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  • #5,221
  • Nov 8, 2021 3:05pm Nov 8, 2021 3:05pm
Good grief! US30 has been going bananas all evening. Don't know why. Unbelievably volatile!

Anyway I thought I'd take advantage and get this darn Phase 1 finished today
  • #5,222
  • Nov 8, 2021 6:00pm Nov 8, 2021 6:00pm
any idea abouth this luxtradingfirm firm, their T&C is very flexible.

if any one use them plz share your experience.


TIA
  • #5,223
  • Nov 8, 2021 8:53pm Nov 8, 2021 8:53pm
Quoting inversio
any idea abouth this luxtradingfirm firm, their T&C is very flexible. if any one use them plz share your experience. TIA
Has "relative"DD. A no no in my books.
Look Left Trade Right
  • #5,224
  • Nov 8, 2021 11:08pm Nov 8, 2021 11:08pm
Quoting Basill
{quote} Has "relative"DD. A no no in my books.

yes this will reduce the growth speed, but other than this all are trader friendly, no time limit, no trading restriction, after 1st phase profit share .

Along with this mff's evaluation model looks good. i am looking for mff's evaluation models type prop firm but no luck yet
  • #5,225
  • Nov 9, 2021 2:01am Nov 9, 2021 2:01am
Quoting Mtinifx
{quote} Wow, brave man! Which size account did you go for?
just with the minimum acc of 2000 .. if the payments all goes according to what they say, will go for bigger account
  • #5,226
  • Nov 9, 2021 2:03am Nov 9, 2021 2:03am
Quoting RoverPrince
{quote} Can you please share the spreads. As I'm not able to find the broker used by MFF and spreads offered by them.
As I'm interested only with Gold at the moment, the spread is so far ok
1- 2 fixed spread is there for Gold ..
  • #5,227
  • Nov 9, 2021 7:41am Nov 9, 2021 7:41am
WARNING

Guys, this is a warning to anyone who is considering paying for an evaluation with True Forex Funds. I'm having problems!!

I requested my Phase 2 account details and I got an email telling me that they have first got to "analyse my trades". I have never had this before with Myff or Funding Talent or FTMO so I emailed them asking them what is this? They replied telling me that this is normal - they have to check to see that I didn't open any trades using Arbitrage or an EA that takes advantage of demo trading conditions. I replied saying OK, I understand that but can they hurry up and give me my Phase 2 login details because I took all my trades manually. I am a scalper.

Anyway, I have just had another email saying that I am lying. It said that there are "clear signs" that I traded with an EA!! And they don't like my trades.

Guys I think that if you are a scalper you had better not go with TFF because you are going to have problems. I can see immediately that I am in for a big fight with these guys. I'm afraid that some of you that warned me about opening an account with unknown entities may have been right

I will update you with the story as it unfolds but things don't look good. I hope that I at least get a refund.
  • #5,228
  • Edited 8:09am Nov 9, 2021 7:54am | Edited 8:09am
This is the further response. Unbelievable but true:

"As you argued false you didn't trade
with EA, we will forwarded this account to our head manager and he will
take a look at it. Yes, it says trades are placed by you but this could
be easily hacked."

Yep, fairly obvious isn't it? They are looking for reasons to knock out traders who they can see will be making possible huge profits. It's another Funding Talent story in the making I'm afraid
  • #5,229
  • Nov 9, 2021 8:08am Nov 9, 2021 8:08am
"Dear ......

Please understand, this is not against you or against your trading
stlye, we need to make sure that the strategy you(or your EA) follow can
be copied to our live account and it can be as profitable as you were.
Trade copierers and EAs are welcomed, as well as scalping if we can copy
it to our live capital.

Our head manager will take a look into it, we don't say you cheated here
or did prohibitted strategies, worst case scenario we will refund your
fee.

Please understand our situation, we are the most happy if a good traders
makes profit for us, but if this can't be realized on our account, it's
not a good deal for us."

I suppose that there are two ways to look at this. One is that they are looking to stay in the game for the long haul saying that they want to copy-trade good trader's trades to their live account.

The other side is that, quite clearly, they don't want scalpers. It's just not possible to copy-trade fast scalps. Many trades are opened and closed in less then a minute. Any scalper will know what I mean.

So, if you're a scalper this company is a no-go.
  • #5,230
  • Nov 9, 2021 8:10am Nov 9, 2021 8:10am
Seems Traders Central is making some changes for the better.

https://medium.com/traders-central-e...y-b49241f1d89a

Attached Image (click to enlarge)
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  • #5,231
  • Nov 9, 2021 8:38am Nov 9, 2021 8:38am
Quoting Nsak3y
Seems Traders Central is making some changes for the better. https://medium.com/traders-central-e...y-b49241f1d89a {image}

Says for their "aggressive challenge"? I don't see that option on their website? Isn't that Funded Academy which I presume is a TCF white label?
  • #5,232
  • Nov 9, 2021 9:01am Nov 9, 2021 9:01am
Traders Central published the announcement.
Funded Academy is just one of their white labels. I posted the image for simplicity and clarity. The aggressive program is FA's default program (on homepage).

Quoting Mtinifx
It's just not possible to copy-trade fast scalps
-This is a legitimate problem/concern. Scalping the 1-minute chart on a demo account, in some cases, cannot be replicated on a live account, depending on how you are trading. Sometimes, adjustments are needed.
  • #5,233
  • Nov 9, 2021 9:24am Nov 9, 2021 9:24am
Quoting Nsak3y
Traders Central published the announcement. Funded Academy is just one of their white labels. I posted the image for simplicity and clarity. The aggressive program is FA's default program (on homepage). {quote}-This is a legitimate problem/concern. Scalping the 1-minute chart on a demo account, in some cases, cannot be replicated on a live account, depending on how you are trading. Sometimes, adjustments are needed.

But how would the trader be aware if his/her trades could be replicated or not, after all we are supposed to be just retail traders, why should we have to know how their backend software works?

Why do some firms accommodate this and some dont, and how do we differenciate them?

Isnt this something that could be made clear from the start?
  • #5,234
  • Nov 9, 2021 9:35am Nov 9, 2021 9:35am
Looks like MFF have upped their game. Just signed up to another account and got the login 2 hours later...
  • #5,235
  • Nov 9, 2021 9:40am Nov 9, 2021 9:40am
Quoting Paulscaff1
But how would the trader be aware if his/her trades could be replicated or not, after all we are supposed to be just retail traders, why should we have to know how their backend software works? Why do some firms accommodate this and some dont, and how do we differenciate them? Isnt this something that could be made clear from the start?
-As traders, we should be aware of whether or not our trading strategy works under live, market conditions. If we do not, then we probably should not be trading with someone else's capital. To be fair.

Regarding individual prop firms, I cannot speak about that. Most firms have a disclaimer along the lines of 'we must be able to replicate your trading under real, market conditions'.

Some firms likely have their own servers or some other means to allow for faster execution and so forth. I can only speculate on that.
  • #5,236
  • Nov 9, 2021 9:55am Nov 9, 2021 9:55am
Quoting Nsak3y
{quote}-As traders, we should be aware of whether or not our trading strategy works under live, market conditions. If we do not, then we probably should not be trading with someone else's capital. To be fair. Regarding individual prop firms, I cannot speak about that. Most firms have a disclaimer along the lines of 'we must be able to replicate your trading under real, market conditions'. Some firms likely have their own servers or some other means to allow for faster execution and so forth. I can only speculate on that.
Yeah, to be fair there was 134 positions opened and closed in that day, some were open for less than a minute so I can understand how that could potentially be difficult to replicate.

Im not gonna pretend that I can understand that type of trading, Iowest TF I take setups on is M15 and I will be lucky if I can find 2 per day, if that, so not a problem I would likely have to face.

Quoting Nsak3y
Seems Traders Central is making some changes for the better. https://medium.com/traders-central-e...y-b49241f1d89a {image}
So this would mean that "risk based" position sizing is out of the question?

For example 1% risk per trade could mean vastly different lot sizes depending on stop loss size.
  • #5,237
  • Nov 9, 2021 10:08am Nov 9, 2021 10:08am
I think their lot consistency rule is mostly in place to deter traders from taking micro lot trades for the remainder of their challenge, once they have satisfied the profit target objective. I think you can reduce your lot sizes by up to 75% or something similar, but not beyond that.

As you probably know, some traders complete their challenge in one or two, big trades, then coast for the rest of the challenge. They do not want that, because they want to make sure that you can actually trade and did not just get lucky.
  • #5,238
  • Nov 9, 2021 10:17am Nov 9, 2021 10:17am
A proprietary trading firm has a gateway where all trading orders from its traders are processed. This is handled in milliseconds, no reason to restrict any strategy because it opens and closes positions within a minute. Nothing to replicate. That's ridiculous.

Just excuses to conduct their clients to another try and, of course, participation fee.
Always ready to help
  • #5,239
  • Nov 9, 2021 10:34am Nov 9, 2021 10:34am
Quoting PaulMF
no reason to restrict any strategy because it opens and closes positions within a minute.
-Any scalper knows that a lot can happen in even one or two seconds, and that trading on a demo account is not the same as trading on a live account. As already explained to you yesterday, prop firms need to ensure that they can profit from your trading. It is as simple as that.

Quoting PaulMF
Just excuses to conduct their clients to another try and, of course, participation fee.
-In the case of TFF, they have already indicated that they will refund the fee in any worse-case scenario.
  • #5,240
  • Nov 9, 2021 10:45am Nov 9, 2021 10:45am
Quoting Nsak3y
{quote}-Any scalper knows that a lot can happen in even one or two seconds, and that trading on a demo account is not the same as trading on a live account. As already explained to you yesterday, prop firms need to ensure that they can profit from your trading. It is as simple as that. {quote}-In the case of TFF, they have already indicated that they will refund the fee in any worse-case scenario.
Any trader knows, whether scalper or not, that there is no need for 1 second or 2 seconds. It can be done in a millisecond. Any trader knows that when someone wants to profit from your trading, this type of restrictions doesn't come up.
Always ready to help
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