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  • #6,841
  • Mar 9, 2022 12:31pm Mar 9, 2022 12:31pm
Quoting Nsak3y
{quote}-Thanks for sharing. Took a look at their 80K program: Cost: 6,400 Draw-down allowance: 8% 8% of 80K = 6,400 Nobody should fall for this, but some probably will, sadly. {quote}-Saw this. Wish that they would disclose actual number of sign-ups, as percentage-based statistics are not as meaningful, especially if we want to compare month-to-month data.
8% Drawdown, It's really not worth it.
  • #6,842
  • Mar 9, 2022 12:54pm Mar 9, 2022 12:54pm
Quoting sampat
Plus fees in EURO so they get 11% extra on the top of drawdown given current exchange rates.
-I assumed that this was in error, else that would be really shady.

Quoting iTechConnect
8% Drawdown, It's really not worth it.
-Especially since you are covering 100% of the draw-down with your own money! There is nothing of worth with this program.
  • #6,843
  • Mar 9, 2022 1:21pm Mar 9, 2022 1:21pm
Quoting sampat
{quote} Plus fees in EURO so they get 11% extra on the top of drawdown given current exchange rates.
if you look at it again, carefully, you will realize that the fees are in GBP (not in Euro).
thus it is more like 31% "extra on top of drawdown"
there is always, always another trade!!
  • #6,844
  • Mar 9, 2022 7:18pm Mar 9, 2022 7:18pm
Quoting profitfarmer
{quote} if you look at it again, carefully, you will realize that the fees are in GBP (not in Euro). thus it is more like 31% "extra on top of drawdown"


all direct funding r same , no dd more than paid fee/ deposited amount
  • #6,845
  • Mar 9, 2022 9:59pm Mar 9, 2022 9:59pm
My evaluation phase 1. Day 3 elapsed. 100 k evaluation.

The funded 100 k is another one at this stage.
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Intraday only.
  • #6,846
  • Mar 9, 2022 11:36pm Mar 9, 2022 11:36pm
Last day of challenge I believe.
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A few options here.

Critically important is:

a) not dropping below initial balance;
b) not breaking the 5% Daily DD trading objective;and
c) less important is the overall DD limit here since Daily DD would get tagged first in this situation.

I can attempt to hit 12K profit level before day end to secure a 4 week extension.

16K appears far distant at this stage however I'm looking to set a uniform price target on a managed cluster of entries on EU and perhaps another symbol.

Highest equity level reached was just over $11K and had I not had a 0.8% loss on the account yesterday I may well have attempted to trade up to 12K and looked for the time extension.

However, the situation is a little different now so let's see what the end result will be.

Worst case situation is a challenge repeat and I'm ok with that so ultimately I do have about 9K to play with here.

Important is to know that I would not trade a funded account this way but for a challenge the only thing that really matters is trading within their rules and being above initial balance at the end of the challenge.

Let's play.

Masterrmind ..........
Master your Mind then Master your Trades
  • #6,847
  • Mar 10, 2022 12:38am Mar 10, 2022 12:38am
Quoting Masterrmind
Last day of challenge I believe. {image}A few options here. Critically important is: a) not dropping below initial balance; b) not breaking the 5% Daily DD trading objective;and c) less important is the overall DD limit here since Daily DD would get tagged first in this situation. I can attempt to hit 12K profit level before day end to secure a 4 week extension. 16K appears far distant at this stage however I'm looking to set a uniform price target on a managed cluster of entries on EU and perhaps another symbol. Highest equity level reached was...
Long setup on EU.

5 lot entries applied.

Several orders already active.

Stops all set such that a stopout would have the account sitting at about a 1% gain.

If price gets very close to the 1.11 handle challenge will be completed.

A deep pullback to the downside and the outcome will be a lot less favorable.

Hold tight it's going to be a bumpy ride!

Masterrmind ...........
Master your Mind then Master your Trades
  • #6,848
  • Edited 1:45am Mar 10, 2022 12:46am | Edited 1:45am
Quoting Masterrmind
Last day of challenge I believe. {image}A few options here. Critically important is: a) not dropping below initial balance; b) not breaking the 5% Daily DD trading objective;and c) less important is the overall DD limit here since Daily DD would get tagged first in this situation. I can attempt to hit 12K profit level before day end to secure a 4 week extension. 16K appears far distant at this stage however I'm looking to set a uniform price target on a managed cluster of entries on EU and perhaps another symbol. Highest equity level reached was...
Mastermind, cant you get an extension at your current profit level?

I thought it was only FTMO out of the two that required a certain amount of profit for the extension.

My goal for these MFF evaluations is to go for the low hanging fruit (around 4%) and then If I only have say a week left, then let it run over for the extension.....unless im mistaken.

P.S i think your right, I did just see something in the discord saying that you need to be at least 75% to target before an extension if offered.

Thats sucks, im on an evaluation myself and was convinced that I could split it up into 2 x 4% targets.......ah well, is what it is i guess.
  • #6,849
  • Mar 10, 2022 1:46am Mar 10, 2022 1:46am
Quoting Paulscaff1
{quote} Mastermind, cant you get an extension at your current profit level? I thought it was only FTMO out of the two that required a certain amount of profit for the extension. My goal for these MFF evaluations is to go for the low hanging fruit (around 4%) and then If I only have say a week left, then let it run over for the extension.....unless im mistaken.
I recall reading on their discord that if 75% of the profit target was met and all trading objectives in tact then a 1 to 4 week extension could be granted.

The issue is that it is at their discretion meaning that they could offer no time extension, or anywhere from 1 to 4 weeks.

Since there is no guarantee then I'm looking to hit the 8% if the market stays on my side without any crazy pullbacks in PA.

If someone can confirm one way or the other regarding challenge extension conditions then I may very well tighten my stops.

Masterrmind ..........
Master your Mind then Master your Trades
  • #6,850
  • Mar 10, 2022 1:54am Mar 10, 2022 1:54am
Quoting Masterrmind
{quote} I recall reading on their discord that if 75% of the profit target was met and all trading objectives in tact then a 1 to 4 week extension could be granted. The issue is that it is at their discretion meaning that they could offer no time extension, or anywhere from 1 to 4 weeks. Since there is no guarantee then I'm looking to hit the 8% if the market stays on my side without any crazy pullbacks in PA. If someone can confirm one way or the other regarding challenge extension conditions then I may very well tighten my stops. Masterrmind .............
Thats wierd that there seems to be so many nuances in the rules with extensions. This kind of entertains my skepticism that they might use the "grey area" to cap off the amount of potential phase 1 passes.

I mean, lets say both of us make 6.1% and apply for an extension at roughly the same time.....why would you get 1 week, and I get 4 weeks, or vice versa?

Would be really good to know the ins and outs of this in order to strategize appropriately.
  • #6,851
  • Mar 10, 2022 1:58am Mar 10, 2022 1:58am
Quoting Masterrmind
{quote} I recall reading on their discord that if 75% of the profit target was met and all trading objectives in tact then a 1 to 4 week extension could be granted. The issue is that it is at their discretion meaning that they could offer no time extension, or anywhere from 1 to 4 weeks. Since there is no guarantee then I'm looking to hit the 8% if the market stays on my side without any crazy pullbacks in PA. If someone can confirm one way or the other regarding challenge extension conditions then I may very well tighten my stops. Masterrmind .............
I have no experience with extensions but FAQ in their Discord says this:

Quote
How do I request for an extension?
You can request an extension from your Dashboard, however the 'Extension' button will ONLY appear if your account meets ALL of the following criteria:
- Your account is a Phase 1 account.
- Your account balance must have at least 6% profit
- Your account is near the expiry date.
- Your account does not have any violations.
If your account is below 6% profit but it is above the initial balance, then you will need to send your extension request to [email protected]...
  • #6,852
  • Edited 2:40am Mar 10, 2022 2:07am | Edited 2:40am
Quoting Capablanca
{quote} I have no experience with extensions but FAQ in their Discord says this: {quote}
I missed that on the faq mate, I was probably scrolling through it too fast.

So basically if your under 6% then the discretion part will kick in.

So technically Mastermind could send them an email and possibly qualify at his current status. Would be good to know the reasons whether he would, or wouldnt qualify.

Fuk it, im gona query it on the discord.

*They removed my question and muted me for mentioning to too many admins will try again later.
  • #6,853
  • Edited 3:22am Mar 10, 2022 2:07am | Edited 3:22am
Quoting Paulscaff1
{quote} Thats wierd that there seems to be so many nuances in the rules with extensions. This kind of entertains my skepticism that they might use the "grey area" to cap off the amount of potential phase 1 passes. I mean, lets say both of us make 6.1% and apply for an extension at roughly the same time.....why would you get 1 week, and I get 4 weeks, or vice versa? Would be really good to know the ins and outs of this in order to strategize appropriately.

yes no idea why they leave so many confusion about there program, FTMO so far the transparent one. all the rules r straight forward.


Plz ask also that if they offer only 1 week of extension and trader don't want to go with that can he get retry as he not confident with 1 week extension helps or not,.


I'm muted on discord . So plz ask this also
  • #6,854
  • Mar 10, 2022 3:32am Mar 10, 2022 3:32am
Quoting inversio
{quote} yes no idea why they leave so many confusion about there program, FTMO so far the transparent one. all the rules r straight forward. Plz ask also that if they offer only 1 week of extension and trader don't want to go with that can he get retry as he not confident with 1 week extension helps or not,. I'm muted on discord . So plz ask this also
Yeah you can get a free retry anyway as long as your within the rules mate, this goes without saying. I know personally as ive had a metric ton of free retries

Its the extension rules that are a bit grey.
  • #6,855
  • Mar 10, 2022 3:33am Mar 10, 2022 3:33am
Quoting Capablanca
{quote} I have no experience with extensions but FAQ in their Discord says this: {quote}
Yes it is as I thought.

75% is 6/8.

So 2 days ago I was at close to 5.5% but then had a 0.8% dip yesterday and with this being the last day of the challenge a decision had to be made.

It's looking very much like a repeat for this challenge and I'm ok with that!

Masterrmind ............
Master your Mind then Master your Trades
  • #6,856
  • Mar 10, 2022 3:37am Mar 10, 2022 3:37am
Quoting Masterrmind
{quote} Yes it is as I thought. 75% is 6/8. So 2 days ago I was at close to 5.5% but then had a 0.8% dip yesterday and with this being the last day of the challenge a decision had to be made. It's looking very much like a repeat for this challenge and I'm ok with that! Masterrmind ............
Its not though mate, you have to be at 75%+ for the "button" to appear.

Less than 75%/ -6%, then you have to send them an email.

It could have been a possibility that you could have started a new 30 days with a 5.5% head start.

Although I shouldnt be having to use the word possibility, this is what we need to clear up.
  • #6,857
  • Edited 3:54am Mar 10, 2022 3:42am | Edited 3:54am
Quoting Paulscaff1
{quote} Yeah you can get a free retry anyway as long as your within the rules mate, this goes without saying. I know personally as ive had a metric ton of free retries Its the extension rules that are a bit grey.
Yes I know that they offer unlimited free retries, but my point is if any one asked for extension and get only one week but he is not confident that within one week he can complete, so is it possible to increase the time limit, or he can go for retries by denying 1 week extension.

As they have so many hidden rules, want to know after getting 1 week extension is it possible to cancel that extension and go for new try

As far I know they offer only one extension so it's critical to go for that or not. if they don't offer enough time can it be cancelled and go back to retries , this is what Im looking for.
  • #6,858
  • Mar 10, 2022 3:50am Mar 10, 2022 3:50am
Quoting inversio
{quote} Yes I know that they offer unlimited free retries, but my point is if any one asked for extension and get only one week but he is not confident that within one week he can complete, so is it possible to increase the time limit, or he can go for retries by denying 1 week extension. As they have so many hidden rules, want to know after getting 1 week extension is it possible to cancel that extension and go for new try
Ahh, I see what you mean.

So your expecting/hoping for 30 days but they hit you with 1 week.

Thats a good question, If I was in that position then I would tell them to ram the 7 days and change my mind for a free retry, (depending on my current stats obviously).

These grey areas are starting to annoy me.
  • #6,859
  • Mar 10, 2022 4:03am Mar 10, 2022 4:03am
Update.

Got a little bit more clarity on this:
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  • #6,860
  • Mar 10, 2022 4:24am Mar 10, 2022 4:24am
And now, slightly less clarity.

(Im assuming this guy is an MFF admin with the "dm is allowed" thing. But he could just be some random guy)
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