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  • #981
  • May 15, 2021 5:52am May 15, 2021 5:52am
Here you are guys. IF THIS GUY CAN DO IT, SO CAN WE!

20 GRAND!!!
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  • #982
  • Edited 6:52am May 15, 2021 6:40am | Edited 6:52am
Guys I know exactly how Mr Medrano (above) did it. He LOADED UP in a buying/selling frenzy situation.

In a way, trading forex is playing Blackjack. You gotta know when to take more cards or when to hold. But in Forex we actually have an advantage - we can often see what the dealer is holding! It's not that difficult to identify a buying/selling frenzy (if you can't identify a buying/selling frenzy then really, you shouldn't be trading forex).

The problem is with most of us, we can identify a good move but due to fear plus worry about mm "watch your money management" - it's been drummed into us right? Plus if we trade 10 lots instead of our usual half a lot or one lot, our knees start knocking and we start shaking all over - know the feeling?? Anyway, the price moves 100 pips in 20 mins (as we knew it would) and we've made 500 dollars (or worse, we lost 500 dollars or more because we kept thinking the price is going to reverse - a very common mistake with RT's) and then you think: "you idiot!, I could have made 10000 dollars if I'd traded 10 lots"! Then it gets worse because we feel stung so we start trading when there is NO buying/selling frenzy which is when the boys are stop hunting and we blow our accounts. Familiar?

The moral of the story? We held rather then took more cards. Then we took more cards when we should have held.

You have to ask yourself - do I really understand the game??

The dealer and our FEAR wins as always! 99% of us are NEVER going to be truly successful at this game unless we can overcome the FEAR FACTOR

Bottom line? Don't go to a Casino and try to win at Blackjack. You're going to lose.
  • #983
  • May 15, 2021 7:17am May 15, 2021 7:17am
Quoting Koop
I like the look of the Enfoid metrics page. Seems it's even more detailed and efficient than FTMO's. Still haven't seen anyone on FF or YouTube show any profit split payments .. Read from someone that Traders share proof on Enfoid's swingfish Discord channel... But it's their channel, I'd prefer to see something more public.
You are right. There is no "real" reviews. I have the same problem with Fundingtalents. I will try there service soon.
Free copy trading and FX Prop Firm tests on forex1million
  • #984
  • May 15, 2021 7:32am May 15, 2021 7:32am
Quoting Mtinifx
Here you are guys. IF THIS GUY CAN DO IT, SO CAN WE! 20 GRAND!!! {image}
Funding Talent's first payout is on the 2nd week of trading and they pay 10% of the profit to you. Sure you will get more to another account which will make profit later.
So this guy started with the biggest $300k account and made more than $200k profit in 2 weeks with less than 5% daily and 10% all-time drawdown. I want to know that guy and I would let him trade my money with 50% drawdown and make 300% profit every 2 weeks.
Free copy trading and FX Prop Firm tests on forex1million
  • #985
  • May 15, 2021 7:45am May 15, 2021 7:45am
Quoting OutThere
{quote} I hope you are good at trading 1:5 leverage accounts or whatever low leverage/low dd account they are offering.

This is a quote of someone who has no idea how leverage works. 1:5 is plenty. For example, I have 3 funded accounts w/ the5ers, all 40k each. in each account I can trade 2 full lots. If I pull off a handle, that can mean $2000 in a single trade, per account. I don't even go that high. With these companies its about staying alive long enough to make the money you are looking for. Its about growing an account. The first level doesn't even matter. A total of $120,000 at the5ers isn't going to change my life. However, if I take a couple of years to make that 3 accounts @ 1.28 million USD.....that's a different story.

And yes, the5ers pays. They do it through PayPal which is a pain in the ass, but it is what it is. (Larger payments can be wired though.)

CTI seems like a good deal so far, but I just started with them. They used to be a white label for the5ers, which is why the conditions are so similar.

I can all but guarantee that most of these companies are simply paying profitable traders with deposits of those who are not. In fact Jessica from Funding Talent recently came out and said that's how all of this works. (Unlike many others, she is in Canada, which has tighter laws than most countries involved.) I really don't care where the money comes from, as long as it does. Its the same as trading at Oanada. They pretend like you are trading the Interbank market, and give you the losses of other traders. In a sense, these places are acting like brokers with better profits for them.

My experience at the5ers has been really good, and they are by far the best. FTMO is a joke. Any place asking for two trials and extreme gains (Yes Matilda, gaining ten percent a month isn't something you will do consistently.) are simple churning and burning their clients. It amazes me how many people think that FTMO has real money involved. Think about the thousands of traders that try out each year, many multiple times. How hard would it be to pay the top 2%? Also, think about all of the lucky traders that get accounts.....how many billions do you think FTMO is sitting on? lol

I have decided that I am going to use a trade copier and get as many reasonable 'funded accounts' as possible. Its easier to make 1% on 1 million than it is to sweat out 5% on 100k. That's actually how you do it. Most of these challenges will refund your entrance fee if you make it....which is something that almost nobody is paying attention to.

Can you make it? Most can't. I can. That's why I did it. I also took my time.....which is why I cannot be bothered w/ these timed ones either. FTMO gives you 30 days for ten percent. Then another 60 for 5 percent. Not impossible, but they know most will blow it. That's why they put the time limit on you - to push you into over trading. CTI and the5ers both give you a year to make 6%. There are a few others out there that I am looking at currently, and will be adding soon.

Chris
  • #986
  • May 15, 2021 9:03am May 15, 2021 9:03am
Quoting forex1mill
{quote} Funding Talent's first payout is on the 2nd week of trading and they pay 10% of the profit to you. Sure you will get more to another account which will make profit later. So this guy started with the biggest $300k account and made more than $200k profit in 2 weeks with less than 5% daily and 10% all-time drawdown. I want to know that guy and I would let him trade my money with 50% drawdown and make 300% profit every 2 weeks.
Wait, are you sure that's profit from the Rapid 10% bonus account? I thought it was from the challenge type account with 80% profit split.

Edit -..

Damn man you gave me a scare. It's not 10% of $200,000 profit. It's a challenge account. He made around 25-30k i believe and got 80% of his total profits.
  • #987
  • May 15, 2021 9:23am May 15, 2021 9:23am
Quoting Koop
{quote} Wait, are you sure that's profit from the Rapid 10% bonus account? I thought it was from the challenge type account with 80% profit split. Edit -.. Damn man you gave me a scare. It's not 10% of $200,000 profit. It's a challenge account. He made around 25-30k i believe and got 80% of his total profits.
It was a joke. You can ask them not to pay you only when you earned the amount you want to withdraw.
Sure, maybe it happened, who knows... These means nothing to me.
Free copy trading and FX Prop Firm tests on forex1million
  • #988
  • Edited 10:47am May 15, 2021 9:23am | Edited 10:47am
Quoting clockwork71
{quote} This is a quote of someone who has no idea how leverage works. 1:5 is plenty. For example, I have 3 funded accounts w/ the5ers, all 40k each. in each account I can trade 2 full lots. If I pull off a handle, that can mean $2000 in a single trade, per account. I don't even go that high. With these companies its about staying alive long enough to make the money you are looking for. Its about growing an account. The first level doesn't even matter. A total of $120,000 at the5ers isn't going to change my life. However, if I take a couple of years...

We both agree on one thing, how they generate funds to pay profitable Traders is almost irrelevant to me so long as they pay. That applies to both 5ers and FTMO.

But I think 5ers is the joke. Traders are being tricked into Funding themselves. This is strategic marketing where they throw around big account numbers/sizes but limit how much buying power you actually have, thereby invalidating the whole purpose of getting funded.

If you're comfortable trading 2 lots max per trade on a $40,000 account, then why are you even spending your money on 5ers? You can comfortably do that on a personal $2000 account and have more drawdown room than what is allowed on 5ers.

Also, Matilda doesn't have to make 10% monthly, just once. Then she can choose to earn as little as Fransisca would be earning on 5ers with that 1:5 Lev.

All prop firms churn and burn Traders... FTMO has two challenge stages, 5ers has a retarded 4% max DD limit.
Do you know how many Traders breach that limit on a weekly basis? Have you come across any trader that has been fortunate enough to smell that $1.28mill?

Lol none of these firms are saints
they all want our money,
Our job is to find the ones that our years of experience and individual trading skills are better tailored to take advantage of.
This preference will differ based on the kind of Traders we individually are.
  • #989
  • May 15, 2021 9:50am May 15, 2021 9:50am
Quoting Koop
{quote} We both agree on one thing, how they generate funds to pay profitable Traders is almost irrelevant to me so long as they pay. That applies to both 5ers and FTMO. But I think 5ers is the joke. Traders are being tricked into Funding themselves. This is strategic marketing where they throw around big account numbers/sizes but limit how much buying power you actually have, thereby invalidating the whole purpose of getting funded. If you're comfortable trading 2 lots max per trade on a $40,000 account, then why are you even spending your money...
You are right in many points. I am sure most of the firms are not searching for traders.
5ers' DD limit is not the best, but their offer looks better than many other firms. Maybe I will try them too...
Free copy trading and FX Prop Firm tests on forex1million
  • #990
  • May 15, 2021 10:39am May 15, 2021 10:39am
I will repeat for all, the 5%ers, CTI, etc, all none challenge/verification "scaling" models.......


Quoting pipmaster77
{quote} When the fee is greater than the DD, put the "fee" in a personal account, you will exceed the "scaling" plan by stage 3. Despite the time pressure of challenge/ verification model, it's a way better deal. Example 5%ers....$875 for $800 in DD, FTMO....$640 for 10K in DD. The "scaling" models with the 4% DD offer absolutely no value to the trader. They are simply allowing you to fund your own account and then taking a piece of your profit for that "privilege".
  • #991
  • May 15, 2021 10:46am May 15, 2021 10:46am
Here's the math, in case anyone wishes to challenge it....

Quoting endgame99
@pipmaster77 I was little suspicious about your comment about prop firms with 4%DD and that it is more profitable to use fee and trade it in personal live account. So I decided to do proper calculations to convince myself. Here are the numbers (I hope I haven't made any mistakes). I'm using CTI $70K account as an example. Result = you were right, 2x growth plan is amazing marketing tool. I hope this will help others to make it easier to visualize the comparison between choosing this particular prop model and using fee in your own personal live account....
  • #992
  • May 15, 2021 11:36am May 15, 2021 11:36am
Hello,

Some pros and cons discussed.

Inserted Video


Thanks
"The markets can remain irrational longer than you can remain solv
  • #993
  • May 15, 2021 11:43am May 15, 2021 11:43am
Quoting Trader-IT
Since it is one of the most followed threads lately, even and mostly by "technical" users, I point it out here. Heavy week for Software updates in general: Windows 10: yet another update released. On this, among other things, a new feature is now integrated into the taskbar. Lots of data feeds, weather and other stuff. All in vain for me, since I already have something similar, integrated as standard on my system. It's just another major occupation of computer resources and data bandwidth. Deactivated with many difficulties. MT4: yesterday, Friday...
hello, do you know how regularly Metatrader updates their software ?
  • #994
  • May 15, 2021 12:09pm May 15, 2021 12:09pm
Quoting shyean
Hello, Some pros and cons discussed. https://www.youtube.com/watch?v=VGuv8hBImOg Thanks
Exactly, this guy hit it on the nose.... I had done the numbers and the leverage they offer is a joke
Why would I need a service like this on my end when I can do it with my money

I am looking to sign up and I like FTMO, but their weekend "have to close" does not apply to my trading

Anyone know a similar service like FTMO that allows weekend positions?

Thanks
Those who don't believe in magic will never find it
  • #995
  • May 15, 2021 12:28pm May 15, 2021 12:28pm
People, if that guy and a few others can do 20 grand so can we. Why not?? Actually, even 10 grand would still be OK for me. I could certainly do with the bucks!!

I agree with Koop and Pipmaster77 that 5ers (and similar) are a waste of time. I think that Funding Talent are probably leading the pack right now because they have done away with the 10 day rule on Challenge accounts. Their other option (like MYff "Rapid account") is only good for pocket money because of the consistency rules. Obviously the challenge account is what that guy (above) is/was trading. He made 25 grand profit and got paid 80% of that. Also he got his fees refunded of course. It's a win win situation IF you can be successful. Even if he blows the account on Monday he's still sitting on a hell of a profit!!

I think it mainly revolves around one's trading strategy. If one is trading a strategy based on trading lots of trades and a 60/40 or 50/50 win rate it doesn't work because if you have 3 or 4 losers in a row and you're 3k or 4k down already, it's very difficult to recover. I can say that from experience! The only strategy that works IMHO is one that is able to isolate a very fast intraday move and then milking it. And of course stay out of the market the rest of the time. Easier said then done of course. It all comes down to self-discipline I suppose.

Is Mr Medrano a better trader then I am? Is he a better trader then any of us? I honestly doubt it! But MENTALLY he's quite clearly way in front.
  • #996
  • May 15, 2021 12:31pm May 15, 2021 12:31pm
Quoting PayTheBid
{quote} Exactly, this guy hit it on the nose.... I had done the numbers and the leverage they offer is a joke Why would I need a service like this on my end when I can do it with my money I am looking to sign up and I like FTMO, but their weekend "have to close" does not apply to my trading Anyone know a similar service like FTMO that allows weekend positions? Thanks

Myff or Funding Talent allows weekend positions
  • #997
  • May 15, 2021 12:53pm May 15, 2021 12:53pm
Quoting Saxio
{quote} hello, do you know how regularly Metatrader updates their software ?
Hi Saxio.
No. As far as I can remember, there have been long periods without updates and years where there have been more than one.
The previous build 1330 is from March 19, 2021
Build 1310 is from November 26, 2020
https://www.forexfactory.com/thread/...4#post13286634

If I remember correctly, there was at least one other build in between.
I no longer took into account and warned about FF, also because someone else did not like it.
I've seen things you people wouldn't believe
  • #998
  • May 15, 2021 1:41pm May 15, 2021 1:41pm
Quoting Mtinifx
People, if that guy and a few others can do 20 grand so can we. Why not?? Actually, even 10 grand would still be OK for me. I could certainly do with the bucks!! I agree with Koop and Pipmaster77 that 5ers (and similar) are a waste of time. I think that Funding Talent are probably leading the pack right now because they have done away with the 10 day rule on Challenge accounts. Their other option (like MYff "Rapid account") is only good for pocket money because of the consistency rules. Obviously the challenge account is what that guy (above)...
You can choose Non consistent on raphid accounts now with MFF ore NCA as they call it i have that on both off mine and yes MFF allows open possisions in weekends also now they are allowing hedging on challenge accounts(2-3 days ago),but not on Raphid for some reason....
Insanityoing same ting over expecting different results..Einstein
  • #999
  • May 15, 2021 2:39pm May 15, 2021 2:39pm
Quoting PayTheBid
{quote} Exactly, this guy hit it on the nose.... I had done the numbers and the leverage they offer is a joke Why would I need a service like this on my end when I can do it with my money I am looking to sign up and I like FTMO, but their weekend "have to close" does not apply to my trading Anyone know a similar service like FTMO that allows weekend positions? Thanks
MyForexFunds....same model, target is only 8%, DD is 12%, news and weekend holding allowed. Only drawback is they are fairly new, especially the challenge model.
  • #1,000
  • May 15, 2021 3:01pm May 15, 2021 3:01pm
everyone's on demo it seems, even if assured otherwise (source)

and "prop" firm....more like bucket firm; here's a real prop firm
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