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darwin discussion

  • #781
  • Quote
  • Feb 12, 2025 4:00pm Feb 12, 2025 4:00pm
Quoting pipmaster77
{quote} That's awesome........I believe you'll be the first among our circle. Real curious how the allocations work. Man, I wish I didn't blow my first one up after 6 months of work.
Thanks. I believe gold will be slightly more difficult since it doesn't account for performance the past 5 months. Regardless, I will trade small and keep the drawdown minimal.
I'm sure we'll all reach gold at some point. Cheers.
  • #782
  • Quote
  • Feb 12, 2025 4:03pm Feb 12, 2025 4:03pm
Quoting adrazz
{quote} How di you manage to blow the account?
So I had 90K, 6 months straight allocation. In December I decided to up the risk and started trading large, held through FOMC one day and got destroyed to the point of no return. Had 2 quaterly payouts. Restarted in Jan and up 6.48% in 5+ weeks. Qualified in Jan, already qualified for Feb....I will not make the same mistake again.
  • #783
  • Quote
  • Feb 12, 2025 4:16pm Feb 12, 2025 4:16pm
Quoting pipmaster77
{quote} So I had 90K, 6 months straight allocation. In December I decided to up the risk and started trading large, held through FOMC one day and got destroyed to the point of no return. Had 2 quaterly payouts. Restarted in Jan and up 6.48% in 5+ weeks. Qualified in Jan, already qualified for Feb....I will not make the same mistake again.
Yeah easy done! So easy to get over confident! It can get pretty stressful keeping your cool
Pip Goes The Weasel
  • #784
  • Quote
  • Feb 12, 2025 4:17pm Feb 12, 2025 4:17pm
Quoting sheva89
{quote} Thanks. I believe gold will be slightly more difficult since it doesn't account for performance the past 5 months. Regardless, I will trade small and keep the drawdown minimal. I'm sure we'll all reach gold at some point. Cheers.
Nice one!
Pip Goes The Weasel
  • #785
  • Quote
  • Feb 12, 2025 6:27pm Feb 12, 2025 6:27pm
Quoting sheva89
If I keep up, will be eligible for gold by the end of this month. {image}
You're crushing it. Keep up the good work!

Im still in month 7 but getting excited about the potential for gold
Pride always comes before destruction.... -Proverbs 16:18
  • #786
  • Quote
  • Feb 12, 2025 6:30pm Feb 12, 2025 6:30pm
Quoting pipmaster77
{quote} So I had 90K, 6 months straight allocation. In December I decided to up the risk and started trading large, held through FOMC one day and got destroyed to the point of no return. Had 2 quaterly payouts. Restarted in Jan and up 6.48% in 5+ weeks. Qualified in Jan, already qualified for Feb....I will not make the same mistake again.
What was the "point of no return"?

We'll need all of the juicy details. How much drawdown. Risk adjustment factor after blowup. Etc
Pride always comes before destruction.... -Proverbs 16:18
  • #787
  • Quote
  • Feb 12, 2025 8:58pm Feb 12, 2025 8:58pm
Quoting Expo33
{quote} What was the "point of no return"? We'll need all of the juicy details. How much drawdown. Risk adjustment factor after blowup. Etc
lol, well it was a futures account, so it's a mil instead of 100K. I think the last I looked it was 350K and my risk engine was 0.2.

I learned from it, and it will never happen again. Frustrating though as this would be my Gold month.

However, restarted in Jan, qualified for allocation in the last week and already qualified this month. I did the forex MT5 although I mainly trade the indices, there are some good opportunities in the currencies as well. Now that they have the permanent allocations that correlation does not affect, I'll probably fire another futures one up as well.

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  • #788
  • Quote
  • Feb 12, 2025 9:17pm Feb 12, 2025 9:17pm
Quoting pipmaster77
{quote} lol, well it was a futures account, so it's a mil instead of 100K. I think the last I looked it was 350K and my risk engine was 0.2. I learned from it, and it will never happen again. Frustrating though as this would be my Gold month. However, restarted in Jan, qualified for allocation in the last week and already qualified this month. I did the forex MT5 although I mainly trade the indices, there are some good opportunities in the currencies as well. Now that they have the permanent allocations that correlation does not affect, I'll probably...
I have found that the metric Return/Drawdown is the most important deciding figure. Nothing else really matters as long as return is higher than dd and even better if by multiples.
  • #789
  • Quote
  • Feb 12, 2025 9:20pm Feb 12, 2025 9:20pm
Quoting OutThere
{quote} I have found that the metric Return/Drawdown is the most important deciding figure. Nothing else really matters as long as return is higher than dd and even better if by multiples.
True, because you need 2.5 return/DD to qualify for gold.
  • #790
  • Quote
  • Feb 13, 2025 2:27am Feb 13, 2025 2:27am
Quoting pipmaster77
{quote} True, because you need 2.5 return/DD to qualify for gold.
Darwinex is great if you don't get any dd or if you do, it better be super small and you get out of it quick.
2 or 3... consecutive dd without quick recovery and up and up again and the account is pretty much blown or you have months of work ahead of you at a snail's pace.
You make a mistake today, you will pay for it for months to come with much reduced risk multiplier effecting your new trades and strategy.
  • #791
  • Quote
  • Feb 13, 2025 2:58am Feb 13, 2025 2:58am
Quoting pipmaster77
{quote} lol, well it was a futures account, so it's a mil instead of 100K. I think the last I looked it was 350K and my risk engine was 0.2. I learned from it, and it will never happen again. Frustrating though as this would be my Gold month. However, restarted in Jan, qualified for allocation in the last week and already qualified this month. I did the forex MT5 although I mainly trade the indices, there are some good opportunities in the currencies as well. Now that they have the permanent allocations that correlation does not affect, I'll probably...
Is the futures account on Zero still using MT5? On darwinex standard accounts you have to use IKBR for futures
Pip Goes The Weasel
  • #792
  • Quote
  • Feb 13, 2025 7:20am Feb 13, 2025 7:20am
Quoting adrazz
{quote} Is the futures account on Zero still using MT5? On darwinex standard accounts you have to use IKBR for futures
Yes. I was on MT5. It was beautiful.
  • #793
  • Quote
  • Feb 13, 2025 8:44am Feb 13, 2025 8:44am
Quoting pipmaster77
{quote} Yes. I was on MT5. It was beautiful.
Cool thanks
Pip Goes The Weasel
  • #794
  • Quote
  • Feb 13, 2025 8:45am Feb 13, 2025 8:45am
Quoting OutThere
Did Trump say something? Nice to go up 1K in the ranks. Been to mid 200's too. The quality of traders on these levels is amazing. {image}
Its all this:
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Pip Goes The Weasel
  • #795
  • Quote
  • Feb 14, 2025 2:30am Feb 14, 2025 2:30am
Does anyone have an opinion on opening an account wit DZ as an individual vs. opening one as a limited corporation (owned by self)?

I know there may be tax advantages in each case or disadvantages and I know each contry's regulations is different ect
But I'm just generally wondering why one would be better off in going individual or corp?
  • #796
  • Quote
  • Feb 14, 2025 2:42am Feb 14, 2025 2:42am
Quoting OutThere
Does anyone have an opinion on opening an account wit DZ as an individual vs. opening one as a limited corporation (owned by self)? I know there may be tax advantages in each case or disadvantages and I know each contry's regulations is different ect But I'm just generally wondering why one would be better off in going individual or corp?
well you need a ltd company to start with and any earnings would be subject to corporation tax, you can pay yourself with dividends from the company, if you currently have a ltd company then it might be worth it, if you do have one you will already have an accountant, so I would ask them.
Pip Goes The Weasel
  • #797
  • Quote
  • Feb 14, 2025 2:54am Feb 14, 2025 2:54am
Quoting adrazz
{quote} well you need a ltd company to start with and any earnings would be subject to corporation tax, you can pay yourself with dividends from the company, if you currently have a ltd company then it might be worth it, if you do have one you will already have an accountant, so I would ask them.
Corp is really easy to open in my county, so that's not an issue.
Yes subject to tax of own counrty as a corp, yes. The incorporating elsewhere for tax purposes would be too difficult.

One (really long shot) use would be IF you can create a regular inflow as a corp, that would be your fundraising/source of income. Tru your DZ corp account of course. So, you don't have to worry about income from real work.
As an expenditure, with the incoming profit flow, you can embark on buying and running a business. Anything of your choice. Like a subway sandwich shop or whatever.
There are turnkey business franachise or other options....
Then you are running a business of your own X2.

Like I said, long shot scenario

Just looking for ideas of an 'advantage' can be carved up with going corp that would make it sensible and logical. Otherwise why bother.
  • #798
  • Quote
  • Feb 14, 2025 3:51am Feb 14, 2025 3:51am
If you open a corp acct, if you need 12 screens instead of your 4, a cushy chair, coffee, catering, a massage , a private jet, travel to countries whose currency you are trading, etc. is a tax write off and netted against the profits all in one place.
If you open an individual acct, as we all know, it's a long game.
So, 3 years from now, you can't just change your account to corp. You'd need to start over again with a corp.
If someone sees a potential or a merit of being a corp trader, I think it will have to be an upfront decision.
  • #799
  • Quote
  • Feb 14, 2025 3:57am Feb 14, 2025 3:57am
Quoting OutThere
If you open a corp acct, if you need 12 screens instead of your 4, a cushy chair, coffee, catering, a massage , a private jet, travel to countries whose currency you are trading, etc. is a tax write off and netted against the profits all in one place. If you open an individual acct, as we all know, it's a long game. So, 3 years from now, you can't just change your account to corp. You'd need to start over again with a corp. If someone sees a potential or a merit of being a corp trader, I think it will have to be an upfront decision.
Can you even open up a D Zero corp account, i thought that was only for Darwinex standard?
Pip Goes The Weasel
  • #800
  • Quote
  • Feb 14, 2025 4:10am Feb 14, 2025 4:10am
Quoting adrazz
{quote} Can you even open up a D Zero corp account, i thought that was only for Darwinex standard?
Apparently you can as long as the conditions they ask for are met.
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