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  • #2,801
  • Aug 4, 2021 7:16pm Aug 4, 2021 7:16pm
Quoting EnoFX
FT keeps moving the goalposts pretty much every week. It's almost amusing to see what they'll come up with next. Internet marketers can be creative so I'm sure they'll come up with something impressive.
lot size limitation is next or lower leverage.
  • #2,802
  • Aug 5, 2021 3:07am Aug 5, 2021 3:07am
Quoting Takisd
{quote} Almost everyone i know who makes good profit in prop, trades indicies and gold lol
That's where it seems the big money is made. Why do you think that is? Are they risking more per point? I can't see any obvious differences in it being easier to trade compared to forex so I can only think that they are risking more.
  • #2,803
  • Aug 5, 2021 6:41am Aug 5, 2021 6:41am
Quoting Joey12
{quote} That's where it seems the big money is made. Why do you think that is? Are they risking more per point? I can't see any obvious differences in it being easier to trade compared to forex so I can only think that they are risking more.

Forex doesn't move anymore they generally consist of one average daily range size move and nothing else for the day. Gold and cfd's are still volatile and the pips/points you can get are significantly higher but so is the loss of course.
  • #2,804
  • Aug 5, 2021 7:28am Aug 5, 2021 7:28am
There's another important aspect relevant esp. for day traders and scalpers - the relative cost of trade, i.e. spread + commission compared to the daily ATR. Forex majors cost about 1.1-1.5% but crosses get easy over 2 or even 3%, whereas US30 can be as cheap as 0.4% during NY market, DE30 even about 0.3%, and XAU is typically about 1%
It shows that indices and (partially) gold cost less relative to their potential intraday gains
Money is made by sitting, not trading
  • #2,805
  • Aug 5, 2021 7:51am Aug 5, 2021 7:51am
Quoting Takisd
{quote} Forex doesn't move anymore they generally consist of one average daily range size move and nothing else for the day. Gold and cfd's are still volatile and the pips/points you can get are significantly higher but so is the loss of course.
US30 has big advantage for day trading and scalping - volatility,it moves,but it has also one big potentially dangerous disadvantage - volatility -))
Whether you think you can, or you think you can't,you're right. H.F.
  • #2,806
  • Aug 5, 2021 8:45am Aug 5, 2021 8:45am
Everyone can watch it on Instatraders - BBC THREE - YouTube

You must be quick, in b4 BBC copywrite strike it.

My opinion of the documentary is that the presenter did not know what he was talking about. He thought he was exposing FTMO about the demo accounts, literally all FTMO traders already know this...

Quoting Koop
{quote} "Hi Yavuz, I have recently joined MFF on the Evaluation option. I have to say your communication here and on the Discord channel is very encouraging. I know it is unprofessional and unethical to talk about other prop firms, but there was an ivestigative documentary on Forex trading shown last night on the BBC in the UK. Some organisations were shown in a very bad light. I hasten to add there was no mention of MFF. My question to you is very simple. If I pass the evaluation stages will I actually be trading on a live account? The accusation...
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 20.1%
  • #2,807
  • Aug 5, 2021 11:23am Aug 5, 2021 11:23am
Quoting Phil_GMT
Everyone can watch it on Instatraders - BBC THREE - YouTube You must be quick, in b4 BBC copywrite strike it. My opinion of the documentary is that the presenter did not know what he was talking about. He thought he was exposing FTMO about the demo accounts, literally all FTMO traders already know this... {quote}
Thanks Phil, just seen it. Nothing unexpected.
The Presenter is just really ignorant.
IML have always been sketchy though.
The KB trading educator guy did an okay job handling the FTMO related questions even though he seemed a bit irritated at some of the more confrontational questions.
  • #2,808
  • Aug 5, 2021 12:00pm Aug 5, 2021 12:00pm
Quoting Koop
{quote} Thanks Phil, just seen it. Nothing unexpected. The Presenter is just really ignorant. IML have always been sketchy though. The KB trading educator guy did an okay job handling the FTMO related questions even though he seemed a bit irritated at some of the more confrontational questions.

KB is Daniel savage with a less guttertrash attitude. He basically admits that he is selling a dream in the video and to me comes off really bad
  • #2,809
  • Aug 5, 2021 12:45pm Aug 5, 2021 12:45pm
Hi there everyone. Anyone use topstepfx?? Are they trustable?? They got 30 % discount till 10 August.
  • #2,810
  • Aug 5, 2021 12:48pm Aug 5, 2021 12:48pm
Quoting youngD
Hi there everyone. Anyone use topstepfx?? Are they trustable?? They got 30 % discount till 10 August.
They are a legacy prop firm, their conditions aren't interesting to me but i dont think they are like scammy or anything.
  • #2,811
  • Aug 5, 2021 7:05pm Aug 5, 2021 7:05pm
Quoting Vitore
There's another important aspect relevant esp. for day traders and scalpers - the relative cost of trade, i.e. spread + commission compared to the daily ATR. Forex majors cost about 1.1-1.5% but crosses get easy over 2 or even 3%, whereas US30 can be as cheap as 0.4% during NY market, DE30 even about 0.3%, and XAU is typically about 1% It shows that indices and (partially) gold cost less relative to their potential intraday gains
It depends. As to my observations for quite a time, majors and their respective jpy crosses can do 10x a day, quite often, relative to a stop loss size on 5 min time frame. I am happy with the (meat of the move ) , which gives me 4-5 x . That is also related to the time. One needs to live outside of forex and obviously sleep.
  • #2,812
  • Aug 6, 2021 1:26am Aug 6, 2021 1:26am
Ok i got other question. Which prop firm open account same day?? I used MFF accelerated. Had one withdrawal. Yesterday i lost account cause of DD. I know there will be Tuesday next week before they menage New one this is worst part for me...
  • #2,813
  • Aug 6, 2021 5:52am Aug 6, 2021 5:52am
Quoting Joey12
{quote} That's where it seems the big money is made. Why do you think that is? Are they risking more per point? I can't see any obvious differences in it being easier to trade compared to forex so I can only think that they are risking more.

Here are the differences

Attached Image (click to enlarge)
Click to Enlarge Name: FX VS FUTURES YTD VOLATILITY.jpg Size: 82 KB

Source: Futures Performance (finviz.com)
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 20.1%
  • #2,814
  • Aug 6, 2021 6:01am Aug 6, 2021 6:01am
Quoting youngD
Ok i got other question. Which prop firm open account same day?? I used MFF accelerated. Had one withdrawal. Yesterday i lost account cause of DD. I know there will be Tuesday next week before they menage New one this is worst part for me...
They do account opening on weekends so i would be surprised if its that long since they already have your documents.

Same day is probably only FTMO.
  • #2,815
  • Aug 6, 2021 7:21am Aug 6, 2021 7:21am
Quoting Phil_GMT
{quote} Here are the differences {image} Source: Futures Performance (finviz.com)
This is a good chart for position traders, or just buy-and-hold strategy as it shows the YTD performance (no volume). It has no value for day traders or scalpers (majority of prop firm traders).
Take the Platinum as example - one of the worst performing assets according to this chart, but in reality, it travelled +25% in Q1 and then -25% until today. A lot of movement for many profitable trades. But it's rated low just because overall its price declined by 8% since January
Money is made by sitting, not trading
  • #2,816
  • Aug 6, 2021 7:36am Aug 6, 2021 7:36am
Quoting Takisd
{quote} They do account opening on weekends so i would be surprised if its that long since they already have your documents. Same day is probably only FTMO.
When i Got my Funding talent challenges a month or 2 ago, i received my account details within an hour or 2 of order confirmation by mail.
Don't know if that has changed now with all their new BS

However it seems sonny was asking about direct funding firms/plans, seeing as he just lost his MFF accelerated.
  • #2,817
  • Aug 6, 2021 7:38am Aug 6, 2021 7:38am
Quoting Koop
{quote} When i Got my Funding talent challenges a month or 2 ago, i received my account details within an hour or 2 of order confirmation by mail. Don't know if that has changed now with all their new BS

Mine was about 38 hours for all of them. Phase 2 was faster apart from the disputed one, which I am still waiting for and will never get because of the fine print. Thefundedtrader took 4 days xD
  • #2,818
  • Aug 6, 2021 2:42pm Aug 6, 2021 2:42pm
https://www.forexpeacearmy.com/commu...rm-scam.70762/ xD
  • #2,819
  • Aug 6, 2021 3:09pm Aug 6, 2021 3:09pm
Quoting Takisd
https://www.forexpeacearmy.com/commu...rm-scam.70762/ xD
Lol this is the same guy that made over 200k on his 300k elite account right?

Messy situation. These clowns didn't make provisions for a situation like this? didn't they take notice of what traders were achieving with FTMO? didn't they for once consider that such traders could choose to participate in their own program as well?
Dude needs to go beyond FPA.
I wonder how they plan to wiggle out of this one once and for all..
  • #2,820
  • Aug 6, 2021 3:38pm Aug 6, 2021 3:38pm
Quoting Koop
{quote} Lol this is the same guy that made over 200k on his 300k elite account right? Messy situation. These clowns didn't make provisions for a situation like this? didn't they take notice of what traders were achieving with FTMO? didn't they for once consider that such traders could choose to participate in their own program as well? Dude needs to go beyond FPA. I wonder how they plan to wiggle out of this one once and for all..

The thing that bothers me about FT is the threats. Clearly they threatened him, I know they threatened me. So who else did they threaten? How many people gave in to the threats?

Other than bullshit market conditions, a slow ass feed and lying to court what else did they do? To how many people? I wonder how many people have taken it as far as contacting the regulator and I wonder what impact this will have on prop firms, I suspect that regulation is coming and this model will shift offshore or something. Buckle up folks, its going to be quite the wild ride.
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