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  • #27,681
  • Edited 9:00am Jan 2, 2024 8:32am | Edited 9:00am
Quoting navk
Hey guys, An interesting math, I was told in FF. A 100k prop account offers 5k daily drawdown, which is the effective balance of 100k prop account. Open a 500 $ real money account. And open a 5k re settable demo account with a mt4/5 broker. Re settable means, one must have 5k balance only every day, If not possible, open 5k demo account every 5 days Trade only in 5k demo account which will be master account. In a 5k account, max lot size to be traded is 1 standard lot in a day Loosing 5k demo account with 1 standard lot is near to impossible. The...
I have started with real money account with Traders way.

First day today.

Made 12 %.

There is no reason to trade more.

Copying the trades to funded account too.

In funded account, I have still reduced risk parameters.
Intraday only.
  • #27,682
  • Jan 2, 2024 9:50am Jan 2, 2024 9:50am
Quoting navk
{quote} I have started with real money account with Traders way. First day today. Made 12 %. There is no reason to trade more. Copying the trades to funded account too. In funded account, I have still reduced risk parameters.
I don't like Traders way for indices. They have 8-9 points spread on US30 and 3 points on NASDAQ. For forex only it is great.
  • #27,683
  • Jan 2, 2024 9:52am Jan 2, 2024 9:52am
Quoting sampat
{quote} I don't like Traders way for indices. They have 8-9 points spread on US30 and 3 points on NASDAQ. For forex only it is great.
I understand, they are reasonable broker.

This is first of my choice.

Have plans to go with :

OANDA
Go markets
and may be

Blueberry
Intraday only.
  • #27,684
  • Jan 2, 2024 9:58am Jan 2, 2024 9:58am
Quoting sampat
{quote} I don't like Traders way for indices. They have 8-9 points spread on US30 and 3 points on NASDAQ. For forex only it is great.
And I trade only gbpusd.

I know well how gbpusd moves. Where it stops.
Intraday only.
  • #27,685
  • Jan 2, 2024 10:08am Jan 2, 2024 10:08am
Quoting navk
{quote} I understand, they are reasonable broker. This is first of my choice. Have plans to go with : OANDA Go markets and may be Blueberry
Remove Oanda they sucks man. Any broker is good they charge swap minute by minute instead of day end which sucks big time
Tradersway is good for forex. Blueberry is good for indices (& forex if you choose base currency as non USD may be CAD, AUD or NZD as they charge flat 7CAD, AUD or NZD on any pair). I have no experience with Go markets.
You forget EightCap they accept north americans. But I tried demo account and slippages are like prop firms if traded higher lots.
  • #27,686
  • Jan 2, 2024 10:18am Jan 2, 2024 10:18am
Quoting sampat
{quote} Remove Oanda they sucks man. Any broker is good they charge swap minute by minute instead of day end which sucks big time Tradersway is good for forex. Blueberry is good for indices (& forex if you choose base currency as non USD may be CAD, AUD or NZD as they charge flat 7CAD, AUD or NZD on any pair). I have no experience with Go markets. You forget EightCap they accept north americans. But I tried demo account and slippages are like prop firms if traded higher lots.
Go markets, long time ago, I traded, they were good.

I will try with them surely.

Yeah 8 cap slippage is higher i know and that is why I did not consider.

I try two to three real money brokers.
Intraday only.
  • #27,687
  • Jan 2, 2024 6:18pm Jan 2, 2024 6:18pm
Quoting navk
Hey guys, An interesting math, I was told in FF. A 100k prop account offers 5k daily drawdown, which is the effective balance of 100k prop account. Open a 500 $ real money account. And open a 5k re settable demo account with a mt4/5 broker. Re settable means, one must have 5k balance only every day, If not possible, open 5k demo account every 5 days Trade only in 5k demo account which will be master account. In a 5k account, max lot size to be traded is 1 standard lot in a day Loosing 5k demo account with 1 standard lot is near to impossible. The...
I don't understand much about your strategy. Besides, what is mathematical in your presentation? (you said : " interesting math ")
But maybe we don't have the same definition of the word "mathematics"
  • #27,688
  • Edited 6:56pm Jan 2, 2024 6:32pm | Edited 6:56pm
Quoting Nehemah
{quote} I don't understand much about your strategy. Besides, what is mathematical in your presentation? (you said : " interesting math ") But maybe we don't have the same definition of the word "mathematics"
Interesting math explanation :

You have a 100 k prop account by which you have 5k dd. Effectively this is account balance ( not 100k )

You open 5k demo account.

Trade in 5k demo account.

Open a real money account 500 $.

Copy 5k demo account trades to 100 k prop account and to 500 $ real money account.

Target per day in 5k demo account is 20 pips or 200 $

When trades are copied to 500 $ account every day, your account grows in a cumulative manner, ends up as 40k in 125 days.

When trades are copied to 100k prop account, it is 200 $ x 125 days = 25k

I attach result of 500 $ real money account on the 125 th day
Attached Image (click to enlarge)
Click to Enlarge Name: simple.png Size: 85 KB
Intraday only.
  • #27,689
  • Jan 2, 2024 6:41pm Jan 2, 2024 6:41pm
125 days is 25 trading weeks.

This is 6 months period.

The math as you see is better in 500 $ real money account.

I remember, Pipmaster had similar intentions of having prop accounts and real money accounts. Last year.

why I chose 500 $ real money account ?

A 100k prop account ( 5000 $ DD ) roughly costs 500 $
Intraday only.
  • #27,690
  • Edited 7:07pm Jan 2, 2024 6:53pm | Edited 7:07pm
This is just idea that has developed in forexfactory.

Have three accounts 500 $ real money, + 2 nos 100k prop accounts.

The earning at the end of 2024 :

1 ) 40 k profit for 6 monhts for each 6 month period.

80k for 12 month period.

Three accounts 3 x 80 k = 240 k

2 ) Each prop account 100 k = 25k profit for 6 months.

for 12 months, 50k.

For 2 prop accounts = 2 x 50 k = 100k

3 ) Total earning by end of 2024 = 240k + 100k = 340 k

Intraday only.
  • #27,691
  • Jan 2, 2024 7:12pm Jan 2, 2024 7:12pm
Quoting navk
{quote} Interesting math explanation : You have a 100 k prop account by which you have 5k dd. Effectively this is account balance ( not 100k ) You open 5k demo account. Trade in 5k demo account. Open a real money account 500 $. Copy 5k demo account trades to 100 k prop account and to 500 $ real money account. Target per day in 5k demo account is 20 pips or 200 $ When trades are copied to 500 $ account every day, your account grows in a cumulative manner, ends up as 40k in 125 days. When trades are copied to 100k prop account, it is 200 $ x 125 days...
As mentioned, the position size for the 5k demo is 1 standard lot or $10/pip.
But what would be the lot size for the $500 real account and 100k prop account?
Success = Practice + Patience + Persistence
  • #27,692
  • Edited 9:15pm Jan 2, 2024 7:20pm | Edited 9:15pm
Quoting fxpider
{quote} As mentioned, the position size for the 5k demo is 1 standard lot or $10/pip. But what would be the lot size for the $500 real account and 100k prop account?
If you use fxblue trade copier :

It places 1 lot in 5 k means 0.2 in 500 $ account

In the similar way, for prop account too, you must adjust lot size multiplier so as to trade only 1 lot. ( or maximum 2 lots )
Intraday only.
  • #27,693
  • Jan 2, 2024 7:24pm Jan 2, 2024 7:24pm
Quoting navk
{quote} If you use fxblue trade copier : It places 1 lot in 5 k means 0.2 in 500k account In the similar way, for prop account too, you must adjust lot size multiplier so as to trade only 1 lot. ( or maximum 2 lots )
Now it makes sense.

Thank you.
Success = Practice + Patience + Persistence
  • #27,694
  • Jan 2, 2024 7:33pm Jan 2, 2024 7:33pm
why do I suggest trade in 5k demo account ?

1. Emotions are taken off.

2. You will never loose 5k demo account ( and so, 500 $ real money account and 100k prop firm account )

The price is not expected to go against you... 250 pips.
Intraday only.
  • #27,695
  • Jan 2, 2024 10:42pm Jan 2, 2024 10:42pm
Quoting navk
why do I suggest trade in 5k demo account ? 1. Emotions are taken off. 2. You will never loose 5k demo account ( and so, 500 $ real money account and 100k prop firm account ) The price is not expected to go against you... 250 pips.
Which pairs will this work with best? or which do you recommend?
  • #27,696
  • Jan 2, 2024 10:50pm Jan 2, 2024 10:50pm
Quoting Maroka
{quote} Which pairs will this work with best? or which do you recommend?
Pairs with low ADR s.

I trade only gbpusd.
Intraday only.
  • #27,697
  • Jan 2, 2024 10:59pm Jan 2, 2024 10:59pm
Quoting navk
{quote} I have started with real money account with Traders way. First day today. Made 12 %. There is no reason to trade more. Copying the trades to funded account too. In funded account, I have still reduced risk parameters.
Hi Navk,

I've taken a look at TradersWay & they appears to be worth giving a try. Let us know how it goes..
  • #27,698
  • Jan 2, 2024 11:16pm Jan 2, 2024 11:16pm
Quoting navk
{quote} Pairs with low ADR s. I trade only gbpusd.
So in summary, it's like risking 250 pips to target 20 pips with each trade, and only one open trade at a time?
Thanks
  • #27,699
  • Jan 2, 2024 11:54pm Jan 2, 2024 11:54pm
Quoting Maroka
{quote} So in summary, it's like risking 250 pips to target 20 pips with each trade, and only one open trade at a time? Thanks
Assume a case like this.

I have 10000 $ account.

I trade 1 lot only. For 20 pips every day.

Does it mean I am risking 10000 $ ? For 20 pips ?
Intraday only.
  • #27,700
  • Jan 2, 2024 11:58pm Jan 2, 2024 11:58pm
Quoting navk
{quote} Assume a case like this. I have 10000 $ account. I trade 1 lot only. For 20 pips every day. Does it mean I am risking 10000 $ ? For 20 pips ?
whats the back up plan if the trade goes against you. It looks like theres no SL.
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