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  • #4,741
  • Oct 22, 2021 9:43am Oct 22, 2021 9:43am
Quoting Cryptosurf
Come on man, it's a degen gambler's wet dream!
-Pretty much. You can pass your one-step evaluation, get funded and initiate a withdrawal, all in the same day.
  • #4,742
  • Oct 22, 2021 9:58am Oct 22, 2021 9:58am
Quoting Takisd
{quote} 8cap.. xD "WE GOT TIRED OF TRADERS LOSING IN 2 STEP EVALUATION PROGARMS" and uses 8 cap.. yes.. they prefer you to lose in 1 step programs.
Weird, The Funded Academy have been planning a gradual breakaway from TCF and recently just announced that they'll be going with EightCap as their broker when they make the shift.
Who the hell is EightCap and why won't these guys go for the better/well known options? I don't like Buoytrade but at least they were sensible enough to go with Global Prime, Lux too i think.

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  • #4,743
  • Oct 22, 2021 10:21am Oct 22, 2021 10:21am
Quoting Koop
The Funded Academy have been planning a gradual breakaway from TCF and recently just announced that they'll be going with EightCap as their broker when they make the shift.
-It seems that the new broker offerings may only be available for the extended program. Maybe migrating all existing Aggressive accounts would be too troublesome. Is eightcap a financial backer as well? If not, I wonder who is going to be backing the extended programs if Traders Central will not be.
  • #4,744
  • Oct 22, 2021 11:06am Oct 22, 2021 11:06am
Quoting Nsak3y
{quote}-It seems that the new broker offerings may only be available for the extended program. Maybe migrating all existing Aggressive accounts would be too troublesome. Is eightcap a financial backer as well? If not, I wonder who is going to be backing the extended programs if Traders Central will not be.
Yeah, from what i read, they intend to maintain their challenge program still White labeling TCF for now. The extended program is touted to be something more attractive. Probably another Direct funding scheme.

Regarding Backers, i believe they intend to follow in the steps of Buoytrade. Save up as much as possible from the percentages FTMO paid them overtime, then started their independent program on a very small scale, only offering account sizes no larger than 10k.

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Btw they also have a direct funding program with a somewhat attractive scaling plan. Account doubled every time you hit 5%, so long as you leave profits in.
Would require patience i don't have though, as one would have to start from between $1k-$4k.
  • #4,745
  • Oct 22, 2021 11:22am Oct 22, 2021 11:22am
I see. Thanks for the info.

The problem with those direct funding, accelerated type programs where the buy-in fee matches the draw-down, is that you never really know if you are being given a large account to trade with.

They could secretly match your buy-in fee with the same amount of funds, and put the combined funds into an account that has a lot more leverage (notice how the leverage on such accounts is always smaller?). Matching your buy-in creates a buffer so that your funds are fully exposed in case of margin call/close, but also fully protects their funds from exposure, creating the illusion of a larger account balance.

So, zero risk to them, yet you are giving them half of your profits while not actually benefiting much more than you would if you were trading your own, personal account.
  • #4,746
  • Oct 22, 2021 11:23am Oct 22, 2021 11:23am
Don't know anything about that Ment Funding shop but not having max days could be a serious advantage over competition.
  • #4,747
  • Oct 22, 2021 11:27am Oct 22, 2021 11:27am
Quoting Nsak3y
I see. Thanks for the info. The problem with those direct funding, accelerated type programs where the buy-in fee matches the draw-down, is that you never really know if you are being given a large account to trade with. They could secretly match your buy-in fee with the same amount of funds, and put the combined funds into an account that has a lot more leverage (notice how the leverage on such accounts is always smaller?). Matching your buy-in creates a buffer so that your funds are fully exposed in case of margin call/close, but also fully protects...
I haven't chimed in on this subject for awhile, as I do not like the arguments that arise, but those models are completely useless. Either do a challenge and get 20x the DD for your fee or put the money in a personal account and don't give up 50% for absolutely no benefit to yourself. Just my mathematically verified opinion lol.
  • #4,748
  • Oct 22, 2021 11:35am Oct 22, 2021 11:35am
Quoting JotaP
{quote} I know when EAs can work (sometimes), I developed a few. Someday, I will develop a consistently profitable one (may be). Muhammedfx, you are a transparent man, that are showing your trade explorers, nothing to hide. I appreciate your honesty. I do it as well, only testing 14-day FTMO challenge trials. All profitable, 2 of 3 passed, no EAs.
Now you decide they work or not
  • #4,749
  • Oct 22, 2021 11:36am Oct 22, 2021 11:36am
Quoting Nsak3y
I see. Thanks for the info. The problem with those direct funding, accelerated type programs where the buy-in fee matches the draw-down, is that you never really know if you are being given a large account to trade with. They could secretly match your buy-in fee with the same amount of funds, and put the combined funds into an account that has a lot more leverage (notice how the leverage on such accounts is always smaller?). Matching your buy-in creates a buffer so that your funds are fully exposed in case of margin call/close, but also fully protects...
Totally correct. No direct funding offer seems worth it or even comparable to a regular evaluation account. Just a sneaky play on words and numbers.
DT4X has the best DF conditions and don't even come any where close.

IMO - Evaluation Account >> Personal accounts >> DT4X Direct funding >> All other Direct funding programs
  • #4,750
  • Oct 22, 2021 11:40am Oct 22, 2021 11:40am
Quoting Koop
{quote} Totally correct. No direct funding offer seems worth it or even comparable to a regular evaluation account. Just a sneaky play on words and numbers. DT4X has the best DF conditions and don't even come any where close. IMO - Evaluation Account >> Personal accounts >> DT4X Direct funding >> All other Direct funding programs
That is an absolute perfect ranking Koop. 100% agree. Although, as Expo found out DT4X is a bit sneaky in their scaling. Basically, to sum it up in one sentence, unless you are doing an eval/challenge, you really don't need a prop firm.
  • #4,751
  • Oct 22, 2021 11:49am Oct 22, 2021 11:49am
Quoting mizi123
{quote} Now you decide they work or not
In general they don't, mostly they follow indicator algorithms and the markets don't follow indicator algorithms. They may work for a while though, and in particular Martingale based EAs, may be very profitable until they blow the account while you are sleeping.
There is a high traffic Telegram group for cracked EAs, thousands of messages a day, thousands of suggested EAs, thousands of blown up accounts reported.
Follow your guts, if you want to lose your money...
  • #4,752
  • Oct 22, 2021 11:58am Oct 22, 2021 11:58am
Quoting JotaP
{quote} In general they don't, mostly they follow indicator algorithms and the markets don't follow indicator algorithms. They may work for a while though, and in particular Martingale based EAs, may be very profitable until they blow the account while you are sleeping. There is a high traffic Telegram group for cracked EAs, thousands of messages a day, thousands of suggested EAs, thousands of blown up accounts reported.
Kapishi, so young and smart man
  • #4,753
  • Oct 22, 2021 12:01pm Oct 22, 2021 12:01pm
Quoting JotaP
{quote} In general they don't, mostly they follow indicator algorithms and the markets don't follow indicator algorithms. They may work for a while though, and in particular Martingale based EAs, may be very profitable until they blow the account while you are sleeping. There is a high traffic Telegram group for cracked EAs, thousands of messages a day, thousands of suggested EAs, thousands of blown up accounts reported.
Few work's good, don't forget you have sell signal here
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  • #4,754
  • Oct 22, 2021 12:10pm Oct 22, 2021 12:10pm
Quoting mizi123
{quote} Few work's good, don't forget you have sell signal here {image}
CAD/JPY will follow Oil prices. Oil high, CAD high Yen low. Use the brain and drop indicators, they can't guess anything.
Follow your guts, if you want to lose your money...
  • #4,755
  • Oct 22, 2021 12:21pm Oct 22, 2021 12:21pm
Quoting mizi123
{quote} Few work's good, don't forget you have sell signal here {image}
i actually shorted EJ and CJ today, took a loss on Gold but according to plan so can t dwell on that, was stalking also UC for a long but i gave up on that as it was close to London fix, altho worked out great.nice week.
EDIT> the TVIEW arroows mark the buy and sell, partials 2, US30 nice setup for a short but 2 late on friday
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  • #4,756
  • Oct 22, 2021 1:07pm Oct 22, 2021 1:07pm
Quoting 1odi
{quote} i actually shorted EJ and CJ today, took a loss on Gold but according to plan so can t dwell on that, was stalking also UC for a long but i gave up on that as it was close to London fix, altho worked out great.nice week. EDIT> the TVIEW arroows mark the buy and sell, partials 2, US30 nice setup for a short but 2 late on friday {image} {image} {image} {image}
Good trades.
Took a CadJpy short too to close the week. Later entry than yours, around 92.21 or there about, got out for about 40pips.

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Should finish up this testing phase with TCF by next week. 14th Nov should be first pay day, The Moment of truth.
It's a 10k account so i believe they should have no problem.
I will consider getting the 100k account with any profits gained...... if i don't go Expo on the account soon though lol
  • #4,757
  • Oct 22, 2021 1:23pm Oct 22, 2021 1:23pm
Hi All - since this thread is about prop firms, wanted to share my post about fxReports software. Using this software you can setup your own FTMO-like forex trading challenge on your own website - frequently asked questions (fightforex.info) Please give it a try. Hope you will like it.
  • #4,758
  • Oct 22, 2021 1:24pm Oct 22, 2021 1:24pm
Quoting Koop
{quote} Good trades. Took a CadJpy short too to close the week. Later entry than yours, around 92.21 or there about, got out for about 40pips. {image} Should finish up this testing phase with TCF by next week. 14th Nov should be first pay day, The Moment of truth. It's a 10k account so i believe they should have no problem. I will consider getting the 100k account with any profits gained...... if i don't go Expo on the account soon though lol
what i do is first few days or first week of every month try to build a cushion of 2 or 3% risking only 0.5% per trade. once i do that i ll risk 1% per trade. if i go back to the initial balance in case of a losing streek, i go back to risking 0.5% and try to build up that cushion again. there s no point to go all in. imho most system of trading aproach are winners in the long run, but our mentality and psichology is what kills us as traders. also risk vs reward paramount imo so u won t have to be right 90% of the time to make money. i personally had a very tough time accepting i was wrong and the market was right, so now i take the loss and forget about knowing that ussually by the end of the week i ll be in profit or BE( which is also a win for me).
  • #4,759
  • Oct 22, 2021 1:51pm Oct 22, 2021 1:51pm
Quoting 1odi
{quote} what i do is first few days or first week of every month try to build a cushion of 2 or 3% risking only 0.5% per trade. once i do that i ll risk 1% per trade. if i go back to the initial balance in case of a losing streek, i go back to risking 0.5% and try to build up that cushion again. there s no point to go all in. imho most system of trading aproach are winners in the long run, but our mentality and psichology is what kills us as traders. also risk vs reward paramount imo so u won t have to be right 90% of the time to make money. i personally...
Great MM strategy. I have expressed many times the risk per trade must be based on allowed loss. So, of course, in a personal account, it's the entire account. So with a risk of ruin of say, 20 losers in a row, you can risk 5%. With the prop firm, it must be 5% of the 10-12% allowed DD, so 0.5% is dead on. Once you're playing with the markets money, you can be more aggressive. Great approach.
  • #4,760
  • Oct 22, 2021 2:42pm Oct 22, 2021 2:42pm
Quoting pipmaster77
{quote} Great MM strategy. I have expressed many times the risk per trade must be based on allowed loss. So, of course, in a personal account, it's the entire account. So with a risk of ruin of say, 20 losers in a row, you can risk 5%. With the prop firm, it must be 5% of the 10-12% allowed DD, so 0.5% is dead on. Once you're playing with the markets money, you can be more aggressive. Great approach.
Quoting 1odi
{quote} what i do is first few days or first week of every month try to build a cushion of 2 or 3% risking only 0.5% per trade. once i do that i ll risk 1% per trade. if i go back to the initial balance in case of a losing streek, i go back to risking 0.5% and try to build up that cushion again. there s no point to go all in. imho most system of trading aproach are winners in the long run, but our mentality and psichology is what kills us as traders. also risk vs reward paramount imo so u won t have to be right 90% of the time to make money. i personally...

Yes!

Best way to approach it.

This way, you have only 3 possible outcomes (provided your system has a proven positive expectancy) --

1. Pass the challenge..

2. Run out of Time in profit and get a free retry..

And the worst possible outcome if the strategy is straight ass or the market conditions are just not favourable

3. Run out of time in small or deep Drawdown

Absolutely no reason to breach Daily DD managing the risk in this manner.
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