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  • #4,561
  • Oct 14, 2021 5:58am Oct 14, 2021 5:58am
Quoting Takisd
Buoytrade I am steering clear of because the guy who runs it is an outright liar. So many things he has said is a load of horse shit that I won't even gamble with that firm.
Could you more specific please?
Thanks in advance.
  • #4,562
  • Oct 14, 2021 6:48am Oct 14, 2021 6:48am
Quoting Takisd
{quote} The copy service is enough for me to say no 20 yrs won't happen. It always ends poorly especially when you are in the EU and don't have an ESMA license and have banked on the fact you are an education company not trading. I think FTMO right now has a lot of pressure to payout because the types of traders in prop right now are only looking for one big score. You can't copy traders like that and you still pay them, so your net is like -50k on that customer. If the market ranges I would expect them to show signs of cracking because the ranges...
Lmao Wow Julya abandoned ship. Maybe Yasmeen next.
Funny how they were all assuring people on discord that FT wasn't a sinking ship.

I don't like the public copy trading thing as well. Doesn't feel right. I hope they completely disassociate it from their Funding arm of business.


One thing I'v noticed about TCF is that they sort of discourage the on boarding of hardcore Degen gamblers in a sensible way.
Unlike the other top dogs, you can't place micro lots if you complete your target before your minimum days elapse. You have to trade exactly the way you started out trading the account up until the end of the 10 minimum days.
You can however cut the average lot size down about 75%.

I think this is something other firms could implement to only absorb serious consistent traders.... Even though I don't like it.
  • #4,563
  • Oct 14, 2021 7:08am Oct 14, 2021 7:08am
Quoting Inception12
I also read somewhere they are establishing a copy service spin off of sorts, presumably from those top top traders they've screened.
Do you happen to remember where you read that Inception? It seems a bit hard to believe that they would make a subsidiary based solely on that due to the risk involved and I haven't been able to read about them doing this anywhere
  • #4,564
  • Oct 14, 2021 7:32am Oct 14, 2021 7:32am
Some good advice given by MFF for funded traders, good advice and suggestions for those who are still in the evaluation stages as well.

1. The best funded traders risk no more than 1% per trade and have a 1:1 or higher R:R.
2. 3% of funded traders lose their money in the first month due to poor risk management (don't be like them).
3. 99% of traders who trade highly leveraged crypto do not reach funded status due to volatility and high trade size.
4. The traders who have remained funded in their second month without breaching the rules have no more than 3% daily drawdown on any given day (sometimes no trade is a good trade).
5. The most profitable traders in percentage return do not trade more than 5 trades in any given day.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,565
  • Oct 14, 2021 8:36am Oct 14, 2021 8:36am
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That would never happen when trading live on a live account with a real live reputable broker.
  • #4,566
  • Oct 14, 2021 8:59am Oct 14, 2021 8:59am
Hello,

Sent my EA to DT4X Traders for approval. Trading only 1 currency is not approved even though i showed a profitable 3 months record.

Just be aware before signing.

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Thanks
"The markets can remain irrational longer than you can remain solv
  • #4,567
  • Oct 14, 2021 9:00am Oct 14, 2021 9:00am
Quoting QAndy
{image} That would never happen when trading live on a live account with a real live reputable broker.
OK, so you trade your personal account and those of us here in the "PROP FIRM HUB" will continue trading with the prop firms. Maybe there is another non prop firm thread you can go save people in. We don't care about the fake trust pilot reviews.
  • #4,568
  • Oct 14, 2021 9:19am Oct 14, 2021 9:19am
Quoting QAndy
{image} That would never happen when trading live on a live account with a real live reputable broker.
1 sec....if he knew that they will use terms in contract as he she claims to just take ur fee money, why would they sign up for another 200k swing acount? and i doubt that s a real comment. there s no proof, a lot of crap been thrown around but no PROOF. i ve never had an issue with FTMO nor others that trade with them that i know of...mastermind should consider banning all these crappy acounts that come here just to mislead or to thro off people without any tangible proof. account statement, emails and so on. i haven t signed up with MFF yet cos they are fairly new, and no solid track record of paying people out etc..but they look promicing if they can keep up with the demand. why on earth would any1 throw money away at a new firm that has no track record (unless for testing purposes) beats me. clearly the traders in here have already placed the red flag on top FT, now screaming wolf it s kinda useless.
  • #4,569
  • Oct 14, 2021 9:26am Oct 14, 2021 9:26am
Can anyone who is funded with MFF confirm if they still doing this? If so its pretty cool as I don't see any other prop firms paying out bonuses.
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Truth is like poetry. And most people f*cking hate poetry.
  • #4,570
  • Oct 14, 2021 9:26am Oct 14, 2021 9:26am
Quoting shyean
Hello, Sent my EA to DT4X Traders for approval. Trading only 1 currency is not approved even though i showed a profitable 3 months record. Just be aware before signing. {image} Thanks
That's ridiculous, you either manage risk or you don't. The number of instruments traded doesn't matter and having multiple pairs or indices certainly doesn't diversify risk because it takes just one trade to blow up. Diversification is for mutual funds, whereas risk management is for prop trading.
  • #4,571
  • Oct 14, 2021 9:39am Oct 14, 2021 9:39am
Quoting Expo33
I've purchased a few of those $68 "one foot in" accounts just because I like to blow things up.
-So, I have been giving this some thought. Maybe some more knowledgeable people can shed some light. Are these 'accelerated' type programs potentially just a scam?

On the surface, there is obvious benefit to having a larger account, where you can make use of more capital in order to get the most out of your money and minimize risk by using less leverage etc.. But what is to stop one of these firms by matching your buy-in, so-to-speak, and just throwing your money into a tiny account with higher leverage, without you knowing? It would like like this:

You pay $50 fee for (fake) $1,000 balance (I'll use $50 instead of $68 to simplify things).
Firm matches your $50 to put in the account (to cover margin call/stop).
Firm offers you anywhere from 2.5X to 50X leverage on your simulated account.
$100 goes into a real account with 200X to 500X leverage.

You take trades, risking reasonable percentage, thinking that you have $1K to work with, $50 draw-down, when in actuality, the real account is only $100, and the firm is trading with larger leverage and taking on more risk without you even knowing. Since the draw-down is 5% on the account, which is completely covered by your buy-in, the firm does not risk anything at all, and actually takes 50% of the profit that you earn, when you could be earning 100% of the profit and doing the exact same thing with a personal account of equal size ($100 in this case).

In order to scale up, you need to earn 5% profit on a 1K account...that is $50. So, same as doubling your account balance on a personal account.

Am I missing something?
  • #4,572
  • Oct 14, 2021 9:42am Oct 14, 2021 9:42am
Clearly a rule that should make your life difficult as trader, when trading with MFF. Just a nonsense rule. And this is no single 'opinion'.
You really want to trade with such a prop firm. Just trade your own personal account, because this prop firm is just garbage with such a stupid rule.

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  • #4,573
  • Oct 14, 2021 9:55am Oct 14, 2021 9:55am
Quoting QAndy
Clearly a rule that should make your life difficult as trader, when trading with MFF. Just a nonsense rule. And this is no single 'opinion'. You really want to trade with such a prop firm. Just trade your own personal account, because this prop firm is just garbage with such a stupid rule. {image} {image} {image}
You're still here? Nobody cares. If you are approaching daily DD, you are clearly risking too much. These people with reviews regarding daily DD mean nothing to me.
  • #4,574
  • Oct 14, 2021 9:58am Oct 14, 2021 9:58am
Quoting QAndy
Clearly a rule that should make your life difficult as trader, when trading with MFF. Just a nonsense rule. And this is no single 'opinion'. You really want to trade with such a prop firm. Just trade your own personal account, because this prop firm is just garbage with such a stupid rule. {image} {image} {image}
Now you're quoting people who broke rules they knowingly signed up for and consequently failed?

Lol I'm not one for cancelling people, but i definitely support eliminating stupidity.

QAnonAndy has to go, MasterrMind.

If he had listened to the more experienced people about FT he wouldn't have turned into this traumatized victim turned senseless saviour he now is.
If all he has to offer is "don't use prop firms at all, trade for yourself", then he has no reason to clog this PROP RELATED thread with more nonsense.
  • #4,575
  • Oct 14, 2021 10:01am Oct 14, 2021 10:01am
Quoting QAndy
Clearly ... stupid
-I do not think that you are going to convince anyone here. It has been made pretty clear where most people stand on this issue. At this point, I question your real motives. Nonetheless, the examples that you have posted are clearly people that messed up by taking on too much risk and/or failed to properly research how the draw-down works.
  • #4,576
  • Oct 14, 2021 10:24am Oct 14, 2021 10:24am
Quoting mrdfx
Can anyone who is funded with MFF confirm if they still doing this? If so its pretty cool as I don't see any other prop firms paying out bonuses. {image}
They are still doing it. I got a phase one bonus payout today from completing the phase two earlier this week.
Trade with confidence, trade without fear.
  • #4,577
  • Oct 14, 2021 11:25am Oct 14, 2021 11:25am
Quoting QAndy
Clearly a rule that should make your life difficult as trader, when trading with MFF. Just a nonsense rule. And this is no single 'opinion'. You really want to trade with such a prop firm. Just trade your own personal account, because this prop firm is just garbage with such a stupid rule. {image} {image} {image}
Funniest part on the last review is "on second day I was more attentive to drawdown so I only came within $67". Max DD in a day should be 1% and then shut 'er down. These people are just flirting with disaster. With the kind of capital these firms provide, it is fairly simple to just grind out 1-1.5% weekly without ever coming near these DD limits. Now, if you just max out FTMO and MFF, what is 80% of 1.5% of a million dollar account? It's 12K per week or $624K per year. What if you could only manage 0.75% per week? or even 0.5%? So, TBH, I just don't get these reviews complaining about daily DD.
  • #4,578
  • Oct 14, 2021 1:06pm Oct 14, 2021 1:06pm
Quoting pipmaster77
{quote} Funniest part on the last review is "on second day I was more attentive to drawdown so I only came within $67". Max DD in a day should be 1% and then shut 'er down. These people are just flirting with disaster. With the kind of capital these firms provide, it is fairly simple to just grind out 1-1.5% weekly without ever coming near these DD limits. Now, if you just max out FTMO and MFF, what is 80% of 1.5% of a million dollar account? It's 12K per week or $624K per year. What if you could only manage 0.75% per week? or even 0.5%? So, TBH,...
It's not even a matter of greed at this point. It's just plain ol' inability to manage risk.
I can't imagine any firm being comfortable handing funds over to someone who loses over 4.5% consecutively/2 days in a row or 9% total and thinks they were "attentive" to drawdown.

If those were the only kind of bad reviews QAnonAndy could find, then i think we're good boys and girls.


BTW Pip, even though the $640k per year (almost minimum) seems mathematically and realistically possible with these great opportunities, for some reason it feels dreamy lol... I try not to even think about it.
  • #4,579
  • Oct 14, 2021 1:25pm Oct 14, 2021 1:25pm
Quoting Koop
{quote} It's not even a matter of greed at this point. It's just plain ol' inability to manage risk. I can't imagine any firm being comfortable handing funds over to someone who loses over 4.5% consecutively/2 days in a row or 9% total and thinks they were "attentive" to drawdown. If those were the only kind of bad reviews QAnonAndy could find, then i think we're good boys and girls. BTW Pip, even though the $640k per year (almost minimum) seems mathematically and realistically possible with these great opportunities, for some reason it feels dreamy...
It is dreamy, lol. They are just numbers, of course, one must execute. I use those numbers as I feel they are pretty realistic goals while still keeping DD low enough where you don't even concern yourself with "how close" you are to the limit.
  • #4,580
  • Edited 2:28pm Oct 14, 2021 2:07pm | Edited 2:28pm
There is an announcement in Discord regarding payments from MFF in the future.

Be aware.

" Our TrustPilot page is currently under attack by people saying that we don't pay to our customers and we are under investigation from Ontarios Securities Commission. I would like to take a moment to laugh and move on to more important things like giving value to traders community. We will be announcing an even greater option of payouts for all of you shortly. With Deel - you can withdraw via paypal, wise, revolut, mercury, payoneer etc As always, have a great day, don't mind the paid/scam reviews. We are here to stay and become the number 1 prop firm in this industry! PS: Official announcement will be more in depth."
Intraday only.
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