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  • #41
  • Aug 18, 2020 7:37am Aug 18, 2020 7:37am
Well that's my target achieved. $1000 a day. So it's time to relax until tomorrow.

Fairly easy trading today even though I overslept and missed FF open ( which was wonderful today!!) due to the fact that for some reason my phone was switched off so I never heard the alarm!
  • #42
  • Aug 18, 2020 7:47am Aug 18, 2020 7:47am
Quoting Mtinifx
Well that's my target achieved. $1000 a day. So it's time to relax until tomorrow. Fairly easy trading today even though I overslept and missed FF open ( which was wonderful today!!) due to the fact that for some reason my phone was switched off so I never heard the alarm!
Nicely done. Was that on Gold Mt?
  • #43
  • Aug 18, 2020 9:07am Aug 18, 2020 9:07am
Quoting ia1979
{quote} Nicely done. Was that on Gold Mt?
Thanks! Yes I only trade Gold

How u doing on your FTMO?
  • #44
  • Aug 19, 2020 12:48pm Aug 19, 2020 12:48pm
Quoting Mtinifx
Guys a couple of pointers to those considering trading a prop account. Firstly, after trying and failing various account sizes, my advice is that one has to go for the big one where the max drawdown permissable which is $5000. I actually think that one can go for two accounts and merge them which brings the DD up to 10% but I'm not sure if that is in fact possible - will have to check! In my opinion it's almost impossible to succeed with less then 5k drawdown. Over the long term it's highly likely that one is going to experience a two or three grand...
Sensible advice. I have seen some FTMO passes where people have practically touched the max daily drawdown, and only missed it by 100-200. Talk about living life on the edge.
  • #45
  • Aug 25, 2020 9:52am Aug 25, 2020 9:52am
Quoting Mtinifx
{quote} Thanks! Yes I only trade Gold How u doing on your FTMO?
How are you doing with this challenge bro?
  • #46
  • Aug 26, 2020 2:27am Aug 26, 2020 2:27am
Quoting maflip
{quote} How are you doing with this challenge bro?
Hi bro - blew it I'm afraid
  • #47
  • Aug 26, 2020 2:40am Aug 26, 2020 2:40am
Quoting Mtinifx
{quote} Hi bro - blew it I'm afraid
Ah dang.... My recommend.... Pass FTMO free trial 3 times it will be similar to passing the real challenge. 2x Free trial = 30 days same as challenge and profit target. Pass it 3rd time is similar to verification except verification is 60 days not 15 days. But profit target is same as verification. To be really sure, pass the free trial 6 x consecutive, do this (Pass free trial 6x) then you know for sure you are ready.

Actually, I opened a new free trial yesterday, gonna try to pass it 6x consecutive. My first free trial, It was positive, but I got lazy due to high spread I did not finish it. Only went to +1500 profit missed target by 1000. Gonna try it again on free trial, but will just stay away from high spread pairs.
  • #48
  • Aug 26, 2020 4:07am Aug 26, 2020 4:07am
Quoting maflip
{quote} Ah dang.... My recommend.... Pass FTMO free trial 3 times it will be similar to passing the real challenge. 2x Free trial = 30 days same as challenge and profit target. Pass it 3rd time is similar to verification except verification is 60 days not 15 days. But profit target is same as verification. To be really sure, pass the free trial 6 x consecutive, do this (Pass free trial 6x) then you know for sure you are ready. Actually, I opened a new free trial yesterday, gonna try to pass it 6x consecutive. My first free trial, It was positive,...
Yep. I'm afraid that it's just poor MM with me. Got a good system but my MM is shocking! That's a very good idea of yours. Lmax apread on Gold is actually not bad although it doesn't float like FPm or Tick mill which is a pity when one is looking for the perfect entry. Anyway as long as one trades it exactly as one would a "live" account should be a great idea
  • #49
  • Aug 26, 2020 4:13am Aug 26, 2020 4:13am
Quoting Mtinifx
{quote} Yep. I'm afraid that it's just poor MM with me. Got a good system but my MM is shocking! That's a very good idea of yours. Lmax apread on Gold is actually not bad although it doesn't float like FPm or Tick mill which is a pity when one is looking for the perfect entry. Anyway as long as one trades it exactly as one would a "live" account should be a great idea
Me I'm going to try passing free trial 6x before taking the real challenge. I don't wan't to waste money, I want to be sure before I do it. So far day 2 is doing alright. My trailing stop EA just messed up exited a trade too early. This should have made more today.

And if I did not stop half way the first free trial. I may have passed that, this may have been my 2nd free trial now. Just 4 more to go after this.
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  • #50
  • Aug 26, 2020 4:18am Aug 26, 2020 4:18am
Quoting Mtinifx
{quote} Yep. I'm afraid that it's just poor MM with me. Got a good system but my MM is shocking! That's a very good idea of yours. Lmax apread on Gold is actually not bad although it doesn't float like FPm or Tick mill which is a pity when one is looking for the perfect entry. Anyway as long as one trades it exactly as one would a "live" account should be a great idea
Also, if you like scaling in. Take a look at Russell 2000. It doesn't move as much, there is almost always a reversal there. But be careful, sometimes it trends hard too. But rare...
  • #51
  • Aug 26, 2020 4:49am Aug 26, 2020 4:49am
Quoting Mtinifx
{quote} Hi bro - blew it I'm afraid
sad to know the status of your account. but don't give up! markets have cycles, probably the current cycle is not for your strategy?

Quoting maflip
{quote} Ah dang.... My recommend.... Pass FTMO free trial 3 times it will be similar to passing the real challenge. 2x Free trial = 30 days same as challenge and profit target. Pass it 3rd time is similar to verification except verification is 60 days not 15 days. But profit target is same as verification. To be really sure, pass the free trial 6 x consecutive, do this (Pass free trial 6x) then you know for sure you are ready. Actually, I opened a new free trial yesterday, gonna try to pass it 6x consecutive. My first free trial, It was positive,...
Trading using the trial account 1000000x still does not guarantee that the trader passes the challenge and verification. The markets move in cycle and we don't know when it will be in favor of our strategy. I suggest to start with the lowest challenge which is 10k, pass the Challenge and Verification and after passing both, have a target of 5% per month. With that, by the end of your 1st profitable month, you get your money back + some profits which you can use to start the 100k challenge.

Otherwise, you'll be loosing precious market set-ups and time trading 6 trials which may take 3 months. ~$200 is a small amount to pay. Once you have the max 300k account, you can ask them to deactivate your 10k account and trade with your 300k account.
adapt or be killed
  • #52
  • Aug 26, 2020 5:07am Aug 26, 2020 5:07am
Quoting slappymove
{quote} sad to know the status of your account. but don't give up! markets have cycles, probably the current cycle is not for your strategy? {quote} Trading using the trial account 1000000x still does not guarantee that the trader passes the challenge and verification. The markets move in cycle and we don't know when it will be in favor of our strategy. I suggest to start with the lowest challenge which is 10k, pass the Challenge and Verification and after passing both, have a target of 5% per month. With that, by the end of your 1st profitable...
Thanks for the advice. But it's not a problem. My system, I've been trading it for years. So it's already been proven. Never changed since. I'm taking the free trial just to make sure. I'm too cautious Like my spread issue with FTMO. There is more stop out in there platform than my live account. Meaning, I might have to make adjustment for it. Can't trade none major pairs etc etc. Stuff like that. Avoid surprises. No rush to give away money to FTMO

Free trial, is a good idea for everyone. It trains discipline and not just give money to FTMO blindly. (It will make them fat) I think everyone should start at the free trial first.

There are others who may have tried 10x with the challenge and failed. Even on small account it adds up. Let's not be like that...
  • #53
  • Aug 27, 2020 5:36am Aug 27, 2020 5:36am
https://www.forextips101.com/funding-talent/ref/70/

Someone forwarded this to me. Another funding for Traders.

I don't know much about them

You guys can check them out
  • #54
  • Aug 27, 2020 7:27pm Aug 27, 2020 7:27pm
Quoting Phronesis24
https://www.forextips101.com/funding-talent/ref/70/ Someone forwarded this to me. Another funding for Traders. I don't know much about them You guys can check them out
I checked it. Not very good. I saw the rules. They have long list of rules. This rule can easily be an excuse to disqualify you. Smells like Fidelcrest which is a scammer. FTMO is still better with simple rules just follow daily loss limit, no trading during news. Thats it. Stay away from that company is my opinion. Try it out let us know.
  • #55
  • Aug 27, 2020 7:46pm Aug 27, 2020 7:46pm
Quoting maflip
{quote} I checked it. Not very good. I saw the rules. They have long list of rules. This rule can easily be an excuse to disqualify you. Smells like Fidelcrest which is a scammer. FTMO is still better with simple rules just follow daily loss limit, no trading during news. Thats it. Stay away from that company is my opinion. Try it out let us know.
I thought the same thing about ForexTips101. The consistency rule can be used as an excuse to disqualify.
The5%ers seems to be a better option than FTMO. Up to 6 months to meet the goal. No time and strategy restrictions. You can keep open positions on the weekend. Among other advantages. However, it is necessary to read the rules carefully, as there are also disadvantages.
  • #56
  • Aug 28, 2020 2:11am Aug 28, 2020 2:11am
Quoting Nathan.Fx
{quote} I thought the same thing about ForexTips101. The consistency rule can be used as an excuse to disqualify. The5%ers seems to be a better option than FTMO. Up to 6 months to meet the goal. No time and strategy restrictions. You can keep open positions on the weekend. Among other advantages. However, it is necessary to read the rules carefully, as there are also disadvantages.
Yeah exactly, that consistency rule is too broad. Are they saying if you trade 1 lot you should stick to 1 lot always? Or, if you trade during US Session this week, then all of the sudden next week you trade during Asian session is that a consistency violation? Too broad, easy to make an excuse.

Thing is for me I adjust lot size all the time depends on volatility. Too many rule... Smells like another Fidelcrest. Could be wrong, but FTMO is still better.

Gonna check that other one you mentioned.
  • #57
  • Aug 28, 2020 4:25am Aug 28, 2020 4:25am
Quoting Mtinifx
{quote} Yep. I'm afraid that it's just poor MM with me. Got a good system but my MM is shocking! That's a very good idea of yours. Lmax apread on Gold is actually not bad although it doesn't float like FPm or Tick mill which is a pity when one is looking for the perfect entry. Anyway as long as one trades it exactly as one would a "live" account should be a great idea
Here you go bro. My day 4 of 2nd time FTMO free trial. Did not do that good today as I got one stop out after London session. No more trading as wifey wants to watch Train to Busan 2 later . Yesterday was pretty bad too. My hit rate went down from 77% to 60% due to yesterdays crazy action. Still came out positive though.

Yesterday I also made a mistake from using that order script. 8 pips is .8 pips stop loss should have been 80 for 8 pips, immediately closed the order with a loss as soon as I realize the lot size is too huge. Max daily draw down increased too because of that.
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  • #58
  • Aug 28, 2020 6:52am Aug 28, 2020 6:52am
Quoting maflip
{quote} Here you go bro. My day 4 of 2nd time FTMO free trial. Did not do that good today as I got one stop out after London session. No more trading as wifey wants to watch Train to Busan 2 later . Yesterday was pretty bad too. My hit rate went down from 77% to 60% due to yesterdays crazy action. Still came out positive though. Yesterday I also made a mistake from using that order script. 8 pips is .8 pips stop loss should have been 80 for 8 pips, immediately closed the order with a loss as soon as I realize the lot size is too huge....
Very good bro! Well done indeed. Yes that's why I prefer to pay more and get the bigger account with 5 grand drawdown limit. Next time though I will work as if it's only $2500. That way I can't (hopefully) get in trouble again!
  • #59
  • Aug 28, 2020 6:53am Aug 28, 2020 6:53am
Quoting Nathan.Fx
{quote} I thought the same thing about ForexTips101. The consistency rule can be used as an excuse to disqualify. The5%ers seems to be a better option than FTMO. Up to 6 months to meet the goal. No time and strategy restrictions. You can keep open positions on the weekend. Among other advantages. However, it is necessary to read the rules carefully, as there are also disadvantages.
Yes I agree too. That rule is very unclear!! I agree that in the final analysis FTMO is the only option. I checked out 5'ers but didn't compare favourably IMHO
  • #60
  • Aug 28, 2020 7:20am Aug 28, 2020 7:20am
Quoting Mtinifx
{quote} Very good bro! Well done indeed. Yes that's why I prefer to pay more and get the bigger account with 5 grand drawdown limit. Next time though I will work as if it's only $2500. That way I can't (hopefully) get in trouble again!
I was able to add an extra $100 to this challenge. I was gunning for more but the half got hit at BE. I am in again. Stop at BE again. Risk reward originally 5:1.

GO GJ GO GO GO Go down babeeee

However, that's a possible triple top. Possible reversal if price goes above that red line. Hopefully it hit my TP first
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