Lanshile:
Praisegod4u
I think I'm finding it hard to understand the meaning of their balance based
I've been putting different meaning to it which doesn't favor me

infofirst:



Make una no dey stress this matter.
All forex brokers for retail traders make money when traders lose.

If you want to trade serious and as a pro.. You need lots of money where you will trade with 1:1 leverage.
Minimum deposit go b like $25,000.. Una retailers get wahala. Some folks just use their hand to take risk and started retail trading to bet against our trades since they are very sure 95% will end up losing.

Make una stop stressing with all this a book b book.. If broker don pay you. And their platform Seamless. He don do.

You can dm me when you have $100,000 to deposit and I will tell you a real forex broker you can trade with. Where all these bullshit do not exist. Poor man get wahala I dey tell you. Na them no get money, na them go still dey look for first class services.

OfficialP:
What's the plan for next week

infofirst:



Reality we shy away from. Failing to fix the problem within and looking for who to put the blame on.

My account is $100,000.
Pending buy order 5Lots on Gbpusd. My system is 100win rate...
Common. But when I am hitting tp, no wahala
When I get hit... Brokers are manipulators..

I don't get.. How can market makers be after our demo accounts.....

Na the big players dey do real stp.

Las Las, na demo all retailers dey trade.

AK284:
Pls where is supremefx?
What promo is on Maven?
I mean what the promo code for the 40% promo?

Ibrahimlagosian:
Looks like we're nosediving next week

OfficialP:
which market

Riverrun:
I will be posting all my positions for the September competition road to tft 25% .

Any interested person can copy the trade to either pass with me or fail with me.

Terms:

If you fail with me, please do not hold me responsible for your failure.

But if you pass with me, just organise yourselves together and volunteer one person's award to add to my own.

I don talk my own finish,

Ibrahimlagosian:
Xxxusd,us30,us100

Riverrun:


I think you should takeout time to research and read about it for better understanding.

But one thing I must tell you is no matter what you read about it, you still won't get the true picture until you have traded in both Markets then you notice how they both work.

I think one or two guys here have explained it before but I will try to also break it down details by details before the end on today so the confusion can go to sleep once and for all.

rainlover:
When I first came online this evening and saw plenty pages, I rushed to check what meshpips must have done again this time 😁

rainlover:
When I first came online this evening and saw plenty pages, I rushed to check what meshpips must have done again this time 😁

Davigle:


No sir. I don't, I'm still a neophyte as I haven't gotten to the stage yet. I recently started the core content mentorship and I'm still in month 1. I'm taking my time as I don't want to rush through them. although I have gone through the market maker primer and series, and also mastering high probability scalping. started the 2022 mentorship but was kind of difficult for me so I stopped at episode 9.

Riverrun:



See the two senerios that shows how an account size with $100,000 starting balance works for;
(1) balance base
(2) equity base
Where the daily drawdown is 5%.

Note that the starting balance can be any amount. For this explanation, we have chosen to use $100,000 as our starting balance.


(A) BALANCE BASE:

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

i) if you are in a loss trade and your $100,000 account gets to $95,000 and below then you have hit your 5% daily DD limit.

ii) if you are in a profit trade and your hit $105,000 and above you have expanded you daily DD limit. You now have more money to play with for that day (Note this is not so in equity base).
for you to hit daily DD would only be when you loss all your profits for that day and the account continues to go down until it reaches $95,000.

iii) if at the end of the day1, you ended in profit. Let's say $107,000 then for day2 your daily DD limit would be $101,650.
(How? See how.
5% of $107,000 is $5,350.
So 107,000 - 5,350 = $101,650).

iv) this calculation will continue at the end of everyday just as the market rolls over into a new day taking the account/equity balance (whichever is higher when the market rolls over) in consideration.



(B) EQUITY BASE :

Now everything above is same in equity base except number (ii) above.

In equity base, you account is being trailed with the 5% daily DD on every positive price movement above the $100,000 starting balance. Example

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

a) you enter a trade and price movement made your equity $105,000. if price retraces back to $100,000 that same day then you have hit daily DD limit.

b) you enter a trade and price movement made your equity 106,000. If price retraces to $101,000 that same day then you have hit daily DD limit. You don't have more money to play with as balance base provides

c) you enter a trade and price movement made your equity $103,000. If price retraces to $98,000 (not even $95,000) that same day then you have hit daily DD limit.

d) to survive in this kind of market you have no choice than to use a more reduced lotsize that can contain those price retracements to avoid hitting daily DD.

abham:
August fundednext comp:

1.56% profit.

This week is not giving for me. My phone crashed on Sunday last week and I felt lost .Had an avoidable loss and took the opposite side of the trade on NQ after doing analysis on htf.

I also added another position from Thursday and mistakenly closed it before it hit tp because I don't know how to take partials on pc yet.

I am learning to be patient with my setups to fully form.

The goal is keeping the account.

OfficialP:


OK. Can you share chart to support this

Kaybee7000:



He is not the one but almost the same action bro but this time around ,the banter is limited cos of partiality by some people ,it is well sha since the point has been proved , just protect ur own moniker for this competition beofre someone else will come and claim ur prize and start saying u are their sibling and dey are claiming it on ur behalf chief ✌️✌️✌️

Riverrun:



See the two senerios that shows how an account size with $100,000 starting balance works for;
(1) balance base
(2) equity base
Where the daily drawdown is 5%.

Note that the starting balance can be any amount. For this explanation, we have chosen to use $100,000 as our starting balance.


(A) BALANCE BASE:

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

i) if you are in a loss trade and your $100,000 account gets to $95,000 and below then you have hit your 5% daily DD limit.

ii) if you are in a profit trade and your hit $105,000 and above you have expanded you daily DD limit. You now have more money to play with for that day (Note this is not so in equity base).
for you to hit daily DD would only be when you loss all your profits for that day and the account continues to go down until it reaches $95,000.

iii) if at the end of the day1, you ended in profit. Let's say $107,000 then for day2 your daily DD limit would be $101,650.
(How? See how.
5% of $107,000 is $5,350.
So 107,000 - 5,350 = $101,650).

iv) this calculation will continue at the end of everyday just as the market rolls over into a new day taking the account/equity balance (whichever is higher when the market rolls over) in consideration.



(B) EQUITY BASE :

Now everything above is same in equity base except number (ii) above.

In equity base, you account is being trailed with the 5% daily DD on every positive price movement above the $100,000 starting balance. Example

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

a) you enter a trade and price movement made your equity $105,000. if price retraces back to $100,000 that same day then you have hit daily DD limit.

b) you enter a trade and price movement made your equity 106,000. If price retraces to $101,000 that same day then you have hit daily DD limit. You don't have more money to play with as balance base provides

c) you enter a trade and price movement made your equity $103,000. If price retraces to $98,000 (not even $95,000) that same day then you have hit daily DD limit.

d) to survive in this kind of market you have no choice than to use a more reduced lotsize that can contain those price retracements to avoid hitting daily DD.

abham:
On AU, Price has not gotten to lower objective. I am looking forward to next week completing the cycle.

If wishes were horses, traders would ride. I would like to see HOW form on Mon/Tue and maybe the weekly range would be completed with NFP.

I may be wrong but lets see what the markets have for this week.

Ibrahimlagosian:
1-,US100(Nasdaq)--on the daily time frame.there was a decrease in the bullish momentum and it finally made a bearish pin bar,indicating a potential change in market direction.on the 1h time frame,here's the structure change

Kaybee7000:



He is not the one but almost the same action bro but this time around ,the banter is limited cos of partiality by some people ,it is well sha since the point has been proved , just protect ur own moniker for this competition beofre someone else will come and claim ur prize and start saying u are their sibling and dey are claiming it on ur behalf chief ✌️✌️✌️

Riverrun:



See the two senerios that shows how an account size with $100,000 starting balance works for;
(1) balance base
(2) equity base
Where the daily drawdown is 5%.

Note that the starting balance can be any amount. For this explanation, we have chosen to use $100,000 as our starting balance.


(A) BALANCE BASE:

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

i) if you are in a loss trade and your $100,000 account gets to $95,000 and below then you have hit your 5% daily DD limit.

ii) if you are in a profit trade and your hit $105,000 and above you have expanded you daily DD limit. You now have more money to play with for that day (Note this is not so in equity base).
for you to hit daily DD would only be when you loss all your profits for that day and the account continues to go down until it reaches $95,000.

iii) if at the end of the day1, you ended in profit. Let's say $107,000 then for day2 your daily DD limit would be $101,650.
(How? See how.
5% of $107,000 is $5,350.
So 107,000 - 5,350 = $101,650).

iv) this calculation will continue at the end of everyday just as the market rolls over into a new day taking the account/equity balance (whichever is higher when the market rolls over) in consideration.



(B) EQUITY BASE :

Now everything above is same in equity base except number (ii) above.

In equity base, you account is being trailed with the 5% daily DD on every positive price movement above the $100,000 starting balance. Example

Day1; for your $100,000 account, your daily dd limit would be $95,000. Meaning, for that day;

a) you enter a trade and price movement made your equity $105,000. if price retraces back to $100,000 that same day then you have hit daily DD limit.

b) you enter a trade and price movement made your equity 106,000. If price retraces to $101,000 that same day then you have hit daily DD limit. You don't have more money to play with as balance base provides

c) you enter a trade and price movement made your equity $103,000. If price retraces to $98,000 (not even $95,000) that same day then you have hit daily DD limit.

d) to survive in this kind of market you have no choice than to use a more reduced lotsize that can contain those price retracements to avoid hitting daily DD.

hateshit:


Bro,sorry ur explained the balance base perfectly well, but the equity base is quit different from my own experience.
I think for d balance base its d amount of money left in ur balance after u've closed a trade of which I think only FTMO does that even tho other propfirm say dey do, as other propfirm sends u breaching email once ur Losing more Dan 5% in ur trade even when u've not closed d trade yet.
While for d equity base, it's d amount of money u have on ur equity instead of balance that d 5% is substracted from.
Where I disagree with u is where u said if u make extra +5% that very day and maybe placed another trade and lost only d extra 5% u made dat same day dat u've breached d rule. Any amount u made in profit dat day is added to ur dd u would have to lose both ur profit for dat day and also d 5% for dat day before breaching d account.
In mff account analyzer u can see ur daily draw down limit calculated for u already every morning before u start trading, as it's been recalculated at d end of every day.
Just my own perspective Sha from my experience so far in mff and maven.

altteemy:

From that Reddit post, seems them entering into the brokerage business was what hurt them.

Winnerrrr:
Who has read the CFTC complaint, this prop firm game is rigged.

https://www.cftc.gov/PressRoom/PressReleases/8771-23

hateshit:


Bro,sorry ur explained the balance base perfectly well, but the equity base is quit different from my own experience.
I think for d balance base its d amount of money left in ur balance after u've closed a trade of which I think only FTMO does that even tho other propfirm say dey do, as other propfirm sends u breaching email once ur Losing more Dan 5% in ur trade even when u've not closed d trade yet.
While for d equity base, it's d amount of money u have on ur equity instead of balance that d 5% is substracted from.
Where I disagree with u is where u said if u make extra +5% that very day and maybe placed another trade and lost only d extra 5% u made dat same day dat u've breached d rule. Any amount u made in profit dat day is added to ur dd u would have to lose both ur profit for dat day and also d 5% for dat day before breaching d account.
In mff account analyzer u can see ur daily draw down limit calculated for u already every morning before u start trading, as it's been recalculated at d end of every day.
Just my own perspective Sha from my experience so far in mff and maven.