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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 22 (379446 Views)
Forex Trade Alerts: Season 23 / Forex Trade Alerts: Season 21 / Forex Trade Alerts: Season 20 (2) (3) (4)
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Re: Forex Trade Alerts: Season 22 by Mayork2(m): 2:50pm On Feb 01, 2022 |
infofirst:yes boss I'm sure he doesn't know the efforts and sacrifices you the organizers are putting. |
Re: Forex Trade Alerts: Season 22 by williamishere: 2:52pm On Feb 01, 2022 |
Mayork2: Imagine group wey some people dey finish challenge in 1 day. If them come here where people like us go dey� 1 Like |
Re: Forex Trade Alerts: Season 22 by Englishisamust: 3:09pm On Feb 01, 2022 |
4 hour head and shoulder pattern is really anticipating a buy on gold.
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Re: Forex Trade Alerts: Season 22 by russy: 3:33pm On Feb 01, 2022 |
Hello traders i am currently runing MFF challenge, i need someone to explain the 5% daily drawdown to me, i am afraid as I dont want to breach the rule. 3 Likes |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 3:43pm On Feb 01, 2022 |
boom99:Lol.. My bro stop looking at the leader position it will mess up your psychology big time. I have traded ftmo trials consecutively like three time in a roll hitting atleast 10% target weeks before the competition but I have been badly trading just because of looking at leader board. It will always make you trade under pressure hence you committing mistakes which the market will punish you for accordingly lol. I have learnt greatly from these competitions that, it's best idea to stay focus and avoid any form of distractions and trade leisurely without forcing any trade. Even if you don't meet up you will definitely do well without looking at your position too often. I will have to discipline to avoid such distractions going forward in subsequent competition. Cheers 7 Likes 2 Shares |
Re: Forex Trade Alerts: Season 22 by alphaNomega: 3:51pm On Feb 01, 2022 |
3 Likes |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 3:52pm On Feb 01, 2022 |
russy:It's a bit confusing but from video I watched on YouTube. You have to look at your balance or equity at the beginning of each day then find the 5% of the one that is greater (between Balance or Equity) then that is your daily DD. Example1 Balance = 1000$ Equity = 2000$ your Daily is = 2000 * 0.05 = 100$ Example 2. Balance = 1200$ Equity = 1100$ your daily DD = 1200 * 0.05= 60$ 2 Likes |
Re: Forex Trade Alerts: Season 22 by russy: 3:53pm On Feb 01, 2022 |
BrightFuture48: Thanks bro 1 Like |
Re: Forex Trade Alerts: Season 22 by boom99(m): 3:53pm On Feb 01, 2022 |
BrightFuture48: Thanks. I am not looking for leadership position Sha. The truth is I crawl when I use small lotsize and since I scalp it makes me stay longer in the market and I make mistakes. If I use larger lotsize, I only look for sure trades, place them and I am out. On the other hand I have learnt a lot from these competitions, infofirst has organized. If you check my trades for this present competition I was able to move from the back to 9th then I went back again. But if I use a larger lotsize I will build the account easily, without breaking the 10% drawdown FTMO allows. 4 Likes |
Re: Forex Trade Alerts: Season 22 by Investorozay: 3:55pm On Feb 01, 2022 |
Investorozay: 1 Like
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Re: Forex Trade Alerts: Season 22 by Piptocoin: 4:16pm On Feb 01, 2022 |
infofirst: boss, looking at how people appear from nowhere to join the competition everytime it is hosted I would say your idea makes big sense. no offense to new comers to the thread. |
Re: Forex Trade Alerts: Season 22 by Jameselias: 4:56pm On Feb 01, 2022 |
I don't think forex trading is for retailers 1 Like |
Re: Forex Trade Alerts: Season 22 by Englishisamust: 5:13pm On Feb 01, 2022 |
Jameselias: If you are doubting check this man on ftmo leaderboard. He is a retailer like you. If you earn this in one month. You will buy a house and car in Nigeria. If you think Forex trading is for hedge funds or institution. Some of them are down -4% this year go check Google. 1 Like
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Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 5:21pm On Feb 01, 2022 |
Englishisamust: Don't engage him please, Let him believe what he wants to believe If he believe in what he says then what is he looking for here? ![]() 1 Like |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 5:26pm On Feb 01, 2022 |
This issue of new comers, I don't really see it as a big deal, So long they play by the rules. Weather they can meet the target in a day or not, That's left to them, The market is open to everybody, What is required is consistency, The contest should inspire you to become a better trader and not envious of the next man, I keep saying it, If you can be consistent in a 10k prop account, Forget it, as long the prop firm don't close, and you keep investing, You should be a millionaire in 9 figures in the course of 2 years It's not a must you must win a contest, Just be true to yourself and you will really see how inspiring to be in the mist of your fellow trader, Because trading can be really boring at times, because everything is just repetition. 11 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by DestinyDjohn: 5:31pm On Feb 01, 2022 |
Feshizzy: You've said it all boss ....it's not really about the competition, the real question is what have you learnt ? 2 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by LucartFx: 6:05pm On Feb 01, 2022 |
Please is there a book for this 'kill zones' you made mention of? If there is any please share. Thank you so much abham: 3 Likes |
Re: Forex Trade Alerts: Season 22 by abham: 6:07pm On Feb 01, 2022 |
ICT usually makes use of this term in his videos. His YouTube channel is inner circle trader. LucartFx: 1 Like 1 Share |
Re: Forex Trade Alerts: Season 22 by abham: 6:11pm On Feb 01, 2022 |
![]() SL hit on both entries. abham: |
Re: Forex Trade Alerts: Season 22 by LucartFx: 6:44pm On Feb 01, 2022 |
Thank you Sir for the prompt response I appreciate it. abham: |
Re: Forex Trade Alerts: Season 22 by SAVAGEBETS: 7:15pm On Feb 01, 2022 |
Hi guys, this is an interesting read for those taking part in the FTMO challenge. Just a heads up. Now I don't know if anyone has posted anything similar here, if not then here you go. https://qr.ae/pGEC6B Prop funds Business Model: 1. Prop funds gives some client's accounts to trade when you pass challenge? - No, they give their own accounts to trade which is directly connected to LP with 1:50 to 1:100 leverage and rules are somewhat strict that you can't trade during news, or can't hold during weekends or can't blow your account below 10% of equity and just 1 mistakes and they takes back account from you without any warning. 2. How they get funds which they are giving you to trade once you pass the challenge? - It's you and other users like yours who are losing or gaining during challenge is the main source of their funding and below in detail I explain how. 3. Do they them selves a brokerage? - Yes and No ![]() ![]() 4. Now come to the Business Model (I am saying as I my self have run brokerage in the past but couldn't survive competition and so knows in detail). - Generating a Funds : Now being a broker but front face as a prop funds FTMO and other same companies asking you guys to take a challenge where you have to pass 2 levels and then they gives you funds to trade, actually here is the trick - Lets say you paying $180 to $292 to $500 and up to $1200 for higher accounts for the challenge, now FTMO says this is a demo account but in reality its never a demo account but a Live Account connected to their own liquidity provider through MT4 Bridge, They ask their LP to set their leverage let say 1:20 to 1:30 and what they provide as a leverage is 1:100 to 1:500. So think if on your account as per 1:100 loss is $500 same time FTMO have loss of $100. If you had taken a challenge of $180 still they makes $80 even if you don't win a Single trade. Trick 2: Let's say you won trades worth $200 and as they are counting open loss + closed loss both as a daily and over all drawdown means they have earned already some $40 but you see $400 as your leverage higher but for you its a demo and for them its a real money ![]() ![]() ![]() Final Trick : Let's say you are a too good trader and 0assed a challenge, so what happened they have already earned some $400 out of you during challenge it self and now they gives you Live account to trade, and again this account money if all belongs to those losers who are losing. (90% of traders lose in challenge as they have lots of pressure to keep drawdown below 5%.). Now you are trading so called live account which you had traded before also during challenge but this time you and FTMO on 1:50 no difference in leverage if you make you make 70% and they make 30% and if you break a single rule again they close your account and you are forced to face challenges again by paying money ![]() - Happy Trading - 1 Like |
Re: Forex Trade Alerts: Season 22 by Kaybee7000(m): 7:27pm On Feb 01, 2022 |
SAVAGEBETS: Omoh!!! this one torches my heart o |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 7:37pm On Feb 01, 2022 |
Kaybee7000:Someone whose name na savage bet message touch your heart? Smh. Off course if you have done research on prop, this is not new news at all, 95% of trader fail fx, that's the statistics and that's why prop with good intent can hardly close, Because there would be enough losers to balance the equation. And your live account is still demo, till dey a confident enough to copy your trades to their live account, You can have a 10k and be consistent for 6 months, they will instantly copy your next months trades to their live of about 500k or so, depending on the metrix of the best trader. That way they profit from winners as well as losers. This information is not new for anyone who is serious about prop. We even had this same discussion last year sef. 2 Likes |
Re: Forex Trade Alerts: Season 22 by SAVAGEBETS: 7:46pm On Feb 01, 2022 |
Feshizzy: Lol it's funny cos I don't know what your intentions are referencing my handle tho. I haven't said anything negative here about Prop, I simply shared the business model for those in the dark about what Prop trading is incase newbies think prop trading is a shortcut to trading success of any kind, the allure of being handed a huge account to trade forgetting the costs. What's that got to do with my handle? Why so sensitive? |
Re: Forex Trade Alerts: Season 22 by abham: 8:01pm On Feb 01, 2022 |
Re: Forex Trade Alerts: Season 22 by karkinase(m): 8:03pm On Feb 01, 2022 |
SAVAGEBETS:Cmon that was sarcastic man.. 3 Likes |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 8:15pm On Feb 01, 2022 |
Let me just use MFF Is a sample of power of prop firm, I am not their promoter as it stands i dey one leg in one leg out till they fix their issue, So how can you be a millionaire with 50k naira within 2 years? Well, you have to be a very very skilled and profitable trader for this to work. Like very skilled, super skilled. So with 50k or less you buy evaluation 10k usd of 85usd The pass metric would be 5% weekly, So in 3 weeks you should have passed phase 1 and 2 or at most a month. And then on your live you set 2% monthly. Now the journey. January Bought 10k with 84usd February Received 10k live account March First payout + refund = 200usd + 84usd = 284$ Buy 20k with 139$ - 284 = 145$ Initial capital recovered. April 10k payout 200$ 20k live received May 10k payout 200$ 20k first payout and refund 400$ + 139$ = 539$$ Total profit brought down 200 + 200 + 539 = 939$ Buy 200k acc with 979$ Merge 10k+20k acc = 30k June 30k payout = 600$ 200k live received July 30k payout = 600$ 200k first payout + refund = 4,000$ + 979 = 4,979 Total profit brought down 600 + 600 + 4,979 = 6,179 Buy 200k, buy 100k, 50k, buy 20k = 1,916 MFF total allocation maxed out August 30k payout = 600 200k payout = 4,000 200k, 100k, 50k, 20k live account received September 30k payout = 600 200k payout = 4,000 200k, 100k 50k, 20k first payout + refund = 7,400 +1,916 = 8,316 Total profit = 18,516 Send to private trading account October 30k payout = 600 200k payout = 4,000 200k, 100k, 50k, 20k payout = 7,400 Merge 30k,100k,50,20k = 200k November 200k payout = 4,000 x 3 = 12,000$ From October, an estimate of 12k monthly has been achieved! In a year that's 12k x 12 = 144,000$ profit est 82 million naira. Without calculating profit from your personal account. That's just by keeping consistent with 2% on a live account with a starting less than 50,000 naira account. This is a really really rough estimate, But it is achievable. So don't be disturbed if you don't win a contest, You can achieve more by using it as a platform to develop yourself. The sky is your limit. 15 Likes 2 Shares |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 8:19pm On Feb 01, 2022 |
SAVAGEBETS: Coming from someone who always give sure odds, What an irony Permit me for being very skeptical, You first message here is that which you posted, I have many questions, but i would just shake the feelings off Well, probably you might invite us to betting next, you know, sure odds stuff ![]() |
Re: Forex Trade Alerts: Season 22 by TradingMaestro(m): 8:25pm On Feb 01, 2022 |
Feshizzy: The oil on ur head is enough to fry akara and yam!!!!!! 1 Like |
Re: Forex Trade Alerts: Season 22 by LucartFx: 8:31pm On Feb 01, 2022 |
But at least you be man? abham: |
Re: Forex Trade Alerts: Season 22 by Darkpa1: 8:59pm On Feb 01, 2022 |
Feshizzy: Eye opening. Thanks |
Re: Forex Trade Alerts: Season 22 by charly20(m): 9:04pm On Feb 01, 2022 |
abham: From my side, I think Cadjpy and audjpy have gone to sleep. Surprising as I expected the AUD and CAD news to have a good impact but ..... ![]() I guess, we'll find out if they all answer to GJ as GBP news is coming up on Thursday. Meanwhile, we still have more AUD news and CAD news tomorrow. Na learning I dey so. |
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