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  • #521
  • Oct 26, 2020 11:17am Oct 26, 2020 11:17am
Don't worry guys, I decided to open the thread up to imformative discussion so please carry on posting your comments.

Well I'm 5k up but I think I violated the daily loss limit this morning so I might be out of the game again I email them and see.
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  • #522
  • Oct 26, 2020 11:45am Oct 26, 2020 11:45am
Quoting Mtinifx
Don't worry guys, I decided to open the thread up to imformative discussion so please carry on posting your comments. Well I'm 5k up but I think I violated the daily loss limit this morning so I might be out of the game again I email them and see. {image}
Lol Please post your list of trades here or something so we can analyze and learn.

If you use an averaging down strategy where you add as price moves against you, then you need to adjust it within the risk parameters.

don't just randomly open 10 one lot positions... instead think to yourself "i want to lose only 1% ( $500 ) on this set up if i'm wrong, so i'm going open 10 positions and the stop loss for each much be at a dollar value of $50 each.

There's no way you can violate the limit if you manage risk like this and your strategy offers you at least a 55% win rate.

To be safer, i would risk maybe $300 per set up.. not even $500.

You also need to be more willing to accept your losses, stop hoping or praying your trades will reverse in your favour.
  • #523
  • Oct 26, 2020 11:50am Oct 26, 2020 11:50am
Quoting Mtinifx
Don't worry guys, I decided to open the thread up to imformative discussion so please carry on posting your comments. Well I'm 5k up but I think I violated the daily loss limit this morning so I might be out of the game again I email them and see. {image}
10% gain in a day? Just look at FXBlue banked and floating PNL (Hourly) you can answer your question yourself. Assuming you set it up before you traded.

Is that from a DAX short? Indices seems dropping hard. Are they predicting a Biden win? Oh no
  • #524
  • Oct 27, 2020 7:13am Oct 27, 2020 7:13am
Quoting maflip
{quote} 10% gain in a day? Just look at FXBlue banked and floating PNL (Hourly) you can answer your question yourself. Assuming you set it up before you traded. Is that from a DAX short? Indices seems dropping hard. Are they predicting a Biden win? Oh no
Hi Bro

Yes and no!

Can you possibly PM me? Like to share something interesting with you. Can't PM you because your messaging is disabled
  • #525
  • Oct 27, 2020 7:24am Oct 27, 2020 7:24am
Quoting Koop
{quote} Lol Please post your list of trades here or something so we can analyze and learn. If you use an averaging down strategy where you add as price moves against you, then you need to adjust it within the risk parameters. don't just randomly open 10 one lot positions... instead think to yourself "i want to lose only 1% ( $500 ) on this set up if i'm wrong, so i'm going open 10 positions and the stop loss for each much be at a dollar value of $50 each. There's no way you can violate the limit if you manage risk like this and your strategy offers...
Wow who needs George Soros, Simon Townshend or any of the other Gurus to tell where we're going wrong when we've got Koop!

I apppreciate the advice mate but it would be much easier to take, whether it's right or wrong, if we saw some evidence of your wonderful trading ability? Perhaps a TE or some trading history? Maflip and I are sharing our trading history but where is yours???

When people see what a marvelously profitable trader you are they would be much more willing to take your advice and criticism. Thank you
  • #526
  • Oct 27, 2020 8:23am Oct 27, 2020 8:23am
Quoting Mtinifx
{quote} Hi Bro Yes and no! Can you possibly PM me? Like to share something interesting with you. Can't PM you because your messaging is disabled
I'm not doing so good with DAX today. I thought they are going to make a full reversal after a bounce from yesterday's low. Stopped out then reversed short again. Just breaking even today. And a small profit worth a commission

Ok I'll send you a PM.
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  • #527
  • Edited 8:56am Oct 27, 2020 8:34am | Edited 8:56am
Quoting Mtinifx
{quote} Wow who needs George Soros, Simon Townshend or any of the other Gurus to tell where we're going wrong when we've got Koop! I apppreciate the advice mate but it would be much easier to take, whether it's right or wrong, if we saw some evidence of your wonderful trading ability? Perhaps a TE or some trading history? Maflip and I are sharing our trading history but where is yours??? When people see what a marvelously profitable trader you are they would be much more willing to take your advice and criticism....
Lmao Damn Man, i apologize. I didn't know i had to provide my trade history, T.E or prove my "wonderful trading ability" in order to give my opinion on risk management on a public forum, an opinion which is basically just common sense. But i do appreciate the Guru status which you have bestowed upon me .

The challenge is more about managing risk within the given parameters (which seems to be the reason for your setbacks), not just about profitability, so would my results show you how to handles risk better? Besides it's not a pissing contest or random thread, it's your journal {kinda}, so why should i prove anything?

lol No need to get your ego bruised buddy, if you want to keep throwing money away on challenges in the mean time, that's fine. Check my profile for my T.E from next week when i start the MFF thing to see how i try to manage risk. In the end, i want us all to win.
  • #528
  • Oct 27, 2020 8:39am Oct 27, 2020 8:39am
Quoting maflip
{quote} I'm not doing so good with DAX today. I thought they are going to make a full reversal after a bounce from yesterday's low. Stopped out then reversed short again. Just breaking even today. And a small profit worth a commission Ok I'll send you a PM. {image}
Which site analytics is this, Fxblue?
  • #529
  • Oct 27, 2020 11:42am Oct 27, 2020 11:42am
Quoting Koop
{quote} Which site analytics is this, Fxblue?
Yes FXBlue. It's what MFF uses.
  • #530
  • Edited 3:49am Oct 28, 2020 3:33am | Edited 3:49am
Quoting Koop
{quote} Lmao Damn Man, i apologize. I didn't know i had to provide my trade history, T.E or prove my "wonderful trading ability" in order to give my opinion on risk management on a public forum, an opinion which is basically just common sense. But i do appreciate the Guru status which you have bestowed upon me . The challenge is more about managing risk within the given parameters (which seems to be the reason for your setbacks), not just about profitability, so would my results show you how to handles risk better? Besides...
Koop you spend your time on various threads telling people what a great trader you are and running down various traders or telling them what to do. IF you going tell people how to to trade you need to have some record of why they should listen to you! You have absolutely NO idea of my trading style because I have not revealed it.

And I have not bestowed any Guru status on you because you have not proved any trading ability whatsoever. I very much doubt indeed that you are a trading guru. So far proved yourself to be a BIG talker. Full stop!!

You keep saying that you are going to open a Myff account (but we STILL don't see anything) and THEN we are going see what a wonderful trader you are and how you manage risk? OK!

Yes this is a public forum and I told you before that you are welcome to post here IF and WHEN you have a Myff or Forextips account and share your experience. Until then GOOD BYE
  • #531
  • Oct 28, 2020 6:43am Oct 28, 2020 6:43am
Quoting tradista
{quote} Yeah, on that I agree, they could be used as a secondary small and slow income stream (pocket money? ) and for diversification, but even for that there's better options imo.
What is the better option? Share please.

With Myff you can trade a $50000 account with the chance of getting 10% (rising to 15%) of any profit every two weeks paid into your Paypal account.

Taking the example of a 50k trading account, IF one is a good trader (I'm not suggesting that you are not a good trader) and can increase the account by 10% every 10 trading days, you'll have $1500 in your pocket after a month. Less the $285 you paid for the account, that's a clear profit of $1215. That's not too bad is it? Even if one can only achieve half of that, that's still 600 bucks profit. I wouldn't mind 600 bucks right now that's for sure!
  • #532
  • Oct 28, 2020 7:09am Oct 28, 2020 7:09am
at MFF , if a trader has two 2 separate accounts, then the consistency rules are separate for each account?...
  • #533
  • Oct 28, 2020 8:04am Oct 28, 2020 8:04am
Quoting Wanderer56
at MFF , if a trader has two 2 separate accounts, then the consistency rules are separate for each account?...
Yes absolutely.

Oh I forgot to post this response from Myff regarding consistency rule:

"Our consistency rule is very simple actually and can easily be calculated as well.

FOR THE FIRST WEEK: we take the average of all trades taken + lots traded and multiple it by 2 to come up with a max range.
Keep in mind this is average doubled. We do the same exercise to find the minimum range. Take average and divide by 2.

Does that make sense? This just ensures that traders are not jumping around and doing 1-2 trades/lots to 10-20. We are trying to encourage having a plan, executing it and more importantly sticking to it."
  • #534
  • Edited 6:53pm Oct 28, 2020 8:24am | Edited 6:53pm
Quoting Mtinifx
{quote} What is the better option? Share please.
I'm considering the 5%ers as the best secondary slow pace account building alternative. They will double your account size everytime you make 10% and your profits are actually transfered to you and not held in some kind of "account" on your behalf. I like that they don't use the "buying power" metaphor and actually talk of a live account "size". Also interesting is that your withdraw is actually not deducted from your account balance, so next month you still have that amount of profit to trade. Only issue is the 1:5 leverage which is quite limitating in terms of lotsizing, meaning that, for example, with FTMO you can get to 10% in a couple of weeks, here you'll probably need 2 or 3 months. So, yeah, over time profits start to show and if you're good, grinder and patient you can get to the 1M AUM in about 2 years.
Also, they've been showing there's real people behind the business, they are active and always fast in answering questions.
I have to say these are just my plans, after quite some due diligences, as I haven't taken seriously any challenge yet. Being an algo trader I am refining and adjusting my systems to both trading "profiles" until I get solid evidence that I can pass and meet my expected ROI. I am a very patient and meticulous planner / systems analyst but a very bad (too emotional) executor!
  • #535
  • Edited 12:37pm Oct 28, 2020 12:24pm | Edited 12:37pm
Anyone making a killing on DAX today? The highs of the H1 bars kept holding hopefully no one is longing lol. Anywho... How is everyone today?

But seems to be slowing down at 62% expansion of the H1 bar with the highest volume today. If they can hold it here....

Then... Well see tomorrow. Will there be a pull back finally? But there was a scalp there earlier... Didn't last though...

Anyway, just dropping by.... Tough day for bulls today.
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  • #536
  • Oct 29, 2020 9:37am Oct 29, 2020 9:37am
DAX pretty nasty today but GOLD very good!

Guys there is some activity on Facebook regarding some guy who is complaining he never got paid. But on examination he violated the3 min. trading days rule. In fact it appears that Tickmill suspend Demo accounts if not traded for a week.

Just a word of warning there I suppose - if one is going to take a trading holiday one needs to inform them
  • #537
  • Oct 29, 2020 10:54am Oct 29, 2020 10:54am
Quoting Mtinifx
DAX pretty nasty today but GOLD very good! Guys there is some activity on Facebook regarding some guy who is complaining he never got paid. But on examination he violated the3 min. trading days rule. In fact it appears that Tickmill suspend Demo accounts if not traded for a week. Just a word of warning there I suppose - if one is going to take a trading holiday one needs to inform them
Ok I got a Tickmill Demo account. The one I use before switching to ICMarkets. It's Day 5 today. Let's see if it's going to be deactivated at end of day today or later tomorrow. Actually it's already been 7 days if you include weekends.
  • #538
  • Oct 30, 2020 3:12am Oct 30, 2020 3:12am
Ok so account still works maybe because I logged in. No trade for 7 days but it still works.
  • #539
  • Oct 30, 2020 3:33am Oct 30, 2020 3:33am
Quoting maflip
Ok so account still works maybe because I logged in. No trade for 7 days but it still works.
Yes that point is unclear - but apparently the guy violated the minimum trading day rule. Long discussion about it on Facebook


Anyway mixed market again today - is it the elections? DAX yo-yo up and down! Quick nice few pips if one scalps the swings I suppose
  • #540
  • Oct 30, 2020 3:49am Oct 30, 2020 3:49am
Quoting Mtinifx
{quote} Yes that point is unclear - but apparently the guy violated the minimum trading day rule. Long discussion about it on Facebook Anyway mixed market again today - is it the elections? DAX yo-yo up and down! Quick nice few pips if one scalps the swings I suppose
This is the real DAX. Lately I don't trade the first hour. The first hour can go up then reverse. After this first hour watch the next 30 mins bar. A break of that bar could be the real move. Then measure the range of the first hour. A move equal to that could be their target.
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