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  • #4,821
  • Oct 24, 2021 8:26pm Oct 24, 2021 8:26pm
Quoting Paulscaff1
{quote} Yeah its a pretty shit rule. Blake said its because the EA's (bots) were taking advantage of demo conditions and the trades werent realistic or provide good enough data to copy, which I can understand to be fair. TFT arent able to single out which EAs are being used to thats why they cancelled the use of all kinds, including sensible ones I.E our trade manager. Im using MFF for my evaluation at the moment and they allow a trade manager, but apparently they are having the same problem with bots, but are willing to take the risk at the moment...
Yeah I would doubt seriously they go down that road. They have some sharper chaps there that seem to know what their doing. Blake is as green as they get.
Trade with confidence, trade without fear.
  • #4,822
  • Oct 24, 2021 11:39pm Oct 24, 2021 11:39pm
Quoting Paulscaff1
{quote} They wouldnt know your using it because you would be using a cloud copier. They would just show up on mff as manual trades
When you place an order an MT4 or MT5, they know you are using an EA. You can also know that some order was placed by an EA, when you hover your mouse on a specific order on the Terminal/Trade window. A hint will pop up describing whether the order was manually placed or not.

On orders placed on the cloud copier, they don't use MT4 or MT5 to place the order. They have reverse engineered the system and produce a simulated manual order across the network. If they have done things right, the broker will have no way to tell that the order was placed automatically. However the broker may find that many orders are coming from a limited number of IP addresses.

So, the cloud copier may not be safe.
Follow your guts, if you want to lose your money...
  • #4,823
  • Oct 25, 2021 12:22am Oct 25, 2021 12:22am
MFF demo server down since asia open. Almost 8 hrs. !

They may loose their credibilty this way.

Last week, I think on Friday the server was down too.

FTMO long ago had such issues but not now.
Intraday only.
  • #4,824
  • Oct 25, 2021 2:46am Oct 25, 2021 2:46am
Quoting navk
MFF demo server down since asia open. Almost 8 hrs. ! They may loose their credibilty this way. Last week, I think on Friday the server was down too. FTMO long ago had such issues but not now.
MFF demo server still down ..unreal....
I got their email

Darren (My Forex Funds)
Oct 25, 2021, 1:22 EDT
Hello,

We are aware of the issue with the MT4 demo server being down at the moment and we are working on bringing them back online. Apologies for the inconvenience.
Let me know if you have any more concerns, questions and/or clarifications.
Regards,
Darren
Customer Support Agent
www.myforexfunds.com
  • #4,825
  • Oct 25, 2021 2:56am Oct 25, 2021 2:56am
Quoting Boulder
{quote} MFF demo server still down ..unreal.... I got their email Darren (My Forex Funds) Oct 25, 2021, 1:22 EDT Hello, We are aware of the issue with the MT4 demo server being down at the moment and we are working on bringing them back online. Apologies for the inconvenience. Let me know if you have any more concerns, questions and/or clarifications. Regards, Darren Customer Support Agent www.myforexfunds.com
MFF demo server is finally working now...
  • #4,826
  • Oct 25, 2021 4:55am Oct 25, 2021 4:55am
Quoting JotaP
{quote} When you place an order an MT4 or MT5, they know you are using an EA. You can also know that some order was placed by an EA, when you hover your mouse on a specific order on the Terminal/Trade window. A hint will pop up describing whether the order was manually placed or not. On orders placed on the cloud copier, they don't use MT4 or MT5 to place the order. They have reverse engineered the system and produce a simulated manual order across the network. If they have done things right, the broker will have no way to tell that the order was...
So the issue would then be orders from all different accounts coming from the same IP, which makes sense.

*Devils Advocate* if someone were to open a trading floor/office, with several desks, with each trader trading their own prop firm accounts. (Which I would assume does happen) would this be a problem aswell because all these accounts wpuld be trading from the same IP?

Obviosly this is specific to MFF, as far as I know TFT havent said anything about the use of cloud copiers so I guess its all good on that end.
  • #4,827
  • Edited 5:54am Oct 25, 2021 5:40am | Edited 5:54am
Quoting Paulscaff1
{quote} *Devils Advocate* if someone were to open a trading floor/office, with several desks, with each trader trading their own prop firm accounts. (Which I would assume does happen) would this be a problem aswell because all these accounts wpuld be trading from the same IP?
Yes, we can always argue that we are sharing the same IP with countless other individuals.
However, they may not believe, in particular if some of them live in different countries.

In any case, I believe they might have purchased a lot of different IPs to make tracking more difficult, but the question is: How many IPs would be necessary to make tracking difficult? Probably a lot more than they can afford.
Follow your guts, if you want to lose your money...
  • #4,828
  • Oct 25, 2021 6:58am Oct 25, 2021 6:58am
Quoting Expo33
{quote} Hmmmm.......so apparently they can't be bothered to update their website? And if they wish they can just pull a rabbit out of a hat at any time and say, "see, it says right here in the rules". Or I can trust some kid named Connor in discord? I chatted with someone on their website chat a couple of weeks ago and they said I had to submit my EA. A few loose ends at MFF. Not impressed.
You make a valid point as what is written is not what is said so technically they could go back on their word and stick to the old rule.

So far they haven't and I've been using my EA's with no issues on my funded account.

If they do go back on their word and suddenly change their mind it will not look good for them and will def damage their credibility, they should either correct what is written on the website or stop telling people something different.
Truth is like poetry. And most people f*cking hate poetry.
  • #4,829
  • Oct 25, 2021 1:54pm Oct 25, 2021 1:54pm
Quoting Vitore
{quote} As promised, some updates about my FTMO experience fyi: Challenge finished with the last mini-lot trade a few minutes after the midnight earlier today. Confirmation appeared in the client section within 1 minute, Verification account created and login credentials delivered together with the detailed challenge account performance evaluation within the next 60 minutes (on Sunday 1am!). So apparently everything automated and working just perfect. edit - the time is GMT+2, the time zone where FTMO has its offices
A bit faster than expected (with a bit of luck again Polkadot moved exactly as I anticipated) the verification targets have been met today so I need to trade mini lots again for the next 9 days to formally accomplish the phase.
Money is made by sitting, not trading
  • #4,830
  • Oct 25, 2021 11:34pm Oct 25, 2021 11:34pm
Quoting Vitore
{quote} A bit faster than expected (with a bit of luck again Polkadot moved exactly as I anticipated) the verification targets have been met today so I need to trade mini lots again for the next 9 days to formally accomplish the phase.
I am not sure you have used Risk Management or it was just gambling.
But here we can see the reason some prop firms impose consistency rules.
Follow your guts, if you want to lose your money...
  • #4,831
  • Edited 12:20am Oct 26, 2021 12:09am | Edited 12:20am
Quoting JotaP
{quote} I am not sure you have used Risk Management or it was just gambling. But here we can see the reason some prop firms impose consistency rules.
Consistency rule is the least reasonable rule I've ever seen. Keeping the same lot size has nothing to do with the risk management whatsoever. Even more so when some instruments have completely incomparable lot sizes. It is only a mean of the prop firms to make traders fail (to keep their fees) hidden behind the risk management gibberish.

But back to my trading. You can only use 1:5 leverage for DOTUSD (with FTMO) of which I only used a small portion. I risked about 1.6% to gain 5.3% I wouldn't call it gambling but some may consider the risk much too big. Which I understand. I wouldn't risk as much on the funded account but I'm comfortable with risking such an amount at the start of a challenge or verification.
Money is made by sitting, not trading
  • #4,832
  • Oct 26, 2021 1:59am Oct 26, 2021 1:59am
Quoting Vitore
{quote} Consistency rule is the least reasonable rule I've ever seen. Keeping the same lot size has nothing to do with the risk management whatsoever. Even more so when some instruments have completely incomparable lot sizes. It is only a mean of the prop firms to make traders fail (to keep their fees) hidden behind the risk management gibberish. But back to my trading. You can only use 1:5 leverage for DOTUSD (with FTMO) of which I only used a small portion. I risked about 1.6% to gain 5.3% I wouldn't call it gambling but some may consider the...
1.6% is a reasonable risk percentage and you did a really good shot.
Leverage is not directly related with risk management.
If your maximum loss was established at 1.6% that's what you would lose no matter what the leverage was.
Leverage would only limit the maximum position sizes or number of positions you would be able to open.
Newbies love high leverages to open many positions or huge positions and then blow the accounts fast without realizing the reason.
Follow your guts, if you want to lose your money...
  • #4,833
  • Oct 26, 2021 2:45am Oct 26, 2021 2:45am
Quoting JotaP
{quote} 1.6% is a reasonable risk percentage and you did a really good shot. Leverage is not directly related with risk management. If your maximum loss was established at 1.6% that's what you would lose no matter what the leverage was. Leverage would only limit the maximum position sizes or number of positions you would be able to open. Newbies love high leverages to open many positions or huge positions and then blow the accounts fast without realizing the reason.
Thank you. I understand the meaning of leverage. I only stated it for illustration.

To be honest, I was prepared to risk up to about 2% but most likely I would start to liquidate gradually after crossing the 1.8% mark. I was lucky the dip stopped at about 1.6% as I was scaling in (intentionally) and did not manage to enter at the best level. It is my strategy to start the challenge or verification more aggressively as my strategy has a solid win rate which gives me a good chance of finishing it by that first trade. And if I lose, I can still recover from that 1.8-2% loss during the remaining 29 or 59 days even with a low risk trading ;-)
Money is made by sitting, not trading
  • #4,834
  • Oct 26, 2021 2:59am Oct 26, 2021 2:59am
Just watched the advertising video for ment funding. Guy couldn't resist taking multiple hits at funding talent and their "simulated gambling experience" nonsense.
Having no time limit is really a good idea and i wonder if ftmo or mff would ever consider such an option. Anyway, my 6 months wait and see period for all new prop firms has began, let's wait for the reviews and complaints to roll in.

Inserted Video
  • #4,835
  • Oct 26, 2021 3:04am Oct 26, 2021 3:04am
Quoting Vitore
{quote} Thank you. I understand the meaning of leverage. I only stated it for illustration. To be honest, I was prepared to risk up to about 2% but most likely I would start to liquidate gradually after crossing the 1.8% mark. I was lucky the dip stopped at about 1.6% as I was scaling in (intentionally) and did not manage to enter at the best level. It is my strategy to start the challenge or verification more aggressively as my strategy has a solid win rate which gives me a good chance of finishing it by that first trade. And if I lose, I can still...
The leverage limits the maximum position we can take.
No Position Size calculator (risk based, then) asks you for the leverage. The Margin Calculators will ask for the leverage.
This is not intuitive.
Follow your guts, if you want to lose your money...
  • #4,836
  • Oct 26, 2021 3:31am Oct 26, 2021 3:31am
Quoting JotaP
{quote} The leverage limits the maximum position we can take. No Position Size calculator (risk based, then) asks you for the leverage. The Margin Calculators will ask for the leverage. This is not intuitive.
I agree. But I don't use any calculators, so I have no idea what they require. I only use indicators which I developed myself and which would appear unintuitive to most traders. E.g. I never use lots or pips as I find them confusing :-D
Money is made by sitting, not trading
  • #4,837
  • Oct 26, 2021 3:45am Oct 26, 2021 3:45am
Quoting Vitore
{quote} I agree. But I don't use any calculators, so I have no idea what they require. I only use indicators which I developed myself and which would appear unintuitive to most traders. E.g. I never use lots or pips as I find them confusing :-D
All right, since you are doing well, I will not dispute your own method.
Follow your guts, if you want to lose your money...
  • #4,838
  • Oct 26, 2021 6:43am Oct 26, 2021 6:43am
Quoting Vitore
{quote} I agree. But I don't use any calculators, so I have no idea what they require. I only use indicators which I developed myself and which would appear unintuitive to most traders. E.g. I never use lots or pips as I find them confusing :-D
"I never use lots or pips as I find them confusing"
Ok. What you buy or sell in your platform??? Kg? You have your own platform?
You don't see pips in your platform? Come on.
  • #4,839
  • Oct 26, 2021 7:09am Oct 26, 2021 7:09am
Quoting Tim_isoara
{quote} "I never use lots or pips as I find them confusing" Ok. What you buy or sell in your platform??? Kg? You have your own platform? You don't see pips in your platform? Come on.
Well, it is important to state that I don't trade forex. Pips were created to make forex price changes easier to read and operate with. Other assets (symbols, instruments or whatever you wish to call it) are easier to trade using points. It's much more convenient as 1 point means always the same thing for any asset whereas pips are not standardized outside the forex world. So for example when trading US30 one broker uses 1 point = 1 pip whereas another one defines as as 1 point = 10 pips. Metals are the same story, not even mentioning crypto. Crypto is an absolute mess. So pips are useless. My trading platform (cTrader) shows that of course but I ignore it. Who would remember all the different definitions? You can only make mistake. It's useless.

Exactly the same applies for lots. No standardization across brokers either, e.g. one uses 1lot = 5000 oz of silver, another one uses 1 lot = 1000 oz. 1 lot of US30 can mean 10 units or 1 unit. You can bet. Crypto is a mess again. In cTrader you can switch volume from lots to units (thanks God!!). That's what I always use. I never used lots. Lots are useless :-D
Money is made by sitting, not trading
  • #4,840
  • Oct 26, 2021 7:17am Oct 26, 2021 7:17am
Quoting Tim_isoara
{quote}What you buy or sell in your platform??? Kg? You have your own platform?
cTrader always shows me the relevant unit which I trade. Be it oz, barrels, indices, coins, contracts (e.g. soft futures) etc. Don't you see what exactly you trade in your trading platform?
Money is made by sitting, not trading
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