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  • #21
  • Mar 19, 2021 2:51am Mar 19, 2021 2:51am
Quoting ccrkk10
{quote} I fully agree with you here hahaha. I don't think it's necessarily wrong that a prop firms wins when their users lose, it's a business after all. Prop firms are without a doubt misleading and grab the attention of the newer trader who hasn't fully developed as a trader and understand the market and its swings. They create a sense of false hope to allude to the alchemy you were talking about. However, these firms can be very beneficial to an experienced trader who is fully honest with himself/herself about their own skills. If a firm is offering...
Yes agreed.

It's always the allure to what might be ... that pot of gold at the end of the .

Masterrmind ......
Master your Mind then Master your Trades
  • #22
  • Mar 19, 2021 2:59am Mar 19, 2021 2:59am
Quoting OutThere
{quote} Okay, you have an angle on this and going for it with a plan. Kudos to you. I hope you succeed. It doesn't change the fact that if you succeed, they succeed. If you fail, they succeed. Back 100's of years ago, there was this trend about turning the common metal into gold. It's called ALCHEMY of course. There was an old book written about it. I had the privilege of reading it (or quick reading it) and I found no real recipe to do the deed. There have been several other books written on it as well but I bet you that they follow the original...
An interesting take and certainly the 'catch, suck blood and release' approach is best played in a never ending cycle, repeat, repeat and continue.

Masterrmind ......
Master your Mind then Master your Trades
  • #23
  • Mar 19, 2021 3:02am Mar 19, 2021 3:02am
Any trader looking to have a crack at the $200K FTMO challenge?

Masterrmind ......
Master your Mind then Master your Trades
  • #24
  • Mar 19, 2021 6:52pm Mar 19, 2021 6:52pm
A new Prop Firm on the block.

My Forex Funds ... or MFF for short.

As a quick example as at date of this post,

100k challenge on FTMO has a refundable fee of US$640.

100k challenge on MFF has a one time fee of US$949.

FTMO also has a 200k challenge.

MFF does not.

Not such an issue really considering additional 100k challenges can be added.

Max funding FTMO without scaling is currently $400K.

Max funding MFF is $300K.

The models and conditions differ between them so due diligence needed.

Masterrmind ......
Master your Mind then Master your Trades
  • #25
  • Mar 19, 2021 7:13pm Mar 19, 2021 7:13pm
ccrkk10 check your messages. Im offering you a spot in my firm, you have the proper mindset. Training provided.
  • #26
  • Mar 19, 2021 8:26pm Mar 19, 2021 8:26pm
FTMO 200k challenge is ~$1280.

Now with 400k of funding, things start to warm up.

Although 10% target during challenge is required and 5% target during verification once the funded account is achieved no profit target minimum is required.

Let's do some simple math on a 400k account per month and applying a 70/30 profit split as per Prop Firm.

10% x 400k => gives trader $28000/month

5% x 400k => gives trader $14000/month

2.5% x 400k => gives trader $7000/month

1.25% x 400k=> gives trader $3500/month

Of course, not all months will be profitable but it's easy to see that the average person might still be able to live on just a 1.25% gain on a 400k funded account.

How hard is it to make 1.25% ??

That's a question for the trader to answer.

What did it cost to play?

Depends on number of paid challenges to reach funded 400k account with 2 by 200k challenges the bare minimum.

A minimum of 2 * 200k challenges currently would set you back $1280 by 2 which is $2560.

Now the $2560 price to play is refunded to the trader after a profitable month trading the funded account.

If a trader generates just 1.25% gain on the funded 400k account this totals $5000 with 70% going to the trader which as mentioned above is $3500.

The $3500 will easily cover the traders outlay and on top of that the trader would receive another $2560 of paid fees reimbursed.

The temptation is present.

A trader could start with just a 100k challenge and build on this via successful trading using derived gains to offset new paid challenges.

I heard one trader took 13 challenges to get a funded account so make sure you know exactly what you need to do and what your risks and targets are or you might find it a battle field.

Good trading,

Masterrmind .......
Master your Mind then Master your Trades
  • #27
  • Mar 19, 2021 10:06pm Mar 19, 2021 10:06pm
With all these posts about FTMO challenges I suppose you all know where I'm heading.

I'll add a 200k challenge here via TE as an example although doing 2 of them simultaneously is very tempting as a successful completion reduces the time greatly in reaching max funding of 400k (not including scaling).

Other Prop Firms may also be traded.

My preference is to trade 500k to 1M via Prop Firm so if anyone out there knows of a faster way to get hold of such a funded account do post here.

If starting off with $1,000,000 funded account was possible that would be ideal even if price of admission was say 5k.

Not sure when the first 200k challenge will start as we head closer into Easter time but my TE will be attached to this thread when it happens so for those interested keep a look out.

Good trading,

Masterrmind .........
Master your Mind then Master your Trades
  • #28
  • Mar 19, 2021 11:46pm Mar 19, 2021 11:46pm
psychologically the 50,000 challenge target is easier to achieve than the 100,000 and 200,000 targets. But it cost more to reach max 400,000.

if 200,000 fee is cheaper than 2 x 100,000 fee then it is worth a try.
  • #29
  • Mar 20, 2021 1:15am Mar 20, 2021 1:15am
Quoting Masterrmind
100k challenge on MFF has a one time fee of US$949. Masterrmind ......
$949 is refundable (+ 12% = $1,062.88)

RULE # 12 – REFUND OF YOUR REGISTRATION FEES
112% Refund of Account Registration – We will refund your registration fees + 12% upon completion of your first payout. How good would that feel?

If you pass phase I and II -
My Forex Funds will give traders a bonus for passing each phase. See below for Evaluation Bonus schedule.

Upon completion of Phase II, trader will be paid 2% of all profits made in Phase I
($100K challenge is $8K, 2% will be $160)

Upon completion of 30 days in Phase III, trader will be paid 4% of all profits made in Phase II
($100K challenge is $5K, 4% will be $200)

Fee $949 - $160 - $200 = $589 compare to FTMO $640.

MFF -
If an account incurs a violation, that account will be suspended and will not qualify to take part in further evaluation.
If a trader would like to continue with the program, s/he will have an opportunity to continue at a discounted price. This re-registration fees is referred to as “Reset” fees as you will obtain a brand new account - For $100K account, it is $449.10.

Whereas, FTMO has no reset, it requires you to buy a new challenge.
  • #30
  • Mar 20, 2021 1:23am Mar 20, 2021 1:23am
Quoting mixedbags
psychologically the 50,000 challenge target is easier to achieve than the 100,000 and 200,000 targets. But it cost more to reach max 400,000. if 200,000 fee is cheaper than 2 x 100,000 fee then it is worth a try.
Yes agreed.

Many combinations of account size are possible.

They only just added the 200k account but at no discount in fact it is exactly twice the price of a 100k challenge.

Would have liked to see a sizeable discount myself but that's their call.

Also would like to see either a 500k or 1M challenge but we don't always get everything we want.

Masterrmind ......
Master your Mind then Master your Trades
  • #31
  • Mar 20, 2021 1:51am Mar 20, 2021 1:51am
Hi Masterrmind,
I think someone mentions enfoid previously, they offer 700K as an account size, but as to the details i havent looked into it as yet.

another option is ThePropTrading who also offer a 200K account option.

Regards
Geoff
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  • #32
  • Mar 20, 2021 2:38am Mar 20, 2021 2:38am
Quoting mixedbags
{quote} $949 is refundable (+ 12% = $1,062.88) RULE # 12 – REFUND OF YOUR REGISTRATION FEES 112% Refund of Account Registration – We will refund your registration fees + 12% upon completion of your first payout. How good would that feel? If you pass phase I and II - My Forex Funds will give traders a bonus for passing each phase. See below for Evaluation Bonus schedule. Upon completion of Phase II, trader will be paid 2% of all profits made in Phase I ($100K challenge is $8K, 2% will be $160) Upon completion of 30 days in Phase III, trader will...
Read through all their material on their website but am not impressed.

Was not impressed with the recent interview either as it came across as rather unprofessional in my opinion and I've around for a long time.

In any case it might well suit other traders but certainly not me at this time.

Masterrmind .........
Master your Mind then Master your Trades
  • #33
  • Mar 20, 2021 2:42am Mar 20, 2021 2:42am
Quoting geoffrod
Hi Masterrmind, I think someone mentions enfoid previously, they offer 700K as an account size, but as to the details i havent looked into it as yet. another option is ThePropTrading who also offer a 200K account option. Regards Geoff {image}
Great information there geoffrod.

Worth checking out further.

I have heard of them but not much more than that.

Masterrmind ......
Master your Mind then Master your Trades
  • #34
  • Mar 20, 2021 4:16am Mar 20, 2021 4:16am
FTMO VS The Prop Trading Direct Comparison | Which Should You Choose?

Inserted Video
  • #35
  • Mar 20, 2021 4:25am Mar 20, 2021 4:25am
Quoting geoffrod
Hi Masterrmind, I think someone mentions enfoid previously, they offer 700K as an account size, but as to the details i havent looked into it as yet. another option is ThePropTrading who also offer a 200K account option. Regards Geoff {image}
Enfoid also pointed out in Post #3 by Horne looks ok at first glance so I'll continue to dig deeper.

Surprisingly, the critical risk part is very much the same as FTMO .... hmmm.

Masterrmind ........
Master your Mind then Master your Trades
  • #36
  • Mar 20, 2021 4:32am Mar 20, 2021 4:32am
Quoting Rmg
{quote} I am the one who went on a row hahaha a.. Anyway I am kind of aggressive trader equity swings normally 5% +/- daily basis. Cost of setting up a business no regrets. Now I am focusing on the art of "not doing anything" before my next adventure. Probably update here once enrolled. I thought you went private to do the challenges!! How did it go?
Welcome RMG.

Sometimes doing nothing is necessary.

It's not easy to hit a target double that of the allowed risk within a rather tight window.

Looking forward to any updates you make in your trading and best to you.

Good trading,

Masterrmind .......
Master your Mind then Master your Trades
  • #37
  • Mar 20, 2021 8:35am Mar 20, 2021 8:35am
One of FF member told me to share my experience here. That is way I share it here-

My experience with funding talent is very bad. they have send me Invoice to pay them with PayPal. I have did the same. I have paid with my friends PayPal. They first told me they not receive my payment. After that they asked me which broker I would like to trade. I email them to confirmed my payment. They have email me yes they receive my payment. They provide me demo account for the challenge. I started trading. I can't see my account matrix I email them they ask for many things no coordination's at all who ever is receive the email they don't bother to read previous email they ask same questions.
Now they deactivate my account saying that I have to give them order number. I have already provide my personal area pass word They can see my order number their but they ask many things.

I understand one thing they are trying to hold my 155$ with out giving any service.
Be very very careful with funding talent or forextips101. both are same company.
I ask for company registrations document they couldn't provide it too.


They have already confirm that they have receive my payment, Now they are saying different things. I have give review in Trustpilot, they have force me to remove my review with several email they are threatening me, that they will inactive my trading account. It seems like whenever I am in profit they arise a issue. whenever I am in little dd they don't' answer to my email.


I just share my experience don't give any negative comment, I feel bad that I choose wrong prop firm.
MA provides the market's current direction and strength.
  • #38
  • Mar 20, 2021 8:39am Mar 20, 2021 8:39am
Quoting hasib
One of FF member told me to share my experience here. That is way I share it here- My experience with funding talent is very bad. they have send me Invoice to pay them with PayPal. I have did the same. I have paid with my friends PayPal. They first told me they not receive my payment. After that they asked me which broker I would like to trade. I email them to confirmed my payment. They have email me yes they receive my payment. They provide me demo account for the challenge. I started trading. I can't see my account matrix I email them they ask...
sounds terrible. could you show any of the threatening mails they sent you if you don't mind?

I wonder why they would act this way, no one else has complained about something this serious to the best of my knowledge..
  • #39
  • Mar 20, 2021 10:16am Mar 20, 2021 10:16am
Quoting Masterrmind
A new Prop Firm on the block. My Forex Funds ... or MFF for short. As a quick example as at date of this post, 100k challenge on FTMO has a refundable fee of US$640. 100k challenge on MFF has a one time fee of US$949. FTMO also has a 200k challenge. MFF does not. Not such an issue really considering additional 100k challenges can be added. Max funding FTMO without scaling is currently $400K. Max funding MFF is $300K. The models and conditions differ between them so due diligence needed. Masterrmind ......
That's their old program. 100K challenge is $499.
  • #40
  • Mar 20, 2021 10:18am Mar 20, 2021 10:18am
Quoting geoffrod
Hi Masterrmind, I think someone mentions enfoid previously, they offer 700K as an account size, but as to the details i havent looked into it as yet. another option is ThePropTrading who also offer a 200K account option. Regards Geoff {image}
Only a 50% split, and 1% deposit on account you want to obtain is the cost. You can scale to 700K, but 300K is largest one time and cost is $3,000.
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