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  • #34,461
  • Apr 9, 2024 5:10am Apr 9, 2024 5:10am
Quoting Capablanca
{quote} Do you see the contradiction ? Providing 1:100 leverage and them claiming that people got lucky. 1:100 is in fact 1:1000 because they provide purchase power of 10.000.000 over a DD of 10.000. They can't have these conditions and then blaming that some people to "got lucky".
This specific trader has spent 20k+ on challenges that he lost and then made the 20k back in one 100+ lot trade. Yes he got lucky.
I'm not a petulent child and accept that even if your car can go 200 it doesn't mean you are allowed to go 200. And so I don't get into false moralizing, I just make sure that my trades are defensible and try to extract as much as I can.
  • #34,462
  • Apr 9, 2024 6:22am Apr 9, 2024 6:22am
Quoting noox
{quote} This specific trader has spent 20k+ on challenges that he lost and then made the 20k back in one 100+ lot trade. Yes he got lucky. I'm not a petulent child and accept that even if your car can go 200 it doesn't mean you are allowed to go 200. And so I don't get into false moralizing, I just make sure that my trades are defensible and try to extract as much as I can.
It's a bad example.
The right example is the police selling you cars that speed up up to 200, advertising that the car is speeding up to 200 and then fine you because you were speeding at 150. So why are they selling that in first place ?

If props don't want people to be "lucky" they should decrease leverage. What's the point of offering 1:1000 if not to atrtact some gambler trying to be lucky ? Are they stupid or hypocrite or both ?

Having spent 20k+ challenges didn't seem to bother them while we was not "lucky", right ?
If they wanted to end that behavior and avoid risking that he may become lucky, they should have cut him from purchasing more challenges or, at least, limit his leverage.
But, no, they enjoyed his money while he was a gambler "not lucky".
  • #34,463
  • Apr 9, 2024 6:26am Apr 9, 2024 6:26am
Quoting TrAndy1
And one question, how do they measure 2% risk per trade when they do not measure realtime equity and no SL are required ? You could have a larger SL and then change the SL after trailing on profits. Then it always looks like almost no risk. Otherwise they must look on each trade (per hand?) if it was below 2% equity meantime.
That's my question. If SL is not mandatory they can only measure risk after the trade is closed and measure if the loss was +/- than 2%.
What about the winning trades ? They will never know where the stop was.
What about trades that are split, like 5 lots and we enter 3 lots now and 2 lots later. It's the aggregate 5 lots ? Will the system be prepared to look into aggregate positions ?
This kind of rules is a fertile field for scammers to deny accounts and payouts.
  • #34,464
  • Apr 9, 2024 6:32am Apr 9, 2024 6:32am
Quoting Capablanca
{quote} WTF ?! That seems like a secret stuff. I didn't even know that they have a Discord. That's not mentioned in their site. {image} The same happens in their emails. No mention to Discord: {image} Am I supposed to guess it ? Are they looking for 007 people ? Where do we see their Discord link ?
Once you are live, in your hub, there is a discord link.
Attached Image (click to enlarge)
Click to Enlarge Name: 5%ers hub.PNG Size: 2 KB

Yours may look different as I am in the leper "new hub"....you know, for us lepers from the USA.
  • #34,465
  • Apr 9, 2024 6:35am Apr 9, 2024 6:35am
Quoting pipmaster77
{quote} Once you are live, in your hub, there is a discord link.
I see it now.
I entered in discord, accepted the rules, can see all the channels but nothing pops up offering me to purchase another 100K beasides the funded account I already have. I would definitely buy another one.
  • #34,466
  • Apr 9, 2024 6:37am Apr 9, 2024 6:37am
Quoting TrAndy1
Just seen a denied funded account from Funded Engineer. The leverage was around 1:10 used for trading Gold, which was swing trade and then 300k got passed. Clearly not the fault from the trader, this cannot be classified as gambling. Idk what, but this FE prop seems odd now. Any other stories from this or other props here ?
Funded Engineer came forward and explained it. There was miscommunication, clearly, but the wrongdoing seems to be (and confessed) by the trader himself.
https://twitter.com/EdwardXLreal/sta...46496298467590
(response in the thread)
  • #34,467
  • Apr 9, 2024 6:39am Apr 9, 2024 6:39am
Quoting noox
{quote} This specific trader has spent 20k+ on challenges that he lost and then made the 20k back in one 100+ lot trade. Yes he got lucky. I'm not a petulent child and accept that even if your car can go 200 it doesn't mean you are allowed to go 200. And so I don't get into false moralizing, I just make sure that my trades are defensible and try to extract as much as I can.
Why didnt they ban him when he was spending 20K with the exact same trading behavior but blowing accounts?
  • #34,468
  • Apr 9, 2024 6:48am Apr 9, 2024 6:48am
Quoting Capablanca
{quote} That's my question. If SL is not mandatory they can only measure risk after the trade is closed and measure if the loss was +/- than 2%. What about the winning trades ? They will never know where the stop was. What about trades that are split, like 5 lots and we enter 3 lots now and 2 lots later. It's the aggregate 5 lots ? Will the system be prepared to look into aggregate positions ? This kind of rules is a fertile field for scammers to deny accounts and payouts.
I guess they only check this 2% rule if you pass the challenge or are about to request big payouts (5K,10K or more).

Like some firms offer and advertise 1:100 leverage, if you use 1:70 and fail the challenge, they are just happy and don't care how you fail; but if you use 1:70 and pass the challenge/or make large profits on funded accounts, they investigate your trading records and accuse you of over-leverage/gambling...
  • #34,469
  • Apr 9, 2024 6:59am Apr 9, 2024 6:59am
Quoting ladder
{quote} Some youtube videos say their ftmo swing accounts leverage was reduced to 1:5 . You have 400K allocation, and it seems that you can make 10% or more per month. You are a huge liability to FTMO.
What do you mean?
Isn't "your success is our success" applicable here?
  • #34,470
  • Apr 9, 2024 7:02am Apr 9, 2024 7:02am
Quoting Capablanca
{quote} Do you see the contradiction ? Providing 1:100 leverage and them claiming that people got lucky. 1:100 is in fact 1:1000 because they provide purchase power of 10.000.000 over a DD of 10.000. They can't have these conditions and then blaming that some people to "got lucky".
Right, because if they trade like that and "don't get lucky".....well, of course, then it is OK.
  • #34,471
  • Apr 9, 2024 7:06am Apr 9, 2024 7:06am
Quoting pipmaster77
{quote} What do you mean? Isn't "your success is our success" applicable here?
Hi Pipmaster,
Hope it is ok to ask you a few questions here? I know you are very fond of Davit's pivots and that you also use Quantower. I was just wondering have you managed to add any kind of pivots to Quantower charts? I can't seem to find them, even standard ones? (P.S. Still in learning mode :-) )

Also, I know you said you are still using MT4 platforms for your charting generally, but is your MT4 NQ price, for example, the same as it is in the Futures market? My MT4 provider has a large discrepancy between the CFD price and the Futures price for Quantower at least., although the movement is almost identical.

Kind regards,
  • #34,472
  • Apr 9, 2024 7:09am Apr 9, 2024 7:09am
Quoting TrAndy1
And one question, how do they measure 2% risk per trade when they do not measure realtime equity and no SL are required ? You could have a larger SL and then change the SL after trailing on profits. Then it always looks like almost no risk. Otherwise they must look on each trade (per hand?) if it was below 2% equity meantime.
It is not about the risk per trade or better yet, getting stop to BE for no risk...... many times you can set yourself up to flip an account with zero risk, lot of small losses and BE trades in the process, you would think that would be ideal, BUT......the risk to them is YOU WINNING, period, end of story.
  • #34,473
  • Apr 9, 2024 7:10am Apr 9, 2024 7:10am
Quoting labu
{quote} Or maybe people are just afraid to get sued if they mention something negative, as been the rumours around here before. Something is up with FTMO for sure. They even increased the sketchy marketing tactics, which I mentioned 1 year ago was used by MFF and why I never touch it. Few months later and it disappeared forever. Im more in it for the longterm unlike how most here view prop firms. Im surprised to see that Apex is still around, they carved through the futures prop firm industry like butter with their discounts so cannot complain too...
lol.....you're going to not pay me and then sue me if I say something?????Yeah, good luck with that.
  • #34,474
  • Apr 9, 2024 7:12am Apr 9, 2024 7:12am
Quoting noox
{quote} This specific trader has spent 20k+ on challenges that he lost and then made the 20k back in one 100+ lot trade. Yes he got lucky. I'm not a petulent child and accept that even if your car can go 200 it doesn't mean you are allowed to go 200. And so I don't get into false moralizing, I just make sure that my trades are defensible and try to extract as much as I can.
But it was OK to lose 20K trading in the same manner he won 20K, correct? See the problem?
  • #34,475
  • Apr 9, 2024 7:18am Apr 9, 2024 7:18am
Quoting TortoiseFX
{quote} Hi Pipmaster, Hope it is ok to ask you a few questions here? I know you are very fond of Davit's pivots and that you also use Quantower. I was just wondering have you managed to add any kind of pivots to Quantower charts? I can't seem to find them, even standard ones? (P.S. Still in learning mode :-) ) Also, I know you said you are still using MT4 platforms for your charting generally, but is your MT4 NQ price, for example, the same as it is in the Futures market? My MT4 provider has a large discrepancy between the CFD price and the Futures...
Yes, charting is in MT4. I only trade indices these days, so while weekly pivots may provide confluence, I use daily pivots and ADR, of course paying attention to PA, fundies, market sentiment as well.
Actual price is different, but as you stated, they move the same....if price is 100 points off, then so are entries and exits. Works just fine.
  • #34,476
  • Apr 9, 2024 7:26am Apr 9, 2024 7:26am
Quoting Capablanca
{quote} I see it now. I entered in discord, accepted the rules, can see all the channels but nothing pops up offering me to purchase another 100K beasides the funded account I already have. I would definitely buy another one.
Can click on new. There should be option to buy another 100k. Previously, it was greyed out.
  • #34,477
  • Apr 9, 2024 7:28am Apr 9, 2024 7:28am
Quoting Capablanca
{quote} I see it now. I entered in discord, accepted the rules, can see all the channels but nothing pops up offering me to purchase another 100K beasides the funded account I already have. I would definitely buy another one.
Sorry, wouldn't know......us lepers are not allowed to purchase anything new from them.
  • #34,478
  • Apr 9, 2024 7:42am Apr 9, 2024 7:42am
Quoting labu
{quote} Or maybe people are just afraid to get sued if they mention something negative, as been the rumours around here before. Something is up with FTMO for sure. They even increased the sketchy marketing tactics, which I mentioned 1 year ago was used by MFF and why I never touch it. Few months later and it disappeared forever. Im more in it for the longterm unlike how most here view prop firms. Im surprised to see that Apex is still around, they carved through the futures prop firm industry like butter with their discounts so cannot complain too...
1 year back FTMO and all forex prop firms are in same situation. It is all mathematics more signups no payout issues.
If anybody is living in illusion of A-Booking and B-booking crap should learn from FTMO
It all depends on CFTC as long as futures have their blessing they will thrive.
Also futures prop firms give illusion of cheap challenges for example forex prop firm will have 500$ for 100K account (10K drawdown) where as futures prop firm will give 80% discount will still more expensive (34 + 140$ = 210 for 2.5K drawdown for 50K account) so total would be 840$ for same 10K TRAILING DRAWDOWN.
Plus consistency rule plus withdrawal limitations so they have more odds in their favor.
  • #34,479
  • Apr 9, 2024 7:44am Apr 9, 2024 7:44am
Quoting pipmaster77
{quote} of course paying attention to PA, fundies, market sentiment as well.
So basically you do all your pivot studies etc on you MT4 charts. Thank you.

With respect to fundies I'm familiar with Davit's comprehensive approach outlined here:

https://www.forexfactory.com/thread/...2#post12709482

But I wonder Pipmaster how you go about determining market sentiment, or do the two areas overlap?

Kind regards,
  • #34,480
  • Apr 9, 2024 7:58am Apr 9, 2024 7:58am
Quoting TortoiseFX
{quote} So basically you do all your pivot studies etc on you MT4 charts. Thank you. With respect to fundies I'm familiar with Davit's comprehensive approach outlined here: https://www.forexfactory.com/thread/...2#post12709482 But I wonder Pipmaster how you go about determining market sentiment, or do the two areas overlap? Kind regards,
It's fine to ask help to put Quantower to work with props but if you want to discuss trading strategies please open a separate topic. This thread should be used just related with props. Thanks for your understanding.
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