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  • #17,641
  • Jul 10, 2023 9:27am Jul 10, 2023 9:27am
Has anyone used this prop?
https://home.forexpropfirm.com/challenges/

It is on the list of props but I can't find much discussion about it.
  • #17,642
  • Jul 10, 2023 11:03am Jul 10, 2023 11:03am
Quoting OutThere
Has anyone used this prop? https://home.forexpropfirm.com/challenges/ It is on the list of props but I can't find much discussion about it.
Haven't and probably would not use them because of these rules:
3. Martingale not allowed

4. No Buying/Selling only or Buying/Selling abusively without strategy in a short period of time or in 24 hours. Any type of High Frequency Trading is not allowed.

5. No Abuse/Gambling (this is not a consistency rule but simply a common sense rule, we are looking for real money manager. Don't do in the challenge what you wouldn't do on your real live account or a client account, we want to see you treat this account exactly like you would treat a live account with real fund and potentially with up to $10,000,000 in capital.)
  • #17,643
  • Jul 10, 2023 11:11am Jul 10, 2023 11:11am
Quoting TraderTero
{quote} Haven't and probably would not use them because of these rules: 3. Martingale not allowed 4. No Buying/Selling only or Buying/Selling abusively without strategy in a short period of time or in 24 hours. Any type of High Frequency Trading is not allowed. 5. No Abuse/Gambling (this is not a consistency rule but simply a common sense rule, we are looking for real money manager. Don't do in the challenge what you wouldn't do on your real live account or a client account, we want to see you treat this account exactly like you would treat a live...
Ya that Marty rule makes them unusable.
Thx
  • #17,644
  • Jul 10, 2023 11:24am Jul 10, 2023 11:24am
And then it says:
**There are no rules or constraints on your trading style as long as you can be consistent in what you do throughout your pay cycles**
  • #17,645
  • Jul 10, 2023 11:37am Jul 10, 2023 11:37am
Quoting OutThere
And then it says: **There are no rules or constraints on your trading style as long as you can be consistent in what you do throughout your pay cycles**
This is a company to be miles away.
  • #17,646
  • Jul 10, 2023 11:10pm Jul 10, 2023 11:10pm
guys what firm offers rawspread beside bespoke? something which is the "go-to" of most prop firm traders. mff isnt't raw spread. The image below is the spreadsheet i stolen from Trandy1 last year, which one of them do you recommend? or maybe something which isnt included here
https://cdn.discordapp.com/attachmen...00/unknown.png
  • #17,647
  • Jul 11, 2023 4:31am Jul 11, 2023 4:31am
Quoting navk
{quote} I made today 792 $
any update?
  • #17,648
  • Jul 11, 2023 4:37am Jul 11, 2023 4:37am
Quoting KoyaAndy18
guys what firm offers rawspread beside bespoke? something which is the "go-to" of most prop firm traders. mff isnt't raw spread. The image below is the spreadsheet i stolen from Trandy1 last year, which one of them do you recommend? or maybe something which isnt included here {image}
What is raw spread to you? Other than a retailers marketing strategy. You want a spread with a 0.01 at top of book all the time holding spread? Or you want something you can execute a decent size trade on?
  • #17,649
  • Jul 11, 2023 4:49am Jul 11, 2023 4:49am
Quoting navk
{quote} The advantages : 1) We go cry for extra loss limits ( more than 10000 usd in 100 k account ) in order to pass evaluation.{image}
Loss limits are no the problem in the evaluations. The 10% in 30 days requirement is the problem. When I got start trading, 20% a year was my baseline to determine if it was worth my time. They want half of that in 30 days.
  • #17,650
  • Jul 11, 2023 5:22am Jul 11, 2023 5:22am
Quoting beastwork
{quote} Loss limits are no the problem in the evaluations. The 10% in 30 days requirement is the problem. When I got start trading, 20% a year was my baseline to determine if it was worth my time. They want half of that in 30 days.
ur better off investing rather then trading then.
  • #17,651
  • Jul 11, 2023 6:41am Jul 11, 2023 6:41am
Quoting 1odi
{quote} ur better off investing rather then trading then.
The 20% comment is not the point I was making. Stay focused. Extracting 10% from the market, on demand is just not realistic. It's doable but not sustainable for the vast majority of profitable traders.

Unless you can point me to average market returns greater than 20%, I am objectively NOT better off investing. 20% is the low mark for me. You've jumped to a conclusion, with limited information.
  • #17,652
  • Jul 11, 2023 8:41am Jul 11, 2023 8:41am
Quoting beastwork
{quote} Loss limits are no the problem in the evaluations. The 10% in 30 days requirement is the problem. When I got start trading, 20% a year was my baseline to determine if it was worth my time. They want half of that in 30 days.
... which encourages gambling. Gambling challenges.
  • #17,653
  • Jul 11, 2023 9:30am Jul 11, 2023 9:30am
No retail shop in any product, wants someone making 20% per yr on their capital. Even a treasuries arcade with high market making rebate wouldn't want that because the volume wouldnt be worth it.

This is where the lines get crossed. Someone trading for a moderate return per year, is likely not going to get additional capital unless from institutions or if their alpha is proven replicable from hedgies.

Whether the prop firms offer unlimited days and tiny targets, 20% per year isnt going to cut it. If they are funding you dollar for dollar, and paying you out the 70-95% profit splits, its really not worth their time.
  • #17,654
  • Jul 11, 2023 10:25am Jul 11, 2023 10:25am
Quoting Takisd
No retail shop in any product, wants someone making 20% per yr on their capital. Even a treasuries arcade with high market making rebate wouldn't want that because the volume wouldnt be worth it. This is where the lines get crossed. Someone trading for a moderate return per year, is likely not going to get additional capital unless from institutions or if their alpha is proven replicable from hedgies. Whether the prop firms offer unlimited days and tiny targets, 20% per year isnt going to cut it. If they are funding you dollar for dollar, and paying...
More assumptions. The 20% minimum was for trading my own personal funds. It had nothing to do with "prop firms" or their capital. Nothing you said changes what I said. You're responding to arguments that I have not made. It's not even the point of my statement so I'm not sure why you're so hung up on it.

Let me refocus you. Are you saying that 10%/month is something that traders should legitimately aim for every time they open the terminal? And don't answer with "it's possible." I'm talking about realistic, repeatable outcomes for the average profitable trader.
  • #17,655
  • Jul 11, 2023 10:42am Jul 11, 2023 10:42am
Quoting beastwork
{quote} More assumptions. The 20% minimum was for trading my own personal funds. It had nothing to do with "prop firms" or their capital. Nothing you said changes what I said. You're responding to arguments that I have not made. It's not even the point of my statement so I'm not sure why you're so hung up on it. Let me refocus you. Are you saying that 10%/month is something that traders should legitimately aim for every time they open the terminal? And don't answer with "it's possible." I'm talking about realistic, repeatable outcomes for the average...
Sure, its hard to get 10% in a month. Even 8%. But we see thousands upon thousands of payouts from traders who pass all of these prop firms, even when the prop firms are supposedly working against them, even the ones where I bitch and moan about working against us. Some of them pass then tone it down, some of them pass then speed it up some of them pass and lose their account.
  • #17,656
  • Jul 11, 2023 10:51am Jul 11, 2023 10:51am
Quoting beastwork
{quote} You're responding to arguments that I have not made. It's not even the point of my statement so I'm not sure why you're so hung up on it.
Someone is just good at making up something and then attacking it. It is a way to relax.
  • #17,657
  • Jul 11, 2023 10:57am Jul 11, 2023 10:57am
Quoting Takisd
Mt5 and ctrader are easier to play with than mt4 . I just spent like 3 weeks manipulating ctrader for a client. Mostly to build realistic conditions but also to see how far you can push it. It’s actually super easy if you have a meta trader server as well with a bridge. Mt5 has good built ins if you want to make a feed more realistic but retail traders hate that
Is the client MFF since they've been promising ctrader this year?
  • #17,658
  • Jul 11, 2023 11:14am Jul 11, 2023 11:14am
Quoting beastwork
{quote} More assumptions. The 20% minimum was for trading my own personal funds. It had nothing to do with "prop firms" or their capital. Nothing you said changes what I said. You're responding to arguments that I have not made. It's not even the point of my statement so I'm not sure why you're so hung up on it. Let me refocus you. Are you saying that 10%/month is something that traders should legitimately aim for every time they open the terminal? And don't answer with "it's possible." I'm talking about realistic, repeatable outcomes for the average...
It's really 100%, not 10%, as your actual account is MAX LOSS, not equity. Some are 80% (8% target, 10% DD), MFF is 67% (8/12) If you normally risk, say, 5% per trade, you are certainly not risking 5% of the equity in a prop.....you'd be done in one trade. The argument is buying power, well if you give me 100:1 on a 100K account with 10% max loss......what YOU ARE REALLY GIVING ME is 1000:1 o a 10K account.
With all of that being said, I've been trading with props 3+ years.....it's just getting through phase1 and most give 45-60 days now with extensions, phase 2 is generally half the target with double the time. Once funded, trade with your normal risk % applied to max loss and you will be fine.
There are several ways to tackle phase 1, first off, you must know your winnig % and R:R.....you can then treat each challenge as an individual trade and try to pass quickly, understanding this will cost more but take less time to pass OR simply trade as normal but increase our risk to accomplish the target within the given time frame. Obviously, it is most beneficial to wait for setups that will provide 3:1 or better, hit one or two big ones and you should be able to crawl accross the target.
I posted acouple of times now regarding the numbers, if you can pass 1 out of 3 challenges, you only need a 1.3% profit on the funded account + the fee back on the passed account to be at break even......evrything above 1.3% is profitable. If you pass 1 out of 4, you need 2%, etc.
  • #17,659
  • Jul 11, 2023 11:30am Jul 11, 2023 11:30am
Quoting Inception12
{quote} Is the client MFF since they've been promising ctrader this year?
No its a broker.
  • #17,660
  • Jul 11, 2023 11:37am Jul 11, 2023 11:37am
Quoting beastwork
{quote} Are you saying that 10%/month is something that traders should legitimately aim for every time they open the terminal? And don't answer with "it's possible." I'm talking about realistic, repeatable outcomes for the average profitable trader.
@ 1% risk per trade, I would typically have 4 or 5 months a year that could pass MFF (>8%) and 3 maybe 4 months that could pass FTMO/TFF/TFT (>10%) phase 1s. The other months would end up slightly negative months blowing the challenge or require tons of extensions/retakes until I ran into 1 of the >8%/>10% months. @ 2% risk per trade I can turn my >4%/>5% months or 1/2 months into phase 1 winners.

Most of us here know what the game is. In most circumstances, you MUST gamble to pass 30d phase 1s. Some choose to continue to gamble and others trade more responsibly by dialing down their risk after passing.
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