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  • #34,801
  • Apr 12, 2024 6:15am Apr 12, 2024 6:15am
Quoting Capablanca
{quote} A couple of hours after announcing +/- 10min news and crude inventories counting for USD pairs, now they decreased to 5min and crude inventories don't affect USD any longer. And Dylan always bragging that E8 makes the moves slowly and after deep thought. What a joke from E8. Prohibited Actions During the prohibition period, users are prohibited from: a. Opening new trades (Market Execution/Limit orders). b. Stop/Loss and Take/Profit c. Buy Stop and Sell Stop Please note, that if your Stop Loss or Take Profit orders are executed within the...
having news TP restrictions on trades that are potentially running for hours, if not days, is criminal.
  • #34,802
  • Apr 12, 2024 6:23am Apr 12, 2024 6:23am
Quoting maltrader
{quote} First month is 90% off and if you don't pass within 1 month, it's 175/month. If you don't pass, just terminate the account. They always have 90% discounts. Once you pass, you can pay a one off or monthly fee. One-off is cheaper as long as you don't blow the account within 1 month.
Thanks
Now I have $20k+ from 4 propfirm wait till next week to WD
But I'm bit worried with current situation
  • #34,803
  • Apr 12, 2024 6:24am Apr 12, 2024 6:24am
Quoting Vitore
{quote} Right now I'm only with FXIFY and Funded Engineer I lost accounts I had with Funding Pips, Swift Funding and The Trading Pit. I don't plan to do any more evaluations with the first two though they were ok and both paid me more than once without issues. So I consider them safe. The last one is closed for me for my aggressive trading style but otherwise they were one of the bests and paid me many times without any issues or delays.
Thanks !
I read here that Swift Trading = MFFx
  • #34,804
  • Apr 12, 2024 6:27am Apr 12, 2024 6:27am
Quoting LehmanBrotha
{quote} having news TP restrictions on trades that are potentially running for hours, if not days, is criminal.
It's simply stupid.

Swing traders are not supposed to be watching their trades several times a day.

If someone trades 2 lots on a 100K, with a SL of 0.5% and a TP of 1.5% and SL/TP happens to be hit during news, after 3 days running, is that a bad risk management/gambling ?!

This news rule just shows how props want to manage our risk instead of managing their risk with proper rules that would prevent big wins during news. It's the lazy and incompetent solution.
  • #34,805
  • Apr 12, 2024 6:30am Apr 12, 2024 6:30am
Quoting Capablanca
{quote} Thanks ! I read here that Swift Trading = MFFx
I only know that MattL is one of the owners. They are FPFX backed (so I'm actually banned from buying more challenges) but still I could trade and was being paid out
Money is made by sitting, not trading
  • #34,806
  • Apr 12, 2024 7:01am Apr 12, 2024 7:01am
One topic of interest please: any bets when mt4 would cease to exist?

MetaQ are pushing for 6+ years now for industry to move on MT5. Probably we would need to translate all of personal mql4 to the mql5, to be in Line.
  • #34,807
  • Apr 12, 2024 7:18am Apr 12, 2024 7:18am
Any Nova users having issues connecting to the server?
  • #34,808
  • Apr 12, 2024 7:20am Apr 12, 2024 7:20am
Quoting Capablanca
{quote} It's simply stupid. Swing traders are not supposed to be watching their trades several times a day. If someone trades 2 lots on a 100K, with a SL of 0.5% and a TP of 1.5% and SL/TP happens to be hit during news, after 3 days running, is that a bad risk management/gambling ?! This news rule just shows how props want to manage our risk instead of managing their risk with proper rules that would prevent big wins during news. It's the lazy and incompetent solution.
It's almost comical watching a different firm everyday trying to invent new ways of not paying people. They just refuse to throw in the towel and come out and say...."We're insolvent, nobody is paying for challenges, therefore we cannot pay you" They literally take everyone for idiots, with this, "it's to control risk and protect you, our cherished trader." bullshit spin they put on every new rule. How do they expect folks to trade when they change the rules daily?
I was once one of the biggest pro-prop firm advocates and have become one of the biggest anti-prop (forex) simply due to the garbage that is left.
MFF 2024!!!!!!!
  • #34,809
  • Apr 12, 2024 7:38am Apr 12, 2024 7:38am
I agree with the news rules.

I agree with the news rules because a) The swing trader who holds for days and gets triggered during news is almost no-one. Its likely the very very vast minority of people closing trades during news. b) Trading news spikes is gambling. and a very large portion of retail buffoons who believe instagram influencers are trying to get rich trading news spikes.

For the swing traders, there is always the FTMO swing account I guess. Or just riding out the wave for 2 minutes during the announcement. Whatever it may be, I feel for the swing traders, I truly do, but you are the minority by far.

I will not whine about news rules. Kind of glad they are here as it means prop survivability increases. Now for the risk management rules, which are coming, wait till you see them.

Still grinding away at my fortraders account, their risk management rule is interesting. The failure rate must be really high with them because it is not possible to pass in 1 regular day trade. A sustainable model, but for sure unpopular.
  • #34,810
  • Apr 12, 2024 7:38am Apr 12, 2024 7:38am
Quoting Capablanca
{quote} A couple of hours after announcing +/- 10min news and crude inventories counting for USD pairs, now they decreased to 5min and crude inventories don't affect USD any longer. And Dylan always bragging that E8 makes the moves slowly and after deep thought. What a joke from E8. Prohibited Actions During the prohibition period, users are prohibited from: a. Opening new trades (Market Execution/Limit orders). b. Stop/Loss and Take/Profit c. Buy Stop and Sell Stop Please note, that if your Stop Loss or Take Profit orders are executed within the...
They deserve a good flogging for that bullcrap. They just terminated all swing traders.
  • #34,811
  • Apr 12, 2024 7:43am Apr 12, 2024 7:43am
Quoting Takisd
I agree with the news rules. I agree with the news rules because a) The swing trader who holds for days and gets triggered during news is almost no-one. Its likely the very very vast minority of people closing trades during news. b) Trading news spikes is gambling. and a very large portion of retail buffoons who believe instagram influencers are trying to get rich trading news spikes. For the swing traders, there is always the FTMO swing account I guess. Or just riding out the wave for 2 minutes during the announcement. Whatever it may be, I feel...
They should have implemented it like The5ers did. And besides, it's all fake and "simulated" anyway.
  • #34,812
  • Apr 12, 2024 8:06am Apr 12, 2024 8:06am
If I were to make a news rule, it would be that the server is set to close only for the hour leading up to and 15 minutes after the news announcement. Anyone who closes their trade during this period receives no penalty.

But then the scalpers will cry too. Its impossible to win in these scenarios really.
  • #34,813
  • Apr 12, 2024 8:12am Apr 12, 2024 8:12am
Quoting Takisd
I agree with the news rules. I agree with the news rules because a) The swing trader who holds for days and gets triggered during news is almost no-one. Its likely the very very vast minority of people closing trades during news.
It's incompetence IMO.
It would be enough if they said that the news rule would not apply to any trade opened for more than 3 hours (or whatever they think). That's how 5ers does (unofficially).
  • #34,814
  • Apr 12, 2024 8:21am Apr 12, 2024 8:21am
Quoting Capablanca
{quote} It's incompetence IMO. It would be enough if they said that the news rule would not apply to any trade opened for more than 3 hours (or whatever they think). That's how 5ers does (unofficially).
That also could be a good idea. But just setting close only would resolve it i think so long as its close only for a long enough period of time to deter the cheats.

Or you can do MFF and just remove all filters and caps on news and let the market eat people. Its more fun.
  • #34,815
  • Apr 12, 2024 8:35am Apr 12, 2024 8:35am
Quoting Takisd
Or you can do MFF and just remove all filters and caps on news and let the market eat people. Its more fun.
The best solution. No trade restrictions and market conditions.

Man, I miss so much MFF Discord on those NFP and CPI days....
  • #34,816
  • Apr 12, 2024 8:56am Apr 12, 2024 8:56am
Just received email I'm not allowed use pending order EA
From alpha capital that's funny
3 payout and one more to come now I'm his threat
  • #34,817
  • Apr 12, 2024 9:31am Apr 12, 2024 9:31am
Found this on reddit https://www.reddit.com/r/Daytrading/...bts/?rdt=47463
Regarding Apex...
A rapid scalper if its true and his "friend" got banned for being a rapid scalper as I understand. Stumbled upon this as I research and have doubts that these prop firms like real traders aka scalpers who truly can scrape the markets. So I personally think that reply is real.
Some said that they dont think they can copy and verify the trades fast enough for rapid scalpers thus just ban them.

Scalping quick is the only real edge against HFT or to meet on similar terms but in reality 1000x terms apart from each other as HFT bots trades at like what nanoseconds and these prop firms whine when someone trades at thousands times slower than HFT bots, the bots which now dominate the market and increasingly does so to futures at least. Im just tossing it out there this happened 8 months ago tho. Maybe they suddenly changed and truly like these profitable scalpers nowadays but I doubt it. Shall see about that...
  • #34,818
  • Apr 12, 2024 9:38am Apr 12, 2024 9:38am
Quoting labu
Found this on reddit https://www.reddit.com/r/Daytrading/...bts/?rdt=47463 Regarding Apex... A rapid scalper if its true and his "friend" got banned for being a rapid scalper as I understand. Stumbled upon this as I research and have doubts that these prop firms like real traders aka scalpers who truly can scrape the markets. So I personally think that reply is real. Some said that they dont think they can copy and verify the trades fast enough for rapid scalpers thus just ban them. Scalping quick is the...
If it were true as of 8 months ago, it would probably be known. Reddit is the worst place for factual information.
Trade with confidence, trade without fear.
  • #34,819
  • Apr 12, 2024 9:43am Apr 12, 2024 9:43am
Quoting Cryptosurf
{quote} If it were true as of 8 months ago, it would probably be known. Reddit is the worst place for factual information.
Just found this on apex webpage.
"Allow scalping. (Some companies require entries and exits must be 10 seconds apart.) "

According to their bot they even allow less than 10 seconds.
It would been known more probably if others would have encountered it and if Apex didnt stick to their own rules. But Im just tossing it out there. Could also be so that few rapid scalpers exist like that and thus its not that known or who even bothers with prop firms.
Then if it would happen to that few rapid scalpers they would just not say a word and just move on. As I would have.
  • #34,820
  • Apr 12, 2024 9:43am Apr 12, 2024 9:43am
I just received this from FundedElite for denying my funded account:

"Our system flagged your account, prompting a thorough review of all associated accounts and trading history by our analyst. It appears that numerous positions were opened simultaneously at several instances. This practice violates our Terms of Service as positions cannot be opened at such a high frequency.

As a result, we are unable to upgrade your account. However, we believe in providing second chances and are prepared to offer you a new account. This account will need to be managed in accordance with our rules, and we hope you will successfully pass this opportunity."

I have some times opened for example 4-5 0.05 lots in short intervals on my 25K account in order to avoid slippage and kept the trades open for several hours. They call this HFT trading. So in their books books just opening several trades close to each other is HFT.

Stay away from this prop as they will come up with any excuse for not to pay you. They have also lately been changing their rules on the fly. Now for example opening and closing a trade under 3 minutes is also HFT. They are definitely sinking.
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