DislikedPeople on TCF Telegram chat claiming "TCF offering 8% Profit target for Stage 1 and 4% for stage 2" effective from Monday. I wonder whare this will lead to?Ignored
Trading is SIMPLE not EASY.
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{quote} The core point was that 1:10 it's "low" and restrictive, but i don't think, especially if we are talking about other people's money and big accounts. With 50 lots even if you aim for 20 pips we are talking about 10.000 dollars with one lil trade. How can be this objectively considered low? Maybe for the people aiming to buy 100 millions Yacht yes it's a restrictive leverage It's a responsability to open max leverage allowed with other's a$$. Even if the risk is calculated
What I found as the worst offer in this business that does not suit my strategy at all is T4T. They also have 1:10 and 4% DD but with a 2% weekly DD limit. That's a really challenging
(or rather annoying
)
- Joined May 2016 | Status: Trader | 5,198 Posts
My take on LUX
I used the middle offering, but numbers play out the same......You pay $500 for $400 in DD, which you have to make 150% to get to $600, repeat again and then you get 65% of $600. DD now goes to $4000, you now need to make 250% to get to 10000. If you put the $500 in a personal account, you can actually trade bigger size positions and I'll let everyone just run their own numbers from there. With FTMO/MFF eval/challenge model, you pay $500-600 for 10-12K in DD....much better deal folks. I truly don't understand why everyone keeps falling for these "scale to 2.5 million" models. 
I used the middle offering, but numbers play out the same......You pay $500 for $400 in DD, which you have to make 150% to get to $600, repeat again and then you get 65% of $600. DD now goes to $4000, you now need to make 250% to get to 10000. If you put the $500 in a personal account, you can actually trade bigger size positions and I'll let everyone just run their own numbers from there. With FTMO/MFF eval/challenge model, you pay $500-600 for 10-12K in DD....much better deal folks. I truly don't understand why everyone keeps falling for these "scale to 2.5 million" models.
{quote} Well you wouldn't need the 500:1 leverage. If you have a risk of ruin of let's say 20 trades. You would be risking $20 per trade in the LUX account and $25 per trade in the personal account. If your average target is say 50 pips with 1:1 RR (for argument's sake) , you're trading 50 cents per pip or 10:1 leverage. FTMO and MFF both execute, fees are not the only stream of income. Firms like LUX are taking on no risk, you are simply funding your own account, the cool part is they only charge you 35% of your profits to do so.
From the experience I have gained in trading, it does not work like that. It's not possible to count every single aspect in. It's pure theory. If all, that can eventually happen, could be considered upfront, everybody would be millionaires, is not it?
My strategy requires opening more trades on 2 - 3 types of products at once (sort of statistical arbitrage), so I need to have some margin I can use as a buffer.
Last but not least, I paid "only"
[Update] Actually, I paid 499 GBP - 15.5% , so it's 569$, apologies for misinfo.
{quote} 1. I dare to say 6+ years (FTMO) is long enough time to have the business concept proven and set up so that to be able to react to the challenge fee stream fluctuations (I don't believe it will dry up completely anytime soon) or to trigger the attention of the regulatory body should there be any reason for that
).
- | Joined May 2021 | Status: Trader | 8 Posts
My take on LUX I used the middle offering, but numbers play out the same......You pay $500 for $400 in DD, which you have to make 150% to get to $600, repeat again and then you get 65% of $600. DD now goes to $4000, you now need to make 250% to get to 10000. If you put the $500 in a personal account, you can actually trade bigger size positions and I'll let everyone just run their own numbers from there. With FTMO/MFF eval/challenge model, you pay $500-600 for 10-12K in DD....much better deal folks. I truly don't understand why everyone keeps falling...
Aim for their $150,000.
The key here is the R:R ratio. 150k has less stages overall, thus saving up a lot of time to reach higher capital.
It is better to trade own money than trading with lux?
Not necessary, assume that you traded your own money with $400 instead paying to lux, you will actually reach 5625 instead of getting 5200 as the allowed trading capital, thus showing that if you trade your own money with the stated R:R ratio, you will have a higher capital.
HOWEVER, the benefit of trading with lux is that IF you loses all the money, you actually dont lose anything cause the 5200 is not your actual money. This is not the case if you trade yourself, you lose all your capital.
I dont think FTMO is a valid comparison with it as there is time limit. The question that I will ask if i want to join FTMO is if you were given 8 trials of demo account, are you able to flip a 400% within a 3 consecutive months timeframe?
Why within 8 trials? Because of the profit split ratio with FTMO. 80/20, thus you are better off trading your money if you loses more than 8 times.
Why 400%? Because their R:R ratio is 1:1, they give you $10,000 drawdown, they expect $10,000 profit.
In their plan, they have 2 stages, thus you need to flip 2 times 100% which results in 400%.
I prefer lux as there is no timelimit, and the leverage doesnt really affect that much as i normally trade at a higher pips range ~100 pips.
Of course, the higher the leverage the better if applied to personal trading, but remember also leverage != profitability.
- Joined May 2017 | Status: Trader | 3,805 Posts
Truth is like poetry. And most people f*cking hate poetry.