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The5ers - Trading & Growth Program

  • #441
  • Nov 4, 2020 8:05am Nov 4, 2020 8:05am
Quoting TrendLover
{image} I have the impression that before it was allowed to have only one account. I was now reading the FAQ and saw that it is allowed to have up to 3 accounts. But in different programs. How is this in practice? What characterizes a program? The capital or the type of risk? If it is capital then we have 7 programs. If it's due to the type of risk, then we only have 2 programs. Can't I have 3 accounts of 80k at the same time? But can I have an 80k, a 52k and a 40k? Gil explain that.
Hey @TrendLover

We allow up to 3 accounts per trader, it can be any program you wish and they don't have to be the same program, it can be a different 3 programs.

Best...
We are Forex traders - Come trade with us
  • #442
  • Nov 4, 2020 9:41am Nov 4, 2020 9:41am
Quoting The5ersTF
{quote} Hey @TrendLover We allow up to 3 accounts per trader, it can be any program you wish and they don't have to be the same program, it can be a different 3 programs. Best...
Wow, how cool. It got me motivated.

Evaluation accounts cannot be merged. But can the 3 funded accounts be merged?
  • #443
  • Nov 4, 2020 10:31am Nov 4, 2020 10:31am
Pardon the interruption, Why would you want to merge them?

ES

Quoting TrendLover
{quote} Wow, how cool. It got me motivated. Evaluation accounts cannot be merged. But can the 3 funded accounts be merged?
  • #444
  • Nov 4, 2020 11:46am Nov 4, 2020 11:46am
Quoting ElectricSavant
Pardon the interruption, Why would you want to merge them? ES {quote}
Because merging is better than managing 3 instances of MT4 and EAs to copy operations between accounts. It is much more practical. Saves time, computer resources (cpu, ram) and less work.

Especially because I trade my own accounts and the accounts of other prop firms.
  • #445
  • Nov 4, 2020 1:21pm Nov 4, 2020 1:21pm
Ahoy

I'm interested in trying out 5%ers in a close future. Anyone here that have been with them for a long term and can write a review? Are you satisfied?
Also, anyone have tips on how to avoid the 4% drawdown since I think that will be a struggle for me as a new trader and something I need to practice on before jumping on. Any other tips about the evaluation would be greatly appreciated.

Thanks.
  • #446
  • Nov 4, 2020 4:48pm Nov 4, 2020 4:48pm
Quoting Daletrade
Ahoy I'm interested in trying out 5%ers in a close future. Anyone here that have been with them for a long term and can write a review? Are you satisfied? Also, anyone have tips on how to avoid the 4% drawdown since I think that will be a struggle for me as a new trader and something I need to practice on before jumping on. Any other tips about the evaluation would be greatly appreciated. Thanks.
In a close future? What is the hold up? Get the cheapest offer they have and start now. Use the 0.01 lots until you become profitable. Nothing better than trading live while learning. You will get that feeling what is it like to win and lose. With them for a while. Very satisified. The number one thing is money management. Don't risk more than 1% even better risk less than 1%.Trade safe.
  • #447
  • Edited 7:26pm Nov 4, 2020 5:27pm | Edited 7:26pm
Quoting Techanalyst
{quote} In a close future? What is the hold up? Get the cheapest offer they have and start now. Use the 0.01 lots until you become profitable. Nothing better than trading live while learning. You will get that feeling what is it like to win and lose. With them for a while. Very satisified. The number one thing is money management. Don't risk more than 1% even better risk less than 1%.Trade safe.
I do trade live but on a small account. That's a good question. I think it's the DD on my account (7%). On the other hand I'm pretty sure I could lower that quite substantially by just not taking stupid risks and taking it more seriously than on my small account. So either way I think the evaluation would be a educational experience. I have showed consistent profit for a while now and starting to understand how to react with the market.

Close future could mean tomorrow?

Thanks for the response!
  • #448
  • Nov 4, 2020 6:56pm Nov 4, 2020 6:56pm
Quoting TrendLover
{quote} Wow, how cool. It got me motivated. Evaluation accounts cannot be merged. But can the 3 funded accounts be merged?
Will need verification on this but I believe the 3 accounts can't run the same strategy.

The whole thing is kind of confusing. So if I run 3x 80k profits and keep earning. Are you saying someone can end up managing 3+m$ running the same strategy??
The best strategy is a profitable one.
  • #449
  • Nov 4, 2020 7:37pm Nov 4, 2020 7:37pm
Quoting AnRan
{quote} Will need verification on this but I believe the 3 accounts can't run the same strategy. The whole thing is kind of confusing. So if I run 3x 80k profits and keep earning. Are you saying someone can end up managing 3+m$ running the same strategy??

The5%ers risk management rules are already very strict.

Why force a trader to trade on 3 different accounts and use 3 different strategies? This would only hinder the trader.

How many strategies does a trader need to have to earn a living as a trader?

The more you diversify, the more random your results become. All the professional traders I know only have and need only one winning strategy.

In practice this would be like a rule of consistency. And that would open the door to a world of implicit rules like MyForexFunds and FundingTalent.
  • #450
  • Nov 4, 2020 7:57pm Nov 4, 2020 7:57pm
Quoting TrendLover
{quote} The5%ers risk management rules are already very strict. Why force a trader to trade on 3 different accounts and use 3 different strategies? This would only hinder the trader. How many strategies does a trader need to have to earn a living as a trader? The more you diversify, the more random your results become. All the professional traders I know only have and need only one winning strategy. In practice this would be like a rule of consistency. And that would open the door to a world of implicit rules like MyForexFunds and FundingTalent....
I don't care about the reasons why. I agree with you but I still don't care. People have reasons for the things they do. Who cares what pros you know do, others don't do it. I'm just trying to find the intent or reason for this rule. Or the requirements associated with them like different strategies.

With 5:1 being a limiting factor someone may want to run their strat on a higher time frame. And then another on a lower timeframe so they don't feel margin issues. Again, idk, I don't care. The bottom line is 5ers offers it, so what are the limitations around it. That's all that matters.
The best strategy is a profitable one.
  • #451
  • Edited 9:03pm Nov 4, 2020 8:38pm | Edited 9:03pm
Quoting AnRan
{quote} I don't care about the reasons why. I agree with you but I still don't care. People have reasons for the things they do. Who cares what pros you know do, others don't do it. I'm just trying to find the intent or reason for this rule. Or the requirements associated with them like different strategies. With 5:1 being a limiting factor someone may want to run their strat on a higher time frame. And then another on a lower timeframe so they don't feel margin issues. Again, idk, I don't care. The bottom line is 5ers offers it, so what are the...

As far as I know there is no such rule of using different strategies for each funded account. I didn't find it in the terms and conditions, in the FAQ, or on any page on the site. Gil needs to get his word out about this.

And as I said, different strategies lead to different results. It gets random. You win on one account and lose on the other, or lose on both. And so you go around in circles. This does not make sense, more hinders than helps.

Especially if you operate in the manual. You would have to divide yourself into 3 different ways of thinking. This would only increase your doubts.


If a profitable trader wants to use different strategies, ok. But if other profitable traders prefer to work with just one strategy that works for them, I believe that this should not be a problem. After all, the most important thing is that all traders make money for the company, right?
  • #452
  • Nov 4, 2020 9:18pm Nov 4, 2020 9:18pm
Quoting The5ersTF
Hello Nathan We allow trading on multiple evaluations, as long the accounts are not coordinated or duplicated in any way. As long as each account demonstrates a different activity, you're good and so we are.
I found it. I knew I read this before. So now we know multiple means 3. And yes, 3 different strategies.
The best strategy is a profitable one.
  • #453
  • Nov 4, 2020 9:33pm Nov 4, 2020 9:33pm
No. At the time that this answer was given, it was only allowed to have 1 funded account. It turns out that things changed for the better in October. And it is now possible to have 3 accounts funded. And that September 2, response was about evaluation accounts. So it's not the same. I'm talking about funded accounts.

And as I already explained. It makes no sense to force a trader to work with 3 different strategies.

This is what will happen. The trader has a single profitable strategy and will use that strategy in an account. But the trader wants more capital. but if he is prevented from using the same strategy on other accounts, he will try his luck using any strategy. Is that what the company wants? May the trader try his luck with any strategy? Isn't it better to let him continue using his favorite and profitable strategy?

It would be a pathetic rule. Showing that the company prefers players who try their luck with any strategy. than serious traders who prefer to work with only one strategy that works for them.
  • #454
  • Nov 4, 2020 9:41pm Nov 4, 2020 9:41pm
As we know, Gil has primed us about forthcoming changes with 5ers.

My hope, as with TrendLover, is that all 3 accounts can be combined and traded as one using whatever strategy works for the trader.
Amor Fati--F. Nietzsche
  • #455
  • Nov 4, 2020 9:50pm Nov 4, 2020 9:50pm
Quoting TrendLover
No. At the time that this answer was given, it was only allowed to have 1 funded account. It turns out that things changed for the better in October. And it is now possible to have 3 accounts funded. And that September 2, response was about evaluation accounts. So it's not the same. I'm talking about funded accounts. And as I already explained. It makes no sense to force a trader to work with 3 different strategies. This is what will happen. The trader has a single profitable strategy and will use that strategy in an account. But the trader wants...
I don't mean this in an argumentative way. It doesn't matter what you think makes sense with 3 funded accounts. It can make perfect sense for someone else. The bottom line is its offered, so I wanted to understand more about it, not try to understand why you are for or against it. If it doesn't make sense for you, don't do it .

When I read this in September, my assumption was 3 evaluations led to 3 different funded accounts. It's kind of obvious. On top of that, he said if your strategy is profitable, just go through the steps. No need to combine evaluations. I think people want to combine evaluations to hurry up through the process. But successful trading a long term mentality. And it's obvious that this is 5ers goal, or they wouldn't have rules like a 40 trade minimum. They want to see more than just 20 trading days.

His response to multiple evaluations (and obviously multiple funded) is below.

"The idea for the program is to locate good traders. There is only one account needed for that. The Evaluation is designed in a way where you receive a limited live account to showcase your strategy. Once it qualifies you to be funded with the full capital. So the idea to multiply evaluation accounts for the same strategy isn't needed. For more capital, simply trade successfully, and double your account at milestones. This is simply less risk and cost for you. Why we do allow multiple evaluations? A secret to be told, at first we didn't let this at all. But traders demanded this asking to demonstrate different strategies at once. This way, we definitely welcome, so we decide to allow this under these guidelines." - the5ers

So again, yes you can have multiple evaluations which obviously lead to different funded accounts for different strategies. SO now we know the answer is 3.
The best strategy is a profitable one.
  • #456
  • Nov 5, 2020 12:39am Nov 5, 2020 12:39am
Quoting AnRan
{quote} I don't mean this in an argumentative way. It doesn't matter what you think makes sense with 3 funded accounts. It can make perfect sense for someone else. The bottom line is its offered, so I wanted to understand more about it, not try to understand why you are for or against it. If it doesn't make sense for you, don't do it . When I read this in September, my assumption was 3 evaluations led to 3 different funded accounts. It's kind of obvious. On top of that, he said if your strategy is profitable, just go through the steps....
Hey friends
You can sign up for 3 different accounts.
You can trade with any strategy you want!
We are Forex traders - Come trade with us
  • #457
  • Nov 5, 2020 6:30am Nov 5, 2020 6:30am
Quoting The5ersTF
{quote} Hey friends You can sign up for 3 different accounts. You can trade with any strategy you want!

Can the 3 funded accounts also be merged?
  • #458
  • Nov 5, 2020 6:35am Nov 5, 2020 6:35am
Hold on, we can open three different accounts instead of just one?
  • #459
  • Nov 5, 2020 6:52am Nov 5, 2020 6:52am
Quoting TrendLover
{quote} Can the 3 funded accounts also be merged?
Hey TrendLover

You can't merge the account together.
We are Forex traders - Come trade with us
  • #460
  • Nov 5, 2020 6:54am Nov 5, 2020 6:54am
Quoting Techanalyst
Hold on, we can open three different accounts instead of just one?
Hey @Techanalyst

Yes, You can register for up to 3 different evaluation programs,.
We are Forex traders - Come trade with us
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