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  • #18,281
  • Jul 27, 2023 11:30am Jul 27, 2023 11:30am
Faster payouts is the race to the bottom. From the two phases and 1 week or 2 weeks, you cannot effectively make a decision to manage risk on someone.

Whilst the end is coming slow, I believe its coming.
  • #18,282
  • Jul 27, 2023 11:34am Jul 27, 2023 11:34am
Quoting Takisd
Faster payouts is the race to the bottom. From the two phases and 1 week or 2 weeks, you cannot effectively make a decision to manage risk on someone. Whilst the end is coming slow, I believe its coming.
The end of what?
  • #18,283
  • Jul 27, 2023 11:39am Jul 27, 2023 11:39am
Quoting noox
{quote} The end of what?
prop firm bubble.
  • #18,284
  • Jul 27, 2023 11:41am Jul 27, 2023 11:41am
Quoting Takisd
{quote} prop firm bubble.
Yes, everyone should make an effort to be sure they are with the ones that wil survive. Just a headsup......
  • #18,285
  • Jul 27, 2023 11:52am Jul 27, 2023 11:52am
Quoting Takisd
Faster payouts is the race to the bottom. From the two phases and 1 week or 2 weeks, you cannot effectively make a decision to manage risk on someone. Whilst the end is coming slow, I believe its coming.
So far, if my memory is right, we had FXIFY with 24 hours payout for first payout (then monthly or biweekly), Finotive with 2 trading days for first payout and then weekly and E8 with 8 calendar days and then biweekly. I hope I'm not messing anything.

Anyway Takisd, today people already can pass in a couple of hours and then, not having minimum trading days for withdraws, they can make one huge trade and then sit and wait for the payout in 30 days, if that's the case. One month doesn't seem to make a lot of difference for risk management.
  • #18,286
  • Jul 27, 2023 12:03pm Jul 27, 2023 12:03pm
Quoting Capablanca
{quote} So far, if my memory is right, we had FXIFY with 24 hours payout for first payout (then monthly or biweekly), Finotive with 2 trading days for first payout and then weekly and E8 with 8 calendar days and then biweekly. I hope I'm not messing anything. Anyway Takisd, today people already can pass in a couple of hours and then, not having minimum trading days for withdraws, they can make one huge trade and then sit and wait for the payout in 30 days, if that's the case. One month doesn't seem to make a lot of difference...
I didn't know FXIFY has 24 hours payout.. is FXIFY a good one to try?
  • #18,287
  • Jul 27, 2023 12:19pm Jul 27, 2023 12:19pm
Quoting Boulder
{quote} I didn't know FXIFY has 24 hours payout.. is FXIFY a good one to try?
Vitore got already several payouts. I got one and will be soon getting the second (fingers crossed).
And, yes, as soon as you have a profit you can request the payout (and refund). I got mine (and refund) in less than 24 hours after I got funded, so I'm in a free ride with them.
They don't pay in crypto, though. Only Deel (and I think bank wire as well).

Rules are pretty basic, nothing shady as far as I saw before joining them.

Their pricing structure is somehow different from other props. They have a base price and then additional addon for what you want (for example 90% instead of 75%, biweekly instead of monthly, etc.).

Now they have also 2 options of raw spreads + commission but better execution and free commission (with wider spreads and worse execution).

A rule worth to note is that they don't allow to have 2 challenges active. You can only buy a second challenge after the first one achieve funded status (or blow up).

If they are good ? So far yes but they only launched in May or so. Not much time yet to hear stories of malpractices and so. Let's see.
  • #18,288
  • Jul 27, 2023 12:21pm Jul 27, 2023 12:21pm
Quoting Capablanca
{quote} Vitore got already several payouts. I got one and will be soon getting the second (fingers crossed). And, yes, as soon as you have a profit you can request the payout (and refund). I got mine (and refund) in less than 24 hours after I got funded, so I'm in a free ride with them. They don't pay in crypto, though. Only Deel (and I think bank wire as well). Rules are pretty basic, nothing shady as far as I saw before joining them. Their pricing structure is somehow different from other props. They have a base price and then additional addon...
Thank you for the info. I may give them a try soon
  • #18,289
  • Jul 27, 2023 12:28pm Jul 27, 2023 12:28pm
Quoting Capablanca
{quote} So far, if my memory is right, we had FXIFY with 24 hours payout for first payout (then monthly or biweekly), Finotive with 2 trading days for first payout and then weekly and E8 with 8 calendar days and then biweekly. I hope I'm not messing anything. Anyway Takisd, today people already can pass in a couple of hours and then, not having minimum trading days for withdraws, they can make one huge trade and then sit and wait for the payout in 30 days, if that's the case. One month doesn't seem to make a lot of difference for risk management....
Sure. And when I have spare time i definitely dabble in the clown shows. Just viability is way off, its a race to the bottom.
  • #18,290
  • Jul 27, 2023 3:22pm Jul 27, 2023 3:22pm
FREE RETAKE OR EXTENSION or Unlimited
You have to make a difference, for extension you have to be in profit, for free retake you have to not touch the limit, Maximum Loss.
an example, count $100k maximum loss $90k, if you are at $91k you are entitled to free retake when the time period ends 30 days, you start a new account at $100k, but with this Unlimited condition you always have to recover the account from $91k, then get to $100k and then make 10%, is it correct?
welcome to Paradise
Be happy, friendly, humble and winner!!
  • #18,291
  • Jul 27, 2023 3:29pm Jul 27, 2023 3:29pm
Quoting Ak386
FREE RETAKE OR EXTENSION or Unlimited You have to make a difference, for extension you have to be in profit, for free retake you have to not touch the limit, Maximum Loss. an example, count $100k maximum loss $90k, if you are at $91k you are entitled to free retake when the time period ends 30 days, you start a new account at $100k, but with this Unlimited condition you always have to recover the account from $91k, then get to $100k and then make 10%, is it correct? welcome to Paradise
Free reatkes only occurred if account was in profit and no rules were violated. You did not get a free reatke if account was negative, even if -$1.
  • #18,292
  • Jul 27, 2023 11:10pm Jul 27, 2023 11:10pm
Quoting Capablanca
{quote} Vitore got already several payouts. I got one and will be soon getting the second (fingers crossed). And, yes, as soon as you have a profit you can request the payout (and refund). I got mine (and refund) in less than 24 hours after I got funded, so I'm in a free ride with them. They don't pay in crypto, though. Only Deel (and I think bank wire as well). Rules are pretty basic, nothing shady as far as I saw before joining them. Their pricing structure is somehow different from other props. They have a base price and then additional addon...
e8 also charges a lot via spread, commissions and negative swaps, no matter buy or sell, always big negative swap
and never ever try to trade crypto on weekends you will die watching commission charges on crypto
  • #18,293
  • Jul 28, 2023 12:28am Jul 28, 2023 12:28am
okay mff account verified, all documents uploaded, contract signed, all done
will formulate conservative risk management rules for live account
i have today, and next 2 week days saturday and sunday
will start trading live account from 31st july, 2023 monday the last day of the month, closing
lets see how it goes target will be to make 7% to 10% on live account (time i don't know lets say 20 trading days)
profit generation of 350 $ to 500 $ with refund of 49 $ fees
payout target is 280 $ + 49 $ = 329 $ approx
or 400 $ + 49 $ = 449 $ approx
will then buy back the 50k evaluation account for 299 $
wish me luck.. any guidances are welcome
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  • #18,294
  • Jul 28, 2023 5:07am Jul 28, 2023 5:07am
Don't know why many props have this kind of behaviour in pricing the challenges,

in TFF you can choose at the same price of 98 euro, for a timeless 10K challange,

to get 10000USD or 10000 EUR or 10000 GBP

of course to get 10.000GBP will be much bigger account in $ value

what do you think about this?
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in holiday till end of November
  • #18,295
  • Jul 28, 2023 5:47am Jul 28, 2023 5:47am
Quoting forexbali
Don't know why many props have this kind of behaviour in pricing the challenges, in TFF you can choose at the same price of 98 euro, for a timeless 10K challange, to get 10000USD or 10000 EUR or 10000 GBP of course to get 10.000GBP will be much bigger account in $ value what do you think about this? {image}
If max DD is the same 1.000 USD (although converted to GBP) then it's not an advantage.

However if they provide 10% max DD, for example 1.000 GBP or 1.000 USD for the same price then, yes, they are giving additional money for the same price (I never looked into this)
  • #18,296
  • Jul 28, 2023 9:12am Jul 28, 2023 9:12am
Quoting Ak386
FREE RETAKE OR EXTENSION or Unlimited You have to make a difference, for extension you have to be in profit, for free retake you have to not touch the limit, Maximum Loss. an example, count $100k maximum loss $90k, if you are at $91k you are entitled to free retake when the time period ends 30 days, you start a new account at $100k, but with this Unlimited condition you always have to recover the account from $91k, then get to $100k and then make 10%, is it correct? welcome to Paradise
free retakes are given only when you have a positive balance, 100000.50$ from your example. 99000$ is not given retakes. i blew many mff accounts because i had slightly drowdown in 30 day period. since they made unlim, i didnt blew any acc yet. so unlim helps many not to blew accs)))
  • #18,297
  • Jul 28, 2023 9:54am Jul 28, 2023 9:54am
Quoting jamboole
{quote} free retakes are given only when you have a positive balance, 100000.50$ from your example. 99000$ is not given retakes. i blew many mff accounts because i had slightly drowdown in 30 day period. since they made unlim, i didnt blew any acc yet. so unlim helps many not to blew accs)))
MFF announced unlimited days two weeks ago. It is too early to say unlimited helps many not to blow accounts.
  • #18,298
  • Jul 28, 2023 11:44am Jul 28, 2023 11:44am
Quoting jamboole
{quote} free retakes are given only when you have a positive balance, 100000.50$ from your example. 99000$ is not given retakes. i blew many mff accounts because i had slightly drowdown in 30 day period. since they made unlim, i didnt blew any acc yet. so unlim helps many not to blew accs)))
Ok this makes me curious. Since in theory it would take longer to blow up accounts now. For those who are newbies like me. But now its a more steady longer process down I would figure. Since people still trade the same unless they are given a constrained environment and forced to do better. But of course I could be wrong. But it would make no sense if newbies suddenly out of nowhere performed in a steady movement up instead.
  • #18,299
  • Jul 28, 2023 11:57am Jul 28, 2023 11:57am
Quoting labu
{quote} Ok this makes me curious. Since in theory it would take longer to blow up accounts now. For those who are newbies like me. But now its a more steady longer process down I would figure. Since people still trade the same unless they are given a constrained environment and forced to do better. But of course I could be wrong. But it would make no sense if newbies suddenly out of nowhere performed in a steady movement up instead.
TBH, nobody should even be attempting prop firms UNLESS you are already profitable. Prop firms SHOULD exist for those who are profitable, but under capitalized. Of course, this is not how it works, as brand new traders think they are going to pass challenges and be trading 2 million dollars in 3 months.
If one is profitable, unlimited time is a HUGE advantadge, the big downfall of the challenges was being forced to hit a target within a time frame. This leads to forced trading, over risking, etc. That is no longer an issue.
If one is not profitable, the time to pass will not make a difference, in this case, yes, it may simply take longer to fail.
  • #18,300
  • Jul 28, 2023 12:04pm Jul 28, 2023 12:04pm
Quoting labu
{quote} Ok this makes me curious. Since in theory it would take longer to blow up accounts now. For those who are newbies like me. But now its a more steady longer process down I would figure. Since people still trade the same unless they are given a constrained environment and forced to do better. But of course I could be wrong. But it would make no sense if newbies suddenly out of nowhere performed in a steady movement up instead.
If you are a newbie check some of the charts i posted, they should help you
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