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  • #10,741
  • Sep 9, 2022 12:45am Sep 9, 2022 12:45am
Quoting Capablanca
I didn't receive a payout from MFF for a while. Some quick questions: 1. I see that they only have BTC, Lite and ETH. No more USDC like before ? 2. How long do they take to make a crypto payout from the moment they deduct the money from the account (which was fast). 3. I guess that from the moment they deduct the money and balance is back to the initial amount, I can go on trading, right ? Thanks
USDC is just a "stablecoin" that serves as a bridge between fiat and other cryptos/tokens, being the base to trade them in pairs. Same as USDT(Tether) or BUSD (Binance). The recent issues with USDC come from more strict regulations, Circle's mismanagement, and stronger restrictions to users (like freezing of funds, something cryptos are not meant for), so many important exchangers are planning to dump it.

Hence, brokers and prop-firms may offer other stables in the near future. And yes, BTC, LTC and ETH are the most used; and even if they are open and traceable, there are still tricks to move them well. In general, it should be faster than traditional fiat bank wires... but then to use it for most things in real life, you would need to exchange it for fiat, anyway.

Why don't you directly ask them? And please tell us
  • #10,742
  • Sep 9, 2022 5:24am Sep 9, 2022 5:24am
I'm going to give credit where its due. Daniel savage stopped flexing and his prop firm is functioning normally sorta. It still sucks ass but its not not legit.

The problem with him though as an unstable human as we dont know how long this will last. I don't recommend his firm (nations trading) but at least he decided to go legit instead of renting cars to flex.
  • #10,743
  • Sep 9, 2022 2:40pm Sep 9, 2022 2:40pm
To the experienced prop firm traders here, I can't decide between FTMO or MFF. I'm going to be using a copy trade ea to copy selected trades from my personal account to the prop firm account. MFF has lower targets, cheaper and more generous extension period than FTMO but how OK will MFF be with copying trades from my personal account. Their website says you can't copy trades from other people but how is this proved or disproved in practice. FTMO on the other hand seems fairly relaxed with using copy trade EA or other EA.
  • #10,744
  • Sep 9, 2022 3:28pm Sep 9, 2022 3:28pm
Quoting Sc11
To the experienced prop firm traders here, I can't decide between FTMO or MFF. I'm going to be using a copy trade ea to copy selected trades from my personal account to the prop firm account. MFF has lower targets, cheaper and more generous extension period than FTMO but how OK will MFF be with copying trades from my personal account. Their website says you can't copy trades from other people but how is this proved or disproved in practice. FTMO on the other hand seems fairly relaxed with using copy trade EA or other EA.

They are fine with it and both are good options. If you aren't copying other traders you are ok. There is a low probability if you having multiple exact time stamp open and close trades to another user unless you are actually copying. But if you are using the same strategy as someone else, both prop firms will ban you. FTMO have a "per strategy" rule that says x capital per strategy which is the same as saying, one person can use one strategy if multiple users are using the same strategy they will get banned.
  • #10,745
  • Sep 9, 2022 7:16pm Sep 9, 2022 7:16pm
https://ftmo.com/en/500k-ftmo-challenge/ --> feels a bit like cash grab tactic from FTMO. I prefer clean approach like MFF where they have introduced 300K that anyone can buy for a limited time.

If FTMO introduced the 500K challenge for a short time instead of this lucky draw tactic, I would take that anyday.
Trading is SIMPLE not EASY.
  • #10,746
  • Sep 9, 2022 8:47pm Sep 9, 2022 8:47pm
Quoting garfield75
https://ftmo.com/en/500k-ftmo-challenge/ --> feels a bit like cash grab tactic from FTMO. I prefer clean approach like MFF where they have introduced 300K that anyone can buy for a limited time. If FTMO introduced the 500K challenge for a short time instead of this lucky draw tactic, I would take that anyday.
I still don't get it though. I confirmed with chat max allocation is still 400K. I specifically asked, what if I am already funded, is this over and beyond?Response was, no max allocation still applies, this is if you ever lose one of your funded accounts. So does this mean you pass the 500K challenge and you only get a 400K account? Like you said, appears to be nothing more than a cash grab to get folks to buy 100K and 200K to win a 500K that they cannot use?????
  • #10,747
  • Edited Sep 10, 2022 1:46am Sep 9, 2022 11:18pm | Edited Sep 10, 2022 1:46am
Quoting pipmaster77
Response was, no max allocation still applies, this is if you ever lose one of your funded accounts.
-Yuck. If that is not clearly explained at the front of everything, then this is a crap move by FTMO. They know full-well that people are going to be drawn to that for the account size.

WIN THE HOLY $500K FTMO CHALLENGE
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-09-09_23-16-36.png Size: 99 KB


Nowhere does that indicate what is being described in chat by support.
  • #10,748
  • Sep 10, 2022 3:37am Sep 10, 2022 3:37am
Sorry if you’ve mentioned this before, I’ve not been following for awhile…

Just did a Google search and this one popped up:

https://kickstarttrading.com/

seems too good to be true ref no time limits (I wish MFF would do this!) BUT max drawdown is only 5% so feels like a repackaged direct funding model?

Here is the UK company info:

https://find-and-update.company-info...70889/officers

Broker is 8 cap…

Anyone had a payout?
  • #10,749
  • Sep 10, 2022 3:48am Sep 10, 2022 3:48am
Quoting Fagin
Sorry if you’ve mentioned this before, I’ve not been following for awhile… Just did a Google search and this one popped up: https://kickstarttrading.com/ seems too good to be true ref no time limits (I wish MFF would do this!) BUT max drawdown is only 5% so feels like a repackaged direct funding model? Here is the UK company info: https://find-and-update.company-info...70889/officers Broker is 8 cap… Anyone had a payout?
Do not bother about them because it is a kind of fraud. Their challenge is scoring below 1, so it is better you do your own compounding on your own personal account.
  • #10,750
  • Sep 10, 2022 4:04am Sep 10, 2022 4:04am
Quoting TrAndy1
{quote} Do not bother about them because it is a kind of fraud. Their challenge is scoring below 1, so it is better you do your own compounding on your own personal account.
Thanks TRAndy1. I won’t be giving them my money until I see many more users/posters confirming payouts and decent service etc.

Not sure if they are a scam yet though so I’ll keep an eye on them. Always interested in firms challenging the challenge model…. Something has to give eventually if enough survive but then again there is one born every minute isn’t there?
  • #10,751
  • Sep 10, 2022 4:44am Sep 10, 2022 4:44am
Yeah and that reminds me...if you're like me and you suck at completing this challenges in the time window...you should check out traderswithedge... it's only one phase where you have to make 10% with a 2.5% daily drawdown and 5% overall drawdown but the best part is you have 365 days to complete it which is pretty neat...so no pressure and no need to rush it.
  • #10,752
  • Sep 10, 2022 9:09am Sep 10, 2022 9:09am
Traderswithedge prop firm is not good too, because they are scoring below 1. So trading on your own personal account is better. You need to check prop firms score first.
  • #10,753
  • Sep 10, 2022 9:38am Sep 10, 2022 9:38am
Quoting TrAndy1
Traderswithedge prop firm is not good too, because they are scoring below 1. So trading on your own personal account is better. You need to check prop firms score first.
Unfortunately, I do not believe most can just glance and determine they are getting ABSOLUTELY NO VALUE at these firms.. ...it really is quite simple though:

1. Is fee larger than allowable loss?
2. What is target to DD?
3. When you multiply #2 * the fee, is that number larger than what your allowable loss is once funded?

If the answer to #1 is yes, no need to even do #2.
If the answer to #3 is yes, you are better off trading the fee and compounding on your own.

Haven't even looked at the latest one mentioned here, but right away, he states ONLY ONE PHASE....10% goal with 5% loss and yet thinks this is better than MFF with 13% (over two phases) with 12% loss......200% gain vs. 108% gain.

Everyone gets fooled with the time to pass, which is completely irrelevant in the math, matter of fact the longer the time, THE GREATER THE DIFFERENCE OF WHAT YOU WOULD COMPOUND ON YOUR OWN!!!!!

Just can't grasp how folks miss the glaringly obvious rip offs.

Fortunately, your spreadsheet displays the math. Math is indisputable, that's what is wonderful about it. There are no opinions, you cannot dispute math. Perhaps your spreadsheet should be pinned to page 1 in this thread.

Nevermind, we already pinned it. Wow, now I really cannot grasp it.
  • #10,754
  • Sep 10, 2022 9:45am Sep 10, 2022 9:45am
I get the inability to complete within the allotted time. Not everyone can do it and it DOES NOT mean you are a bad trader. More often than not, it probably is just the psychological pressure. My point is this.....if you cannot complete one of the challenges within the allotted time, simply keep trading on your own. No point in giving away money that you be better served compounding on your own because a firm OFFERS longer time limit but you lose money by using them.
  • #10,755
  • Sep 10, 2022 10:47am Sep 10, 2022 10:47am
Hello,
I'd like to know if there is an indicator or EA for MT4 that would allow to take a challenge on demo account without subscribing and paying a fee.
Best regards
  • #10,756
  • Sep 10, 2022 11:29am Sep 10, 2022 11:29am
Quoting pipmaster77
I get the inability to complete within the allotted time. Not everyone can do it and it DOES NOT mean you are a bad trader. More often than not, it probably is just the psychological pressure. My point is this.....if you cannot complete one of the challenges within the allotted time, simply keep trading on your own. No point in giving away money that you be better served compounding on your own because a firm OFFERS longer time limit but you lose money by using them.
I have an opposite problem. I mostly complete the challenge and verification in just a few hours but then I fail on reducing the speed (=risk) back to the realistic boundaries and burn my funded account too early. Luckily, I usually make some withdrawals first but still it is a big waste of time and effort (and money of course) for me having to repeat the challenges again and again
Money is made by sitting, not trading
  • #10,757
  • Sep 10, 2022 11:30am Sep 10, 2022 11:30am
Quoting Cehraphaim
Hello, I'd like to know if there is an indicator or EA for MT4 that would allow to take a challenge on demo account without subscribing and paying a fee. Best regards
Why would you need one? You just create a demo account and monitor your equity
Money is made by sitting, not trading
  • #10,758
  • Sep 10, 2022 11:49am Sep 10, 2022 11:49am
Quoting Vitore
{quote} I have an opposite problem. I mostly complete the challenge and verification in just a few hours but then I fail on reducing the speed (=risk) back to the realistic boundaries and burn my funded account too early. Luckily, I usually make some withdrawals first but still it is a big waste of time and effort (and money of course) for me having to repeat the challenges again and again
That's the worst. I'd go crazy, all of the stress and pressure of passing and then lose what you worked for? Atleast you are getting some payouts first though. You can still make great money while reducing risk real low. I made over 4% yesterday across multiple firms without going above 1:1 leverage some positions (JPY pairs) were half that size.
  • #10,759
  • Sep 10, 2022 12:05pm Sep 10, 2022 12:05pm
Quoting pipmaster77
{quote} That's the worst. I'd go crazy, all of the stress and pressure of passing and then lose what you worked for?
I know. I just re-passed with E8 this week, made about 3% on rising S&P yesterday and swore I'd never burn another funded account
But it was still about 1:6 leverage. Need to further reduce going forward
Money is made by sitting, not trading
  • #10,760
  • Sep 10, 2022 12:11pm Sep 10, 2022 12:11pm
Quoting pipmaster77
{quote}I made over 4% yesterday across multiple firms without going above 1:1 leverage some positions (JPY pairs) were half that size.
Making 4% a day with less than 1:1 is pretty good
Money is made by sitting, not trading
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