Prop Firm Hub | Page 480 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #9,581
  • Jul 28, 2022 2:39am Jul 28, 2022 2:39am
Quoting Bizziebee
Funded Next change rule on 15% profit share : Update : From now on, to receive the 15% profit sharing from phase 1 and phase 2, traders will have to make at least 5% account growth in the funded account. The trader may use as many payout cycles as necessary to reach the 5% account growth target. Some bad actors have been making the 15% bonus the whole point of taking the challenge, taking on numerous challenges just to reach the real phase, taking a few small trades, staying inactive for the rest of the days, and waiting till the first payout date...
math.exe has stopped working for me. if this 'bad actor' loses only one challenge they need 7 successful ones to make up for the loss if they only do it for the 15% bonus. so i call bs.
  • #9,582
  • Jul 28, 2022 2:57am Jul 28, 2022 2:57am
Hello
FundedNext Clients. Do you face any problems with their platform connection ?
I really need your review on this point before joining.

thanks..
  • #9,583
  • Jul 28, 2022 4:06am Jul 28, 2022 4:06am
Quoting CableJ
@Takisd Off topic broker question... With larger retail brokers (Tickmill, icmarkets, Gain, Oanda ect) that have direct bilateral credit agreements with banks via their PBs, can they set up a custom aggregated feed pricing in larger sizes for a customer that does 300M-600m in FX volume per month.

none cos 300m-600m is not high volume. They can do a custom feed if you have flow history with them but nothing at liquidity level. They can just fill your book for you and offset the risk another way. Tickmill is the more likely to do it. Gain and Oanda do not have proper depth in their feed its all smoothed for their dealing. ICMarkets might try to give you a custom pool but its more down to your history than doing it up front.

Any bank will take your flow if its not toxic and they will give you size if its not toxic. Usually if someone has big size and not toxic they pull the trade into pieces and hedge it as a single currency and push it into broker pool feeds to lower retail spreads and get both sides of the transactional cost.
  • #9,584
  • Jul 28, 2022 6:29am Jul 28, 2022 6:29am
Quoting muir
{quote} math.exe has stopped working for me. if this 'bad actor' loses only one challenge they need 7 successful ones to make up for the loss if they only do it for the 15% bonus. so i call bs.
On a 100K challenge, if they are paying 15% on a 10% target (10K), they are paying $1500. If the challenge cost $500, they will actually profit if they are passing at better than 1 in 3. Your math is correct if they are paying back 15% of the "fee", but I believe it is 15% of the profit generated. I haven't had enough interest as of yet to give them more than a glance, but pretty confident i what I am stating here.
  • #9,585
  • Jul 28, 2022 11:14am Jul 28, 2022 11:14am
Quoting pipmaster77
{quote} On a 100K challenge, if they are paying 15% on a 10% target (10K), they are paying $1500. If the challenge cost $500, they will actually profit if they are passing at better than 1 in 3. Your math is correct if they are paying back 15% of the "fee", but I believe it is 15% of the profit generated. I haven't had enough interest as of yet to give them more than a glance, but pretty confident i what I am stating here.
You may be right here, as is apparent neither have i looked into it in detail.

To more interest for the thread, i have ran a company check on TFF. They really do exist in Hungary under reg.num. 08-09-033732 since 10-14-2021. The owner/director is a Hungarian woman: this is good, since with these props and forex firms i often see foreign nationals registered in different countries and it just gives a "fortune hunter" vibe. Their website and email address is also registered with the Hungarian courts which is a big plus since it is just a recommendation: they didn't have to do that, but it shows a little more interest in maintaining the site and email addresses.

Last official employee count as of 06-01-2022 is 11, in 2021 their net income was 151.5 million HUF (380k USD). (Bear in mind that it's for 2.5 months only.)

So they seem as a legit, operational company so far.
  • #9,586
  • Jul 28, 2022 1:00pm Jul 28, 2022 1:00pm
Quoting Feelas
Hello FundedNext Clients. Do you face any problems with their platform connection ? I really need your review on this point before joining. thanks..
I have done 15k challenge and had no problems with the feed. Platform did not freeze even when FOMC yesterday
  • #9,587
  • Jul 28, 2022 4:16pm Jul 28, 2022 4:16pm
Quoting simjo
Does anyone have experience with this? https://fidelcrest.com/programs/prot...rading-program numbers looks good
I still think the FTMO are the best you can repeat the test if you finish positive even without hitting the target, you can get extention of two weeks if you finish in a profit >=5%, by the way I would like to ask you a question, I would like to backtest in forex tester the strategy of selfcontrol and princecharm is it worthed?, and if so would you be interested if I share with you the results? thanks
  • #9,588
  • Jul 29, 2022 4:43am Jul 29, 2022 4:43am
Quoting benadil
{quote} I still think the FTMO are the best you can repeat the test if you finish positive even without hitting the target, you can get extention of two weeks if you finish in a profit >=5%, by the way I would like to ask you a question, I would like to backtest in forex tester the strategy of selfcontrol and princecharm is it worthed?, and if so would you be interested if I share with you the results? thanks
What FTMO offers, Myforexfunds also offers, and even better. MFF ' extension does not require you to finish in profit >=5%. And MFF costs much less than FMTO.
  • #9,589
  • Jul 29, 2022 4:50am Jul 29, 2022 4:50am
Quoting wmwmw
{quote} What FTMO offers, Myforexfunds also offers, and even better. MFF ' extension does not require you to finish in profit >=5%. And MFF costs much less than FMTO.
but lets say you took 10 tets in ftmo and all the time you end up with a positive profit even 0.0000000000000000000000001dollar you can retake the test 10 times if you like, this feature is not available in other prop firms
  • #9,590
  • Jul 29, 2022 4:56am Jul 29, 2022 4:56am
Quoting benadil
{quote} but lets say you took 10 tets in ftmo and all the time you end up with a positive profit even 0.0000000000000000000000001dollar you can retake the test 10 times if you like, this feature is not available in other prop firms
That is not true. With myforexfunds you can also retake the challenges if in positive profit.
  • #9,591
  • Jul 29, 2022 5:39am Jul 29, 2022 5:39am
Quoting uiox2
{quote} That is not true. With myforexfunds you can also retake the challenges if in positive profit.
checked the rules apologies yes they have changed the rule they used to allow only one free repeat, still a major issue is the way they count the draw down they count it from the pick of your equity not from your initial balance like ftmo does.
  • #9,592
  • Jul 29, 2022 5:55am Jul 29, 2022 5:55am
Quoting benadil
{quote} checked the rules apologies yes they have changed the rule they used to allow only one free repeat, still a major issue is the way they count the draw down they count it from the pick of your equity not from your initial balance like ftmo does.
Everything you said is wrong.
1.MFF allows unlimited retakes from beginning, when FTMO still did not allow.It was FTMO who changed rules later, not MFF.
2. What you said in your second sentence is a trailing drawdown. Both MFF and FTMO have fixed drawdown.
Only firms like topsteptrader have trailing drawdown.
So what you said about MFF is completely wrong.
  • #9,593
  • Jul 29, 2022 7:23am Jul 29, 2022 7:23am
Quoting wmwmw
{quote} Everything you said is wrong. 1.MFF allows unlimited retakes from beginning, when FTMO still did not allow.It was FTMO who changed rules later, not MFF. 2. What you said in your second sentence is a trailing drawdown. Both MFF and FTMO have fixed drawdown. Only firms like topsteptrader have trailing drawdown. So what you said about MFF is completely wrong.
ok here is the rule of the draw down in MFF

12% Overall Drawdown

Your FOREX trading account must not go down by 12% (realized/unrealized) to balance or equity.
Always remember:
Drawdown % = [1 - (lowest equity or balance for the day) / (starting equity or balance for the day) ] X 100


5% Daily Drawdown

You must not have a 5% drawdown based on your balance or equity (whichever is higher) on your FOREX trading account within a 24 hour period starting at 5pm EST.

FTMO draw down rules

This rule can also be called “account stop-loss”. The equity of the trading account must not, at any moment during the account duration, decline below 90% of the initial account balance. For the FTMO Challenge with a balance of $100,000, it means that the account lowest possible equity can be $90,000. Again, this is a sum of both closed and open positions (account equity, not balance). The logic of the calculation is the same as with the Maximum Daily Loss; the only difference is that it’s not limited to one day but the entire duration of the testing period. The limit is inclusive of commissions and swaps. 10% of the initial account balance gives trader enough space to prove that his/her account is suitable for the investment. It is a buffer that should keep the trader in the game even if there were some initial losses. The investor has an assurance that the trader’s account cannot decline below 90% (80% in case of Aggressive version) of its value under any circumstance.
  • #9,594
  • Jul 29, 2022 7:52am Jul 29, 2022 7:52am
Quoting benadil
{quote} ok here is the rule of the draw down in MFF 12% Overall Drawdown Your FOREX trading account must not go down by 12% (realized/unrealized) to balance or equity. Always remember: Drawdown % = [1 - (lowest equity or balance for the day) / (starting equity or balance for the day) ] X 100 5% Daily Drawdown You must not have a 5% drawdown based on your balance or equity (whichever is higher) on your FOREX trading account within a 24 hour period starting at 5pm EST. FTMO draw down rules This rule can also be called “account stop-loss”. The equity...
You misunderstood MFF's rules.
Chat with MFF staff to clarify.
I had MFF challenge and have funded account now.
Their drawdown is the same rule as FTMO, except their drawdown is 12% instead of FTMO 10%.
My MFF challenge has once won 6% and then down 10%(down 16.6% from the peak), without losing my account. It would not happen if it is a trailing drawdown.
  • #9,595
  • Jul 29, 2022 8:02am Jul 29, 2022 8:02am
Quoting benadil
{quote} ok here is the rule of the draw down in MFF 12% Overall Drawdown Your FOREX trading account must not go down by 12% (realized/unrealized) to balance or equity. Always remember: Drawdown % = [1 - (lowest equity or balance for the day) / (starting equity or balance for the day) ] X 100 5% Daily Drawdown You must not have a 5% drawdown based on your balance or equity (whichever is higher) on your FOREX trading account within a 24 hour period starting at 5pm EST. FTMO draw down rules This rule can also be called “account stop-loss”. The equity...
Speaking from 2 + years experience with FTMO and over a year with MFF, both companies are, by far and away, the leaders in this industry. However, MFF literally gives you approx 50% more value for your money. For $979, you get 24K in DD, FTMO is a bit over $1100 for $20K. In addition you are required to make 13% (8+5) with 12% DD vs. 15% with 10% DD. When you factor the targets in, MFF gives you 6.6 value over a personal account vs. 3.1 with FTMO. The value is now more than double when you factor the evaluation targets in.
As I stated both companies are great. The simple solution to the DD issue you describe is to be flat at end of day and reopen the position(s) an hour later. I assure you, you will not miss out on any profits in the hour after rollover.
  • #9,596
  • Jul 29, 2022 8:07am Jul 29, 2022 8:07am
Quoting wmwmw
{quote} You misunderstood MFF's rules. Chat with MFF staff to clarify. I had MFF challenge and have funded account now. Their drawdown is the same rule as FTMO, except their drawdown is 12% instead of FTMO 10%. My MFF challenge has once won 6% and then down 10%(down 16% from the peak), without losing my account. It would not happen if it is a trailing drawdown.
ok I checked this video the only disadvantage is the daily drwadown rules compared to ftmo anything else they beat FTMO
Inserted Video
  • #9,597
  • Jul 29, 2022 8:31am Jul 29, 2022 8:31am
Quoting benadil
{quote} ok I checked this video the only disadvantage is the daily drwadown rules compared to ftmo anything else they beat FTMO https://www.youtube.com/watch?v=xGdsKr2EMmM

This video also misunderstood FTMO's daily 5% loss limit rule.
FTMO's daily 5% loss limit is same rule as MFF's 5% daily drowdown rule.
Both firms count floating position unrealized loss.

Here is explanation from FTMO website for FTMO's daily 5% limit loss rule, which is same as MFF's daily drawdown rule:
https://ftmo.com/en/faq/step-1-the-f...mum-daily-loss

"For example, if in one day, you have closed trades with a loss of $6,000 and then you open a new trade that goes into a floating loss of some -$5,700 but ends up positive in the end, unfortunately, it is already too late. In one moment, your daily loss was -$11,700 on the equity, which is more than the permitted loss of $10,000."
  • #9,598
  • Jul 29, 2022 8:52am Jul 29, 2022 8:52am
Quoting wmwmw
{quote} This video also misunderstood FTMO's daily 5% loss limit rule. FTMO's daily 5% loss limit is same rule as MFF's 5% daily drowdown rule. Both firms count floating position unrealized loss. Here is explanation from FTMO website for FTMO's daily 5% limit loss rule, which is same as MFF's daily drawdown rule: https://ftmo.com/en/faq/step-1-the-f...mum-daily-loss "For example, if in one day, you have closed trades with a loss of $6,000 and then you open a new trade that goes into a floating loss of some -$5,700 but...
he is a video that explain the daily draw down in each firm no one is better than the other but overall i agree MFF beats FTMO
thank you for the info
Inserted Video
  • #9,599
  • Jul 29, 2022 11:17am Jul 29, 2022 11:17am
Quoting benadil
{quote} he is a video that explain the daily draw down in each firm no one is better than the other but overall i agree MFF beats FTMO thank you for the info https://www.youtube.com/watch?v=3aL2xQIrHQs
Here is the difference:

FTMO 100K account daily DD is 5K PERIOD. ALWAYS
MFF 100K account daily DD is 5% of equity or balance. This why I stated if you close all positions at rollover, the 2 numbers are the same. This is actually an advantage when the account is in profit. Let's say your balance and equity are 105K, you now have $5,250 max daily loss next day, 110K you have $5,500 When you are in negative, the number is below 5K. If your balance/equity is 95K, your daily DD is $4,750, etc, etc.
Where everyone gets confused is HOLDING through rollover.
Let's say you have 100K account and you roll a 2K loss into next day. Balance is still 100K, so balance violates at 95K, however, equity is 98K, so equity can actually drop to 93,100. However, if it does, you would violate on the balance (if you closed there). If you're a real risk taker, in the same exact scenario, you can let equity float down to 93,200, if you don't close, it never hits the balance. Of course you are hoping it comes back before another $100 down move.
Let's look opposite, you hold a 2K profit through rollover, balance still violates at 95K, equity now violates at 96,900.
Hope this helps, this is as clear as I can make it. You see why I stated just be flat at rollover!
  • #9,600
  • Jul 29, 2022 11:32am Jul 29, 2022 11:32am
Quoting pipmaster77
{quote} Here is the difference: FTMO 100K account daily DD is 5K PERIOD. ALWAYS MFF 100K account daily DD is 5% of equity or balance. This why I stated if you close all positions at rollover, the 2 numbers are the same. This is actually an advantage when the account is in profit. Let's say your balance and equity are 105K, you now have $5,250 max daily loss next day, 110K you have $5,500 When you are in negative, the number is below 5K. If your balance/equity is 95K, your daily DD is $4,750, etc, etc. Where everyone gets confused is HOLDING through...
If you have a losing position and want to hold it to the next day, just close it before the end of day and immediately reopen it,so you will have same position but with a new balance, which will not reduce your next day 5% drawdown.
107 traders viewing now