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  • #12,421
  • Nov 16, 2022 6:13am Nov 16, 2022 6:13am
Quoting forexbali
{quote} what is this 30 seconds rule?
Is because they don't really want scalpers. They say its allowed but then make these kind of rules to knock scalpers out

Not quite sure what happens if one has tight stop loss and it is hit within 30 seconds - another reason to fail the trader I suppose
  • #12,422
  • Nov 16, 2022 8:05am Nov 16, 2022 8:05am
Quoting Bizziebee
{quote} Is because they don't really want scalpers. They say its allowed but then make these kind of rules to knock scalpers out Not quite sure what happens if one has tight stop loss and it is hit within 30 seconds - another reason to fail the trader I suppose
Most of prop firms dont like scalpers be it FTMO or MyFF or any firm. I remember MyFF banned a trader trading around 10000 lots of US30 on daily basis stating huge risk to firm. I am really hard time understanding, if any prop firm puts real trades I want traders to trade more so they can get more commissions.
  • #12,423
  • Nov 16, 2022 8:23am Nov 16, 2022 8:23am
Quoting sampat
{quote} Most of prop firms dont like scalpers be it FTMO or MyFF or any firm. I remember MyFF banned a trader trading around 10000 lots of US30 on daily basis stating huge risk to firm. I am really hard time understanding, if any prop firm puts real trades I want traders to trade more so they can get more commissions.

No they banned an arber who did 10000 lots. There is a difference.
  • #12,424
  • Nov 16, 2022 10:12am Nov 16, 2022 10:12am
Quoting Bizziebee
{quote} Is because they don't really want scalpers. They say its allowed but then make these kind of rules to knock scalpers out Not quite sure what happens if one has tight stop loss and it is hit within 30 seconds - another reason to fail the trader I suppose
thank you

here E8 news:

for the user asking of Dow Jones spread, I think less of vantage is impossible, today they lowered to 100, 1 point, no commissions

I checked pepperstone and is bad. So I think that is the best.
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in holiday till end of November
  • #12,425
  • Nov 16, 2022 11:18am Nov 16, 2022 11:18am
Quoting forexbali
{quote} thank you here E8 news: for the user asking of Dow Jones spread, I think less of vantage is impossible, today they lowered to 100, 1 point, no commissions I checked pepperstone and is bad. So I think that is the best. {image}
Well the problem of using E8 with indices is huge. Imagine you are trading 2-4 (unit) daily and if you pay 5$ as commission (plus around 5 point slippage) which is like 20-30$ so monthly 800-900 bucks . Compare with MyFF or FTMO you pay nothing plus no slippage.
Only advantage I can think of E8 is fastwithdrawal and scaling or if you trade only forex in small lots.
  • #12,426
  • Nov 16, 2022 11:42am Nov 16, 2022 11:42am
majority of prop firms will give us demo account's, so they have to copy our tades in order to make money, shorter the trade , harder to copy, specially when it comes to scalping, if trades are only long 20-30 seconds, where 1-2 seconds in lagging might mean actual loss.
I did ask ftmo if they can copy such short trades, they never got back to me .
  • #12,427
  • Nov 16, 2022 12:46pm Nov 16, 2022 12:46pm
I really do not like it when firms impose 30-second rules (or worse). I think, trades should not take that long to copy. However, to make adjustments to the demo account prior to payout so that the profit/loss is a 100% accurate reflection of what the live account actually produced (assuming that such an account exists), would likely either be too difficult, or, would cause a major uproar.

Probably better to just incorporate a 1 or 2-second simulated delay.

After all, if the profit/loss displayed on the demo was accurate to what was actually achieved (or close to it), then the 30-second rule would not be needed. I can only speculate about these things, though.
  • #12,428
  • Nov 16, 2022 4:00pm Nov 16, 2022 4:00pm
News from TFT - looks interesting
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  • #12,429
  • Nov 16, 2022 4:54pm Nov 16, 2022 4:54pm
Quoting Bizziebee
News from TFT - looks interesting {image}
is this on top of the 400 emails I get per day with random coupons and information i didnt ask for that is regurgitated on a daily basis?
  • #12,430
  • Nov 16, 2022 8:28pm Nov 16, 2022 8:28pm
Quoting Bizziebee
News from TFT - looks interesting {image}
I am wondering when they dont have any offer? It is 24*7 on sale 365 days.
  • #12,431
  • Nov 16, 2022 11:47pm Nov 16, 2022 11:47pm
Quoting sampat
{quote} I am wondering when they dont have any offer? It is 24*7 on sale 365 days.
i just unsubscribed from they discord group, they always have promotions everyday, they doing too much, I SMELL A RAT
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #12,432
  • Nov 17, 2022 7:24am Nov 17, 2022 7:24am
Hearing some big lot traders have started being banned at FTMO and being sent this: https://ftmo.com/en/gambling-is-not-...to-make-money/

Almost tempted to sacrifice one of my accounts to see if it happens to me but lately not feeling so generous.
  • #12,433
  • Nov 17, 2022 7:49am Nov 17, 2022 7:49am
Quoting Takisd
Hearing some big lot traders have started being banned at FTMO and being sent this: https://ftmo.com/en/gambling-is-not-...to-make-money/ Almost tempted to sacrifice one of my accounts to see if it happens to me but lately not feeling so generous.
Don't do it because if they use this gambling reason of T&C they will revoke all your accounts, not just the one where you did it, and ban you from future challenges/accounts.
  • #12,434
  • Nov 17, 2022 8:01am Nov 17, 2022 8:01am
What is the problem with FTMO now ? They fear higher profits they need to payout or what ? Assuming having a 400k funded account and doing 40 to 50 lots per trade in one direction with only 10 to 15 pips as stoploss, so no more risking kind of 1% to 1.5% per trade. That cannot be an issue, I do not get it. FTMO is off from table now. Do they really banning all big lot size traders or only doing the full leverage on their accounts as second premise on top of that or not ? I do not get it, its so bad.
  • #12,435
  • Nov 17, 2022 8:05am Nov 17, 2022 8:05am
Just an update from my personal account trading. I am up over 50% this month when I started fresh. I feel like a fish in sea now and not like one in a smaller lake with the prop firm rules. I learned to have more discipline from props but that is all. Trading a personal account feels like having much more freedom and fun, with no rules.
  • #12,436
  • Nov 17, 2022 8:09am Nov 17, 2022 8:09am
In addition I am noticing less slippage with personal account trading than on prop firm accounts. The props are far to sensitive when it comes to slippage on even smaller lot sizes. That is kind of ridicolous because on majors FX there is plenty on liquidity there and I only trade full Londong session. Actually do not regret at all to turn my back to the prop firms. You need to have in mind that you need to triple at least your account or more to get funded when you compare the score from props.
  • #12,437
  • Nov 17, 2022 8:14am Nov 17, 2022 8:14am
So there is only MFF left from the reputable prop firms I am hearing now. It really seems the market is saturated and maybe the crowd of traders gets more intelligent over time. So The Prop Trading is out of game for us now. And then TFF and TFT ban traders for having (too) high payouts too. BGC is scam. So only MFF is left or not ?
  • #12,438
  • Nov 17, 2022 8:21am Nov 17, 2022 8:21am
Possible reasons for banning big lot size traders from FTMO ? 1) They cannot copycat without higher slippage. =>That is FTMO's problem, they also could induce higher slippage on larger lot size trades. 2) They fear higher percentage of profitable traders among big lot size traders, and therefore want to get rid of them as soon as possible. Unfair behavior from FTMO. 3) They fear large possible payouts they need to pay from fees. That would be a shame for FTMO. 4)Any other possible reasons ?
  • #12,439
  • Nov 17, 2022 8:23am Nov 17, 2022 8:23am
I hate to say it but in Germany you pay over 50% taxes on selfemployed gains from prop firms, when a certain swallow is reached. On personal account it is flat ~25%.
  • #12,440
  • Nov 17, 2022 8:28am Nov 17, 2022 8:28am
You pay up to 42% income tax, which even can go as high as 45%, in addition you need to pay VAT or sales tax of 19% on all earnings above ~17k. Unfair disadantage those prop firms have when dealing with them. So I needed to recalculate the scores for myself because of tax differences to personal accounts. And you cannot mix gains and losses from personal accounts to any selfemployed income too. A tax advisor I was looking around wants at least around 5k for himself and ca. 10% of gains.
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