BluFX and Similar (getting money to trade)

[terrence212]

I avoid it entirely and use a call app that alerts me when price gets to the region i want. I dont want to break any rules. After 6 months, i aim to get access to the benefits of being active for that long and that matters to me more than using pending orders.

This is a very good idea. I could try it sometime.

 

[terrence212]

They say 3X leverage, so a $50000 account can only have as much buying power as a $300 account with 500 leverage?

Yes. But do not be deceived by leverage. That's why many retail traders are not profitable and are called "dumb money." When the markets go against you and you are making a loss, the person with the 50k account and 1:3 leverage will be better off at the end of the day than the other one.

 

[aneni56]

Yes. But do not be deceived by leverage. That's why many retail traders are not profitable and are called "dumb money." When the markets go against you and you are making a loss, the person with the 50k account and 1:3 leverage will be better off at the end of the day than the other one.

Dumb money versus Smart money. The cycle always repeats itself. The average retail trader doesn't remember that there are 2 sides to the coin called Leverage. Not until when they start losing or their account blows up

 

[terrence212]

Dumb money versus Smart money. The cycle always repeats itself. The average retail trader doesn't remember that there are 2 sides to the coin called Leverage. Not until when they start losing or their account blows up

A viscous cycle. Those who break out understand what we are talking about. Because a lot of retail traders lose over time, no wonder a lot of brokers B Book their clients to make profits and cover up for the inevitable loss made from clients that most times put little money and lose more.

 

[paulo835]

What about making roughly 35x time the money(assuming you are profitable already) by having 25 000$ in your account instead of 700$?

You might think leverage will take care of it, but that's a fallacy. You can take a comfortable losing streak of 3% on the 25k account(750$) while the same loss would whipe your 700$ account.

If you can double your money every years in the FX market that would be 25 000$ *2* 0.5(their cut) = 25000. It would take you a little over 5 years to go from 700$ to 25000$ at 100% annual ROI.

You could keep doing that for a couple years before you can do it comfortably with your own capital.

100% a year is excellent so don't use it as a benchmark, I used that number to illustrate my point lol.

Wow!!! Thank you so much for this eye opener. I'm going to sign up with them send give it my best shot!

 

[lilymiller]

Nah. Nothing of the sort. Just trade their money following your strategy that doesn't break their rules and get your money. BluFX doesn't do such a thing.

Wow. This is a good one I must say. I will give them a try.
What again is the percentage split if I hit a profit?

 

[terrence212]

Wow. This is a good one I must say. I will give them a try.
What again is the percentage split if I hit a profit?

Have you joined? 50/50 of the 5% your issue, above the starting capital

 

[lilymiller]

Have you joined? 50/50 of the 5% your issue, above the starting capital

Sorry I don't understand what you mean here. Probably a spelling/grammatical error.

 

[terrence212]

Sorry I don't understand what you mean here. Probably a spelling/grammatical error.

Apologies miss. 50/50 split of the 5% you make. The 5% must be for the 50k capital or 25k capital

 

[lilymiller]

Apologies miss. 50/50 split of the 5% you make. The 5% must be for the 50k capital or 25k capital

That means if I lose 2k and make it back with an additional 500$ in a 50k account, I can't ask for a withdrawal. I have to make 2500$ above the capital. I'm I correct?