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  • #1,401
  • Jun 4, 2021 5:18pm Jun 4, 2021 5:18pm
Quoting pipmaster77
{quote} Not sure how he is doing this based in US. I have used offshore brokers for many years, FXChoice being one of them. They stopped onboarding NEW US clients back in October. Being a previous customer, I still trade with them. Point I am getting at is.....unless there was an existing FXChoice account, this is 100% all demo. Which, no big deal, not sure how their model is going to be working, just throwing some facts out there.
Blake Olson?

JFC, bottom feeders getting into the game is a bad sign.
Trade with confidence, trade without fear.
  • #1,402
  • Jun 4, 2021 6:20pm Jun 4, 2021 6:20pm
My FTMO finishes next week (Tuesday). I decided to stop trading it since I am currently a bit in profit to be able to get another one for free.
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Trading is SIMPLE not EASY.
  • #1,403
  • Jun 4, 2021 6:50pm Jun 4, 2021 6:50pm
Quoting MoxFulder
Wow, this is a great thread, couple of hours to get through. My first post, and no I am not promoting this, just came across it a few days ago, it looks like Blake is getting his cut of the prop trading gold rush. thefundedtraderprogram {image}
this website is just ... different . they have a competition with 100k acc as a prize.. but it's not worth my time . unconfirmed, shady operation from self-proclaimed forex gurus ... no thanks
they probably have the same plan as funding talent : ponzi scheme
  • #1,404
  • Jun 4, 2021 7:26pm Jun 4, 2021 7:26pm
Stumbled across this one. it might be interesting for someone.

https://theproptrading.com.au/
  • #1,405
  • Jun 4, 2021 8:19pm Jun 4, 2021 8:19pm
Quoting mixedbags
{quote} Very unlike you that there is no update.
will update.
Intraday only.
  • #1,406
  • Jun 4, 2021 11:48pm Jun 4, 2021 11:48pm
Quoting Miksiu
{quote} this website is just ... different . they have a competition with 100k acc as a prize.. but it's not worth my time . unconfirmed, shady operation from self-proclaimed forex gurus ... no thanks they probably have the same plan as funding talent : ponzi scheme
Yes it's not the best look.

But those trading conditions are a big step in the right direction.

More time if needed in phase 1 with 35 calendar days

Minimum trading days just 8

6% daily loss

12% max loss

10% PT in phase 1
5% PT in phase 2

80% profit split in favor of the trader.

200:1 leverage.

Max account size of $600k before scaling, after which it's up to $1.5 million.

200k challenge fee of $799.

Hmmmm

But do they pay ? ... That is the big question.

Note: FTMO currently charges ~US$1314 for a 200k challenge !

Masterrmind ........
Master your Mind then Master your Trades
  • #1,407
  • Jun 5, 2021 6:51am Jun 5, 2021 6:51am
Quoting Masterrmind
{quote} Yes it's not the best look. But those trading conditions are a big step in the right direction. More time if needed in phase 1 with 35 calendar days Minimum trading days just 8 6% daily loss 12% max loss 10% PT in phase 1 5% PT in phase 2 80% profit split in favor of the trader. 200:1 leverage. Max account size of $600k before scaling, after which it's up to $1.5 million. 200k challenge fee of $799. Hmmmm But do they pay ? ... That is the big question. Note: FTMO currently charges ~US$1314 for a 200k challenge ! Masterrmind ........ ...
Only the one broker choice, namely KOT4X.

Never dealt with them.

Only regulated in SVG.

Crypto runs over the weekend and modest spread that I've seen so far, however, I'd need to run a spread profile and compare it to FTMO among a few others.

I'm far from committing to a challenge at this stage, simply posting current findings in the hope it is of some use to others.

Any trader taken on a challenge with them of at least 100k, preferably 200k, do report back.

Note: 3 x $200k challenges could be played at the one time with a $600k funded account up for grabs at an initial fee of $799*3 which is $2397 ... Hmmm

Masterrmind......
Master your Mind then Master your Trades
  • #1,408
  • Jun 5, 2021 9:43am Jun 5, 2021 9:43am
Quoting B.C
Stumbled across this one. it might be interesting for someone. https://theproptrading.com.au/
Looks very interesting, are you using it
Allergic to bullshitters, never argue with fools
  • #1,409
  • Jun 5, 2021 9:53am Jun 5, 2021 9:53am
Quoting Basill
{quote} Traders Prop looks exceptionally good. Wonder why there has been no discussion on them?

In a Prop Traders channel on Telegram the payouts are just beginning as of June 1 for this very new prop firm. They have had poor communication with enrollees (I read, not personal experience).

I'm one of those people that want to work with a company that has been around for *at least* 6 months, shoot, how about a couple of years+?!
  • #1,410
  • Jun 5, 2021 9:58am Jun 5, 2021 9:58am
Quoting garfield75
My FTMO finishes next week (Tuesday). I decided to stop trading it since I am currently a bit in profit to be able to get another one for free. {image} {image}

I finished my first FTMO paid challenge on 4/29. Passed everything but the TP. I was up 7.5%. Too bad I had a rough start, that didn't help.

The good news was that FTMO sent me two emails. The first was on the day the challenge ended. They noted that I finished in profit and would therefore get a free re-take. Next day, I received the email with the credentials to open and start the free re-take when I was ready. Didn't have to ask them. That was nice.

I opted to take another free trial (aggressive version), which I did June 1-4. I hit 10% TP in 4 days. Now, I need to analyze and *translate* that to the PAID challenge! Considering doing my next challenge (the free retake) in July. Have a couple of family events this month that will mess up some trading days.
  • #1,411
  • Jun 5, 2021 11:32am Jun 5, 2021 11:32am
Quoting Muhammedfx
{quote} Looks very interesting, are you using it
We have someone in here that used them. He said stay away.
  • #1,412
  • Jun 5, 2021 11:37am Jun 5, 2021 11:37am
Quoting ForexGalVA
{quote} I finished my first FTMO paid challenge on 4/29. Passed everything but the TP. I was up 7.5%. Too bad I had a rough start, that didn't help. The good news was that FTMO sent me two emails. The first was on the day the challenge ended. They noted that I finished in profit and would therefore get a free re-take. Next day, I received the email with the credentials to open and start the free re-take when I was ready. Didn't have to ask them. That was nice. I opted to take another free trial (aggressive version), which I did June 1-4. I hit 10%...
So smart to look at current month and plan accordingly. My first two FTMO challenges I did simultaneously and was on vacation for the last week of the challenge. Didn't pay attention one day, was up well over 5 figures, closed the winners, left the losers and forgot to close at 5pm. Instant daily DD violation. Would have passed the following day. Everything been great with them since. Rookie mistake.
I also did a 5%ers in a month where I was on vacation for 10 days, but midway through I realized the math of the fee being greater than the DD (I talk about this all the time to try to warn others of the same mistake) and just went kind of all-in and gambled it away, so I wouldn't have passed that one either way lol
  • #1,413
  • Edited 2:05pm Jun 5, 2021 1:47pm | Edited 2:05pm
Quoting pipmaster77
{quote} So smart to look at current month and plan accordingly. My first two FTMO challenges I did simultaneously and was on vacation for the last week of the challenge. Didn't pay attention one day, was up well over 5 figures, closed the winners, left the losers and forgot to close at 5pm. Instant daily DD violation. Would have passed the following day. Everything been great with them since. Rookie mistake. I also did a 5%ers in a month where I was on vacation for 10 days, but midway through I realized the math of the fee being greater than the...
So now you have only FTMO or you also on something else?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,414
  • Jun 5, 2021 2:15pm Jun 5, 2021 2:15pm
Quoting Simply-Me
{quote} So now you have only FTMO or you also on something else?
I'm about 1900 away from passing stage 1 of MFF 100K. I plan to make FTMO 400K and MFF 300K and dump half of profits every month into my personal account(s). Goal being personal account being large enough to meet my monthly monetary goals. At that point, I'll still trade the props (why not, it's just extra $$$ at that point), but if something were to happen to the props, I'm all set with the personal account(s)
  • #1,415
  • Jun 5, 2021 2:44pm Jun 5, 2021 2:44pm
Quoting pipmaster77
{quote} I'm about 1900 away from passing stage 1 of MFF 100K. I plan to make FTMO 400K and MFF 300K and dump half of profits every month into my personal account(s). Goal being personal account being large enough to meet my monthly monetary goals. At that point, I'll still trade the props (why not, it's just extra $$$ at that point), but if something were to happen to the props, I'm all set with the personal account(s)

Good thinking.I have similar plan.I just wondering which brokers you will trust in your position with your money to trade larger account?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,416
  • Jun 5, 2021 3:32pm Jun 5, 2021 3:32pm
Quoting Simply-Me
{quote} Good thinking.I have similar plan.I just wondering which brokers you will trust in your position with your money to trade larger account?
So, here is the tricky part. being in the US and simply refusing to use any of the 3 remaining "regulated" brokers I'm allowed to use, I opt for the unregulated, high leverage offshore brokers. Once I break it down, you'll hopefully understand it is the most risk-adverse situation you can put yourself in.

80% of my trading capital sits in FDIC insured bank accounts, 10% sits in FDIC insured Coinbase account and the remaining 10% is split among 5 offhore, high leverage brokers. So only 2% of my actual trading capital sits with each broker. If one of these brokers disapperars with my money, I'm down 2% (what most people risk on a single trade). If they all disappear at the same time, I still have 90% of my trading capital.

All risk on each trade is taken based on my total trading capital (bank account, coinbase and brokers). Due to the high leverage offered, I am able to keep most of the funds in FDIC insured accounts. For example, to trade 1 lot of GBPUSD with a 30 pip stop is $600 in risk. To execute this trade with a US broker (who only offers 20:1 on GBP pairs) requires 10K in margin, actually more when figuring in the exchange rate, more like 14K (not FDIC insured either). Offshore, with 500:1 leverage, it only requires approx $560, so the $9440 in additional margin I DO NOT HAVE TO PUT UP stays FDIC insured.

I'll use 100K in trading capital to illustrate

80K stays in FDIC insured bank account
10K stays in FDIC insured Coinbase account (money is kept here to be able to move quickly if within 25% of a margin call)
10K split between 5 brokers (2K each)

So, out of 100K in trading capital, no broker has more than 2K of it.

I rarely use more than 2:1 leverage, so in the above example, let's say I'm going to trade 2 standard lots(200K) of EURUSD, this is split into 4 minis(40K) among the 5 brokers. Even with a 50 pip stop, it' s a $200 loss at each broker, total $1,000, but still only 1% of total capital. So, at the broker level it appears I am using 20:1, in reality I am only using 2:1 as they only hold 10% of my capital.
  • #1,417
  • Jun 5, 2021 5:00pm Jun 5, 2021 5:00pm
Quoting pipmaster77
{quote} I'm about 1900 away from passing stage 1 of MFF 100K. I plan to make FTMO 400K and MFF 300K and dump half of profits every month into my personal account(s). Goal being personal account being large enough to meet my monthly monetary goals. At that point, I'll still trade the props (why not, it's just extra $$$ at that point), but if something were to happen to the props, I'm all set with the personal account(s)
Hi pip,
and may I ask you which, plan and broker you've choose from MFF.
I think plan is evaluation,but what about broker?
I have ICM real accounts,few of them,I'm ok with them but they demo feed is pretty crappy.
I don't know other two.
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,418
  • Jun 5, 2021 5:48pm Jun 5, 2021 5:48pm
Quoting Masterrmind
{quote} Only the one broker choice, namely KOT4X. Never dealt with them. Only regulated in SVG. ..
That broker is a scam. Stay away at all costs.
  • #1,419
  • Jun 5, 2021 5:53pm Jun 5, 2021 5:53pm
Quoting Simply-Me
{quote} Hi pip, and may I ask you which, plan and broker you've choose from MFF. I think plan is evaluation,but what about broker? I have ICM real accounts,few of them,I'm ok with them but they demo feed is pretty crappy. I don't know other two.
Yes, 100K eval. I used Tickmill from a recommendation of someone on the thread. However, they announced in discord last night, Tickmill will no longer be available moving forward. I asked support and I will finish stage 1 on Tickmill and then be migrated. Pretty much everything is being moved to their own server, just like FTMO did. I guess it gives these firms much better control. If it will be like FTMO, you will be on demo but the feed comes from the LPs on their live server.
  • #1,420
  • Edited 6:38pm Jun 5, 2021 6:10pm | Edited 6:38pm
Quoting pipmaster77
{quote} Yes, 100K eval. I used Tickmill from a recommendation of someone on the thread. However, they announced in discord last night, Tickmill will no longer be available moving forward. I asked support and I will finish stage 1 on Tickmill and then be migrated. Pretty much everything is being moved to their own server, just like FTMO did. I guess it gives these firms much better control. If it will be like FTMO, you will be on demo but the feed comes from the LPs on their live server.
well I see know 3 options to choose.
1. FxPig doesn't sound much convincing -))
2. ICM
3. OctaFX
Whether you think you can, or you think you can't,you're right. H.F.
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