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  • #15,381
  • Apr 28, 2023 6:15am Apr 28, 2023 6:15am
Quoting OutThere
They are regulated by: ASIC, CySEC, FSA, FSA-S, FSCA, FCA. That goes to show you what a bunch of useless regulators they are.
-I thought that when it comes to trading, the words 'regulator' and 'useless' were synonymous?

I guess that's not really true, though. Regulators do a great job at imposing their own will... creating heavy, financial burdens, restricting traders, overstepping jurisdictional boundaries, protecting us from our own free will et al..
  • #15,382
  • Apr 28, 2023 6:55am Apr 28, 2023 6:55am
Quoting Nsak3y
{quote}-I thought that when it comes to trading, the words 'regulator' and 'useless' were synonymous? I guess that's not really true, though. Regulators do a great job at imposing their own will... creating heavy, financial burdens, restricting traders, overstepping jurisdictional boundaries, protecting us from our own free will et al..
Yes, providing employment to more bureaucrats that the taxpayer has to pay for. Wonderful world we live in isn't it?
  • #15,383
  • Apr 28, 2023 11:52am Apr 28, 2023 11:52am
Quoting acetrader
{quote} It is coming down to E8 or the 5%er's for me. What's you view on MFF? Thank you for sharing.
I tried MFF and felt jipped big time. Lost my challenge over multiple excessive slippage events.
Maybe the new broker will help because it seemed rigged to me.
$1K toilet flush!
  • #15,384
  • Apr 28, 2023 12:10pm Apr 28, 2023 12:10pm
Quoting josh1111
{quote} I tried MFF and felt jipped big time. Lost my challenge over multiple excessive slippage events. Maybe the new broker will help because it seemed rigged to me. $1K toilet flush!
Yup, I had the same, on two accounts across many trades. The slippage was 4-5x larger than spreads, and never in my favor. Other accounts at the same time, even on Eightcap, did not have the same losses. I haven't tried MFF again in over a year. I hope they improve with a new liquidity provider.

I should add, I was doing indices at the time, and I mostly stick to just the 28 major forex pairs now. I don't do metals, crypto, or indices on prop firms anymore. Respect to those that can do it well, but I learned my lesson. LOL!
  • #15,385
  • Apr 28, 2023 12:24pm Apr 28, 2023 12:24pm
Quoting AaronPriest
{quote} Yup, I had the same, on two accounts across many trades. The slippage was 4-5x larger than spreads, and never in my favor. Other accounts at the same time, even on Eightcap, did not have the same losses. I haven't tried MFF again in over a year. I hope they improve with a new liquidity provider. I should add, I was doing indices at the time, and I mostly stick to just the 28 major forex pairs now. I don't do metals, crypto, or indices on prop firms anymore. Respect to those that can do it well, but I learned my lesson. LOL!
The last two posts seem to be confusing MFF and MFFX. There is no new broker with MFF, they have their own liquidity. If you're getting slipped excessively, you're trading too large and/or at news releases.
As Taki has explained NUMEROUS TIMES, the slippage you would experience executing the same trades (size and time) at an actual broker would be enormously larger than you are getting at the props. The props with perfect execution are not real market conditions and they all go out of business eventually.
  • #15,386
  • Apr 28, 2023 12:47pm Apr 28, 2023 12:47pm
Quoting josh1111
{quote} I tried MFF and felt jipped big time. Lost my challenge over multiple excessive slippage events. Maybe the new broker will help because it seemed rigged to me. $1K toilet flush!
Let me guess, they were news events weren’t they?

And looking at your participation in the M1 counter trend thread, long term success isn’t in your future.
Trade with confidence, trade without fear.
  • #15,387
  • Apr 28, 2023 12:50pm Apr 28, 2023 12:50pm
Quoting pipmaster77
{quote} The last two posts seem to be confusing MFF and MFFX. There is no new broker with MFF, they have their own liquidity. If you're getting slipped excessively, you're trading too large and/or at news releases. As Taki has explained NUMEROUS TIMES, the slippage you would experience executing the same trades (size and time) at an actual broker would be enormously larger than you are getting at the props. The props with perfect execution are not real market conditions and they all go out of business eventually.
It’s a painful experience newbies have to go thru. Eventually they’ll either get smart or wash out.
Trade with confidence, trade without fear.
  • #15,388
  • Apr 28, 2023 12:50pm Apr 28, 2023 12:50pm
Quoting pipmaster77
{quote} The last two posts seem to be confusing MFF and MFFX. There is no new broker with MFF, they have their own liquidity. If you're getting slipped excessively, you're trading too large and/or at news releases. As Taki has explained NUMEROUS TIMES, the slippage you would experience executing the same trades (size and time) at an actual broker would be enormously larger than you are getting at the props. The props with perfect execution are not real market conditions and they all go out of business eventually.
Sorry to clarify:
myfundedfx
  • #15,389
  • Apr 28, 2023 1:13pm Apr 28, 2023 1:13pm
Quoting pipmaster77
{quote} The last two posts seem to be confusing MFF and MFFX. There is no new broker with MFF, they have their own liquidity. If you're getting slipped excessively, you're trading too large and/or at news releases. As Taki has explained NUMEROUS TIMES, the slippage you would experience executing the same trades (size and time) at an actual broker would be enormously larger than you are getting at the props. The props with perfect execution are not real market conditions and they all go out of business eventually.
I was referring to MyForexFunds, and it was massive slippage on indices during weekends and rollover that would get me, didn't matter how small a lot size, it would slip way past SL and close 4-5x further away. Swing trading over weekends just didn't work there. There was a lot of grumbling and complaints in their Discord or Telegram group (I can't recall now) about it at the time, and I dismissed most of them as just newbies doing stupid high risk or too close a stop loss like scalping, but then it got me too one weekend on two different occasions and I was stunned how bad it was. I think they've changed liquidity providers since then though as this was a year or more ago and I've heard it's improved. I'll try them again someday.
  • #15,390
  • Apr 28, 2023 1:29pm Apr 28, 2023 1:29pm
Quoting AaronPriest
{quote} I was referring to MyForexFunds, and it was massive slippage on indices during weekends and rollover that would get me,
JFC
Trade with confidence, trade without fear.
  • #15,391
  • Apr 28, 2023 1:37pm Apr 28, 2023 1:37pm
Quoting Cryptosurf
JFC
-Don't you mean KFC? Mmmm chiiiiicken.
  • #15,392
  • Apr 28, 2023 2:56pm Apr 28, 2023 2:56pm
Quoting Cryptosurf
{quote} JFC
You've never held a trade overnight or over weekends? It was really bad back then with MFF, at least with indices at the time.
  • #15,393
  • Apr 28, 2023 3:09pm Apr 28, 2023 3:09pm
Quoting AaronPriest
{quote} You've never held a trade overnight or over weekends? It was really bad back then with MFF, at least with indices at the time.
Never intentionally, for the obvious reason.

I know you’re new to trading, but there’s things that happen outside of your control. If you decide to roll the dice then you should accept the results, regardless of the outcome.

You should start thinking of trading strategies (that have parameters) that are within your control.
Trade with confidence, trade without fear.
  • #15,394
  • Apr 28, 2023 3:33pm Apr 28, 2023 3:33pm
Quoting AaronPriest
{quote} I was referring to MyForexFunds, and it was massive slippage on indices during weekends and rollover that would get me, didn't matter how small a lot size, it would slip way past SL and close 4-5x further away. Swing trading over weekends just didn't work there. There was a lot of grumbling and complaints in their Discord or Telegram group (I can't recall now) about it at the time, and I dismissed most of them as just newbies doing stupid high risk or too close a stop loss like scalping, but then it got me too one weekend on two different...
So you are talking about market gap during the hour indices are closed and obviously on the weekend. That is the danger of holding while market is closed, when it opens price may have gapped........THIS IS NOT SLIPPAGE!
No offense intended here, but you HAVE A LOT TO LEARN before you should even be trading any significant $$$, let alone a prop account.
  • #15,395
  • Apr 28, 2023 3:46pm Apr 28, 2023 3:46pm
Quoting AaronPriest
{quote} I was referring to MyForexFunds, and it was massive slippage on indices during weekends and rollover that would get me, didn't matter how small a lot size, it would slip way past SL and close 4-5x further away. Swing trading over weekends just didn't work there. There was a lot of grumbling and complaints in their Discord or Telegram group (I can't recall now) about it at the time, and I dismissed most of them as just newbies doing stupid high risk or too close a stop loss like scalping, but then it got me too one weekend on two different...
every broker has large spread starts 1 hour before close holding depends for me if its a positive spread seem your whingining over nothing if you dont like it dont trade it
people leave, but this thread will go on for ever
  • #15,396
  • Apr 28, 2023 3:50pm Apr 28, 2023 3:50pm
Quoting Cryptosurf
{quote} Never intentionally, for the obvious reason. I know you’re new to trading, but there’s things that happen outside of your control. If you decide to roll the dice then you should accept the results, regardless of the outcome. You should start thinking of trading strategies (that have parameters) that are within your control.
I'm not new to trading at all, been doing it for many years. Just a new member of this forum, that's all.
  • #15,397
  • Apr 28, 2023 4:00pm Apr 28, 2023 4:00pm
Quoting pipmaster77
{quote} So you are talking about market gap during the hour indices are closed and obviously on the weekend. That is the danger of holding while market is closed, when it opens price may have gapped........THIS IS NOT SLIPPAGE! No offense intended here, but you HAVE A LOT TO LEARN before you should even be trading any significant $$$, let alone a prop account.
Sure, but the same trades on FTMO and ICMarkets (when I could have an account there) for example did not have candles like MFF had on one weekend, and then another the next month or so. It wasn't even a gap, it was a huge candle spike about 2-3hrs after market opened on Monday, and on both SPX500 and US30. Maybe it was a server glitch, I don't know, but there were a lot of people having trouble like that and so I moved on. A 1% risk trade would be fine for a few hours after rollover or on Monday morning / Sunday night and then randomly hit 5% daily breach in two seconds and then be back to normal when other brokers did not experience this. I don't trade indices anymore anyway on prop firms these days, and I don't have those logs anymore from 14-16 months ago or whenever that was to show what I mean. Sorry I brought it up, it's water under the bridge as far as I'm concerned. I just thought maybe it was related to what josh1111 had asked, since he had mentioned MFF (and turns out he meant MFFX).
  • #15,398
  • Apr 29, 2023 4:31am Apr 29, 2023 4:31am
Quoting AaronPriest
{quote} Sure, but the same trades on FTMO and ICMarkets (when I could have an account there) for example did not have candles like MFF had on one weekend, and then another the next month or so. It wasn't even a gap, it was a huge candle spike about 2-3hrs after market opened on Monday, and on both SPX500 and US30. Maybe it was a server glitch, I don't know, but there were a lot of people having trouble like that and so I moved on. A 1% risk trade would be fine for a few hours after rollover or on Monday morning / Sunday night and then randomly hit...
It sounds similar to what E8 traders experienced recently as well. E8 explained it as their bridge issue and compensated all impacted traders.
Money is made by sitting, not trading
  • #15,399
  • Apr 29, 2023 5:13am Apr 29, 2023 5:13am
Quoting AaronPriest
{quote} I was referring to MyForexFunds, and it was massive slippage on indices during weekends and rollover that would get me, didn't matter how small a lot size, it would slip way past SL and close 4-5x further away. Swing trading over weekends just didn't work there. There was a lot of grumbling and complaints in their Discord or Telegram group (I can't recall now) about it at the time, and I dismissed most of them as just newbies doing stupid high risk or too close a stop loss like scalping, but then it got me too one weekend on two different...
Was that in an exotic pair or something liquid ? Honestly if you're talking about EURUSD, for example, where they usuaslly have like 4 o 5 pips spread, doesn't seem strange that after market reopens on Sunday that executions is 4 or 5x more, like 25 pips slippage.
  • #15,400
  • Apr 29, 2023 8:27am Apr 29, 2023 8:27am
Quoting AaronPriest
{quote} I'm not new to trading at all, been doing it for many years. Just a new member of this forum, that's all.
No offense but, only relative newcomers to trading belly ache about spreads at rollover, weekends, etc.
Trade with confidence, trade without fear.
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