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  • #2,361
  • Edited 11:52am Jul 18, 2021 11:10am | Edited 11:52am
Does any of you know any prop firms that actually gives you live account, with real money, after you get funded?
  • #2,362
  • Edited 11:25am Jul 18, 2021 11:12am | Edited 11:25am
Quoting mcquak
{quote} I'm wondering why do you think Tier1fx is dodgy? Actually I'm considering to enroll into LUX programme. Targets are very reasonable (nothing like 10% in 20 days), rules are also quite reasonable ( nothing like trade only Mon, Wed and Thu after the lunch like FTMO and co. ). Agree, their support is very responsive. I'll give them more time to show up who they are, and eventually will start with them

Are you sure you understand Lux minimum trading days rule...

Its gonna take u min 7 months to get to d last stage thats assuming ur strategy give u signal every day and u hit d targets of each stage within d minimum trading days and u can't do 0.01 lot or infact any disproportionate lot size to fill in for trading days ...

All that stress for 65%

And dnt be fooled by their 6% profit target because u have 4% relative dd ...Emphasis on that dangerous word called "relative"
  • #2,363
  • Jul 18, 2021 11:54am Jul 18, 2021 11:54am
Quoting Masterrmind
One I may or may not consider in the future is Funded Trading Plus. They currently have 3 pricing models: $60000 for $600 fee; $100000 for $800 fee; and $500000 for $1200 fee. The trader has to manually enter setups in the Talented Trader Program Portal with a minimum 25 pips stop and the portal will automatically place a 2:1 target to stop level. If you place a 25 pips stop the portal will assign a 50 pips profit target, place a 30 pips stop and a 60 pips target is assigned and so on. So what the Prop Firm is looking for here is a series of setups...

this model is obscene... thats all I have to say about that.
  • #2,364
  • Jul 18, 2021 12:01pm Jul 18, 2021 12:01pm
Ok, my friends....

This morning I purchased the Evaluation model from MFF, since I was not so hot of any evaluation model
I decided to go one step at a time and purchased the 20k one

Originally the plan was to sign up with FTMO, but after close examination I found that the terms with MFF
are a lot more appealing to me. I really wanted to go with FTMO, that was the original plan since I already
have a ACCELARATED EPHATIC account with MFF, and wanted to have my accounts with 4-5 different companies.
I found that FTMO'S dashboard kicks ass, I love it, it helped me a lot....(the best one by far), and their support
class 1
But the 1:30 leverage, the higher win target, and the lower long term payout made me got with MFF

Also my experience with MFF is A1 till now so it was a no brainer in the end

Have a good week everyone and may the pips be with us!!!
Those who don't believe in magic will never find it
  • #2,365
  • Jul 18, 2021 12:07pm Jul 18, 2021 12:07pm
Quoting Immortal99
{quote} Are you sure you understand Lux minimum trading days rule... Its gonna take u min 7 months to get to d last stage thats assuming ur strategy give u signal every day and u hit d targets of each stage within d minimum trading days and u can't do 0.01 lot or infact any disproportionate lot size to fill in for trading days ... All that stress for 65% And dnt be fooled by their 6% profit target because u have 4% relative dd ...Emphasis on that dangerous word called "relative"
Trading should be a marathon not a sprint my friend. What's the problem with 29 minimum days?
Re. 4% DD, this requirement exactly suits my personality perfectly. I prefer very low DD on my accounts as well.

I see it this way (it's my personal opinion, everybody has one):
All these programs, that require you to make 10% in 20 trading days (30 calendar days) only show, that they do not want the best or good solid traders, they only target your wallet for the fees. The more trials, the better. It's pure gambling. I do not claim it's not possible to do it, but what kind of traders do you think will participate in it mostly? The cowboys who want to make money quickly, hence there is a quite good chance that people with such personalities do not survive long in "funded" status. And these people are targets of these "prop" firms, and I do not like this approach. Trading by the LUX's trading rules requires mature stable people who do no "shoot" for every move in the bush.

And last and not least, I was chatting with LUX, they told me, apart from having Chaltehnam in the background they get money from Tier1fx, from the trading volume coming through them. These guys are not scammers aiming for the fees, they really need marathoner traders who with stady trading strategy making a volume for the long term rather than shooting cowboys.
And trust me, I do not have any problem with cowboys at all ;-)
  • #2,366
  • Jul 18, 2021 12:21pm Jul 18, 2021 12:21pm
Quoting navk
{quote} How is your FT account doing ?
It's doing ok.

I really haven't done much trading for about a month. Kids are on school break so we've been doing lots of camping, hiking, biking, bird nerding, wildlife photography, sleepovers, etc etc.

In a couple of weeks school starts up again and I'll get back on the charts.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,367
  • Jul 18, 2021 12:29pm Jul 18, 2021 12:29pm
Quoting mcquak
{quote} Trading should be a marathon not a sprint my friend. What's the problem with 29 minimum days? Re. 4% DD, this requirement exactly suits my personality perfectly. I prefer very low DD on my accounts as well. I see it this way (it's my personal opinion, everybody has one): All these programs, that require you to make 10% in 20 trading days (30 calendar days) only show, that they do not want the best or good solid traders, they only target your wallet for the fees. The more trials, the better. It's pure gambling. I do not claim it's not possible...
Just sayin', 8% monthly is 20 pips daily with only 2:1 leverage, 10% is 25 pips. This only needs to be done once. After you do it, you are IN WAY BETTER POSITION than any of those scaling models.
  • #2,368
  • Edited 12:58pm Jul 18, 2021 12:37pm | Edited 12:58pm
Quoting mcquak
{quote} Trading should be a marathon not a sprint my friend. What's the problem with 29 minimum days? Re. 4% DD, this requirement exactly suits my personality perfectly. I prefer very low DD on my accounts as well. I see it this way (it's my personal opinion, everybody has one): All these programs, that require you to make 10% in 20 trading days (30 calendar days) only show, that they do not want the best or good solid traders, they only target your wallet for the fees. The more trials, the better. It's pure gambling. I do not claim it's not possible...

Check ur maths properly...

If u claim u can do 6% with 4% dd

then do u knw its easier to do FTMO 10% target with 10% max dd

2.5*4%[lux max dd]=10%[Ftmo max dd]
2.5*6%[lux target]=15%[ftmo 10% profit smashed + extra 5%]


U can only say d max 26 active trading days{30 calendar days} is too short for ur strategy which means u trade daily candles and above

And that prop firms want 10% in 30 calendar days [mostly in the test period only] doesn't mean they want to steal ur fees it means they prefer "quick turnover" type of traders i.e day traders ...

Companies pay monthly expenses and they are not gonna wait for u to hold a trade for weeks to make jst 1-3%
  • #2,369
  • Edited 1:16pm Jul 18, 2021 12:47pm | Edited 1:16pm
Quoting pipmaster77
{quote} Just sayin', 8% monthly is 20 pips daily with only 2:1 leverage, 10% is 25 pips. This only needs to be done once. After you do it, you are IN WAY BETTER POSITION than any of those scaling models.
Fain enough. This is pure math.
Nobody is perfect, and my personality does not like to be pushed to get 20 pips per day. Trading should not be stressful, trading should be boring, I do not trade manually after all.

Quoting Immortal99
{quote} Check ur maths properly... If u claim u can do 6% with 4% dd then do u knw its easier to do FTMO 10% target with 10% max dd 2.5*4%[lux max dd]=10%[Ftmo max dd] 2.5*6%[lux target]=15%[ftmo profit by extra 5%] U can only say the 20 days max trading days is too short for ur strategy which means u trade daily candles and above And that prop firms want 10% in 20 trading days doesn't mean they want to steal ur fees it means they prefer "quick turnover" type of traders i.e day traders ... Companies pay monthly expenses and they are not gonna wait...
I did not do any calculation Immortal, so my math could be hardly wrong, and I did not tell I hold trades weeks; I do not trade daily candles at all.

Can you tell me what's the point to have a 10%/20days rule? I know, it's required only 1st month etc. But what's the rationale for that?

Quoting Immortal99
{quote}
And that prop firms want 10% in 20 trading days doesn't mean they want to steal ur fees it means they prefer "quick turnover" type of traders i.e day traders ...

Companies pay monthly expenses and they are not gonna wait for u to hold a trade for weeks to make jst 1-3%
I do not think that any company would require you to make 10% a month. As I said, it's a pure trap for cowboys and wannabe traders who want to be rich quickly. And I know no one pushes anybody to take their evaluations; we are all adults.
Furthermore, the turnover does not have to mean you must do a profit. Take market makers, market making is turnover business. What FTMO would have from the turnover on DEMO account anyway? And if they do turnover business, why 10%/20 days rule is only for the first month, it does not make sense, does it?
If LUX is paid, by their own claims, based on turnover made for the broker, they would ask for cowboy traders, would not they? But they do not. Why?

If you are ok with FTMO, fine. I do not like FTMO's conditions. I considering also other things than just the simple math of DD and the required target and profit split percentage. That's all.
  • #2,370
  • Jul 18, 2021 1:14pm Jul 18, 2021 1:14pm
Just bought the Buoytrade "one foot in the casino" thingy for $67.50.

Love the model. Like going out for a night of blackjack at the casino with a $100. Either you go home with piles of cash or you go home with zero and had a great time.
Pride always comes before destruction.... -Proverbs 16:18
  • #2,371
  • Edited 1:43pm Jul 18, 2021 1:16pm | Edited 1:43pm
Quoting mcquak
{quote} I did not do any calculation Immortal, so my math could be hardly wrong, and I did not tell I hold trades weeks; I do not trade daily candles at all. Can you tell me what's the point to have a 10%/20days rule? I know, it's required only 1st month etc. But what's the rationale for that? {quote} I do not think that any company would require you to make 10% a month. As I said, it's a pure trap for cowboys and wannabe traders who want to be rich quickly. And I know no one pushes anybody to take their evaluations; we are all adults. Furthermore,...

I dnt knw but 10% a month is a decent target for forex intra day traders and its very realistic ...

personally i would only entrust u with my capital if u prove to be at least above average.

and lux takes non refundable fees too

i dnt knw ur definition of stable n mature but if u trade less than daily candle n u cant make 10% in 26 days it means all 3 below metrics are below avg

Win rate
RR
Trade per day No.

But hey its just my opinion gathered frm my experience and people i knw.
  • #2,372
  • Jul 18, 2021 1:49pm Jul 18, 2021 1:49pm
Quoting Expo33
Just bought the Buoytrade "one foot in the casino" thingy for $67.50. Love the model. Like going out for a night of blackjack at the casino with a $100. Either you go home with piles of cash or you go home with zero and had a great time.
You and PayTheBid are just competing for who has tried the most Prop offers/firms at this point Lol.

I was going to try the Buoy direct funding model too since it's just $67 with an attractive 5% scaling target.... but that drop in leverage after the first step kind of worries me.
Still interesting nonetheless, might be my last stop.
  • #2,373
  • Jul 18, 2021 1:51pm Jul 18, 2021 1:51pm
By the way, Any one of you 5ers summer plan guys crossed over to stage 2 yet?
  • #2,374
  • Jul 18, 2021 2:06pm Jul 18, 2021 2:06pm
Quoting Koop
By the way, Any one of you 5ers summer plan guys crossed over to stage 2 yet?
Yes, I did................then, well, you know, stuff happened
Attached Image
Pride always comes before destruction.... -Proverbs 16:18
  • #2,375
  • Jul 18, 2021 2:31pm Jul 18, 2021 2:31pm
Quoting Koop
By the way, Any one of you 5ers summer plan guys crossed over to stage 2 yet?
If everything goes normal I will be this week(I am super close), but I should shut up and trade cause when I open my mouth it
slows me down...lol
Those who don't believe in magic will never find it
  • #2,376
  • Jul 18, 2021 2:39pm Jul 18, 2021 2:39pm
Quoting Koop
By the way, Any one of you 5ers summer plan guys crossed over to stage 2 yet?
I'm only at like 3.5% but did take an entire week off on that one.
  • #2,377
  • Jul 18, 2021 2:50pm Jul 18, 2021 2:50pm
Do you people realize that only one that list is a legitimately registered prop firm and they don't even trade spot fx. This is astonishing.

I skimmed it quickly but more importantly is why you people are making yourselves so vulnerable and ready for disappointment.

There's a massive amount of self injustice here due to the lack of what trading spot really is.
  • #2,378
  • Jul 18, 2021 2:56pm Jul 18, 2021 2:56pm
Those who decide to go for Myff challenge must remember that your daily DD is calculated on equity AND balance. So if you take a 20k challenge you cannot lose more then $1000 at any time.

With Funding Talent and FTMO, if you make say 1% on the day, you can lose 6% and still be OK on the day. That is actually a very big benefit which is why I prefer FT

Had I gone for Myff I would have been knocked out already.
  • #2,379
  • Jul 18, 2021 3:10pm Jul 18, 2021 3:10pm
Quoting Mtinifx
Those who decide to go for Myff challenge must remember that your daily DD is calculated on equity AND balance. So if you take a 20k challenge you cannot lose more then $1000 at any time. With Funding Talent and FTMO, if you make say 1% on the day, you can lose 6% and still be OK on the day. That is actually a very big benefit which is why I prefer FT Had I gone for Myff I would have been knocked out already.
Wrong, MFF and FTMO if you make 1%, your daily draw down goes to 6%, asked that many times cause that is how I work
Those who don't believe in magic will never find it
  • #2,380
  • Jul 18, 2021 3:27pm Jul 18, 2021 3:27pm
Quoting PayTheBid
{quote} Wrong, MFF and FTMO if you make 1%, your daily draw down goes to 6%, asked that many times cause that is how I work

You're wrong mate because they knocked me out on that rule when I was trading a 100k rapid account!


Rule #10
In any of the My Forex Funds evaluation programs you must not have a daily drawdown of 5% of equity OR balance on any given day
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