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The5ers - Trading & Growth Program

  • #961
  • Feb 5, 2021 10:47pm Feb 5, 2021 10:47pm
Quoting NewTrader000
Technical Analysis today: WTI {image}
Resistance: 52.00/54.50/57.00…
Support: 49.50/47.00
Trade idea: Go long at the support zones.
Trade idea: Go long at the support zones.

And...

Attached Image (click to enlarge)
Click to Enlarge Name: 45bb64bf714792222ae10bf76ea8b2da.png Size: 56 KB



Achieved Resistance 3 @57.00 so far...
  • #962
  • Feb 6, 2021 3:34am Feb 6, 2021 3:34am
Quoting Dyekid217
Hey everyone, Interested in starting up an 80k challenge soon as ive finally ironed out a consistent strategy and passed an eval at a comparable firm. Would you guys mind sharing what your risk management plan is? Mine would likely be 0.5% max risk on any position and keep scaling back if i go on a losing streak. It basically gives me 8R at max risk but obviously if i take a loss i want to cut to 0.25% and then 0.10% etc etc until i start a new win streak.


Hmm following up on this post as i see there are a lot of negative comments and scrutiny about the dd limits.

If you did the math, youd realize if you are a successful and consistent trader and can reach portfolio managing partner across 3 diff accounts, risking just 0.5% gives you $20,000 of risk per position. That is absolutely massive. And risking just 0.25% or 0.5%, its absolutely possible to get to that level in 2-3 years
Hitting all the targets. Maybe even less if you are an outstanding trader.

I know my risk management plan works long term in smoothing equity so if I end up losing 8R when scaling back risk, im not a good trader, plain and simple.

So i guesss my question is more toward successfully funded 5%ers. What is your risk management plan?
  • #963
  • Feb 6, 2021 11:55pm Feb 6, 2021 11:55pm
Quoting The5ersTF
{quote} Hey friends You can sign up for 3 different accounts. You can trade with any strategy you want!
Hello Gil,
To clarify once again. Does this mean I can run the same EA on all 3 accounts where it will buy and sell and close at same prices?
I did not understand it in your submission on the subject and the website just talks about having three accounts and not really if you should run different or same strategies.
I am currently on my first aggressive account and 4% up. I have plans of having all 4 accounts. But I want to know if I can use one EA on all three accounts or each account has to have a different strategy running on it.
  • #964
  • Feb 7, 2021 12:50am Feb 7, 2021 12:50am
Quoting michaframp
{quote} Hello Gil, To clarify once again. Does this mean I can run the same EA on all 3 accounts where it will buy and sell and close at same prices? I did not understand it in your submission on the subject and the website just talks about having three accounts and not really if you should run different or same strategies. I am currently on my first aggressive account and 4% up. I have plans of having all 4 accounts. But I want to know if I can use one EA on all three accounts or each account has to have a different strategy running on it.
Hey michaframp
We would always prefer to see different strategies, but if you open 3 different accounts and trade the same, we will not disqualify you.
I wish you success!
We are Forex traders - Come trade with us
  • #965
  • Feb 7, 2021 1:37am Feb 7, 2021 1:37am
Quoting The5ersTF
{quote} Hey michaframp We would always prefer to see different strategies, but if you open 3 different accounts and trade the same, we will not disqualify you. I wish you success!
Thank you Gil. This is very well noted.
  • #966
  • Feb 8, 2021 9:42am Feb 8, 2021 9:42am
Forex Trading Room on February 8 – 12, 2021 - How the Supply and Demand method is applied to all kind of assets

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 few pairs according to the trader's requests for the upcoming week, we also analyzed the XAUUSD although The 5%ers program offers only FX pairs, the mission was to demonstrate to traders how Supply and Demand method is applied to all kinds of assets.

Don't miss our new resource Forex Trading Ideas. Find the best setups in the market right now, improve your skills and have more confidence in your strategies, and engage with the trading community of forex traders

Enjoy!
We are Forex traders - Come trade with us
  • #967
  • Feb 8, 2021 4:15pm Feb 8, 2021 4:15pm
Quoting Dyekid217
Hey everyone, Interested in starting up an 80k challenge soon as ive finally ironed out a consistent strategy and passed an eval at a comparable firm. Would you guys mind sharing what your risk management plan is? Mine would likely be 0.5% max risk on any position and keep scaling back if i go on a losing streak. It basically gives me 8R at max risk but obviously if i take a loss i want to cut to 0.25% and then 0.10% etc etc until i start a new win streak.
That is a good way to go about it. Cut size in a losing streak and increase it when winning.
  • #968
  • Feb 9, 2021 12:26pm Feb 9, 2021 12:26pm
Quoting michaframp
{quote} Thank you Gil. This is very well noted.
You are welcome, if you have any further questions, feel free to contact support: [email protected]
I wish you success!
We are Forex traders - Come trade with us
  • #969
  • Feb 11, 2021 5:49am Feb 11, 2021 5:49am
Today - Open Live Trading Room!

Have a look into The5ers Live Trading Room and join Snir as he trades and analyzes markets in real-time!

Today 11, 9:00 AM eastern time

Register Here for free:

https://zoom.us/webinar/register/WN_...S4a2Ru-o-Kz1CA

Attached Image (click to enlarge)
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We are Forex traders - Come trade with us
  • #970
  • Feb 12, 2021 5:27am Feb 12, 2021 5:27am
Swing trader Quincy advices how to pass The5ers program successfully. Quincy T. from the USA is now one of The5ers funded traders.

Inserted Video
We are Forex traders - Come trade with us
  • #971
  • Feb 12, 2021 8:00pm Feb 12, 2021 8:00pm
Quoting The5ersTF
Swing trader Quincy advices how to pass The5ers program successfully. Quincy T. from the USA is now one of The5ers funded traders. https://www.youtube.com/watch?v=VGT5OFAcYek
Excellent interview -- thank you Quincy, thank you @The5ers...
  • #972
  • Feb 14, 2021 3:55am Feb 14, 2021 3:55am
Hi Gil,
Does "180 days" mean "180 trading days" mean 9 months??
  • #973
  • Feb 14, 2021 4:14am Feb 14, 2021 4:14am
Quoting nizent
Hi Gil, Does "180 days" mean "180 trading days" mean 9 months??
Hey nizent

It means 180 days - 6 months
But if your 6 months is about to end and you need more time, you can always contact Support and ask for more time

Best...
We are Forex traders - Come trade with us
  • #974
  • Feb 14, 2021 8:51am Feb 14, 2021 8:51am
Quoting OutThere
{quote} I calculated the buying power of the 2 amounts given as per your instructional video. 1,280,000 1:6 7,680,000 Buying power 51,200 1:150 7,680,000 Buying power Your 1.28 million funding in a 1:6 leverage account has the same buying power of 51,200 in a 1:150 leverage account. Incidentally, $51,200 is what the usable amount is in a 1.28 million account. You've just dressed it sexy and put a bow on it. You maximized the look of generosity of doling out funds to the tune of 1.28 million while also basing an expectation of making a target profit...
Been awhile since I have posted on this buying power argument. I have come up with a very simple example which should clear it up for most:

Let's say, for the sake of round numbers, I wish to make $10,000 per month trading forex.

I have 3 options to chose from:

A. Trade a 1,000,000 account with 1:1 leverage
B. Trade a 100,000 account with 10:1 leverage or
C. Trade a 10,000 account with 100:1 leverage

In all 3 scenarios, we can all agree we will be trading a 10 lot position, lets say a xxx/USD pair for ease, so $100/pip
Again, in all 3 scenarios a gain of 100 pips will reach the goal of $10K of profit

Here's the ONLY difference, let's say you lose 80 pips ($8,000) over the course of several trades the first week of the month:

Scenario A- your account is in 0.8% DD, obviously plenty of room to recover
Scenario B- your account is in 8% DD, challenging but doable
Scenario C- yeah, 80% DD, you might get the account back in profit over the next year or two.

Now, let's take a poll, everyone please participate, which scenario would you prefer. Which one gives you the least chance of blowing your account and the best chance of being profitable long term?

Of course, using the ridiculous 1:00, 1:200, you can double your account in a day. I've done it, being in the US, for the past 5 years I have exclusively used off shore brokers, had 500:1 available. Of course, with that leverage, it's just as simple to give it right back the next day. So about 6 months ago, the intelligent part of my brain whispered to me:

YOU DON"T NEED LEVERAGE, YOU NEED CAPITAL!!!!!!!

As luck would have it, I didn't have 1,000,000 in the safe under the floor in my closet, so I am going to use 3-4 prop firms to scale up to 3-4 million over the course of 2-3 years by simply aiming for 2-3% per month. The one firm that requires a much larger gain in 30 days, I've already passed and am funded, so it' s a non issue.

The side benefits of using 1:1 are:
I am way less stressed
I sleep better even when I have open trades
I do not sit and stare at the screen all day

Now, I am going to go enjoy Valentine's Day with my beautiful wife using my prop firm profit split to fund the day!!!
  • #975
  • Feb 14, 2021 9:25am Feb 14, 2021 9:25am
Quoting pipmaster77
{quote} Been awhile since I have posted on this buying power argument. I have come up with a very simple example which should clear it up for most: Let's say, for the sake of round numbers, I wish to make $10,000 per month trading forex. I have 3 options to chose from: A. Trade a 1,000,000 account with 1:1 leverage B. Trade a 100,000 account with 10:1 leverage or C. Trade a 10,000 account with 100:1 leverage In all 3 scenarios, we can all agree we will be trading a 10 lot position, lets say a xxx/USD pair for ease, so $100/pip Again, in all 3 scenarios...
Nice big effort you put into this but there is one flaw.

You kept the traded size the same for all 3 cases: In all 3 scenarios, we can all agree we will be trading a 10 lot position

Wrong.

If I was trading these 3 accounts, maybe the first one would be a 10 lot position but the 2nd one would be a one lot and 3rd one a .1 lot.
Or maybe the trde size would be variable as the conditions demand.
That would give me room and flexibility to maneuver depending on the market conditions.

Now lets take the smallest example you made and superimpose it on the cheapest option of the 5ers. Keep in mind that the cheapest option and the 2nd option are proportionally the same but the 3rd option give you a bit of a better deal although you are paying a lot more than the $275. I'm just going by memeory, so I might be wrong.

I don't really feel like doing calculations but your 3rd option is 10,000 with a 100:1. If we reduce the leverage, it would approximately be $600 with a 1:6.
So, your .1 trade size leaves you with a .006 size trade. In other words, you can trade a cent account with it to be in line.
But if we assume you trade that 10.000 account with a 100:1 and if you trade it using only a .01 size, then if compared to a the cheapest 5ers account, then we have a $6000 account enabled to trade .01 sizes.

So, that happens to be exactly what the 5ers give you. A $6000 account that should be traded with a .01 size.
To be exact, the maximum number of trades you can have is around 32 X .01 lots but just a pip going against you, you run out of margin, so of course you would want to stay way below that. at 16 X .01 trades, you already are at 50% margin used. If you want to be frugal and trade using 10% of your margin, you can have .03 trades open.

Anyhoo, I had maybe off in my calculations (probably not) but I had departed from this thread and left the wise traders to make their own calculations and decisions for themselves before jumping in. I don't know why you revived me back in. Do you hate the 5ers and want them to lose their wide eyed customers? I wouldn't blame them if they get mad at you

Thanks for your efforts but it didn't change my mind at all. The spreadsheet that I posted in post #??? (find it for yourself) stands as is and tells the story of how a participant is getting pulled into this scheme because they aren't seeing the true picture.

Anyhoo, carry on with your $1000 target per month and hope you achieve it. Also, say hi to your beautiful wife for me.
  • #976
  • Feb 14, 2021 9:31am Feb 14, 2021 9:31am
Quoting OutThere
{quote} Nice big effort you put into this but there is one flaw. You kept the traded size the same for all 3 cases: In all 3 scenarios, we can all agree we will be trading a 10 lot position Wrong. If I was trading these 3 accounts, maybe the first one would be a 10 lot position but the 2nd one would be a one lot and 3rd one a .1 lot. Or maybe the trde size would be variable as the conditions demand. That would give me room and flexibility to maneuver depending on the market conditions. Now lets take the smallest example you made and superimpose...
And your flaw is you wouldn't be able to make 10K per month with 100 pip profit. You must READ the first part of the post. The goal is 10K profit per month using one of the 3 scenarios. You see, the big flaw in all of your arguments, is the personal account, with all the "buying power", you must maximize that leverage to get the same profit. Once again, as always, you take the pro in your argument without the con and vice versa on everyone else's.
  • #977
  • Feb 14, 2021 9:38am Feb 14, 2021 9:38am
Quoting pipmaster77
{quote} And your flaw is you wouldn't be able to make 10K per month with 100 pip profit. You must READ the first part of the post. The goal is 10K profit per month using one of the 3 scenarios. You see, the big flaw in all of your arguments, is the personal account, with all the "buying power", you must maximize that leverage to get the same profit. Once again, as always, you take the pro in your argument without the con and vice versa on everyone else's.
Alright, good on you trying to make 10% per month on your 10K account. Maybe that is why you have a beautiful wife to get excited about on Valentine's day and I don't.

PS: I don't know if I am taking the pro in my Valentine's argument without the con and vice versa, but it's my statement and I am sticking with it.

PSS: In my real account with a 1:500 leverage, I am actually making 10% per month for the past 6 months, so it is doable but with a 1:6, forget that performance.
  • #978
  • Feb 14, 2021 10:05am Feb 14, 2021 10:05am
Quoting OutThere
{quote} Alright, good on you trying to make 10% per month on your 10K account. Maybe that is why you have a beautiful wife to get excited about on Valentine's day and I don't. PS: I don't know if I am taking the pro in my Valentine's argument without the con and vice versa, but it's my statement and I am sticking with it. PSS: In my real account with a 1:500 leverage, I am actually making 10% per month for the past 6 months, so it is doable but with a 1:6, forget that performance.
Didn't say anything about 10% per month. I said a profit of 10K per month with 3 different scenarios. The bottom line is the more capital you have, the lower the leverage required to hit that goal. The fact is, the lower your leverage, the lower the risk of ruin. THAT CANNOT BE DEBATED. The more leverage you are using to make your 10% per month, as you say you are, the higher the risk of ruin. When presented in the way I have, you have no argument whatsoever.
  • #979
  • Feb 14, 2021 10:39am Feb 14, 2021 10:39am
Quoting pipmaster77
{quote} Didn't say anything about 10% per month. I said a profit of 10K per month with 3 different scenarios. The bottom line is the more capital you have, the lower the leverage required to hit that goal. The fact is, the lower your leverage, the lower the risk of ruin. THAT CANNOT BE DEBATED. The more leverage you are using to make your 10% per month, as you say you are, the higher the risk of ruin. When presented in the way I have, you have no argument whatsoever.
OK, you win.

however, I am making my 10%/mo with a 1:500 leverage quite comfortably without worrying about the risk of ruin. I think my average leverage used is about 1:15 or so. That is about a 3% use of the leverage. Just because the leverage is high, it doesn't mean one is going to max it out but with a 1:6 leverage, it is impossible to use 3% of the available leverage to make even a .01 trade, therefore, one has to use more of it. Wait, maybe just one .01 trade is all you can have open if .30 lots is the max trades you can have in a 6k 1:6 account. But I think you can really have 25 X .01 max trades opened because you have only the use of $250 in a brand new $275 account that hasn't had any DD yet.

OK, dude, you should really spend more time with that beautiful wife of yours today while I hit a site with the initials PH for the occasion.
  • #980
  • Feb 14, 2021 10:49am Feb 14, 2021 10:49am
Quoting OutThere
{quote} OK, you win. however, I am making my 10%/mo with a 1:500 leverage quite comfortably without worrying about the risk of ruin. I think my average leverage used is about 1:15 or so. That is about a 3% use of the leverage. Just because the leverage is high, it doesn't mean one is going to max it out but with a 1:6 leverage, it is impossible to use 3% of the available leverage to make even a .01 trade, therefore, one has to use more of it. Wait, maybe just one .01 trade is all you can have open if .30 lots is the max trades you can have in a...
Yes, you got it now. Just like you're not even coming close to your 500:1, I only use about half of my 6:1. You need capital, not leverage. However, I am glad you finally get it.
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