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prop firm new model - my trading journey

  • #361
  • Sep 19, 2020 12:03pm Sep 19, 2020 12:03pm
Quoting rtkwar
{quote} Why you not just ask firm if your system ok with them or against consistency rules? .
Because I dont trust their word for such important things. If it was that easy, why dont they just make their rules clear and strict?


Quoting rtkwar
{quote}...If risk 100$ per trade then don't jump to 1000$ in other trade ....
I have strategies that take 0.01 lots and others 10 lots. Does not mean that I m inconsistent in my earnings on the long term. I diversify and it works. "inconsistency" is a completely empty word if it is not backed up by precise definitions, in my opinion.


Quoting rtkwar
{quote} And yes ftmo if you checked their history they rejected to payout to some because they can't copy their trades into live. And i don't think regulations will give any protection not in canada or Czech in ftmo case . Probably you end paying more than your profits to lawyers
You didnt understand me on that canadian regulations point... Its not about the protection, its about the permit you need to have if your going to trade someone elses money... Dont take my word for it, call them ! But if youre not canadian youre ok for now.. And theyll relocate if they have to much problems with them on the long run. And I wasnt talking about rejecting payouts for copied trades. I am afraid you didnt read my post very well, but your input is still very valid and interesting, thanks !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #362
  • Sep 19, 2020 12:28pm Sep 19, 2020 12:28pm
Quoting rtkwar
{quote} Why you not just ask firm if your system ok with them or against consistency rules? . That's what i did with forextips ,. i explained to them how i trade and they told me. They can't accept my system because it's against consistency rule, and i don't think that rule really complicated it's simply about same risk per trade. If risk 100$ per trade then don't jump to 1000$ in other trade ..don't use martingale or not take high risk because you thinking it's good chance to put all eggs in one basket. You can always tell firms about your system...

Fair point and that's exactly what I did - Maflip too I think.

I told that my maximum lot size and I have not exceeded that.

In actual fact it's kept me in the game. Can't over-leverage any more. Kind of makes you think, doesn't it!
  • #363
  • Sep 19, 2020 12:33pm Sep 19, 2020 12:33pm
Quoting mtako
{quote} Because I dont trust their word for such important things. If it was that easy, why dont they just make their rules clear and strict? {quote} I have strategies that take 0.01 lots and others 10 lots. Does not mean that I m inconsistent in my earnings on the long term. I diversify and it works. "inconsistency" is a completely empty word if it is not backed up by precise definitions, in my opinion. {quote} You didnt understand me on that canadian regulations point... Its not about the protection, its about the permit you need to have if your...

It's really a case of what they say in their rules. It's fairly clear really. They don't want people averaging 2 - 4 lots and suddenly trading 10 - 12 lots unless you tell them you're going to do that on a regular basis because it's part of your trading plan. It's a matter of layihg down your trading style to them beforehand so that there is no confusion afterwards
  • #364
  • Sep 19, 2020 12:44pm Sep 19, 2020 12:44pm
I get that, but its still only their word. They might say they accept your trading style one day, but its only their word. Just like they accepted that trader one day, then the next, after all his hard work and profit, didnt pay him. I know its different, but at the end it comes down to their word, which have no value in the face of the written aggreement.

They should really have precise rules stating exactly what is not accepted and what is, thats all Im saying, and for all companies.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #365
  • Sep 19, 2020 12:49pm Sep 19, 2020 12:49pm
Quoting maflip
{quote} I asked them about that since my lot size varies based on volatility. They said its ok as long as it's not drastic change. However, what they say now can change when you go actual trading... {image}
Maflip understands the very real possibility of this happening. It happens more often than one thinks. Thats why I never do business anymore unless its all written down with nothing subjective whatsoever.

In business, more often than not, most think good heartedly :

their word is just as good as the written contract

Unfortunately, the reality is more

their word !=== written contract

And more often then we think, the one that wrote the contract takes advantage of that one day.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #366
  • Edited 4:11pm Sep 19, 2020 3:58pm | Edited 4:11pm
Ok, so far so good. I just received my payout thru Paypal, less Paypal fee....... 5%
  • #367
  • Sep 19, 2020 4:02pm Sep 19, 2020 4:02pm
Well done mate ! I guess the monthly fee is off forever once youre in ?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #368
  • Sep 19, 2020 4:13pm Sep 19, 2020 4:13pm
Quoting mtako
Well done mate ! I guess the monthly fee is off forever once youre in ?
Yes no monthly fee as long as account remain active. No monthly fee even if I buy another account.
  • #369
  • Sep 19, 2020 4:26pm Sep 19, 2020 4:26pm
How many accounts does My Forex Funds allow you to purchase in total and can they be combined to trade from one MT4 terminal?
  • #370
  • Sep 19, 2020 4:33pm Sep 19, 2020 4:33pm
Also does anyone know how much the DAX spread averages during the London liquid session on Tickmill?
  • #371
  • Sep 19, 2020 4:39pm Sep 19, 2020 4:39pm
Quoting Wanderer56
How many accounts does My Forex Funds allow you to purchase in total and can they be combined to trade from one MT4 terminal?
They told me at this time max is $250k. They won't allow trade copier... However, if you can find a trade receiver that does not generate a magic number it will be fine, I confirmed this with support. My suggestion, if you are thinking of jumping in, start small and make it grow like what I'm doing. Company is still new, but this is just me.

You can purchase multiple accounts as long as it does not exceed $250k and then combine it into a single account.

Best to contact support if you have question though. They reply very quick.
  • #372
  • Sep 19, 2020 5:50pm Sep 19, 2020 5:50pm
Thanks, I did find something that will work with multiple accounts...MT4 trade manger FX Synergy...to the best of my knowledge it does not use a magic number for multiple accounts...it has that capability but its optional ...
  • #373
  • Sep 19, 2020 6:15pm Sep 19, 2020 6:15pm
Quoting maflip
{quote} There is also one I'm thinking of buying it's cheap just $14. https://www.forexfactory.com/thread/...4#post13163004
Might want to google Info Board EA...its free, works spot on, have no idea if its clear of magic number, there isn't one showing in inputs.
Could always check with them.
  • #374
  • Sep 20, 2020 2:48am Sep 20, 2020 2:48am
Three or four guys got paid last week:

One received around $900 -


https://www.facebook.com/groups/2296075200687446/
  • #375
  • Sep 20, 2020 2:50am Sep 20, 2020 2:50am
Would be nice if Myff had members area with Matrix, etc.! They said that it will come but don't know when
  • #376
  • Sep 20, 2020 9:13pm Sep 20, 2020 9:13pm
Quoting moodybot
{quote} Might want to google Info Board EA...its free, works spot on, have no idea if its clear of magic number, there isn't one showing in inputs. Could always check with them.
That EA is really good. Exactly what I need and it's free! Better than the one I'm using...
  • #377
  • Sep 21, 2020 2:51am Sep 21, 2020 2:51am
Quoting maflip
{quote} That EA is really good. Exactly what I need and it's free! Better than the one I'm using...
  • #378
  • Edited 5:38am Sep 21, 2020 5:08am | Edited 5:38am
Guys what do you think of Blufx?

They offer live account immediately which means you start earning on 1st day
4 stages of growth and in the 4th stage you no longer pay subscriptions

No evaluation

5% target for profit split
  • #379
  • Edited 6:32am Sep 21, 2020 6:08am | Edited 6:32am
Quoting Phronesis24
Guys what do you think of Blufx? They offer live account immediately which means you start earning on 1st day 4 stages of growth and in the 4th stage you no longer pay subscriptions No evaluation 5% target for profit split
I only read their website really quick. There is a monthly fee, you need to make at least 1% a month profit to break even. But, you don't get paid if you don't hit at least 5% in a month. So 1% is not enough, you will be charged a fee again to keep trading for next month. Leverage is 1:3, and .50 max lot per trade. Don't expect to make thousands of dollars due to that limitation. Also, due to this limitation, making 5% a month may not be easy after all. But, I don't know, I haven't tried with this firm. If you look at Trustpilot, other traders review there is 50/50.

As for me, I will not go there. Just my opinion...

EDIT: If they would remove the 5% a month target for profit split. The 1:3 leverage and the .50 max lot per trade. Even if there is a monthly fee. I'm in. But right now, stay away.
  • #380
  • Sep 21, 2020 6:55am Sep 21, 2020 6:55am
Quoting Phronesis24
Guys what do you think of Blufx? They offer live account immediately which means you start earning on 1st day 4 stages of growth and in the 4th stage you no longer pay subscriptions No evaluation 5% target for profit split
UK Limited company. Very small when their last accounts were filed. Research them here:
https://beta.companieshouse.gov.uk/c...filing-history
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