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  • #7,941
  • May 15, 2022 11:35pm May 15, 2022 11:35pm
Quoting pipmaster77
{quote} I sure would feel more comfortable if it were FTMO or MFF offering a 500K or 1 million. IMO, too large of an investment to a company(ies) who nobody has used or been paid from. What first jumps out at XL Trade, is having to do 10% TWICE vs. a 10/5 or 8/5 model and then to have to do it with 5% DD. They are not asking you to earn 67% or even flip the account, THEY ARE ASKING FOR 200% 2 MONTHS IN A ROW!!!!!! There are two extreme approaches to the props.... 1. Start small and reinvest profits (lowest risk and lengthy time to get to 7 figures)....
Thanks for chipping in pipmaster77.

Yes definitely feel better if it were the top 2 dogs in this space.

Unfortunately it is not.

It's just another angle I'm presenting here, such that only the 1 evaluation or yes let's say 2 evaluations are needed to hit the $1M funded account.

Yes always keep the personal account humming along.

Certainly not at making a decision on some of these big challenges yet but I am very interested, perhaps more so in the $500K challenge but I have not exhausted the pool of offerings just yet there must be others out there.

Masterrmind ..........
Master your Mind then Master your Trades
  • #7,942
  • May 15, 2022 11:44pm May 15, 2022 11:44pm
Quoting Eren10
{quote} If you have 80K start your own prop trading firm, and get the money from the people by fees you will get more easier richer I think
Prop Firm Model on the backburner for now but you certainly need coin far north of $80,000 to make a good go at it.

Website team and think tank for new ideas etc.

Customer service team that functions with intelligence and total courtesy.

Funding Model that is a win win for both sides.

Marketing team with innovative ideas and dynamic approach.

Risk management team and back office support for data analysis etc etc.

Regulation and compliance if applicable.

Huge funds to support all teams.

...
...

And yes the list goes on and on.

But the idea is there !

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,943
  • May 16, 2022 4:01am May 16, 2022 4:01am
As regards to the larger challenges such as $500K and $1M my burning preference is one such that the duration allotted by the firm to hit the target is as long as possible.

What pipmaster77 said about XLTrade is correct however, some of the other firms I listed in a previous post have much longer durations.

Nevertheless, some firms that have longer durations unfortunately also have very tight DD trading bands such as 4% to 5% on daily DD and similarly for an overall trailing DD.

From the traders perspective a trailing DD is very restrictive and it doesn't allow for much of a fall from grace.

Although traders can start from a smaller challenge and eventually get funded and then use some profit split to attempt additional challenges I see this as acceptable however, think about all the additional times you have to have good fortune on your side and how many times you would have to take these smaller challenges in the hope of building the funded accounts up to say $500K or more.

It isn't easy to pass one challenge and progress all the way through to funded status once let alone say 6 times or more based on small challenge sizes.

I'm looking at it from the view where I'd attempt not more than 2 to 3 challenges on the $500K account or maybe once on a $1M challenge and if I failed it, walk away and retry the $100K or $200K challenges.

Obviously, the choice does not come easy since at this stage I have little idea as to how well these larger challenge firms are paying out.

So there is still much research to be done.

ps. I still agree that the majority of challenges should be undertaken at MFF or FTMO because we know they pay traders .

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,944
  • May 16, 2022 6:00am May 16, 2022 6:00am
Well I have checked with The Funded Trader about their Crypto discount.

They don't accept Tether but do accept USDC. However, only through ERC-20 network. And it costs minimum $65 fee to use ERC-20!

So it looks like one would have to use Bitcoin or Ethereum. Just make sure you buy the Bitcoin when the price is rising I suppose
  • #7,945
  • May 16, 2022 7:30am May 16, 2022 7:30am
Quick update on my FundedNext journey.

Passed Phase 2 today on the 10th day (which also happens to be my birthday). Need to get verified to be given the live 15K account. Refund and 15% of demo profits to be received with first profit-split.

Keeping my fingers crossed that trading will be smoother once real money is on the line...
Amor Fati--F. Nietzsche
  • #7,946
  • May 16, 2022 7:54am May 16, 2022 7:54am
Quoting Mtinifx
Well I have checked with The Funded Trader about their Crypto discount. They don't accept Tether but do accept USDC. However, only through ERC-20 network. And it costs minimum $65 fee to use ERC-20! So it looks like one would have to use Bitcoin or Ethereum. Just make sure you buy the Bitcoin when the price is rising I suppose
What discount? Don't see any discount sir.
  • #7,947
  • May 16, 2022 8:57am May 16, 2022 8:57am
Quoting doji
Quick update on my FundedNext journey. Passed Phase 2 today on the 10th day (which also happens to be my birthday). Need to get verified to be given the live 15K account. Refund and 15% of demo profits to be received with first profit-split. Keeping my fingers crossed that trading will be smoother once real money is on the line...
Happy Birthday!
  • #7,948
  • May 16, 2022 1:28pm May 16, 2022 1:28pm
E8Funding update, good to see ! Will have a closer look on their new spreads soon.

'Reducing Spreads!
We have now scheduled a release of our enhanced spreads, where you will see a 60-80% reduction on spreads on all trading pairs by the effect of this day midnight.
Accounts Extras!
We have also heard many requests for account extensions, and we are now happy to announce that this feature is active. Below are the details on how to achieve a free 14-day extension on your evaluation:
-Account Closed Balance must be at or above 4%
-Time expiration must be at four days or less'
  • #7,949
  • May 16, 2022 1:32pm May 16, 2022 1:32pm
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!?
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  • #7,950
  • May 16, 2022 1:45pm May 16, 2022 1:45pm
Quoting mizi123
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!?
-Personally, I feel that it is a reasonable trade-off. I would rather be able to secure capital quickly, with higher targets, than to have to trade on a demo account for 6 to 12 months in order to prove myself.

That being said, I do not disagree, in that most of the current targets are excessive and even reckless. If remote firms would be willing to decrease the targets (some of them have), without compromising on other trader-benefits, then I am all for that.

For now, they will continue to advertise a 10% target, even though we know what that really means. No matter how you slice it, though, there has never been a better time in history to be a trader.
  • #7,951
  • May 16, 2022 1:49pm May 16, 2022 1:49pm
Quoting mizi123
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!? {image}
What kind of info is this ?

Is this relevant here to motivate prop traders ?

Or you posted this to as different reason ?

Did i miss to read something in your post ?

I guess this is something like.....only 5 % traders win in forex trading.
Intraday only.
  • #7,952
  • May 16, 2022 1:51pm May 16, 2022 1:51pm
Quoting mizi123
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!? {image}
imho, there s 1 tiny thing that s left out. u don t have to risk a lot in order to make nice money when trading milions(funds, banks, investors with large pockets etc). hence 30% per year looks small. they are risk adverse, portofolio managers and so on, not allowed more then x% pr trade. u can t really compare a fund with retail traders. even a professional that quits his trading desk at a bank for instance, will have a different risk when managing his own money.
  • #7,953
  • May 16, 2022 1:52pm May 16, 2022 1:52pm
Sharing my experience with E8 Funding.

Back in mid-April, I purchased a 25K standard evaluation.

I received my credentials instantly. Passed Phase 1 and received my phase 2 credentials in about 6 hours. Passed phase 2 and got an immediate congratulatory email. About 30 minutes later I got an email with a link to sign my contract/upload ID. Only had to upload my license. The contract was basically clickable so all you had to do was fill it out and click agree. No downloading or rescanning or dealing with a PDF.

About 2 hours later I got an email with my funded credentials saying my I was verified. Wow, well played E8. Also, this blurb was in that email:

"After 8 days, you are eligible to withdraw 80% of your profit and qualify for E8 Scaling. You will keep your current balance even after your withdrawal and increase your overall drawdown parameters. Keep in mind that we award consistency! Every successful withdrawal increases your initial deposit drawdown by 1% all the way up to 14%"

Unfortunately, I can't comment on the payout experience because, well, uh, ah, my account went up in

In addition, I received this email today in regards to a reduction in spreads, time extensions, and an upgraded dashboard with leaderboard metrics.


Hello Kurt,

In observance of your collective requests and to provide you with a better trading experience, we have some exciting announcements and updates to share with you today.
Reducing Spreads!
We have now scheduled a release of our enhanced spreads, where you will see a 60-80% reduction on spreads on all trading pairs by the effect of this day midnight.
Accounts Extras!
We have also heard many requests for account extensions, and we are now happy to announce that this feature is active. Below are the details on how to achieve a free 14-day extension on your evaluation:
-Account Closed Balance must be at or above 4%
-Time expiration must be at four days or less
E8X V3.0 Update!
At E8, we firmly believe that traders should enjoy a seamless experience, and we are constantly developing to improve everything within the E8 ecosystem.
You will additionally see an updated and redesigned dashboard, including some exciting new features, including a completely new and never before seen leaderboard with some fun metrics to track some of our highest performing traders.
We hope that these updates enhance your trading experience with E8 and as always, thank you for trading with us.

Best Regards,
E8Funding.com

Overall, an excellent experience with no issues. A bit pricey in comparison to MFF but definitely on my top 5 list. I VILL be back!!! (Arnold Schwarzenegger accent included)
Pride always comes before destruction.... -Proverbs 16:18
  • #7,954
  • May 16, 2022 1:54pm May 16, 2022 1:54pm
Nsaky have understood my intention ...
  • #7,955
  • May 16, 2022 1:56pm May 16, 2022 1:56pm
well said.

An individual can loose few thousands.

A prop trader at the best looses fee.

So the risk tolerance is high.

An Institutional traders risk tolerance is much much less as he is risking Institution money.

An apple can not be compared to orange.
Intraday only.
  • #7,956
  • Edited 3:31pm May 16, 2022 2:14pm | Edited 3:31pm
Quoting mizi123
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!? {image}
3 things to add here.
First, dealing with (multi-)billions is a different story. There are many good strategies but cannot be scaled to that size.
Second, they went all public, I guess most (FX) traders prefer to be non-public (e.g. reason one, too much scaling is not favorable, just get your own max profit)
Third, one must see risk-adusted numbers, return is not everything. That does not mean one can pass a challenge, because you need to control your risk. It is different to do 100% return per year with 50% Drawdown or only 5%, so you need to have a closer look. By the way, your list is either not totally correct as I know nor complete.
  • #7,957
  • May 16, 2022 4:05pm May 16, 2022 4:05pm
A good brief video about the challenges on prop firm why there are.
Inserted Video

In my eyes some more advantages of prop firms are also goal setting and exercising discipline except the additional capital you get here when passed and get funded.
Inserted Video

The above video I also find useful, because that is exactly what I also found out. It is too difficult to pass challenge for sure when you are going back for too many years.
  • #7,958
  • May 16, 2022 11:11pm May 16, 2022 11:11pm
Quoting mizi123
I hope prop clones gona see these, and i hope also to make so adjustments to their programes!? {image}
What's not shown in this list is the DD used to produce these results.

Or what their SR value is !

Nice list all the same.

Masterrmind ............
Master your Mind then Master your Trades
  • #7,959
  • Edited 4:39am May 17, 2022 4:27am | Edited 4:39am
Now spreads are really good for E8Funding and that is all without any commissions ! I will join with them soon, there are also discount coupons available for them.
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  • #7,960
  • May 17, 2022 4:53am May 17, 2022 4:53am
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