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  • #13,921
  • Feb 10, 2023 11:47am Feb 10, 2023 11:47am
Quoting sampat
{quote} Do they have trailing on phase 1, 2 or live?
This is taken from their main page, trading rules. Apparently in all of them. Only changes the % depending on which program the trader has chosen.

Maximum loss

This rule can also be called “account stop-loss”. Maximum Loss is the difference between your highest recorded balance and your current equity.
Depending on your trading program, phase and chosen trading strategy the difference between highest recorded balance and subsequent lowest equity cannot reach below 5% – 20%.
For example if the maximum loss is 5%, here is the formula for Maximum Loss calculation:
Current Equity / Highest Recorded Balance x 100% = must be over 95% at all times.
  • #13,922
  • Feb 10, 2023 1:32pm Feb 10, 2023 1:32pm
Quoting Capablanca
{quote} This is taken from their main page, trading rules. Apparently in all of them. Only changes the % depending on which program the trader has chosen. Maximum loss This rule can also be called “account stop-loss”. Maximum Loss is the difference between your highest recorded balance and your current equity. Depending on your trading program, phase and chosen trading strategy the difference between highest recorded balance and subsequent lowest equity cannot reach below 5% – 20%. For example if the maximum...
Thanks. Any trailing drawdown is no good. The problem with Fieldcrest is they change rules so frequently and they don't even advertise it. At least it is balance based all futures prop firms have equity based trailing drawdown which is even difficult.
  • #13,923
  • Edited 12:20am Feb 11, 2023 12:01am | Edited 12:20am
Quoting pipmaster77
I'm telling you guys, limit orders broken up into smaller positions is the key.
-Okay.

I see many people here complaining about slippage when trading with these prop firms. I have made a simple trade panel for MT5, that will hopefully help with that. This trade panel uses limit entry orders by default, as well as allows you to break up your usual position sizes into many smaller positions while automatically creating a stop-loss and take-profit for every position etc..

Attached Image (click to enlarge)
Click to Enlarge Name: 2023-02-10_23-29-24.png Size: 2 KB

Attached File(s)
File Type: ex5 TRADE PANEL.ex5   61 KB | 249 downloads

Inserted Code
     LOTS = Sets the lot size to be used for each, individual position.
      QTY = Sets the quantity of limit orders that you want to place.
     STEP = Sets the distance between each limit order (for laddering your entries).
       TP = Sets the take-profit distance for each position, based on entry price.
       SL = Sets the stop-loss distance for each position, based on entry price.
      GAP = Sets the distance between the current price and the initial entry point.
    CLOSE = Closes all open positions using asynchronous mode (allows for super-fast closing of multiple trades).
   CANCEL = Cancels all pending orders using asynchronous mode.

By using this trade panel EA, you agree to take full responsibility for any issues (or losses) that may occur as a result of using this tool, including, but not limited to, any coding errors, malfunctions or prop account banning/closures etc..

I have not thoroughly tested this tool. USE AT YOUR OWN RISK!

I hope that this tool will help someone.
  • #13,924
  • Edited 7:16am Feb 11, 2023 5:33am | Edited 7:16am
Quoting Nsak3y
{quote}-The added options apply to both, challenges and funded.
Well I decided to try a small challenge. Paid for the extras so I have a 10% daily DDL and static max loss

Maybe I might succeed for once. Should halp to have a much bigger loss limit
  • #13,925
  • Feb 11, 2023 7:13am Feb 11, 2023 7:13am
Quoting Nsak3y
{quote}-Okay. I see many people here complaining about slippage when trading with these prop firms. I have made a simple trade panel for MT5, that will hopefully help with that. This trade panel uses limit entry orders by default, as well as allows you to break up your usual position sizes into many smaller positions while automatically creating a stop-loss and take-profit for every position etc.. {image} {file} LOTS = Sets the lot size to be used for each, individual position. QTY = Sets the quantity of limit orders that you want to place. STEP...

Thanks - looks really useful except that most are still using MT4 platform
  • #13,926
  • Feb 11, 2023 10:34am Feb 11, 2023 10:34am
Quoting Bizziebee
{quote} Well I decided to try a small challenge. Paid for the extras so I have a 10% daily DDL and static max loss Maybe I might succeed for once. Should halp to have a much bigger loss limit
You are talking about Fidelcrest ?
  • #13,927
  • Feb 11, 2023 3:45pm Feb 11, 2023 3:45pm
Quoting Nehemah
{quote} You are talking about Fidelcrest ?
No, not those awful people. It's with Traders with edge
  • #13,928
  • Feb 11, 2023 4:04pm Feb 11, 2023 4:04pm
Quoting Bizziebee
{quote} No, not those awful people. It's with Traders with edge
Thank you. How did you do to have a static max loss ? Possible to customize ?
  • #13,929
  • Feb 11, 2023 4:28pm Feb 11, 2023 4:28pm
Quoting Bizziebee
Well I decided to try a small challenge.
-Please let us know how it goes. Thanks.
  • #13,930
  • Feb 11, 2023 5:36pm Feb 11, 2023 5:36pm
Quoting Nehemah
{quote} Thank you. How did you do to have a static max loss ? Possible to customize ?
Yes you can pay extra for it. If you go through the process of purchasing a challenge and get to the cart page, you can see all the extras that one can purchase.

As Nsak3y pointed out, with that extra benefit, one can build up a nice buffer over time - gotta be winning of course!
  • #13,931
  • Feb 12, 2023 1:50am Feb 12, 2023 1:50am
Quoting Bizziebee
{quote} Yes you can pay extra for it. If you go through the process of purchasing a challenge and get to the cart page, you can see all the extras that one can purchase. As Nsak3y pointed out, with that extra benefit, one can build up a nice buffer over time - gotta be winning of course!
Thank you. This way of being able to customize is original and interesting. But for a 50 K, with this option (static), the price is about a third higher than on the other props. Is there a benefit in return ?
  • #13,932
  • Feb 12, 2023 2:19am Feb 12, 2023 2:19am
Quoting Nehemah
But for a 50 K, with this option (static), the price is about a third higher than on the other props.
-This option would need to be coupled with the no daily draw-down option for best results, I think. But when doing that, you would need to compare it to something like a 100k account at other firms, probably.

Then there is the added benefit of being able to significantly pad the account, which is more like trading your own money because the more profit that you make, the harder it will be to go bust, whereas, with other props, you will always have a draw-down following right behind you, no matter how much profit you earn on the account.
  • #13,933
  • Feb 12, 2023 3:07am Feb 12, 2023 3:07am
Quoting Nsak3y
{quote}-This option would need to be coupled with the no daily draw-down option for best results, I think. But when doing that, you would need to compare it to something like a 100k account at other firms, probably. Then there is the added benefit of being able to significantly pad the account, which is more like trading your own money because the more profit that you make, the harder it will be to go bust, whereas, with other props, you will always have a draw-down following right behind you, no matter how much profit you earn on the account.
THANKS. As part of a diversification, this firm can be interesting. But you have to be careful with certain rules. They say that they have no consistency rules but then they talk about manipulation of the size of the lots which is prohibited and which must remain within a factor of 5 between the smallest and the largest. No consistency rules.....but consistency rules. To receive the refund, you must have a minimum profit of 1%. After, they say "there is no lot size limit" but a little further they explain that: "there are lot size limitations depending on your account size ".
You really have to read the conditions carefully because they say everything and its opposite.
Other thing : only one challenge at once !
  • #13,934
  • Edited 4:03am Feb 12, 2023 3:29am | Edited 4:03am
Quoting Nehemah
You really have to read the conditions carefully because they say everything and its opposite.
-No matter which firm you choose, the lot sizes will always be limited by your account size. But regarding the lot size consistency, this should not be required if you select the options for that. I was not aware of the refund rule; this must be new... I will need to check it. Thanks.

EDIT: After reading the refund policy, it does seem to indicate that a lot consistency rule may be required for refund, as well as a 1% profit target. I think that this is bogus and I have written an email to support to inquire about it. I have asked that they either consider removing the 1% profit requirement, or, make it more clear on their website, since it seems misleading the way that things currently are.

I was told in an email conversation (several months ago), after a lot of back-and-forth, that the decision was made to remove the lot size consistency rule for funded accounts. Because of this, I am surprised to see that they are still trying to impose this rule. Let's hope that they will have a reasonable response for this.
  • #13,935
  • Feb 12, 2023 4:46am Feb 12, 2023 4:46am
Quoting Nsak3y
{quote}-No matter which firm you choose, the lot sizes will always be limited by your account size. But regarding the lot size consistency, this should not be required if you select the options for that. I was not aware of the refund rule; this must be new... I will need to check it. Thanks. EDIT: After reading the refund policy, it does seem to indicate that a lot consistency rule may be required for refund, as well as a 1% profit target. I think that this is bogus and I have written an email to support to inquire about it. I have asked that they...
It's a little like Finotive. They removed a terrible rules (to cover the loss) but it's always on their site. Let us know.
  • #13,936
  • Feb 12, 2023 5:34am Feb 12, 2023 5:34am
Quoting Nsak3y
{quote}-Okay. I see many people here complaining about slippage when trading with these prop firms. I have made a simple trade panel for MT5, that will hopefully help with that. This trade panel uses limit entry orders by default, as well as allows you to break up your usual position sizes into many smaller positions while automatically creating a stop-loss and take-profit for every position etc.. {image} {file} LOTS = Sets the lot size to be used for each, individual position. QTY = Sets the quantity of limit orders that you want to place. STEP...

Very nice tool! I will test it soon. You know what, the problems of such trade panels is that they are attached inside the chart, and if you have few space you don't want to enlarge a chart. I suppose that even your panel work inside the chart. Is there a way with coding to make it "detachable" from the chart it was open and so let us move where we want outside the chart?
in holiday till end of November
  • #13,937
  • Feb 12, 2023 6:32am Feb 12, 2023 6:32am
Quoting Nsak3y
{quote}-No matter which firm you choose, the lot sizes will always be limited by your account size. But regarding the lot size consistency, this should not be required if you select the options for that. I was not aware of the refund rule; this must be new... I will need to check it. Thanks. EDIT: After reading the refund policy, it does seem to indicate that a lot consistency rule may be required for refund, as well as a 1% profit target. I think that this is bogus and I have written an email to support to inquire about it. I have asked that they...
I will definitely let you know how it goes. I'm definitely trying to stick to one lot size. Trading huge lot sizes will almost always end in disaster that's for sure.
But I'm not sure how it works if one is adding to a winning trade. Suppose one has 3 positions open of 1 lot each position. Do they count that as 3 lots? Will have to find out I suppose. It's a pity that they have this rule but I suppose it does help one stay in the game!
  • #13,938
  • Feb 12, 2023 9:05am Feb 12, 2023 9:05am
Quoting Nehemah
{quote} It's a little like Finotive. They removed a terrible rules (to cover the loss) but it's always on their site. Let us know.
Is it still there ? Could you please point out the url ? I could not find it.
  • #13,939
  • Feb 12, 2023 9:40am Feb 12, 2023 9:40am
Quoting Capablanca
{quote} Is it still there ? Could you please point out the url ? I could not find it.
https://finotivefunding.com/terms-and-conditions

8.2.3.6.1. If the traders P&L is negative, meaning Finotive has covered more losses for the trader than the profit generated for Finotive from the traders's withdrawals, then the trader will be required to pay back this loss.

8.2.3.6.2. To pay back the loss, the trader's profit split will be temporarily reduced to 25%, so that Finotive's 75% split will go fully towards the loss.

8.2.3.6.3. Once recovered, the trader's profit split will be returned to the normal rate.

James said me they have posted on Instagram the official removing but actually still on their site
  • #13,940
  • Edited 3:12pm Feb 12, 2023 2:51pm | Edited 3:12pm
Quoting forexbali
Is there a way with coding to make it "detachable" from the chart it was open and so let us move where we want outside the chart?
-Probably, but the way that I have it coded, it would require a lot of work to change it. I simultaneously run 6 windows inside of metatrader, that are all vertically-tiled, and I have no problems with it. If you are running only between 1 to 3 windows, then it should be no problem at all.

Alternatively, you can find a handful of scripts that, when used in conjunction with each other, can perform in a similar way as this panel, which would allow you to keep your chart clean, but it would require you to run a handful of different scripts, and you would need to run them each time that you wanted to do something.

EDIT: I could also move it to a different corner if you want. It would still be a bit of work, but less so than making it movable. I actually prefer having a docked panel, but that's just me.
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