infofirst:


Kindly guide on how to set the Daily DD on fxblue. That will help us open demo account outside of ftmo and we can make use of the one month duration. Its not too late to adjust all that hopefully

KingPipmarshall:
Wahala.

How do I go about this? @everyone.

exmaysn12000:
Fxblue have all the needed parameters, it only requires settings from d host. Daily DD, Maximum DD all can be set.

This way, the competition will run its full course of 1 month.

Ftmo 2weeks trial not good at all. Suggestion is for d next competition since this one is fix already.

KingPipmarshall:
Wahala.

How do I go about this? @everyone.

samfelly:


No Daily DD, mate

infofirst:


I have checked. I noticed they usually disabled it. So We are going to limit the contest period to 14days. We need the ftmo metrix to help us track the Daily DD.

exmaysn12000:


Yep, I just explain how the host, @infofirst can track d Daily DD and disqualify accordingly in my recent post to him

samfelly:


FTMO is really the best approach to help track Daily DD, but the 14 days is frowned upon by all involved. Should we tread Donsheddy's suggestion of TWO PHASING the competition? Though is it a lot of work, I agree

exmaysn12000:


I think it's only the maximum DD u can set on fxblue. I will suggest you put maximum DD at 10% since daily DD not possible.

But you can still disqualify on daily DD, this will be done by you manually, you will just click on each contestant, then click on the person's FX live profile, then click on risk, you will see all you needed including DD drawdown. Like the attached screenshot.

once its more than 5%, you disqualify the person.

samfelly:


Hmmm, the bolded is also another way to go about the Daily DD issue, but it will worn him out, bro. It involves a terrible lots of clicking back and forth o! This approach no go easy for infofirst, chief, believe me

exmaysn12000:


Since we have all created ftmo 14 days trial I think this suggestion is good for this round and u implement the manual disqualification using the steps I gave earlier @infofirst.

So in the 2 phase completion, target should be 5% each then. But what if trader A hit 5% first in phase 1 and trader F hits 5% first in phase 2, how do we select d winner?

Wow, I respect, bro, you really have ur thinking cap on. I never really saw it like this. Thank you.

Hmmm, I still dey ponder on that revelation u made. I don give up

exmaysn12000:


I disagree boSs, this can be done in few seconds per contestant. Just few clicks to check. 3 clicks in total

Yes, 3 clicks forward, but 2 clicks back, to check the next participant. 5 clicks in totally. And how many participants would we be having? And he need to do this every blessed day o. Anyways, if Infofirst sees nothing wrong in doing dat then we are all game!

Abi, make we pay Gasive to go hire person for Oluwole make he create and design website close to fxblue, but he go come add the Daily DD we are all looking for?

jammer777:


Sellers are in already, the MM would be looking to hunt their stop losses around the 1.5910 area and above. I’ll consider selling once I see a sell pattern with a target of at least 50 pips.

Piptocoin:
boss Infofirst, I think the one-month duration is more representative of long-term trading skill rather than the two-weeks duration which will lead to exaggerated results that cannot be duplicated in prop firm environment. Moreover, in prop firm funded account one has 22 trading days to be reasonably profitable.

I was going through forexfactory recently and I read where a guy said ftmo sent him a termination of contract email. The reason for the termination was that his trading style did not match the consistent trading skill they were looking for even though he had been profitable and had received payouts about 4 times from them. He admitted that his trading style included meeting the monthly percentage profit in two days or so and trading 0.01 lots to complete the minimum trading days. He also said the account was not long term as his strategy also blows the account which is why he had a number of ftmo evaluation accounts running alongside his funded account. Ftmo terminated all of them fairly as well as reimbursing him where it was needed and also gave him the value of the profits to which he was entitled for other accounts at the time of the termination.

If, truly, consistent long-term trading skill is required for a venture such as prop firm trading, then I think the competition should be modelled after that. Two weeks is neither too short but not ideally representative of long term goals. This is just an opinion and I stand to be corrected. Thank you (and GabsonFX) so much for all the opportunities....past, present and future (if there will be a future one). My appreciation is verbally inexpressible.

exmaysn12000:


Yep, I just explain how the host, @infofirst can track d Daily DD and disqualify accordingly in my recent post to him

Donsheddy:



that will be stressful.....
and another thing with fxblue one can escape this daily d.d cus fxblue update its record every 1hr abi 30 mins...
the result won't be real time.....

if we really want to go with the 1 month then two phase competition should be it.....

the profit and losses and both phases will be added to give us the real winner....


Example

Trader A made in Phase 1 +3% and in phase 2 + 5% --- Total Profit for trader A = +8%

Trader B -. Phase 1 -2% and phase two +13% ---- total profit +11%


So trader B won the contest...
Something like that.....

Any trader that hits daily d.d shouldn't in phase 1 won't join the phase 2....


Simple

Donsheddy:



that will be stressful.....
and another thing with fxblue one can escape this daily d.d cus fxblue update its record every 1hr abi 30 mins...
the result won't be real time.....

if we really want to go with the 1 month then two phase competition should be it.....

the profit and losses and both phases will be added to give us the real winner....


Example

Trader A made in Phase 1 +3% and in phase 2 + 5% --- Total Profit for trader A = +8%

Trader B -. Phase 1 -2% and phase two +13% ---- total profit +11%


So trader B won the contest...
Something like that.....

Any trader that hits daily d.d shouldn't in phase 1 won't join the phase 2....


Simple

BrightFuture48:

This is best way to go if the contest should last for 1 month. Taking the advantage of ftmo matrix is very important in this type of competition and its simulate a real challenge scenario and ability to get used to this prop firm platforms.

if not for 14 days time constraints ftmo platform is the BEST but still that can be easily overcome with two phase challenge. Even no need to stress about fxblue metrics again. FTMO individual traders matrix is self explanatory and security tight against any fraud. Also no one will see what other traders open orders are and instruments they are trading which will further prevent cheating.

Caveat: if any trader achieve 10% in the first phase then no need for second phase .

But if there is no outright winner in the first phase, then the above model should be used. That is the challenge should run full course of 2 phases and total percentage gain in both phases should be added and the winner is the one with highest percentage gain... Balance.

Cheers.

samfelly:


Wow, I respect, bro, you really have ur thinking cap on. I never really saw it like this. Thank you.

Hmmm, I still dey ponder on that revelation u made. I don give up

Donsheddy:



that will be stressful.....
and another thing with fxblue one can escape this daily d.d cus fxblue update its record every 1hr abi 30 mins...
the result won't be real time.....

if we really want to go with the 1 month then two phase competition should be it.....

the profit and losses and both phases will be added to give us the real winner....


Example

Trader A made in Phase 1 +3% and in phase 2 + 5% --- Total Profit for trader A = +8%

Trader B -. Phase 1 -2% and phase two +13% ---- total profit +11%


So trader B won the contest...
Something like that.....

Any trader that hits daily d.d shouldn't in phase 1 won't join the phase 2....


Simple

samfelly:


Yes, 3 clicks forward, but 2 clicks back, to check the next participant. 5 clicks in totally. And how many participants would we be having? And he need to do this every blessed day o. Anyways, if Infofirst sees nothing wrong in doing dat then we are all game!

Abi, make we pay Gasive to go hire person for Oluwole make he create and design website close to fxblue, but he go come add the Daily DD we are all looking for?

BrightFuture48:

Taking the advantage of ftmo matrix is very important in this type of competition and its simulate a real challenge scenario and ability to get used to this prop firm platforms.

Caveat: if any trader achieve 10% in the first phase then no need for second phase .



Cheers.

Piptocoin:


I agree with you on the fact that it would place a herculean burden on Infofirst to track down daily drawdown. Besides, he has his numerous
personal affairs which demand his attention besides babysitting the competition. I understand his reason for using the ftmo platform to help him track this data. I will suggest a maximum DD of 5% which will automatically take care of both the minimum and maximum DD of 5% and 10% respectively on ftmo.

The reason is that anyone who is able to meet the profit target of 10% without losing 5% of their equity (not balance) will have a good probability of meeting their profit target on ftmo evaluation and funded accounts.

samfelly:


They really did that? They clipped the guys wings? So no future business for them with that dude?

Ah, dem tough o

Piptocoin:


It is really simple. If we should go the two-phase route, then trader A will be disqualified having met the 10% DD disqualification criterion. This is because the phases are not independent of each other...rather, they are a unit — a competition broken down into halves, a technical continuation of the previous two-weeks so that decision is based on the summation of the statistics generated on the two two-weeks competition. I don't know whether you get my drift but I can give further clarification if needed.

Yes, further clarification, please

exmaysn12000:


I disagree with this your caveat, this will encourage 1 hit wonder.

All traders should be mandated to continue in d second phase. Profit target for each phase should be what ftmo stated, which is 5% for 14 days. So both phase target should be 5%. Total of 10% a month.

So winner should have a minimum average of 5% for both stage, for example trader can have 2% in one phase and 8% in the second phase. Still an average of 5%

If we have more than 2 contestant with more than an average of 5%, the highest go home with d price.

Any trader with violation in the first stage is not qualified for the 2nd stage.

Fxblue is still important, it makes everything to be well organized in a page, compare to having to click each participant ftmo link, but the host can have all participants link for his own personal record

@infofirst

samfelly:


Yes, further clarification, please

Piptocoin:


It is really simple. If we should go the two-phase route, then trader A will be disqualified having met the 10% DD disqualification criterion. This is because the phases are not independent of each other...rather, they are a unit — a competition broken down into halves, a technical continuation of the previous two-weeks so that decision is based on the summation of the statistics generated on the two two-weeks competition. I don't know whether you get my drift but I can give further clarification if needed.