Postby aliassmith » Sat May 28, 2022 1:06 am
Turns out it is raining. I guess I'll do my FTMO and MFF discussion.
Today far as I know, FTMO is considered the gold standard of "prop firms".
By this I mean within the tier 2 type of "prop firms" not something like SMB Capital.
FTMO has several packages from $10,000 to $200,000 with a maximum purchasable amount up to $400,000.
FTMO will allow you to scale up to $2,000,000 with a scale up opportunity every 4 months.
To Max this out at $2 Million with perfect months it will take about 64+ months.
I feel that your best way to handle this FTMO is to pay up to $400,000 through evaluations then get your 1st upgrade so you can go from 80/20 to 90/10 split. This will mean you have an equivalent account of $320,000 go up to $450,000. By equivalent I am referring to the amount you get 100% of the gains.
All this can be done in about 6 months if you are good.
To sum it up, after the scale up you can control $500,000 at 90/10 split.
To me this is like having a $450,000 account at 100/0 split. You will also have 1:100 leverage which means up to $45,000,000 in buying/selling power.
To be able to wield this power you will need to pass their evaluations. In phase 1 you will need to get 10% in 30 calendar days. With their new rules you can get a 14-day extension if you have over 5%. After passing phase 1 you will get a new account to do phase 2 of the evaluation. Phase 2 requires you to get 5% gain within 60 calendar days.
If your time expires and you are in profit without breaking any rules you can get a free redo.
Speaking of breaking rules there are a few to watch out for:
Don't lose more than 10% ever.
Don't lose more than 5% in a single day.
Don't trade during certain news events.
Be sure to go over their website to see if these rules have changed.
What about MFF?
This firm has several evaluation packages ranging from $10,000 to $200,000 with the max purchasable amount up to 2 x $300,000.
Each one of those $300,000 merged accounts can scale up every 4 months by 30%. They claim the scale ups are unlimited.
The profit splits start at 75% the first month up to 85% the third month.
After a 4-month period a $300,000 account goes up to $390,000 at an 85/15 split. This is equivalent of $330,000 at 100/0 split with a 1:100 leverage. At this point the single account power goes to FTMO. At some point the MFF account can be larger than the FTMO
To be able to wield this power you will need to pass their evaluations. In phase 1 you will need to get 8% in 30 calendar days. Their rules allow you to get an extension if you are in profit. After passing phase 1 you will get a new account to do phase 2 of the evaluation. Phase 2 requires you to get 5% gain within 60 calendar days.
If your time expires and you are in profit without breaking any rules you can get a free redo.
Speaking of breaking rules there are a few to watch out for:
Don't lose more than 12% ever.
Don't lose more than 5% in a single day.
Be sure to go over their website to see if these rules have changed.
Each firm has its own Pros and Cons and you will have to decide for yourself by reviewing their site and maybe doing a low cost evaluation to test the waters.
The pic below is a day ago when I stopped trading but kept scalping/trading on a FTMO account because I can be an addict.
90% of $20,050 is $18,045. It shows a $200,000 eval can be passed in 1 day, but there is no need because there is a min day rule.
I was testing an idea when I dropped my lot size down to 10 lots, interesting that it worked
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Trade Your Way as Long as It Makes Money!
Not bad for 11 minutes. So that makes 16 wins in a row going back to my last loss.
