The account on the thread TE is at a prop firm? Which one is the FPF?
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prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} Sorry, but I think you have not understood the Rapid model of MFF. Do not say you have not been warned. It is not a good model. Only do the challenges from them. And only do that when you are ready and have a solid tested proven strategy that works. Otherwise you will waste your money only. Be sure you can meet the goals.Ignored
Disliked{quote} 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 Rapid doesn't have monthly target requirement, Evaluation has 8% for month 1, 4% for month 2. Rapid earns the trader 12% on all profits starting on day 1, Evaluation doesn't earn the trader until they've been funded. Rapid goes from demo to live after 10% account gain where profit sharing increases...Ignored
Disliked{quote} Not familiar with the rapid....but here is easy calculation, I have trades running and London about to close, so going to make it quick....let's say you pay $979 for a 200K eval, with 12% DD (24K). They ask for 8% (16K) and then 5%(10K)......so essentially 67% (16/24) and then 41% (10/24). Trade the $979 on your own and make 67% and 41%, you'll have $2,305, with MFF you will have 200K with 12% DD (24K) with 80% split.......so effectively $19,200. Now plug those numbers into the rapid, see what you come up with. As I stated, have no idea...Ignored
Disliked{quote} 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 Rapid doesn't have monthly target requirement, Evaluation has 8% for month 1, 4% for month 2. Rapid earns the trader 12% on all profits starting on day 1, Evaluation doesn't earn the trader until they've been funded. Rapid goes from demo to live after 10% account gain where profit sharing increases...Ignored
Disliked{quote} 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% target. With the Rapid, the challenge doesn't fail. In fact, the trader could earn just $1 per day on the Rapid and they would still have their account and continue to earn 12% of that $1. For someone starting out, it seems like the safest way to start out with prop firms.Ignored
Disliked{quote} I'm not familiar because I looked once and discredited immediately.Ignored
Disliked{quote} You really have not done your homework. You can ask MFF in their chat when you have questions too. You get instant funding 12%, so for $750 you pay you get $1200 in value. When you make 3 months in total profits of 10%, here you can max. earn 3.5% per month, so earliest is to get funded after 3 full months, then you get 10% of initial account size as funded. That means you get a 10k account on a 100k Rabid account, where the max. DD is 15% of that 10%, so you have basically $1500 to play with and that after 3 months. The score is so bad...Ignored
Disliked{quote} It's amazing, no matter how much you/we try to help, people refuse to listen. Newbies to this space have such an advantage......all of the homework and research has been done for them. You were kind enough to actually post a spreadsheet with scores for all of the firms.Ignored
Disliked{quote} 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.Ignored
Disliked{quote} When you achieved funding status on their Rabid model, then you get 50% profit split for your 10% earned. You do not get here 5% in profits (at once). You can earn from your earned 10% on. So that is in total 5% of your profits ONLY, and before you got 12% of your profits as payout. After some months it can increase to about 80% or 85%, which is still lower than what you get before. You get $1200 value for $750 on 100k Rapid. Then it lowers to $750 in value first, before it then inceases I believe to $1000 (for 65% profit split on 10%)....Ignored
Disliked{quote} I've been looking for this spreadsheet, could you post a link to it? Thanks in advance.Ignored
Disliked{quote} For evaluation model, the funded account value is 20 times your fee. For rapid model, the funded account value is 1.6 times your fee(ultimately it will be 1.33 of your fee.). So you get far less value on rapid account. When I first look at rapid model, I say:" Wow, this is basically trading my own money."Ignored
Disliked{quote} 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.Ignored
Disliked{quote} 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.Ignored
Disliked{quote} Your concept is totally wrong. Leverage means nothing. You think leverage increase your money, which is totally wrong. There are some broker that offer 1:100 leverage, and some offer 1:3000 leverage. If you open an account at later, doesn't your money increase 30 times? Think it over. If you trade 10K account on 1:500 leverage , your account has 5 times higher probability to blow up than you trade 50K account on 1:100 leverage.Ignored
Disliked{quote} For evaluation model, the funded account value is 20 times your fee. For rapid model, the funded account value is 1.6 times your fee(ultimately it will be 1.33 times of your fee.). So you get far less value on rapid account. When I first look at rapid model, I say:" Wow, this is basically trading my own money."Ignored
Disliked{quote} It does "increase" because with higher leverage the account won't get locked up in used margin leaving little equity breathing room.Ignored
Disliked{quote} Leverage does not factor into value. You have a max loss which you are paying x fee for. If you can only lose 10K, 500:1 ,100:1, 30:1 doesn't matter. Matter of fact, if you take a position with 500:1, how quickly do you think you will lose the allowed 5%...let's see on a 50K account, 500:1 will be a 25,000,000 position or $2500/pip, if the max daily loss is 5%, it is $2,500. So 1 pip move against you blows the account. Hmmmm, I wouldn't suggest that.Ignored
Disliked{quote} It does "increase" because with higher leverage the account won't get locked up in used margin leaving little equity breathing room.Ignored