Amor Fati--F. Nietzsche
1
1
Anyone trading with a Prop firm 6 replies
So I accepted a Prop Trading job in South Beach Miami 44 replies
prop firm new model - my trading journey 871 replies
Disliked{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.Ignored
Disliked{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.Ignored
DislikedHello, My understanding of daily drawdown on the two firms is, For MFF, reduction in previous day profits is considered drawdown. But for FTMO, reduction in previous day profits is not considered drawdown. Example Starting Equity: $105,000 Starting Balance: $100,000 MFF's daily drawdown limit is $5,250. FTMO's daily drawdown limit is $5,000 If Equity is now $99,750 MFF's daily drawdown limit is left 0. FTMO's daily drawdown limit is left 4750. ThanksIgnored
Disliked{quote} Tier1FX has the glitchiest MT4 platform I've ever come across bar none. For instance, just a short while ago, I asked Lux Support to set a TP on a trade I made because MT4 is frozen again. But there's good news: Lux is switching over to a much better broker in 14 days, I learned from our chat.Ignored
Disliked{quote} It's shouldn't even be a consideration for you if you don't know. The trading circle isn't that big. If you don't know it's better not even think about it at this point. You aren't going to find the answers of profitability here on this site or any from what I've seen. The people here aren't ready to take on trading spot. All I see is people stuck at rudimentary, just wanting to trade something and nothing beyond. It's not what you guys think nor do you guys know what you're really up against. This is hard work.Ignored
DislikedDo you people realize that only one that list is a legitimately registered prop firm and they don't even trade spot fx. This is astonishing. I skimmed it quickly but more importantly is why you people are making yourselves so vulnerable and ready for disappointment. There's a massive amount of self injustice here due to the lack of what trading spot really is.Ignored
Disliked{quote} You are quite right mate. Some people on this thread never passed maths at school I'm afraid.Your example also holds true for FT as well.
Ignored
Disliked{quote} So, if balance is 100,000 and equity is 105,000, I can't lose 5250 in addition to the 5K on MFF. I have passed 2 100K challenges with them and wasn't even aware, 2 reasons: 1. I never even approaching anything close to these numbers 2. I never leave anything open beyond + or - a few hundred dollars That's very interesting info though So, based on this info, obviously never leave anything open at rollover with MFF. Close and reopen.Ignored
Disliked{quote} You can so long as a new day hasn't started. The new day reset the equity calculation. Its written on the website. On FTMO for example, only negative equity counts. So if you hold the trade over 2 days and the equity shrinks on the second day, your calculation will be changed similarly to MFF but on positive equity at rollover it is not the case at FTMO.Ignored
Disliked{quote} I guess I just trade and don't pay much attention. I just simply never approach the limits....makes life way simpler.Ignored
Disliked{quote} So, if balance is 100,000 and equity is 105,000, I can't lose 5250 in addition to the 5K on MFF. I have passed 2 100K challenges with them and wasn't even aware, 2 reasons: 1. I never even approaching anything close to these numbers 2. I never leave anything open beyond + or - a few hundred dollars That's very interesting info though So, based on this info, obviously never leave anything open at rollover with MFF. Close and reopen.Ignored
Disliked{quote} Yes that is the answer to the problemI don't even think that Myff allow more then a $5000 DD at any time on a 100k account. In other words, let's say you add $2000 on the day and your balance stands at $102000, you can then not go below $97000. Whereas when you started the day, your limit was $95000. Rather ridiculous in my view which is why I don't like their challenge DD rules. But of course if one is never going to test the limits then it's not going to be a problem. One has to remember of course that it carries...
Ignored
Disliked{quote} Yes that is the answer to the problemI don't even think that Myff allow more then a $5000 DD at any time on a 100k account. In other words, let's say you add $2000 on the day and your balance stands at $102000, you can then not go below $97000. Whereas when you started the day, your limit was $95000. Rather ridiculous in my view which is why I don't like their challenge DD rules. But of course if one is never going to test the limits then it's not going to be a problem. One has to remember of course that it carries...
Ignored
Disliked{quote} Its really funny because the whole positive equity scenario comes up all the time. But how many people are holding 5% profit overnight regularly? I'll tell you how many.... 0.. maybe 1 and that guy should probably go work in a bank and not an online prop firm because a 5% profit in a day is insanely good if you can do it regularly.Ignored