Billytt Die happy trading e/j daily breakout | Page 2351 | Forex Factory

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Billytt Die happy trading e/j daily breakout

  • #47,001
  • Feb 3, 2020 12:26am Feb 3, 2020 12:26am
My usd/chf short failed but i stuck a counter on, made +5% and have a counter running at -9.

cable, 08-00 15 minute bar break. Low broke for +5%,
Trade well all.
t 08-27
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,002
  • Feb 3, 2020 12:47am Feb 3, 2020 12:47am
Quoting billytt
My usd/chf short failed but i stuck a counter on, made +5% and have a counter running at -9. cable, 08-00 15 minute bar break. Low broke for +5%, Trade well all. t 08-27
good morning-
exactly the same for me...
that 0815 short was a nice quick move :-)
  • #47,003
  • Feb 3, 2020 1:08am Feb 3, 2020 1:08am
Quoting mtacki
{quote} good morning- exactly the same for me... that 0815 short was a nice quick move :-)
yes indeed. Hope you are well.
good trade.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,004
  • Feb 3, 2020 2:27am Feb 3, 2020 2:27am
I did not touch Dax as the range was too big.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,005
  • Feb 3, 2020 2:28am Feb 3, 2020 2:28am
DAX ROUND UP FOR ME THIS MORNING. Couple of losers straight off ruined my coffee but okay overall.
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every Saint has a past. Every Sinner has a Future
  • #47,006
  • Feb 3, 2020 3:24am Feb 3, 2020 3:24am
Quoting billytt
{quote} yes indeed. Hope you are well. good trade.
thanks billy - I will be back for the dead zone :-)
  • #47,007
  • Feb 3, 2020 3:41am Feb 3, 2020 3:41am
Got my Boris break out.

He drinks wine at £350 a bottle. That's a bit steep.
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  • #47,008
  • Feb 3, 2020 4:01am Feb 3, 2020 4:01am
Hi all,

Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional profits but the growth of 5k must be kept in your account. If you can turn the subsequent 100k into 110k (plus your initial growth of 5k), they double your allocation to 200k. So you now have 215k in your account. Finally, if you can turn your 200k into 220k + the initial growth of 15k (so total in your account is now 235k), you get fund manager status and are given 1 million to trade with. I believe the profits from hereon are split 50/50 with the firm.

There are no time limits to reach the goal. You can withdraw profits which are over and above the growth targets. You are not personally liable for any losses.

You are not allowed to counter/hedge (sorry Billy and Lem ). And max drawdown allowed in any month is 10%. There are no expensive training fees. This is a subscription based service at £249/month and you can cancel at any time. Seems too good to be true but there are lots of good reviews.

Ex professional traders (Lem, Claudia and others), what's your take on this? Appreciate any feedback. Thanks
  • #47,009
  • Feb 3, 2020 4:21am Feb 3, 2020 4:21am
[quote=ia1979;12734458]Hi all, Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional

i seem to get emails like that, all the time. I’d rather keep / add £250 to my own trading account each month!
  • #47,010
  • Feb 3, 2020 4:26am Feb 3, 2020 4:26am
Quoting ia1979
Hi all, Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional profits but the growth of 5k must be kept in your account. If you can turn the subsequent 100k into 110k (plus your initial growth of 5k), they double your allocation to 200k. So you now have 215k in your account. Finally, if you can turn your 200k into 220k + the initial growth of 15k (so total in your account is now 235k), you get fund manager...
Hi, I cannot really answer...
but their is a saying,, If something seems to good to be true ,probably isn't.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #47,011
  • Feb 3, 2020 4:29am Feb 3, 2020 4:29am
[quote=Jp1;12734509]
Quoting ia1979
Hi all, Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional i seem to get emails like that, all the time. I’d rather keep / add £250 to my own trading account each month!
LOL. I was looking for prop trading firms and came across them and FTMO. Both "appear" to be legit. If I ever try one of them out, I'll let you know of my experience. Thanks for your reply JP.
  • #47,012
  • Feb 3, 2020 4:31am Feb 3, 2020 4:31am
Quoting billytt
{quote} Hi, I cannot really answer... but their is a saying,, If something seems to good to be true ,probably isn't.
Cheers Billy. I know Lem used to be a prop trader. Not sure what the set up there was.
  • #47,013
  • Feb 3, 2020 4:44am Feb 3, 2020 4:44am
Quoting ia1979
Hi all, Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional profits but the growth of 5k must be kept in your account. If you can turn the subsequent 100k into 110k (plus your initial growth of 5k), they double your allocation to 200k. So you now have 215k in your account. Finally, if you can turn your 200k into 220k + the initial growth of 15k (so total in your account is now 235k), you get fund manager...
there are better options around i think if you want to look for something like that....its a interesting bussines model though
  • #47,014
  • Feb 3, 2020 8:49am Feb 3, 2020 8:49am
'ere bee the Dow afternoon UK time. A 'blinder'Long to make up for snatch type trades this morning on the dax. Pity Dow doesn't do this everyday what

Edit: being overly pleased with myself (smug) , I forgot to indicate the later losing short and winning short around 16:12 hours and 16:31 hours.
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every Saint has a past. Every Sinner has a Future
  • #47,015
  • Feb 3, 2020 8:50am Feb 3, 2020 8:50am
What a drop from cable today...
  • #47,016
  • Feb 3, 2020 12:36pm Feb 3, 2020 12:36pm
Quoting ia1979
Hi all, Just came across a prop trading company called BluFX. Every trader is given a starting capital of 50k. If you can turn that into 55k, they double your allocation to 100k. You can withdraw additional profits but the growth of 5k must be kept in your account. If you can turn the subsequent 100k into 110k (plus your initial growth of 5k), they double your allocation to 200k. So you now have 215k in your account. Finally, if you can turn your 200k into 220k + the initial growth of 15k (so total in your account is now 235k), you get fund manager...
Without seeming to endorse this or any other particular company, BluFX are a legit and well established firm.

It's a decent working set up and can be a way of getting past certain psychological blocks when trading - ie the fear of losing. This way, you are working at a decent lot size while not risking your own money.

It is also a "stranger's" money, so it's not a friend or relative who could lose out.

Don't underestimate how big a part that can play.

There are a handful of others out there, all with their own variant of the model and some will charge more than others, with different levels of restrictions on style of trading etc.

As for the point about rather putting the "fee" into your own account, well the fee in this case is giving you access to a larger account size, as noted above and also, who says you are going to be doing this for ever?

Take the profits you are eventually allowed to withdraw and put them in your own account. That'll be a lot more than £250 or whatever.

It's not a too-good-to-be-true situation, as you are still having to fund it yourself, so you do need to perform. There is no money back option if you just can't be bothered that month.

So, overall, it's not something that will suit everybody but for some, in certain circumstances and looking to achieve a certain aim, it can be a good way to go - even as a means to an end.

As for my working for a prop firm, it wasn't this kind of thing - I was employed on salary and points by a pro-fund and never had to pay-to-play.
  • #47,017
  • Edited 1:19pm Feb 3, 2020 1:03pm | Edited 1:19pm
Quoting lemercenaire
{quote} Without seeming to endorse this or any other particular company, BluFX are a legit and well established firm. It's a decent working set up and can be a way of getting past certain psychological blocks when trading - ie the fear of losing. This way, you are working at a decent lot size while not risking your own money. It is also a "stranger's" money, so it's not a friend or relative who could lose out. Don't underestimate how big a part that can play.
supposedly max drawdown a month is 10% and leverage is 1:3......so ur not really getting access to that full 50k, only a small percentage (unless ive not understood)

i’d be dead with 1:3 margin at the moment - im not a good enough trader i should add!
  • #47,018
  • Feb 3, 2020 1:21pm Feb 3, 2020 1:21pm
Quoting Jp1
{quote} supposedly max drawdown a month is 10% and leverage is 1:3......so ur not really getting access to that full 50k, only a small percentage (unless ive not understood) i’d be dead with 1:3 margin at the moment!
Yeah, as I said, there are better options out there. I was just talking about the general business model.

Also just remember, they can tell you that you are using whatever sized account they like - you'll never really know.
Could just as easily be an mt4 demo account you're banking into and they are just running a test on your talent without risking anything.
  • #47,019
  • Feb 3, 2020 1:29pm Feb 3, 2020 1:29pm
Quoting lemercenaire
{quote} Yeah, as I said, there are better options out there. I was just talking about the general business model. Also just remember, they can tell you that you are using whatever sized account they like - you'll never really know. Could just as easily be an mt4 demo account you're banking into and they are just running a test on your talent without risking anything.
Lol - good point, hadnt thought of that! In my case, they would just do the exact opposite of me and make a fortune!

maximum lot size on a 25k account on gold is 0.2 lots.....wow, thats tight! I usually trade 2-4 lots on that size.....making 5k on 0.2 lots....think i would have to be you mate!
  • #47,020
  • Feb 3, 2020 3:26pm Feb 3, 2020 3:26pm
Quoting lemercenaire
{quote} Without seeming to endorse this or any other particular company, BluFX are a legit and well established firm. It's a decent working set up and can be a way of getting past certain psychological blocks when trading - ie the fear of losing. This way, you are working at a decent lot size while not risking your own money. It is also a "stranger's" money, so it's not a friend or relative who could lose out. Don't underestimate how big a part that can play. There are a handful of others out there, all with their own variant of the model and some...
Thanks for your detailed response Lem. I can see positives and negatives in this way of trading. You've touched on the positives and JP has mentioned the negatives (max trade size in phase 1 is around 0.5 lots. That's £5/pip. Would probably take over 2-3 months to make the initial 5k. But I think it can be done. Perhaps phase 1 is just to test whether you can be patient with the markets. But the end goal is to get to the larger amount to trade with, and patience will pay here. Also, Lem touched on the psychological side of things. One can be more objective/detached when it's not your own money. I'll look further into these guys and FTMO. Thanks again to all for your input.
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