Petah:

Boss, I hail o. Quick question, do you swing trade or day trade sir??

PrinceofWallstr:
First position- $50k mff evaluation challenge and 5k MTN sub.

2nd place - $10k Mff evaluation challenge with 10k MTN sub.

3rd place -5k MFF ...

Riverrun:
@samfelly, please I want to suggest something we all may like or not like. Please guys, this is only a suggestion and it's not a necessity for it to be taken or considered.

We having been having good competitions here for a very long time now, all thanks to some Ogas who has been sponsoring.

God bless infofirst, pipsbasketing, animashaun, teemy and a host of others who have sponsored and impacted lifes in some many ways here at one time or the other.

Now to my suggestion, this competition can be
like no other if we have more winners so we can have a better probability of more traders who can make it to withdrawal stage. That's the real success.

So I think that the 50k account should be two 25k account or even five 10k account to reward more winners instead for a better probability of success. What I am saying is let's not put 50k just on one trader.

Please no insult guys, it's only a suggestion for FTA to record bigger success this season with our activities here. Maybe becomes thread of the year.

Anyone who didn't succeed with this can only blame themselves. The Sponsors and good members have tried.

Thank God date of competition still far . We go thoroughly treat every issues and be satisfied with the end agreement. If majority are in support of dis suggestion, so be it. Mind u, I love the idea, as well

samfelly:


Ah! bros, I don realize and even over realized it. That use of big lot to hurriedly catch big money na gamblers' attitude. My experience don dey plenty for this business and I am learning to not make more of such mistakes o

samfelly:




Thank God date of competition still far . We go thoroughly treat every issues and be satisfied with the end agreement. If majority are in support of dis suggestion, so be it. Mind u, I love the idea, as well

charly20:
While the thought of competition and the prizes to be won dey give men joy, if you sef hit DD before 3 days of trading, no too reason am, just use the competition as a means of family bonding. It simply mean say you never reach to do prop firm.

People like me don shelf the thought of prop firm account for now till we get some kain things straight. Yes, even if I win (hypothetically speaking ).

Just like my boss infofirst, I see reality through pareto principle. To be 20% no be here and it begins with self awareness; telling yourself the truth as it is so that you can adjust accordingly.

Some of us get the advantage of time, make we use am well.
Some of us in the next 10 years no go don even clock 35 years.

Take am slowly.
Family house sweet die

charly20:
While the thought of competition and the prizes to be won dey give men joy, if you sef hit DD before 3 days of trading, no too reason am , just use the competition as a means of family bonding. It simply mean say you never reach to do prop firm.

People like me don shelf the thought of prop firm account for now till we get some kain things straight. Yes, even if I win (hypothetically speaking ).

Just like my boss infofirst, I see reality through pareto principle. To be 20% no be here and it begins with self awareness; telling yourself the truth as it is so that you can adjust accordingly.

Some of us get the advantage of time, make we use am well.
Some of us in the next 10 years no go don even clock 35 years.

Take am slowly.
Family house sweet die

Donsheddy:


Real matters oh..
To climb into that 20% no be come chop oh...
I don hold brake carry head down dey dig out the secret to enter that 20% i no care how long e take...
The joy be say any day you crack am 6 months too much self money go just full everywhere...
So why not take the time and crack this shit 😂

Riverrun:
I remember your case. That's why I am saying one person should not be getting 50k account while others get nothing. If I have @samfelly kind of power, that 50k is better splitted to five 10k account to cover more winners.

Proudpolygamist:


Nice observation! Pls let's explore the best legit option.
E go better make we jux use MFF to avoid story that touch las las ontop say we wan take advantage of Okpor Propfirm o

charly20:
Some bosses go don dey calculate which pairs dem go use show us shege and how dem sef go do like man city top league table.

Imagination go wan wound everybody 😂😂

Aswear . My own na make FTMO just announce say dem don add Step Index join their instruments o . While Meshpips own go be Power 200

samfelly:




Thank God date of competition still far . We go thoroughly treat every issues and be satisfied with the end agreement. If majority are in support of dis suggestion, so be it. Mind u, I love the idea, as well

TradingMaestro:


Myfundedfx 8% total loss is too small

Consumate traders gives 12% and 60 days to make 8%.

If you cant make 8% for phase 1 in 60 days then no time limit wont make a difference

dottozil:


I see no reason why individual suggestions should matter as regards to competition here, it's obvious majority of us here are still newbies, the experience of someone who has been trading for more than 6 years would be invaluable when compared to a newbie , that's why the experienced traders in the house should set the rules and guidelines so we follow simple.

Tradinggiant:
Omo .. after this Patience talk I read here.. I began to reflect on it.
Market day actually rewards the patient traders fr.
If u get one pair way day work for u, TRADE AM and take whatever that pair gives u oo.. if the pair require you to wait for 1 week ,My brother better wait oo.

I've come to realize that alot of people get intimidated by other people's profit
And it's very bad. And it results to overtrading

Imagine not seeing setup for 5 days then you come online (Twitter mostly) to see people bagging over $5k . $7k .
Una Sabi how Twitter people day talk na.

TWITTER TRADER 1
# woke up today and my Trade is running over $18k. What a great way to start the week

TWITTER TRADER 2
MFF $100K Phase 1 and phase 2 passed in 3 days!!!
( While u urself never trade for 5 days )

E go come be like say u day play.
Na this moment ur brain go tell u say ur strategy day slow your progress.
With that pressure, u go jump enter market then collect wotowoto

No look person profit, Just do ur thing and move on

The journey Sha na personal race.

rainlover:
myfundedfx no time limit is far better boss. 8% drawdown with no time limit is cool. Traders only need to adjust their lot size to fit into the 8% max drawdown.
Person wey no fit pass 8% profit target without any time limit can never pass 8% profit target in 60days. Na to use the right lot size.

Tradinggiant:
Omo .. after this Patience talk I read here.. I began to reflect on it.
Market day actually rewards the patient traders fr.
If u get one pair way day work for u, TRADE AM and take whatever that pair gives u oo.. if the pair require you to wait for 1 week ,My brother better wait oo.

I've come to realize that alot of people get intimidated by other people's profit
And it's very bad. And it results to overtrading

Imagine not seeing setup for 5 days then you come online (Twitter mostly) to see people bagging over $5k . $7k .
Una Sabi how Twitter people day talk na.

TWITTER TRADER 1
# woke up today and my Trade is running over $18k. What a great way to start the week

TWITTER TRADER 2
MFF $100K Phase 1 and phase 2 passed in 3 days!!!
( While u urself never trade for 5 days )

E go come be like say u day play.
Na this moment ur brain go tell u say ur strategy day slow your progress.
With that pressure, u go jump enter market then collect wotowoto

No look person profit, Just do ur thing and move on

The journey Sha na personal race.

rainlover:
myfundedfx no time limit is far better boss. 8% drawdown with no time limit is cool. Traders only need to adjust their lot size to fit into the 8% max drawdown.
Person wey no fit pass 8% profit target without any time limit can never pass 8% profit target in 60days. Na to use the right lot size.

EmmanuelVi:

Length of time one has spent in the trading world doesn't really matter to the art of trading itself; it's about 'how well', not 'how far'.
Sorry I gave you guys a long read (for those wey even try read to this end.. Lols)

BrightFuture48:

Technically all these options are the same except for no.1.

However, since the highest price in this competition is 50k challenge account then is make sense to have similar trial account in that amount.

So I will go for option D, 50k with 0.5 max lot and 2 positions at a time.

I no succeed in confusing dem, abi? I go try harder next time

charly20:



Why not open a live account even if with $100. Work with your strategy on only 2 pairs at most.

If you risk $2 per trade, you will have to lose 50 times in a roll to lose the account.

If you risk $4 per trade, you will have to lose 25 times in a roll to lose the account.

If you risk $5 per trade, you will have to lose 20 times in a roll to lose the account.

What are the odds your strategy will fail these number of times?

This will help you cherry pick your trades and help you build the proper psyche for a prop firm account.

You have to be strict with it so that time will not pass with you having nothing to show for your efforts.

Be well

klinksd:


Sam the fella, I know say for your mind true true nah that 'D' wey you want...

Me sef na 'D' too.

EmmanuelVi:

Length of time one has spent in the trading world doesn't really matter to the art of trading itself; it's about 'how well', not 'how far'.

I began trading in 2017, but guess what? I only just became a trader (well principled) by 2020, during the COVID-19 lockdown. I've just browsing through all the commentaries on the upcoming competition without giving any input, not because I wouldn't want to compete (I mean it would be fun of course, even if I don't bag first place), but because of the rules imposed on risk and money management and that's the most crucial aspect of my trading career, I don't joke with that part cos it's all crunched in the numbers for me, it's applied statistics!

I see the imposed rules as biased (not as in a matter of contempt or greed, no!), biased in the sense that the rules on lot sizes are coming from one school of thought as regards risk management in trading. There 3 distinct ways that risk management can be applied in trading (at least, for what I know so far) two seem to be alike but they're actually different, they are;
(1) by lot sizes
(2) by dollar amounts (or whatever currency account's based in), and
(3) by percentages.

Now the rules here stipulate the 'lot sizes' method which is a total turn of for me as one who uses percentages. I let the stoploss price range of every trade I take decide what lot size I'd use, since I've already decided the percentage of my account balance that I want to risk on each trade. The majority pushing for the competition are coming from the same faction and the few of the minority like me just have to stay back, fold our hands and watch. The last guy that spoke up on this just got shut off without actually understanding him.

If traders like me bow to the risk management rules of this competition, believe me it would make a gambler again instead. It should be noted that lot size limitation doesn't fit into some traders trading plan; this is my input.

Sorry I gave you guys a long read (for those wey even try read to this end.. Lols)

samfelly:


I no succeed in confusing dem, abi? I go try harder next time

PrinceofWallstr:
So we actually have bright minds here? I'm so impressed.

Lets fix date guys, I will not be in Nigeria from nextweek, it might affect my activities here. So like I said any day after 16 is cool for me cuz I will be online by then.

Have seen lots of complaints about the prize sharing, I think I need to readjust , no more Data subscriptions.

Ist position= $25k
2nd position =2* 10k
3rd position $10k
4th position $10k.
5th position $ 5k
Organizer 10k MTN data plan
All accounts ( Mff evaluation challenge account)

I will reach out to you Samfelly, please drop your email, I lost access to my Nairaland email.

Please let everyone participate and showcase their skills , let the lotsize cap not affect swing traders, I don't know if is it's possible to modify the daily drawdown to be 2%?