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  • #17,941
  • Jul 16, 2023 1:48pm Jul 16, 2023 1:48pm
Quoting navk
I give a clue. I see downtrend started in gbpusd. It can be called down trend or retrace. Catching this trend/retrace will enable traders to pass challenge, phase 1 or 2 within next week. 100 to 150 pips retrace is what i expect. It is not a signal but my analysis. Risk management and entry price is absolutely important.
I started a short on Thursday night, might have caught the peak. We'll see how next week goes. ;-)
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  • #17,942
  • Jul 16, 2023 3:10pm Jul 16, 2023 3:10pm
Quoting AaronPriest
{quote} I started a short on Thursday night, might have caught the peak. We'll see how next week goes. ;-) {image}
I'm doing something similar longing USD JPY to check which prop will pay the best carry

I expect DXY to rally, possibly till the end of this month.
  • #17,943
  • Jul 16, 2023 4:30pm Jul 16, 2023 4:30pm
Now since there is no time limit on challenges, I am wondering what are the advantages of direct funding models like 5ers hyper growth program or MyFF accelerated program?
  • #17,944
  • Jul 16, 2023 5:28pm Jul 16, 2023 5:28pm
To newbies who think straddling is a good idea etc. I can say this. When the trading seems to be impossible. When you think you found a decent system that works for you and then you see it completely get destroyed since the market decided to shift some. Those are the times I think where many people give up. Since mentally its truly taxing . But when you think it seems impossible and that you tried all ways to get profitable. Then thats the time to try again and other ways. Over and over again.
This is a game of endurance for sure and to not give up. Since the trading methods must suit your psychological profile. The one thing I learned truly. Its not to listen to other gurus or anything since they deviate from learning and molding the trading style which fits you. Only basic trading concepts is what one needs to learn and grow from there.

As others mentioned. There is no quick easy way on this. But its all about charting time. The more charting time the better. Instead of watching trading gurus. Get charting time. Prop firms are a good way to train trading. Ok well as I see it maybe not as good as before but still decent.
  • #17,945
  • Jul 16, 2023 7:48pm Jul 16, 2023 7:48pm
guys a few pages ago i read something about bad feedbacks on firms which are using fxpig, for me its a cute and adorable logo. so far im currently doing phase one of fxify, is it a bad broker? vvs connect youtube channel used to get a funded account from a firm which use fxpig.

so far im not getting bad experience except that i already get used with mff only charging $3 per lot on commissions while fxpig are charging $6 per lot which is not that bad considering I didn't search it more thoroughly before buying their challenge and that's my fault.
  • #17,946
  • Edited 9:34pm Jul 16, 2023 9:24pm | Edited 9:34pm
my goodness,
i talked too early, It's good thing it was a winning trade but bro, look my tp was supposed to be 11 pips and that's supposed to be a $103.97 profit or around that.

but the TP i got was $150.33. Meaning its slippage! with my trading system this could kill my account.
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  • #17,947
  • Edited 10:01pm Jul 16, 2023 9:36pm | Edited 10:01pm
update, im dumb, there was an aud red news earlier, maybe that's why. I won't jump to conclusion yet.
-
edit, i must be lacking sleep. i double check the calendar and there was none the news is for tomorrow.
  • #17,948
  • Jul 16, 2023 10:12pm Jul 16, 2023 10:12pm
Quoting KoyaAndy18
my goodness, i talked too early, It's good thing it was a winning trade but bro, look my tp was supposed to be 11 pips and that's supposed to be a $103.97 profit or around that. but the TP i got was $150.33. Meaning its slippage! with my trading system this could kill my account. {image}
I posted this ealier, limit orders will many times generate positive slippage, both on entry and exit (TP).
Slippage occurs when price flies through entries because there is no liquidity to fill such orders.........this is to your BENEFIT with limit orders as it gets you a BETTER price. This is why you were filled at a better price on your AUDJPY, TP is a limit order, a stop loss, just as the name implies, is a STOP order.
There are still times if your limit order is close byduring news, it won't fill and then reverse and give you negative slippage. The factors include, how far away the limit order is at the news release and the impact of the release.
  • #17,949
  • Jul 16, 2023 10:21pm Jul 16, 2023 10:21pm
Quoting KoyaAndy18
update, im dumb, there was an aud red news earlier, maybe that's why. I won't jump to conclusion yet. - edit, i must be lacking sleep. i double check the calendar and there was none the news is for tomorrow.
It was actually China red news, which does impact AUD and JPY (usually)
  • #17,950
  • Jul 16, 2023 10:21pm Jul 16, 2023 10:21pm
Quoting pipmaster77
{quote} I posted this ealier, limit orders will many times generate positive slippage, both on entry and exit (TP). Slippage occurs when price flies through entries because there is no liquidity to fill such orders.........this is to your BENEFIT with limit orders as it gets you a BETTER price. This is why you were filled at a better price on your AUDJPY, TP is a limit order, a stop loss, just as the name implies, is a STOP order. There are still times if your limit order is close byduring news, it won't fill and then reverse and give you negative...
im kinda noob with limit orders. but this is just a regular sell order, not a sell stop, not a sell limit. if i understand correctly slippage also happens when the candle is moving very fast like when the news happens, it would disrespect the tp/sl and would give you a different amount of lose/win. Or am I wrong?
  • #17,951
  • Jul 16, 2023 10:26pm Jul 16, 2023 10:26pm
Quoting pipmaster77
{quote} It was actually China red news, which does impact AUD and JPY (usually)
do you think the broker/firm will get the extra profit i got from slippage lol. I wanna talk about the slippage on their discord but i wonder if mod saw that they will take the extra profit away xD
  • #17,952
  • Jul 16, 2023 10:32pm Jul 16, 2023 10:32pm
Quoting KoyaAndy18
{quote} do you think the broker/firm will get the extra profit i got from slippage lol. I wanna talk about the slippage on their discord but i wonder if mod saw that they will take the extra profit away xD
Slippage works both ways....they don't give it back if it's negative, they certainly shouldn't take it away if positive. If you share your positive slippgae with others, be sure to give them full disclosure of the circumstances......in other words if you just go in and say "this firm is great, I got positive slippage", you're going to get attacked by those getting negative slippage when they try to trade the news with market and/or stop orders.
  • #17,953
  • Jul 16, 2023 10:34pm Jul 16, 2023 10:34pm
Quoting KoyaAndy18
{quote} im kinda noob with limit orders. but this is just a regular sell order, not a sell stop, not a sell limit. if i understand correctly slippage also happens when the candle is moving very fast like when the news happens, it would disrespect the tp/sl and would give you a different amount of lose/win. Or am I wrong?
You entered a sell order @ market, but ALL TPs are LIMIT orders, all SL orders are STOP orders. So yes, price doesn't get filled on a TP, but blows past for +++ slippage, the opposite takes place on a stop loss.
  • #17,954
  • Jul 16, 2023 10:35pm Jul 16, 2023 10:35pm
Quoting pipmaster77
{quote} Slippage works both ways....they don't give it back if it's negative, they certainly shouldn't take it away if positive. If you share your positive slippgae with others, be sure to give them full disclosure of the circumstances......in other words if you just go in and say "this firm is great, I got positive slippage", you're going to get attacked by those getting negative slippage when they try to trade the news with market and/or stop orders.
ok, btw thanks bro. i learned something very important you today specially the china red news would also affect my most traded pair, audjpy.
  • #17,955
  • Jul 17, 2023 8:12am Jul 17, 2023 8:12am
TFF has no time limit as well. So we now have MFF,FTMO,TFF, TFTP (standard) and the 5%ers (high stakes) all offering unlimited time. E8 still at 60 and 120 on their extended program. This is out of what I consider "the big 6". Of course, most, if not all, of the newer firms offer unlimited........but what is their advantadge now.....obviously if 2 companies have the same offer, anyone with any level of intelligence would select the longer standing, established companies.
I'm not sure their is enough market share for 30+ firms with the same exact offers......we should start an "office pool" of who crashes first.
Certainly the edge cannot be 40-50% off on 10 and 15K accounts?
  • #17,956
  • Jul 17, 2023 8:34am Jul 17, 2023 8:34am
Quoting pipmaster77
TFF has no time limit as well. So we now have MFF,FTMO,TFF, TFTP (standard) and the 5%ers (high stakes) all offering unlimited time. E8 still at 60 and 120 on their extended program. This is out of what I consider "the big 6". Of course, most, if not all, of the newer firms offer unlimited........but what is their advantadge now.....obviously if 2 companies have the same offer, anyone with any level of intelligence would select the longer standing, established companies. I'm not sure their is enough market share for 30+ firms with the same exact...
Lets make it interesting.

We should have a competition, have FF moderator be an escrow for us and throw in a few bucks to participate
  • #17,957
  • Jul 17, 2023 8:42am Jul 17, 2023 8:42am
Quoting LehmanBrotha
{quote} Lets make it interesting. We should have a competition, have FF moderator be an escrow for us and throw in a few bucks to participate
Right, like the office March madness or football pool.
  • #17,958
  • Jul 17, 2023 8:44am Jul 17, 2023 8:44am
Quoting pipmaster77
{quote} You entered a sell order @ market, but ALL TPs are LIMIT orders, all SL orders are STOP orders. So yes, price doesn't get filled on a TP, but blows past for +++ slippage, the opposite takes place on a stop loss.
i just got a negative Slip on a limit buy order on MFFX. Shouldn't that be impossible?
2023.07.17 14:57:54.046 Trades '3028321': accepted buy limit 19.97 EURUSD.i at 1.12249 (1.12249) sl: 1.12209 tp: 1.12351
2023.07.17 15:25:53.788 Trades '3028321': deal #99058697 buy 19.97 EURUSD.i at 1.12256 done (based on order #105282670)

i thought my price should be 1.12249 or better (lower), not higher since it is a limit.
  • #17,959
  • Jul 17, 2023 8:52am Jul 17, 2023 8:52am
Quoting pipmaster77
TFF has no time limit as well. So we now have MFF,FTMO,TFF, TFTP (standard) and the 5%ers (high stakes) all offering unlimited time. E8 still at 60 and 120 on their extended program. This is out of what I consider "the big 6". Of course, most, if not all, of the newer firms offer unlimited........but what is their advantadge now.....obviously if 2 companies have the same offer, anyone with any level of intelligence would select the longer standing, established companies. I'm not sure their is enough market share for 30+ firms with the same exact...
Ohhhh, I didn't realize that TFF already launched it. It was some hours ago.
  • #17,960
  • Jul 17, 2023 9:03am Jul 17, 2023 9:03am
So TFF launched 2 new challenges programmes:
- No time limit
- No minimum time

The normal 30 days challenge 200K cost 998€
The new ones cost 1098€
I think we can't have No time limit + No minimum time
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