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  • #21
  • Sep 1, 2020 5:03pm Sep 1, 2020 5:03pm
Quoting Freefox
So, was very pleased to pass FTMO Step 1 (challenge) in 14 days. What have I learnt so far? Key thing I think is you have got to treat this strictly as a business and be professional in your approach. I mentioned in my opening post the problem trading my personal account is I got complacent(smug) thinking I was invincible at times when I was on a very long winning streak. That's when i started to lose my discipline and do stupid stuff (moving stops), unravelling much of my good work I'd done in growing my account. Well since doing the challenge...
How about posting a trend Explorer for once ?

Have you been founded yet or failed ?

Strange though that it has been moved because you would be a fool to profit from the commission that FTMO offers on any upbringing traffic...

Anyway, what about a Trend Explorer ?


Cheers,
LDFX Trading Ltd
  • #22
  • Sep 2, 2020 1:11am Sep 2, 2020 1:11am
Very happy. Completed the verification phase.

Had email confirmation yesterday from FTMO saying would take 2-4 business days to setup my $100k funded account. 2 hours later it was all done!

So took me 14 days to pass Step 1 (Challenge) and then another 11 days to do Step 2 (Verification).

Just 5 weeks from starting on my ambitious objective of $300k in 6 months and got one of the accounts. I'm sure it won't always go as smooth and as quick as that but very pleased that I am off to a very good start on my journey.

Already started another $100k challenge (this time with Enfoid for diversification) - more on that a little later as there is trading to be done now

Attached Image (click to enlarge)
Click to Enlarge Name: FTMO Verification.jpg Size: 39 KB
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #23
  • Sep 5, 2020 5:50am Sep 5, 2020 5:50am
Well done wish you luck ,

strangely mostly of people who completed the challenge will get silent after that , The only thing i want to confirm , will you got paid ? i see you have not start trading on real account yet , looking forward to hear your feedback after a month .

one more thing which tools are you using for copy trade ?
  • #24
  • Sep 6, 2020 12:02pm Sep 6, 2020 12:02pm
Well just started trading my new $100k funded account this week with FTMO this week – all got setup very quickly. Will give an update on how that is going at month end when hopefully will be getting my first 70% pay out. I will trade it very conservatively (certainly initially, 0.5% risk per trade) until I have manged to get my $610 initial entry fee (deposit) returned. Once that has happened, I have I have zero risk going forward as all on my initial investment is out.

As mentioned I have also got a second $100k challenge underway this time with Enfoid (going very well at moment, but can’t count your chickens until I am over the line). Enfoid basically has exactly the same rules has FTMO. But their entry feed for an $100k account is $1,000 as opposed to $640 now with FTMO. So that is the first significant difference.

Where things differ is in terms of the profit cut and the scaling plan. FTMO is 70% profits go to trader versus 50% with Enfoid.

Scaling plan with Enfoid is potentially better though. They add 20-25% every quarter if you grow the account by average 2.2% in each of the 3 months. They make an assessment of your account when doing this scaling too (bit of subjectivity it seems there?). FTMO’s scaling plan is simpler and more transparent. They will add $25K every FOUR months if you hit 10% increase in the 4-monthly cycle. But note it is $25k every FOUR months as opposed to a 20-25 PERCENTAGE increase with Enfoid every THREE. These differences make a massive variation in how the accounts will compound and grow.

Exact comparisons are difficult but if you do manage to get 25% increase every 3 months with Enfoid, then even though the have only a 50% pay-out on profits, the account will have compounded to a bigger amount so you would be better off with Enfoid after a couple of years. But there is some big ‘Ifs’ in there!

To be honest I prefer the FTMO plan as you know where you stand up front. Enfoid offer though is still very good. The primary reason I have gone with them on my second challenge is diversification. Don’t want to have all my eggs in one basket, as it were.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #25
  • Sep 6, 2020 2:14pm Sep 6, 2020 2:14pm
Good to hear you're doing well. Looks like you love managing and growing to be bigger. If you have enthusiasm of managing more and more fund, look at the growing plan of "the5ers" and "City Traders Imperium". You can scale up to 1.280.000$ on the5ers and 2.000.000$ on City Traders Imperium. But, of course, you have to risk not more than 0.5% for your goodness, max drawdown is 4%. I mentioned about these 2 firms in case you may not be aware of them.
  • #26
  • Sep 7, 2020 2:34am Sep 7, 2020 2:34am
Quoting fuadik88
Good to hear you're doing well. Looks like you love managing and growing to be bigger. If you have enthusiasm of managing more and more fund, look at the growing plan of "the5ers" and "City Traders Imperium". You can scale up to 1.280.000$ on the5ers and 2.000.000$ on City Traders Imperium. But, of course, you have to risk not more than 0.5% for your goodness, max drawdown is 4%. I mentioned about these 2 firms in case you may not be aware of them.

Thanks for mentioning them. I do know about them. I have a spreadsheet where I evaluate each prop firm to make comparisons allowing me to judge which are good fits for my trading objectives.

You are right scaling plan looks very good but not all $100k funds are the same. Once you start putting in DD limit of 4% makes a massive difference to what you can do and achieve.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #27
  • Sep 7, 2020 2:38am Sep 7, 2020 2:38am
Quoting Ramivb
one more thing which tools are you using for copy trade ?
I did initially use FXBlue personal trade copier which is free and pretty good I feel. But was talking to some other professional traders and now use Auto FX Pro as it is super quick and reliable. That is a paid one but cost is small when you look at the big picture.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #28
  • Sep 8, 2020 7:35am Sep 8, 2020 7:35am
Quoting Freefox
At last thread moved back to Trading Journals now so I can start to post on it regularly now. Quick update as trading day started already (will write more later). But passed the hardest part of the FTMO challenge, step 1 in 14 days. {image} So moved onto verification with that challenge and also opened a new $100k challenge with Enfoid. They have same trading rules but only offer a 50% payout - but better to diversify I feel. I am using a Trade Copier to trade both but with different risk settings as I only need 5% in 60 days in the verification...
Hey man, could you please name the trade copier you're using for the challenges? I'm searching for one with risk parameters in percentages of account balance or equity instead of multiples or whatever.

If you're worried it could be seen as shilling by the mods, I would appreciate a private message. Thanks.
  • #29
  • Sep 8, 2020 7:39am Sep 8, 2020 7:39am
Quoting LDFX
{quote} How about posting a trend Explorer for once ? Have you been founded yet or failed ? Strange though that it has been moved because you would be a fool to profit from the commission that FTMO offers on any upbringing traffic... Anyway, what about a Trend Explorer ? Cheers,
Wtf is up with you? It's alright to be suspicious but you don't have to be so hostile and offensive about it.
How do you expect to get answers from anyone when you keep talking like this? No one owes you a trade explorer, so if you would like to see one don't you think you should be polite with the request?
  • #30
  • Sep 8, 2020 7:42am Sep 8, 2020 7:42am
Quoting Freefox
{quote} I did initially use FXBlue personal trade copier which is free and pretty good I feel. But was talking to some other professional traders and now use Auto FX Pro as it is super quick and reliable. That is a paid one but cost is small when you look at the big picture.
I see you answered the copier inquiry already. Thanks.
  • #31
  • Edited 3:02pm Sep 10, 2020 2:51pm | Edited 3:02pm
Quoting Freefox
{quote} I have a spreadsheet where I evaluate each prop firm to make comparisons allowing me to judge which are good fits for my trading objectives.

1. Could you share this spreadsheet? I am also researching and comparing some companies.

2. About the rule of not trading during the news. If you open a position for example 2 hours before the news, it is not allowed to exit that position 5 minutes before and after the news. So how do you do it if you have an open position? Do you close the position even if at a loss?
  • #32
  • Sep 11, 2020 3:31am Sep 11, 2020 3:31am
Quoting Nathan.Fx
{quote} 1. Could you share this spreadsheet? I am also researching and comparing some companies. 2. About the rule of not trading during the news. If you open a position for example 2 hours before the news, it is not allowed to exit that position 5 minutes before and after the news. So how do you do it if you have an open position? Do you close the position even if at a loss?

Spreadsheet has personal stuff on ... maybe when I have time at some future point I will make a version which is ok for general circulation.

As for news - it is very little impact on me some weeks and absolutely none on others. FTMO it is 2 mins before/after news window. But let's look at the calendar of restricted events for the entirety of this week on currencies as an example.

Attached Image (click to enlarge)
Click to Enlarge Name: Res News.jpg Size: 44 KB

Just three events, that's it! Plus I don't trade CAD, so down to one event I need to consider ALL week. So I just drop a vertical line on my chart to warn me about it. So I need to potentially avoid a 4 minute window in the entire week, some weeks it is nothing. So its easy to handle.

For Enfoid it is not quite as well laid out for you and it is a 5 minute restriction window either side. Link here details the events to avoid.

https://www.enfoid.com/prop/restrictions

But then again, hardly difficult to mange once you have filtered out what is irrelevant to you.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #33
  • Sep 16, 2020 6:52pm Sep 16, 2020 6:52pm
Quoting Koop
{quote} Wtf is up with you? It's alright to be suspicious but you don't have to be so hostile and offensive about it. How do you expect to get answers from anyone when you keep talking like this? No one owes you a trade explorer, so if you would like to see one don't you think you should be polite with the request?

Well, what did you found offensive and not polite in my previous posts ?

Was it to ask for performances from posters that claimed all the benefits from companies while promoting them ?

If that is what you call hostile and offensive, ok up to you. I would actually call it being critical...
LDFX Trading Ltd
  • #34
  • Sep 19, 2020 4:18am Sep 19, 2020 4:18am
Quoting Freefox
{quote} Spreadsheet has personal stuff on ... maybe when I have time at some future point I will make a version which is ok for general circulation. As for news - it is very little impact on me some weeks and absolutely none on others. FTMO it is 2 mins before/after news window. But let's look at the calendar of restricted events for the entirety of this week on currencies as an example. {image} Just three events, that's it! Plus I don't trade CAD, so down to one event I need to consider ALL week. So I just drop a vertical line on my chart to warn...

as per FTMO , you are not allow to trade any pair during restricted news ( even CAD news you can't trade EURO )

I was researching on Enfoid , since they are not offering marked calendar showing restricted news , its easier to miss and trade it . , i have asked them twice what will causes if i trade news by mistake , no answer,

how do you manage you self on Enfoid news ?
  • #35
  • Sep 19, 2020 8:19am Sep 19, 2020 8:19am
Quoting Ramivb
{quote} as per FTMO , you are not allow to trade any pair during restricted news ( even CAD news you can't trade EURO )
Thanks for posting. But I think you are mistaken. It is pretty clear statement as to how the news restriction applies to only certain pairs.

Continuing my example, if there is CAD news it restricts you from trading CAD pairs ONLY. You are free to trade any other non-CAD pair during the CAD restricted period (eg, can trade EURUSD, GBPJPY etc. just not USDCAD, GBPCAD etc).

The image of the FTMO rules shown below clearly shows this and it would be hard to interpret it any other way I feel.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 56 KB

Enfoid don't have it laid out as easily as FTMO, but intention seems to be same on their restrictions page. But I'm not funded through Enfoid yet so not something I have to think too much about at this point.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #36
  • Sep 19, 2020 9:38am Sep 19, 2020 9:38am
Quoting Freefox
{quote} Thanks for posting. But I think you are mistaken. It is pretty clear statement as to how the news restriction applies to only certain pairs. Continuing my example, if there is CAD news it restricts you from trading CAD pairs ONLY. You are free to trade any other non-CAD pair during the CAD restricted period (eg, can trade EURUSD, GBPJPY etc. just not USDCAD, GBPCAD etc). The image of the FTMO rules shown below clearly shows this and it would be hard to interpret it any other way I feel. {image} Enfoid don't have it laid out as easily as...
Yes i read their website , terms conduction , and contract ..

i had concern regarding this point so i contacted Customer service through email , at first they say you can trade any other pair , next day they change and confirm you can't have any trade during this time ( not even SL hit will cause contract termination ) ,

will be good if you contact them and confirm , it's my way i alway go into detail before jumping in ,.
  • #37
  • Sep 20, 2020 5:18am Sep 20, 2020 5:18am
Well I was on holiday last week.

I wish I would have just focused on relaxing ... instead I couldn't resist placing some pending orders at key levels to enter trades while I was out and about enjoying myself. Well those didn't work out too well - end result, in my current Enfoid 30-day challenge account I'm not going to hit the target 10%. It only has a few days to run until it ends now and I'm just in profit so I am going to let the days just run down and then do a free re-start.

When I trade normally, I monitor things real-time and place market orders when the time is right. So for me to place limit orders was a deviation from how I normally trade and what am best at. Anyway, not too much damage done - other than the time commitment lost. But lesson learned; I have to control my excitement and adrenaline rush to always be trading even when I'm not in the optimal environment. In future I will stick to what I do best.

But I don't want to lose any momentum in my objective to hit $300k in funding in 6 months. So I've started a 2nd $100k challenge with FTMO. That is in addition to the $100k funded account I have already secured with them. Plus of course there is the Enfoid $100k restart that will come in end of this coming week. It is no extra effort trading 3 accounts as my trade copier takes care of all that.

So, overall I'm still ahead in my initial 6-month plan. Things will not always go 100% smoothly. Bit like an equity curve - things will go up and down and you have to be able to control your emotions during these phases.

Green pips to all
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #38
  • Sep 20, 2020 8:46am Sep 20, 2020 8:46am
Hey, man are you facing any issues with the FTMO server lately?

Also am waiting for your result with Enfoid. After I hear something positive might give them a try. But from what I am hearing so far it is not promising.

Subscribing to your thread and good luck with the new FTMO challenge!
  • #39
  • Sep 21, 2020 2:04am Sep 21, 2020 2:04am
Quoting daytradrfx
Hey, man are you facing any issues with the FTMO server lately? Also am waiting for your result with Enfoid. After I hear something positive might give them a try. But from what I am hearing so far it is not promising. Subscribing to your thread and good luck with the new FTMO challenge!
Thanks.

I've had no server issues at all with FTMO, though not the best person to give an assessment on last week as wasn't closely watching with been on holiday.

I've got no real concerns with Enfoid. I've done my due-diligence and there is plenty of social media evidence around to say they are genuine and make payouts etc.

Certainly they are not as slick when it comes to marketing (by far!) and probably customer service when compared to FTMO so they can improve there. But none of these prop-firms at the moment aren't without some issues that can be improved upon. But you have to look at the bigger picture and beyond egos/individuals and determine is what they offering of benefit to me personally in spite of some short falls? For me Enfoid most certainly pass my checks and are a good option. FTMO still at the moment the best in my eyes but for diversification Enfoid I feel are the next best to them.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #40
  • Sep 23, 2020 6:09am Sep 23, 2020 6:09am
Quoting Freefox
{quote} Spreadsheet has personal stuff on ... maybe when I have time at some future point I will make a version which is ok for general circulation.
Firstly, congrats for obtaining funding status! I'm also eyeballing this potential move but firstly, researching some firms. Hence, would also love if you could share a copy of your findings when you're able to please!
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