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Prop Firm Elite

  • #41
  • Nov 16, 2021 11:05am Nov 16, 2021 11:05am
Quoting JotaP
{quote} Thank you for the link. ICT (Michael Huddleston) is brilliant, even though most of what it teaches is likely garbage and filler, the 5% that is not garbage is genial, in my opinion. Everything is manipulated straight from the top, the big Market Maker & Smart Money maestro is the FED. FED can drive USD exchange rates prices any direction it wants by buying and selling to itself, undercovered under different institutional entities. It also lends money to banks for banks to purchase stocks and move the stock market up. Then, all of a sudden,...
Interesting.

The question we can ask ourselves is: Can we predict what big players will do next?

Probably, if we spend our research time in this regard, we are closer to finding profitable strategies than trying to trade based on other theories.

What I'm sure is a total waste of time is to trade based on harmonics etc. That is the type of trading of a fake-prop-firm's trader.
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  • #42
  • Nov 16, 2021 11:39am Nov 16, 2021 11:39am
Quoting PaulMF
{quote} Interesting. The question we can ask ourselves is: Can we predict what big players will do next? Probably, if we spend our research time in this regard, we are closer to finding profitable strategies than trying to trade based on other theories. What I'm sure is a total waste of time is to trade based on harmonics etc. That is the type of trading of a fake-prop-firm's trader.
We can predict up to a certain point. In particular when there is a big move in one direction we must expect a huge pullback in the opposite direction. The reason is that big moves are very costly and FED will recover part of the cost in the pull back. A 50% pullback is normal (there is some correspondence with Fibonacci levels, but no magic numbers, it is just the way it goes to recover liquidity).

All the algorithms, including harmonic based, are surrogates that attempt to guess the future. By the future is manipulated not deterministic.
Follow your guts, if you want to lose your money...
  • #43
  • Edited 5:55pm Nov 16, 2021 5:20pm | Edited 5:55pm
Catching an average of 10% of those pullbacks would be really great. I wouldn't use any fibonacci number for that.
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  • #44
  • Nov 16, 2021 7:10pm Nov 16, 2021 7:10pm
Quoting PaulMF
Catching an average of 10% of those pullbacks would be really great. I wouldn't use any fibonacci number for that.
Fibonacci is a silly concept when applied to trading, but the 50% Retracement level is the Point of Equilibrium and it works many times.
Follow your guts, if you want to lose your money...
  • #45
  • Nov 17, 2021 3:21am Nov 17, 2021 3:21am
I can't understand why this concept came to the trading world. I can't understand why it is so popular on some sites. It makes me think that some trading theories have been created to provide some fantasy to the markets that only losers are passionate about. And there it is where some interests arise for this nonsense.
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  • #46
  • Nov 17, 2021 5:16am Nov 17, 2021 5:16am
Quoting PaulMF
I can't understand why this concept came to the trading world. I can't understand why it is so popular on some sites. It makes me think that some trading theories have been created to provide some fantasy to the markets that only losers are passionate about. And there it is where some interests arise for this nonsense.
It is like explaining to kids how babies are made. They will be happy with the explanation still remain with no clue.
Follow your guts, if you want to lose your money...
  • #47
  • Nov 18, 2021 4:09am Nov 18, 2021 4:09am
Quoting PaulMF
This thread is totally devoted to real Proprietary Trading Firms and what they can offer to new and experienced traders. It is also acceptable to discuss bad practices of those that aren't real prop-firms. But in this case, promotion or any positive insight is not allowed as we all know that they cheat on newbies and have flooded this forum with fake memberships that insult fellow traders when they unveil these companies' bad practices. As a first negative review of a popular prop-firm-scam that is very active in this forum, you may enjoy watching...
Your "amazing" video just got removed and user deleted.
  • #48
  • Nov 18, 2021 4:17am Nov 18, 2021 4:17am
Quoting fx11trade
{quote} Your "amazing" video just got removed and user deleted.
That's because FTMO probably reported that the user wasn't the original publisher and got rid of that problem for their fake financial business model. Anyone living in the UK can see it here: https://www.bbc.co.uk/iplayer/episod...1/instatraders


This amazing video unveils the real story behind all these fake prop-firms and FTMO specifically.
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  • #49
  • Nov 18, 2021 4:22am Nov 18, 2021 4:22am
Quoting fx11trade
{quote} Your "amazing" video just got removed and user deleted.
Thanks for your information. It's "amazing". Just updated the first post.
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  • #50
  • Nov 18, 2021 5:09am Nov 18, 2021 5:09am
....
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  • #51
  • Nov 18, 2021 5:11am Nov 18, 2021 5:11am
...
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  • #52
  • Nov 18, 2021 5:12am Nov 18, 2021 5:12am
Quoting Max0r
{quote}
All my calculations are based on expectancy which is based on risk units that are derived from considering worst case loss streak scenarios based on drawdown limits. The scale-up is not an illusion from that perspective, but yes, after recalculating, a 500x foreign account is definitely the fastest way to scale, using the same expectancy (much higher percentage risk of that small account size, but with 500x its easy to recover from since so little equity is needed to keep sizing the same).
Now, as far as the hitting targets that are exactly...
Interesting. Your critical thinking fits better in this elite thread.
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  • #53
  • Nov 18, 2021 5:26am Nov 18, 2021 5:26am
Quoting JotaP
{quote} It is like explaining to kids how babies are made. They will be happy with the explanation still remain with no clue.
This tool is a must for any trader that want to manage risk and is not a coder: AWTT - Trader Toolkit | Forex Factory

Are you planning to release a new version or new tools of the like in the future?
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  • #54
  • Edited 8:54am Nov 18, 2021 8:20am | Edited 8:54am
Quoting PaulMF
{quote} This tool is a must for any trader that want to manage risk and is not a coder: AWTT - Trader Toolkit | Forex Factory Are you planning to release a new version or new tools of the like in the future?
I have to agree that you are 100% correct (could not be otherwise, because I did it) and I believe that AWTT is the best available tool for Retail Trading (not only its Risk Management part).

Still, I am not selling much of it and don't expect things to improve. AWTT is not relevant for my income as well, so I am not depressed. For many years I have been doing things because I enjoy and believe, some of them became popular some not. When they don't stick I move on.

About AWTT itself, it does not need much improvement because it is coherent and complete. I wrote a lot about how to use it in the manual, people will need to have a look to know more. However, I have been adding little things because I use it myself almost exclusively. So, I will post an update soon, likely next week.

Yes, I am working on new things. I think a lot on the things without doing anything in concrete then work very fast to make things happen. Now, I am in stage 1. LOL.

Thank you for the interview!
Follow your guts, if you want to lose your money...
  • #55
  • Nov 18, 2021 8:53am Nov 18, 2021 8:53am
Thanks JotaP. Keep us posted about any new projects you may be working on.
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  • #56
  • Nov 18, 2021 9:13am Nov 18, 2021 9:13am
Another issue to be worried about. Among those members who demand to be an FTMO Trader.
Attached Image (click to enlarge)
Click to Enlarge Name: pipmaster77 inconsistency1.JPG Size: 35 KB


There is one who says:
Attached Image (click to enlarge)
Click to Enlarge Name: pipmaster77 inconsistency2.JPG Size: 44 KB


What the hell! Is even that possible? Can you imagine being a trader of a prop-firm without knowing in which market you are trading??? How can a trader be sure that trades are being taken live without knowing this information?

Commercial members or fanciful wannabe a pro .

Clearly, this is orchestrated.
Always ready to help
  • #57
  • Nov 18, 2021 9:51am Nov 18, 2021 9:51am
Quoting PaulMF
Another issue to be worried about. Among those members who demand to be an FTMO Trader. {image} There is one who says: {image} What the hell! Is even that possible? Can you imagine being a trader of a prop-firm without knowing in which market you are trading??? How can a trader be sure that trades are being taken live without knowing this information? Commercial members or fanciful wannabe a pro . Clearly, this is orchestrated.
But since FTMO does not tap anywhere other than the 95% morons that lose their challenges, the real question is: Why does not FTMO kick out these monstrous pip eaters that do not generate any value?
Follow your guts, if you want to lose your money...
  • #58
  • Nov 18, 2021 10:17am Nov 18, 2021 10:17am
Because they kick out themselves in the first few months. And they pay more in consecutive participation fees than what they get in those few months of gaming. Don't trust in that 20k figure.
Always ready to help
  • #59
  • Nov 18, 2021 10:52am Nov 18, 2021 10:52am
Quoting PaulMF
Because they kick out themselves in the first few months. And they pay more in consecutive participation fees than what they get in those few months of gaming. Don't trust in that 20k figure.
Of course, consistent traders do not fit into the model.

FTMO brings in every week thickhead obnoxious individuals to showcase their "I earned a lot from FTMO" videos with the purpose of recruiting new flocks of morons to keep the system running. But in the following month they are out because they are idiots and luck doesn't last long.
Follow your guts, if you want to lose your money...
  • #60
  • Nov 18, 2021 11:45am Nov 18, 2021 11:45am
Quoting PaulMF
{quote} Interesting. The question we can ask ourselves is: Can we predict what big players will do next? Probably, if we spend our research time in this regard, we are closer to finding profitable strategies than trying to trade based on other theories. What I'm sure is a total waste of time is to trade based on harmonics etc. That is the type of trading of a fake-prop-firm's trader.
Yes, it can be predicted. I call it intention. IMHO that's the only way to retire as a trader
Enter at the bottom or top: Needs 1-2 months to hit your TP (300=500 pips) (Good)
Grid can be used to the right direction to milk the market, but small portions to be in the retraces, maybe Millionaire Expert from FF
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