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  • #16,221
  • May 31, 2023 8:00am May 31, 2023 8:00am
Quoting Capablanca
{quote} I think some (many ?) people here are way beyond 600K and inevitable have to run some risks besides MFF and FTMO (although I agree that Funded Next is not a risk, it's a big risk - from the most known ones I believe they are the shadier ones)
Great thread.

The discussion on pros and cons of firms open our eyes.
Intraday only.
  • #16,222
  • May 31, 2023 8:11am May 31, 2023 8:11am
Quoting Vitore
{quote} I was disqualified. They apparently simplified the process as no interview took place, no request for any evidence that the trades were performed by me, no nothing. They also have no evidence, only suspicion, which they admitted: After a thorough investigation, our system has detected irregularities related to your account, with the same device being used to trade on another account not registered under your name. Even though you mentioned using the Duplikium service (trade-copier.com), our further investigations...
Unfortunately I feared that due to your context. You were an easy victim for their arbitrary decision.

I'm still surprised how I was able to milk Funded Next with profits + refund + the profits of phase 1 and 2 in a 200K account. I guess it was too much for them to ban me as I use basically 2 devices, almost always the same IP and have no EA, copiers, etc.

But I understood I was not facing a serious firm.

I have some bad vibes also about Blue. Let's see. So far I'm in a free ride as I have received already the fee.
  • #16,223
  • May 31, 2023 8:15am May 31, 2023 8:15am
Quoting Capablanca
{quote} I think some (many ?) people here are way beyond 600K and inevitable have to run some risks besides MFF and FTMO (although I agree that Funded Next is not a risk, it's a big risk - from the most known ones I believe they are the shadier ones)
Goes back to the gambling argument. Some firms are a pure gamble, while other are more of a calculated risk.
  • #16,224
  • May 31, 2023 9:09am May 31, 2023 9:09am
I like to clear something was discussed few days ago, didn't have time earlier. From time to time comes back discussion about advantage of bigger accounts 100k or bigger against cheap prop accounts 10k etc. There been lot of math examples posted , someone even said that this types accounts are for poor people. The truth is that math and counting what capital you get with bigger account comparing the price you pay it is not always better than buying few cheap accounts. Nowadays almost every week you got 10k accounts 50% cheaper and.l lot of running promotions, but with bigger size accounts you do not get this discounts.

So since 30.04.2023 i paid 408 dollars and i had capital of total 120000 with 6 props and allowable drawdown around 12000

I reached funded account with 5 of 6 , one account lost straight away, one more lost after first withdrawal, so still got 3 accounts left all after first withdrawal. This was good and easy month for indeces trading. But even if the things would be harder I needed actually withdrawal from 1 out of 6 accounts 400 $ to be breakeven. It is just 4% from 10000 account.

The advantage I have is :

1 No need to care much about prop firm I choose. With withdrawal less than 5% from 10000 account i not much worry about prop excuses to pay me.

2 I can be more often on the market and turn capital. When market is hard i trade accounts one by one , when I see A setups and market is easy I trade more accounts during same time. It is harder manage one large account when market is hard. When u are in drawdown it is better loose one small account and start for example next week with new one than recover drawdown on bigger account. In case of black Swan you loose less.

3 you can trade more stress free, after all the main risk u take is fee you pay to prop, paying with promo around 50-60 $ for 1000 allowable drawdown is no big deal if u manage your overall budget correctly month by month.

4 it is very good approach for skalpers and day traders, you get results fast.

The one biggest disatvantage is overall capital is limited it is easier run few big accounts than lot of small one, so this option is rather not for swing traders or traders who like to build capital over longterm. But as I said you can trade aggressively this small accounts and approach each of them with much more risk.

So as you see you can have quite same allowable capital with cheap accounts as when buying large ones. You can trade more aggressive and be more diversified and more flexible with your strategy.
  • #16,225
  • May 31, 2023 9:52am May 31, 2023 9:52am
Quoting youngD
{quote} why you tried them, waste of time , there dashboard look awful, it was discussed here many times that is rubbish prop.
I don't use anyone's dashboards. I have my own and don't need anything from the firms only to pay. I just gave them a try and unintentionally I earned much more than I intended. That's why I was detected

Edit:
I gave them a try because it is difficult to find a prop firm which is ok with using Duplikium. They all say they support copy trading but in fact they either have no clue what it means (or can cause when you use claud-based copier rather than a trivial EA) or their servers are not up to the level to be used reliably with the service.
Then I have no other chance then to try even some ignorant clowns such as the FundedNext...
Money is made by sitting, not trading
  • #16,226
  • May 31, 2023 10:01am May 31, 2023 10:01am
Quoting Eren10
{quote} Definitely try to win this. It is not easy to be profitable. They are happy when you loose but when you win they look to the special IP address Put definitely on twitter and maybe you can sue them with 50 % to the lawyer of the profits.
I will for sure. But those scammers are not worth much of my time which I can use to make money elsewhere. But I will go public for sure when the time comes
Right now there is still some internal communication going on (I keep trying to explain them what copy trading is and how to read their own log files ) and will wait until this option is definitely buried by them
Money is made by sitting, not trading
  • #16,227
  • May 31, 2023 10:13am May 31, 2023 10:13am
Quoting youngD
I like to clear something was discussed few days ago, didn't have time earlier. From time to time comes back discussion about advantage of bigger accounts 100k or bigger against cheap prop accounts 10k etc. There been lot of math examples posted , someone even said that this types accounts are for poor people. The truth is that math and counting what capital you get with bigger account comparing the price you pay it is not always better than buying few cheap accounts. Nowadays almost every week you got 10k accounts 50% cheaper and.l lot of running...
Thank You for sharing a completely different approach. You are correct, with the 50% off, the math may actually be better. This also allows an individaul to really start with pennies and if you reinvest fee refunds and profits to purchase larger accounts, it may just take longer but financial risk is close to nothing.
  • #16,228
  • May 31, 2023 10:47am May 31, 2023 10:47am
Quoting pipmaster77
{quote} Thank You for sharing a completely different approach. You are correct, with the 50% off, the math may actually be better. This also allows an individaul to really start with pennies and if you reinvest fee refunds and profits to purchase larger accounts, it may just take longer but financial risk is close to nothing.
Agree only caveat is it is still expensive or equals cost of standard 100K challenge, also passing 10 challenge is very tiring as compared to passing 1.
  • #16,229
  • May 31, 2023 10:49am May 31, 2023 10:49am
Quoting Vitore
{quote} I will for sure. But those scammers are not worth much of my time which I can use to make money elsewhere. But I will go public for sure when the time comes Right now there is still some internal communication going on (I keep trying to explain them what copy trading is and how to read their own log files ) and will wait until this option is definitely buried by them
I'm surprised that you are able to communicate and get answers. When I had a glitch in my dashboard which incorrectly put me on violation I was able to sort it out after more than one week, but it seemed that I was speaking with bots. And very slow bots. Hours to reply. Sometimes only the next day.
  • #16,230
  • Edited 11:20am May 31, 2023 11:01am | Edited 11:20am
Quoting Capablanca
{quote} I'm surprised that you are able to communicate and get answers. When I had a glitch in my dashboard which incorrectly put me on violation I was able to sort it out after more than one week, but it seemed that I was speaking with bots. And very slow bots. Hours to reply. Sometimes only the next day.
I only exchange emails with the department which suspended my account. My account manager chatted with me earlier, but he already stopped responding.
But the answers I get are template BS anyways with only a little edits to adjust to my case

Edit:
and I also wait at least a couple of hours for each email response
Money is made by sitting, not trading
  • #16,231
  • May 31, 2023 4:24pm May 31, 2023 4:24pm
Quoting sampat
{quote} Agree only caveat is it is still expensive or equals cost of standard 100K challenge, also passing 10 challenge is very tiring as compared to passing 1.
Not really, because as I said in one of my posts quite long time ago here it is all about risk approach and what strategy you take to build your income. I need to start with I think the most important thing. Every trader need to ask himself is he going to build capital to work with long-term and take the risk involved with this choice. U might think there is not much risk but we all know that almost every trader go bankrupt one day, even if u study stories of famous traders many of them been starting from scratch few times. Second approach, the one i choosed and this is based on my own experience is threat it same as any other job. So I know exactly what amount I can spend every month for challenges in case i need start new ones because all my funded accounts been closed with loss . So every month might be different because it might be time I will buy one challenge pass it in 2 days and few days later have for example 1000$ of profit and it cost me 50$. There might be time I will buy 5-10 challenges during month time and have overall loss or be at breakeven at the and of month and this is ok as well.

But what u said that is very tiring pass 10 challenges is not really true. For example for me one challenge is one day of trading. And during that day i might open 1-3 trades and that is it. And I consider often one challenge as one market scenario. For example for me passing one phase of challenge might be one trade only, and when I am funded I do it same way. I attached picture of one of my funded accounts waiting for withdrawal at the moment. You can see that I took only 3 trades on first day. 230$ profit share plus refund, and this challenge cost me 37$ which is really no risk at all. Profit is very small but if u think different way for me this 230 dollars is free money to buy bigger account if I like or to buy 4 more 10k accounts on average price 57$ with some current promo running on with any of prop firms.

I know there is lot of good traders here who built some capital and it is ok if this work for them, but I just like to show, and this post is mostly written to starting traders or struggling at the moment, that it is really easy to start with small accounts if you know what are u doing and what u expect.
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  • #16,232
  • May 31, 2023 5:51pm May 31, 2023 5:51pm
Quoting youngD
{quote} . . .For example for me one challenge is one day of trading. And during that day i might open 1-3 trades and that is it. And I consider often one challenge as one market scenario. For example for me passing one phase of challenge might be one trade only, . . ..
Knowing when to buy a challenge and knowing when to enter the market. We need to get this right else we will be gambling with our whole house.
  • #16,233
  • May 31, 2023 6:10pm May 31, 2023 6:10pm
When is a good time to buy a challenge and a good time to to enter the market?

-When they post the biggest discount coupon you've ever seen.
-Monday after after NFP.
  • #16,234
  • May 31, 2023 6:20pm May 31, 2023 6:20pm
Quoting failinforex
{quote} Knowing when to buy a challenge and knowing when to enter the market. We need to get this right else we will be gambling with our whole house.
yes but with this approach i rather consider my bankroll as my budget, single account is just one piece of it. And as i said post earlier it might be easy like this but it's always related to market conditions. My strategy is very easy i trade mostly few indeces and always one of them in a time, if I spot setup for example during EU session on us30 I enter position. When us session open and market keep my direction and I got feeling that is one direction day i add more. If I am wrong I stop at daily loss limit most often or at breakeven and wait for next day, but if I am right I am at least half way to 1 phase profit and this is the most important thing because now I got more drawdown to risk and little profit to make.

Ending topic it is just idea that instead of trying to get large capital you can split it for smaller accounts and trade it with higher risk and more freestyle trading and get some good profits as well.
  • #16,235
  • May 31, 2023 6:48pm May 31, 2023 6:48pm
Quoting youngD
{quote} yes but with this approach i rather consider my bankroll as my budget, single account is just one piece of it. And as i said post earlier it might be easy like this but it's always related to market conditions. My strategy is very easy i trade mostly few indeces and always one of them in a time, if I spot setup for example during EU session on us30 I enter position. When us session open and market keep my direction and I got feeling that is one direction day i add more. If I am wrong I stop at daily loss limit most often or at breakeven...
My personal opinion 10K accounts defeats purpose of trading prop firms if you are trading from first world country where currency value is high like euro, dollar, pound etc. Why not just take 500$ and flip account. The reason people go for prop firms is to have high capital otherwise all offshore brokers allows 200:1 or 500:1 leverage.
100K account is different story as one gets 10K which is high enough account to start with.
Again if trader is discipline enough any account size is ok and one doesn't even need prop firm as all offshore broker allows significantly higher leverage.
  • #16,236
  • May 31, 2023 7:36pm May 31, 2023 7:36pm
Congratulations! Could you give me some tips?
Quoting navk
Aprovado na minha 4ª conta da fase 2 de avaliação de 100k + Aprovado na avaliação da fase 1 na 5ª conta de 100k hoje. A volatilidade do GBPUSD ajudou a proteger a nova conta. {imagem} {imagem}
  • #16,237
  • May 31, 2023 7:56pm May 31, 2023 7:56pm
Quoting andrelucas
Congratulations! Could you give me some tips?{quote}
Following are my tips :

1. I trade only gbpusd

2. I trade at important levels only. ( sup, resistance, 4hr )

3. I follow strict risk management, 3 % in a day.

4. I signed up with MFF... they allow 12 % risk. Means I can offord to loose 3 % consecutively for 4 days.

5. I trade GBPUSD in London session....easy to capture pips. Then in NY session.

6. If i manage to make 0.6 % to 1 0r 1.5 % in a day, I quit trading for that day in order not to loose what I made. This is important aspect not to be greedy.
Intraday only.
  • #16,238
  • May 31, 2023 8:17pm May 31, 2023 8:17pm
FTMO dropped minimum trading days from 10 down to 4.

Inserted Video
Trade with confidence, trade without fear.
  • #16,239
  • May 31, 2023 9:47pm May 31, 2023 9:47pm
Quoting youngD
advantage of bigger accounts 100k or bigger against cheap prop accounts 10k etc. ... The advantage I have is
-I agree that it is better to trade smaller accounts. However, the problem with that is, most firms, including the top firms (MFF, FTMO), do not usually offer discounts on these smaller accounts, so you end up paying a LOT more to secure the same amount of capital, and, you usually end up having to use a cloud-based copier which will add to your monthly expenses. Nothing wrong with a cloud-based copier, but if you are trying to manage 60+ 10k accounts, then it can get expensive.

Couple that with the fact that you can only take so many trades per day that are good (this is true for me, at least), so you will likely only be able to trade 2 or 3 batches of accounts separately in order to effectively minimize risk. Meaning, you are typically only going to get so much advantage from minimized risk by trading separate batches, which can be achieved even with larger accounts. If you jump around, trading many different instruments, then maybe you can do that, but I personally stick to the same instrument and the same time-block, which provides a narrow window of opportunity.

I think, a good approach is (6) 100k accounts with MFF and (4) 100k accounts with FTMO. Trade MFF and FTMO as separate batches. This is good enough to produce a very comfortable income. Trading smaller than 100k will cost more and trading larger accounts will require bigger position sizes (or volume) which could lead to greater potential for slippage and/or getting flagged by a firm for 'generating too much profit' etc..

Once you have your stable earners established with the 6 + 4 accounts via MFF and FTMO, then branch out to other firms with some higher-risk accounts, where you can treat them less seriously and have a little more fun. Or, just keep securing 100k accounts everywhere and add them to your copier so that you can further-reduce your position sizes and thereby minimize risk even further, or, trade them the exact, same way and simply increase your overall profit-potential.

Just my opinion.

I have looked at the numbers, and assuming that most traders will (should) want to max out at MFF and FTMO first, then the best option may not be to go with 10k accounts unless you need to in order to build up capital. Nothing wrong with that. But once you have more capital, it just makes more sense to trade larger account sizes (but not too large), that way, you can get the best of both worlds - good cost vs. draw-down but without getting flagged or having to deal with so much slippage (depending on how you trade).

Just a quick cost-comparison for maxing out capital allocation at MFF:

100k (6 accounts) = $2994
10k (60 accounts) = $5040

Cloud-based copier (Social Trader Tools just as one example):

100k (10 accounts) = $120/month
10k (100 accounts) = $1,000/month
  • #16,240
  • Jun 1, 2023 12:15am Jun 1, 2023 12:15am
Quoting Cryptosurf
FTMO dropped minimum trading days from 10 down to 4. https://youtu.be/kYDl9losi0Y
Rut Roh,

Looks like FTMO doesn't like all these new casinos cutting into their action.

Maybe MFF will go to 3 min days now

But don't worry, we're still looking for responsible, consistent, professional traders.
Pride always comes before destruction.... -Proverbs 16:18
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