samfelly:


https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1396&rx=1628683223578 - Sweet Motivation (Live Accounts)

https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1397&rx=1628683170310 (Sweet Motivation (Demo Accounts)

CC: Feshizzy, Gabsonfx, MONEY247, Kaesyrn, KingPipmarshall, CopyJoe, charly20, Forexislife, Ogashman

This is it house!!!

samfelly:
Boss, I want to change my simple mind o. I dey smell BUY (4H), starting now, for the rest of the today o

samfelly:
BUY XAUUSD NOW!

And, I hope this SL is tight o! For once, make I still leave my winning trades to run for 5 hours, too. If e no Long for that 5 hours, make SL hit! All 'dye' na 'dye'

PS: May Day, May Day, Wrong call. SL hit! I repeat, SL hit

samfelly:
XAUUSD just dey tortori me. Hmmm, I hope dis buy go reach 1800! Now at 1745, dis minute

Feshizzy:


You are given a 1,000 account and a max DD of 5% which is 50.

It's not the same as given a 50 account with a max DD of 5% which is 2.5 usd

femora007:
u don't get it.
It's the same as $50 account with 100% max drawdown (self funded)

samfelly:


Hmmm. I am simply dump founded after seeing (d bolded) what you said you have lost.

Come to think of it, Covid19 loan money even join with those numerous lost. But, bro, you get mind o. Pressure go full your head now o, if u reason how u go take pay Federal Republic of Naija back when dem come knocking.

Of late, I dey contemplate selling my Golf 3 Wagon, wey I take dey do taxi, to take fund my account with $1,000 and have rest of mind and freedom to trade PROPER, but liver still dey cut me - like what if I blow it! So, dey small small N10k, N15k, from taxi work at month end, I take dey fund, so far, till today. Ah!!! I have to give it up to you, again - You Get Mind!

Anyways, I don't know what to say again other than E Go Beta

femora007:
u don't get it.
It's the same as $50 account with 100% max drawdown (self funded)

Forexislife:
Sold gold **44.00. 50 pips SL, TP open

BrightFuture48:

OK I see... This what GabsonFX was driving at indirectly. But let come to think about critically what is difference?

Prop firm = $50 ---5% DD on $1000 (lev 1:5) (max lot 0.3) or
Self funded = $50 ---100% DD on $50 (lev1:200) (max lot 0.3 or more)

They are basically the same thing. And it more logical to trade it on my own than give it out to any prop firm to "swallow" lol. This means that, most if not all online prop firm are "fake" except

GabsonFX:
I'm glad you see why I stopped explaining further to avoid unnecessary arguments.

Above all, prop firm is best if you can take a challenge with them, prove your capacity by meeting their objectives without violating their set rules. you get your challenge money back and get a huge amount from them; they become useless when you do challenge 3 to 4 or more times

I will use FTMO's lowest package as an example:
pay €155 ~ US$181 (90K naira) for a $10K account, win it, and you get a $10K funded account - max drawdown is 10% ($1,000)
Structure your mind such that you use US$181 to buy a $1,000 account from them, bonus is, you don't end up paying the $181 cos you are refunded after you pass the challenge and verification......This is how I go about with them.
At the end of the day, what this means is that you paid nothing to receive a $1,000 account which you wouldn't have been able to start with without this support.

The big problem here is if you lost the challenge, then you have to do it again and again, but the good news is: you are still on the gaining end if you do not relent, say you do it 4 times and lost all ($181 x 4 = $724), by the time you do it the 5th time and win, you end up with the $1,000 capital from them which is still counted a gain for you.

Above all, prop firm is the best if you can take the challenge once or twice and will, anything beyond that: I would rather save good money and go for a broker, and build my account with them.

BrightFuture48:

I concur with your final conclusion here. And I think FTMO seems to be somewhat transparent with what they are giving you and what their model look like.

Thanks for that detailed analysis.

Feshizzy:


Do you intend to make profit or loss,
I don't understand why the emphasis on this 5% DD

Would you give someone without any track record your account to trade as he or she likes?

They are offering a platform to maximum your skills and gains at the same time at a fee that on a normal day your account won't survive it.
I don't see the big ish there,

So what do you suggest,
You use 50 usd to secure a 100,000 account?

Fxwarrior:
XauUsd

Buystop @ 1755
Stoploss 1745

Target 1770

samfelly:
XAUUSD just dey Buy like mad man wey escape from Yaba Left. And I run check ForexFactory, I no see any special news for such waka. Abeg, who know wetin FF no know?

GabsonFX:
[color=#000099]Yes bro, FTMO is the best and No. 1 of them all, I have tried others like the TCF, 5ers and have separately analyzed myforexfunds, Buoytrades, and the likes without trying them - I realized their schemes are to make you lose now or just in the very nearest future, any objections to this, I will reserve my views for another day.

My final advice to everyone here who wish to at least earn good (even for a living) in this business is to visit the FTMO site, choose a program, write out their goals, open a demo account for exact same program parameters but with a (different) broker, link the account to FF to monitor your progress, and see if you can meet their objectives in 2 or 3 tries (Do this instead of their provided trial).........if you meet them, then go ahead and challenge them[/color]

Fxwarrior:


Don't get carried away with the bulls.

I should expect price to enter SELL at 1770 down to 16xx by Friday.

In that case, you place a sell limit at 1770

Stoploss is 1775

Target: Close by 5pm today if you are a day trader or close by tomorrow if you are a swing trader.

NB: If you are a discretionary trader, wait for 4 H confirmation around that region to sell.

charly20:

For me o, gold is so "all over the place" for me to place any order. I may leave her till the end of the month sef and look at the other four ladies on my list

No, Gold na 'Evil Spirit'. If one can tame it, it definitely will reward one

Oya, list the other four ladies o, make we follow dey observe, also

samfelly:


No, Gold na 'Evil Spirit'. If one can tame it, it definitely will reward one

Oya, list the other four ladies o, make we follow dey observe, also

charly20:


If I have a one-time $181, would you rather advice that I take FTMO or trade it myself when I'm ready to do live?

GabsonFX:
Do NONE of that....do the model below and if you win, go for the challenge: Here is a simplified or actual model of their challenge.

Open a demo account of $1,000 with a 2000:1 or 1000:1 leverage with any broker.
See if you can double the capital, i.e, see if you can earn a $1,000 profit within 20 business days without your balance (notice I said balance not equity) dropping to $500 in any day & without you blowing the $1,000 capital at any time.

If you achieve this twice, then take the $181 and challenge them.

GabsonFX:
Do NONE of that....do the model below and if you win, go for the challenge: Here is a simplified or actual model of their challenge.

Open a demo account of $1,000 with a 2000:1 or 1000:1 leverage with any broker.
See if you can double the capital, i.e, see if you can earn a $1,000 profit within 20 business days without your balance (notice I said balance not equity) dropping to $500 in any day & without you blowing the $1,000 capital at any time.

If you achieve this twice, then take the $181 and challenge them.

samfelly:


Make I follow this model u just outlined here, too.

But, boss, any reason for the high leverage?

GabsonFX:
The model is meant to imitate their challenge of $10,000 capital with leverage 1:200 but 10% max DD.

GabsonFX:
Gold Outlook - waiting for a break of that yellow price, short continuation; else, I ignore

BrightFuture48:

May I know why you object to taking their free trial directly? Why need for separate account you described above.

Isn't it a good practice to aim achieve 10% even within their 15 days trial version without developing unnecessary trading habit.

What's your opinion?

Haahahahahaah, I'm 0% Fundamental, I don't open news for once sir...

I plan to enter by today's if the analysis plays out, news regardless.

samfelly:


Boss, is this USD news in-line with your bias? Are we Shorting, yet?!!!

GabsonFX:
Haahahahahaah, I'm 0% Fundamental, I don't open news for once sir...

I plan to enter by today's if the analysis plays out, news regardless.

Okay, mate

GabsonFX:
Open a demo account of $1,000 with a 2000:1 or 1000:1 leverage with any broker.

GabsonFX:
The model is meant to imitate their challenge of $10,000 capital with leverage 1:200 but 10% max DD.