Alternatives to Darwinex

[CavaliereVerde]

I think that in your case the problem is not winning the gambling/challange phase but adapting your system to avoid news and weekends.

 

[itstradingtime]

I think that in your case the problem is not winning the gambling/challange phase but adapting you system to avoid news and weekends.

That would be in case I pass the challenge. During the challenge, trading news/weekends is allowed.
The main problem for this trading month has been the same system I share on Darwinex.
The other 2 discretionary strategies went great, reaching +8% during the first 3 weeks. The system behind IRY, as you can see from the Darwin, didn't go well for the month of January, closing at -2% in the FTMO challenge.
Last week is then pure gambling as I have to try to achieve the rest of the profit, keeping an eye on the 5% max daily loss.
So far, my gambling hasn't done very well (6 losses out of 6 trades).
Wednesday is going to be all in day, otherwise we just restart the challenge, hoping to have a good month for IRY

 

[Oleg]

Hi,
Pick Darwin ? Or should I pick something other?

//Oleg

 

[TLN]

Wednesday is going to be all in day, otherwise we just restart the challenge, hoping to have a good month for IRY

Yeah, it's coming! High possiblity that you will restart the challenge, I think ^^

 

[CavaliereVerde]

Hi,
Pick Darwin ? Or should I pick something other?

Hi.
It depends on what you have and what you want to acheive.
To be money manager with darwins you need a trackrecord.
With TFs you don't need one.

If you want to invest traders TFs are completely useless.
The most serious way to invest traders is Darwin.

 

[CavaliereVerde]

I would like this discuss a bit more about PAMMs
AlpariPAMM is what I would consider if there were no Darwinex.

1. running for 20 years
2. long trackrecords
3. thousands of trackrecords
4. PAMM portfolios

I would like to have a complete review from @Naragot and @Gargamel .

 

[Gargamel]

I don' t know if Alpari Pamm merits complete review because it is off shore and offers no guarantees to investors. Darwinex offers FCA oversight,85k GBP public guarantee and up to 1mil. private insurance.

 

[IlIlIlIlI]

I just finished the main challenge of the test version of the FTMO challenge (free trial) within (less than) 2 days:

day 1:

day2:

First page of the trading journal, sorted by increasing profit:

Trading 3 other days with 1 microlot for 6 seconds should not be a problem to generate 5 trading days.
Of course I'm thinking about spending some real money to start the real challenge.

But I have some questions, and maybe someone here can help:
1) Is there any other difference between an aggressive and a normal account than loss tolerance?
2) The maximum number of accounts to manage is 3? So the maximum amount in EUR funded by FTMO would be 240,000 EUR under Management?
3) Are there any other restrictions during the evaluation process than daily and overall loss limits and to avoid (active) trading during several minutes around major news releases?

 

[TLN]

But I have some questions, and maybe someone here can help:
1) Is there any other difference than loss tolerance between an aggressive and a normal account?
2) The maximum number of accounts to manage is 3? So the maximum amount in EUR funded by FTMO would be 240,000 EUR under Management?
3) Are there any other restrictions during the evaluation process than daily and overall loss limits and to avoid (active) trading during several minutes around major news releases?

There is lots of discussion in previous post.
Or just simply, please go ahread FTMO FAQ, you should get all what you need! (https://ftmo.com/en/faq/)

 

[IlIlIlIlI]

There is lots of discussion in previous post.
Or just simply, please go ahread FTMO FAQ, you should get all what you need! (https://ftmo.com/en/faq/)

I've read the FAQ before I posted it here.
I'd appreciate to find a hint or correction here if I have missed something.
That's why I asked.

 

[TrainerTXR]

Thinking about giving AxiSelect/Psyquation a try.
Any experiences here ?

I guess the stealt the idea from Darwinex, but conditions seem to be fair.
Apart from being a real good and reputable broker they offer up to 350k AUD
funding for just investing 2x 1000 AUD on the way to PRO status.

Compared to Darwinia :
There you need an account of about 5k EUR , a D-Score of >80 and 1-2 % performance each month to be in the Top 25 of darwinia and getting ~100k for 6 month - max 500k (if you manage to score each month)

Yes okay, I did it the last 5 of 5 month - but its not that easy as with Axi (in theory).

There you import a good track record. Then open 1000 AUD account (+get 10k) trade 2 month profitable (5! trades only?) - add another 1000 AUD (+get 10k) again trade profitable for 2 month and after that qualification you got PRO access and 50k (forever!) just for reaching 0.5% in a month ? Up to 350k ?
Sounds to easy to be true ..

Any guesses ???

 

[IlIlIlIlI]

Sounds to easy to be true ..

Yes ..
I'd appreciate if you share your experience with them here.

 

[CavaliereVerde]

Any experiences here ?

@LongVision

 

[LongVision]

@LongVision

If you have fund above 10k to trade then trading with axi trader and participate in axi select is good idea as it diversify your fund and chance to earn money from fund management.
If trading fund is below 10k then it is better to trade at darwinex.

 

[TLN]

Thinking about giving AxiSelect/Psyquation a try.
Any experiences here ?

With your profitable strategy, I think you can make money without caring about other fund like Darwinex or Axiselect.
If you want to make more money or make faster, just join some prop firms. Ex: myforexfunds has policy same same Darwinex. 15% performance fee. With just 949$ for 100k$ account (Up to 300k$ at max). No challeges, no verification. Trade whatever you want. Just FYI.

 

[TrainerTXR]

With your profitable strategy, I think you can make money without caring about other fund like Darwinex or Axiselect.

Thats what I have done for 15 years - I let participate Famili&Friends but never intended to make it pulic available making rich people even richer. No need at all.
But .... With 2021 in Germany there a new tax law, which forces privat individuals to stop trading, if the total amount of loosing trades exceeds 20k EUR (they call it 'investor/gambler protection' ;-) ).
Klonedike mentioned it already somewhere else as the reason why he stops trading at all.
Its hard to belive - buts thats fact and current law. And as long as the suprime court does not stop this stupid law (which hopefully will happen) its valid.

With this background the remaining solution at the moment is prop trading or legal AuM funding with Darwinia/AXI or emigration at last. I lost my financial freedom :-(

 

[TLN]

With this background the remaining solution at the moment is prop trading or legal AuM funding with Darwinia/AXI or emigration at last. I lost my financial freedom :-(

Sorry to hear that law from Germany.
So, possible way now is only
-Darwinex
-AxiSelect/PsyQuation
-Some prop firms (FTMO, Endfoid, Myforexfund, ....)
I think with your profitable strategy, you still have some way to earn money and overcome that law.
FYI! In vietnam, forex trading is illegal and is not protected by the goverment. I also have to deal with this as your case.

Anw, you finally show-up yourself hear because of that law. What an arrangement of destiny!

 

[IlIlIlIlI]

But .... With 2021 in Germany there a new tax law, which forces privat individuals to stop trading, if the total amount of loosing trades exceeds 20k EUR (they call it 'investor/gambler protection' ;-) ).

I spent more than 1 hour last night to calculate the NEW FINANCIAL TAX for private traders with my small account (less than 2k on the trading account and less than 1 k on the investor account with leverage 3 which makes about 2.5 k investment amount) and my tax report of January 2021.
Result (for this small account!):

Trading Profit	152,67 €
Investor profit (trade)	59,42 €
Perf. fees (investor)	-19,42 €
Mngmt. Fees	-1,04 €
Swaps	-4,51 €
Sum Profit Trades	714,97 €
Sum Loss Trades	-502,88 €
Net Profit	187,12 €

January wasn't a good month for me, IMO under average, but I want to take it as reference as an increasing account belance would usually result in increasing figures.
If I multiple the sum of losing trades of this month by 12 I burned 6 k out of a maximum of 20 k which is regarded for the tax calculation.

That why I have to trade a very small account at Darwinex and can never get the full benefits of DarwinIA anytime.

Which implies that investors don't find it attractive because they might think I don't trust my strategy or some other nonsense about me without knowing me even a bit.

I like Darwinex, but that's my main reason to look seriously for alternatives which cannot be touched by this crazy law.

 

[TLN]

That why I have to trade a very small account at Darwinex and can never get the full benefits of DarwinIA anytime.

Actually, you can take full benefits of DarwinIA with 10k$ deposit and trade with micro lot. (VaR will be very low).

 

[IlIlIlIlI]

Actually, you can take full benefits of DarwinIA with 10k$ deposit and trade with micro lot. (VaR will be very low).

The trading account will grow organically in that direction... ..without trading only 1 microlot.
Your idea would also explode the results of my investments in my Darwin.