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  • #2,001
  • Jul 2, 2021 2:24pm Jul 2, 2021 2:24pm
Hey guys, I've been looking into trying MFF or FT. I trade mostly indices and feel like my chances of success will depend a lot on the spreads I'm working with given my trading style. Reading a few posts above, seems like FT is no good for indices. I contacted MFF and they gave me a screenshot of typical spreads that I thought were really good: XAUUSD 15 US30 260 NAS100 115 spx500 46 USOIL 5 Can you confirm that these are indeed typical when trading with them? Commissions involved? Thanks a bunch.
  • #2,002
  • Jul 2, 2021 11:18pm Jul 2, 2021 11:18pm
Quoting Trader-IT
{quote} Thanks Masterrmind for your reply. I follow this thread with great interest. Your information and the shared experiences of all the Traders who test the Prop, are a precious mine. Really very important. Thank you again. But I think that - in parallel - there should also be information on the functionality of the platforms. So that a Trader is aware of all the strengths and weaknesses. And on their tools, in particular the management ones, useful for passing the different tests, after having selected those that are ideal for themselves. It...
Each Prop Firm will have it's differences in terms of critical trading objectives.

However, the common ones are:

Daily Drawdown;
Max Account Drawdown;
Profit Target;
Minimum Trading Days;
Flat over the Weekend; and
No trading at High Impact News events.

Of course, there are more trading objectives at some Prop Firms and fewer at others but what I listed above are the common ones.

Simple indicators are available from several Prop Firms to assist the trader in monitoring key trading objectives such as the drawdown, however, capturing the accounts minimum equity levels generally requires that the terminal be running constantly.

Be very careful when using an indicator that traces out equity and balance over historical time because it may not capture the minimum account equity especially in MT4.

You will need to source a solution to the discrepancy between the result shown in MT4 compared to MT5.

Perhaps ask this question on the mql5 forum or the Platform Tech Forum here on FF.

Otherwise, you will need to allow a reasonable buffer such that Prop Firm trading objectives are not breached.

The other less favorable option is to use a Prop Firm that meets your needs and uses the MT4 platform.

Quite the dilemma.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,003
  • Jul 3, 2021 4:59am Jul 3, 2021 4:59am
FTMO

I notice they now have an FTMO Swing account.

In brief it provides 30:1 leverage.

Same 5% max daily loss and 10% max loss and a 10% target.

Trading during high impact news events is allowed.

Leaving positions open through the weekend is allowed.

My preference will remain with the 100:1 account but perhaps the 30:1 Swing will suit those traders who love news trading and are swing traders.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,004
  • Jul 3, 2021 5:56am Jul 3, 2021 5:56am
Quoting Masterrmind
FTMO I notice they now have an FTMO Swing account. In brief it provides 30:1 leverage. Same 5% max daily loss and 10% max loss and a 10% target. Trading during high impact news events is allowed. Leaving positions open through the weekend is allowed. My preference will remain with the 100:1 account but perhaps the 30:1 Swing will suit those traders who love news trading and are swing traders. Masterrmind .........
and the challenge duration 30 days?
  • #2,005
  • Jul 3, 2021 7:41am Jul 3, 2021 7:41am
Quoting Masterrmind
FTMO I notice they now have an FTMO Swing account. In brief it provides 30:1 leverage. Same 5% max daily loss and 10% max loss and a 10% target. Trading during high impact news events is allowed. Leaving positions open through the weekend is allowed.
Great news ! News trading interdiction was quite annoying. I wonder if FTMO will allow active accounts to switch from Normal to Swing, I would certainly make that call.
  • #2,006
  • Edited 10:23am Jul 3, 2021 8:57am | Edited 10:23am
Quoting Masterrmind
FTMO I notice they now have an FTMO Swing account. In brief it provides 30:1 leverage. Same 5% max daily loss and 10% max loss and a 10% target. Trading during high impact news events is allowed. Leaving positions open through the weekend is allowed. My preference will remain with the 100:1 account but perhaps the 30:1 Swing will suit those traders who love news trading and are swing traders. Masterrmind .........
I love this, very nice on FTMO'S part on listening to the traders that want to swing trade
I will definitely be one of them that will sign up with you, weekends and 70% payout,
no news restrictions or SL required, with a static DD,
you are making the traders life a lot easier, I am in
Those who don't believe in magic will never find it
  • #2,007
  • Edited 9:27am Jul 3, 2021 9:15am | Edited 9:27am
Quoting Masterrmind
FTMO I notice they now have an FTMO Swing account. In brief it provides 30:1 leverage. Same 5% max daily loss and 10% max loss and a 10% target. Trading during high impact news events is allowed. Leaving positions open through the weekend is allowed. My preference will remain with the 100:1 account but perhaps the 30:1 Swing will suit those traders who love news trading and are swing traders. Masterrmind .........
That's great news.
If there is no other catch, I'm willing to sacrifice leverage.
Let me ask you MM,how many lots you usually open at once?
With 1:30 L you can easily open 20 lots with plenty of margin left.
And with DD and max limits you'll never use advantage of 1:100.
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,008
  • Jul 3, 2021 10:17am Jul 3, 2021 10:17am
Quoting Simply-Me
{quote} That's great news. If there is no other catch, I'm willing to sacrifice leverage. Let me ask you MM,how many lots you usually open at once? With 1:30 L you can easily open 20 lots with plenty of margin left. And with DD and max limits you'll never use advantage of 1:100.
I agree. But i think it depends on one's trading style.

Personally, 1:30 is more than enough especially when you consider the removal of those restrictions. I could take about up to three concurrent 1% risk trades with moderate stops with 1:30.

Scalpers or day traders who open larger positions with smaller targets may find it too small though.

I think it's a great offer, even for day traders.
  • #2,009
  • Jul 3, 2021 11:13am Jul 3, 2021 11:13am
https://ftmo.com/en/swing-account-ty...w-free-trials/

FTMO SWING 1:30 is plenty of leverage, each of my positions are 5:1 (see my trader dashboard),

Yes I will be choosing Swing Trading option from now on.

Is it Now Over for the 5ers, City Traders Imperium, Audacity Capital, BluFX???



I think it might be...
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 19.0%
  • #2,010
  • Jul 3, 2021 11:43am Jul 3, 2021 11:43am
Quoting Phil_GMT
https://ftmo.com/en/swing-account-ty...w-free-trials/ FTMO SWING 1:30 is plenty of leverage, each of my positions are 5:1 (see my trader dashboard), Yes I will be choosing Swing Trading option from now on. Is it Now Over for the 5ers, City Traders Imperium, Audacity Capital, BluFX??? I think it might be...
Unless they go to a challenge/verification model. These "instant" funding, pay a fee higher than the DD allowed are horrible. Possibly why the 5%ers is doing the summer plan? That's truly the ultimate, although challenging, you don't pay until you pass. When you get to the stage of having to pay them any money, you are funded immediately. $300 for 4 K drawdown, right in line with FTMO $600 for 10K and MFF $500 for 12K. Of course, FTMO and MFF you pay for challenge upfront.
  • #2,011
  • Jul 3, 2021 11:56am Jul 3, 2021 11:56am
Quoting Koop
{quote} I agree. But i think it depends on one's trading style. Personally, 1:30 is more than enough especially when you consider the removal of those restrictions. I could take about up to three concurrent 1% risk trades with moderate stops with 1:30. Scalpers or day traders who open larger positions with smaller targets may find it too small though. I think it's a great offer, even for day traders.
Probably next challenge I will go with this new account,however I will not use any swing strategy with long term holding,because DD and overall loss rules are remain same and I'll stick with may daytrading strategy,but it will give that peace of mind,that if I'll need,I have it.
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,012
  • Jul 3, 2021 5:41pm Jul 3, 2021 5:41pm
Hi Wileyy,
I signed up with Luxtrading. Beware of the 4% relative drawdown but otherwise the spread are around one point, usually less. It's perfect for me. I still think MT4 is not ideal for scalping but I've downloaded an EA which automatically sets my SL according to the risk percentage of my liking. For now 0.25%. I'll let you know how it goes.
  • #2,013
  • Jul 3, 2021 8:21pm Jul 3, 2021 8:21pm
But you still need to pass the FTMO Evaluation (Challenge/Verification), right?

You only get to choose the Swing option AFTER you've become a funded trader.

Please correct me if I'm wrong.
Amor Fati--F. Nietzsche
  • #2,014
  • Jul 3, 2021 8:35pm Jul 3, 2021 8:35pm
Quoting doji
But you still need to pass the FTMO Evaluation (Challenge/Verification), right? You only get to choose the Swing option AFTER you've become a funded trader. Please correct me if I'm wrong.
You would go through all stages as a SWING account. All of the same rules apply. The exception is you can hold all the time (weekends, 2 hour gaps, news). In exchange for this benefit, your leverage is 30:1 instead of 100:1. Pricing is still the same, profit targets (challenge and verification), daily DD and max DD are all the same. They say you can switch from traditional to swing before you start trading, even once funded, you can switch the next cycle. To me, the loophole looks like you can do challenge and verification with 100:1, since the weekend and news holding doesn't apply, and then switch to SWING once you pass. 30:1 is plenty anyway though. When I go heavy and use 10:1 on a short term trade with tight stop (very rare), I am glued to the monitor with sweat poring off of me. I may do this 3-4 times per month, get the stop to BE as quick as possible and try to hit a 10:1 RR runner. Other than that, I truly cannot see how folks use anything higher, unless you are using a 2-3 pip stop, but I am sure that affects your win rate lol. 20 pips per day with 2:1 yields 8% per month.

Edit: No loophole. Just re-read the post, only current traders can switch next cycle, and only current challenge/verification accounts can switch once they pass.
  • #2,015
  • Jul 3, 2021 9:27pm Jul 3, 2021 9:27pm
The only thing to shout about from the FTMO announcement is the - Free Trials update. Can make use of the free trials to test various strategies.

As for swing trade, etc MFF has the best value as of now. Next is The5ers, if you have signed up as many free account as you like, it is still available as of now.
The5ers Summer Plan with all the rule in place is one of the best for practice because it is one of the hardest to pass.
  • #2,016
  • Jul 3, 2021 10:09pm Jul 3, 2021 10:09pm
Quoting mixedbags
The only thing to shout about from the FTMO announcement is the - Free Trials update. Can make use of the free trials to test various strategies. As for swing trade, etc MFF has the best value as of now. Next is The5ers, if you have signed up as many free account as you like, it is still available as of now. The5ers Summer Plan with all the rule in place is one of the best for practice because it is one of the hardest to pass.
I doubt anyone can pass the 3 step challenge. If anyone pass the challenge, post here. You must be the top 0.1% trader.

Such trader has no problem making big money(50k and more a month) from MFF and FTMO, giving a combined $700k max funding before scaling.
Know what you trade
  • #2,017
  • Jul 3, 2021 10:13pm Jul 3, 2021 10:13pm
Quoting Simply-Me
{quote} That's great news. If there is no other catch, I'm willing to sacrifice leverage. Let me ask you MM,how many lots you usually open at once? With 1:30 L you can easily open 20 lots with plenty of margin left. And with DD and max limits you'll never use advantage of 1:100.
For me its not so much the volume per trade but rather total exposure across all open positions and pending orders if applicable.

The 100:1 is an advantage over the 30:1 in the event I wish to add volume into the favored direction or to open positions in other pairs when DD is seen to be rising.

Think of it if you like as buying power:

$200 000 x 30 = $6 Million

$200 000 x 100 = $20 Million.

Greater buying power is the better deal in any situation provided the trader knows how best to use it .

Different trading objectives/rules set by the Prop Firm will obviously sway traders to one side or the other based on his/her trading strategy.

Masterrmind.........
Master your Mind then Master your Trades
  • #2,018
  • Jul 3, 2021 10:19pm Jul 3, 2021 10:19pm
Quoting BWilliam
{quote} I doubt anyone can pass the 3 step challenge. If anyone pass the challenge, post here. You must be the top 0.1% trader. Such trader has no problem making big money(50k and more a month) from MFF and FTMO, giving a combined $700k max funding before scaling.
Yes those who can pass is not by luck and their swing trades or position trades must be very good. I am a scalper but have sign up 2 , one for swing and the other for position.
  • #2,019
  • Jul 4, 2021 1:05am Jul 4, 2021 1:05am
In my opinion, One need to trade intraday/ scalping to pass challenge.

Funded account, one can trade swing.
Intraday only.
  • #2,020
  • Edited 1:31am Jul 4, 2021 1:21am | Edited 1:31am
Quoting Masterrmind
{quote} For me its not so much the volume per trade but rather total exposure across all open positions and pending orders if applicable. The 100:1 is an advantage over the 30:1 in the event I wish to add volume into the favored direction or to open positions in other pairs when DD is seen to be rising. Think of it if you like as buying power: $200 000 x 30 = $6 Million $200 000 x 100 = $20 Million. Greater buying power is the better deal in any situation provided the trader knows how best to use it . Different trading objectives/rules set by the...
MM I agree with you and I'm using advantage of 1:500 leverage on ma real accounts,where I don't have to keep my all capital in broker ,like pipmaster77 mentioned and very often my margin level runs close to 100%,but I'm always ready put more capital if needed.
This strategy in not applicable with prop firms and with their daily and overall drawn down rules and don't see much room to use of higher leverage.
Whether you think you can, or you think you can't,you're right. H.F.
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