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The5ers - Trading & Growth Program

  • #1,341
  • Jul 9, 2021 8:18am Jul 9, 2021 8:18am
Quoting Jay3ast
I cannot execute 2 lots or bigger trade on summer plan. I am risking only 0.5% per trade or per pair. Is it just me or everyone else?
1% of 2 lots is about 12 pips stoploss. i think they consider it risky specially when stoploss order is not guaranteed
slip may occur and lead to risk violation.
not sure.
  • #1,342
  • Jul 9, 2021 9:05am Jul 9, 2021 9:05am
Quoting Feelas
{quote} 1% of 2 lots is about 12 pips stoploss. i think they consider it risky specially when stoploss order is not guaranteed slip may occur and lead to risk violation. not sure.
That can't be it.
Look closer, he's risking only 0.50% ($125) per trade and that's taking into consideration his stop loss.
5ers allow upto 1% ($250) SL per trade.
  • #1,343
  • Jul 9, 2021 9:30am Jul 9, 2021 9:30am
Strange, I'll forward this on, thanks.
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  • #1,344
  • Jul 9, 2021 9:52am Jul 9, 2021 9:52am
Quoting Koop
{quote} Same here. I can open over 2 lots but Something's not right about the leverage. I don't have access to the full margin that a 25k with 1:10 leverage account should allow. As the account grows it gets better but still, something's not right.
Hello koop
Can you please specify what lot size you were trying for what pair, and what other positions were live at that time?
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  • #1,345
  • Jul 10, 2021 1:19am Jul 10, 2021 1:19am
Do you have any plans to introduce or allow trading of GOLD ?
Trading is SIMPLE not EASY.
  • #1,346
  • Jul 10, 2021 1:42am Jul 10, 2021 1:42am
Quoting The5ersTF
{quote} Hello koop Can you please specify what lot size you were trying for what pair, and what other positions were live at that time?
It'll take a little time sift through my closed/cancelled positions, so i'll be sure to post one of such occurrences in real time next week.
  • #1,347
  • Jul 12, 2021 12:11am Jul 12, 2021 12:11am
Quoting Koop
{quote} That can't be it. Look closer, he's risking only 0.50% ($125) per trade and that's taking into consideration his stop loss. 5ers allow upto 1% ($250) SL per trade.
Depends on the pair. 2 lots on GCHF needs $27,000 in margin. He wouldn't have enough in his account. He would have enough for AUDUSD, that only needs about $14900.

When calculating margin its important to remember that if the currency is stronger than your account base currency (GBP is stronger than USD) than you need more margin to open that pair. As of speaking GBPUSD is 1.389. So you gotta multiply 1 USD x 1.389 (GBPUSD) first THEN divide it by your magin (account is 1:10).

So it'd be 200,000 (2 lots is 200,000 units) x 1.389 divided by 10. That is your required margin. For AUDUSD it'd be 200,000 x 0.747 divided by 10. So you'd need a lot less margin to open 2 lots of AUDUSD than 2 lots of GBP because the USD is stronger than the AUD but weaker than the pound. Hope that helps with calculating it in the future.
The best strategy is a profitable one.
  • #1,348
  • Jul 12, 2021 3:03am Jul 12, 2021 3:03am
Quoting AnRan
{quote} Depends on the pair. 2 lots on GCHF needs $27,000 in margin. He wouldn't have enough in his account. He would have enough for AUDUSD, that only needs about $14900. When calculating margin its important to remember that if the currency is stronger than your account base currency (GBP is stronger than USD) than you need more margin to open that pair. As of speaking GBPUSD is 1.389. So you gotta multiply 1 USD x 1.389 (GBPUSD) first THEN divide it by your magin (account is 1:10). So it'd be 200,000 (2 lots is 200,000 units) x 1.389 divided...
Oh yeah that makes sense. I thought the same thing but in one of my cases i was trading pairs with smaller margin requirements like AUDCAD & NZDCAD. It stll didn't add up. I'll watch for an occurrence this week and report back here.

Btw, where have you been man? blowing all that prop firm money?
  • #1,349
  • Jul 12, 2021 3:49am Jul 12, 2021 3:49am
Quoting Koop
{quote} Oh yeah that makes sense. I thought the same thing but in one of my cases i was trading pairs with smaller margin requirements like AUDCAD & NZDCAD. It stll didn't add up. I'll watch for an occurrence this week and report back here.
Two pairs I especially dislike! I can't with them wicks. If I ever trade them I switch over to Heiken Ashi candles to drown out some of that noise.

Quoting Koop
{quote} Btw, where have you been man? blowing all that prop firm money?
Haha. Once things got back to normal I couldn't be a hermit anymore! Just went back to traveling, eating out a lot, summer time fun with the kids so lots of Zoo days and Universal Studios.

True story. I actually failed a 5ers challenge a few months ago from the psychology of trying to trade at two firms at once. When Forex is sloppy usually CFD's and metals are moving nicely. So my other account would be making profit and 5ers account lagging. So I'd try a trade to catch it up, but it would just be forcing a trade. Days where I'd have one FX loser but TP on gold or something on the other account, so that account was flat or slightly up, 5ers didn't have gold so just stayed down the 0.25% loss. Was a psychology mess for me. I figured I'd wait until they opened metals and CFD's but saw the summer program was free so I signed up. I just take it super slow. The pips rule is easy for me. I just do 0.20% risk, minimum RR of 1:1 but my average is like 1:1.75. I'm only up a couple hundred dollars but up like 200+ pips. The pips are the easy part with positive RR.
The best strategy is a profitable one.
  • #1,350
  • Jul 12, 2021 4:27am Jul 12, 2021 4:27am
Quoting AnRan
{quote} Two pairs I especially dislike! I can't with them wicks. If I ever trade them I switch over to Heiken Ashi candles to drown out some of that noise. {quote} Haha. Once things got back to normal I couldn't be a hermit anymore! Just went back to traveling, eating out a lot, summer time fun with the kids so lots of Zoo days and Universal Studios. True story. I actually failed a 5ers challenge a few months ago from the psychology of trying to trade at two firms at once. When Forex is sloppy usually CFD's and metals are moving nicely. So my other...
Quote
Haha. Once things got back to normal I couldn't be a hermit anymore! Just went back to traveling, eating out a lot, summer time fun with the kids so lots of Zoo days and Universal Studios.

Lol very necessary after everything.


Quote
The pips rule is easy for me. I just do 0.20% risk, minimum RR of 1:1 but my average is like 1:1.75. I'm only up a couple hundred dollars but up like 200+ pips. The pips are the easy part with positive RR

That's actually the most challenging thing for me.. the Pip target, even with 1:2 or 3 RR trades.
Since i day trade and won't usually hold trades for more than 60 pips, i'm exploring breaking down large lots into smaller multiple positions but it's so difficult to manage manually.
  • #1,351
  • Jul 12, 2021 4:39am Jul 12, 2021 4:39am
Well good luck with that. If its a winning strategy be careful changing it to fit into a challenge/evaluation.

Only thing I can recommend is something like my Risk Assist. You can have a coder make one for you fairly cheap (around $50) and have it include a magic number. The magic number will let you have be able to use a "close all" button with those trades. The Risk Assist doesn't use magic numbers as it doesn't manage trades, just opens them with the correct RR and % risk.
The best strategy is a profitable one.
  • #1,352
  • Jul 12, 2021 7:39am Jul 12, 2021 7:39am
Please, I just found out the summer program is over, but we that already have an active account but haven't passed the challenge yet, are we still good to go with out trades....my dashboard still shows "in progress" status
  • #1,353
  • Jul 12, 2021 7:56am Jul 12, 2021 7:56am
Quoting preciousjoe6
Please, I just found out the summer program is over, but we that already have an active account but haven't passed the challenge yet, are we still good to go with out trades....my dashboard still shows "in progress" status
over for new registration. but if have already got one, that will be active in the game.
  • #1,354
  • Jul 12, 2021 8:26am Jul 12, 2021 8:26am
I was unaware of the mandatory stop loss or risk violation...I just checked and I have way more than the 3 risk violation count....but still in progress.....will this hinder me in any way from moving to level 2
  • #1,355
  • Jul 12, 2021 9:47am Jul 12, 2021 9:47am
Forex Trading Room on July 12 – 16, 2021

Here's today's recording Forex Trading Room Session.

In today’s trading room, we analyzed the charts for the upcoming week. We start with the higher time frames and then check the lower time frames to look for intraday opportunities.

We discussed the forex seasonality of the summer months and the non-directional markets providing opportunities to buy and sell.


– New at The5ers – No more minimum days or trades required! We have decided to eliminate the minimum requirements for Level 1 accounts.

Don't miss our new resource, Forex Trading Ideas. Find the best setups in the market right now, improve your skills and have more confidence in your strategies, and engage with the trading community of forex traders.

Enjoy!

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  • #1,356
  • Jul 13, 2021 10:50pm Jul 13, 2021 10:50pm
Folks,
I am still confused about the stop loss limit 1% (summer plan) and 1.5% (normal program)
is it calculated from the initial balance Or current balance/equity ?

Example summer plan
starting balance $25,000 . then made $250 profits, now my current balance is $25,250
so what would be the next stop loss limit ?
is it $250 Or $500 ?

thanks
  • #1,357
  • Jul 14, 2021 1:07am Jul 14, 2021 1:07am
Quoting Feelas
Folks, I am still confused about the stop loss limit 1% (summer plan) and 1.5% (normal program) is it calculated from the initial balance Or current balance/equity ? Example summer plan starting balance $25,000 . then made $250 profits, now my current balance is $25,250 so what would be the next stop loss limit ? is it $250 Or $500 ? thanks
Hey Feelas

Each position (or multiple positions on the same pair) should not risk more than 1% of your account balance.
If your initial balance is $25K, then don't risk more than $250. If now your balance is $27K, then don't risk more than $270 per position.

Best Regards
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  • #1,358
  • Jul 14, 2021 2:19am Jul 14, 2021 2:19am
Quoting The5ersTF
{quote} Hey Feelas Each position (or multiple positions on the same pair) should not risk more than 1% of your account balance. If your initial balance is $25K, then don't risk more than $250. If now your balance is $27K, then don't risk more than $270 per position. Best Regards
ok, it's clear.
Now i see why it's for the Top 1%.
thanks for the replay and i wish you all the best.
  • #1,359
  • Jul 15, 2021 5:49am Jul 15, 2021 5:49am
Winston.A. 34, from the Philippines, has just successfully passed our Level 1.

He is now one of The5ers funded traders and is trading with an 80K low-risk funded account on our platform.

His next mission is to reach 10% profit and double his funds to 160K.

Read Bernel Interview

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  • #1,360
  • Jul 18, 2021 2:31am Jul 18, 2021 2:31am
If you speak Spanish, you don't want to miss this one.

Sala de Trading

Webinario con Saul Lokier

Jueves, 22 de julio de 2021 09:00 AM (EST)

Regístrate Gratis Ahora!
https://zoom.us/webinar/register/WN_...Ro6f7v9jFs9kig

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