Pride always comes before destruction.... -Proverbs 16:18
DARWINEX ZERO All Time Return:
24.3%
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
DislikedDecided to try out MyFundedForex. Not sure what broker they are using but it says "ForeignExchangeClearingHouse" on my Meta4. Signed up for the 1-step evaluation. I used the discount code below. {image} Got my credentials instantaneously. Frankurt open spreads below aren't too bad. I'm sure they will tighten up during the London session. {image} I'll report back on my experienceIgnored
Disliked{quote} Did bigpip changed the rule? Now the one step funding is 5% drawdown and 10% target profit target. That is like asking for a 200% gain. Smells similar to a 2 step funding they just put it all in one package . Anyone else see it? It's still a no time limit challenge but most will likely blow up anyway due to that 5% drawdown . Let us know your experience one you try them out.Ignored
Disliked{quote} RTP rule violations: Risking 100% or more of drawdown limits in open trades of any instrument. Risking 50% or more of drawdown limits on individual trades or across open trades of the same instrument. Trading with no stop loss. How I understand it. Limits means daily drawdown. So if your drawdown limit is reduced to 4k as a result of loss take, your new risk limit is 2k, and so on. And you can use it however you want. So yes, it can be 2 trades on different instruments with a risk of <2.5% each. But if at first you got a loss of 2.45%, then...Ignored
Disliked{quote} Thank you. I talked a little with their chat support, the guy was good. About the rules 50%, an example with a 100 K (very interesting and not intuitive) The Daily D is 5% , then 5000. You can risk only 50% of this in one trade (2500) Suppose you lost 2000 with the first trade (2%) You can now risk only 50% of the rest (3%), means 1.5% ---> 1500 max on the second trade. In other words, if you are able to never fail with this rules, you can never reach the Daily D maxIgnored
Disliked{quote} One note (you are probably aware but it's worth to mention): when they say 50% in one trade it could be several trades if they are in the same symbol. For example, instead of 5 lots EURUSD someone can do 5x1 lot and this is counted, all together, as one trade Regarding what you said, it's challenging. Using you example of 100K account and you open 2 trades, one in EURUSD and another in GBPUSD. You risk 2.500 in one and 2.500 in another. That's within the rule (2.5% each). However you close one with -2.000. Now you're only allowed to lose...Ignored
Disliked{quote} Thank you. I talked a little with their chat support, the guy was good. About the rules 50%, an example with a 100 K (very interesting and not intuitive) The Daily D is 5% , then 5000. You can risk only 50% of this in one trade (2500) Suppose you lost 2000 with the first trade (2%) You can now risk only 50% of the rest (3%), means 1.5% ---> 1500 max on the second trade. In other words, if you are able to never fail with this rules, you can never reach the Daily D maxIgnored
DislikedAre we able to check the metrics of this guy in TFF site ? I remember they were publishing all the payouts. https://www.youtube.com/watch?v=bo1KjrFHInUIgnored
Disliked{quote} Yes. https://trueforexfunds.com/payouts/2023/01/ On the first page, you can see a guy from Italy with a 200 000 account who made 70k. I think it's himIgnored
Disliked{quote} Thanks! That guys has an account of 200K and trades 40 lots of GBPUSD which is roughly 4M Daily max loss on 200K account is 10K. 10k on 4M is 0.25% (about 30 pips), not counting with slippage. Good that he got a huge payout but this is not sustainable.Ignored
Disliked{quote} Make your case here on their thread. Worth a shot. https://www.forexfactory.com/thread/...s-discussionqaIgnored
DislikedI tried to trade big lots. I have a good win rate and risk reward ratio, but if you trade a large lot, even 3-4 losing trades in a row can make you tilt. Tilt is the hardest part of trading for me if we talking about big lots. It even doesn't help that I've played online poker pretty well in the past lol I think there is nothing better than winning in the long run. I remembered the MFF stats where they said that most of their record payouts means losing the account in the next 2 weeks.Ignored
Disliked{quote} Bigpip is a new company and max funding was already 1M. Now they increased to 2M. Sounds strange that a new company is offering so much capital, while others long stablished only offer 400K, 600K or even 300K/250K. They are owned by the guys also running a Telegram prop firm groupIgnored
Disliked{quote} Opened an account with them and afterwards realized that they are using the standard feed instead of raw ecn like all other props. Especially the Alpari standard spreads are really bad. I was able to swap to 8cap but I consider them not using raw ecn feed a drawback.Ignored
Disliked{quote} I agree. And I would accept if I failed. But I did not. I'm surprised they need to put such practices in place which can only damage their reputation. I didn't expect that from a firm like MFFIgnored
Disliked{quote} Opened an account with them and afterwards realized that they are using the standard feed instead of raw ecn like all other props. Especially the Alpari standard spreads are really bad. I was able to swap to 8cap but I consider them not using raw ecn feed a drawback.Ignored
Disliked{quote} Is it really so bad? I compared the demo standard account they provide with the 8cup ecn demo and the difference on fx pairs seems as small as the equivalent of the commission, on xau and indices the spread is even exactly the same. Considering others charge commissions on xau and indices while BigPip does not this makes their trading costs on xau and indices much cheaper than of the others using 8cap Am I missing something?Ignored
Disliked{quote} My post didn't address your situation. But I'm sorry that mff showed indifference to you. It seems to be a normal practice for most props. "Rules are rules and so on". When mff just started, they were more customer oriented, but things have changed. When I traded with them I haven't any problems, but I can say it was a different MFF. Then I was cancled by cancel culture and everything that I have now is my funded status role in their discord lol It is strange that support often does not understand some basic things about trading. I remember...Ignored