Recent content by frugi

Yeah ACG are strict about EAs. I admit that is a significant disadvantage if they're your thing. You can use lot size calculators, trade management utilities etc. no problem, but not commercial or publically available trading robots as they break their group trading rule. But you can develop...

FWIW Alphacapital (ACG) also offer 30 day free trials (as many as you want) and the trading conditions are exactly the same as those on challenge and funded accounts (same server, same LP price feed). The rules are also the same across all accounts except max lot size which only applies to...

"MFF should not be taken as attractive or working prop firm as long as the CFTC investigation is not closed." I could not agree more sir, hence my advice to research thoroughly! As the prop landscape evolves, I expect several others - built on a similarly dubious business model with highly...

The modern prop firms such as FTMO, MFF, TFT, Alphacapitalgroup etc. do not hold client money as clients trade simulated accounts. The only personal money at risk is what you have paid to take the initial challenge to become "funded". This is usually refunded with your first payout. Others...

TFT have poor execution conditions, specifically artificial slippage and delays. Alphacapitalgroup is by far the best out there in my view, unless you want to use commercial EAs which are not permitted.

"100% of those trader challenge programs where you pay a fee to prove you can trade are scams. " It's probably more like 90%, but there are also one or two honest firms if you do some rigorous research. Yes, there are stringent rules on max daily loss, max total loss, martingale, use of EAs...

It's a tedious grey area isn't it? For what it's worth I trade with one of the modern prop firms and am registered as self-employed - specifically a financial analyst - which avoids all the complexities of "real trading" rules. My service agreement also designates the firm as the contractor...

Yes, you're right they're quite strict about EAs. However as you are allowed to open multiple lots, provided the size per trade is equal to or less than the most recently opened position, you might be able to adapt your EA to circumvent the martingale rule by splitting the lots. e.g sell 1...

Alpha Capital Group are well worth a look if you take the prop route. They use an in-house regulated broker ACG Markets which is fed by a Tier 1 liquidity provider with prices from the live market. The trading conditions are truly excellent, with no manipulation. They're in a different league...

You cannot know for sure what the decision or the reaction will be Price may briefly move in the opposite direction first, taking you out You will suffer shocking slippage and wide spreads around news releases as the order book is very thin. Retail brokers are especially poor in this regard, but...

Sorry to hear that. As you've discovered, that's the drawback of balance-based drawdown, but on the plus side floating profits act as a cushion for your daily DD. I much prefer it to the equity-based drawdown which some firms use, whereby if your balance is 100k and you carry over 5k in floating...

3% of 0.04% doesn't sound like much but when a system is delicately balanced, a seemingly minuscule addition can still have a very significant and cumulative effect, especially if it occurs quickly. The 0.04% total includes a 40-50% rise (from pre-industrial levels) caused entirely by us. I'm...

It is possible to use a trade copier e.g socialtradertools to copy trades from Tradingview to MT5. You need to open a small live account on Tradingview (perhaps Oanda or FXCM) then copy the trades to MT5 using the balance multiplier to correct the lot sizes. This way you enjoy the familiarity of...

No idea where it'll come to rest but have entered 4512. Tidy app for it now too I see - nice one. :) PS Sharky did you have a chance to look at my unexpected PM (conversation)? Sorry to be a nuisance. Cheers!

Thanks very much for your comprehensive and useful reply. I'll do some more research before jumping in, but it looks quite promising. Is the leverage reasonable? I'm on 100:1 but rarely use more than 1:20.