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  • #10,821
  • Sep 13, 2022 2:06pm Sep 13, 2022 2:06pm
Quoting TrAndy1
{quote} Really ? MFF has a trailing DD for the day ? Where did you read this ? It is still from the start of the new day and not trailing as I read on their website. You can see this. {image}
Also, where did you find this?
I can't see it on their site...
which is not the easiest to navigate, I gotta say.
  • #10,822
  • Sep 13, 2022 2:12pm Sep 13, 2022 2:12pm
Quoting doyathink
{quote}... within a 24 hour period starting at 5pm EST. It's not clear from this wording...
What is not clear about 24hrs period starting every day at 5pm EST?
Money is made by sitting, not trading
  • #10,823
  • Sep 13, 2022 2:14pm Sep 13, 2022 2:14pm
Quoting doyathink
{quote} Also from their site: 5% Daily Drawdown You must not have a 5% drawdown based on your balance or equity on your FOREX trading account within a 24 hour period starting at 5pm EST. It's not clear from this wording that it is the amount at the start of the day that applies, since it says "within a 24 hour period" ... so, if you gained 7% and then lost 6% within that 24 hour period, would you not have violated?
I would not interprete that much. It seems that only the word starting is missed in "5% drawdown based on your starting balance or equity". Otherwise it makes no sense because it would be a meaning conflict to other statements about MFF daily drawdown. I had the screenshot made from the homepage, first site. Must be correct.
  • #10,824
  • Sep 13, 2022 2:22pm Sep 13, 2022 2:22pm
I can confirm it is 5% of balance or equity beginning at 5 pm EST. Your dashboard will display the exact figure for balance and equity which you would violate. As long as you do not fall below that within the 24 hour period you are good. Go up 22%, come back 24%, go up 38%, come back 40%. All good. Simple solution is be flat before 5 pm, then those 2 figures are identical. Reopen the positions when spreads normalize at 6 pm. Trust me, nobody is missing anything from 5-6 pm. If folks would just do this ONE thing, it would probably eliminate 80% of the whiners and complainers.
  • #10,825
  • Sep 13, 2022 2:45pm Sep 13, 2022 2:45pm
ok...
well, chatted to MFF support and cleared it up.
I find the wording on the site for both the daily and the account dd a bit imprecise,
but acc to them:

Mateusz Banasiak
12% overall dd is always calculated from the initial account size
5% daily drawdown is calculated from your balance or equity at 00:00 GMT+3
  • #10,826
  • Sep 13, 2022 2:58pm Sep 13, 2022 2:58pm
Quoting Vitore
{quote} What is not clear about 24hrs period starting every day at 5pm EST?
the "within" makes it unclear...

adding "starting" before balance or equity would have made it clear, too.

"starting every day at 5pm EST" can apply to the "period" only, or the "balance or equity". Because it's far separated in words from "equity or balance", and right after "period", with no comma, it's more logical to apply it to "period".
  • #10,827
  • Sep 13, 2022 3:04pm Sep 13, 2022 3:04pm
Quoting doyathink
ok... well, chatted to MFF support and cleared it up. I find the wording on the site for both the daily and the account dd a bit imprecise, but acc to them: Mateusz Banasiak 12% overall dd is always calculated from the initial account size 5% daily drawdown is calculated from your balance or equity at 00:00 GMT+3
hmmmm, now you have me confused lol. 00:00 GMT +3 is 8pm eastern, my dash resets everyday at 5 pm, which is 00:00 on server.
I guess it truly shows how much of an issue I have with daily DD lol
  • #10,828
  • Sep 13, 2022 4:14pm Sep 13, 2022 4:14pm
Another day, another dollar. Not really cause I was in a plane, landed to the market melt down and had to turn off discord because why would I read that crap.

Then I come here for some sane conversation and find people saying mff had trailing dd.. The world turns our money burns.

In other news, FTMO is still fine, but their conditions have gotten a little worse lately spreads are a little wider, slippage is a little wider.
  • #10,829
  • Sep 13, 2022 4:38pm Sep 13, 2022 4:38pm
Quoting Takisd
Another day, another dollar. Not really cause I was in a plane, landed to the market melt down and had to turn off discord because why would I read that crap. Then I come here for some sane conversation and find people saying mff had trailing dd.. The world turns our money burns. In other news, FTMO is still fine, but their conditions have gotten a little worse lately spreads are a little wider, slippage is a little wider.
It's "mostly" sane here. Can't get 100% though.
  • #10,830
  • Edited 6:15pm Sep 13, 2022 5:46pm | Edited 6:15pm
Quoting Takisd
Another day, another dollar. Not really cause I was in a plane, landed to the market melt down and had to turn off discord because why would I read that crap. Then I come here for some sane conversation and find people saying mff had trailing dd.. The world turns our money burns. In other news, FTMO is still fine, but their conditions have gotten a little worse lately spreads are a little wider, slippage is a little wider.
yeah, sorry for the MFF kerfuffle...
my bad,
mostly.


MFF index spreads and execution are still roughly the same as FTMO?
  • #10,831
  • Edited 2:26am Sep 14, 2022 12:50am | Edited 2:26am
hi all. i havent come here to FF for almost a year. 2022 has been ok trading wise but rough from ay other aspect of life for me.

a few days ago i started the 300k MYFF challenge. i got to max daily drawdown for a 25 lot trade on CHFJPY because of IMAGINARY ASK PRICE.
i have asked them to show me the tick data of that specific 1m candle that threw me out.

below are my calculation and the tick data i was provided with.

my question is does spread NOT exist in the tick data? cause all i hear from MYFF seems like a bunch of BS

my account has been violated. i contacted via live chat and talked for 40-45m with an assistant there.

by my calculations there is no violation of the drawdown limit of balance or equity.

average pip value = (total loss 3851.27)/(15000.8 exit price in pips-14978.7 entry price in pips)=174.26$/per pip for 25 lots

max ASK price based on tick data that i received from the live chat customer support
150.368

max open loss = (15036.8- 14978.7) * 174.726 = 10151.58$

5% of 301197.19 = 15.059,85$

based on your tick data (image attached) and the chart data for the 1m candle in question, there is no violation. now , can you show me were my calculations are wrong? based on real data?

if not, hwo do we proceed? does this account get reactivated or i get a new one?


ps. dont ask why i didnt exit the trade, obsiously i would have at least trailed it but i was taking a shower (it was +16k at its max, i was just unfortunate)
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offering my system to copy trade. check my link
  • #10,832
  • Sep 14, 2022 1:33am Sep 14, 2022 1:33am
Quoting nikosk0
hi all. i havent come here to FF for almost a year. 2022 has been ok trading wise but rough from ay other aspect of life for me. a few days ago i started the 300k MYFF challenge. i got to max daily drawdown for a 25 lot trade on CHFJPY because of IMAGINARY ASK PRICE. i have asked them to show me the tick data of that specific 1m candle that threw me out. below are my calculation and the tick data i was provided with. my question is does spread NOT exist in the tick data? cause all i hear from MYFF seems like a bunch of BS my account has been violated....


don't feel sorry, they have this kind os issues and they stole ppls money by the sack of liquidity issue. i lost 2 acc.

1. I took large gbpnzd trade on extremely high I was so confident that it will go down and it was, but I was kicked out due to large spreads issue. and on that very day I checked many brokers nothing happened other than normal rollover time spread widening but I was stopped out also few member here on this thread also confirmed that they didn't face that much either. so u can relate what happened. also at that time I saw one member complain he also faced the same type of issue on chf/jpy pair and the strange thing was he and his friend took same trade almost on the same zone, but his acc got wiped out due to very large speeds widening.


2. on last week my trades went wrong so I hedged all my position to prevent daily equity limit breach, 2-3 hour after making hedge I took 1 trade and closed within 40 min. after 2-3 hurs later i tried to make a new trade on that acc, but found all my trade closed due to daily limit breach. my position were hedged almost 5 hrs ago after making a hedge i took trade and closed. then how this happened? the same reply i received from them that u breached the daily limit reach. But how they failed to explain.

they r catchy by their offer and pays the traders, but in this prop industry firms main income is subscription fee not the profit split, so they play dirty games with clients whenever they get thinnest chance.
  • #10,833
  • Sep 14, 2022 2:04am Sep 14, 2022 2:04am
Well, I'm not here to criticize anyone's trading style. I was also in during yesterday's US CPI, with 250k account. On purpose. I gambled and lost. Luckily for me, not the whole account but almost. I was also in a solid profit, small position, expecting volatility, I didn't even see I was gambling - until the report was out. My bad. I'm an idiot. Trading for 6+ yrs and still do the same stupid mistakes.

As I said, didn't lose the account and even stayed in the profit overall, but I could have lost the whole account so easy. It was really close yesterday. But even if i did, I would never blame the prop firm or the market. I would only blame myself for my ignorance. Fed interest rates, NFP, CPI - it's always the same story.
Money is made by sitting, not trading
  • #10,834
  • Sep 14, 2022 2:15am Sep 14, 2022 2:15am
Quoting Vitore
Well, I'm not here to criticize anyone's trading style. I was also in during yesterday's US CPI, with 250k account. On purpose. I gambled and lost. Luckily for me, not the whole account but almost. I was also in a solid profit, small position, expecting volatility, I didn't even see I was gambling - until the report was out. My bad. I'm an idiot. Trading for 6+ yrs and still do the same stupid mistakes. As I said, didn't lose the account and even stayed in the profit overall, but I could have lost the whole account so easy. It was really close yesterday....

i had a 20 pip stop loss witch was violated for 3 pips and i got an account break for an 85 pip worth of loss. like saying 65 pip slippage. since there is no tick data to prove them right it looks like their system is purposly build in such events to add an imaginary 20-30 pips for a sort period of time to cause violations.

even if you are the best trader you have to find the style to trade with those suckers if you want to get paid.

1.i always build up a buffer before going bigger so i never go into any kind of drawdown.
2. only daytrading suits them. no open trades during rollover for whatever you may think. close th trade and reopen it.
3. new rule, never trade more than 3 lots per 100k account ballance.
4. from the above listed, only scalping works for these firms. any other kind of traiding will long term fail. or succeed once for the challenge and then go for 1-2% monthly returns
offering my system to copy trade. check my link
  • #10,835
  • Edited 2:51am Sep 14, 2022 2:36am | Edited 2:51am
Quoting nikosk0
{quote} i had a 20 pip stop loss witch was violated for 3 pips and i got an account break for an 85 pip worth of loss. like saying 65 pip slippage
IC Markets had a gap of 185 pips on S&P yesterday while there was no gap with E8. I trade with E8 but copy all trades from my IC Markets account. So E8 had much better conditions yesterday but I still lost because the IC Markets price feed gapped down big. I don't complain as such is reality. I should have anticipated it.
(Btw - no, I couldn't copy SL as E8 price feed is quite different to ICM and SLs are copied as the absolute price, not the relative distance in pips. So at first, my ICM position is closed by SL and only then E8 closure is triggered at market price. Of course with additional slippage...)

Quoting nikosk0
{quote}even if you are the best trader you have to find the style to trade with those suckers if you want to get paid.
you have to be able to trade the real market if you want to get paid. By anyone
Money is made by sitting, not trading
  • #10,836
  • Sep 14, 2022 3:48am Sep 14, 2022 3:48am
Quoting Vitore
you have to be able to trade the real market if you want to get paid. By anyone
i do live trade with xm markets. never had such problems. the spread is not the best but it doesnt get ridiculous like this.

dotn compare 85 pips of chfjpy to 85 pips of us30.

85 pis of us30 is nothing
offering my system to copy trade. check my link
  • #10,837
  • Edited 4:16am Sep 14, 2022 4:03am | Edited 4:16am
Quoting nikosk0
{quote}dotn compare 85 pips of chfjpy to 85 pips of us30. 85 pis of us30 is nothing
I didn't trade us30 (DOW) but us500 (S&P). And I didn't say 85 pips but 185 pips. That's about 20% of the US500 daily ATR. And those 20% was just a gap between two ticks. The actual slippage was about 50% which is pretty comparable to 85pips with the CHFJPY (59% of the 144 daily ATR pips)
Btw. I also never had such a gap/slippage with IC Markets but I know sh*t happens even with the best brokers. Especially during Fed/NFP/CPI
Money is made by sitting, not trading
  • #10,838
  • Sep 14, 2022 5:23am Sep 14, 2022 5:23am
I was checking the conditions of Funded Next and found this:

Quote
You can trade during the news without restrictions in the evaluation model's assessment phases (phases 1 and 2). But once you receive the real account, as the market is exceptionally volatile during news times and also because this is the most likely time when slippages can occur, you are not allowed to open or close any trade 2 minutes before and after the news. This includes market execution and opening/closing pending orders (including take profit and stop loss).

This is what FTMO had in the beginning, before they created swing accounts.
Either one has to close positions of make sure that positions is so small that TP and SL won't be triggered even with a wild movement.
  • #10,839
  • Sep 14, 2022 5:36am Sep 14, 2022 5:36am
Quoting Capablanca
I was checking the conditions of Funded Next and found this: {quote} This is what FTMO had in the beginning, before they created swing accounts. Either one has to close positions of make sure that positions is so small that TP and SL won't be triggered even with a wild movement.
That is even worse than FTMO because you cannot exit your position until the 2 minutes are left. No market order, no stoplosses, nothing...just wait and see...so bad.
  • #10,840
  • Sep 14, 2022 6:01am Sep 14, 2022 6:01am
Quoting TrAndy1
{quote} That is even worse than FTMO because you cannot exit your position until the 2 minutes are left. No market order, no stoplosses, nothing...just wait and see...so bad.
And if SL/TP is accidentally triggered your account is terminated even without violating any other rule. You can even be in large profit with the price move going in your favor but if your TP gets hit the game's over.
That's why Funded Next is a clear no go for me
Money is made by sitting, not trading
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