Prop Firm Hub | Page 739 | 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

  • #14,761
  • Apr 7, 2023 3:26am Apr 7, 2023 3:26am
Quoting MrEEB
{quote} Hi Forexbali, i don't understand Ratio P/DD meaning, can you explain this. Thanks
Hi, sorry I'm not so active because I have a broken arm and waiting to recover

the ratio is calculated comparing the total sacrifice we have to do to pass the challege (phase 1 + phase 2 target) divided for the max total drawdown allowed.

so for example (8+5)/12 for MFF

than we also consider which is the max payout in % you can achieve and I divide for that too, and I get the ratio.

formula is like this: =(W17+X17)/U17/85*100
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-04-07 at 10.26.40.png Size: 311 KB
in holiday till end of November
  • #14,762
  • Apr 7, 2023 3:35am Apr 7, 2023 3:35am
Quoting Nsak3y
I feel like we are beating a dead horse at this point, but I will add my input on this again, anyway. There are many reasons why someone might look at other firms besides the top 2 to 5 (or whatever), and it is not always for the reasoning that you might think. And although I suspect that the reasoning may not be good in many cases, I think that we should not discourage discussion of new firms here. If people want to experiment or test the waters with a new firm, then that is their choice; to each their own. Doing so can benefit the rest of us,...
I added MFFX just for this reason. I think was the moment to add them in the top X to consider.
in holiday till end of November
  • #14,763
  • Apr 7, 2023 4:00am Apr 7, 2023 4:00am
Hi all
I have a question that is not related to this forum. Maybe someone knows the answer. Today is a big Friday, London and NYSE looks like are closed today. But we have a non farm payrolls. Will there be volatility today as usual during non farm or not?
  • #14,764
  • Apr 7, 2023 5:33am Apr 7, 2023 5:33am
i'm not a member of any telegram group.. could you please update in this case when you'll have some info?
Quoting Capablanca
Also copies from the group. Now about 5ers. Could be nothing but better be alert: Hello everybody, I bought the highest balance instant funding from the5ers two months ago, After withdrawing a small profit from level 1,2 then I decided to leave all my splits when trading level 3 and passed it. Then when I tried to withdraw all of my splits when I was at level 4, which equals almost 12k USD, a guy named Ruben Abitbol emailed me that they would take 3% fee for withdrawing over 5k USD to deel. I accepted, but then he sent me another email asking for...
  • #14,765
  • Apr 7, 2023 8:06am Apr 7, 2023 8:06am
Quoting Paloduro
{quote} A rule does not need to be hiden to be an scam. Yes i canceled my account with takeprofittrader That rule even is not hiden but a profit is profit,they are reducing profits that you allready made,that is scam. They want that if you enter a trade just before a big move , you exit that trade just bacause of that rule. i mean you entered after your PA setup alert, the market move your way,now you must be afraid of making a proifit because takeproifit trader have rule that said that they will not honor and reduce any profit over 50% of total...

i opened a new account with myforexfund
passed the phased 1
I think that they have better rules
I will pass phase 2 soon
Attached Image (click to enlarge)
Click to Enlarge Name: phase 1.jpg Size: 282 KB
ONLY AN IDIOT ASK FOR 2 YEARS EXPERIENCE TO TRADE ANY SYSTEM
  • #14,766
  • Apr 8, 2023 2:16am Apr 8, 2023 2:16am
Quoting Paloduro
{quote} i opened a new account with myforexfund passed the phased 1 I think that they have better rules I will pass phase 2 soon {image}
Good luck, hope you will continue posting your achievements with us and so far did you face any slippage issue?
  • #14,767
  • Apr 8, 2023 1:51pm Apr 8, 2023 1:51pm
Regarding MFFX : (Discord)

" We are currently in the process of building out the ability to no longer wait at all for your funded account after a payout request. With the new system, you will request a payout via the tradehub and instantly receive a reset funded account to continue trading on. You will no longer be stuck not able to trade while waiting for a payout to be processed. More to come on this once the development team is done "
  • #14,768
  • Apr 8, 2023 2:36pm Apr 8, 2023 2:36pm
Quoting Nehemah
Regarding MFFX : (Discord) " We are currently in the process of building out the ability to no longer wait at all for your funded account after a payout request. With the new system, you will request a payout via the tradehub and instantly receive a reset funded account to continue trading on. You will no longer be stuck not able to trade while waiting for a payout to be processed. More to come on this once the development team is done "
Well, since the 3/31 announcement of this being automated on TFTP has come and gone, looks like maybe a swap for MFFX is in order. I'll still have 3 firms with their own feed (MFF,FTMO and TFF) and one eightcap firm (MFFX instead of TFTP). There is simply no excuse for the third largest firm to make a trader wait 3 days to trade again.
  • #14,769
  • Apr 8, 2023 3:12pm Apr 8, 2023 3:12pm
Quoting Nehemah
Regarding MFFX : (Discord) " We are currently in the process of building out the ability to no longer wait at all for your funded account after a payout request. With the new system, you will request a payout via the tradehub and instantly receive a reset funded account to continue trading on. You will no longer be stuck not able to trade while waiting for a payout to be processed. More to come on this once the development team is done "
As it is now I still only had 12 hours of downtime between the payout request and the ability to continue trading.
Pride always comes before destruction.... -Proverbs 16:18
  • #14,770
  • Edited 6:37am Apr 9, 2023 4:20am | Edited 6:37am
Quoting benaiah
{quote} I’m not sure what you are asking here. Looking at someone’s results with a prop firm doesn’t really tell you much about the prop firm. I’ve been trading with various prop firms for years never been scammed and made withdrawals successfully. So if you stick around here lots of information about various prop firms and experiences from traders who use them. Hope it helps… Edit: I will add that most if not all of us posting here are not affiliates or working for any prop firm. We are just sharing our experiences…
Hi Ben
I have 2 accounts with Stocknet, looking for a second firm, in case Stocknet one day goes bust.
I am not wasting time with evaluation.MFF offers that option, but I mailed them expressing my intention of opening an account with them. They never answered, so that is a clearly negative hint.
Any suggested "proppie"?
And would u recmmend MFF anyway?

Thanks in advance.
  • #14,771
  • Apr 9, 2023 6:32am Apr 9, 2023 6:32am
Quoting Bizziebee
{quote} Well since Monday I made 10% on an FTMO trial 50k account quite easily. The big problem is a ranging market which can cause problems if the EA opens multiple trades. Ideally 3 or 4 trades is the maximum so as I said, best to use it during high volatility or trending market. This afternoon I opened 7 trades and all were winners because of the high volatility. The great advantage is that it doesn't matter if you're wrong when volatility is high. Of the 7 trades, I guessed right 5 times. Normally I would have tried scalping a few ticks here...
Hi Bizziebee. Was reading trough this thread a little bit and came across some of your posts. Interesting! How did this EA strategy of yours worked out? Are you still trading with it? Can I ask you something about your recovery trade setup? Cheers
  • #14,772
  • Apr 9, 2023 8:21am Apr 9, 2023 8:21am
Quoting cuchuflito
{quote} Hi Ben I have 2 accounts with Stocknet, looking for a second firm, in case Stocknet one day goes bust. I am not wasting time with evaluation.MFF offers that option, but I mailed them expressing my intention of opening an account with them. They never answered, so that is a clearly negative hint. Any suggested "proppie"? And would u recmmend MFF anyway? Thanks in advance.
I am funded with MFF,FTMO,TFF and TFTP. If I were starting over today and only going to use one firm it would be MFF.
However, when you say you are not wwasting your time with evaluation, I say don't waste your time with instant funding or accelerated (as MFF calls it). Not going to get into detail, search my posts. I have been doing this nearly 3 years, evals/challenges offer the only value to a trader....up to 20x more value than "instant funding"
  • #14,773
  • Apr 9, 2023 8:28am Apr 9, 2023 8:28am
Hi Pipmaster,

After dealing with Prop firms for over three years. Have you had experience with the 5%er's? If so, please share you valued thoughts on that firm.
Would also would like your views & thoughts what is the best USA Prop Firm for Forex. I would appreciate any info you would share.

Best of trades to you.
  • #14,774
  • Apr 9, 2023 8:34am Apr 9, 2023 8:34am
Quoting acetrader
Hi Pipmaster, After dealing with Prop firms for over three years. Have you had experience with the 5%er's? If so, please share you valued thoughts on that firm. Would also would like your views & thoughts what is the best USA Prop Firm for Forex. I would appreciate any info you would share. Best of trades to you.
Yes, I did the 5%ers "instant funding" at about my 8 month mark, so I speak from experience on these models. It is simple math, look at the fee you pay vs. "the allowable loss", NOT THE EQUITY. There is a spreadsheet on page 1 of this thread. I have not dealt with them since as I have not found any of their models to be of value. However, they have recently introduced a challenge type model in line with the other companies I use. If/when I add a 5th, it will be either that model with the 5%ers or E8 funding.
  • #14,775
  • Apr 9, 2023 9:05am Apr 9, 2023 9:05am
Quoting pipmaster77
{quote} Yes, I did the 5%ers "instant funding" at about my 8 month mark, so I speak from experience on these models. It is simple math, look at the fee you pay vs. "the allowable loss", NOT THE EQUITY. There is a spreadsheet on page 1 of this thread. I have not dealt with them since as I have not found any of their models to be of value. However, they have recently introduced a challenge type model in line with the other companies I use. If/when I add a 5th, it will be either that model with the 5%ers or E8 funding.
Thank you for sharing. I have looked at the 5%er's challenge & that seems the best when going by the numbers. What is the best forex prop firm from your experience?
  • #14,776
  • Apr 9, 2023 9:16am Apr 9, 2023 9:16am
Pipmaster77,
If I might a few more questions. What broker does E8Funding use & why is no phone contact available with most of these prop firms?
Thank you for your response.
  • #14,777
  • Apr 9, 2023 9:18am Apr 9, 2023 9:18am
Quoting pipmaster77
{quote} I am funded with MFF,FTMO,TFF and TFTP. If I were starting over today and only going to use one firm it would be MFF. However, when you say you are not wwasting your time with evaluation, I say don't waste your time with instant funding or accelerated (as MFF calls it). Not going to get into detail, search my posts. I have been doing this nearly 3 years, evals/challenges offer the only value to a trader....up to 20x more value than "instant funding"
You have been able to manage accounts without violation.

I blew off atleast 5 funded accounts.

3 from MFF, 2 from TFF.

However, currently i have 3 funded accounts with MFF. I am not trading them. I am just adding more evaluation accounts. Currently i have 2 nos 100k account in ph 2 with MFF.

One question... how you manage funded accounts especially ? I mean risk per day ?

And what money you target per day or per week ?

For a 100k account, how many lots you open at one time ( total ) ?
Intraday only.
  • #14,778
  • Apr 9, 2023 9:54am Apr 9, 2023 9:54am
Posted sometime last week or two....

Quoting pipmaster77
{quote} I use MFF, FTMO, TFF and TFTP. All are on their own raw feed, except TFTP (8cap), spreads are great on all, if I get slippage, it is + slipppage from hitting a TP limit order. I tend to trade the indices with MFF and FTMO as they offer 0 commish and I stay away from silver on eightcap, for some reason the spread on silver is horrible there. With that being said, I am not a scalper and I trade with 2% risk of ALLOWABLE LOSS. Most often, I scale into positions accross the 4 firms. I AM NOT YOUR TYPICAL PROP TRADER. My max DD this month is...
So basically, to use round numbers, let's say you are funded 1 million across 4 firms, you have a max allowable loss of $100-105K (assuming some funding is with MFF). If you want a risk of ruin < 1%, you should be risking no more than 2K (2%) PER POSITION ACROSS ALL FIRMS, not each firm. If you go into DD, that 2% should be based on the NEW ALLOWABLE LOSS.
I have blown accounts as well, but the larger your funding becomes, the less risk you need to take on. I have an account or two that are higher risk than the others, it is a balanced portfolio I maintain.
  • #14,779
  • Edited 10:30am Apr 9, 2023 9:55am | Edited 10:30am
@navk

Curious, how much down time do you typically have between losing an account and getting refunded once again?

if you have been trading your system for quite some time and you know it's historical max losing streak & drawdown, Simply reduce your per trade risk so that losing streak drawdown = <40% of total allowable prop drawdown. Unless there is a black swan event or your system completely fails, you should eliminate the risk of losing another account.
  • #14,780
  • Apr 9, 2023 10:06am Apr 9, 2023 10:06am
Quoting CableJ
@navk Curious, how much down time do you typically have between losing an account and getting refunded once again? if you have been trading your system for quite some time and you know it's historical max losing streak & drawdown, Simply reduce your per trade risk so that losing streak drawdown = <40% of total prop drawdown. Unless there is a black swan event or your system completely fails, you should eliminate the risk of losing another account.
To further comment, if your risk is under control, it is much quicker to recover from small DD than it is to pass 2 phases of an eval again. Not even factoring the cost, the waiting to get paid, etc.....
103 traders viewing now