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  • #28,601
  • Jan 24, 2024 12:39pm Jan 24, 2024 12:39pm
Quoting Capablanca
Just saw this in twitter regarding Smart Prop Trader. When we think that props can't go lower on stupidity, then we discover gems like this: Detailed Overview of Prohibited Trading Strategies: Martingale Trading The Martingale trading approach involves incrementally increasing investment size after each simulated loss, anticipating that a successful trade will recover prior simulated losses and yield a simulated profit. Regarded as a form of gambling, this strategy carries significant risk, potentially resulting in substantial simulated drawdowns...
They will go out of business soon. This is absurd.
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  • #28,602
  • Jan 24, 2024 12:40pm Jan 24, 2024 12:40pm
Quoting pipmaster77
{quote} So , wait a minute, I eneter a trade, it goes in profit..... I book half and move the stop to break even.......I can't do this at this firm? or are they speaking about the opposite trading thing between multiple firms?
That's exactly how I read, because reversing between firms is always forbade, no matter what.
So, they can't be saying that you can reverse in multiple firms but not allowed to halve positions when doing so.

So the only interpretation is the one you (and myself) made: 10 lots in profit. Cut position to 5 lots. It's reverse martingale.
  • #28,603
  • Jan 24, 2024 12:42pm Jan 24, 2024 12:42pm
Quoting Takisd
This is your 1:30 pm EST wake up call. Blake is a charlatan with 0 knowledge of forex or financial markets. Buying a prop firm account from him is like trying to cut your wrists with a butter knife.
Yep, but even doing a branstorming here in the topic, trying to create the most stupid rule even, I doubt that we could get to this.

Even knowing who Blake is I couldn't believe if I didn't read it.
  • #28,604
  • Jan 24, 2024 12:47pm Jan 24, 2024 12:47pm
What you are witnessing is predatory behavior by props.

If you look at the market it is filled with wannabe traders, people who have a clue about trading and people who have 0 clue about what trading is but were told you can make lots of money quickly if you just spend 500 dollars.

TFT, Smartproptrader, Skilled funded and maven have all changed their system to only care about the latter. They want the ones who have no idea not the others. Their target is poorer people who want an opportunity not aspiring traders with some no how. This will come out sooner or later when the branding slides, for example, TFT's website traffic is severely down now. Their branding is starting to slip due to reputation which is hard, almost impossible to get back. Predatory behavior is a short term strategy.
  • #28,605
  • Jan 24, 2024 12:51pm Jan 24, 2024 12:51pm
Quoting Capablanca
{quote} That's exactly how I read, because reversing between firms is always forbade, no matter what. So, they can't be saying that you can reverse in multiple firms but not allowed to halve positions when doing so. So the only interpretation is the one you (and myself) made: 10 lots in profit. Cut position to 5 lots. It's reverse martingale.
I took it to mean that you couldn't open MORE positions in succession, each being the same or smaller lot size than one already open. Not about partial closing. Maybe I read it wrong. It's certainly not worded well. However, I wonder if it would matter if you moved the stop loss to beyond break even first? They don't mention that at all. Most prop firms that have reverse martingale rules (or "smooth martingale" as Bespoke likes to call it) allow more trades on the same symbol if the first is beyond break even. I wouldn't choose a firm like this anyway to bother asking... LOL
  • #28,606
  • Jan 24, 2024 1:22pm Jan 24, 2024 1:22pm
Quoting AaronPriest
{quote} I took it to mean that you couldn't open MORE positions in succession, each being the same or smaller lot size than one already open. Not about partial closing. Maybe I read it wrong. It's certainly not worded well. However, I wonder if it would matter if you moved the stop loss to beyond break even first? They don't mention that at all. Most prop firms that have reverse martingale rules (or "smooth martingale" as Bespoke likes to call it) allow more trades on the same symbol if the first is beyond break even. I wouldn't choose a firm like...
Ohh, I see ! I think you are right (Blake, besides trading, should also learn to write in plain english because he is native).

Now I get to another question. I have 10 lots in profit. Am I just forbidden to add exactly 5 additional lots (which is half) ? What about 4.99 ? If 4.99 is also forbidden where is the frontier ? 3 lots ? 2 lots ? Going extreme, even an addition of 0.01 lot is a reverse martingale because there is a ratio between 0.01/10.

This guy is a complete retard.
  • #28,607
  • Jan 24, 2024 1:42pm Jan 24, 2024 1:42pm
Quoting Capablanca
{quote} Ohh, I see ! I think you are right (Blake, besides trading, should also learn to write in plain english because he is native). Now I get to another question. I have 10 lots in profit. Am I just forbidden to add exactly 5 additional lots (which is half) ? What about 4.99 ? If 4.99 is also forbidden where is the frontier ? 3 lots ? 2 lots ? Going extreme, even an addition of 0.01 lot is a reverse martingale because there is a ratio between 0.01/10. This guy is a complete retard.
I read it to mean avoid this company at all costs.

"This approach involves increasing the size of a trading position or investment after a trade or investment has been profitable, and decreasing it after a loss. This strategy is in contrast to the traditional martingale strategy, which involves increasing the size of a position after a loss."
  • #28,608
  • Jan 24, 2024 1:44pm Jan 24, 2024 1:44pm
TFF having to migrate all mt5 accounts to mt4, what a cock up.infrastructure problems apparently.
  • #28,609
  • Jan 24, 2024 1:44pm Jan 24, 2024 1:44pm
Quoting Capablanca
{quote} Ohh, I see ! I think you are right (Blake, besides trading, should also learn to write in plain english because he is native). Now I get to another question. I have 10 lots in profit. Am I just forbidden to add exactly 5 additional lots (which is half) ? What about 4.99 ? If 4.99 is also forbidden where is the frontier ? 3 lots ? 2 lots ? Going extreme, even an addition of 0.01 lot is a reverse martingale because there is a ratio between 0.01/10. This guy is a complete retard.
Adding to winners is as old as trading itself.......if you are in a long term trend and you are adding to winners, setting stops in profit.......it is a zero risk, infinite reward strategy.......further proof they do not "make money when we do". Otherwise, they would encourage traders to do this. Even straight up martingale works when traded small enough and putting an overall risk cap on a position.
They make it so abundantly clear, more and more every day, this is us against them.
Now, I am not saying the %5ers are any different, but do you see the resources they have devoted to making traders better...could just be a farce to make you believe, but there is an entire Video on demand library, you can hop on and trade live alongside them every day. There is such a clear difference between 5%ers/FTMO and the rest of this garbage that remains in this space.
  • #28,610
  • Jan 24, 2024 3:15pm Jan 24, 2024 3:15pm
Quoting pipmaster77
{quote} Adding to winners is as old as trading itself.......if you are in a long term trend and you are adding to winners, setting stops in profit.......it is a zero risk, infinite reward strategy.......further proof they do not "make money when we do". Otherwise, they would encourage traders to do this. Even straight up martingale works when traded small enough and putting an overall risk cap on a position. They make it so abundantly clear, more and more every day, this is us against them. Now, I am not saying the %5ers are any different, but do...
100% agreed!
  • #28,611
  • Jan 24, 2024 3:18pm Jan 24, 2024 3:18pm
Quoting rizla101
TFF having to migrate all mt5 accounts to mt4, what a cock up.infrastructure problems apparently.
That would tick me off. Some people have quite an investment in EAs, indicators, etc. in MT4 or MT5 and don't have them for both. You could trade copy of course, but I'm glad to be rid of all 32-bit MT4 instances now. That being said, I read somewhere that even MT4 is 64-bit now with the latest installer?
  • #28,612
  • Jan 24, 2024 3:49pm Jan 24, 2024 3:49pm
Quoting AaronPriest
{quote} That would tick me off. Some people have quite an investment in EAs, indicators, etc. in MT4 or MT5 and don't have them for both. You could trade copy of course, but I'm glad to be rid of all 32-bit MT4 instances now. That being said, I read somewhere that even MT4 is 64-bit now with the latest installer?
They say they are working on a fix , so it should not be a permanent move away from MT5. There's some issue with mt5 data not synchronising with dashboard. I would have thought it would be any easy enough issue to resolve compared to the hassle of shifting everyone over to mt4. Hope there's not more to the story.
  • #28,613
  • Jan 24, 2024 5:20pm Jan 24, 2024 5:20pm
Quoting rizla101
{quote} They say they are working on a fix , so it should not be a permanent move away from MT5. There's some issue with mt5 data not synchronising with dashboard. I would have thought it would be any easy enough issue to resolve compared to the hassle of shifting everyone over to mt4. Hope there's not more to the story.
The recent MT5 upgrade has caused issues. I have trade copiers with Traders Connect and they have also had issues. It’s industry wide.
  • #28,614
  • Jan 24, 2024 5:32pm Jan 24, 2024 5:32pm
Quoting Capablanca
" For example, a trader purchases 10 lots and proceeds to be in profit, then proceeds to halving their lot position to 5, which is a form of Martingale trading and is prohibited on the platform. https://help.smartproptrader.com/en/...aren-t-allowed Blake is fighting hard with the kid from Bespoke to win the championship of the most stupid rules ever. Not easy to pick a winner.
By far the stupidest thing I've read this year. How can you invent such stupid rules that don't make any sense ?
  • #28,615
  • Jan 24, 2024 5:36pm Jan 24, 2024 5:36pm
Quoting DwnUndrTrdr
{quote} The recent MT5 upgrade has caused issues. I have trade copiers with Traders Connect and they have also had issues. It’s industry wide.
There was a bad MT5 update over the weekend for Windows platform, I talked about it in several forums and groups. Basically, whenever you switched timeframes or symbols on a chart then indicators and EAs would disappear, the same with loading them from templates. If you had a backup of terminal64.exe from before the update, you could overwrite the new file and things would work again--until it auto updated again. By Monday night they had a hotfix out and now the issue is resolved. Build 4153 from January 22 has been working fine for me yesterday and today.
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  • #28,616
  • Jan 24, 2024 5:44pm Jan 24, 2024 5:44pm
Quoting Nehemah
{quote} By far the stupidest thing I've read this year. How can you invent such stupid rules that don't make any sense ?
I dont know, the things that lex guy who runs swift funding writes is pretty up there with stupid things so far this year.
  • #28,617
  • Jan 24, 2024 5:59pm Jan 24, 2024 5:59pm
Quoting Takisd
{quote} I dont know, the things that lex guy who runs swift funding writes is pretty up there with stupid things so far this year.
They still can't figure out what an EA is.
  • #28,618
  • Jan 24, 2024 6:02pm Jan 24, 2024 6:02pm
Quoting Takisd
{quote} I dont know, the things that lex guy who runs swift funding writes is pretty up there with stupid things so far this year.
Tell us
  • #28,619
  • Jan 24, 2024 8:20pm Jan 24, 2024 8:20pm
Quoting rizla101
{quote} They say they are working on a fix , so it should not be a permanent move away from MT5. There's some issue with mt5 data not synchronising with dashboard. I would have thought it would be any easy enough issue to resolve compared to the hassle of shifting everyone over to mt4. Hope there's not more to the story.
MT4 is a piece of shit that MetaQuotes make even worse by not really wanting to support it (i.e. they are reluctant to provide additional servers), so it's usually that that has the issues.

MT5 is better and far more scalable.

However, in the hands of the clowns at TFT I suspect they could break anything by trying to squeeze the backend plugs in even harder to screw people over.

Perhaps them allegedly forcing out a founder, Blake and a lawsuit suit distracting them: https://www.financemagnates.com/fore...forced-ouster/
  • #28,620
  • Jan 25, 2024 2:22am Jan 25, 2024 2:22am
Just doing some research with the CS of a newly launched prob firm, Htrader, here are some notes that I found it's interesting:

+ There are two Add Ons options, you will be allowed to increase your trading dates up to 60 days for each phase but it will cost you more than 10% compared to the original price or 20% if you choose a 90% profit split. You can choose neither of them and keep the original price.
+ No trading over the weekend
+ Can trade with news and EA
+ 5% drawdown is trailing based on the previous day, and 10% drawdown is fixed based on your initial balance.
+ Only allowed to trade 1 account at a time (like Oanda pron)
+ Failed the challenge if didn't meet the profit target in the given time, and yes even though you didn't breach any rule (like Oanda prob)
+ Accept all countries (opportunity for the US traders)
+ Headquater based in Mauritius (first prob firm based in Africa? Don't know what is their purpose of doing this)
Now, let's wait for the feedback on their spread and commission fees.
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