Congratulations for achieving three FTMO accounts! I was thinking it could be possible to have more accounts than that by signing up under your spouse or a different business entity, but I read FTMO’s fine print that if they figure out you are using the same strategy (copy trading) on more than three accounts, they may close them. So looks like with FTMO the max for any given strategy would be three accounts plus scaling on those accounts? I guess by that time you are moving money to your own accounts and growing those. There’s also other prop firms out there too.
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looks like fees & pending transaction congestion started skyrocketing on the 26th
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10% profit + 2/3 months positive per Qtr = +75K capital increase per 300K
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I’m pretty new to crypto and bitcoin transfers - do things get backed up a lot? Are there certain times of day that are better to do transfers?
Right on! I like what greenflash808 said (I think it was green… that said it) about having FTMO as your base and using copiers from there diversifying to our offshore brokers.
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Yeah I basically spread the risk over three accounts, rarely go over 10-15k of margin on each.
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Earlier this year I had a problem on the Eth blockchain with Coinexx. They got back to me letting me know what the problem was. It’s not fun, as traders we have enough to deal with when trades are going against us, testing our emotions. Stable coins are the best to use; I was using GUSD (Eth blockchain) for that Coinexx transfer. I’m now nervous about the Eth blockchain. Since then I have tried using LTC (not offshore brokerage related transfers) I have not had any issues with LTC, but it’s not a stable coin.
They don’t get backed up a lot, however is not uncommon for periods of congestion. I don’t think it matters so much the time of day, just be aware of current PA. If its in the midst of a sell off, etc.
During normal times, around 8pm - 6 am EST is usually when the pending transactions are @ their lowest.
ETH had major issues when there was a popular blockchain trading card game eating up transactions and it’s currently dealing with other issues leading to more congestion. All the stable coins also use the ETH Network so when that is backed up it affects them too. However at least with stable coins, if a disaster happened and a transfer showed up 16 hours later you would still be whole compared to ETH & BTC where anything could happen while waiting.
LTC usually has minimal congestion issues.
XRP can handle 1500 transaction per second so congestion is non existent.
You can use these sites to track where things are @ any given time…
Johoe's Bitcoin Mempool Size Statistics (BTC & LTC)
https://chain.so/BTC (BTC & LTC)
https://etherscan.io/txsPending (ETH & Stable coins)
For speedy transfers you want to see… BTC <7000 pending TX, ETH <10000, LTC <300
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So you chose to go with 3 $100k accounts instead of 1 $300k account?
I think I mentioned somewhere in these 10,000 posts that I like to transfer Bitcoin to/from brokers like I would be trading it, so I make transfers when I see an uptrend happening, so hopefully I’m correct, first of all, then if I am, maybe I’ll even make a couple bucks as my BTC travels through space and time, or at least enough to counteract any broker fees
That is correct.
I haven’t made a withdrawal just yet, but I will this week for sure so I’ll let you know how that goes. And I agree with you guys about hankotrade, I did have execution issues on thursday and friday but they were less frequent. I just attest these issues with them being a new broker and growing pains. Support has been helpful multiple times and resolved the 3 issues I had when they arose.
As far as everyone responding about the copy trader thank you guys so much I think I will go with the suggestions y’all gave! My only question is about FTMO. Have you guys had any issue about withdrawals and getting your money if its a large amount ~25kish and up? And how does it work with being a U.S. Citizen is it legit and safe?
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There are videos all over youtube of US traders that have successfully withdrew funds. Legally you’re an independent service provider/contractor… you trade on a demo account that they copy trade to a live account. You sign a contract and everything is likely reported direct to IRS. You invoice them monthly for your share of the profits which are then wired to you. You have earned income taxed at ordinary rates.
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How long was your transfer held up in the blockchain?
I’m glad HyperScalper finally explained his long absence from this forum. I hope he continues to read what is going on here and occasionally let us know how well he is succeeding in his new trading. I agree with him that the profitable, more trending London/European trading session occurs at the worst possible time, when most Americans are sleeping. I have adapted to that schedule, though, by going to bed around 7:00 PM CST and getting up about 1:00 AM to trade, or at least wait for a good trade which sometimes takes 2 or 3 days to occur. I use a little melatonin from Life Extension to sleep somewhat soundly each night. I’m saddened, but not at all discouraged by the amount of damage the regulators have done to us. I firmly believe that offshore trading of currencies will continue to be quite viable for Americans well into the foreseeable future. Why? Because, thanks to good old, reliable greed with its accompanying marvelous human ingenuity, there will always be some decent offshore brokers somewhere willing to cater to and take advantage of the profitable American trading industry. The great advantage of offshore forex, crypto, and stock index trading is its huge leverage which keeps me glued to it. Domestic trading cannot yet even approach that leverage.
Good luck, HyperScalper.
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going on 2 days now
Wow! based on where BTC was yesterday… there were about 135K transactions / 180 transactions per min = about 12-13 hours. Did they confirm it was already sent?
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I tried to get AMP to switch me from the unusable ATAS platform; but they
said it was not possible. I’m talking about NinjaTrader 8, of course, which
is multi-threaded; and I have no experience with the older NT7. So
I had to go with NinjaTrader Brokerage; but actually I think it was
incredibly good; since I was more intimately involved with NinjaTrader’s
brokerage and platform support; which was very important.
I have CQG which requires $50 per MNQ contract; but also MUST have
Rithmic which is $352 margin for a single MNQ contract. Crazy, but
necessary for me to have that feed.
I have had my fair share of struggles with NinjaTrader, despite their really
superior support. For example, my Strategy subclass suffered the
creation of 10 “clone instances” of the C# object instance, only one
of which would survive to become the real runtime object, and even
platform support was wrong about those details. And then I got my
assembly DLL complex order entry platform working; but it suffers
from getting Terminate signals from Charts. So now I’ve concluded
that to get “Bot Quality” stability; I need to re-implement it as what
NT8 calls “an AddOn” which means that it has the highest runtime
status with the NinjaTrader platform and is launched from their
control panel. That is a struggle since a Strategy subclass has a
number of support properties, which I have to re-implement as
the AddOnBase subclass instead.
Nothing comes easily; when you are trying to push the technology !!
hyperscalper
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