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  • #2,421
  • Jul 19, 2021 9:21am Jul 19, 2021 9:21am
Quoting pipmaster77
{quote} Just like if you're losing 5% in a day, if you're gaining 5% in a day, THE POSITIONS ARE WAY TOO LARGE!!!!!!! Maybe why so many fail these challenges.

I mean, i see people in all the prop chats that are just spinning the gambling wheel so it makes sense. Seeing some guy bitching about holding +4% and going -3% over night and losing on daily. Bruh, you gave up a -7% overall thats so huge..
  • #2,422
  • Jul 19, 2021 9:43am Jul 19, 2021 9:43am
Quoting garfield75
{quote} contact details - https://www.forexfactory.com/thread/...1#post13621251 there is another thread relate to MFF where their customer support team is active in answering any questions - https://www.forexfactory.com/thread/...s-discussionqa time tracking software
I have a similar case, thanks for the link, now I decided to write them a message, if they answer something useful, I'll write it down.
  • #2,423
  • Jul 19, 2021 10:34am Jul 19, 2021 10:34am
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...
Hello Mcquak. You are losing your time here speaking with those SuperHeroes of the markets. They think they are all gonna make it with 10% max DD at 1:100 leverage. Actually, this is what the 95% of losers thinks. The Professional Trader thinks in terms of 3-5 years periods of time, not in terms of weeks.

Plus, they are forgetting that in Lux you can go far beyond trading 10 millions accounts. You have also a track record audited by KPMG. If you are a Professional Trader you know what it means. With a 3-5 Year track record audited by KPMG, with big accounts... lol. You can go wherever you want. Investment Banks, Hedge Funds, (Real) Proprietary Trading Firms, etc.

Question: You are an investor or a financial institution providing capital to Professional Traders. Would you allow to trade 10 millions and beyond with a 10% max DD and 1:100 leverage to a Trader? Let me guess: No. You want Traders with sound risk management that generates consistent profits over time, right? Because the Job of a Trader is to making money without having huge dradowns.... isn't it???

Lux is around till January 2021? Right? They have partnerships with liquidity providers and other financial institutions. They are """""New"""" on the market of prop firms and they are giving you a scaling plan up to 10 million. But you are here complaining this and that. You want to trade other's people money (millions) with your rules. This is so funny.

Risking 0,10/0,20% per trade, with a 4% relative DD you have all the room you need. lol. Yes. It will takes longer. So?

FTMO? Is around from 2014.... max scaling plan? 400k. With which broker works? Who knows.
Oh, don't forget: you trade on a DEMO account. You can't create a good Track Record for your future trading career...

The problem here is.... they want to make money, and they want to do it now. Because they feel the urge to run on social media or to demonstrate to their family how good they are. Seeking approval and get-rich-quick scheme is what actually kills the 95% of traders.

Good luck
  • #2,424
  • Jul 19, 2021 11:48am Jul 19, 2021 11:48am
Quoting doji
It means the 4% DD is computed from your highest account balance, not from your initial capital. So if you're trading the 5k account and you gained $200, your allowed DD would be: 5200 X .04= $208. Therefore, your account can't go below $4992. Their dashboard will show the numbers so no need to do your own computation.
So basically my equity curve has to keep going up every time?
  • #2,425
  • Jul 19, 2021 11:56am Jul 19, 2021 11:56am
Quoting doji
It means the 4% DD is computed from your highest account balance, not from your initial capital. So if you're trading the 5k account and you gained $200, your allowed DD would be: 5200 X .04= $208. Therefore, your account can't go below $4992. Their dashboard will show the numbers so no need to do your own computation.
So relative DD its better than having a fixed DD? Because lets say I have a live account of 50k, and I go to 53k, my relative DD is now 2120 instead of 2000?
  • #2,426
  • Jul 19, 2021 12:18pm Jul 19, 2021 12:18pm
Quoting pipmaster77
{quote} Just like if you're losing 5% in a day, if you're gaining 5% in a day, THE POSITIONS ARE WAY TOO LARGE!!!!!!! Maybe why so many fail these challenges.
Yes, and it's so easy to add to a losing position when one has so much leverage to play with. On the MyFF rapid accounts one can have 500:1 Tell me that's not a recipe for disaster!

But it's not so bad if one is trading WITH the trend. The problem with the vast majority of RT's is they've been taught to "sell high and buy low". So of course they're constantly trying to buy the bottom or sell the top. That's the main reason we all blow our accounts. Once you start buying high and selling low, hey presto you start winning!
  • #2,427
  • Jul 19, 2021 12:30pm Jul 19, 2021 12:30pm
Quoting Mtinifx
{quote} Yes, and it's so easy to add to a losing position when one has so much leverage to play with. On the MyFF rapid accounts one can have 500:1 Tell me that's not a recipe for disaster! But it's not so bad if one is trading WITH the trend. The problem with the vast majority of RT's is they've been taught to "sell high and buy low". So of course they're constantly trying to buy the bottom or sell the top. That's the main reason we all blow our accounts. Once you start buying high and selling low, hey presto you start winning!...
Problem is, the market is ranging way more often than trending. I trade weekly pivots, so very often selling in an uptrend and buying in a downtrend.
  • #2,428
  • Jul 19, 2021 12:33pm Jul 19, 2021 12:33pm
Quoting pipmaster77
{quote} Problem is, the market is ranging way more often than trending. I trade weekly pivots, so very often selling in an uptrend and buying in a downtrend.
Now today, for example, was all market sentiment and price action. Clearly we are in risk off mode, so sell all XXX/jpy pairs and buy USD except USD/JPY. Just pick your favorite.
  • #2,429
  • Jul 19, 2021 3:01pm Jul 19, 2021 3:01pm
https://fundingtalent.com/announcements/

The One Day Payout Requirement
The following payout requirement takes effect for all Elite members on August 14th at 11:59 PM EST. This means all trades taken August 1st and later will need to follow this guideline in order to withdraw on the 15th of August and onward. The next payout date on August 1st will not be affected by this change. This ultimately affects any new members who sign up from July 19th onward as reflected on the website.
The payout requirement applies only to Funding Talent Elite members who exceed $10K in profits. To be fair and considerate, active Elite or Challenge members who have signed up for Funding Talent and do not have any violations of their account will be eligible for a full refund of their most recent purchase if this payout requirement does not suit them. Any refund requests must be emailed to support by July 20th at 11:59PM EST.
Traders who accumulate half (50%) or more of their total profit amount in one day will not be eligible to withdraw at the next available payout date. For the purpose of this requirement we consider closed trades only. The payout is not denied, but deferred until each day’s profits do not exceed 50% or more of the total profit amount on the account. Once each profitable day remains within the above guidelines, the trader will be eligible to request withdrawal at the next payout date (the 1st or 15th of each month).
For example, we offer payouts on the 1st and 15th of each month. Let’s say a trader begins trading the account on the 1st of the month, and by the 14th they have accumulated $20K in profits. If $10K was earned in one trading day alone, they would not be eligible for payout on the 15th. This is because 50% of profits were made in one day. They would need to keep trading the account until more profits are accumulated, so that $10K would no longer be equivalent to half of the payout. In this case, even one dollar in profit would make them eligible at the next pay period.



If you roll the dice more than once you have a higher probability of losing.
  • #2,430
  • Jul 19, 2021 4:38pm Jul 19, 2021 4:38pm
Quoting Takisd
https://fundingtalent.com/announcements/ The One Day Payout Requirement The following payout requirement takes effect for all Elite members on August 14th at 11:59 PM EST. This means all trades taken August 1st and later will need to follow this guideline in order to withdraw on the 15th of August and onward. The next payout date on August 1st will not be affected by this change. This ultimately affects any new members who sign up from July 19th onward as reflected on the website. The payout requirement applies only to Funding Talent...

Mmmm sounds like they don't want gamblers which I suppose is reasonable.

What worries me a bit is what happens when they get to the stage when they're are paying out more then what they're getting in
  • #2,431
  • Jul 19, 2021 5:11pm Jul 19, 2021 5:11pm
For those of you trading with MFF, what's the commission with their broker?
  • #2,432
  • Jul 19, 2021 5:18pm Jul 19, 2021 5:18pm
Quoting EnoFX
For those of you trading with MFF, what's the commission with their broker?

3$ a lot on fx/metals. nothing on cfd's.
  • #2,433
  • Jul 19, 2021 5:20pm Jul 19, 2021 5:20pm
Quoting Mtinifx
{quote} Mmmm sounds like they don't want gamblers which I suppose is reasonable. What worries me a bit is what happens when they get to the stage when they're are paying out more then what they're getting in

This is ponzi collapsing behavior. What if you shorted dow last night your regular size and made 1000 points, which is normally 1 months of points. They just wont pay you until you make another 1000 points on other trades. Increasing the probability of your failure.
  • #2,434
  • Jul 19, 2021 5:27pm Jul 19, 2021 5:27pm
Quoting Takisd
https://fundingtalent.com/announcements/ The One Day Payout Requirement The following payout requirement takes effect for all Elite members on August 14th at 11:59 PM EST. This means all trades taken August 1st and later will need to follow this guideline in order to withdraw on the 15th of August and onward. The next payout date on August 1st will not be affected by this change. This ultimately affects any new members who sign up from July 19th onward as reflected on the website. The payout requirement applies only to Funding Talent...
What? I can't withdrawal my profit on the day it's due? Highly unlikely I'd ever see this from FTMO or MFF. Just sayin'
  • #2,435
  • Jul 19, 2021 5:29pm Jul 19, 2021 5:29pm
Quoting Takisd
{quote} This is ponzi collapsing behavior. What if you shorted dow last night your regular size and made 1000 points, which is normally 1 months of points. They just wont pay you until you make another 1000 points on other trades. Increasing the probability of your failure.
I'm telling you guys....there are 3 current offerings still in the game in 2 years. I just so happen to trade with all 3.
  • #2,436
  • Jul 19, 2021 6:04pm Jul 19, 2021 6:04pm
Quoting Takisd
{quote} 3$ a lot on fx/metals. nothing on cfd's.
Much appreciated.
  • #2,437
  • Jul 19, 2021 6:07pm Jul 19, 2021 6:07pm
Quoting pipmaster77
{quote} What? I can't withdrawal my profit on the day it's due? Highly unlikely I'd ever see this from FTMO or MFF. Just sayin'
Funding talent announcement second paragraph :
The payout requirement applies only to Funding Talent Elite members who exceed $10K in profits. To be fair and considerate, active Elite or Challenge members who have signed up for Funding Talent and do not have any violations of their account will be eligible for a full refund of their most recent purchase if this payout requirement does not suit them. Any refund requests must be emailed to support by July 20th at 11:59PM EST.

Last Pragraph :


90% Profit Split
The average profitable trader at Funding Talent earns 7.5% per month on average. With this in mind, a profit split of 90% will now be automatically applied to Elite accounts until the member exceeds 10% in profits. Once a member exceeds 10% in profits, the split remains at the current 80% share for all profits made on the account.
Intraday only.
  • #2,438
  • Jul 19, 2021 6:11pm Jul 19, 2021 6:11pm
This is full version of FT new announcement.

Those who are interested MUST read in full and not part :

https://fundingtalent.com/announcements/
Intraday only.
  • #2,439
  • Jul 19, 2021 6:16pm Jul 19, 2021 6:16pm
Quoting Mtinifx
{quote} Mmmm sounds like they don't want gamblers which I suppose is reasonable. What worries me a bit is what happens when they get to the stage when they're are paying out more then what they're getting in
yes, they do not want Gamblers. You assessed correctly. I see this :

For example, we offer payouts on the 1st and 15th of each month. Let’s say a trader begins trading the account on the 1st of the month, and by the 14th they have accumulated $20K in profits. If $10K was earned in one trading day alone, they would not be eligible for payout on the 15th. This is because 50% of profits were made in one day. They would need to keep trading the account until more profits are accumulated, so that $10K would no longer be equivalent to half of the payout. In this case, even one dollar in profit would make them eligible at the next pay period.
Intraday only.
  • #2,440
  • Jul 19, 2021 6:23pm Jul 19, 2021 6:23pm
Or you could just say they dont want people who make big money and are willing to pay the small earners. Remember, they have 300k accounts, 10k isnt even 10%. If someone makes 10k they are outright refusing to pay them until they have continued trading, so basically they are taking from a person regardless of gambling or not. If they dont want gamblers, limit lot size or force some other limits. Don't just take earned money away from someone.
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