Just read the weekend announcement on MFF discord about those HK50 MT4 gap gamers. Priceless, love it! 
Featured US Prop Firms
- #5,966
- Dec 8, 2021 5:44am Dec 8, 2021 5:44am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} Never mind, just searched the thread (which I always do before posting).....fake payouts, interview with founder is a complete joke. Nope, still only 2 prop firms.
- #5,968
- Dec 8, 2021 10:57am Dec 8, 2021 10:57am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
IF the main TCF company (not one of their white labels!) does pay out OK (they appear to) then I would say that their OTF direct funding model is possibly attractive?
60% profit share - the one thing I don't like is that the scaling is not independent of taking profits. i.e. if you take your profits, you don't get scaled up. You have start with the 25k option (going for $700 at the moment) if you want scaling.
The one BIG benefit is that once you're scaled up, and if you violate the DD limits, you are not knocked out completely. You are reset down to the previous level. That is a really nice benefit I have to say!
I suppose that the answer is to make $1200 and withdraw your profit to get back your sign-up fee and then make $2500 to get scaled up to $50k - after that try for 10% and withdraw your 3k clean profit and so on.......
They do accept EA's but that martingale rule is a bummer
What do you guys think??
60% profit share - the one thing I don't like is that the scaling is not independent of taking profits. i.e. if you take your profits, you don't get scaled up. You have start with the 25k option (going for $700 at the moment) if you want scaling.
The one BIG benefit is that once you're scaled up, and if you violate the DD limits, you are not knocked out completely. You are reset down to the previous level. That is a really nice benefit I have to say!
I suppose that the answer is to make $1200 and withdraw your profit to get back your sign-up fee and then make $2500 to get scaled up to $50k - after that try for 10% and withdraw your 3k clean profit and so on.......
They do accept EA's but that martingale rule is a bummer
What do you guys think??
- #5,973
- Dec 8, 2021 5:22pm Dec 8, 2021 5:22pm
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote}-Someone may correct me if I am wrong, but I believe that this only applies to overall draw-down (not daily). And if I remember correctly, their model basically ensures that your profits serve as draw-down, so they are able to offer this without any risk even though it is promoted as something like a gift.
- #5,975
- Dec 9, 2021 2:13am Dec 9, 2021 2:13am
- Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts
{quote} The martingale rule can be turned around easily, although it's probably an invitation to be kicked out if one does it.... "Martingale trading is the only prohibited strategy. Martingale to us is defined as opening a position while first position opened is in drawdown, and following positions added in the same direction and same symbol are opened in multipliers of first position size. E.g. For a 1 lot sell position, a multiplier in this case starts from 1.01, so 1 and below is not classified as martingale" One may buy 1 lots at 100, then...
E.g/// you can open ten 1 lot positions as price continues to move against you.. 1 1 1 1 1 1 ...
or you could reduce the sizes....
You only violate when you increase the position sizes.
{quote} Yes quite right, there is no daily DD just an overall stop-out of 5%. And if you can't draw the $2500, you are losing your 60% which covers them nicely if you blow out on the 50k account. So they are not giving anything away!
Risk your money with DT4X if you really want the most sensible direct funding offer. The 1:10 leverage will also help keep your wild side in check too lol.
Monthly instead of biweekly or weekly pay out is a bummer though. Scaling plan is a little retarded too.
- #5,976
- Dec 9, 2021 7:58am Dec 9, 2021 7:58am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} So long as your additional positions are not larger tan the first one which may be in DD at the time, then you're good. E.g/// you can open ten 1 lot positions as price continues to move against you.. 1 1 1 1 1 1 ... or you could reduce the sizes.... You only violate when you increase the position sizes. {quote} it's just the same as any direct funding model. Waste of time in my opinion. Risk your money with DT4X if you really want the most sensible direct funding offer. The 1:10 leverage will also help keep your wild side in check too lol....
I just think that it's horses for courses. One thing that makes the TCF direct funding different is that they accept EA's. At this moment I'm testing an EA which opens one trade at a time (Haha that's different to my wild normal trading style!) with SL and TP. 75% win ratio - even higher if one keeps a beedy eye on the volatility situation.
It's all down to how profitable one is I suppose. It's getting over the first few hurdles with these direct funding models and getting scaled up. I mean let's say one can do 2.5% on the 25k account and take a withdrawal. That takes care of your initial stake so now whatever you make over and above is bonsella
If one can then do 5% and rather get scaled up to 50k, I know one has actually paid for it but it's not actually coming out of one's own pocket and one then has 250k buying power (with the 50k account)Am I making any sense?
- #5,977
- Dec 9, 2021 8:13am Dec 9, 2021 8:13am
{quote} So long as your additional positions are not larger tan the first one which may be in DD at the time, then you're good. E.g/// you can open ten 1 lot positions as price continues to move against you.. 1 1 1 1 1 1 ... or you could reduce the sizes.... You only violate when you increase the position sizes. {quote} it's just the same as any direct funding model. Waste of time in my opinion. Risk your money with DT4X if you really want the most sensible direct funding offer. The 1:10 leverage will also help keep your wild side in check too lol....
- #5,978
- Dec 9, 2021 11:05am Dec 9, 2021 11:05am
- Joined Feb 2011 | Status: Trader | 6,018 Posts
{quote} Sure thanks. Martingale is a recipe for disaster anyway. I just think that it's horses for courses. One thing that makes the TCF direct funding different is that they accept EA's. At this moment I'm testing an EA which opens one trade at a time (Haha that's different to my wild normal trading style!) with SL and TP. 75% win ratio - even higher if one keeps a beedy eye on the volatility situation. It's all down to how profitable one is I suppose. It's getting over the first few hurdles with these direct funding models and getting scaled up....
Mmmm to answer my own question, I think I'm not
If you manage to make that 10% and want to get scaled up (only 25k account qualifies), you're losing $1500 - might as well rather buy another 25k account and keep the change!!
- #5,979
- Dec 9, 2021 11:06am Dec 9, 2021 11:06am
- Joined May 2020 | Status: Classified | 2,500 Posts
Garbage. By the virtue of holding out their hands for others to do the trading for them, they are admitting that they don't know how to trade or what to do to turn a buck. Now, how can such people who don't know anything, can say what is right or what is wrong? If they knew, they'd be doing it.
It's all down to how profitable one is I suppose. It's getting over the first few hurdles with these direct funding models and getting scaled up. I mean let's say one can do 2.5% on the 25k account and take a withdrawal. That takes care of your initial stake so now whatever you make over and above is bonsella