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- madpips replied Aug 10, 2022
I'm not sure what you mean by not being allowed to compound to get to the 10%. You mean as the account grows, you're not allowed gradually increase the lot size accordingly? I selected the NCA, not the CEA, for this purpose but I'm not sure if the ...
- madpips replied Aug 9, 2022
I just noticed the fine print at MFF on using an EA. They require that you don't have more than 2 hedged positions and, you must give them your source code. I won't be using MFF or any prop firm for that matter because I assume they will all have ...
- madpips replied Aug 9, 2022
Thanks for the spreadsheet. It's a good overview but each column would have a different weight for different traders since different things are important to different traders which would result in different scores altogether for each trader. For ...
- madpips replied Aug 9, 2022
Once the challenge fee is recovered, I don't understand how I would be losing money. Please clarify. I would also eventually trade my own account but this is a good place to start. Assuming I survive the challenge.
- madpips replied Aug 9, 2022
What is the thing to be learned? I'm not understanding what is detrimental by choosing Rapid over Evaluation. Please clarify.
- madpips replied Aug 9, 2022
I have only looked at MFF. Within their programs (there are three), the Rapid program is the most straightforward since there are less requirements.
- madpips replied Aug 9, 2022
If it's not exclusive to MFF Rapid, which other prop firm does something similar? If a program doesn't have target requirements, the trader still has their own daily target goal but it is nice to have the flexibility to close early or, not trade at ...
- madpips replied Aug 9, 2022
It depends on the system. In my system the floating equity (drawdown or profit) gears are meshed with gears of money management. My system focuses on accuracy so that leverage could adequately be used and not left to go to waste.
- madpips replied Aug 9, 2022
It does "increase" because with higher leverage the account won't get locked up in used margin leaving little equity breathing room.
- madpips replied Aug 9, 2022
Are you taking into account the leverage of the two account sizes? To me, a 50K account with 100:1 leverage is the same as a 10K account with 500:1 leverage. Anyhow, I did use a coupon code which saved about 6% off the fee.
- madpips replied Aug 9, 2022
The way I understand is that starting day 1 with the No Consistency Account (NCA), it starts on demo and I will get 12% of generated profits starting day 1. This would be payable after 4 weeks (with the NCA type). Once the account is raised by 10%, ...
- madpips replied Aug 9, 2022
I've been looking for this spreadsheet, could you post a link to it? Thanks in advance.
- madpips replied Aug 9, 2022
If I survive the Rapid, I'll try to Evaluation next. About the 500:1, I definitely plan to use leverage since this would be the place to do it safely. If I'm over-leveraged, it wouldn't affect anyone, including myself.
- madpips replied Aug 9, 2022
I'm not defending the Rapid model but how is it possible to say it's not a good model and also say you're not familiar with it. Let's only consider the 8% target requirement. With the Evaluation, the challenge fails if the trader doesn't meet the 8% ...
- madpips replied Aug 9, 2022
Thanks for the feedback but could you please tell more why the Rapid is not a good model? When I compare the two, I don't see how Rapid is not a good place to start. Rapid is 500:1, Evaluation is 100:1 Rapid is 100K, Evaluation is effectively 60K ...
- madpips replied Aug 9, 2022
I'm trying MFF with a 500:1 100K. If things go well, I'll try the Evaluation program but the Rapid will be a good place to start since there isn't the monthly target requirement.
- madpips replied Aug 9, 2022
Are there other prop firms besides MFF that has a "Rapid" product? The package that doesn't have target requirements.
- madpips replied Aug 9, 2022
The Rapid is a better I think. For one thing it's 500:1. On the Evaluation, all their plans are 100:1. So their largest plan 300K, is really a 500:1 60K account. With a larger account on Rapid, and more flexibility, the potential is greater with ...
- madpips replied Aug 9, 2022
I've done the computations with my system and I would be able to reach the 8% target within a month while staying under the DD but I like the idea of making 12% from the start. But it's still not clear if I would earn the daily 12% right away or, I ...
- madpips replied Aug 9, 2022
I'm thinking about doing the 500:1 100K Rapid at MFF because no target requirements and because of the large account size, through compounding, that 12% would be good. I'll think about it for the rest of this week but any thoughts or advice before I ...