Disliked{quote} hopefully i m wrong and it s like u guys say, then it s exactly like FTMO and it isn t a relative 1. i can t recall where i read, but i remember that it was a trailing DD based on equity. if so, then it s great.Ignored
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prop firm new model - my trading journey 871 replies
Anyone trading with a Prop firm 2 replies
So I accepted a Prop Trading job in South Beach Miami 43 replies
Disliked{quote} hopefully i m wrong and it s like u guys say, then it s exactly like FTMO and it isn t a relative 1. i can t recall where i read, but i remember that it was a trailing DD based on equity. if so, then it s great.Ignored
Disliked{quote} Go here: https://myforexfunds.com/evaluation/ See rule 10. And no, its not exactly like FTMO; FTMO's DD calculations are more friendly to swing tradersIgnored
Disliked{quote} Go here: https://myforexfunds.com/evaluation/ See rule 10. And no, its not exactly like FTMO; FTMO's DD calculations are more friendly to swing tradersIgnored
Disliked{quote} it says equity, and the equity can fluctuate during a day without a balance change. i hope ur right tho and i m wrong, cos this is what s holding me back in order to sign up for a challenge with them. {image}Ignored
Disliked{quote} it says equity, and the equity can fluctuate during a day without a balance change. i hope ur right tho and i m wrong, cos this is what s holding me back in order to sign up for a challenge with them. {image}Ignored
Disliked{quote} Still you don't understand. Reset every day at 00.00 time broker. Is fix for all day, not fluctate.Ignored
Disliked{quote} 1.Daily drawdown rules on FTMO In any of the My Forex Funds evaluation programs you must not have a daily drawdown of 5% of equity OR balance on any given day. This is monitored closely by an automated system, includes open trades at the time of roll-over and any breach is shown in your account dashboard. Please be mindful of your trading and be sure to check your available drawdown at 00:00 server time every day. 2. Daily drawndown rules on MFF "Daily dd is calculated from starting equity or balance of the day (whichever is higher) based...Ignored
Disliked{quote}? You think MFF DD calculations and FTMO DD calculations are the same?Ignored
Disliked{quote} I think the rule from DD on MFF is clear. "Daily dd is calculated from starting equity or balance of the day (whichever is higher) based on the broker’s timezone."Ignored
Disliked{quote} mt4, mt5 or ctrader? was it london or late new york, asia? pretty sure they know about so we should see them adress this, as it has happened before.Ignored
DislikedWhen it comes to DD calculation and the difference between Myff and FTMO, it is quite easy. With FTMO if you start off with say $100000 and you make $1000 today then you can lose $6000 TODAY. Tomorrow, it's back to $5000 so if you go below $96000 you're out. With Myff, in the same scenario, if you make the same $1000 on the day you can still only lose $5000 so if your account goes below $96000 TODAY then you're out. Also if you're running some big trades and they are in drawdown and the drawdown goes more then $5000 even for a few seconds you're...Ignored
Disliked{quote} The only problem people have with MFF's dd is if they are UP 5% floating and have break even stop loss, because the daily is calculated on equity as well as balance at 00:00. But they don't realise that 5% of their floating 5% is more than the original 5k. So if they hit break even, they don't violate, they have to go below break even as their available dd is more than 5k. But my motto is, if you are up 5% on a trade, close it. Its a lot of money.Ignored
Disliked{quote} Agreed, people are under the assumption they can pound their square trading style, into a the round hole of the prop firms rules. And then wonder why its not working. It's not so much about what you can make, rather what you can keep. So many make windfall trades, only to give it all back at break even. Then revenge trade themselves into a blown account. ¯\_(ツ)_/¯Ignored
Disliked{quote} I'm not sure i interpreted your scenario correctly. But with MFF if you make 1k on the day, you can lose 6k that day. If you make 1k on the day the next day you have 5% of the new equity and balance. So if you have 100k account, first day you can lose 5% realised or floating, if you make 1k realized that day the next day you can lose 5300 (instead of 5000). The only problem people have with MFF's dd is if they are UP 5% floating and have break even stop loss, because the daily is calculated on equity as well as balance at 00:00. But they...Ignored
Disliked{quote} OK but I think we're both wrong wrong on the maximum loss for the day. What they say is: "Daily drawdown is 5% of the starting balance or equity of the day (whichever is higher)" So based on that, if you make $1000 then your balance/equity is now $101000 (equity is same as balance once all trades are closed) so you can lose 5% of that which is $5050Ignored
Disliked{quote} Agreed, people are under the assumption they can pound their square trading style, into a the round hole of the prop firms rules. And then wonder why its not working. It's not so much about what you can make, rather what you can keep. So many make windfall trades, only to give it all back at break even. Then revenge trade themselves into a blown account. ¯\_(ツ)_/¯Ignored
Disliked{quote} i dunno if u hinted at me with that comment, but regardless, i do agree with what u said. that beeing said, my goal and trade management might be different, it happened to me to lose profit made on few trades cos i couldn t monitor them, hence my question for MFF daily DD, as it doesn t affect me the outcome of 1 single trade as it could losing an account for something as stupid like wht i ve explained in my previous posts regarding daily DD. i do not claim to make crazy %, i just asked that question thinking the people here that trade with...Ignored
Disliked{quote} If you trade 100k and have a floating profit of 20k. Balance is 100k but equity is 120k, then you have daily DD = 6k (120k * 5%). Game over if you lose 6k that day, even though your account still has 14k profit.Ignored