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  • #5,681
  • Nov 22, 2021 4:40am Nov 22, 2021 4:40am
Quoting 1odi
{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.
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."
  • #5,682
  • Nov 22, 2021 4:45am Nov 22, 2021 4:45am
Quoting Thoughts
{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 traders
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.
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  • #5,683
  • Nov 22, 2021 5:10am Nov 22, 2021 5:10am
Quoting Thoughts
{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 traders
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 on the broker’s timezone."
No difference.
  • #5,684
  • Nov 22, 2021 5:12am Nov 22, 2021 5:12am
Quoting 1odi
{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}
Still you don't understand.
Reset every day at 00.00 time broker. Is fix for all day, not fluctate.
  • #5,685
  • Nov 22, 2021 5:16am Nov 22, 2021 5:16am
Quoting 1odi
{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}
if youre still not satisfied, hop onto their support staff on the MFF site..
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  • #5,686
  • Nov 22, 2021 5:16am Nov 22, 2021 5:16am
Quoting Tim_isoara
{quote} Still you don't understand. Reset every day at 00.00 time broker. Is fix for all day, not fluctate.
i do understand very well, i just thought and was under the impression that it is different on MFF, plus when i asked about the DD here, the guys that are trading already with MFF didn t correct me, which led me 2 assume that it is so. i guess a simple question on MFF thread should do the trick. i don t care about beeing right or wrong, but i do care about having the right information. cheers
  • #5,687
  • Nov 22, 2021 5:18am Nov 22, 2021 5:18am
Quoting Tim_isoara
{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...
? You think MFF DD calculations and FTMO DD calculations are the same?
  • #5,688
  • Nov 22, 2021 5:21am Nov 22, 2021 5:21am
Quoting Thoughts
{quote}? You think MFF DD calculations and FTMO DD calculations are the same?
You can read the rules?
  • #5,689
  • Nov 22, 2021 5:48am Nov 22, 2021 5:48am
Quoting Tim_isoara
{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."
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.
  • #5,690
  • Nov 22, 2021 6:14am Nov 22, 2021 6:14am
Quoting 1odi
{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.
What I remember is that it was when price action was very volatile like it does get on US30 and Gold of course around US open.

I trade Mt4 platform.
  • #5,691
  • Nov 22, 2021 6:16am Nov 22, 2021 6:16am
I am enjoying watching the reviews on prop firms show just how fucking stupid traders are.

If you don't know what rollover is, don't trade. Don't flood my tag feed with bad reviews about companies because you dont know what rollover is.

A lot of the FTMO reviews are that and I can see some in other places as well. If you are listening world, learn what rollover is.
  • #5,692
  • Nov 22, 2021 6:25am Nov 22, 2021 6:25am
When 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 out. That of course applies to both but companies but with FTMO in this scenario your drawdown can be up to $6000. If it goes above $6000 even by $1.00, you're out.

Moral of the story is don't, don't, don't use all the margin that is actually available. That's how they get you!
  • #5,693
  • Nov 22, 2021 6:40am Nov 22, 2021 6:40am
Quoting Mtinifx
When 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...

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 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.
  • #5,694
  • Nov 22, 2021 6:51am Nov 22, 2021 6:51am
Quoting Takisd
{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.
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)_/¯
Trade with confidence, trade without fear.
  • #5,695
  • Nov 22, 2021 6:54am Nov 22, 2021 6:54am
Quoting Cryptosurf
{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)_/¯

5% dd whether it be on equity or balance, is a lot. People shouldn't be trading lambo lots especially if they utter words "I am a swing trader" in the same sentence.
  • #5,696
  • Nov 22, 2021 6:56am Nov 22, 2021 6:56am
Quoting Takisd
{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...
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 $5050
  • #5,697
  • Nov 22, 2021 6:58am Nov 22, 2021 6:58am
Quoting Mtinifx
{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 $5050

My calculation was 5% and then 1k but yes, you are correct. IT grows if you are up 1k only to 5050. I'm on the spectrum pretty hard lately due to treatment meds and think in 5 sentences at the same time and often confuse myself.
  • #5,698
  • Nov 22, 2021 7:17am Nov 22, 2021 7:17am
Quoting Cryptosurf
{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)_/¯
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 MFF could answer. that s all.
  • #5,699
  • Nov 22, 2021 7:22am Nov 22, 2021 7:22am
Quoting 1odi
{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...
No that wasn't specifically hinted at you, just coming from years of experience at this game.
Trade with confidence, trade without fear.
  • #5,700
  • Nov 22, 2021 7:36am Nov 22, 2021 7:36am
Quoting FXTrader.FF
{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.
If you have this on 00.00 broker time. So, you have all the time to have a good money management. At MFF an FTMO is the same.
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