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  • #15,761
  • May 18, 2023 8:43am May 18, 2023 8:43am
Trading activities that are used to take advantage of the inefficiencies of Metatrader. Gap trading, latency arbitrage, Long short arbitrage, Reverse arbitrage, opposite account trading are all unacceptable trading methods with MyForexFunds. Anyone part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool. Repeat offences will result in account termination.
  • #15,762
  • May 18, 2023 8:43am May 18, 2023 8:43am
Quoting pipmaster77
When you are either a. failing the challenge or b. blowing your live account
-Pretty much. And this is kind of the point, and also why trying to get any reasonable answer from FTMO about it is probably a waste of time.

It is understandable why FTMO should clarify their rules, but at the same time, all of this talk of acceptable behavior is mostly nonsense if we recognize the reality of what we are dealing with.

Because at the end of the day, we can keep complaining that things aren't perfect, or, we can accept that the benefit of the opportunity still outweighs the trade-offs of working at the circus.

Best thing to do is to be a good little boy/girl and learn to work within the rules without drawing any attention to yourself; maximize your allocations at as many reputable firms as possible and diversify your profits into other investments... preferably ones where your money will work for you, where your assets will appreciate in value and/or various tax-reduction avenues etc..
  • #15,763
  • May 18, 2023 8:47am May 18, 2023 8:47am
Quoting 1odi
say a trader has 2 funded accounts at 2 different prop firms. in 1 account goes only long and on the other only short in same time. i don t understand what the issues is.
-It is prohibited at every firm that I know of, and even if it is not explicitly stated, it is constituted as gambling.
  • #15,764
  • May 18, 2023 8:56am May 18, 2023 8:56am
Quoting Boulder
Trading activities that are used to take advantage of the inefficiencies of Metatrader. Gap trading, latency arbitrage, Long short arbitrage, Reverse arbitrage, opposite account trading are all unacceptable trading methods with MyForexFunds. Anyone part-taking in such activities will have their trades adjusted to the executed fill price that we have received from the liquidity pool. Repeat offences will result in account termination.
opposite account trading... 1) how would they prove that? 2nd how is that taking advantage? such BS lol. u can do what u want on the funded account, right? as long as ur not taking advantage of the delayed data feed or whatnot, i don t see how that could be an issue. u hedge ur bets in the end, right? u can do hedging on ur personal account as well and no1 says 1 thing. anyway, that s just how i view things. i ain t saying i m all for that as 1 for 1 wouldn t hedge like that but still..
  • #15,765
  • May 18, 2023 9:00am May 18, 2023 9:00am
Quoting 1odi
{quote} opposite account trading... 1) how would they prove that? 2nd how is that taking advantage? such BS lol. u can do what u want on the funded account, right? as long as ur not taking advantage of the delayed data feed or whatnot, i don t see how that could be an issue. u hedge ur bets in the end, right? u can do hedging on ur personal account as well and no1 says 1 thing. anyway, that s just how i view things. i ain t saying i m all for that as 1 for 1 wouldn t hedge like that but still..
Those words are from https://myforexfunds.com/evaluation/
Rule #03
Trading Behavior
  • #15,766
  • May 18, 2023 9:01am May 18, 2023 9:01am
Quoting Nsak3y
{quote}-It is prohibited at every firm that I know of, and even if it is not explicitly stated, it is constituted as gambling.
newsflash> 2 stage challenge and verification is a GAMBLING model by design!!! they want to attract gamblers, not risk managers. otherwise they would go out of business fast
  • #15,767
  • May 18, 2023 9:15am May 18, 2023 9:15am
Quoting Boulder
{quote} Here I would agree with FTMO, I think FTMO request is reasonable. maybe they copy live account trades. Here is the FTMO's letter the trader posted on twitter {image}
That trader just got banned from FTMO
  • #15,768
  • May 18, 2023 9:21am May 18, 2023 9:21am
Quoting 1odi
{quote} newsflash> 2 stage challenge and verification is a GAMBLING model by design!!! they want to attract gamblers, not risk managers. otherwise they would go out of business fast
True. If these no time limit firms, not the INSTANT FUNDING crap, but the 2 stage challenge with no time limit. If they can find a way to make it work for both parties......it would definitely be the future of this space. It takes all of the "gamble" out of the equation. Now it would make sense to trade the live in the same manner as the challenge. The key is to make it work for both the firm and the trader. If there was any truth to that video with the CEO of MFFX, maybe they are onto something?
  • #15,769
  • May 18, 2023 9:26am May 18, 2023 9:26am
Quoting Boulder
{quote} That trader just got banned from FTMO
Without breaking any rules.....did he violate daily DD? did he violate max DD? I know we are the the mercy of these firms, but you can't just make shit up as we go along.
  • #15,770
  • May 18, 2023 9:28am May 18, 2023 9:28am
Quoting pipmaster77
{quote} Without breaking any rules.....did he violate daily DD? did he violate max DD? I know we are the the mercy of these firms, but you can't just make shit up as we go along.
that is his post on twitter..
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  • #15,771
  • May 18, 2023 9:34am May 18, 2023 9:34am
Quoting pipmaster77
{quote} True. If these no time limit firms, not the INSTANT FUNDING crap, but the 2 stage challenge with no time limit. If they can find a way to make it work for both parties......it would definitely be the future of this space. It takes all of the "gamble" out of the equation. Now it would make sense to trade the live in the same manner as the challenge. The key is to make it work for both the firm and the trader. If there was any truth to that video with the CEO of MFFX, maybe they are onto something?
my point exactly! also, if there s any truth behind that MFFX video then makes the statement obsolete. and i m talking about the fact that he was endangering the company s funds. also, 100 leverage doesn t mean u get 100k account.. u get a 10k account that u can play with even if it was real. again, i m not advocating for crazy risk or full leverage, i m just sharing my view on the topic. i m all for prop firms, like the challenge and the opportunity 1 has, specially those that might not have a whole lot to trade with.
just looked at MFFX, no time limit and no min days, that s really nice, plus the rules are pretty straight forward, trade however u want, during news or not etc. the fact that they are fairly new makes it a bit of a GAMBLE, but if they manage to stay afloat and issue some nice pay outs along the way without 2 much noise..
  • #15,772
  • May 18, 2023 9:39am May 18, 2023 9:39am
Quoting Boulder
{quote} that is his post on twitter.. {image}
LOL>>> i guess he was on the verge to make it....large pay out. i dunno how that dude trades but if he didn t broke any of the rules etc..plus i doubt that Ftmo would copy his trades to a T as to go deep 160 lots on EU in the whole. but hey... nasty thing is it can happen to any1.

PS> i like Ftmo a lot for the reasons i mentioned yesterday, and i for 1 haven t had any issues with them thus far. just unbiased discussion
  • #15,773
  • May 18, 2023 9:50am May 18, 2023 9:50am
can any1 share a view on Eightcap and Thinkmarkets? i never used them before
  • #15,774
  • May 18, 2023 10:20am May 18, 2023 10:20am
Quoting Boulder
{quote} that is his post on twitter.. {image}
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  • #15,775
  • May 18, 2023 10:50am May 18, 2023 10:50am
Quoting Boulder
{quote} that is his post on twitter.. {image}
Of course, I'd like the entire story.....both sides. Of course, we will never know both sides. I wish FTMO would provide their side of things. To me, it's admitting guilt on their part by not defending themselves.
  • #15,776
  • May 18, 2023 11:01am May 18, 2023 11:01am
Quoting 1odi
opposite account trading... 1) how would they prove that? 2nd how is that taking advantage? such BS lol. u can do what u want on the funded account, right? as long as ur not taking advantage of the delayed data feed or whatnot, i don t see how that could be an issue.
-I am not 100% on this, but I have heard that some firms communicate with each other. I would be surprised if it is true, but if it is, then they could theoretically identify you and what you are doing with each firm. Aside from that, the people that do this are likely going to need to follow certain identifiable patters in order to sustain it. Likely, they will eventually be caught.

Either way, though, trading this way is just gambling and very risky in my opinion; better to learn how to trade properly so that you do not get permanently blacklisted and can earn a stable living. As for why it would be an issue, you have to think of things from the perspective of the lender.
  • #15,777
  • May 18, 2023 11:02am May 18, 2023 11:02am
Quoting 1odi
newsflash> 2 stage challenge and verification is a GAMBLING model by design!!! they want to attract gamblers, not risk managers. otherwise they would go out of business fast
-Technically, it is not gambling if you know what you are doing. It may be risky, but it is not gambling.
  • #15,778
  • Edited 11:14am May 18, 2023 11:02am | Edited 11:14am
Quoting Boulder
That trader just got banned from FTMO
-Probably for the best, honestly. Perhaps FTMO decided that his social media move (and probable subsequent moves) was enough to drop him.

Whether we like it or not, traders like this are not good for the model. If we want the model to last, we must learn to work within the parameters of the model. People need to wake up to this reality.
  • #15,779
  • May 18, 2023 7:50pm May 18, 2023 7:50pm
Quoting Boulder
{quote} I don’t know anything about their history, my first profit split with them will be on the 14th. I didn’t sign any contract with them so far, as long as they can pay traders, I am OK with that. . regarding to high risk trading, I thought they have no restrictions. I basically traded big lots in my accounts and finished challenges in a few hours. instead of listening to others negative comments, I gave them a try. I like my experience so far.
Forgot I need to update my payment experience with MFFX.
My first profit split was done very smoothly the other day. Simplely clicked 'withdraw' in the dashboard and was sent to Deel to sign a contract, wait for confirmation, all done wihin a few hours, my money was on the way. credit to my bank on 2nd day.
No need email them anything, all done on dashboard
  • #15,780
  • May 18, 2023 11:51pm May 18, 2023 11:51pm
EDIT: JUST NOTICED THEY WERE MENTIONED ALREADY POST #15570

I was creeping around on Twitter and saw this new prop firm. Not sure if it has been mentioned yet so here's the scoop.

Funded Engineer out of Dubai. https://fundedengineer.com/

Early reviews on Pimp Pilot are decent.

One and two-step challenges. Prices aren't anything special but they are with the discounts at the moment. Drawdown and profit targets aren't better than anyone else. However, no time limits on any of the challenges. Purple trading broker.

Not recommending them or trying to pimp them out, just sharing the latest weed to pop up in the prop space.

If I test out a 10K account I'll report back.
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Pride always comes before destruction.... -Proverbs 16:18
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