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  • #21,161
  • Sep 8, 2023 8:42am Sep 8, 2023 8:42am
Quoting Tovip
{quote} The % of risk per trade depends on the winning rate of your trading system, and how much you win when you win, and vice versa. Winning rate alone doesn't mean much if your 99 green trades cannot cover the loss of your 1 red trade. So I suppose everyone here will have a different ans to your question. Just find a trading system that gives you an edge and has shown a consistency for at least 3 months. And stick to it. You can even modify/optimise it and backtest it again and repeat. And don't break the rules of the system. Even if you have...
I am profitable trader , basically i look for swings inside current session range. Trading itself is easy, getting the most of your profits this is art. So my win loss distribution is quite random because market conditions change from time to time. So when market is moving in my favour I can even hit 10 winners in a row but when structures of swings and volatility changes I hit drawdown. Just wonderingif there is better method of position sizing than trading same % of balance??
  • #21,162
  • Sep 8, 2023 8:47am Sep 8, 2023 8:47am
Quoting SirMcPip
{quote} I dont know that much about the 5ers myself, it is just my personal opinion based on my research. But if I had the immediate urge to spend money on challenges, I would not consider any other option. Thats just me and my opinion, based on what I personally would consider relevant for myself. But one thing is officially clear now. This business model in 90% of cases is exclusively based on collecting fees and only if that income stream can be upheld, will the business model survive. There is a reason why the CFTC called it a Ponzi-like business(not...
You are on the right track, the ID thing is a problem, especially in certain places of the world where it is like selling candy to kids. I know there are versions of me somewhere which really pisses me off, but that's another story! Anyway biometrics help a bit with that.

It wasn't long ago where I could recommend MFF and to be fair I still would because they paid out, my data appears to be secure (so far) and they regularly engaged with us. We have to remember they aren't guilty of anything..... yet. This whole thing has an agenda we are not privy to which smells commercial and not criminal, just my humble and totally unqualified opinion in the corner of an obscure thread that no lawyers read, and I'm based in a non extradited territory on a boat in international waters.
  • #21,163
  • Sep 8, 2023 8:47am Sep 8, 2023 8:47am
Any US trader here knows an unregulated forex broker without KYC that will not run away with my crypto deposit?
  • #21,164
  • Sep 8, 2023 8:54am Sep 8, 2023 8:54am
Quoting youngD
{quote} I am profitable trader , basically i look for swings inside current session range. Trading itself is easy, getting the most of your profits this is art. So my win loss distribution is quite random because market conditions change from time to time. So when market is moving in my favour I can even hit 10 winners in a row but when structures of swings and volatility changes I hit drawdown. Just wonderingif there is better method of position sizing than trading same % of balance??
I am not sure if it works for everyone but what I do these days, is simply focusing on a steady growth on the equity curve, no big ups and downs.

There are people who use martingale or use micro lots and slowly building positions. But these are all double edged swords. Just my 2 cents.
memento mori
  • #21,165
  • Sep 8, 2023 8:54am Sep 8, 2023 8:54am
The land of boiler room scams - Israel and binary scams - Israel is now giving us a lesson on legitimacy in prop firms? Please.

The tradernok guy now is showing his face, he is a failed trader with a law degree/knowledge looking to seek revenge on an industry seemingly to the benefit of someone. Who the fuck spends their time - anonymously on the internet - telling the world you are preparing official complaints to the FCA for money laundering. Official complaints general come from someone who is wronged by a company. The suspicion and language is amazing, also heaping praise on a guy (5ers) who seems wildly incompetent.

I wonder when he will publicly state that the MFF court date has been moved. Or does that not fit his narrative.
  • #21,166
  • Sep 8, 2023 9:05am Sep 8, 2023 9:05am
Quoting Takisd
The land of boiler room scams - Israel and binary scams - Israel is now giving us a lesson on legitimacy in prop firms? Please. The tradernok guy now is showing his face, he is a failed trader with a law degree/knowledge looking to seek revenge on an industry seemingly to the benefit of someone. Who the fuck spends their time - anonymously on the internet - telling the world you are preparing official complaints to the FCA for money laundering. Official complaints general come from someone who is wronged by a company. The suspicion and language...
It's so funny having an influencer, influencing future clients away from them. I really hope he's been paid as he's doing a cracking job. Bet this guy farts at parties too.

Edit: just read this line he's writing about his favourite prop "be respectful to the staff and be respectful to the firm".. ok then..
  • #21,167
  • Sep 8, 2023 9:15am Sep 8, 2023 9:15am
Quoting ForexGalVA
{quote} Matt says he is launching a new Futures company soon, MyFundedFutures. {image}
Pretty much the same boiler plate that all the other Funded Futures operate off of.

Your only option is a couple platforms, Ninjatrader and Tradovate. No MT5. Consistency rules that are lame af, etc.
Trade with confidence, trade without fear.
  • #21,168
  • Sep 8, 2023 9:16am Sep 8, 2023 9:16am
Quoting youngD
{quote} I am profitable trader , basically i look for swings inside current session range. Trading itself is easy, getting the most of your profits this is art. So my win loss distribution is quite random because market conditions change from time to time. So when market is moving in my favour I can even hit 10 winners in a row but when structures of swings and volatility changes I hit drawdown. Just wonderingif there is better method of position sizing than trading same % of balance??
If day trading I have small daily targets and stop all trading (normally 3 winners in a row). I go for 2:1 rr and will duke it out all day if I need to get back to break even or have a small losing day. Good conditions I might have 2 or 3 trades and be done quickly, shite days like yesterday I might have 25 trades and a 35% win rate and still not get to break even. I'm only doing this on prop, personal accounts I'll martingale the shit out of it.
  • #21,169
  • Sep 8, 2023 9:35am Sep 8, 2023 9:35am
Quoting Fagin
{quote} You are on the right track, the ID thing is a problem, especially in certain places of the world where it is like selling candy to kids. I know there are versions of me somewhere which really pisses me off, but that's another story! Anyway biometrics help a bit with that. It wasn't long ago where I could recommend MFF and to be fair I still would because they paid out, my data appears to be secure (so far) and they regularly engaged with us. We have to remember they aren't guilty of anything..... yet. This whole thing has an agenda we are...
I think you have a very valid argument here and as usual when it comes to government, the truth for me is mostly in the middle as well. As such, I believe its probably a hybrid between criminal and commercial. I think the CFTC will likely be able to prove the charges and the charges are not just some thin air but the reason the charges have been put together now is probably because of commercial interests. Anyway, lets see what happens after the first court date. I think at least it will be interesting if nothing else.
  • #21,170
  • Sep 8, 2023 9:42am Sep 8, 2023 9:42am
Quoting Fagin
{quote} If day trading I have small daily targets and stop all trading (normally 3 winners in a row). I go for 2:1 rr and will duke it out all day if I need to get back to break even or have a small losing day. Good conditions I might have 2 or 3 trades and be done quickly, shite days like yesterday I might have 25 trades and a 35% win rate and still not get to break even. I'm only doing this on prop, personal accounts I'll martingale the shit out of it.
What is your approach when things go wrong like yesterday, you decrease lot and try to recover slowly?? For me it works like this. Today seems good day by now, us30 going up and I assume we close at daily high. So I added one position and that it is, either stop loss or big profit, actually almost done with first phase of fxify challenge. But when things go wrong early the day this becomes problematic. Sometimes I end up with hitting daily loss limit for example and stop. Sometimes I recover and end up be or in profit. Recovery this is worst part for me
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  • #21,171
  • Sep 8, 2023 9:45am Sep 8, 2023 9:45am
Quoting SirMcPip
{quote} I think you have a very valid argument here and as usual when it comes to government, the truth for me is mostly in the middle as well. As such, I believe its probably a hybrid between criminal and commercial. I think the CFTC will likely be able to prove the charges and the charges are not just some thin air but the reason the charges have been put together now is probably because of commercial interests. Anyway, lets see what happens after the first court date. I think at least it will be interesting if nothing else.

if kazmi hasnt been charged criminally yet he may be at the court hearing on 9-11

i havent paid this saga much attention other than getting entertainment from the weasels continuing to defend the industry LOL but someone posted MFF hired trumps law firm...and we all know how his cases are going is what peaked my interest about MFF again LOL
short trump and go long the deepstate
  • #21,172
  • Sep 8, 2023 9:46am Sep 8, 2023 9:46am
Quoting Takisd
I wonder when he will publicly state that the MFF court date has been moved. Or does that not fit his narrative.
You knew by someone that it was that indeed moved or is just your hint ?
  • #21,173
  • Sep 8, 2023 9:48am Sep 8, 2023 9:48am
Quoting Capablanca
{quote} You knew by someone that it was that indeed moved or is just your hint ?
Its public record that its moved.
  • #21,174
  • Edited 10:01am Sep 8, 2023 9:51am | Edited 10:01am
Quoting youngD
{quote} What is your approach when things go wrong like yesterday, you decrease lot and try to recover slowly?? For me it works like this. Today seems good day by now, us30 going up and I assume we close at daily high. So I added one position and that it is, either stop loss or big profit, actually almost done with first phase of fxify challenge. But when things go wrong early the day this becomes problematic. Sometimes I end up with hitting daily loss limit for example and stop. Sometimes I recover and end up be or in profit. Recovery this is worst...
Hi this isn't really the thread for systems/risk etc. But quick answer would be stop trading when conditions are forcing losses consistently, know that your win/loss distribution is probably random. I look at my trades and think not about win accuracy but how I can make it profitable with 40% win rate and profit factor above 1.1
When my win rate increases due to random distribution(not my savant like skills on the mouse and chart) that's when I make money... So random distribution with PF above 1 and WR above 40% you've cracked it. But it is 100% mental.

Edit to demonstrate:
This makes about 0.8% to 1% per week based on a daily target of 0.25% sometimes its easy sometimes its not.. all single trades with no averaging or increases etc.

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  • #21,175
  • Sep 8, 2023 9:57am Sep 8, 2023 9:57am
Quoting youngD
sorry for off topic, but I like to ask you profitable traders about your best risk management approach. I mean how much % you risk per trade and is this well known model, risking same percentage per trade works best for you?? If not what type you prefer, martingale?? Same $ amount per trade?? The problem with same% risk is when u get in to drawdown you recover for long time. And benefit is when you loose you loose less. For me as day trader the problem is my trade distribution (wins losses) is quite random so I work with adding to winners trying...
I use very simple system. I normally risk 1-2% open trades total with RR 1:2 - 1:3. My winning rate is just under 60% so losses are well covereita with gains. If I have a losing strake let’s say 3-4 trades I normally reduce my exposure even to 0,5% . This is just to reduce stress and get over difficult periods. As already mentioned I am not saying this is best aproach or method but it works fine for me.
  • #21,176
  • Sep 8, 2023 10:20am Sep 8, 2023 10:20am
Quoting Zebi
{quote} if kazmi hasnt been charged criminally yet he may be at the court hearing on 9-11 i havent paid this saga much attention other than getting entertainment from the weasels continuing to defend the industry LOL but someone posted MFF hired trumps law firm...and we all know how his cases are going is what peaked my interest about MFF again LOL
That tells me Kazmi wants to behave unlawfully inside the frame of law. Or at least he wants to make it look like he was somewhat within the boundaries.
Must be an up and up branch of the legal firms to help certain people navigate the law spectrum without complying with the law. I guess loophole law that is.
  • #21,177
  • Sep 8, 2023 10:30am Sep 8, 2023 10:30am
Quoting Takisd
{quote} Its public record that its moved.
Do you know which date it has been moved to? Will be great if you can share a link or something. Have an account with MFF
memento mori
  • #21,178
  • Sep 8, 2023 10:36am Sep 8, 2023 10:36am
Quoting Tovip
{quote} Do you know which date it has been moved to? Will be great if you can share a link or something. Have an account with MFF
It is so public that google hasn't heard of it.
  • #21,180
  • Sep 8, 2023 10:40am Sep 8, 2023 10:40am
Quoting OutThere
{quote} It is so public that google hasn't heard of it.
I actually googled it...Couldn't find anything...But who knows, he might know something I don't know.

Will appreciate it if anyone has more info to share.
memento mori
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