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  • #5,181
  • Nov 7, 2021 10:55am Nov 7, 2021 10:55am
Quoting Takisd
{quote}..Some hedge funds have done a 300% year but the return came from 2-3 months max and they usually poop out the next year. That or get indicted for insider trading.
True that.

On another note, I've seen genuine exceptions. I recall a brilliant but unassuming fellow I met sometime ago, who dressed like a "hobo" (no disrespect to him at all), and smokes like a chimney. He advised a couple of really large clients. Seems to me, he trades everything...Bonds, Equities, FX, Energy, Metals, Grains, Softs and Livestock etc etc. He personally managed over 100M almost a decade ago; his month on month was 20%+ at least running a couple of years as at the time I met him. Unfortunately though, those kind of circles are as far away from retail as east is to the west..
  • #5,182
  • Nov 7, 2021 12:02pm Nov 7, 2021 12:02pm
Quoting Thoughts
{quote}I don't know whether to be happy or sad about this; its a potentially the dream of a life time, 08 on steroids, but the real world effects...
Yes, I moved my holdings in my 401K around and getting ready to short the shit out of the indices.
  • #5,183
  • Nov 7, 2021 12:06pm Nov 7, 2021 12:06pm
Quoting Thoughts
{quote}True that. On another note, I've seen genuine exceptions. I recall a brilliant but unassuming fellow I met sometime ago, who dressed like a "hobo" (no disrespect to him at all), and smokes like a chimney. He advised a couple of really large clients. Seems to me, he trades everything...Bonds, Equities, FX, Energy, Metals, Grains, Softs and Livestock etc etc. He personally managed over 100M almost a decade ago; his month on month was 20%+ at least running a couple of years as at the time I met him. Unfortunately though, those kind of...
How did he prove it to you? He was like "heres my bank statement of 20 mill coming into it every month" ?
  • #5,184
  • Nov 7, 2021 12:18pm Nov 7, 2021 12:18pm
Quoting pipmaster77
{quote} Yes, I moved my holdings in my 401K around and getting ready to short the shit out of the indices.
Hmm. Do you see any scenario at all where the reverse happens, and equities do well another 10 years? In your opinion gents, what would that take?
  • #5,185
  • Nov 7, 2021 12:20pm Nov 7, 2021 12:20pm
Quoting Takisd
{quote} How did he prove it to you? He was like "heres my bank statement of 20 mill coming into it every month" ?
I saw his trade statements from a client of his..
  • #5,186
  • Nov 7, 2021 1:45pm Nov 7, 2021 1:45pm
Quoting Vitore
{quote} I tried the similar in the past, my lesson was fx pairs are not so suitable. Definitely not all of them traded by the very same system and same parameters (e.g. NNFX). I achieved best results trading US2000 and US5000, (US30 not so good) as those were better in following the mass psychology. FX pairs are more prone to market makers' manipulations which often deny the principles (at least in my experience) of automated systems. 15 months is not bad but my system usually worked very well over 12-18 months period only to break up on any other...
I like what you're saying. Must say I haven't trading US2000, normally trade US30 but looking at the US2000 charts it looks like it moves nicely.

In my view, and speaking from experience. trading is an incredibly stressful experience. By getting in and out in a reasonably short period of time one keeps the stress level down which translates to being able to last longer in this difficult game. Thus my advice is to trade challenges using the 1 min chart. The big advantage of M1 is that you don't need to set a big SL - usually 2 or 3 pips can suffice, a bit more if you're trading Gold or the Indices. This hopefully cuts down your draw down potential. I'm approaching the challenge now with a zero DD goal. i.e. no DD or hardly any DD at all times. It's the way to go not only for the challenge but also funded stage as well.

I see a few posts pushing MM as all important and it certainly is important on the other hand, I don't agree with only trading low lot sizes at all times. Why on earth trade half a lot when you can safely trade 5 lots in a high momentum situation such as US session last Friday? Tom Hougaard has some great videos on this subject - worth watching

Guys one thing I've learned in this game is make hay while the sun shines! Of course being able identify those times is the important thing but I think a lot of small traders are just trading at the wrong time of the day. A lot of the day is often stop hunting (algorithms) time. For instance, 30 mins to an hour after London open until US open you might as well close your chart and go do something else - like catch up on some needed exercise! Actually, one could only trade US30 or Nasdaq for 1-2 hours a day and make a very good living!

This video is really helpful for Challenge traders:

Inserted Video
  • #5,187
  • Nov 7, 2021 2:30pm Nov 7, 2021 2:30pm
Quoting Mtinifx
{quote} I like what you're saying. Must say I haven't trading US2000, normally trade US30 but looking at the US2000 charts it looks like it moves nicely. In my view, and speaking from experience. trading is an incredibly stressful experience. By getting in and out in a reasonably short period of time one keeps the stress level down which translates to being able to last longer in this difficult game. Thus my advice is to trade challenges using the 1 min chart. The big advantage of M1 is that you don't need to set a big SL - usually 2 or 3 pips can...
You made a great point mentioning the right times to trade. Actually all opening/closing times should be avoided as the whole market rebalances and usually changes trend. One of the promising methods I've came across lately is The Price In Time by Gabriele Fabris. But still needs some adjustments. Doesn't seem to work so well as described. But the general idea he follows seems quite reasonable and worth exploring. He focuses at Frankfurt/London open to define the important zones for the day but I'm sure a similar approach could work for AP or US as well. Especially combined with VWAP and S/D zones
Money is made by sitting, not trading
  • #5,188
  • Nov 7, 2021 4:30pm Nov 7, 2021 4:30pm
All of my trading takes place within the same, 30-minute time block, where there is a LOT of money moving the market. I never trade outside of this window. I trade US100 only. I get in and out of trades as quickly as possible, to minimize exposure to market and mitigate risk. I can be finished with my trading for the day in 15 minutes or less.

This is not a brag, by any means. It is just what I have learned from years of trading, that my strategy works best within this 30-minute window. If I trade outside of this window, I can see that the market moves differently. Different money is moving the market. The market can take on a different personality, and the signals that I use from reading my indicators and market structure can become very weak.

I can even see that different time-frames become more-dominate (or some, less-dominate), as well as support/resistance (and other methods) become more meaningful outside of this window, which can cause a lot of uncertainty in the market, especially as trading volume decreases.

By restricting my trading to this small window, I am able to fully maximize the odds in my favor and ensure maximum consistency and reliability by becoming intimate with how the market moves during this time.

My metatrader is set up to display 4 windows, split vertically, showing all US100, different time-frames. Higher time frames to gauge market direction, and lower time frames for entries and exits etc.. My trading is not adversely effected by news or any other fundamentals.

For anyone that is struggling, I always advocate for simplicity. If you are jumping around from pair to pair, indicator/strategy, time-frames or sessions etc., you are only making things more difficult for yourself.

For what it's worth.
  • #5,189
  • Nov 7, 2021 5:23pm Nov 7, 2021 5:23pm
Quoting Nsak3y
All of my trading takes place within the same, 30-minute time block, where there is a LOT of money moving the market. I never trade outside of this window. I trade US100 only.
Backtesting and optimizing my strategy revealed the same thing. One instrument traded in the same narrow window every day was giving me the best results.
Money is made by sitting, not trading
  • #5,190
  • Nov 7, 2021 7:10pm Nov 7, 2021 7:10pm
Quoting Takisd
I saw an interesting discussion in the MFF discord the other day. Some FT loser was claiming its easy to make 10% per month. Josh at MFF said, its unrealistic to expect 10% per month over a period of 12 months, the guy started getting defensive and accusing Josh of shitting on peoples dreams. Josh said if you can make 10% per month he welcomes it but its unrealistic. The guy spazzed out and got offensive calling Josh a clown to which he got muted. My perspective of the people who are jumping into this prop space is that they are all in all...
Funny for Josh to say that considering that MFF give you 30 days to bang out 66% to pass their challenge.
  • #5,191
  • Nov 7, 2021 7:27pm Nov 7, 2021 7:27pm
Quoting EnoFX
{quote} Funny for Josh to say that considering that MFF give you 30 days to bang out 66% to pass their challenge.

Would you prefer he lie and say everyone can make 100% per day guys its easy?

Just going to edit my comment here to say that your comment is stupid. 30 days to get 66%? What crack you smokin.
  • #5,192
  • Nov 8, 2021 6:22am Nov 8, 2021 6:22am
started the MFF , accelerated program
let see how it goes ..
  • #5,193
  • Edited 7:03am Nov 8, 2021 6:24am | Edited 7:03am
Despite my opinion about the5ers, which has not changed, I decided to fork 50€ on the bootcamp program, just to have some year long fun (if I am not eliminated earlier, of course).
Something I noticed is that the margin required for some pairs is literally absurd.

For example, if I am going to open 0.2 lot CADCHF:
12 * 0.2 * 100000/10 /CADUSD = USD 19292.00

Since the first trial has an initial equity of USD 25000, I will not be able to open any other significant position.

The 12 comes from here:

Attached Image


Fortunately, for most pairs it is only 1.0 though. Why this 12x aggravation for some pairs?

I will post this on the the5ers thread, need to find it (LOL).

BTW, FTMO aggravates some Forex pairs by 3x (much less), but leverage is much higher also so most people will never notice it.
Follow your guts, if you want to lose your money...
  • #5,194
  • Nov 8, 2021 6:27am Nov 8, 2021 6:27am
Quoting ShanA
started the MFF , accelerated program let see how it goes ..
Can you please share the spreads. As I'm not able to find the broker used by MFF and spreads offered by them.
  • #5,195
  • Nov 8, 2021 7:04am Nov 8, 2021 7:04am
Quoting JotaP
Despite my opinion about the5ers, which has not changed, I decided to fork 50€ on the bootcamp program, just to have some year long fun (if I am not eliminated earlier, of course). Something I noticed is that the margin required for some pairs is literally absurd. For example, if I am going to open 0.2 lot CADCHF: 12 * 0.2 * 100000/10 /CADUSD = USD 19292.00 Since the first trial has a initial equity USD 25000, I am not able to open any other significant position. The 12 comes from here: {image} Fortunately, for most pairs it is only 1.0 though....
less liquid pairs tend to have increased margin, crazy slippage bad fills or sometimes not at all lol. and low leverage allows u to notice that like u pointed out, while havin more leverage wouldn t catch the eye of many, true. nontheless, 5%ers offer doesn t look that great, except for target practice.
  • #5,196
  • Nov 8, 2021 7:11am Nov 8, 2021 7:11am
Quoting ShanA
started the MFF , accelerated program let see how it goes ..

Wow, brave man!

Which size account did you go for?
  • #5,197
  • Nov 8, 2021 7:24am Nov 8, 2021 7:24am
Well this is very heartening considering that I hoping to get to that stage soon!
Attached Image
  • #5,198
  • Nov 8, 2021 7:27am Nov 8, 2021 7:27am
Quoting Mtinifx
Well this is very heartening considering that I hoping to get to that stage soon! {image}

This seems fake. True forex funds popped up like 2 weeks ago, and now there is already a payout?
  • #5,199
  • Nov 8, 2021 7:30am Nov 8, 2021 7:30am
Quoting Takisd
{quote} This seems fake. True forex funds popped up like 2 weeks ago, and now there is already a payout?
Goodness, you are a skeptic mate!

Some started their Evaluations a few weeks ago. Their first payout date was 5th November.

Remember that there are no minimum days and bi-weekly payouts

Check over on facebook and their discord channel
  • #5,200
  • Nov 8, 2021 7:32am Nov 8, 2021 7:32am
Quoting Mtinifx
{quote} Goodness, you are a skeptic mate! Some started their Evaluations a few weeks ago. Their first payout date was 5th November. Remember that there are no minimum days and bi-weekly payouts Check over on facebook and their discord channel

My gambly little fingers are twitching.... but the clone stuff is scary.
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