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  • #801
  • Jan 3, 2021 9:11am Jan 3, 2021 9:11am
Hi all,

It was rejected...no free retried or discount.
This drawdown based on last high water mark
Is also one of the reason stopping me to join.
However, I trade up positive 4 % before losing 4%.
Anyway, I know it's rules before join. It's part of the business. It's just that now the rules changed.
And since the deposit wasnt lose...may be I get a second free chance or discount.

Good attempt..

Thks
  • #802
  • Jan 3, 2021 9:21am Jan 3, 2021 9:21am
Quoting jinsen
Hi all, It was rejected...no free retried or discount. This drawdown based on last high water mark Is also one of the reason stopping me to join. However, I trade up positive 4 % before losing 4%. Anyway, I know it's rules before join. It's part of the business. It's just that now the rules changed. And since the deposit wasnt lose...may be I get a second free chance or discount. Good attempt.. Thks
No such a thing as free. If you went into drawdown and you lost the money, you have to pay again to join. It is simple as that. Also you need to start working on your money management, that way next time when you decide to join The5ers, you will not blow your account. Or you can always deposit your own money with the broker you choose to trade with and go from there. Just remember there is no firm out there like the5ers that offer this kind of capital to retail traders like us. So work on your money management, have a good strategy and start with small lots like 0.01. Go from there. Trade safe.
  • #803
  • Jan 3, 2021 9:37am Jan 3, 2021 9:37am
so...just curious....who are you?

ElectricAskingInAFriendlyVoiceSavant

Quoting The5ersTF
{quote} Hey ElectricSavant It's really not ok what you wrote, all our support goes through Snir Ahiel, Gil's partner. If you did not get a satisfactory answer, you could always ask for more explanations.
  • #804
  • Jan 3, 2021 9:59am Jan 3, 2021 9:59am
Techanalyst,

You are absolutely correct.

I bought a $1,000.00 adjustable bed from Walmart for 1K. Then Black Friday and Christmas came and that same bed was offered for $700.00. I took a long shot and called up and asked them, "Can I have that price and will you refund me the difference or do I need to return this bed and but it again? In their wisdom they chose to refund the difference.

Rules are great....but Jinsen has a good EA from what he tells us. It produces profit AND NOW it meets the rules. So why does he need to work on money management?

Techanalyst...I do not need to win this argument or whatever it is....I just hope that you can see Jinsens point.

ES

Quoting Techanalyst
{quote} No such a thing as free. If you went into drawdown and you lost the money, you have to pay again to join. It is simple as that. Also you need to start working on your money management, that way next time when you decide to join The5ers, you will not blow your account. Or you can always deposit your own money with the broker you choose to trade with and go from there. Just remember there is no firm out there like the5ers that offer this kind of capital to retail traders like us. So work on your money management, have a good strategy and start...
  • #805
  • Jan 3, 2021 10:50am Jan 3, 2021 10:50am
Quoting ElectricSavant
Techanalyst, You are absolutely correct. I bought a $1,000.00 adjustable bed from Walmart for 1K. Then Black Friday and Christmas came and that same bed was offered for $700.00. I took a long shot and called up and asked them, "Can I have that price and will you refund me the difference or do I need to return this bed and but it again? In their wisdom they chose to refund the difference. Rules are great....but Jinsen has a good EA from what he tells us. It produces profit AND NOW it meets the rules. So why does he need to work on money management?...
I understand. But this is not Walmart. This is trading business. The5ers are offering their capital to us traders. We pay a smaller fee. That's it. He does need to work on his money management, because he obviously blew his account. So he did something wrong, either was not having a good money management or used bigger lots and blew his account fast. If a trader wants to pay a certain fee to the5ers and they offer you certain amount of capital to trade with, you need to be experienced already with a strategy that brings you more profit then losses, and have a very good money management. As far as this goes, this is the best firm so far for retail traders like us. Others charge you for demo account first so you can prove it, and they give you a live capital after you prove that you can trade. Which my opinion about that is, I would not pay for demo account, to prove to trade. You already have a fee, you set the limit for loss and you go live trading. That is why the5ers have the best option. Trade safe.
  • #806
  • Edited 12:05pm Jan 3, 2021 11:49am | Edited 12:05pm
Techanalyst,

You start off by stating that you understand...But he did not 'BLOW" his account. If he traded the same way just a few months later he would be doing an interview with the 5%er's for his success. No matter what comparison I make to you ...you seem hellbent on arguing and proving your point...look I do not need to win...just pointing out positive solutions that's all...this should not have been a negative event is my point and could be turned around for the positive effect for all.

Techanalyst...I have a lot of respect for you but if you cannot see the point...then we must agree to disagree.

ES

P.S. This is not about restarts and collecting fees....The 5%er's have a chance to prove that and may have "passed by" a lot of talent in the past. They should not have the attitude....oh my gawd...all those traders are going to want a free evaluation! Jinsen may not get something for free but the 5%er's could be far more clever and offer a concession that would benefit them by keeping it positive.

Quoting Techanalyst
{quote} I understand. But this is not Walmart. This is trading business. The5ers are offering their capital to us traders. We pay a smaller fee. That's it. He does need to work on his money management, because he obviously blew his account. So he did something wrong, either was not having a good money management or used bigger lots and blew his account fast. If a trader wants to pay a certain fee to the5ers and they offer you certain amount of capital to trade with, you need to be experienced already with a strategy that brings you more profit then...
  • #807
  • Edited 12:43pm Jan 3, 2021 12:25pm | Edited 12:43pm
Here let me make it easy for us and show what "clever" could be!

All restarts from previous traders that have failed from the breach of the earlier rule of Drawdown must pay again...BUT....if you pass this time you get your participation fee refunded! You can have this limited redo for a limited time. (send an email out to all of those participants...if you only get 1% response then you are only ahead with money or a good trader found). This is positive. Many of you have not experienced the bitter feeling of defeat with the 5%er's..I have. I vowed to look forward in 2021 and try again. This is what I am doing and practicing. Some traders have not....they may even have a bad taste in their mouth towards the 5%er's. This gesture might help.

How does this hurt anybody? The 5%er's do not need to re-invent the wheel as the traders joins in the regular automated way...it is on the backend to do a refund. Minimal risk for the 5%er's which is the basis for fees in the first place. This policy suggestion is a way for the 5%er's to prove they are in this for the traders which they have done with all of their policies thus far.

ES

P.S. The 5%er's encourage posts like this and I am not poking my nose into THEIR business as they earlier have solicitated conversation from traders right here in Forex Factory. Besides, this is a public forum and I can post want I want...of course within the rules...lol...oh my gawd...do not change the rules Forex Factory!
  • #808
  • Jan 3, 2021 12:46pm Jan 3, 2021 12:46pm
I would fall off my chair if Snir were to post...Hey Electric your right!...it ain't going to happen as he probably does not even read this.

oh my gawd here comes the waste of time reply....Can you send an email: [email protected]
or through our live chat https://the5ers.com/

Anyways Have a Good Year Traders...I will be back with my new evaluation soon. I have some last minute tests to do because I do not trust December.

ES
  • #809
  • Jan 3, 2021 2:39pm Jan 3, 2021 2:39pm
Took the plunge today and will see how this goes.
Mark ... Everything you have been told is a LIE
  • #810
  • Jan 3, 2021 2:40pm Jan 3, 2021 2:40pm
Wow!...You did it...may today be the first day of the rest of your life.

ES

Quoting spzd
Took the plunge today and will see how this goes.
  • #811
  • Jan 3, 2021 2:44pm Jan 3, 2021 2:44pm
Thanks ES.

Doing the 10k into 40k low risk account.
Mark ... Everything you have been told is a LIE
  • #812
  • Edited 3:11pm Jan 3, 2021 2:55pm | Edited 3:11pm
Quoting ElectricSavant
Techanalyst, You start off by stating that you understand...But he did not 'BLOW" his account. If he traded the same way just a few months later he would be doing an interview with the 5%er's for his success. No matter what comparison I make to you ...you seem hellbent on arguing and proving your point...look I do not need to win...just pointing out positive solutions that's all...this should not have been a negative event is my point and could be turned around for the positive effect for all. Techanalyst...I have a lot of respect for you but if...
Why would they offer him anything, when he went into drawdown and the account is done? He blew his drawdown limit and lost the money. Why would they offer anything more? The point is, he blew his money and the account is closed for now. If he proved that he could make $500 in a first month and another and another month $500 than sure maybe, the5ers could message him and offer him something more than usual. We as traders have to take responsibilities and make the money and prove that we can trade and prove to the5ers that they can trust us and give us more capital to trade. It is not so hard to understand that. If you blew your drawdown and your account is closed, why should the5ers do anything extra for you and give you more of their capital or anything similar like that? I don't understand what you're trying to prove in this case. It's very simple. You deposit small fee, they give you certain capital. There is a goal how much you should make in 6 months. Let's say you have to make $500 in 6 months. But you make that in a month, with very good money management, and you did not go into maximum drawdown, once you succeed, they give you more money, you make more, they give you more money PLUS you get to take 50% of what you made every month as long as you are profitable. What would you like that traders keep blowing accounts and the5ers just keep giving until maybe a trader gets it right? Come on, no one is going to do that. You have a good strategy, money management and experience that even in the worst month you will still be in positive and have a profit, you know how to trade and you are a full time trader. You make a living from it. IF you are not, than need to practice until you get it right, and than come back and have the5ers fund the capital. It's very simple.
  • #813
  • Jan 4, 2021 12:33am Jan 4, 2021 12:33am
Techanalyst,

I am not suggesting that traders that blow accounts keep get money until they get it right? Do I seem to be communicating that really?

When the rule change took place it was retroactive to the current traders...I suppose you think that was wrong too....

You are really missing the point and I grow tired of posting about this. We must agree to disagree.

ES

Quoting Techanalyst
{quote} Why would they offer him anything, when he went into drawdown and the account is done? He blew his drawdown limit and lost the money. Why would they offer anything more? The point is, he blew his money and the account is closed for now. If he proved that he could make $500 in a first month and another and another month $500 than sure maybe, the5ers could message him and offer him something more than usual. We as traders have to take responsibilities and make the money and prove that we can trade and prove to the5ers that they can trust us...
  • #814
  • Jan 4, 2021 12:34am Jan 4, 2021 12:34am
Seems like a plan! Good Trading to you.

ES

Quoting spzd
Thanks ES. Doing the 10k into 40k low risk account.
  • #815
  • Jan 4, 2021 6:03am Jan 4, 2021 6:03am
Quoting ElectricSavant
Techanalyst, I am not suggesting that traders that blow accounts keep get money until they get it right? Do I seem to be communicating that really? When the rule change took place it was retroactive to the current traders...I suppose you think that was wrong too.... You are really missing the point and I grow tired of posting about this. We must agree to disagree. ES {quote}
Than stop posting nonsense. He blew his account before or after the rules change. That still does not give anyone privilege to get extra. They will not change or do favor for anyone that loses money. I made my point. It is not agree to disagree, in this case you are 100% wrong.
  • #816
  • Jan 4, 2021 9:45am Jan 4, 2021 9:45am
Forex Trading Room January 4 – 8, 2020

Here's today's recording Forex Trading Room Session.

Inside Today’s Forex Trading Room Session we analyzed the charts for the upcoming week, we start with the higher time frames and then check the lower time frames to look for intraday opportunities.

Today we analyzed some pairs according to the trader's demands, we summarized the yearly pair's performance for some of them
We found one opportunity to sell the GBPJPY as a short-term opportunity

Enjoy!
We are Forex traders - Come trade with us
  • #817
  • Edited 5:52am Jan 5, 2021 3:54am | Edited 5:52am
Quoting ElectricSavant
Techanalyst, You start off by stating that you understand...But he did not 'BLOW" his account. If he traded the same way just a few months later he would be doing an interview with the 5%er's for his success. No matter what comparison I make to you ...you seem hellbent on arguing and proving your point...look I do not need to win...just pointing out positive solutions that's all...this should not have been a negative event is my point and could be turned around for the positive effect for all. Techanalyst...I have a lot...
"If he traded the same way just a few months later he would be doing an interview with the 5%er's for his success."

My grandfather used to say IF he'd been born with wheels he would have been a bicycle... As much as humans like to wonder about "what if's", IF doesn't exist in the real-world, only in your head...
  • #818
  • Jan 5, 2021 7:45am Jan 5, 2021 7:45am
Quoting ElectricSavant
Techanalyst, I am not suggesting that traders that blow accounts keep get money until they get it right? Do I seem to be communicating that really? When the rule change took place it was retroactive to the current traders...I suppose you think that was wrong too.... You are really missing the point and I grow tired of posting about this. We must agree to disagree. ES {quote}
The current traders didn't violate the drawdown rules so there isn't anything wrong with changing the rules in their favour. The bottom line is the rules are pretty clear and explicit, and if you can't adhere to them you have no business trading other people's capital.
  • #819
  • Jan 5, 2021 7:51am Jan 5, 2021 7:51am
For swing trading, I have to say The5ers is better. traders get more time to pass the challenge. It's better and less stressful
MA provides the market's current direction and strength.
  • #820
  • Jan 5, 2021 11:59pm Jan 5, 2021 11:59pm
Dear fellow Traders,

I am introducing Special Technical Analysis for New Year 2021. Take your risk free and trade all your favorite CFD Instruments: Forex, Stocks, Cryptocurrencies, Commodities and Indices.

Indicators:
8 simple moving average (Blue 8 SMA).
55 simple moving average (Red 55 SMA).
MACD indicator (12,26,9).
RSI indicator (14).

The rules are as follows:

Long Trades:
The price should be above the 2 SMAs.
The Blue (8 SMA) should be above the Red (55 SMA).
The RSI should be crossed up 60 level.
The MACD should be above the 0 line.

Short Trades:
The price should be below the 2 SMAs.
The Blue (8 SMA) should be below the Red (55 SMA).
The RSI should be crossed down 40 level.
The MACD should be below the 0 line.

Please note: I use them flexibly and depending on what I see as the overall context.

..................................................................................................................................

Technical Analysis today: WTI

Attached Image (click to enlarge)
Click to Enlarge Name: WTI.png Size: 115 KB



Resistance: 52.00/54.50/57.00…
Support: 49.50/47.00

Trade idea: Go long at the support zones.
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