can too easily get taken out by their financial authority when its anything related to highleverage FX (anything above 1:30) ! No matter what they say, not being a broker, etc. Doesnt matter in Canada. Trust me. be extra careful with CAD firms. Dont take their word for it.
Thanks mate. Yes FTMO for sure
  • #348
  • Apr 10, 2021 4:33pm Apr 10, 2021 4:33pm
Quoting mtako
{quote} You are awesome Chrissfx ! Wishing you the very best. With which firm ?
Hey,
i will do it FTMO.
It will take a month until I'm prepared...

Best
Chriss
  • #349
  • Apr 10, 2021 4:38pm Apr 10, 2021 4:38pm
Quoting mixedbags
{quote} your drawdown is huge. Take a break from weekend trading.
You think 2.5% in DD is huge ??

Weekend trading had very little impact at all.

The path to the current DD level (2.5%) has been the result of a week's worth of trading.

Still trading well within the trading objectives so I'm ok with that.

It's a war of many battles, some battles you lose, others you win but in the end it's where you finish that counts.

Masterrmind .........
Master your Mind then Master your Trades
  • #350
  • Apr 10, 2021 4:53pm Apr 10, 2021 4:53pm
Quoting mtako
{quote} for after the challenge, " There is an account review if you drawdown 5% in any given day. " reasonable ! subjective consistency rule So basically, if you have different strategies that necessitate different money management, they can take you out subjectively..... even if you never even got close to their dd. Ftmo has managed to take all subjective rule out. If they can do it, so can the others. I wouldnt go with ANY firm that has ANY subjective rules in place.
Subjectivity can massively disadvantage the trader.

Definitely stay away from these operations, clearly they are in it for themselves offering little flexibility to the hard working trader.

Masterrmind ........
Master your Mind then Master your Trades
  • #351
  • Apr 10, 2021 11:24pm Apr 10, 2021 11:24pm
Quoting mtako
! I'd like to see someone taking on the lowest priced challenge because he/she cant afford anything more and/or because he simply believes its best for him to properly test the waters slowly first, make it!, and pay the next challenge with what they make with that account, and on and on all the way up to the very top ! Recording the whole adventure. Wouldnt that make an excellent story to follow ?
I see you like rags to riches stories.
  • #352
  • Apr 10, 2021 11:29pm Apr 10, 2021 11:29pm
Quoting Masterrmind
{quote} You think 2.5% in DD is huge ?? Weekend trading had very little impact at all. The path to the current DD level (2.5%) has been the result of a week's worth of trading. Still trading well within the trading objectives so I'm ok with that. It's a war of many battles, some battles you lose, others you win but in the end it's where you finish that counts. Masterrmind .........
Ignore him, he's just a nutjob, see his reply (post #12) in my thread here.
  • #353
  • Apr 11, 2021 3:31am Apr 11, 2021 3:31am
I either found 5ers' Reddit account or I found them ripping off content.

https://www.forexfactory.com/thread/...9#post13490069
  • #354
  • Apr 11, 2021 5:40am Apr 11, 2021 5:40am
Quoting kCBHk
{quote} Ignore him, he's just a nutjob, see his reply (post #12) in my thread here.
so do you still PM others rendering your services.
  • #355
  • Apr 11, 2021 5:52am Apr 11, 2021 5:52am
Quoting Mtinifx
Oh I see The TE was synced 7 hours ago - right now the trade is actually in credit. I got 60150 on Bitcoin Actually I have never traded crypto before. Wow this morning around the time one would be up for Frankfurt/London the price went up like a rocket - Would have been a nice earner!
Just be aware of the immediate DD when opening a position in Bitcoin.

I'm seeing a spread around $143 per 1 lot over the weekend.

At 1 lot you get $ for $ so if Bitcoin moves 1000 so too does your equity, up or down as the case may be.

Careful here since placing 10 lots would immediately put your account in DD to the tune of about $1430.

Nice though if Bitcoin moves 1K in your favor it's a tasty 10k to your equity.

I can easily see how a smaller challenge account could get into some serious trouble if they have 'big fingers' when it comes to entering position size.

A reason why I try to build into a larger position starting with smaller volume even when trading a somewhat larger account.

Take care traders,

Masterrmind .......
Master your Mind then Master your Trades
  • #356
  • Apr 11, 2021 7:00am Apr 11, 2021 7:00am
Quoting Masterrmind
{quote} Just be aware of the immediate DD when opening a position in Bitcoin. I'm seeing a spread around $143 per 1 lot over the weekend. At 1 lot you get $ for $ so if Bitcoin moves 1000 so too does your equity, up or down as the case may be. Careful here since placing 10 lots would immediately put your account in DD to the tune of about $1430. Nice though if Bitcoin moves 1K in your favor it's a tasty 10k to your equity. I can easily see how a smaller challenge account could get into some serious trouble if they have 'big fingers' when it comes...
Thanks bro

Yes I noticed - was going to comment on it actually. The spread is quite scary. I doubt very much if I will bother trading over the weekend when I get started.
  • #357
  • Apr 11, 2021 9:01am Apr 11, 2021 9:01am
Quoting kCBHk
{quote} I see you like rags to riches stories.

noooooo not what I meant exactly...

I like all good people, and if they make their life easier for themselves and their loved ones without hurting others, I like it even more, simply put; no matter where they were, are, or are going.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #358
  • Apr 11, 2021 1:14pm Apr 11, 2021 1:14pm
OK I'm with you bro. Just waiting for my login details

I will stick up a TE - I'm mostly using an EA so it's one trade at a time. Let's hope the darn thing doesn't let me down. It's been working great on demo
  • #359
  • Apr 11, 2021 1:30pm Apr 11, 2021 1:30pm
What I hate about FTMO is no weekend trades. Apart from that, I don't need anything else! I am a fully automated trader and my whole portfolio is gathered of around 40 EAs that trade together, and some hold longer, most of them will hold over the weekend.

If they gave an option to actually have a weekend trading id join this second..

Is anyone else trading automated?
In God we trust. All others must bring data.
  • #360
  • Apr 11, 2021 1:35pm Apr 11, 2021 1:35pm
Quoting Mtinifx
OK I'm with you bro. Just waiting for my login details I will stick up a TE - I'm mostly using an EA so it's one trade at a time. Let's hope the darn thing doesn't let me down. It's been working great on demo
Are you going to try getting 10% right from the start, or make sure you get +1$ at the end and go gradually and at the very worst just have a free retake again and again till the best conditions come?

Be careful. Wishing you patience and you best discipline, even with an ea, or expecially with an ea ! Good luck !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
65 traders viewing now