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  • #321
  • Apr 9, 2021 10:54pm Apr 9, 2021 10:54pm
Quoting Masterrmind
{quote} Leeloo ... OMG. 300k challenge 30 contracts 20k profit target 7.5k trailing DD $675 per MONTH !!!!!!! I checked it out .... Now bin it ! Masterrmind .......
Problem is they have trailing drawdown on unrealized profits so if account goes from 300K to 307.5k and goes bac to 300K without closing position you will loose account. Also you can't withdraw till 9 months. Its not good.
  • #322
  • Apr 9, 2021 11:14pm Apr 9, 2021 11:14pm
Quoting sampat
{quote} Problem is they have trailing drawdown on unrealized profits so if account goes from 300K to 307.5k and goes bac to 300K without closing position you will loose account. Also you can't withdraw till 9 months. Its not good.
Agreed.

Traders need to be very aware of what a trailing drawdown entails.

Its of no benefit to the trader whatsoever, simply very very tight control by the firm.

Yes and the withdraw time frame ... crazy !

Masterrmind ........
Master your Mind then Master your Trades
  • #323
  • Apr 10, 2021 12:30am Apr 10, 2021 12:30am
Quoting Masterrmind
{quote} Normal mode for 200k challenge. It's the only option. Masterrmind ..........
Thanks...wasjust curious...

Quoting Masterrmind
{quote} Humor is the best medicine. Now back to my challenge ....
No..sex is the best medicine..
  • #324
  • Apr 10, 2021 12:34am Apr 10, 2021 12:34am
Quoting sampat
{quote} Problem is they have trailing drawdown on unrealized profits so if account goes from 300K to 307.5k and goes bac to 300K without closing position you will loose account. Also you can't withdraw till 9 months. Its not good.
I agree with your judgement on the trailing drawdown.

However, from what I see, there is no evaluation? That's probably why they only allow withdrawal after 9 months. Imagine if everyone paid the money and gambled away.

But having said that, I'm not for or against this firm..
  • #325
  • Apr 10, 2021 3:07am Apr 10, 2021 3:07am
Quoting kCBHk
{quote} I agree with your judgement on the trailing drawdown. However, from what I see, there is no evaluation? That's probably why they only allow withdrawal after 9 months. Imagine if everyone paid the money and gambled away. But having said that, I'm not for or against this firm..
Wrong. It is the same as all other futures prop firm -> you are always put on evaluation first. I know this cos I've been in those circles (inside other forums) where people love to try and review all these. Look at the FAQ https://support.leelootrading.com/kb/root.aspx it does say there evaluation. After you hit targets you are supposed to manually email them after market close too

--------------
Quote from their page https://support.leelootrading.com/kb...-overview.aspx:

  1. Stop trading, log into the Support Portal, and send a ticket within 72 hours of passing your evaluation. In the message body type items 1-5 in list format, and attach #6 and #7. (Click Example)

--------------
ps:

If you know of any futures prop firm which does not put people on evaluation but live funded account on day 1, please let us know. We have not found any until now

  • #326
  • Apr 10, 2021 3:13am Apr 10, 2021 3:13am
Quoting Masterrmind
{quote} Agreed. Traders need to be very aware of what a trailing drawdown entails. Its of no benefit to the trader whatsoever, simply very very tight control by the firm. Yes and the withdraw time frame ... crazy ! Masterrmind ........
You are right. I always found trailing SL to be a nuisance and never understood the value of it. What it does is restrict your profit potential. I knew people who got disqualified because their trailing SL hit although they were still in good profit overall? These firms will claim your trading style is 'no good' because you left 'too much profit' on the table to justify axing/disqualifying you... lol.

So in the end, people who pass are actually what I call 'tick traders' example they trade ZB for just 1-2 ticks profit kind or NQ for 2-4 ticks profit and 100-200 such trades on NQ a day. But they falter and do less trades on funded acct, and end up getting axed by some of these firms who also implement a 'consistency rule' like OneUp.
  • #327
  • Edited 5:03am Apr 10, 2021 4:44am | Edited 5:03am
Quoting MaryAnne
{quote} -------------- ps: If you know of any futures prop firm which does not put people on evaluation but live funded account on day 1, please let us know. We have not found any until now
Audacity Capital used to be a futures prop firm from what I understood (listening in on an interview with Karim the Founder and CEO). Karim says that they take a different approach to the other prop firms exploding on the scene because of their traditional background as a futures prop firm. They (Karim) don't believe in challenges or demo accounts. Instead, they have some kind of interview process (sounds challenging?). If the candidate passes they get put straight on a live trading account starting at 15k

Quote
AudaCity Capital has a world-renowned reputation for funding and backing profitable traders. If you have the talent and know how, we will provide you with the necessary funding, shaping your future. If you are a successful trader, ambitious with proven trading strategy who is looking to move to the next level, then our Funded Trader Program is exactly what you’re looking for!
https://www.audacitycapital.co.uk/fu...rader-program/

Not sure what they mean by "proven trading strategy" I guess if one has some verified trading statement or history working at another firm?

Also, here's the interview I was referring to:
Inserted Video
  • #328
  • Apr 10, 2021 5:13am Apr 10, 2021 5:13am
Quoting livindaylite
{quote} Audacity Capital used to be a futures prop firm from what I understood (listening in on an interview with Karim the Founder and CEO). Karim says that they take a different approach to the other prop firms exploding on the scene because of their traditional background as a futures prop firm. They (Karim) don't believe in challenges or demo accounts. Instead, they have some kind of interview process (sounds challenging?). If the candidate passes they get put straight on a live trading account starting at 15k {quote} https://www.audacitycapital.co.uk/fu...rader-program/...

The "interview" is just a fancy way of saying "telling you about our program and asking you questions about how long you've been trading" (not necessarily even profitably).

I got the mail then a call for the "interview". Then got sent the contract agreement. Unfortunately, no prop firm that offers 1:3/1:5 leverage is worth it in my opinion.

A $15k account with 1:5 leverage has less buying power than a $500 account with 1:200. So why the hell would anyone pay for the former, split their profits and have to wait for months end before getting paid?

They'll get phased out in this new era if they don't change some things.
  • #329
  • Apr 10, 2021 5:34am Apr 10, 2021 5:34am
Quoting Koop
{quote} The "interview" is just a fancy way of saying "telling you about our program and asking you questions about how long you've been trading" (not necessarily even profitably). I got the mail then a call for the "interview". Then got sent the contract agreement. Unfortunately, no prop firm that offers 1:3/1:5 leverage is worth it in my opinion. A $15k account with 1:5 leverage has less buying power than a $500 account with 1:200. So why the hell would anyone pay for the former, split their profits and have to wait for months end before getting...

yep similar to you once I got the contract agreement lost interest ... also having to close positions pre data is a bit of a pain (for me anyways)
  • #330
  • Apr 10, 2021 5:41am Apr 10, 2021 5:41am
Quoting MaryAnne
{quote} You are right. I always found trailing SL to be a nuisance and never understood the value of it. What it does is restrict your profit potential. I knew people who got disqualified because their trailing SL hit although they were still in good profit overall? These firms will claim your trading style is 'no good' because you left 'too much profit' on the table to justify axing/disqualifying you... lol. So in the end, people who pass are actually what I call 'tick traders' example they trade ZB for just 1-2 ticks profit kind or NQ for 2-4...
Precisely.

Traders need to avoid these firms.

Masterrmind ........
Master your Mind then Master your Trades
  • #331
  • Apr 10, 2021 6:15am Apr 10, 2021 6:15am
Quoting Masterrmind
{quote} Precisely. Traders need to avoid these firms. Masterrmind ........
your drawdown is huge. Take a break from weekend trading.
  • #332
  • Apr 10, 2021 8:18am Apr 10, 2021 8:18am
Oh I see

The TE was synced 7 hours ago - right now the trade is actually in credit. I got 60150 on Bitcoin

Actually I have never traded crypto before. Wow this morning around the time one would be up for Frankfurt/London the price went up like a rocket - Would have been a nice earner!
  • #333
  • Apr 10, 2021 11:20am Apr 10, 2021 11:20am
City traders imperium are worth a look.
- them with FTMO and Fidelcrest are the better ones in my mind..

The the numbers for Audacity dont work out well.
Fee's + Low leverage conditions = not worth it, imo..
  • #334
  • Apr 10, 2021 1:49pm Apr 10, 2021 1:49pm
Quoting blablabla
City traders imperium are worth a look. - them with FTMO and Fidelcrest are the better ones in my mind.. The the numbers for Audacity dont work out well. Fee's + Low leverage conditions = not worth it, imo..


Sorry to say, but Fidelcrest doesnt look good at all because they arent putting all their rules upfront...
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #335
  • Apr 10, 2021 2:06pm Apr 10, 2021 2:06pm
Quoting mtako
{quote} Sorry to say, but Fidelcrest doesnt look good at all because they arent putting all their rules upfront...
I even can't understand some rules on some prop firms ...
  • #336
  • Apr 10, 2021 2:26pm Apr 10, 2021 2:26pm
Hey guys, what are your thoughts on Myfxseed.com ?

Looks like the same as the other new "prop firms" appearing every month.

Only difference with FTMO is they also offer "Accounts Management program", but those "master traders" they have, are not that really reliable imho. +6 months and 1 year experience for some of them, really? and most of them trading based on EMAs, trendline, nah...forget it man.

No way...
  • #337
  • Apr 10, 2021 2:53pm Apr 10, 2021 2:53pm
Quoting valenpty
Hey guys, what are your thoughts on Myfxseed.com ? Looks like the same as the other new "prop firms" appearing every month. Only difference with FTMO is they also offer "Accounts Management program", but those "master traders" they have, are not that really reliable imho. +6 months and 1 year experience for some of them, really? and most of them trading based on EMAs, trendline, nah...forget it man. No way...
on telegram they are active, i;ve researched abit their account managers, not that impressed also. if they do work out i'll buy as many accounts as i can for all my familly and maybe add some friends

taking my own challenge with them as well right now, no problems thus far. if they do prove themselfs as legit there is much potential with them. you can be an account manager and also trade a live account with 1:20 leverage and your own account of 1:100 leverage

spare me a few months to pass the verification stages for propfirm and myfxseed and see what happenes next (i hope i'll pass anyway, worst case a free retry on fxseed, the propfirm i passed the challenge).

propfirm support is yucks
offering my system to copy trade. check my link
  • #338
  • Apr 10, 2021 2:56pm Apr 10, 2021 2:56pm
Quoting valenpty
Hey guys, what are your thoughts on Myfxseed.com ? Looks like the same as the other new "prop firms" appearing every month. Only difference with FTMO is they also offer "Accounts Management program", but those "master traders" they have, are not that really reliable imho. +6 months and 1 year experience for some of them, really? and most of them trading based on EMAs, trendline, nah...forget it man. No way...

for after the challenge, " There is an account review if you drawdown 5% in any given day. "

reasonable !

subjective consistency rule

So basically, if you have different strategies that necessitate different money management, they can take you out subjectively..... even if you never even got close to their dd.

Ftmo has managed to take all subjective rule out. If they can do it, so can the others. I wouldnt go with ANY firm that has ANY subjective rules in place.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #339
  • Apr 10, 2021 2:57pm Apr 10, 2021 2:57pm
I'm seriously considering joining Mastermind. I was toying with TPT or Myff but the customer service is really poor on both of them. Probably Myff is a better bet but they don't yet offer a $200k option and to be honest I'm frightened by their 5% daily DD on equity and balance having failed on that very issue before.

My view is that if one goes for a $200k (I believe Fidelcrest offers up to $400k but I don't trust them) one can still trade 5 lots per trade (max) and set a reasonable SL and one is only risking 2% to 3% of the account. The secret of course is to only open and close one trade at a time, either at TP or SL.
  • #340
  • Apr 10, 2021 3:04pm Apr 10, 2021 3:04pm
Quoting Mtinifx
I'm seriously considering joining Mastermind. I was toying with TPT or Myff but the customer service is really poor on both of them. Probably Myff is a better bet but they don't yet offer a $200k option and to be honest I'm frightened by their 5% daily DD on equity and balance having failed on that very issue before. My view is that if one goes for a $200k (I believe Fidelcrest offers up to $400k but I don't trust them) one can still trade 5 lots per trade (max) and set a reasonable SL and one is only risking 2% to 3% of the account....
myff has agreesive 100k witch is essentially the same as 200k normal i belive. go check it
offering my system to copy trade. check my link
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