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  • #29,321
  • Feb 5, 2024 9:22am Feb 5, 2024 9:22am
Quoting Takisd
The e8 thing is a giant nothing burger. My feel for it is that its built to confuse. Also, the weight of certain params is interesting. Especially since most traders fail on daily dd and not overall.

what % would you put on daliy DD versus Overall failure rate ?
  • #29,322
  • Edited 9:43am Feb 5, 2024 9:24am | Edited 9:43am
Quoting genuine007
{quote} Yeah that's good, that I did not consider as majority will not even reach the funded account. And company just showing your dreams of bigger drawdown & bigger profit share & taking bigger amount for the same account size.. So if we consider the same fact, then all the PHASE1 challenge accounts are totally bad because in those accounts the maximum drawdown limit is way way small like just 6% only maximum drawdown!!
Exactly right. 1 stage should be avoided for exactly that reason. The bottom line should always be
1. fee paid multiplied by target/DD P1 multiply by target/DD P2.
2. take what the allowable TOTAL loss is on funded account multiplied by profit split% and divide by the first number.
This number is the actual dollar value you are receiving vs. the dollar value had you traded the "fee" in a personal account.
We are looking for 5+, anything lower than 3.5 is probably not worth your time.

Also, keep in mind, around the 6th "scale", assuming a 25% increase for every 10% you make (which is really 100% on allowable loss), you personal account will exceed the prop firm INCLUDING taking out everything the prop has paid you. Most firms, this occurs around 18 months. So, if you can live for 18 months via other income or savings without needing to withdrawal from the personal account........you don't need a prop firm.
  • #29,323
  • Feb 5, 2024 9:39am Feb 5, 2024 9:39am
Quoting Stoneyrocks
{quote} what % would you put on daliy DD versus Overall failure rate ?
probably 70/30
  • #29,324
  • Feb 5, 2024 9:43am Feb 5, 2024 9:43am
Quoting Takisd
{quote} probably 70/30
that is for 5/10 % ratio drawdown ?
  • #29,325
  • Feb 5, 2024 9:47am Feb 5, 2024 9:47am
Quoting Takisd
{quote} probably 70/30
violating on daily DD is the most ludicrous thing there is....you are clearly over risking and/or a degen gambler.
It is literally purchasing something and only using half of the product. Like buying 5 lbs of chicken and just throwing 2.5 lbs. in the trash for no reason whatsoever.
I mean, literally, one can not wait until the next day.......is the market going to disappear overnight?
  • #29,326
  • Feb 5, 2024 9:59am Feb 5, 2024 9:59am
Quoting Stoneyrocks
{quote} that is for 5/10 % ratio drawdown ?
For any program. You gotta understand, most people are gambling on a dream with props. Andy here has proven that point.
  • #29,327
  • Feb 5, 2024 10:02am Feb 5, 2024 10:02am
I usually stop @ a +5% monthly target risking no more than 5% of 10% total drawdown. @ e8 I would slightly increase my risk so that would be a +7% monthly target risking a max of 7% of 14% total drawdown... It's a pretty interesting option, however I'm not touching new US prop challenges @ the moment.
  • #29,328
  • Feb 5, 2024 10:28am Feb 5, 2024 10:28am
Quoting genuine007
{quote} uhhh.. I just checked some of your images and literally got a shock to see 150K+ profit, 86k+ profit in trade history for the day.. I commented it before checking.. because I did not know.. 100 million profit from forex trading.. WAIT A MINUTE.. WHO ARE YOU???
Me? Am a trader that stated trading since 2008 and was losing for over 10 years and until i finally found my edge.
Have been trading only Gbpusd pair every single day for over 7 years and some how have come to understand that pair.
I can spot when the market is Trending and switch to trending and if it's ranging i can also switch to ranging so i make money in both
Ranging and trending Market.
I don't make money in trending market only to give it back in ranging market.
Sometimes is good to brag.... Lol's ( am not but just having fun)
..........."Wherefore let him that thinketh he standeth take heed lest he fall ''.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #29,329
  • Feb 5, 2024 10:40am Feb 5, 2024 10:40am
Quoting Capablanca
{quote} I tried wise in my first payout and lots of problems (transfer was rejected for some reason in wise), until I gave up and changed to bank wire. Bank wire works for me. Usually I receive the same day I request or the day after. Important to note that my problems with wise may be because I'm from Europe and don't know to parametrize that stuff of ACH, etc. Here we just use IBAN and BIC and that's enough. Deel I think it's not available any longer.
Hello Capablanca;

I trust you're well.

Wise is normally fairly seamless so there could very well be a small technicality impeding your payment. They have recently deployed their own VISA type Card as well but still not available in South Africa. They say coming soon, but,so is XMAS!

Perhaps you may wish to consider checking whether the Card is available in your region since that would be One-Click Type Withdrawal into the FIAT of your choice since Wise is very strong in the area of offering different Currencies and considerably better than "At Market Rates"

Wishing you a pleasent day ahead.
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,330
  • Feb 5, 2024 10:45am Feb 5, 2024 10:45am
Quoting genuine007
Is this possible that MT4 got banned or say shut down, and metaquotes company decide to have just MT5 or bring something new software If that happen what will happen to all those colorful indicators that coders have designed for MT4 and still designing on forexfactory and other websites and also to scripts like to say break even all trades, close all pendings, delete all orders, trailling stops, and all other EAs as well. What kind of indicators work permanently on MT4 no matter what kind of or how many times a MT4 updated version is released by...
Hello Genuine007;

I trust you're well.

Please be advised that Trader Eess is highly proficient with MT5 scripts and EAs which include, most; if not all you outlined in your post.

You could look over his profile and threads when time permits and peruse what he has available for download & how they align with your requirements and expectations.

Trusting you find the information in order & wishing you a pleasent day ahead.
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,331
  • Edited 11:07am Feb 5, 2024 10:54am | Edited 11:07am
Quoting CableJ
I usually stop @ a +5% monthly target risking no more than 5% of 10% total drawdown. @ e8 I would slightly increase my risk so that would be a +7% monthly target risking a max of 7% of 14% total drawdown... It's a pretty interesting option, however I'm not touching new US prop challenges @ the moment.
They over priced it though. You could get for example a 200k account @ 16k overal dd from another firm for $750

E8 100k account @14k overall dd is $940 outside of this discounted period.

Also with E8 you'd need to make 21% to get funded as apposed to 12% with other option.

Poor offering from them.
  • #29,332
  • Feb 5, 2024 10:57am Feb 5, 2024 10:57am
Quoting genuine007
{quote} Yeah that's good, that I did not consider as majority will not even reach the funded account. And company just showing your dreams of bigger drawdown & bigger profit share & taking bigger amount for the same account size.. So if we consider the same fact, then all the PHASE1 challenge accounts are totally bad because in those accounts the maximum drawdown limit is way way small like just 6% only maximum drawdown!!
And often with an even larger profit target, so you have 6% to work with to make 10% or a 1:1.67 ratio--and the drawdown is often trailing with 1 step challenges too (though not always).
  • #29,333
  • Feb 5, 2024 11:06am Feb 5, 2024 11:06am
Quoting Trader191
{quote} yes, a good plan. but our brains dont work so easy often like we plan, its often a lot subconsciously. its hard to split this very easy and make progress in real trading in real trading account when not concentrate on this purpose. but thats only my opinion, i dont know thousands of traders (so i dont have statistical relevant data), so there will be for sure exist trader who can maybe split it and make big progress as trader in real account and use prop same time.
Hello Trader191;

I trust you're well & I hope you don't mind me chiming in on the engagement between you & Trader Capablanca.

It is certainly correct as you outlined that it is not easy but surely you will agree that difficult is not congruent or even related to Impossible!

What Trader Capablanca is doing is inert to those who can't do or won't do it. I am doing the same thing but at a much slower pace since I don't Daytrade these accounts. I load orders on all these accounts at W1 or MN Expansions at minute position sizes relative to the peak permissible drawdown.

In so doing, I cannot fail either the challenges or blow the funded account. The RoE ($400-$500 per $10K Drawdown) is sound from any vantage point you look at it from. Consider, I have maximum 2 orders (28 pairs uncorrelated FX Majors or Minors only, no Exotics) on each account with position size averaging 0.50 with an average gain between bottom to top expansion zones of 5000-7500 PIPS, Yes, PIPS, not points.

Given the length of years you're trading you'll appreciate that someone trying to contest that such a method is not a sound financial transaction reserves their rights & I respect their views but as with Trader Capablanca, it permits me the latitude to move those profits into avenues where I can then execute "higher risk" transactions on such opportunities since it's liquidity which I literally got for doing Nothing, except updating the position once in each week cycle or so on each account.

Perhaps this information provides you an alternate view. How many others possess the propensity to trade with different methods on their personal & prop accounts is not something I can speculate upon but we can readily agree that Trader Capablanca has hit his straps with that diversity given the factual dataset he has outlined.

You are correct that our Brain is inherently not wired to work in this manner but lest we forget, the striations in our Brain is not rigid to the point where it's unchangeable.

Through dedication & honing One's Vision along with sound Physical & Mental well being coupled with Neurogenesis & Synapses firing results in a metamorphisis to the point where the brain will do that which it is not inherently hard-wired to do.

I wish you receive my comments in the good faith it is intended however if you still hold a strongly divergent posture on the matter I respect your views.

May The Markets Go With You.
Des
My success is due to The Great Napoleon Hill. May His Name Live Forever
  • #29,334
  • Feb 5, 2024 11:32am Feb 5, 2024 11:32am
Quoting rizla101
{quote} They over priced it though. You could get for example a 200k account @ 16k overal dd from another firm for $750 E8 100k account @14k overall dd is $940 outside of this discounted period. Also with E8 you'd need to make 21% to get funded as apposed to 12% with other option. Poor offering from them.
Daily dd also goes up. it's basically +100% DD & +50% DD to pass either way... but as you mentioned it is way more expensive.
  • #29,335
  • Feb 5, 2024 11:51am Feb 5, 2024 11:51am
Quoting rizla101
{quote} They over priced it though. You could get for example a 200k account @ 16k overal dd from another firm for $750 E8 100k account @14k overall dd is $940 outside of this discounted period. Also with E8 you'd need to make 21% to get funded as apposed to 12% with other option. Poor offering from them.
i think 8%-4% with same drawdown at 750$ something is alright … this same across most of the smaller firms
Extreme gut feeling trader
  • #29,336
  • Feb 5, 2024 12:19pm Feb 5, 2024 12:19pm
Quoting pipmaster77
{quote} Exactly right. 1 stage should be avoided for exactly that reason. The bottom line should always be 1. fee paid multiplied by target/DD P1 multiply by target/DD P2. 2. take what the allowable TOTAL loss is on funded account multiplied by profit split% and divide by the first number. This number is the actual dollar value you are receiving vs. the dollar value had you traded the "fee" in a personal account. We are looking for 5+, anything lower than 3.5 is probably not worth your time. Also, keep in mind, around the 6th "scale", assuming a...
Just use the formula.......It works on all models, line 1 on 1stage you only have 1 number to multiply, 3 stage you have 3.
Example %5ers 100K for $495
$495 * 1.8 (8% target/10% DD phase 1) * 1.5 (5% target/10% DD) = $1,336.50
Upon passing, you have 10K max loss @80% split =$8,000
$8,000/ $1,336.50= $5.98
For each $1 you would have on personal account, you have $5.98 AVAILABLE LOSS with this example. All things being the same, you can literally trade 6 times the size and therefore earn 6 times the profit.
  • #29,337
  • Feb 5, 2024 12:32pm Feb 5, 2024 12:32pm
Quoting Takisd
{quote} probably 70/30
Unbelievable.... Are people really losing their account because they violate the daily DD ?! One has to be a lot reckless to experience that. Always in the limit.
  • #29,338
  • Feb 5, 2024 12:35pm Feb 5, 2024 12:35pm
Quoting pipmaster77
{quote} Just use the formula.......It works on all models, line 1 on 1stage you only have 1 number to multiply, 3 stage you have 3. Example %5ers 100K for $495 $495 * 1.8 (8% target/10% DD phase 1) * 1.5 (5% target/10% DD) = $1,336.50 Upon passing, you have 10K max loss @80% split =$8,000 $8,000/ $1,336.50= $5.98 For each $1 you would have on personal account, you have $5.98 AVAILABLE LOSS with this example. All things being the same, you can literally trade 6 times the size and therefore earn 6 times the profit.
I think 5%er sells to US clients, dont be Suprised if metaqoutes pulls their license like they did with true forex funds.
Metaquotes starts pulling licenses from CFD providers that offer Services to US clients
1k to 100k Copy Trading All Time Return: 367.9%
  • #29,339
  • Feb 5, 2024 12:37pm Feb 5, 2024 12:37pm
Quoting montygoldy
{quote} i think 8%-4% with same drawdown at 750$ something is alright … this same across most of the smaller firms
Yes the $750 @ 8 and 4 for 200k is another firm. E8 with those parameters cost $988 outside of the current discount period. Which is still not too bad as many others offer 8 and 5 PTs for similar money.

It was more the additional cost of purchasing extra DD that doesn't seem worthwhile.

E8 did previously add extra 1% of DD with each payout up to 14%. Probably they got rid of this, was there best feature.

Now it seems they charge you $100 for each % of DD you wish for.
  • #29,340
  • Feb 5, 2024 12:42pm Feb 5, 2024 12:42pm
Quoting pipmaster77
{quote} Just use the formula.......It works on all models, line 1 on 1stage you only have 1 number to multiply, 3 stage you have 3. Example %5ers 100K for $495 $495 * 1.8 (8% target/10% DD phase 1) * 1.5 (5% target/10% DD) = $1,336.50 Upon passing, you have 10K max loss @80% split =$8,000 $8,000/ $1,336.50= $5.98 For each $1 you would have on personal account, you have $5.98 AVAILABLE LOSS with this example. All things being the same, you can literally trade 6 times the size and therefore earn 6 times the profit.
Yep, with that simple formula it's pretty simple to equalize all props offers to avoid being "tricked" by things that seem better but are, in fact, worse.

The only difficult may be if the refund % is more than 100% in any offer but even that can be calculated using a % of challenges that achieves a refund.
Also if there is a bonus from phase 1 and 2 (which usually is only paid when traders achieve 5% or 10%).

Anyway, no need to complicate with that. If we use the formula it's more than enough to have a great comparison between props.
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