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Prop Firm Elite

  • #181
  • Dec 1, 2021 6:28am Dec 1, 2021 6:28am
Quoting Muhammedfx
{quote} do you really think you can do this then you should actually start with your own 1000 account
No doubt (for me).
Follow your guts, if you want to lose your money...
  • #182
  • Dec 1, 2021 6:29am Dec 1, 2021 6:29am
Quoting FXTrader.FF
{quote} Here you go {quote}
That's exactly what we love. Thanks!

I see you are in the early stages but keep pushing and good luck with that.

I will be following your account and hope you attract too many funds.

Take care of your overall 5% drawdown, you almost breached it.
Always ready to help
  • #183
  • Dec 1, 2021 6:30am Dec 1, 2021 6:30am
Quoting JotaP
{quote} Although I don't think they are a prop-gambling firm, I don't find the plans very attractive. The profit share is 50/50 on the direct plan and we start with a $1000 account. Although the account doubles every 5% profit, the potential earnings will be peanuts for a long time and we need to care about the 5% DD in order not to blow everything.
I agree.

Look at their results: Forex Trading Profile of BuoyTrade | Myfxbook

They are failing all the time. Real accounts do not last...
Always ready to help
  • #184
  • Dec 1, 2021 6:49am Dec 1, 2021 6:49am
Quoting PaulMF
{quote} I agree. Look at their results: Forex Trading Profile of BuoyTrade | Myfxbook They are failing all the time. Real accounts do not last...
Leverage at 1:5 is also very small, even when a good opportunity arises we are limited to trade a tiny lot. Most of the accounts are sentenced to fail soon.
Follow your guts, if you want to lose your money...
  • #185
  • Dec 1, 2021 8:32am Dec 1, 2021 8:32am
Quoting PaulMF
{quote} That's exactly what we love. Thanks! I see you are in the early stages but keep pushing and good luck with that. I will be following your account and hope you attract too many funds. Take care of your overall 5% drawdown, you almost breached it.
Thank you. I know, I have to share 50% while I can keep 100% if I trade my own ac.

I will all in if they don't change the rule
  • #186
  • Dec 1, 2021 9:10am Dec 1, 2021 9:10am
Quoting FXTrader.FF
{quote} Thank you. I know, I have to share 50% while I can keep 100% if I trade my own ac. I will all in if they don't change the rule
By the way. Does it affect how much time you employ in reaching the 5% target at each level? For example, can you last one year and your account will be kept open and after that one year, it will be funded in accordance to the new level?

Because if someone is capable of reaching something like 2 levels per year, without breaching the overall drawdown at each step, will be a real killer.

Something that real prop-firms will have to be aware of.
Always ready to help
  • #187
  • Dec 1, 2021 12:09pm Dec 1, 2021 12:09pm
Quoting JotaP
{quote} MyForexFunds is offering 15% discount with coupon BLACKFRIWEEK15 And don't know of any other.
Another one is Traders Central, offering 30% discount this month.
I think Traders Central is not a prop-gambling firm because they provide liquidity for anyone that wants to establish their own prop in 24 hours. Confusing isn't it?

They had a stupid consistency rule that has been removed, so now they have become more interesting.
With that consistency rule, even after passing the evaluation stages, the trader could be rejected if their risk team decided so.
Follow your guts, if you want to lose your money...
  • #188
  • Dec 1, 2021 12:18pm Dec 1, 2021 12:18pm
Quoting PaulMF
{quote} By the way. Does it affect how much time you employ in reaching the 5% target at each level? For example, can you last one year and your account will be kept open and after that one year, it will be funded in accordance to the new level? Because if someone is capable of reaching something like 2 levels per year, without breaching the overall drawdown at each step, will be a real killer. Something that real prop-firms will have to be aware of.
There's no trading days required to scale up the account.
  • #189
  • Dec 1, 2021 1:18pm Dec 1, 2021 1:18pm
Quoting JotaP
{quote} Another one is Traders Central, offering 30% discount this month. I think Traders Central is not a prop-gambling firm because they provide liquidity for anyone that wants to establish their own prop in 24 hours. Confusing isn't it? They had a stupid consistency rule that has been removed, so now they have become more interesting. With that consistency rule, even after passing the evaluation stages, the trader could be rejected if their risk team decided so.
Hm, aiming 10% 5% in 30 days (20 calendar days?) utilizing 1:6 leverage is challenging...
  • #190
  • Dec 1, 2021 7:52pm Dec 1, 2021 7:52pm
Quoting mcquak
{quote} Hm, aiming 10% 5% in 30 days (20 calendar days?) utilizing 1:6 leverage is challenging...
The program I am talking about has target 8%/4% in 30/60 days, leverage 1:200.
Follow your guts, if you want to lose your money...
  • #191
  • Dec 2, 2021 5:42am Dec 2, 2021 5:42am
The kid from Corp Equity Capital Ltd has been posting on the internet fake proofs of payment.
Then someone contacted Paypal...

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 190 KB
Follow your guts, if you want to lose your money...
  • #192
  • Dec 2, 2021 8:26am Dec 2, 2021 8:26am
Quoting JotaP
The kid from Corp Equity Capital Ltd has been posting on the internet fake proofs of payment. Then someone contacted Paypal... {image} {image}
Well, we don't need PayPal to confirm what we already know about these firms.
Always ready to help
  • #193
  • Edited 8:48am Dec 2, 2021 8:34am | Edited 8:48am
Let's make things clear and easy.

2022 is coming and you want to become a trader with a $1,024,000 account, with 1:5 leverage, with a $5,120,000 purchasing power—that is what Buoy Trade offers to their traders. Maximum overall drawdown when this account is reached will be 5% of $1,024,000: $51,200.

So, in order to reach that, you need to pass 10 steps in which you reach 5% profit without breaching a 5% drawdown. Well, in plain words: double or nothing, 1:1 in risk to reward terms, 100% profit relative to the amount risked. In our scenario, these 3 are synonyms.

What if I can replicate it myself? I mean, what if I can open a trading account with some money in it and reach exactly that: $5,120,000 purchasing power and a maximum overall drawdown of $51,200. Yeah, let's measure apples to apples!

Then, that will imply to pass 10 steps of double or nothing, and reach the above mentioned account, with those features.

Being x the starting balance required in our account (written in MQL, we are in a very MetaTrader forum):

Inserted Code
double x = 51200 / MathPow(2,10);

x = $50. Yes, you just need a trading account with $50.

Do your math! You'll reach the same conclusion.

Yeah, 10 "simple" steps and you finally reach to have $51,200 in your trading account with 1:100 leverage (Global Prime offers this), meaning you have a purchasing power of $5,120,000.

The broker offered by Buoy Trade, Global Prime, offers a 100% margin stop out. You can open an account (1:100 leverage) with them and risk all the amount in your account at any time.

What???? With just $50 and a simple double or nothing game I can get exactly this: $5,120,000 purchasing power and a maximum overall drawdown of $51,200.

So, you got it. It was simple for you eh? You now have a trading account with those features above mentioned. But your friend who opened an account with Buoy Trade, she is also a talented trader and reached the 10th step and has an account with the same features.

NO! Of course not! Let's see what happens from now on:

Your friend needs to reach a 10% profit (of $1,024,000) in order to get her 50% profit split. Let's suppose that both friends reach the same target in the next few months. That is $102,400.

What do you get?
- Your friend: $51,200(50% of $102,400).
- You: $102,400+ $51,200 (that you already have in your account) = $153,600.

And in the next 10% step?
- Your friend: $51,200 + $51,200 = $102,400
- You: $307,600 + $153,600 = $460,800

You aren't a good friend! Why did you let your friend open an account with Buoy Trade?

I want to become a good friend for you, and I want you to listen what I have to say:
- Don't open an account with Buoy Trade.
- Don't trade with fake prop-firms. A real prop-firm hires you. Period.
- Global Prime is probably involved. Don't open an account with them.
- FTMO was involved, as Buoy Trade acknowledges this in the website. Who knows if it is still there in some way.


Friends?

P.D.:
If you open an account with $500, in less than 7 steps you already have an account with those features discussed above.
If you open an account with $1,000, in less than 6 steps you already have an account with those features discussed above.
If you open an account with $2,000, in less than 5 steps you already have an account with those features discussed above.
If you open an account with $6,500, in less than 3 steps you already have an account with those features discussed above.
Always ready to help
  • #194
  • Dec 2, 2021 11:11am Dec 2, 2021 11:11am
Yes I had already done that maths. But practically its not that easy.
Allergic to bullshitters, never argue with fools
  • #195
  • Dec 2, 2021 12:37pm Dec 2, 2021 12:37pm
Quoting PaulMF
So, in order to reach that, you need to pass 10 steps in which you reach 5% profit without breaching a 5% drawdown.
All was well calculated for traders to have peanut profits in the best scenarios.
When traders get tired of small profits they tend to risk more, then misstep and blow the account.
Follow your guts, if you want to lose your money...
  • #196
  • Dec 2, 2021 9:22pm Dec 2, 2021 9:22pm
Quoting PaulMF
Let's make things clear and easy. 2022 is coming and you want to become a trader with a $1,024,000 account, with 1:5 leverage, with a $5,120,000 purchasing power—that is what Buoy Trade offers to their traders. Maximum overall drawdown when this account is reached will be 5% of $1,024,000: $51,200. So, in order to reach that, you need to pass 10 steps in which you reach 5% profit without breaching a 5% drawdown. Well, in plain words: double or nothing, 1:1 in risk to reward terms, 100% profit relative to the amount risked. In our scenario, these...
Well done PaulMF. I appreciate your analysis.

Can you recommend a good prop firm?

Thank you.
  • #197
  • Dec 3, 2021 4:40am Dec 3, 2021 4:40am
Quoting FXTrader.FF
{quote} Well done PaulMF. I appreciate your analysis. Can you recommend a good prop firm? Thank you.
Well, that's really difficult.

My first recommendation is this: Prop Firm Elite | Forex Factory

But it is not easy to find one in which we may fit. I think you are doing well: what you are doing in your Buoy account is a good approach. Trying to make profit, limiting losses, and using reduced leverage. If this lasts, it can be a good starting point to look for a real firm that may hire you. But it is also a good proof for those who want to invest in different strategies. You will always have your results audited by MyFXBook, and that could help you in securing capital.

So, no clear recommendations, just keep with your approach and wait to see what happens. Shortcuts aren't of great help. Avoid paying fees for challenges, as the trading conditions will go against you (conflict of interest), and that will affect your audited results.
Always ready to help
  • #198
  • Edited 11:22pm Dec 3, 2021 11:06pm | Edited 11:22pm
Quoting PaulMF
{quote}
I think you are doing well: what you are doing in your Buoy account is a good approach. Trying to make profit, limiting losses, and using reduced leverage. If this lasts, it can be a good starting point to look for a real firm that may hire you. But it is also a good proof for those who want to invest in different strategies. You will always have your results audited by MyFXBook, and that could help you in securing capital. So, no clear recommendations, just keep with your approach and wait to see what happens. Shortcuts aren't of great...
It's hard to trade consistent profits because the broker (Global Prime) often widens the spread and big spike. It has triggered my SL from time to time

Here is an example:

My BuoyTrade Prop Firm (Global Prime Broker)
Attached Image


FXOpen-ECN Live Server
Attached Image

FxPro Real:
Attached Image


These are my open trades. Don't imagine what will happen when the market opens next.
Attached Image (click to enlarge)
Click to Enlarge Name: Global Prime.png Size: 155 KB
  • #199
  • Edited 2:58pm Dec 6, 2021 2:32pm | Edited 2:58pm
On his best from her conniving girly side the Nsakey moron found that some poster of BabyPips named tradecode is actually PaulMF.

https://www.forexfactory.com/thread/...5#post13813735. Who the hell follows BabyPips posts? Only a typical loser.

The interesting part is that the conniving NsaKey did not even bother to read other posts from tradecode, he jumped straight to FF to spread the news!

Had he bothered to read other posts he would have concluded that there is nothing similar between tradecode and PaulMF. Actually, tradecode may be a guy well into his 40s or more because he mentions "i have been coding since 1983, my first programming language was atari basic on an atari 400". https://forums.babypips.com/t/where-...ssons/643740/4
Follow your guts, if you want to lose your money...
  • #200
  • Dec 7, 2021 1:45am Dec 7, 2021 1:45am
Hello traders, I want to share with you about a firm.
I started trading with TCF last month. Passed my verification and so far so good. Anyone wants to join TCF see the writing below and subscribe to my thread.
My thread link: https://www.forexfactory.com/thread/...4#post13814514
Why Traders Central Fund Corp is the best:
1. It has very low fees compared to FTMO. For USD 100k account it’s about 300$.
2. It has 3 different funding plans.
3. Profit sharing for OTF Challenge is 85%.
4. Registered in Canada and have been in business since 2018.
5. No daily loss limit if you choose 50% positive days rule on your OTF challenge.
6. Profit target is 8%/4% while drawdown is 10%. This one is huge advantage.
7. Leverage 1:200
8. Profit can be withdrawn By-weekly.
9. Instant live funding option is available.
10. All the funded accounts are live accounts.
Please do your research before joining and sign up using my link to get 30% discount.
http://fund.traderscentral.com/sign-up?ref=mdrubelislam
If you sign up using my link, I would be happy to help you anyway I can.
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