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  • #481
  • Oct 22, 2020 6:25am Oct 22, 2020 6:25am
Just another thing that has to be cleared up is the lots traded aspect as far as DAX is concerned because one DAX lot is only one mini-lot (at least with some brokers). If they class one DAX lot as a normal lot then I'm in trouble too!
  • #482
  • Edited 6:41am Oct 22, 2020 6:28am | Edited 6:41am
Quoting Mtinifx
Just another thing that has to be cleared up is the lots traded aspect as far as DAX is concerned because one DAX lot is only one mini-lot (at least with some brokers). If they class one DAX lot as a normal lot then I'm in trouble too!
They only look at total lots not which pair the lot belongs to. For DAX I avoid trading the first hour (After LO) for now. Some crazy swings lately.

And yeah they class one DAX lot as normal.
  • #483
  • Oct 22, 2020 6:31am Oct 22, 2020 6:31am
Quoting Mtinifx
Just another thing that has to be cleared up is the lots traded aspect as far as DAX is concerned because one DAX lot is only one mini-lot (at least with some brokers). If they class one DAX lot as a normal lot then I'm in trouble too!
By the way, double amount of lots is still within parameters. You are allowed to deviate -2 or +2 from your daily average. Use that excel I uploaded here to make sure.
  • #484
  • Oct 22, 2020 9:45am Oct 22, 2020 9:45am
Quoting Mtinifx
{quote} OutThere No I'm not banning you as it appears that you have a Forextips or Myff account. Perhaps you could confirm? If you have not, I must remind you that this is NOT a "commercial content" thread where people can run down the company/prop firm as they like. This is a journal which I decided to start regarding my journey with Myff / Forextips. I did widen it out to any others who are trading a Myff/FT account so that they can also share their experience. Those are the parameters. What has happened over the last few days is that we've had...
As I said, the no EA condition was a deal breaker, so no, I didn't open accounts with them.

I assure you that I didn't spare FTMO in their thread.

I'll let you carry on in peace in your thread as you are obviously an all manual trader and therefore happy as can be.
Thanks n bye.
  • #485
  • Oct 22, 2020 11:42am Oct 22, 2020 11:42am
Quoting maflip
{quote} By the way, double amount of lots is still within parameters. You are allowed to deviate -2 or +2 from your daily average. Use that excel I uploaded here to make sure.
Thanks pal

I'm a bit confused about 1 DAX lot being equal to 1 normal lot but OK!

Just wanted to ask you if about the excel calculation. Still one trading day left for this week right? Does the min and max lots/trades at the bottom reflect the min and max amount of lots/trades I can open tomorrow? So (see below) I can or must open trades for min 3 lots and max 12 lots and a min of 4.5 trades and a max of 17.5 trades. Hope that's right?
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  • #486
  • Oct 22, 2020 4:48pm Oct 22, 2020 4:48pm
Quoting Mtinifx
{quote} Thanks pal I'm a bit confused about 1 DAX lot being equal to 1 normal lot but OK! Just wanted to ask you if about the excel calculation. Still one trading day left for this week right? Does the min and max lots/trades at the bottom reflect the min and max amount of lots/trades I can open tomorrow? So (see below) I can or must open trades for min 3 lots and max 12 lots and a min of 4.5 trades and a max of 17.5 trades. Hope that's right? {image}
The min and max you see now can change based on your new entry later today. But to be safe, if you have a clue on how many lot and number of trade you are going to trade better enter it there first. Seems you are within parameter. I don't see any consistency rule broken there.

But I'm sure if you enter trade based on your average tomorrow you will be ok. Or above the minimum and below the maximum.

Regards DAX, yes 1 lot is 1 mini lot. But when they go to FXBlue to check it does not tell them if that lot is a mini or regular. To be sure you can ask them about it.
  • #487
  • Oct 22, 2020 4:55pm Oct 22, 2020 4:55pm
Quoting Mtinifx
{quote} Thanks pal I'm a bit confused about 1 DAX lot being equal to 1 normal lot but OK! Just wanted to ask you if about the excel calculation. Still one trading day left for this week right? Does the min and max lots/trades at the bottom reflect the min and max amount of lots/trades I can open tomorrow? So (see below) I can or must open trades for min 3 lots and max 12 lots and a min of 4.5 trades and a max of 17.5 trades. Hope that's right? {image}
If you trade the max lot and max trade on that sheet for day 5. Your Day one will be flagged. So stay below the max.

Also, they just told me, calculations are done weekly, but all the weeks must also be within the consistency rule for a month.
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  • #488
  • Oct 23, 2020 2:27am Oct 23, 2020 2:27am
Quoting maflip
{quote} If you trade the max lot and max trade on that sheet for day 5. Your Day one will be flagged. So stay below the max. Also, they just told me, calculations are done weekly, but all the weeks must also be within the consistency rule for a month. {image}
Thanks bro

I did email them regarding DAZ and they told me that ten DAX lots are indeed equal to one normal lot.

I might stick up my TE later today - new strategy seems to be working OK but I'm still leaving way too many pips on the table
  • #489
  • Oct 23, 2020 2:29am Oct 23, 2020 2:29am
Quoting JsCave
you was doing great. you are great trader.. keep good job just take care from small details. good luck

Hi bro

Thanks so much for your kind words
  • #490
  • Oct 23, 2020 4:02am Oct 23, 2020 4:02am
Hi Mtinifx,

Following your thread with interest as you are doing something similar to me

I also started using MyForexFunds last month or so ago.

I'm documenting my own journey (since July) in my own thread and added MFF to the other prop firms I am also using. Couldn't resist the 'no monthly fees' offer last month and pleased with them so far. Though the consistency rule needs improvement I feel.

But someone posted this ...

Quoting Koop
{quote} Good Job Man... All the best going forward. btw, care to share how much bonus was paid out to you both times? as i have read that they do not pay out amounts over $1000 and above.

To be honest can't see how this could be true for various reasons. But have you come across anything about this?
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #491
  • Oct 23, 2020 5:38am Oct 23, 2020 5:38am
Quoting Freefox
Hi Mtinifx, Following your thread with interest as you are doing something similar to me I also started using MyForexFunds last month or so ago. I'm documenting my own journey (since July) in my own thread and added MFF to the other prop firms I am also using. Couldn't resist the 'no monthly fees' offer last month and pleased with them so far. Though the consistency rule needs improvement I feel. But someone posted this ... {quote} To be honest can't see how this could be true for various reasons. But have you come...
Hi Freefox

Nice to have you onboard here. Welcome!

Totally agree with you about the consistency rule. I've email them about it and been promised that full matrix facility will soon be provided so that one can immediately check how many trades/lots one can trade on a certain day. Seems though that it's better to trade more then you want in the first day or so so that later if you need to trade more lots you can!

No I have not come across that about max $1000. Quite sure the guy is wrong because I'm sure that someone was paid out $1300 the other day. I'll try to find the record.
  • #492
  • Oct 23, 2020 7:53am Oct 23, 2020 7:53am
Quoting Mtinifx
{quote} Hi Freefox Nice to have you onboard here. Welcome! Totally agree with you about the consistency rule. I've email them about it and been promised that full matrix facility will soon be provided so that one can immediately check how many trades/lots one can trade on a certain day. Seems though that it's better to trade more then you want in the first day or so so that later if you need to trade more lots you can! No I have not come across that about max $1000. Quite sure the guy is wrong because I'm sure...

Hello my friend, I can make five percent profit per month, but I am worried about different accounts and companies. Do you suggest a place?
  • #493
  • Oct 24, 2020 6:09am Oct 24, 2020 6:09am
Quoting amir101
{quote} Hello my friend, I can make five percent profit per month, but I am worried about different accounts and companies. Do you suggest a place?
Hi amir

Well I can recommend Myff because their customer support is excellent and I do think that they are in it for the long haul. They do pay out and that is for sure because guys who have posted on this thread and others who have posted on Facebook have been paid out OK.

The consistency rule is/was a bit of a bugbear but in actual fact I think it's a good thing because it stops one from overtrading which was definitely one of my weaknesses! On the other hand it's not too constricting because they take one's average over a whole week and allow up to double your average so (for instance) if you are averaging 5 lots/10 trades by Wednesday, on Thursday you can trade up to 10 lots/20 trades. That's exactly what I did and I checked my matrix with them and they said I was 100% fine. With indices where 1 lot is only 1 mini lot, they allow you to trade 10 mini-lots which is still equal to 1 normal lot.

Anyway it's up to you but if you have a nice system whereby you can make at least 5k on a 100k account, you would probably see a nice little payout every 2 weeks
  • #494
  • Oct 24, 2020 6:17am Oct 24, 2020 6:17am
Here is my matrix for last week. As you can see, one has plenty of elbow room. Not so much the number of trades but the number of lots traded is the important thing. The consistency rule is not really a big problem

I was going well but had a really bad day yesterday so I'm back to break even on my account. However I'm still in the game and that is most definitely the important thing!
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  • #495
  • Oct 24, 2020 6:27am Oct 24, 2020 6:27am
Quoting Mtinifx
{quote} Hi amir Well I can recommend Myff because their customer support is excellent and I do think that they are in it for the long haul. They do pay out and that is for sure because guys who have posted on this thread and others who have posted on Facebook have been paid out OK. The consistency rule is/was a bit of a bugbear but in actual fact I think it's a good thing because it stops one from overtrading which was definitely one of my weaknesses! On the other hand it's not too constricting because they take one's average over a whole week and...

Hello thank you I will trust you but what is link site ? I just need proof for withdraw I don't have problem with risk to reward and .....
  • #496
  • Oct 24, 2020 7:16am Oct 24, 2020 7:16am
Quoting Mtinifx
Here is my matrix for last week. As you can see, one has plenty of elbow room. Not so much the number of trades but the number of lots traded is the important thing. The consistency rule is not really a big problem I was going well but had a really bad day yesterday so I'm back to break even on my account. However I'm still in the game and that is most definitely the important thing! {image}

I have a similar spreadsheet to keep track of things. (Still hard though)

But way I understand the consistency rules the 4 trades you took on Day 1 is below the minimum threshold for the week which comes out as minimum 5 trades per day.
*** Shoot for the moon. Even if you miss, you'll land among the stars. ***
  • #497
  • Oct 24, 2020 11:59am Oct 24, 2020 11:59am
Quoting Freefox
{quote} I have a similar spreadsheet to keep track of things. (Still hard though) But way I understand the consistency rules the 4 trades you took on Day 1 is below the minimum threshold for the week which comes out as minimum 5 trades per day.
Same way I understand it. The Live chat rep I spoke to said to remain within + -200% of the weekly average , which is 20 and 5 in this case. Meaning 4 should be a violation.

I guess it's excluded since it was the first day?
  • #498
  • Oct 24, 2020 12:02pm Oct 24, 2020 12:02pm
Quoting amir101
{quote} Hello thank you I will trust you but what is link site ? I just need proof for withdraw I don't have problem with risk to reward and .....
Don't trust him, do your own proper research so you don't come back blaming anyone if something goes wrong.

Off to Facebook to look for withdrawal proof
  • #499
  • Oct 24, 2020 4:02pm Oct 24, 2020 4:02pm
Quoting Mtinifx
Here is my matrix for last week. As you can see, one has plenty of elbow room. Not so much the number of trades but the number of lots traded is the important thing. The consistency rule is not really a big problem I was going well but had a really bad day yesterday so I'm back to break even on my account. However I'm still in the game and that is most definitely the important thing! {image}
What did they say about your Day 1? There is a violation already there. You made 4 trades but 5 should be your minimum.... Also, dont forget they calculate your weekly averages too. On a separate tab on that sheet enter your weekly averages. So your first week lot size avergae is 6.6, average trade 10.
  • #500
  • Oct 25, 2020 5:54am Oct 25, 2020 5:54am
Quoting maflip
{quote} What did they say about your Day 1? There is a violation already there. You made 4 trades but 5 should be your minimum.... Also, dont forget they calculate your weekly averages too. On a separate tab on that sheet enter your weekly averages. So your first week lot size avergae is 6.6, average trade 10.
I think they are a bit flexible because it was day 1. I definitely checked it with them.


Thanks yes - for next week that will be my min/max
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