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  • #9,921
  • Aug 9, 2022 5:07am Aug 9, 2022 5:07am
Is MFF the only prop firm that has the "Rapid" product where there are no target requirements or are there others that have something similar? The payout is only 12% but at least there are no targets to achieve. Just stay within the DD limits.
  • #9,922
  • Aug 9, 2022 5:20am Aug 9, 2022 5:20am
I'm thinking about doing the 500:1 100K Rapid at MFF because no target requirements and because of the large account size, through compounding, that 12% would be good. I'll think about it for the rest of this week but any thoughts or advice before I spend the hefty $749 fee?
  • #9,923
  • Aug 9, 2022 5:25am Aug 9, 2022 5:25am
Quoting madpips
Is MFF the only prop firm that has the "Rapid" product where there are no target requirements or are there others that have something similar? The payout is only 12% but at least there are no targets to achieve. Just stay within the DD limits.
Forget those Rabid and other accounts, only do the challenges. It is also not favorable to do instant funding. Just stick with the challenge models. MFF is good here.
  • #9,924
  • Aug 9, 2022 5:32am Aug 9, 2022 5:32am
Quoting TrAndy1
{quote} Forget those Rabid and other accounts, only do the challenges. It is also not favorable to do instant funding. Just stick with the challenge models. MFF is good here.
I've done the computations with my system and I would be able to reach the 8% target within a month while staying under the DD but I like the idea of making 12% from the start. But it's still not clear if I would earn the daily 12% right away or, I have to increase the account by 10% first (however long it may take) before they start paying the daily 12%.
  • #9,925
  • Aug 9, 2022 5:40am Aug 9, 2022 5:40am
Quoting TrAndy1
{quote} Forget those Rabid and other accounts, only do the challenges. It is also not favorable to do instant funding. Just stick with the challenge models. MFF is good here.
The Rapid is a better I think. For one thing it's 500:1. On the Evaluation, all their plans are 100:1. So their largest plan 300K, is really a 500:1 60K account. With a larger account on Rapid, and more flexibility, the potential is greater with compounding.
  • #9,926
  • Aug 9, 2022 5:43am Aug 9, 2022 5:43am
Quoting Soros
gooday guys I come in peace, i read most of the thread and i must admit that there are many smart minds here but its a pity they are all in conflict with each other, if all these smart brains come together in harmony to develop a system that will beat brokers and prop firms im sure magic would have happened by now. the prop firm model seems like a very lucrative model ONLY IF YOU CAN TRADE UNDER THEY ALMOST IMPOSSIBLE CONDITIONS, i think the hardest part is phase 1 evaluation stage, i think after that everything becomes EASIER. the model is made...

You need to have a strategy that is specially for the challenge, and is more risky.

If you have a personal account, you need to ensure that your account will never be blown up.
But for a challenge account, it can be blown up, as long as the total cost of blown up accounts is much less than the funded account drawdown.
For example, if your challenge price is 1/20 of funded account drawdown, then it will be worth if you blow up 3-5 accounts to get one funded account.
So the challenge strategy is to bet big on high probability, much bigger than in your personal account.
  • #9,927
  • Aug 9, 2022 6:01am Aug 9, 2022 6:01am
i need someone whose experienced and whose been paid atleast 4 to 5 times
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9,928
  • Aug 9, 2022 6:12am Aug 9, 2022 6:12am
Quoting Soros
1. Has anyone here had a funded account for 6months or longer?
-That is not important. Just focus on securing profits while you can. As long as you can do that, then the rest just does not matter much. You can improve along the way so long as you are learning from your mistakes.

Quoting Soros
2. I have plans to attempt this prop firm thing, what advice will you give me?
-Practice first. Do not pay any real money until you are confident that you can pass the challenge, unless you just have piles of money to burn.

Quoting Soros
3. Do you think that this is a viable way of earning from the markets or is it just dreams that can never be atttained?
-We would not waste our time if we did not think that it was viable. If you are a real trader, then you know the risks and the potential opportunity involved with trading. Now, take that knowledge and imagine doing the same thing with someone else's money, where you can trade without any risk. Does it seem viable to you? Not trying to sound any way in particular, but it is a no-brainer for most here.
  • #9,929
  • Aug 9, 2022 6:17am Aug 9, 2022 6:17am
Quoting Soros
i need someone whose experienced and whose been paid atleast 4 to 5 times

Why do you need? I have had an account for a year now with FTMO. but i do not offer any services/help with trading.
  • #9,930
  • Aug 9, 2022 6:18am Aug 9, 2022 6:18am
Quoting Expo33
{quote} Imagine 10,000 traders pay $600 for a 100K evaluation. That equals 6 million dollars in evaluation fees. Now imagine that 5% of those traders actually pass the evaluation and become funded traders. Now imagine that miraculously ALL 500 of those funded traders actually made 10% in their first month of trading. Assuming they get paid 80% of the 10K that equals 4 million dollars in payouts (8000 x 500) Also, they get their fee reimbursed which equals 300 thousand dollars (600 x 500). So now the prop firm after payouts and fee reimbursements...

You are right. No reason to execute any trades unless you are wanting to limit your risk on a single trader after say like 5 payouts. The average payouts are 3 figures as well so .... its no harm.
  • #9,931
  • Aug 9, 2022 6:22am Aug 9, 2022 6:22am
Quoting wmwmw
{quote} You need to have a strategy that is specially for the challenge, and is more risky. If you have a personal account, you need to ensure that your account will never be blown up. But for a challenge account, it can be blown up, as long as the total cost of blown up accounts is much less than the funded account drawdown. For example, if your challenge price is 1/20 of funded account drawdown, then it will be worth if you blow up 3-5 accounts to get one funded account. So the challenge strategy is to bet big on high probability, much bigger...
Exactly the correct approach in my opinion. Started with FTMO in June 2020, MFF in July 2021, tried a 5%ers last March (realized quickly what a horrible model direct funding is in general).
Treat it like a business. You have start up capital (challenge fees). Fund new challenges with profits you are making with the funded accounts, etc.
I have failed challenges, had many free retires, have blown live accounts. When I started. I set up a separate bank account solely for this venture, all revenue goes in there and all expenses come out. Despite failed challenges, some blown accounts, etc, that account has a significantly higher balance then when I started. The key is to keep at least 2-3 low risk accounts constantly bringing in profit splits(I personally do not believe in merging them as if you blow it the entire funding is gone). Then you can have other accounts where you may try some higher risk stuff, once again all being funded by profits.
You must have a solid strategy, understand money management and risk per trade. Above all, a pretty basic understanding of how the market works. When I see folks posting about slippage during news and spreads at rollover, I can't help but think....this person has never even traded their own account and yet they are trying to pass prop challenges????
  • #9,932
  • Aug 9, 2022 6:34am Aug 9, 2022 6:34am
Quoting pipmaster77
{quote} Exactly the correct approach in my opinion. Started with FTMO in June 2020, MFF in July 2021, tried a 5%ers last March (realized quickly what a horrible model direct funding is in general). Treat it like a business. You have start up capital (challenge fees). Fund new challenges with profits you are making with the funded accounts, etc. I have failed challenges, had many free retires, have blown live accounts. When I started. I set up a separate bank account solely for this venture, all revenue goes in there and all expenses come out. Despite...
this is a fresh aproach and it opened up my mind, thanks for your reply.. whats the longest youve been funded in a prop firm?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9,933
  • Aug 9, 2022 7:23am Aug 9, 2022 7:23am
Quoting Soros
{quote} this is a fresh aproach and it opened up my mind, thanks for your reply.. whats the longest youve been funded in a prop firm?
My first FTMO account I had for 11 months before blowing it up. Of course, by that point I had secured others. As I mentioned, strategy now is keeping 2-3 alive by trading with such low risk and then trying other higher risk in other accounts. I also trade certain instruments in certain accounts. You just really need to get a feel for what YOU are most comfortable with.
  • #9,934
  • Aug 9, 2022 7:31am Aug 9, 2022 7:31am
Quoting pipmaster77
{quote} My first FTMO account I had for 11 months before blowing it up. Of course, by that point I had secured others. As I mentioned, strategy now is keeping 2-3 alive by trading with such low risk and then trying other higher risk in other accounts. I also trade certain instruments in certain accounts. You just really need to get a feel for what YOU are most comfortable with.

seems like a good aproach, do you use same strategy for all acconts?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9,935
  • Aug 9, 2022 7:39am Aug 9, 2022 7:39am
Are there other prop firms besides MFF that has a "Rapid" product? The package that doesn't have target requirements.
  • #9,936
  • Aug 9, 2022 8:18am Aug 9, 2022 8:18am
Quoting Soros
{quote} seems like a good aproach, do you use same strategy for all acconts?
Well as you know already, weekly pivots is a big part of what I do. Those trades can vary from a few hours to a few days. With the props, I try to be flat every end of day, so these sometimes need to be closed and reopened once spreads normalize after rollover. All depends on the size of the trade, in DD, in profit, etc. I also have some day trading strategies as well as some daily methods for indices.
  • #9,937
  • Aug 9, 2022 8:30am Aug 9, 2022 8:30am
Quoting pipmaster77
{quote} Well as you know already, weekly pivots is a big part of what I do. Those trades can vary from a few hours to a few days. With the props, I try to be flat every end of day, so these sometimes need to be closed and reopened once spreads normalize after rollover. All depends on the size of the trade, in DD, in profit, etc. I also have some day trading strategies as well as some daily methods for indices.

perfect, this is perfect!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9,938
  • Aug 9, 2022 8:38am Aug 9, 2022 8:38am
I'm trying MFF with a 500:1 100K. If things go well, I'll try the Evaluation program but the Rapid will be a good place to start since there isn't the monthly target requirement.
  • #9,939
  • Aug 9, 2022 9:03am Aug 9, 2022 9:03am
Quoting madpips
I'm trying MFF with a 500:1 100K. If things go well, I'll try the Evaluation program but the Rapid will be a good place to start since there isn't the monthly target requirement.
Sorry, but I think you have not understood the Rapid model of MFF. Do not say you have not been warned. It is not a good model. Only do the challenges from them. And only do that when you are ready and have a solid tested proven strategy that works. Otherwise you will waste your money only. Be sure you can meet the goals.
  • #9,940
  • Aug 9, 2022 9:04am Aug 9, 2022 9:04am
Quoting pipmaster77
{quote} Exactly the correct approach in my opinion. Started with FTMO in June 2020, MFF in July 2021, tried a 5%ers last March (realized quickly what a horrible model direct funding is in general). Treat it like a business. You have start up capital (challenge fees). Fund new challenges with profits you are making with the funded accounts, etc. I have failed challenges, had many free retires, have blown live accounts. When I started. I set up a separate bank account solely for this venture, all revenue goes in there and all expenses come out. Despite...
Intraday only.
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