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  • #8,301
  • May 31, 2022 1:28pm May 31, 2022 1:28pm
Quoting sampat
{quote} Yes for MyFF, FTMO, TrueForexFunds, TFT. No for ThePropTrading, Finovative (Though have not tried but their rules are wierd. you can't have 3 positions with 10 pips difference etc)
Sampat, have you tested Finotive Funding (I guess this is Finovative) or heard anything, good or bad, about them ?
  • #8,302
  • May 31, 2022 1:31pm May 31, 2022 1:31pm
Quoting pipmaster77
{quote} I do it the same way. Avoid any issues whatsoever.
with 2 accounts, one can trade separately.

More than 2 accounts, practically difficult.
Intraday only.
  • #8,303
  • May 31, 2022 1:36pm May 31, 2022 1:36pm
Here is the latest update on discount codes, enjoy.
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  • #8,304
  • May 31, 2022 1:45pm May 31, 2022 1:45pm
Quoting Desbinary
{quote} Hello Doyathink; I trust this post finds you well. If I may humbly record, with due respect, it is my suspicion/belief that the profoundness of your initial, afore-mentioned post is misunderstood/lost in translation. I am unsure as to how you could provide added clarity pertaining to the marvellous solution you presented since, if used holistically in accordance with the robust manner you suggest, traders experiencing this challenge will find relief. It is unfortunate that the loophole you provided, which is quite the brain-wave in my opinion...
Well, I appreciate your appreciation, Desbinary. And your unique eloquence. It always brings a smile, and a curiosity as to how this came to be.

Further, on the original issue:
it may be preferable or needed to include some mid-size trades, too, depending on the policy/company.
It's not always clear what the risk departments have in mind.

Related: Lux, after I passed their first stage, used the variance in lot sizes as one reason to deny me, iirc.
And this was due to the different indices having different minimum sizes... Asian ones had 1 lot minimum, versus .01 for US ones.
The account risk on all trades was similar, though. I didn't object on this point as they had other reasons, too.
They credited some of my trades, and told me to limit my trading to .1 or .2 lots, which was the majority of my trading, anyway.

Cheers to you, Desbinary, and all.
  • #8,305
  • May 31, 2022 1:51pm May 31, 2022 1:51pm
Quoting Capablanca
{quote} Sampat, have you tested Finotive Funding (I guess this is Finovative) or heard anything, good or bad, about them ?
I have not tried them but have seen sceenshots on their telegram group. They have rule that you can't place order on same script with 10 pips difference plus you can't have more than 3 trades on same pair plus they have same rule like theproptrading (can't have same trades)
But as per some telegram users they pay weekly which is good.
  • #8,306
  • May 31, 2022 3:32pm May 31, 2022 3:32pm
Quoting navk
{quote} with 2 accounts, one can trade separately. More than 2 accounts, practically difficult.
most pairs are fine entering on multiple accounts. US30 is a different story, trades can be hitting TP before I get the entry on the 3rd or 4th broker.
  • #8,307
  • May 31, 2022 4:31pm May 31, 2022 4:31pm
Quoting navk
MFF introduce 300k and 5 k account. 300k account , they want to analyze the risk. However, it will stay until June.
So for about $230-240 (1389 vs 1155) more depending on EUR exchange rate, one gets almost double the DD (36K vs 20K) with MFF vs FTMO. It actually works out to about 50% more earning potential when viewing it as cost per DD, $57.75 per 1K DD (FTMO) vs. $38.58 per 1K DD (MFF).....for those that still think direct funding is a good deal....the 5%ers will only run you $1,093 per 1K DD.
  • #8,308
  • May 31, 2022 4:40pm May 31, 2022 4:40pm
Quoting sampat
{quote} I have not tried them but have seen sceenshots on their telegram group. They have rule that you can't place order on same script with 10 pips difference plus you can't have more than 3 trades on same pair plus they have same rule like theproptrading (can't have same trades) But as per some telegram users they pay weekly which is good.
Sounds like a good prospect for a test. I don't use EAs, the 3 trades doesn't affect me and I don't use to place the same trades in different accounts, when I have them. Weekly payouts is a great thing.
I'm definitely going to investigate further, read FAQs and T&C, as well some reviews.
Thanks !
  • #8,309
  • May 31, 2022 5:05pm May 31, 2022 5:05pm
Quoting Capablanca
{quote} Sounds like a good prospect for a test. I don't use EAs, the 3 trades doesn't affect me and I don't use to place the same trades in different accounts, when I have them. Weekly payouts is a great thing. I'm definitely going to investigate further, read FAQs and T&C, as well some reviews. Thanks !
Another potential https://www.ability.capital/ it is expensive one but since it is audacity more reliable.
  • #8,310
  • May 31, 2022 5:06pm May 31, 2022 5:06pm
Quoting sampat
Yep but probability of passing 3 (200K) is much less than 2 (300K) (if traded separately without copiers) So lot less failed challenges thats what risk means probably.
-Yes.

The same draw-down allowance can already be achieved through account merging up to 300K. So, they may just be using it as an excuse to remove it at the end of June, since it is being presented as a limited-time offer.

Because technically, although the offering is better for traders (cheaper to buy one 300K account than to buy three 100K accounts), it is not better for MFF's profit-potential, since they can charge more for multiple accounts, and, they can increase the failure rate that way.

We will see.
  • #8,311
  • May 31, 2022 6:09pm May 31, 2022 6:09pm
Quoting navk
MFF introduce 300k and 5 k account. 300k account , they want to analyze the risk. However, it will stay until June.
At least this makes sense, it can be assumed that MFF has grown financially and by introducing a $300K account it opens up more options for traders.

Looks like both the $300K and $5K offerings are designed to corner more of the market.

In any case, I think it's a natural progression for MFF.

Let's see,

Masterrmind ..........
Master your Mind then Master your Trades
  • #8,312
  • May 31, 2022 7:35pm May 31, 2022 7:35pm
Quoting TrAndy1
Here is the latest update on discount codes, enjoy. {image}
Many thanks for your efforts here TrAndy1.

Traders will be in a better position to 'judge' between the listed Props.

Great work!

Masterrmind ...........
Master your Mind then Master your Trades
  • #8,313
  • May 31, 2022 8:48pm May 31, 2022 8:48pm
Quoting Masterrmind
{quote} Many thanks for your efforts here TrAndy1. Traders will be in a better position to 'judge' between the listed Props. Great work! Masterrmind ...........
I second that!!!!!
  • #8,314
  • May 31, 2022 9:03pm May 31, 2022 9:03pm
Quoting pipmaster77
{quote} I second that!!!!!
Hopefully, he can add in a column to his previous tables that includes your "cost per $1K DD".

This is very useful.

Masterrmind ............
Master your Mind then Master your Trades
  • #8,315
  • May 31, 2022 11:55pm May 31, 2022 11:55pm
Quoting Masterrmind
{quote} Hopefully, he can add in a column to his previous tables that includes your "cost per $1K DD". This is very useful. Masterrmind ............
The problem with cost per drawdown is its really difficult to use even though it may look good on paper. Let me give you example MyFF gives 12% drawdown and FTMO gives 10% and if somebody is 8% underwater its really difficult recover psychologically. Anything below or equal 100% allowed drawdown is good. In that case E8 is only propfirm is not good as it has 100% of allowed drawdown in phase 1 and 62.5% (highest in phase2 even though they make up with incrementing 1% with each withdrawal up to 14%)
  • #8,316
  • Jun 1, 2022 1:35am Jun 1, 2022 1:35am
Quoting sampat
{quote} The problem with cost per drawdown is its really difficult to use even though it may look good on paper. Let me give you example MyFF gives 12% drawdown and FTMO gives 10% and if somebody is 8% underwater its really difficult recover psychologically. Anything below or equal 100% allowed drawdown is good. In that case E8 is only propfirm...
Yes always plenty to consider.

I see that column as a good starting point, certainly not the determining factor but as I say useful nonetheless provided appropriate comparisons between competing Prop Firm's are being considered.

Then it's a case for the trader to start filling in the blanks.

It's far from a straightforward approach when comparing Prop A to Prop B to Prop C to .... Prop N but we have to use something.

Plenty of traders simply choose Prop Firms based on 2 criteria, the DD and if they pay traders or not.

Masterrmind ............
Master your Mind then Master your Trades
  • #8,317
  • Jun 1, 2022 2:13am Jun 1, 2022 2:13am
Quoting sampat
{quote} Another potential https://www.ability.capital/ it is expensive one but since it is audacity more reliable.
Audacity is a long stablished one. I thought they only had instant funding. I'll have a look at them. Thanks for mentioning it.
  • #8,318
  • Jun 1, 2022 3:50am Jun 1, 2022 3:50am
Probably today's target is done early in London.

I trade only gbpusd.

Asia, I did short and booked profit.

Then the London spike was shorted and booked profit.

No open trade for me now.

Can sleep peacefully.
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Intraday only.
  • #8,319
  • Jun 1, 2022 4:11am Jun 1, 2022 4:11am
Quoting Capablanca
{quote} Sounds like a good prospect for a test. I don't use EAs, the 3 trades doesn't affect me and I don't use to place the same trades in different accounts, when I have them. Weekly payouts is a great thing. I'm definitely going to investigate further, read FAQs and T&C, as well some reviews. Thanks !
Finotive Funding has a specific rule in T&C, besides the 3 limit trades in same instrument that sampat already mentioned:

Quote
8.7.2 In order to protect our capital, traders who have failed funded accounts on 3 or more occasions will be capped to a profit split of 25%, with no scaling options. When all losses have been covered by Finotive Funding’s 75% profit share, the Trader will be reinstated to full profit split and account scaling options.

For the rest they seem pretty much standard and have weekly payouts, provided we have 2 trading days.
  • #8,320
  • Jun 1, 2022 7:01am Jun 1, 2022 7:01am
Quoting sampat
{quote} The problem with cost per drawdown is its really difficult to use even though it may look good on paper. Let me give you example MyFF gives 12% drawdown and FTMO gives 10% and if somebody is 8% underwater its really difficult recover psychologically. Anything below or equal 100% allowed drawdown is good. In that case E8 is only propfirm...
Yes, the only way, IMO, to deal with the psychology of the DD is always adjust your position size to your risk of ruin. In other words, let's say it's 20 trades and you have a 100K with 10% DD (for sake of simplicity). Initially you risk $500 per trade (20 x $500). If you lose, say 3K, you now take that 20 trade risk of ruin with 7K DD, so position size is adjusted to only risk $350 per trade. Of course, once it is beyond a certain point, those trades do become so small it is still tough to recover. However, with a decent system and adjusting IMMEDIATELY after a couple of losses, DD shouldn't become to ridiculous to overcome. You also increase size as you book profit, but need to be mindful of daily DD when doing so. I personally do not scale the same way in profit as I do when recovering from DD.
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