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prop firm new model - my trading journey

Quoting maflip
{quote} Let's see if 13000 holds. If not then I'm screwed...
Well. Imagine having waited so long for the setup, only to be stopped out for a loss, an then you have to watch the market going back in your direction moments later.. That's a screw for the day. Happened to me on Gold on Wednesday
Quoting maflip
Like this one. It's at yesterdays popular bars target. Let's see what happens. Looking for a double whammy setup. {image}
From 13014 to 13046 already made 29 pips with almost no drawdown. Now can move stop to BE. But seriously there is no double bottom yet. But these are the areas they like to reverse it.

With this trade, aggressive counter trend traders would try to make at least 70 pips with this setup. Let's see what happens.
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Be like water go with the flow
Quoting ForexTT
{quote} Well. Imagine having waited so long for the setup, only to be stopped out for a loss, an then you have to watch the market going back in your direction moments later.. That's a screw for the day. Happened to me on Gold on Wednesday
hah hah those are the days when you say. Fak
Be like water go with the flow
Quoting ForexTT
{quote} Well. Imagine having waited so long for the setup, only to be stopped out for a loss, an then you have to watch the market going back in your direction moments later.. That's a screw for the day. Happened to me on Gold on Wednesday
Well, remember, I called it before it made the reversal. Precise entry... To the dot. Laugh at this one now.
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Be like water go with the flow
Quoting maflip
{quote} Well, remember, I called it before it made the reversal. Precise entry... To the dot. Laugh at this one now. {image}
13070 - 13080 if they can break that it's a classic dump and pump with DAX. They are crazy like that.
Be like water go with the flow
Quoting maflip
Like this one. It's at yesterdays popular bars target. Let's see what happens. Looking for a double whammy setup. {image}
An hour later. tested 13080. If it goes up more, a test of 13120 to 13150 is possible... What can I say? It worked!!!
Be like water go with the flow
Quoting maflip
{quote} An hour later. tested 13080. If it goes up more, a test of 13120 to 13150 is possible... What can I say? It worked!!!
That was a perfect entry bro. Well done. squeeze every last pip out of it. I guess the long wait was worth it.
Quoting ForexTT
{quote} That was a perfect entry bro. Well done. squeeze every last pip out of it. I guess the long wait was worth it.
Hah hah thanks bro. There's profit taking area there. Also, 13000 is a strong psychological number. Worked well.
Be like water go with the flow
Quoting Koop
{quote} {quote} Lol well, it seems this ONE rule is enough to overshadow the awesomeness if you think about it. You had a good GBPJPY trade but need to take at least 5 more trades. what happens if the next 2 don't work out? It's not like you could just take 0.01 trades just to meet up the trade number consistency either, because there is a lot size consistency rule as well. Damn. btw, on JScave's Facebook group, i came across a prop firm that say they pay out 70% of profits biweekly. still researching, sounds too good to be true.
I did saw that too... It's a bit a copy of ftmo... It's called dt4x if I am correct... Downfall is the dd is half off ftmo... I also saw that they spoke about mff and new accounts without consistency... That would make it a lot more interesting though...
Quoting Patje
{quote} I did saw that too... It's a bit a copy of ftmo... It's called dt4x if I am correct... Downfall is the dd is half off ftmo... I also saw that they spoke about mff and new accounts without consistency... That would make it a lot more interesting though...
There's always a catch!!
Quoting Patje
{quote} I did saw that too... It's a bit a copy of ftmo... It's called dt4x if I am correct... Downfall is the dd is half off ftmo... I also saw that they spoke about mff and new accounts without consistency... That would make it a lot more interesting though...
If ever MFF could throw the consistency rule in the trash can, it would make trading with them a lot easier than it is right now.
I will check out dt4x. However, if max dd is half that of ftmo, that would suffocate me in no time
Well guys I'm almost finished for the week Might take one more trade. 4.5% up on the week and trying to get it up to 5% (if possible)

Still have plenty of trades to play with although I'm well over the minimum

That is the secret of conquering the consistency rule. Just make sure you have enough trades/lots to play with for the following days.
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No nothing nice - Going to pack up while I'm ahead. Didn't quite reach my target for the week but considering that Gold has been at bit yo-yo this week I'm happy enough. Maybe next week we'll get some decent direction!
Quoting Patje
{quote} I did saw that too... It's a bit a copy of ftmo... It's called dt4x if I am correct... Downfall is the dd is half off ftmo... I also saw that they spoke about mff and new accounts without consistency... That would make it a lot more interesting though...
Yeah that's the one, an FTMO copy for sure. They also claim to double your account each time you reach 10%. With 1:100 leverage, that sounds doable often, but the small risk limits are suspicious.
Quoting Koop
{quote} Yeah that's the one, an FTMO copy for sure. They also claim to double your account each time you reach 10%. With 1:100 leverage, that sounds double often, but he small risk limits are suspicious.
The doubling part makes it attractive, however I don't know if they are trustworthy...
Guys I thought I would just mention a few things.

Firstly the MYff consistency rule is a bummer no doubt about it. However you can work around it just as I am doing. That's why I'm mapping out my journey, posting my daily matrix, to show how (I believe) it is possible to make it work for you. Whether Myff is right for you does of course depend on your trading style. It is definitely more suited to scalping IMO (which is really what most of us are doing because very few of us are position traders).

On my system - I use ema cross + TMA on time frames M5/M1, there are at least 50 trading opportunities on average per day so my problem is usually that I've used up my daily allocation and can't open any more trades rather then having to open trades to use up my daily allocation!

As you can see, my trade size is big (5 lots) - would probably terrify many traders! However, as I said, you get used to it and I wouldn't bother trading anything smaller unless my account size was smaller of course. Look at it this way: if you have a 10K account you wouldn't hesitate to trade 0.5 lot size right? And 100k account is ten times larger so there you go!

Trading 5 lots does tend to concentrate the mind of course! And if I find myself going over 5 pips down I close the trade in a hurry. Ok, very occasionally I may be 500/600 dollars down but one can make that up in no time at all trading 5 lots

Anyway, so far so good so maybe I'm doing something right for a change
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Quoting Phronesis24
Anyone who knows about them? Please guys. your respond will be highly appreciated
I'm sorry. When I read these things, I lose all confidence.

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I just finished my chat with them.

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