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  • #601
  • Apr 25, 2021 8:03pm Apr 25, 2021 8:03pm
Are you saying you're now a funded trader at MFF (i.e. passed both Evaluation phases), @takisd?

Congrats, if so.

Kindly keep us updated...
Amor Fati--F. Nietzsche
  • #602
  • Apr 25, 2021 8:35pm Apr 25, 2021 8:35pm
Having checked out all the "Pay to Try" funded trader firms I find most are scams in the sense that they have unrealistic rules designed to trip you up. Especially the "Daily DD" rule.
I've decided to give Lux Trading a go. Still only 4%DD but realistic target criteria & good scaling plan. Time will tell.
All I have to do is trade as well as I do with my Darwinex account.
Look Left Trade Right
  • #603
  • Apr 26, 2021 1:21am Apr 26, 2021 1:21am
Quoting Miksiu
this darwin shit isn't as beatiful as paulmf aka darwinexpayme (for a side hustle) described. they don't accept trading on my own account. they just want me to trade their accounts until the score is right and then i will qualify for some funding.. no thanks i would rather trade my account with commissions or spread rebates and additionally for example 5ers and i will do better. why? because i will receive real money from my IB and my profits and i heard that 5ers pays on monthly basis no matter how much you've earned.. darwinex pays 15% QUARTERLY...
I considered Darwinex a long time ago but passed on it mainly due to all the hoops you had to jump through and the time involved to get anywhere meaningful.

Im not against it though and I can see that it fits well with many traders.

Masterrmind ........
Master your Mind then Master your Trades
  • #604
  • Apr 26, 2021 1:23am Apr 26, 2021 1:23am
Quoting Entuculo
Thanks i found a good trading system . Test #1will be completed after 10 days of trading {image}
Well done.

Masterrmind .........
Master your Mind then Master your Trades
  • #605
  • Apr 26, 2021 1:25am Apr 26, 2021 1:25am
Quoting garfield75
{quote} . May be worth adding the URL for prop funds if you have them handy.
Done !

Masterrmind .........
Master your Mind then Master your Trades
  • #606
  • Apr 26, 2021 1:31am Apr 26, 2021 1:31am
Quoting Mtinifx
This one has appeared very recently. Very competitive to say the least. But no track record I'm afraid. There are some videos on Youtube plus an interview with the owner (if that means anything!). https://tradersprop.com/funding-model
This one is definitely on my radar.

It ticks many boxes and the trading conditions appear ideal.

Probably too early to get any feedback regarding payouts but I’d certainly like to know.

Fewer trading rules to abide by as opposed to FTMO and that fee ... well its looking very tempting.

Masterrmind ........
Master your Mind then Master your Trades
  • #607
  • Apr 26, 2021 2:02am Apr 26, 2021 2:02am
Quoting Masterrmind
{quote} This one is definitely on my radar. It ticks many boxes and the trading conditions appear ideal. Probably too early to get any feedback regarding payouts but I’d certainly like to know. Fewer trading rules to abide by as opposed to FTMO and that fee ... well its looking very tempting. Masterrmind ........
Looks OK BUT. Has a "Daily" loss rule which is a big trap & a no no for me.
Look Left Trade Right
  • #608
  • Apr 26, 2021 2:39am Apr 26, 2021 2:39am
Quoting Basill
{quote} Looks OK BUT. Has a "Daily" loss rule which is a big trap & a no no for me.
??
how the a daily dd limit of 7% more restrictive ( a big trap?) than a 4% max dd?

"I've decided to give Lux Trading a go. Still only 4%DD but realistic target criteria & good scaling plan. Time will tell."

you dont make any sense.
there is always, always another trade!!
  • #609
  • Apr 26, 2021 3:17am Apr 26, 2021 3:17am
Quoting Basill
{quote} Looks OK BUT. Has a "Daily" loss rule which is a big trap & a no no for me.
Daily loss rule of 5% is a big trap In your opinion but you're gonna sign up for a overall max loss rule of 4%?

You do see the irony in that?

Quoting profitfarmer
{quote} ?? how the a daily dd limit of 7% more restrictive ( a big trap?) than a 4% max dd? "I've decided to give Lux Trading a go. Still only 4%DD but realistic target criteria & good scaling plan. Time will tell." you dont make any sense.
Haha just said the same thing before I saw your comment. I don't understand it.
  • #610
  • Apr 26, 2021 3:24am Apr 26, 2021 3:24am
Quoting Masterrmind
{quote} Done ! Masterrmind .........
Great job Masterrmind, thanks!
  • #611
  • Apr 26, 2021 3:36am Apr 26, 2021 3:36am
Quoting profitfarmer
{quote} ?? how the a daily dd limit of 7% more restrictive ( a big trap?) than a 4% max dd? "I've decided to give Lux Trading a go. Still only 4%DD but realistic target criteria & good scaling plan. Time will tell." you dont make any sense.
You need to appreciate the way the daily DD works. If you have a 2% dd on day 1 & still hold that into the next day, you then only have a 2% daily DD for day 2. & so on. It will catch you out big time. The Daily DD is a huge trap. I would not go anywhere near a plan with a daily DD rule. Put it into practice. You will soon see what I mean.
Look Left Trade Right
  • #612
  • Apr 26, 2021 3:42am Apr 26, 2021 3:42am
Quoting Basill
{quote} You need to appreciate the way the daily DD works. If you have a 2% dd on day 1 & still hold that into the next day, you then only have a 2% daily DD for day 2. & so on. It will catch you out big time. The Daily DD is a huge trap. I would not go anywhere near a plan with a daily DD rule. Put it into practice. You will soon see what I mean.
Further to that with tradersprop you have a 9% target & only 30 days to get there. With lux Trading I have forever to get 6% Go Figger.
Look Left Trade Right
  • #613
  • Apr 26, 2021 4:00am Apr 26, 2021 4:00am
Quoting Basill
{quote} You need to appreciate the way the daily DD works. If you have a 2% dd on day 1 & still hold that into the next day, you then only have a 2% daily DD for day 2. & so on. It will catch you out big time. The Daily DD is a huge trap. I would not go anywhere near a plan with a daily DD rule. Put it into practice. You will soon see what I mean.
i could explain you, just how silly this what you wrote. but frankly, not worth my time.
wish you best of luck and a sorting out of your numbers, both on relation to max dd vs daily dd limit, as well as target% vs daily or max dd.
all i can say is to reiterate that you make no sense ( mathematically. i dont care feelings).
the time limit is a different issue.
there is always, always another trade!!
  • #614
  • Apr 26, 2021 4:22am Apr 26, 2021 4:22am
Quoting profitfarmer
{quote} i could explain you, just how silly this what you wrote. but frankly, not worth my time. wish you best of luck and a sorting out of your numbers, both on relation to max dd vs daily dd limit, as well as target% vs daily or max dd. all i can say is to reiterate that you make no sense ( mathematically. i dont care feelings). the time limit is a different issue.
Can't be bothered with senseless dialogue.
you will have to find out the hard way
Best of luck.
Look Left Trade Right
  • #615
  • Apr 26, 2021 4:31am Apr 26, 2021 4:31am
Quoting Basill
{quote} You need to appreciate the way the daily DD works. If you have a 2% dd on day 1 & still hold that into the next day, you then only have a 2% daily DD for day 2. & so on. It will catch you out big time. The Daily DD is a huge trap. I would not go anywhere near a plan with a daily DD rule. Put it into practice. You will soon see what I mean.
Lol with the Lux and 5ers etc 4% max DD, if you have 2% DD for day 1, whether or not you hold that into day two, you only have 2% DD left for the next day and forever.
How is this a better deal?

Which looks like a trap? The one in which the daily DD limit resets everyday and you would be able to lose 2% every day for 5 days(as long as you close all trades each day) before you fail

or the one that you lose 2% in 2 days each and your account is gone?
You're letting the marketing confuse you.

A 4% max DD invalidates any other goodie a prop firm could possibly offer.
They can give 10 years to reach target for all I care, well they better do, seeing as I will have to be trading micro lots in order to respect that 4% risk and still manage to reach the profit target.

If one can make sure they never lose 5% in a day and in turn have 10% max DD to play with, why then would they choose to have only 4% to play with? Which is smaller the even the 5% daily DD?

Maybe there's something I'm missing
  • #616
  • Apr 26, 2021 5:08am Apr 26, 2021 5:08am
What Basill was trying to say is that:

In some prop-firms when your are finally "funded", the drawdown rule is not to lose more than a predefined value calculated at start. Let's say 5% of $100,000 ($5,000). What Basill is trying to remark here is the fact that if you increase your balance, let's say to $150,000, you can't go back to $145,000 because you are out (unfunded).

Instead, in Lux Trading Firm, when you are "funded", the drawdown rule is not to reach some specific equity level. In this specific case is 4%. Using the same example above mentioned ($100,00 "funded account"): you can do whatever you want whilst you don't surpass $96,400 equity. And that means, you can reach $150,000 balance and trade more agressively and losing in one day $53,000 and being still alive.

From this comparison, Basill gets the feeling that some prop-firms have a huge trap drawdown rule. And I agree with Basill on this regard. Instead, I don't agree with him in giving a Lux Trading Firm a go. Maybe, it does not deserves your try.

Koop you are always missing something except your lol. I think better if you don't laugh out loud, insult, discredit, show your misogyny attitude, etc. when you don't understand something. It's not a good attitude with your fellow traders.
Always ready to help
  • #617
  • Apr 26, 2021 5:26am Apr 26, 2021 5:26am
Quoting PaulMF
What Basill was trying to say is that: In some prop-firms when your are finally "funded", the drawdown rule is not to lose more than a predefined value calculated at start. Let's say 5% of $100,000 ($5,000). What Basill is trying to remark here is the fact that if you increase your balance, let's say to $150,000, you can't go back to $145,000 because you are out (unfunded). Instead, in Lux Trading Firm, when you are "funded", the drawdown rule is not to reach some specific equity level. In this specific case is 4%. Using the same example above mentioned...
Lol don't turn this thread into one of your confrontational clown shows.
You're just looking for a reason to attack me when you don't even have a clue what's being discussed.

That is not what Basil is addressing. He is not talking about relative drawdown vs absolute drawdown!

He is comparing a Daily loss limit of 5% and Max loss of 10% to Lux's max loss of 4%.

Your explanation is beyond senseless Paula. Take some time to read and understand before you start rambling and turning this place into something else.

Quoting PaulMF
What Basill was trying to say is that: In some prop-firms when your are finally "funded", the drawdown rule
Quoting Basill
{quote} Further to that with tradersprop you have a 9% target & only 30 days to get there. With lux Trading I have forever to get 6% Go Figger.
More proof that you're the one who has problems understanding.
Basil " was not trying to say anything about when you're finally funded"
  • #618
  • Apr 26, 2021 5:42am Apr 26, 2021 5:42am
Quoting Koop
{quote} Lol don't turn this thread into one of your confrontational clown shows. You're just looking for a reason to attack me when you don't even have a clue what's being discussed. That is not what Basil is addressing. He is not talking about relative drawdown vs absolute drawdown! He is comparing a Daily loss limit of 5% and Max loss of 10% to Lux's max loss of 4%. Your explanation is beyond senseless Paula. Take some time to read and understand before you start rambling and turning this place into something else. {quote} {quote} More proof that...
Unacceptable post. You keep your misogyny attitude, insults, etc.


I think what I say in my post (very respectful as always) makes sense based on what I read here:

Quoting Basill
{quote} You need to appreciate the way the daily DD works. If you have a 2% dd on day 1 & still hold that into the next day, you then only have a 2% daily DD for day 2. & so on. It will catch you out big time. The Daily DD is a huge trap. I would not go anywhere near a plan with a daily DD rule. Put it into practice. You will soon see what I mean.
Can I be wrong? Yes, but does not make me a clown nor Paula nor etc.
Always ready to help
  • #619
  • Apr 26, 2021 6:07am Apr 26, 2021 6:07am
Quoting PaulMF
{quote} Unacceptable post. You keep your misogyny attitude, insults, etc. I think what I say in my post (very respectful as always) makes sense based on what I read here: {quote} Can I be wrong? Yes, but does not make me a clown nor Paula nor etc.
No time to further waste on you Paula.
You're a clown if you can't focus on the topic at hand without waking up to call me a misogynist out of now where lmao. (Very Respectful as always).

Now please, move aside and allow civil and intelligent discourse amongst actual Traders.
  • #620
  • Apr 26, 2021 6:16am Apr 26, 2021 6:16am
Quoting Basill
{quote} Further to that with tradersprop you have a 9% target & only 30 days to get there. With lux Trading I have forever to get 6% Go Figger.
Certainly the time factor is an important consideration.

If you are lagging far behind you really start feeling some pressure.

This added pressure can be the stimulus for rash decisions and over-trading which can catch you out.

Masterrmind ........
Master your Mind then Master your Trades
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