Kaybee7000:





Today is 6th of January na,why can't u test run it this month? Abi this month own don sup

Ibrahimlagosian:
Mahn on a losing streak.

5 losing trades in a consecutive row, lost 1.8%, account down at -3.7% drawdown.But what can man do, effective risk management and discipline is a must😪.

But one must look unto what went wrong though.

GabsonFX2:
The year's theme: Go harder

GabsonFX2:
I have said this before: Winning a prop firm account is to first win them based on their model presenting itself as edge and getting maximum value for your money, check their Overall DD and Target: 15% and 8%; these beat all other prop firms.

Hence, there is a BIG BIG Guarantee that I will win those accounts, I will get refunded my challenge fee: making it a win-win for me and zero risk. As for payout: I was on a big chat with them about inconsistency rules, I don't like it but then again; the main perk here is the DD and Target and that I will win the account.

- The HFT you mentioned is a separate/different model designed for those that trade it, if you trade normally, standard accounts are there to be purchased.

- The minimum account $25K you mentioned is not a reason to make them red flag, some do $50K minimum.

After being funded, imagine having to play with a whole 15% of the account unlike the regular 10%, 8% and even 6% as is for 1phase challenge. A lot played out in my head. I then sat down with pen and paper strategizing & coming up with a plan on how to beat the consistency rule - After which I then confidently purchased their accounts. Payout is real sure, now, I will then wait to see if they will pay me: that's when I can boldly say they are fishy.

GabsonFX2:
Don, let's discuss this: instant funding.

I'm surprised to see that they have drastically reduced their account size, it was about 50K minimum. What do you see about the prices? Fair or Unfair.

elder1002:
What is your expectations for the dollar??

Davigle:
Evening folks, I was just studying the charts and then I stumbled upon cadchf, the last time I posted an update on it was on Dec 23, last year. I'm quite impressed to see price delivering as I had anticipated, and the bias still remains short cadchf. Ps this is not a trade call, but a study of price action...

Cc: ibrahimlagosian

nzechu:
u are bullish on the dollar, that's usdxxx (eg usdchf) and bearish on cadchf, a correlating pair

Davigle:


If you look at the fundamentals of both cad and the chf, the cad is much weaker than the chf. I will write a fundamental analysis of the two and paste it here later on.

HeatSeeker:
I have a curious question. How do you determine where to place your stop loss and take profits?

kellybently:



Your risk reward ratio 'll determine your stop and take profit
Also if you have an exist rule in your strategy

GabsonFX2:
The year's theme: Go harder

GabsonFX2:
Look at the price for $80,000 account = $3,460
10% DD, no target, no daily drawdown - this exactly makes it a non-prop firm account but a personally funded portfolio

It's just best to see myself trading an $8,000 personally funded account with a 70% profit share.

You now have to think of having an edge, my edge is going to be the moment I recover my deposit ($3,460), also, how many % is required to make this to become a zero-risk and win-win on my side? Let's do the maths. Let's call that % a variable x.

(x% of $80,000) * 70% = $3,460

x = 6.178%

This means, Although instantfunding does not require any take profit for this account type; I will however, set my very own profit target to 6.18% from my 1st trading cycle and since there is no trading days limit - I wouldnt mind taking my time 1month, 2months to achieve this.
70% profit share on my 6.18% profits would return my challenge fee of $3,460 thus placing me on the zero risk and win-win stance. The subsequent profits on the $80,000 then becomes my gain (70%). I would not mind targeting only 3% on each cycle (profit share gets me $1,680 on each cycle)

Now compare this model to the 1-phase and 2-phase. Here you only need 6.18% to breakeven, on those ones, you need 10% for phase 1 and 8%+5% on 2-phase. Logic right?

I will join them soon.

Davigle:


check my charts in the previous page
I'm bullish in the coming week, the only challenge here is CPI

Geovanni412:
Skilled funded traders competition seems a good avenue to get a free prop firm acct

They offer free 5k acct once you can hit 20% target

Petah:
is it for February competition?

Geovanni412:
Skilled funded traders competition seems a good avenue to get a free prop firm acct

They offer free 5k acct once you can hit 20% target