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  • #1,561
  • Jun 16, 2021 10:17am Jun 16, 2021 10:17am
Quoting pipmaster77
{quote} No, I don't like to have the same trades in any more than 2 accounts at once. Variety of reasons....different restrictions, loss limits on the props, different systems fit better with each firm, etc. Right now, I have FTMO, personal account, then evals with MFF and 5%ers.
very well done and terrfic going to trade 2 funded accounts + 2 evaluation.

By the way,with MFF, how many trading days you took to cross 8 % ?
Intraday only.
  • #1,562
  • Jun 16, 2021 11:18am Jun 16, 2021 11:18am
Quoting pipmaster77
{quote} Right. I'd say with 100% certainty, that if they don't proofread their vision statement, probably best to stay away. I mean "vission"
If their spelling is this good, I wonder what their accounting is like?
Always read Post #1
  • #1,563
  • Jun 16, 2021 11:27am Jun 16, 2021 11:27am
Quoting navk
{quote} very well done and terrfic going to trade 2 funded accounts + 1 evaluation. By the way,with MFF, how many trading days you took to cross 8 % ?
18. I got to within $1900 in 10 days and then got careless trying to hit it too quick
  • #1,564
  • Edited 12:41pm Jun 16, 2021 12:29pm | Edited 12:41pm
Quoting pipmaster77
{quote} 18. I got to within $1900 in 10 days and then got careless trying to hit it too quick
It happened with me too.

I was in @ + 5.3 % in 4 days, then did carelss mistakes to go below Initial balance.

But recovered though.

Now I am closing in. 14 days passed.

Let us see.
Intraday only.
  • #1,565
  • Jun 16, 2021 1:12pm Jun 16, 2021 1:12pm
Quoting navk
{quote} It happened with me too. I was in @ + 5.3 % in 4 days, then did carelss mistakes to go below Initial balance. But recovered though. Now I am closing in. 14 days passed. Let us see.
Lol See that it's not as easy as that time you breached the MAx Daily DD then went on to have a great winning streak with little DD?

Congrats on the recovery. Always remember, a free retry is $500 times better than paying again.
  • #1,566
  • Jun 16, 2021 1:53pm Jun 16, 2021 1:53pm
Quoting pipmaster77
5%ers- this one will shock most coming from me. I cannot stand their standard model, but they probably have the best reputation of all. Looks like they've jumped through all the legal loopholes. I LOVE THE NEW MODEL, free eval, pay once you pass....$300 for $4K in DD. Currently on challenge 1 with them.
All I see on their website is the standard, pay upfront offer. Where can i find this new model where you pay once you pass ?

EDIT: Ahhhh .... it's not that obvious but I found it:
https://the5ers.com/top-1/
  • #1,567
  • Jun 16, 2021 2:47pm Jun 16, 2021 2:47pm
Quoting rjay
{quote} All I see on their website is the standard, pay upfront offer. Where can i find this new model where you pay once you pass ? EDIT: Ahhhh .... it's not that obvious but I found it: https://the5ers.com/top-1/
Yes, you got it....summer plan
  • #1,568
  • Jun 16, 2021 5:07pm Jun 16, 2021 5:07pm
Guys and what do you say about this option?

Inserted Video
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,569
  • Jun 16, 2021 10:05pm Jun 16, 2021 10:05pm
Quoting Simply-Me
Guys and what do you say about this option? https://www.youtube.com/watch?v=-MDuzmLXXhA&t=625s
Guy with shaved head regurgitates what we already know in hopes of getting paid affiliate $$$.
Pride always comes before destruction.... -Proverbs 16:18
  • #1,570
  • Jun 16, 2021 10:37pm Jun 16, 2021 10:37pm
Quoting doji
{quote} Hopefully, Lux reconsiders its decision to impose the trailing DD rule on all account levels. Maybe if they see the unfavorable reaction at forums like here or, more important, that less people are signing up because of it, they would. Besides, if we take the $700k balance as an example, assuming the account lost 5% (instead of the allowed 4%), they'd still have $665k left of the profits gained. Which is not so bad, imo. Anyway, keeping my fingers crossed...
Hope your doing well on your challenge with Lux, I'm in one also, currently at 4%, I will finish my minimum 29 days this week. I trade very conservatively on this account. Thanks for bringing to my attention the relative drawdown for all levels. I really can't believe they did that, like pipmaster said, we didn't sign up for that. I'm sure they are going to get alot of pushback.
  • #1,571
  • Jun 16, 2021 10:40pm Jun 16, 2021 10:40pm
Quoting Simply-Me
Guys and what do you say about this option?
Given the FT CEO has admitted everyone is on demo and goes no where near the real market, how will that work if some of the FT traders get really good at what they do? I dont see any of these demo trading companies being sustainable into the future. Ponzi schemes ALWAYS collapse.

A worthwhile metric for the front page on this thread: accounts are live/ not live after successful completion of the evaluation.

Is there a way to independently determine that?
  • #1,572
  • Jun 17, 2021 12:04am Jun 17, 2021 12:04am
Quoting Le.Metier
{quote} Given the FT CEO has admitted everyone is on demo and goes no where near the real market, how will that work if some of the FT traders get really good at what they do? I dont see any of these demo trading companies being sustainable into the future. Ponzi schemes ALWAYS collapse. A worthwhile metric for the front page on this thread: accounts are live/ not live after successful completion of the evaluation. Is there a way to independently determine that?
simple solution don't go near prop firms then all this fear will disappear.
  • #1,573
  • Jun 17, 2021 12:20am Jun 17, 2021 12:20am
First off, great thread, so a big shout out to Mastermind for starting it. I've read the whole lot (skimmed quite a bit later on) but in reality much of it is repetitive and circular.

I come to trading from a gambling background since the 70s (blackjack, roulette (VB) and Betfair) though I don't consider myself a gambler but an Advantage Player (AP), having gained a significant advantage in all areas I continued with. I'm therefore quite used to the portrayal of scams as profitable systems as those areas are rife with them to the extreme. I've also read a great deal of literature around the subjects, including 'Fooled by Randomness' by Taleb which I'd really advise many of the posters on this thread to read as they don't appear to understand the fundamentals.

My personal conclusion is that if I'm going to try any sort of 'prop' route I ain't gonna pay for the privilege thank you. But I like the Darwinex and Alpari PAMM models.

Most of the rest I really think are scams, or the next best thing and everyone would be wise taking everything they say with a pinch of salt.

In fact I'd steer clear of any paid for prop firm. Being an AP is a longterm practice so why rush it with the much greater probability of being scammed ?

Keep up the good work Mastermind and thanks for the thread.
He was looking for the card so high and wild hed never need to deal another
  • #1,574
  • Jun 17, 2021 12:39am Jun 17, 2021 12:39am
Quoting MoxFulder
{quote} Hope your doing well on your challenge with Lux, I'm in one also, currently at 4%, I will finish my minimum 29 days this week. I trade very conservatively on this account. Thanks for bringing to my attention the relative drawdown for all levels. I really can't believe they did that, like pipmaster said, we didn't sign up for that. I'm sure they are going to get alot of pushback.
Nice to know, Mox. Look forward to your interview with Oliver one of these days...Keep us posted, ok?

I still think Lux is the real deal and even with the change of rules (which they badly need to rethink!), I'm willing to play the long game and stick it out with them. That KPMG certification's a nice bonus, too, btw.
Amor Fati--F. Nietzsche
  • #1,575
  • Jun 17, 2021 12:46am Jun 17, 2021 12:46am
Quoting Le.Metier
{quote} Given the FT CEO has admitted everyone is on demo and goes no where near the real market, how will that work if some of the FT traders get really good at what they do? I dont see any of these demo trading companies being sustainable into the future. Ponzi schemes ALWAYS collapse. A worthwhile metric for the front page on this thread: accounts are live/ not live after successful completion of the evaluation. Is there a way to independently determine that?
ok, and which prop firm provide real account for trader?
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,576
  • Jun 17, 2021 12:52am Jun 17, 2021 12:52am
Quoting Simply-Me
{quote} ok, and which prop firm provide real account for trader?
I asked the same question at the end of my previous post.

"Is there a way to independently determine that?"
  • #1,577
  • Jun 17, 2021 12:56am Jun 17, 2021 12:56am
Quoting mixedbags
{quote} simple solution don't go near prop firms then all this fear will disappear.
Understanding the funding model is the basis of the thread. Ignorance compels you to call it fear, I call it being informed.
  • #1,578
  • Jun 17, 2021 1:13am Jun 17, 2021 1:13am
Quoting Le.Metier
{quote} Understanding the funding model is the basis of the thread. Ignorance compels you to call it fear, I call it being informed.
I know you are well educated. From Harvard or Oxford?
  • #1,579
  • Jun 17, 2021 1:32am Jun 17, 2021 1:32am
Quoting Le.Metier
{quote} I asked the same question at the end of my previous post. "Is there a way to independently determine that?"
I think none,because to trade some else money in most countries will required some kind of licence and it might be regulated.
I've read from some prop firm (don;t remember which one),that traders are getting paid for their results in training a they somehow copy trades i real market,but who knows.
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,580
  • Jun 17, 2021 1:52am Jun 17, 2021 1:52am
Quoting doji
{quote} . That KPMG certification's a nice bonus, too, btw.
Wait, What? They certify you if you successfully pass or what?
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