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  • #13,421
  • Jan 8, 2023 9:47am Jan 8, 2023 9:47am
Quoting Fagin
{quote} You would just have a no weekend trading rule. All close Friday night. That’d sort it?
Yes but you will find that will kill your sales as a prop firm. I don't see a corporate positive for firms offering limitless time.
  • #13,422
  • Jan 8, 2023 11:27am Jan 8, 2023 11:27am
Quoting Takisd
No limit programs are a massive mistake. With a 100k+ account and 0.01 lot trades i can grid my way to a live account if i am given enough time. It will clog servers with stupid accounts and then on live more useless accounts of people who do not have any talent at all.
Why do you equate No limit with stupid accounts and people who do not have any talent at all?
To me it is exactly the other way around.
  • #13,423
  • Jan 8, 2023 11:36am Jan 8, 2023 11:36am
Time limits undoubtedly help turnover rates. Maybe it is not needed, as mentioned.

I suppose that there are different ways that a firm could approach it. One way would be to offer refunds only if the challenge is completed within a specific time frame. Maybe such a compromise could be a win-win for everyone involved.
  • #13,424
  • Jan 8, 2023 1:04pm Jan 8, 2023 1:04pm
Quoting mixedbags
{quote} I suggest you go with Evaluation - MFF. Else just read through the thread from page 423 to the post above me to understand for yourself why.
are you still trading my turtle trading strategy!!!
  • #13,425
  • Jan 9, 2023 12:35am Jan 9, 2023 12:35am
Quoting mizi123
{quote} Mann they don't go anywere they have removed minimum/maximum trading days for completing challange, did you understand !!! {image}
They continue to do things quietly and very well. The day they put their DD at 10% they will probably become future leaders
  • #13,426
  • Jan 9, 2023 4:09am Jan 9, 2023 4:09am
300K phase1 complete, onto the second phase fingers crossed
MFF
Pip Student
  • #13,427
  • Jan 9, 2023 5:46am Jan 9, 2023 5:46am
Quoting JustAVisit
{quote} Howdie, what I am missing here? Its 5% daily drawdown just like the other top challenge firms. Reply pertaining to ofpfunding.
You can get 8% or even 12 % with competitor. 5% is too low - when you are forced to continually make 10% profit or more on the account in order to get scaled up, etc.

At least with Evaluation models you only have to make 10% (or 8%) once. You also can get a whole lot more DD buffer for your money for the same price or even much less then instant funded. When you are funded you get 80% to 90% split whereas with instant funded you only get 50%. There is no comparison
  • #13,428
  • Jan 9, 2023 6:29am Jan 9, 2023 6:29am
I want to do 5% monthly I dont like need to push risk up more to pass phase 1. I can understand why they do it though...but you kind of need to game faces. One to pass. To then take a step back and probs cut the risk at least by half to what you used to pass in the first place.



Quoting Bizziebee
{quote} You can get 8% or even 12 % with competitor. 5% is too low - when you are forced to continually make 10% profit or more on the account in order to get scaled up, etc. At least with Evaluation models you only have to make 10% (or 8%) once. You also can get a whole lot more DD buffer for your money for the same price or even much less then instant funded. When you are funded you get 80% to 90% split whereas with instant funded you only get 50%. There is no comparison
Pip Student
  • #13,429
  • Jan 9, 2023 7:46am Jan 9, 2023 7:46am
Quoting apples1978
I want to do 5% monthly I dont like need to push risk up more to pass phase 1. I can understand why they do it though...but you kind of need to game faces. One to pass. To then take a step back and probs cut the risk at least by half to what you used to pass in the first place. {quote}
Absolutely correct. Once you are funded, trade the account based on the max loss. If you have a 300K with MFF, max loss is 36K.....trade it like a 36K personal account, whatever you would normally risk....1,2,3%, apply it to the DD not the equity........you should never lose the account.
Passing the stage 1.......different approach. Depends on the firm, MFF essentially gives you 58 days with extension......stage 2, 5% in 60 days with all firms, you can pretty much trade as you would the funded account.
  • #13,430
  • Jan 9, 2023 10:14am Jan 9, 2023 10:14am
Quoting pipmaster77
{quote} Absolutely correct. Once you are funded, trade the account based on the max loss. If you have a 300K with MFF, max loss is 36K.....trade it like a 36K personal account, whatever you would normally risk....1,2,3%, apply it to the DD not the equity........you should never lose the account. Passing the stage 1.......different approach. Depends on the firm, MFF essentially gives you 58 days with extension......stage 2, 5% in 60 days with all firms, you can pretty much trade as you would the funded account.
I look at the results of many traders and in my own experience too, I think that prop trading is not suitable for scalpers. Swing traders will do better because they open far fewer trades for much bigger reward. The secret is to trade less to make more. It's my view but I think it's the way to go
  • #13,431
  • Jan 9, 2023 11:39am Jan 9, 2023 11:39am
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  • #13,432
  • Jan 9, 2023 12:16pm Jan 9, 2023 12:16pm
Quoting pipmaster77
{quote} Absolutely correct. Once you are funded, trade the account based on the max loss. If you have a 300K with MFF, max loss is 36K.....trade it like a 36K personal account, whatever you would normally risk....1,2,3%, apply it to the DD not the equity........you should never lose the account. Passing the stage 1.......different approach. Depends on the firm, MFF essentially gives you 58 days with extension......stage 2, 5% in 60 days with all firms, you can pretty much trade as you would the funded account.
Hi pipmaster77

Would you mind explaining a little more what you mean please?

i.e. you have a funded 300K USD account, your max loss is 36k, and you want to risk 1%. So you risk 360 USD?

Sorry for being a bit dumb, but could you explain a little more please?

Thanks very much.
  • #13,433
  • Jan 9, 2023 3:15pm Jan 9, 2023 3:15pm
Quoting amandajc
{quote} Hi pipmaster77 Would you mind explaining a little more what you mean please? i.e. you have a funded 300K USD account, your max loss is 36k, and you want to risk 1%. So you risk 360 USD? Sorry for being a bit dumb, but could you explain a little more please? Thanks very much.
Several ways to approach.......I am more of a swing trader, so I enter multiple trades (4-6) which comprise 1 position, risk is dependent on where the entry is in relation to my stops. 3% for the entire position would be my max risk. You can also risk up to 5% per trade or position as that still allows 10 losses before violating daily DD and 20 losses for max DD.
Here is the key, when account is in profit, you can SLIGHTLY increase risk, I say slightly due to the max daily DD will always remain constant.
The bigger key.......when account is in DD, the 3%,5% or whatever you are risking, MUST BE ADJUSTED to the DD remaining.....in this manner, DD should never get out of control, if it is always 5% of remaining DD, you always have a risk of ruin of 20 losses. The deeper in DD, the longer the recovery, but it beats paying for and having to complete a challenge again.
  • #13,434
  • Jan 9, 2023 4:41pm Jan 9, 2023 4:41pm
Quoting pipmaster77
Exactly. You need to trade very small lot size based on the DD allowed, 1% of DD allowed is equal to 1% of your ENTIRE personal account.
Good point. Do you have some general advice on building a risk management plan when trying to pass a regular challenge account like the one offered by FTMO with a 5% daily and 10% maximal drawdown.

I so far always tried risking about 0.3-1% per trade while limiting myself to a maximum of 3 trades per day but having a hard time ever reaching it to a 10% profit target on time during the first 30 days available (20-22 active trading days).

I do only trade GBP/USD and nothing else.
  • #13,435
  • Jan 9, 2023 6:32pm Jan 9, 2023 6:32pm
Anyone know what type of trading strategy that this person is using.

I was just going through TFT competition for this month and the person called "IBOU-NIAMBY" (on 2nd in leaderboard) strategy seems to be very effective, he buys and sells within second, sometimes immediately.

https://leaderboard.thefundedtraderp...leaderboard/17

Is that tick trading?
  • #13,436
  • Jan 9, 2023 11:50pm Jan 9, 2023 11:50pm
Quoting sheva89
Anyone know what type of trading strategy that this person is using. I was just going through TFT competition for this month and the person called "IBOU-NIAMBY" (on 2nd in leaderboard) strategy seems to be very effective, he buys and sells within second, sometimes immediately. https://leaderboard.thefundedtraderp...leaderboard/17 Is that tick trading?
Its arbitrage prob.
  • #13,437
  • Jan 10, 2023 2:06am Jan 10, 2023 2:06am
Quoting mizi123
{quote} Mann they don't go anywere they have removed minimum/maximum trading days for completing challange, did you understand !!! {image}
Am I seeing correctly or did myforexfunds.com used to have time limit. Because I no longer see time limit for completing the 2 step challenge.
https://myforexfunds.com/accounts/evaluation/
Survival intelligence is more important than entry intelligence
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  • #13,438
  • Jan 10, 2023 2:13am Jan 10, 2023 2:13am
Quoting elemiliman
{quote} Am I seeing correctly or did myforexfunds.com used to have time limit. Because I no longer see time limit for completing the 2 step challenge. https://myforexfunds.com/accounts/evaluation/
Yes they do have 5 minimum and 30 day max days for challange and 5/60 verification, when you logon on on your account.
  • #13,439
  • Jan 10, 2023 2:21am Jan 10, 2023 2:21am
Quoting elemiliman
{quote} Am I seeing correctly or did myforexfunds.com used to have time limit. Because I no longer see time limit for completing the 2 step challenge. https://myforexfunds.com/accounts/evaluation/
Here it is i was in hurry in previous post for they who want to fail they have 5 days
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  • #13,440
  • Jan 10, 2023 2:34am Jan 10, 2023 2:34am
Quoting mizi123
{quote} Here it is i was in hurry in previous post for they who want to fail they have 5 days {image}
So that awesome no more time limit.
Survival intelligence is more important than entry intelligence
AAMS Trinity Engine Return This Month: 0.2%
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