Pride always comes before destruction.... -Proverbs 16:18
DARWINEX ZERO All Time Return:
22.8%
prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} He was referencing that 99% of the prop traders blow out in 3 months or less, not a 99% gain on accounts in 3 months.Ignored
DislikedWas looking for my investor password in the mailbox terminal on Fxchoice for my DT4X account and noticed that there is no registration showing for the new prop account? Am I missing something? The last account showing was one of my demos from March. Hmmmmm. {image}Ignored
Disliked{quote} If they are using a 3rd party service for the dashboard they have to login before you do.. this could be why.Ignored
Disliked{quote} Lol yeah, i see where you're coming from... but this is the problem- A $180k account with 5% max DD has $9000 wiggle room. If you started your personal account with the same $1000 you paid for the $20k accelerated and used exactly the same risk and strategy you would have used on the Accelerated to get your account to the 180k stage, then you would have the same $9000 or more in your Personal account at that stage and would have been keeping 100% percent of your profits.Ignored
Disliked{quote} Dear friend are you going to open a $1000 and increase the balance to $9000 in a couple of months? Wow, if you take a look at some old binned threads in the Trading Journals forum with titles like "$1000 to $100000" and "$100 to a million" - all of them blown! Unfortunately the truth is that trying to even double a 1k account is incredibly difficult. A 10% increase per month is feasible and with max leverage now in the EU and USA at 1:3 it's about all one can hope for. Even if you do manage to do the impossible and double the account in...Ignored
Disliked{quote} Dear friend are you going to open a $1000 and increase the balance to $9000 in a couple of months? Wow, if you take a look at some old binned threads in the Trading Journals forum with titles like "$1000 to $100000" and "$100 to a million" - all of them blown! Unfortunately the truth is that trying to even double a 1k account is incredibly difficult. A 10% increase per month is feasible and with max leverage now in the EU and USA at 1:3 it's about all one can hope for. Even if you do manage to do the impossible and double the account in...Ignored
Disliked{quote} Thanks, Takisd. I also noticed their "account insights" page doesn't show my test trades as it's under maintenance. DT4Xtrader will be #1 very soonIgnored
DislikedGood day Traders MFF accelerator account has no value for traders.......It was just a hype. Why would you pay someone to trade your money and share profit 50/50 I did some calculation on their 50K account You pay $4900 and they only contribute $100 and you get 50K Let say you hit their 20% target and they double your account to 100K That simply mean you made 10K profit and shared 50% of it with MFF which is $5000 That is the 5K they add to your account to move to 100K.....then your risk is 10K on 100K account Do you see you are trading with them...Ignored
Disliked{quote} Although I agree with all of your points on the accelerated model, as I have never been a fan of these type of models, I am having a great experience with MFF and consider them my #1 now, with FTMO #2. They have by far the best eval model with 24K in DD for $949. If you can get in while they run one of the 10% off promos, it's only $855! Just received my 3rd payout, conditions are great, support is awesome, 85% payout from 3rd month on. If you can pas that first month, which MFF will give free retry if you are in any kind of profit OR extend...Ignored
Disliked{quote} Thanks for sharing, 99% last 3 months. Do you think its psychological sabotage or inexperience? Generally a trader with say 10 years experience and solid plan, shouldn't be destroying a prop account in 3 months. So it is all new folks passing challenges and trying their luck?Ignored
Disliked{quote} A lot of people get hyped up but social media, they see the highlighted massive payout interviews on youtube and they jump in without a plan and no risk management strategy. The challenge model also encourages over risking because gaining 8% to 10% in a month under the draw down restrictions is not very common. Some also get lucky and pass when the market is extremely favorable to their system and then the market environment changes & it completely fails... Quite a few BTC & Gold traders that passed on the covid bull runs washed out quickly....Ignored
Disliked{quote} Mtinifx - Hello, please tell me where I can find additional information about - DT4Xtrader. Maybe somewhere else they are discussing this company? They have good conditions. Good luck.Ignored
Disliked{quote} Sorry don't know anything about them. Looked at their webpage and notice that they don't allow trading indices and only offer 10:1 leverage. Give them a miss IMHOIgnored
Disliked{quote} Thats the point i'm trying to make.. It's much easier to make 1k from 20k..... but if you only have $1k of max DD in that account is it really still a $20k account? In terms of risk and margin, the only real difference between a $1000 (1:500) personal account (No DD llimit) and a $20,000 (1:50} MFF accelerated (5% Max DD) is the extra 500k buying power that MFF gives. And if a trader is smart enough to split that $1000 into two personal accounts, that's two $500 personal account at 1:500 each, which gives you a combined leverage of 1:1000...Ignored
Disliked{quote} Mmmm OK! Well thanks so much for the long explanation and I do understand what you're saying however in practice trying to double a $1000 account or two $500 accounts (if you like) using high leverage is a recipe for disaster. I should know! Goodness knows I have tried it so many times! The point is of course that it's so much easier to trade a $20k account then to trade a $500 account. I only have to make a 10% gain with 50:1 whereas you have to make 100% using 500:1 to get to the same level. That is the whole point...Ignored
Disliked{quote} Mmmm OK! Well thanks so much for the long explanation and I do understand what you're saying however in practice trying to double a $1000 account or two $500 accounts (if you like) using high leverage is a recipe for disaster. I should know! Goodness knows I have tried it so many times! The point is of course that it's so much easier to trade a $20k account then to trade a $500 account. I only have to make a 10% gain with 50:1 whereas you have to make 100% using 500:1 to get to the same level. That is the whole point...Ignored
Disliked{quote} A lot of you guys are not reading the account benefits in full. You do NOT have to make 10% to get paid. You only need to make 5%. So let's say you get a $20k account, that means you have to make $1000 profit. Is that so difficult with careful trading?? OK so the next week you do another 5% which means you've made 10% altogether. You have made $1000 profit. Your account goes up to $40k and you have got your intitial stake back. The next week you do 5% and you receive $1000 profit and the next week the same. That's $2000 in two weeks right?...Ignored