If MFF do not add additional rules. My guess is 15-20 days + a change to the extension to be easier to get. Probably 60-75 days total. People seem to be blind with the days shit I was trying to find one that i could safely prove my point with grid and they all have weird rules. Show me an MFF rule set with unlimited days please, where you can do whatever you want and still be sure to get paid.
The5%ers High Stakes Challenge offers unlimited time for evaluation phase 1 & 2
Daily DD is 5% from starting equity of the day. What's the other catch?
The5%ers High Stakes Challenge offers unlimited time for evaluation phase 1 & 2 Daily DD is 5% from starting equity of the day. What's the other catch?
Done avoiding trading during news on FTMO, but they provided list of red events and pairs affected on their website.
Does The5ers have this on their website for traders currently took their program?
{quote} Done avoiding trading during news on FTMO, but they provided list of red events and pairs affected on their website. Does The5ers have this on their website for traders currently took their program?
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I never checked that but the rule in T&C is very generic:
"It is prohibited to perform bracketing strategies (opening pending orders) around high-impact news."
This reminds me BeSpoke when they had the news rule. Any news would affect all instruments. For example JPY BoJ would affect EURGBP trading during those +/- 2 minutes.
{quote} Done avoiding trading during news on FTMO, but they provided list of red events and pairs affected on their website. Does The5ers have this on their website for traders currently took their program?
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Don't be lazy. Do what I did and reach out to their customer service directly. They don't care if you trade the news, but they don't want to see you take on abnormally high volume during the news in comparison to your other trading. I think if you're a sensible trader with the prop firms they won't go out of their way to get rid of you. People get greedy, force the prop firm to take on too much risk, and leave them no choice but to fire you. They are not going to let you abuse the platform
{quote} The news rule is also a concern but from what I've read recently from 5ers staff is that there is a fair bit of discretion on their part. Basically, if you trade with proper risk management, as if the account was your own money, you will not be failed on a news violation is what I've understood. The rule is there to manage risk and not to fail traders. 5ers are a solid firm with a great reputation - they are not out for a quick buck on challenge fees.
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this is essentially what I was told, directly from customer service. If you trade like a reasonable person they will leave you alone. If you try to abuse them they will fire you as they should
I got Information from the Trading Pit, scalping is allowed but a delay of 2 minutes is needed bitwin open and close.
that's terribly for an scalper like me, when I have stop buy or sell with tp and SL in the market the open and close can bee in seconds.
{quote} I got Information from the Trading Pit, scalping is allowed but a delay of 2 minutes is needed bitwin open and close. that's terribly for an scalper like me, when I have stop buy or sell with tp and SL in the market the open and close can bee in seconds.
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Wow. Thanks for looking into this.
Those are basically abusive rules meant to trip the trader at many possible points.
I wish there was a way to measure the kind and quantity of obstacles that props throw in the way of the trader to knock them out.
If you really think of it, it really is a game. The race track to the finish is obviously marred with the natural moves of the market. If that weren't bad enough, the prop throws in some cones on the hairpins of the moves and watches you drive over them.
{quote} Wow. Thanks for looking into this. Those are basically abusive rules meant to trip the trader at many possible points. I wish there was a way to measure the kind and quantity of obstacles that props throw in the way of the trader to knock them out. If you really think of it, it really is a game. The race track to the finish is obviously marred with the natural moves of the market. If that weren't bad enough, the prop throws in some cones on the hairpins of the moves and watches you drive over them. Game over...please insert a $500 coin!
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This is why MFF wins every time I think. Right now I don't see any firms without weird rules. I went through about 40 of them trying to find one to spank but all of them left more than to be desired with their extra rules.
{quote} This is why MFF wins every time I think. Right now I don't see any firms without weird rules. I went through about 40 of them trying to find one to spank but all of them left more than to be desired with their extra rules.
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What's MFF's challenge duration again?
Limiting the time to achieve a lofty goal is one of the biggest underhanded hurdles they throw in the way of the trader.
{quote} What's MFF's challenge duration again? Limiting the time to achieve a lofty goal is one of the biggest underhanded hurdles they throw in the way of the trader.
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yes yes a clearly displayed time limit before purchase is the same as a discretionary “if we don’t like your trading we can ban you” clause.
{quote} yes yes a clearly displayed time limit before purchase is the same as a discretionary “if we don’t like your trading we can ban you” clause.
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lol, yes, a clearly defined rule that you are well aware of is 100% the same as you passed all of the targets, but there is this one thing we have stated very vaguely and left 100% up to our discretion....Thank You for your time and effort, but we are going to have to violate your account.
Yes, exactly the same.
