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  • #6,461
  • Jan 29, 2022 5:53pm Jan 29, 2022 5:53pm
Would be curious if they have changed their opinion about scalpers.
  • #6,462
  • Jan 30, 2022 7:01am Jan 30, 2022 7:01am
Just wanted to give some info on the new 14 day extension with FTMO. I'm currently in a challenge and I'm at 5%, the extend button will appear in your Metrix section 28 days into your challenge, if your at 5% or above and haven't broken any other rules you can just extend your challenge 14 days.


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  • #6,463
  • Jan 30, 2022 7:31am Jan 30, 2022 7:31am
Quoting Capablanca
As promised, I’m sharing my experience with True Forex where I got my first payout (4 figures low). I had a couple of challenges. Credentials for phase 1 are very fast upon payment (about 15 minutes). After passing phase 1 the login credentials for phase 2 come automatically, although not immediately. I think it took one day, which is not bad. After phase 2 an automatic email is sent asking the usual docs for funded accounts (ID and address proof). A selfie with the ID doc is also requested. The trader agreement has to be printed in paper, signed...
A very informative post Capablanca.

Thank you for sharing your experiences here.

A great example for others to follow.

Nice work,

Masterrmind .........
Master your Mind then Master your Trades
  • #6,464
  • Jan 30, 2022 7:36am Jan 30, 2022 7:36am
Interesting video with Funded Trading Plus client in the USA about how she trades and why she chose Funded Trading Plus, a UK firm.
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every Saint has a past. Every Sinner has a Future
  • #6,465
  • Jan 30, 2022 9:54am Jan 30, 2022 9:54am
Quoting MoxFulder
Just wanted to give some info on the new 14 day extension with FTMO. I'm currently in a challenge and I'm at 5%, the extend button will appear in your Metrix section 28 days into your challenge, if your at 5% or above and haven't broken any other rules you can just extend your challenge 14 days. {image}
if at the end of the extension you are still below the goal, then what? Free restart?
  • #6,466
  • Jan 30, 2022 11:30am Jan 30, 2022 11:30am
They have send prop trading in another level BIG like for them: https://www.traderscentral.com/products/funding
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  • #6,467
  • Jan 30, 2022 11:52am Jan 30, 2022 11:52am
Quoting Nsak3y
Would be curious if they have changed their opinion about scalpers.
Good question. I only do 1 to 3 trades a day.
Spreads are definitely very good in TrueForex but would a commission of 7 USD per lot be viable for scalping ? I don't have experience on that.
  • #6,468
  • Jan 30, 2022 12:01pm Jan 30, 2022 12:01pm
Quoting mizi123
They have send prop trading in another level BIG like for them: https://www.traderscentral.com/products/funding https://www.youtube.com/watch?v=JKJCpsyXZMA

We discussed that change of rules some days ago here:
https://www.forexfactory.com/thread/...9#post13873219
The change of rules happened last year after they had very bad reviews for refusing to fund traders discretionary.

It's worth to note that in in Traders Central we can only have one challenge at a time.
  • #6,469
  • Jan 30, 2022 2:04pm Jan 30, 2022 2:04pm
Quoting doyathink
{quote} if at the end of the extension you are still below the goal, then what? Free restart?
Yes, free restart as long as no drawdow rules are broken. I think you can only use the extension ONE time per challenge.
  • #6,470
  • Jan 30, 2022 2:41pm Jan 30, 2022 2:41pm
nice.
good to hear they are stepping up that part of their offering.
  • #6,471
  • Jan 30, 2022 3:49pm Jan 30, 2022 3:49pm
Quoting Capablanca
{quote} Good question. I only do 1 to 3 trades a day. Spreads are definitely very good in TrueForex but would a commission of 7 USD per lot be viable for scalping ? I don't have experience on that.
What is the real actual difference between say 5$ commission vs 7$?

To simplify, 0.2 pip!

Does that much will make or break a scalping approach?
If not talking about manic high frequency scalping, then the answer is no, it won't.

If anything, focus on the spread when scalping, there are often a lot more difference between the offers there!!
there is always, always another trade!!
  • #6,472
  • Jan 30, 2022 5:31pm Jan 30, 2022 5:31pm
Just started a re-try at MFF... the first server I was on was TradersGlobalGroup-Demo2. This one is TradersGlobalGroup-Demo. This one has one digit on US30, Nas, etc. and slightly wider spreads on all instruments, at first examination. Does anyone have any experience on this? I am thinking I should ask to be on Demo2 again...

my stoplosses are very tight in general, and many trades, so this could really add up...
  • #6,473
  • Jan 30, 2022 7:20pm Jan 30, 2022 7:20pm
Quoting Capablanca
{quote} Good question. I only do 1 to 3 trades a day. Spreads are definitely very good in TrueForex but would a commission of 7 USD per lot be viable for scalping ? I don't have experience on that.
-Are their commissions for indices the same for round-turn?
  • #6,474
  • Jan 31, 2022 2:19am Jan 31, 2022 2:19am
Quoting doyathink
Just started a re-try at MFF... the first server I was on was TradersGlobalGroup-Demo2. This one is TradersGlobalGroup-Demo. This one has one digit on US30, Nas, etc. and slightly wider spreads on all instruments, at first examination. Does anyone have any experience on this? I am thinking I should ask to be on Demo2 again... my stoplosses are very tight in general, and many trades, so this could really add up...
I believe the evaluation stage now mirrors the server for live accounts but obviously doesn't send any orders to market. You experience the same slippage you would live.

Probably better for you because these are the conditions you need to trade once live. I don't think they would move you back to demo, but you can always ask?
  • #6,475
  • Jan 31, 2022 3:38am Jan 31, 2022 3:38am
Hi All

I have read almost every page of this thread and decided to use this platform and this thread in particular to learn exactly what the community wants when it comes to a capital incubation program.

Having run an incubation platform and program for 10yrs I know what works well for me and my partners. One of the questions we got over and over again was can a demo account be used to qualify. I always rejected this because I believe fundamentally in the concept of "skin in the game". With it comes sharpened senses and an intense learning that just doesn't happen without risking something of value.

Over my decade in the allocation game I realise many talented people simply don't have spare cash to risk and trade in a real account. The idea I want to propose and explore is whether people think there is interest in a capital allocation program that allocates capital to qualifiers after a 6 month demo qualifier.

I am against short term rewards for something that has no skin in the game, for me I am prepared to attribute value to a track record of a number months to help give people who are serious, committed and talented an opportunity for a leg up if they don't have the risk capital. There would be no charges, only that the track record be built on a Ditto demo account.

If this resonates with the people on this thread I will write up more details of the money involved and other terms and conditions.
  • #6,476
  • Jan 31, 2022 9:21am Jan 31, 2022 9:21am
Quoting Nsak3y
{quote}-Are their commissions for indices the same for round-turn?
Never traded indices with them, only pairs. Unfortunately I can't see anything regarding commissions, neither in symbols specifications, nor in FAQs.
They mention a free trial but in the trader's portal the free trial option is unavailable for existing customers, so I can't really test that, which would be easy.
I'll let you know if I make any indices with them, although that's really rare.
  • #6,477
  • Jan 31, 2022 12:42pm Jan 31, 2022 12:42pm
Quoting Fagin
{quote} I believe the evaluation stage now mirrors the server for live accounts but obviously doesn't send any orders to market. You experience the same slippage you would live. Probably better for you because these are the conditions you need to trade once live. I don't think they would move you back to demo, but you can always ask?
thanks for that, Fagin...
yes, I decided to carry on as is and make adjustments as needed.
  • #6,478
  • Jan 31, 2022 1:58pm Jan 31, 2022 1:58pm
Quoting ditto.trade
Hi All I have read almost every page of this thread and decided to use this platform and this thread in particular to learn exactly what the community wants when it comes to a capital incubation program. Having run an incubation platform and program for 10yrs I know what works well for me and my partners. One of the questions we got over and over again was can a demo account be used to qualify. I always rejected this because I believe fundamentally in the concept of "skin in the game". With it comes sharpened senses and an intense learning that...
Potentially worth a look depending on your criteria and what you want from the trader. I wasted quite a lot of time with a provider in the UK who promised and never delivered but always wanted a curve fitted trader to their own specifications dreamed up by some quants who didn’t know their arse from their elbow. I’ll not name them as they are still operational and continue selling the dream.

I also think you should be clear if you want discretionary traders whose strategies would be difficult to quantify into a standalone algorithm, scalpers with potentially limited scalability for copy trading, etc or do you want to farm for automated strategies and what proprietary protection/copyright rights would the trader have?

If it’s a genuine reach out for talent and not just another pitch looking to boost MT4 MT5 broker volume then yes I think some might be interested.
  • #6,479
  • Jan 31, 2022 2:48pm Jan 31, 2022 2:48pm
Hi Fagin

All fair comments and questions.

I cofounded RAPA in 2012 and allocated more than $60m to a dozen plus traders who were mixed bag of discretionary and automated.
I cofounded and ran PsyQuation which was sold to Axi and we allocated a lot of dollars to close to 200 traders.

Yes we were also the creators of 2 scoring algorithms which we are very proud of and used a key filters for our programs.

Currently our main offering at Ditto is offering high quality traders with track record and $2m plus AUM an allocation and a place on our copy trading platform.

This time round it's the first time I am also the broker which allows me to customise things more than in the past where I always had to ask the broker to come to the party. As a trader myself for 20+years I have a passion for trading and for nurturing talent. I think all who I have come into contact with in the past will attest to that.

I am starting this journey as a broker with no sales team we are a product lead team. We are not going to try and compete with brokers who have huge marketing budgets and pressure sales teams.

We have a Hub that will accelerate people's ability to grow AUM and I am happy to say we have signed up our first client but I know from the decade plus in the allocation game that there is talent out there who cannot get into the game. You can read my stuff on the internet how I have consistently promoted a meritocracy. Talent should prevail over contacts and sales gimmicks.

I am very sceptical of traders being able to consistently make money but believe it is possible.

I don't care if you are discretionary or automated. If I can create a channel for nurturing this talent so that Ditto's main copy trading platform has a minor league of talent coming through its ranks to step up one day to the major league then we have a win win win situation.
People must realise less than 1% will make it through in my opinion so the failure rate is super high.

For us to provide a client with a demo account with unlimited life is next to nothing, at least now while we are tiny. I am not asking for any money or contribution in the case of demo qualifiers other than the 6 month commitment and a performance hurdle. Will probably be a Sharpe ratio of 1 and a maxDd threshold of 30%, this will be refined but broad brush.

Hope this helps add some colour
  • #6,480
  • Jan 31, 2022 3:18pm Jan 31, 2022 3:18pm
Quoting ditto.trade
Hi Fagin All fair comments and questions. I cofounded RAPA in 2012 and allocated more than $60m to a dozen plus traders who were mixed bag of discretionary and automated. I cofounded and ran PsyQuation which was sold to Axi and we allocated a lot of dollars to close to 200 traders. Yes we were also the creators of 2 scoring algorithms which we are very proud of and used a key filters for our programs. Currently our main offering at Ditto is offering high quality traders with track record and $2m plus AUM an allocation and a place on our copy trading...
Thanks for the additional info and it sounds like an interesting proposition for serious traders, no initial cash incentive from your side and upfront cost from our side certainly is refreshing and I guess you need to make it worthwhile for a 6 month time investment for both parties.

A 6 month commitment is a reasonable timeframe IF the carrot at the other end is worth chasing….
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