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  • #18,161
  • Jul 21, 2023 3:55pm Jul 21, 2023 3:55pm
Quoting CableJ
Anybody change their phase 1 risk approach based on unlimited? Josh @ MFF mentioned that it's basically a marketing gimmick & not much will change. He also thinks less people will pass now since a large % that eventually passed phase 1 were lucky yolos at the end of 30d eval period. I'm not sure if I would rather.... a. 1-4 months to pass phase 1 @ responsible risk, not losing accounts but having to waste time digging out of potential drawdowns b. <1 month to pass @ gambling risk, blowing accounts 35-40% of the time but possibly passing 1-2 more...
I am weighing the same exact things.
The good thing about option a, if you copy trade on live, just add the evals into the mix, but as you said option b gets faster results and therefore profit quicker. So option b may cost more upfront, but your net profit will be larger within 3-4 months.
  • #18,162
  • Jul 21, 2023 5:36pm Jul 21, 2023 5:36pm
Quoting navk
{quote} whatever of Jessika... old. That does not matter now. she has now realized what is good for her. Criticising a trader or Fund owner individual who lost money..is not in good taste. Traders inspite of loosing stay on with ego. That is the difference. The fact is i was sympathetic to Jessika. Nothing more nothing less. I lost one challenge money with Funding talent.
She was good at marketing. She just chose the wrong way to do it. If she wasn't tainted with her taint, I would find somewhere for her to run marketing. But shes burned its done for her.
  • #18,163
  • Jul 21, 2023 5:47pm Jul 21, 2023 5:47pm
Quoting CableJ
Anybody change their phase 1 risk approach based on unlimited? Josh @ MFF mentioned that it's basically a marketing gimmick & not much will change. He also thinks less people will pass now since a large % that eventually passed phase 1 were lucky yolos at the end of 30d eval period. I'm not sure if I would rather.... a. 1-4 months to pass phase 1 @ responsible risk, not losing accounts but having to waste time digging out of potential drawdowns b. <1 month to pass @ gambling risk, blowing accounts 35-40% of the time but possibly passing 1-2 more...
Always there is one factor people don't bring in and that is emotions. Its like when people say "oh you should just copy the profitable traders". How do you know that profitable trader isnt going to come home drunk and full of ego and blow the account? I use this example because of one of my accounts i ran up a long time again on northfinance (now fxpro) where I lost 900k because of a bottle of jack and my bloated ego.

Same goes with evaluations and challenges. If its not 30 days, its 60 if its not 60 its 90 if its not 90 its unlimited, either way the traps of trading will remain. Using chance as a factor, the shorter the period the higher probability that more people get lucky because more people will flip that coin. If less people flip, less likely to get lucky until they figure out how to game the new conditions.

The best way in my opinion to pass is to be sure of your strategy and try to take a measured approach that passes you quicker, i tend to aim for first two weeks of the account. The longer an account goes on, whatever account it is, the more likely it is to lose and if I hit DD on the second week I tend to give up on the account anyway.

Lately I only take 2-5 trades per month on the funded accounts i take seriously and like 50 per month on the 8crap ones, purpose of the 2-5 is longevity and so far it has served me well and paid the medical bills. I think that people don't really fail in their approach during the challenge phases even when it was 30 days, I think that keeping the funded is the hardest task people have and from how it seems, most fail at it.
  • #18,164
  • Edited 6:38pm Jul 21, 2023 6:24pm | Edited 6:38pm
Emotions :

I had this today. My experience.

I signed up new 100 k eval phase 1 just yesterday. with MFF

1 ) Found an accurate entry long entry at 1 am est in gbp usd. Yesterday. ( Thursday )

Took long that time and booked my proffit 1123 $ before NY close at 5 pm est fearing wider spread at asia open.

2 ) Continued with gbpusd long entry after few hours in asia... and had 10.5 lots long entry in gbpusd. With stop in place

There was news around 2 am est..( gbp news ) and price spiked as expected. I saw a very nice profit after news spike..close to 4000 Dollars.

Here comes emotion. I could have booked 4k profit and made total of 5.52k. But the greed ...made me to stay on in the trades.

The price reversed to take my stop loss. Night time 2 am est. my sleeping time. Slept and stop loss hit.

Result ? Overall loss 2.5 k

I then made some profits in NY session and made my account balance to 98215 $.

Lessons learnt after so many years of trading. Emotion, fear, greed.
Intraday only.
  • #18,165
  • Jul 21, 2023 6:36pm Jul 21, 2023 6:36pm
If I can overcome the emotions, I can pass evealuations in the future at my will.

Lesson is risk/reward.

Disappointed with myself and hence this post after Market close
Intraday only.
  • #18,166
  • Jul 21, 2023 8:14pm Jul 21, 2023 8:14pm
Quoting navk
{quote} whatever of Jessika... old. That does not matter now. she has now realized what is good for her. Criticising a trader or Fund owner individual who lost money..is not in good taste. Traders inspite of loosing stay on with ego. That is the difference. The fact is i was sympathetic to Jessika. Nothing more nothing less. I lost one challenge money with Funding talent.
This is the woman who when called out said, and I quote, "I'm traveling in a private jet on your dime bitch".

Then cried some crocodile tears when things came crashing down.

So, pardon me for my lack of compassion.
Pride always comes before destruction.... -Proverbs 16:18
  • #18,167
  • Jul 21, 2023 8:22pm Jul 21, 2023 8:22pm
Quoting Expo33
{quote} This is the woman who when called out said, and I quote, "I'm traveling in a private jet on your dime bitch". Then cried some crocodile tears when things came crashing down. So, pardon me for my lack of compassion.
I understand.

She had it for her behaviour. That is why now she is new woman and seems to have realized.

We too, as traders in our journey pay the price for arrogance, attititude.

Earth is round. Will not take much time to rotate any one down.
Intraday only.
  • #18,168
  • Jul 22, 2023 12:22am Jul 22, 2023 12:22am
Quoting navk
Emotions : I had this today. My experience. I signed up new 100 k eval phase 1 just yesterday. with MFF 1 ) Found an accurate entry long entry at 1 am est in gbp usd. Yesterday. ( Thursday ) Took long that time and booked my proffit 1123 $ before NY close at 5 pm est fearing wider spread at asia open. 2 ) Continued with gbpusd long entry after few hours in asia... and had 10.5 lots long entry in gbpusd. With stop in place There was news around 2 am est..( gbp news ) and price spiked as expected. I saw a very nice profit after news spike..close to...
Awesome navk,

We've all done this and those that haven't, haven't traded yet. A simple hard rule would stop this. That's for the individual to work out on a personal level.

All the best.
  • #18,169
  • Jul 22, 2023 12:33am Jul 22, 2023 12:33am
Quoting navk
{quote} I understand. She had it for her behaviour. That is why now she is new woman and seems to have realized. We too, as traders in our journey pay the price for arrogance, attititude. Earth is round. Will not take much time to rotate any one down.
Same old fake dishonest woman trying to create a new brand.

Turns out no one's buying her new shtick so she gives us the "poor me I have to leave the space" routine.

Don't get me wrong if I relapsed and drank 37 beers I'd be the first guy in line to black out and ask her out on a date.
Pride always comes before destruction.... -Proverbs 16:18
  • #18,170
  • Jul 22, 2023 2:27am Jul 22, 2023 2:27am
Quoting navk
{quote} I understand. She had it for her behaviour. That is why now she is new woman and seems to have realized. We too, as traders in our journey pay the price for arrogance, attititude. Earth is round. Will not take much time to rotate any one down.
We, traders, also pay the price, you're right Nav. But we, individuals, are not selling anything and Jessica was joking with customers who paid challenges to her with their hard earned money. Maybe I'm too cynical but I don't believe in redemption in a person like Jessica.
  • #18,171
  • Jul 22, 2023 2:32am Jul 22, 2023 2:32am
Quoting navk
I could have booked 4k profit and made total of 5.52k. But the greed ...made me to stay on in the trades. The price reversed to take my stop loss. Night time 2 am est. my sleeping time. Slept and stop loss hit. Result ? Overall loss 2.5
You set you SL when you had 4K profit.
You ended up with a 2.5K loss which means you lost those 4K + 2.5K. That's -6.5K.
I wonder how much you though you could get above the +4K to be risking these 6.5K.
I'm not bragging you. I'm just trying o understand your R/R in this trade because to me this seems too much.
  • #18,172
  • Jul 22, 2023 2:39am Jul 22, 2023 2:39am
Quoting CableJ
Anybody change their phase 1 risk approach based on unlimited? Josh @ MFF mentioned that it's basically a marketing gimmick & not much will change. He also thinks less people will pass now since a large % that eventually passed phase 1 were lucky yolos at the end of 30d eval period. I'm not sure if I would rather.... a. 1-4 months to pass phase 1 @ responsible risk, not losing accounts but having to waste time digging out of potential drawdowns b. <1 month to pass @ gambling risk, blowing accounts 35-40% of the time but possibly passing 1-2 more...
No changes so far. The only change, in fact, is that I won't be forced to do a big coin flip to try to get a retry when I'll be approaching the time limit of 30/60 days or so. I can go on without worries.
  • #18,173
  • Jul 22, 2023 2:54am Jul 22, 2023 2:54am
Quoting Expo33
{quote} Same old fake dishonest woman trying to create a new brand. Turns out no one's buying her new shtick so she gives us the "poor me I have to leave the space" routine. Don't get me wrong if I relapsed and drank 37 beers I'd be the first guy in line to black out and ask her out on a date.
only 37?
  • #18,174
  • Jul 22, 2023 3:04am Jul 22, 2023 3:04am
Quoting navk
I understand. She had it for her behaviour.
-In life, it matters less what other people do, and more how we choose to respond. Just like with trading, you can choose to learn from your mistakes, grow and become better, or, you can choose to get upset, quit, and/or repeat your mistakes etc..

Also in life, similar with trading, we are in constant battle with ego. This is why making profits is more important than being right. It is best to let the market show you where it wants to go in lieu of trying to force your will and expectations onto the market. Adapt to changes quickly and flow with the market; do not let your ego prevent you from securing profit simply because being wrong is too challenging to accept.
  • #18,175
  • Jul 22, 2023 3:15am Jul 22, 2023 3:15am
Quoting navk
{quote} I understand. She had it for her behaviour. That is why now she is new woman and seems to have realized. We too, as traders in our journey pay the price for arrogance, attititude. Earth is round. Will not take much time to rotate any one down.
I don't think she's changed.

However, the circumstances have changed.
  • #18,176
  • Jul 22, 2023 3:45am Jul 22, 2023 3:45am
Quoting navk
Emotions : I had this today. My experience. I signed up new 100 k eval phase 1 just yesterday. with MFF 1 ) Found an accurate entry long entry at 1 am est in gbp usd. Yesterday. ( Thursday ) Took long that time and booked my proffit 1123 $ before NY close at 5 pm est fearing wider spread at asia open. 2 ) Continued with gbpusd long entry after few hours in asia... and had 10.5 lots long entry in gbpusd. With stop in place There was news around 2 am est..( gbp news ) and price spiked as expected. I saw a very nice profit after news spike..close to...
Thanks for sharing such experiences. Not something one sees much of in boards like this. But its in such situations we learn the most and to others as well. Good to see that not everyone feel the need to brag to inflate the ego.
This greed feeling is something I noticed myself to prevail even after years. How it can quickly take over in a second. The only antidote I know of is using strict profit levels. But then again thats a method which isnt suitable to all and even all markets. Then to repeat over and over again til the mind eventually isn't allowed to react to that greed feeling. But it takes constant practise it seems.
Especially with prop firms the greed can easily takes over and thinking its so close the target, if one is in eval.
  • #18,177
  • Jul 22, 2023 3:46am Jul 22, 2023 3:46am
Quoting labu
{quote} Thanks for sharing such experiences. Not something one sees much of in boards like this. But its in such situations we learn the most and to others as well. Good to see that not everyone feel the need to brag to inflate the ego. This greed feeling is something I noticed myself to prevail even after years. How it can quickly take over in a second. The only antidote I know of is using strict profit levels. But then again thats a method which isnt suitable to all and even all markets. Then to repeat over and over again til the mind eventually...
Another method is your gut feeling - when you start trying to talk yourself out of taking profits, take half off. This has saved me countless of times.
  • #18,178
  • Jul 22, 2023 3:48am Jul 22, 2023 3:48am
Quoting LehmanBrotha
{quote} I don't think she's changed. However, the circumstances have changed.
I wasn't around during the era this woman acted unruly. But what I don't understand why everyone get so hyped about a woman here. Is it because women traders are rare. Or something else...
  • #18,179
  • Jul 22, 2023 4:47am Jul 22, 2023 4:47am
Quoting Nsak3y
{quote}-In life, it matters less what other people do, and more how we choose to respond. Just like with trading, you can choose to learn from your mistakes, grow and become better, or, you can choose to get upset, quit, and/or repeat your mistakes etc.. Also in life, similar with trading, we are in constant battle with ego. This is why making profits is more important than being right. It is best to let the market show you where it wants to go in lieu of trying to force your will and expectations onto the market. Adapt to changes quickly and flow...
So true & I agree. It took me awhile to realize this. Never blew an account but lost enough to humble me. Most of the time we as Traders are a victim of our on circumstances. Ego, greed & fear are a bad combination. The market will always be right. "It is best to let the market show you where it wants to go."
  • #18,180
  • Jul 22, 2023 5:15am Jul 22, 2023 5:15am
Quoting acetrader
So true & I agree. It took me awhile to realize this. Never blew an account but lost enough to humble me. Most of the time we as Traders are a victim of our on circumstances. Ego, greed & fear are a bad combination. The market will always be right. "It is best to let the market show you where it wants to go."
-Yes. Take profits as soon as reasonably possible. Minimize exposure to market and do not over-trade. Do not let ego, greed or emotions interfere with what you are doing. Being profitable matters more than being right, beating personal records and/or having a good win-rate percentage etc..

I always say that profiting from the market is easy. Learning how to not give it all back is the hard part. The best traders will be those that can learn how to lose properly.
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