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  • #12,581
  • Nov 22, 2022 7:46am Nov 22, 2022 7:46am
Quoting forexbali
I continue to train myself of 1:3 risk reward ratio trades. Is going better already with 4H charts. Unique problem, all the programs with a mandatory stop loss... are a shit. Because at 22:59 close the broker will stop you even at 50-100 pips far when they enlarge spreads... so, for this technique absolutely remove all the stops at 22:45 and put on again at 01:00 so in few words, don't sleep in these 2 hours. There is an EA can do this job? to remove stop losses based on the time you set? {image}
First better is not to trade overnight, because most firms will measure you on equity or balance whichever is higher around NY Fixing. Second, not on all props are EAs allowed too, so in that case it would be also better to manually enter and delete any stoplosses. Of course having tight stops going over NY Fixing or overnight is no go.
  • #12,582
  • Nov 22, 2022 8:10am Nov 22, 2022 8:10am
But this technique is with low leverage, the balance should not be a problem, is to make a 1-2% per month with almost no risk.
in holiday till end of November
  • #12,583
  • Nov 22, 2022 8:13am Nov 22, 2022 8:13am
Quoting Eren10
{quote} I you have the capital there is not much reason to go with a prop firm. I chose MFF because of 8% target and extension possibility. Next time maybe I will try another, which doesn't have own trading software.
Have to disagree. Whether you have the capital or not, prop firm gives way more value dollar for dollar. MFF, for example, pay $979, minimum 5% discount, so $930. Once funded, you have 200K account with 24K DD, with initial 75% split is equivalent to 18K, with 90% it is $21.6K. This is 19-25x the money you laid out.
Even when factoring in making 8% with 12% DD (67% in real terms) and then 5% with 12% in phase 2 (41% in real terms), your $930 would become $2189, so you are still looking at 8-10 times your money. Not to mention, fee is refunded.
Now put a factor of 10 on that where you invest $9300 and you get 180K-216K in DD. This is allowable loss, not the fake equity amount. Of course, if you just reinvest profits, you do not actually lay out the $9300 and then the compounding is exponential over a personal account.
So even if you have a 500K+ personal account, why not trade an additional 200K with an investment of 1/10th that amount?
The other point, is we seem to be forgetting most brokers(90%) are on THE OTHER SIDE of your trade. They have just as much, if not more, of an interest in you losing than these prop firms do.
  • #12,584
  • Nov 22, 2022 8:16am Nov 22, 2022 8:16am
Quoting forexbali
But this technique is with low leverage, the balance should not be a problem, is to make a 1-2% per month with almost no risk.
If you are using low risk/low leverage, you SHOULD never have an issue with slippage, rollover, payouts.......any of it.
  • #12,585
  • Nov 22, 2022 8:19am Nov 22, 2022 8:19am
Quoting pipmaster77
{quote} If you are using low risk/low leverage, you SHOULD never have an issue with slippage, rollover, payouts.......any of it.
yes that's correct, but as I said the problem are the programs with an obligatory stop loss always in the market.

So at the close... brokers will cheat with large spread and take you out.

That's I'm thinking not to use a program with a stop loss always required.
in holiday till end of November
  • #12,586
  • Nov 22, 2022 8:42am Nov 22, 2022 8:42am
Quoting forexbali
{quote} yes that's correct, but as I said the problem are the programs with an obligatory stop loss always in the market. So at the close... brokers will cheat with large spread and take you out. That's I'm thinking not to use a program with a stop loss always required.
I use MFF,FTMO, TFF, TFTP.........no obligatory stop loss with any of them.
  • #12,587
  • Nov 22, 2022 8:50am Nov 22, 2022 8:50am
For those looking for any MFF discounts I got this today.
Attached Image (click to enlarge)
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Truth is like poetry. And most people f*cking hate poetry.
  • #12,588
  • Nov 22, 2022 9:32am Nov 22, 2022 9:32am
Quoting forexbali
I continue to train myself of 1:3 risk reward ratio trades. Is going better already with 4H charts. Unique problem, all the programs with a mandatory stop loss... are a shit. Because at 22:59 close the broker will stop you even at 50-100 pips far when they enlarge spreads... so, for this technique absolutely remove all the stops at 22:45 and put on again at 01:00 so in few words, don't sleep in these 2 hours. There is an EA can do this job? to remove stop losses based on the time you set? {image}
I can make one for MT4 if you want. I don't develop in Ctrader but I don't think it would be too complicated either.
  • #12,589
  • Nov 22, 2022 9:41am Nov 22, 2022 9:41am
Quoting Sangui
{quote} I can make one for MT4 if you want. I don't develop in Ctrader but I don't think it would be too complicated either.
I use only MT5 or TradingView. However for sure there is some available on market, to test it.
in holiday till end of November
  • #12,590
  • Nov 22, 2022 1:53pm Nov 22, 2022 1:53pm
Quoting pipmaster77
{quote} Have to disagree. Whether you have the capital or not, prop firm gives way more value dollar for dollar. MFF, for example, pay $979, minimum 5% discount, so $930. Once funded, you have 200K account with 24K DD, with initial 75% split is equivalent to 18K, with 90% it is $21.6K. This is 19-25x the money you laid out. Even when factoring in making 8% with 12% DD (67% in real terms) and then 5% with 12% in phase 2 (41% in real terms), your $930 would become $2189, so you are still looking at 8-10 times your money. Not to mention, fee is refunded....

Depends on how much money you have and passing the tests is also not that easy.

If you perform the prop targets with your own money you will go from 10 K to about 25 K. This amount could be very satisfying and enough for trading.


If you can pass the evaluation more easily I can see the benefit of prop account. At least for the situations where you want to trade with larger lot sizes.
  • #12,591
  • Nov 22, 2022 3:03pm Nov 22, 2022 3:03pm
Yes, for the majority of retail traders, trading with a prop firm is a no-brainer. The few exceptions to this are those that manage enough capital that investing the time is simply not worth it. The other, being those that cannot pass the challenges.

The advantage is more than just monetary. When you can remove risk from the equation, the psychological advantages are difficult to measure or even realize sometimes. The potential for growth is simply difficult to match because your ability and willingness to take on bigger risk is indisputable and can be easily repeated.

You can achieve this with your own capital, but it takes longer. Simply put.
  • #12,592
  • Edited 4:34pm Nov 22, 2022 4:14pm | Edited 4:34pm
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It can be exactly measured from math point. You need to pass the prop challenge with a certain percentage in average, otherwise it does not make sense to participate in challenges here. So this is the lower boundary. But there is also an upper limit, which is even lower when you take in tax disadvantages especially from some high tax countries like Germany for example, where when you RRR is something about 2:1 per month, it starts to make sense to trade on personal account only. It's pure math.
  • #12,593
  • Nov 22, 2022 6:45pm Nov 22, 2022 6:45pm
Hey guys, I was going to post this on the FTMO thread but things seems more active here and could be useful info for someone else. I have been trading with FTMO for about 5 months now, I was just wondering if anyone else has experienced a delay in their payment before, or in recent times. For my first 9 or so payments they've been super speedy, within 12 hours generally, from request to approval, and the money in the bank the next day. Last week I submitted the request as per usual but the invoices have just sat there waiting for over a week now which is kind of shift from the normal times to expect. I've had a couple of goes at the live chat to see if I could validate any timelines or issues but the answers haven't been particularly useful, mainly around thanking me for my patience (which I must admit I could work on hehe!). I know one week isn't that long of a time. Just curious if anyone else has experienced similar. The live chat were super friendly but perhaps not able to answer without some reference to forwarding to other departments of which I am yet to hear from. I can't help but feel a little lost when anticipating payment and left without a clear answer.

Either way, I'll update you once I have more info.
  • #12,594
  • Nov 22, 2022 7:12pm Nov 22, 2022 7:12pm
Quoting Causation
Hey guys, I was going to post this on the FTMO thread but things seems more active here and could be useful info for someone else. I have been trading with FTMO for about 5 months now, I was just wondering if anyone else has experienced a delay in their payment before, or in recent times. For my first 9 or so payments they've been super speedy, within 12 hours generally, from request to approval, and the money in the bank the next day. Last week I submitted the request as per usual but the invoices have just sat there waiting for over a week now...
Uh-oh. When combined with other developments the past week or so......
  • #12,595
  • Nov 22, 2022 7:46pm Nov 22, 2022 7:46pm
Quoting tradealltime
{quote} Any guess about black friday offer by any of these firms, (ftmo)
Hey, I currently have a collection of all the black Friday promotions I can find.

Black Friday Prop Firm Promotions - Prop Traders Club

There are currently 12 firms on there but unfortunately, I haven't heard anything from FTMO.
  • #12,596
  • Nov 22, 2022 7:57pm Nov 22, 2022 7:57pm
Quoting TrAndy1
{image}It can be exactly measured from math point. You need to pass the prop challenge with a certain percentage in average, otherwise it does not make sense to participate in challenges here. So this is the lower boundary. But there is also an upper limit, which is even lower when you take in tax disadvantages especially from some high tax countries like Germany for example, where when you RRR is something about 2:1 per month, it starts to make sense to trade on personal account only. It's pure math.
Any one here has experience with first class forex funds ?

Your rating is 2nd.
Intraday only.
  • #12,597
  • Nov 22, 2022 8:24pm Nov 22, 2022 8:24pm
Quoting Causation
I know one week isn't that long of a time.
-This is, by no means, an effort to defend FTMO, but in my other businesses, 30-days and sometimes even 60-days, are normal for invoice terms.

Depends on the nature of the business, I suppose.
  • #12,598
  • Edited 8:55pm Nov 22, 2022 8:43pm | Edited 8:55pm
Quoting Nsak3y
{quote}-This is, by no means, an effort to defend FTMO, but in my other businesses, 30-days and sometimes even 60-days, are normal for invoice terms. Depends on the nature of the business, I suppose.
Absolutely, 30 days is very common in payout terms for general business where I am from. By no means did I intend to be unfair on expectations, as I only had the past few months of expedited payouts to compare to, I just need to update my expectations and to be patient, that will probably help my trading too!

I could probably sing praises for days about FTMO otherwise. I was fortunate enough to qualify for scaling last week as well, that process is so streamlined it was as easy as a few clicks during payout. I ran into a small issue with my scaled account having a slightly different balance than expected and I received personalized support which resolved that issue in less than a day. Really satisfied with that level of support. The lines of communication for that issue and next steps were very concise and clear about what would happen and that I would hear back asap.
  • #12,599
  • Nov 22, 2022 8:53pm Nov 22, 2022 8:53pm
Quoting Causation
{quote} Absolutely, 30 days is very common in payout terms for general business where I am from. By no means did I intend to be alarmist, as I only had the past few months of expedited payouts to compare to, I just need to update my expectations and to be patient, that will probably help my trading too!
It's not the norm when the norm is normally 12 hours. They are advertising rapid payouts not waiting for a week for payouts. Something is going on with FTMO. I am not the guy who is normally an alarmist, I am normally the one being accused of being too much of an advocate for FTMO, but, they have not posted in their thread for weeks, a very credible source on this thread knows some big players denied their last payouts and you are waiting a week for something you normally receive in 12 hours......It sure seems like some cash flow issues.
  • #12,600
  • Nov 22, 2022 8:58pm Nov 22, 2022 8:58pm
Quoting pipmaster77
{quote} It sure seems like some cash flow issues.
I guess all we can do is wait and see. If that were the case it would further reinforce about the importance of diversification across multiple props to make it worth our while.
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