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  • #8,621
  • Jun 20, 2022 9:21am Jun 20, 2022 9:21am
Quoting franz
Navk , you are just a poor failed trader. You keep burning accounts: I bet you will lose this new account too within a few days. You keep complaining to Prop Firms , you don't accept the rules , you are undisciplined, you are a poor amateur. You've written over 13,000 posts : what's going on with you ? Verbal diarrhea ? But by now no FF serious member believes your words . If you don't accept the rules, don't use Prop Firms.
-Posts like this should not be allowed here.

Quoting pipmaster77
Stop loss IS NOT A RULE. They give you the flexibility to use one or not use one as you wish. If they REQUIRED a stop loss, it would be a rule. MAX DAILY LOSS is a cut and dry rule, stop loss is up to you. Here is the deal......MFF does not require a stop loss UNLESS you are an all-in type of trader, .....DON'T BE ALL IN!!!!!!!!! Folks that are never all-in also don't ever seem to be posting about being scammed. I see 100% correlation with this.
-You do not have to be all-in in order to violate draw-down. I do not trade this way, but I know that it is possible. But maybe the problem is that this term all-in could be a little bit ambiguous:

2) You must not be “all-in” on your trades and violate from a single trade or single batch of trades

Any trader that violates draw-down, even eventually by using good trading practices, will always be violating with a single trade or a single batch of trades. So the question then becomes, what does 'all-in' actually mean for MFF? Does it mean using absolute maximum leverage to the point that no other positions can be opened, or, does it simply mean trading large lot sizes? If it's the latter, then there is a wide range of possibilities that could apply.

That being said, I certainly understand both sides. And while I agree, that it is their money, so their rules, I also think that we, as traders, should always advocate for better. If MFF can find alternative ways to ensure that their traders respect their capital without needing to withhold half of trader profits, then we should be willing to support that idea.
  • #8,622
  • Jun 20, 2022 9:26am Jun 20, 2022 9:26am
[quote=Nsak3y;14038637]{quote}-Posts like this should not be allowed here. {quote}-

I am sure MM will put a suitable warning to this.

Time and again, MM has posted here to refrain from commenting on individuals.

Alas, this continues...
Intraday only.
  • #8,623
  • Jun 20, 2022 9:30am Jun 20, 2022 9:30am
Quoting Capablanca
If someone is interested in the payout rule of Funded Next after violation: (I have no experience with them, just saw this in Discord){image}
I dont understand whats the point in giving 50% with those rules. I am sure if you follow such rule you can't break daily DD.
It is just lip service for not giving profits and looking good.
  • #8,624
  • Edited 9:50am Jun 20, 2022 9:34am | Edited 9:50am
Quoting Nsak3y
{quote}-Posts like this should not be allowed here. {quote}-You do not have to be all-in in order to violate draw-down. I do not trade this way, but I know that it is possible. But maybe the problem is that this term all-in could be a little bit ambiguous: 2) You must not be “all-in” on your trades and violate from a single trade or single batch of trades Any trader that violates draw-down, even eventually by using good trading practices, will always be violating with a single trade or a single batch of trades. So the question then becomes, what...
MFF contradict themselves at places.

They allow 40 lots to be traded for a position. And this " All in " rule.

In my case, I had detailed discussion with yavuz, he understands the issue. But he says, this is rule to have stop loss for all trades.

If this is rule, then it must be applicable for 75,80,85 % payout too. They should not pay at all or should stop payouts for trades which had no stop loss.

I said, it is like refusing pay cheque for 10 days salary in a month after contract termination. And not justified.

He has no direct answer to this but according to him, this is rule to have stop loss for all trades in funded account to be eligible for 50 % payout.

I only said, I will come back stronger at them in future.

ha..ha..
Intraday only.
  • #8,625
  • Jun 20, 2022 9:49am Jun 20, 2022 9:49am
Quoting navk
{quote} MFF contradict themselves at places. They allow 40 lots to be traded for a position. And this " All in " rule. In my case, I had detailed discussion with yavuz, he understands this. But he says, this is rule to have stop loss for all trades. Also, if this is rule, then it must be applicable for 75,80,85 % payout too. They should not pay at all or should stop payouts for trades which had no stop loss. I said, it is like refusing pay cheque for 10 days salary in a month after contract termination. And not justified. He has no direct answer...
But stop loss IS NOT A RULE with MFF. Some firms require it. MFF allows you the freedom to use or not. Once again, not trying to take sides here, but violating daily DD IS A RULE, having stop loss is NOT A RULE. In all reality, if you break daily DD, they shouldn't have to pay you anything. They are actually doing you a favor by saying, "Even though you violated, you were responsible enough to have stop loss, here is 50% for your trouble."
I have lost challenges, blown funded accounts. I have a completely separate account for prop firms and as long as the balance grows, I do not mind blowing up because payouts more than cover it. However, every failed challenge and blown account I've had is from NOT HAVING PROPER RISK MANAGEMENT and/or REVENGE TRADING. Now I have reopened a small personal account so when I hit MY DAILY LIMIT, I can shut down the prop platform. I believe everyone should set their own DAILY DD limit and keep it at half or less of the prop firm rule. You will never have an issue.
  • #8,626
  • Jun 20, 2022 9:54am Jun 20, 2022 9:54am
Quoting Nsak3y
{quote}-Posts like this should not be allowed here. {quote}-You do not have to be all-in in order to violate draw-down. I do not trade this way, but I know that it is possible. But maybe the problem is that this term all-in could be a little bit ambiguous: 2) You must not be “all-in” on your trades and violate from a single trade or single batch of trades Any trader that violates draw-down, even eventually by using good trading practices, will always be violating with a single trade or a single batch of trades. So the question then becomes, what...

No one will support that idea because most likely no one will want to obey those rules.

In futures prop, they give you a size limit and a loss limit per session. You have to be having an awful day to hit that loss limit with the size limit, but its possible and you see heaps of guys do it because they cant control themselves.

In FX Prop, if you put a rule that says "you cant be a millionaire overnight" no one will join that firm. Its a catch 22 of naive traders overdoing it and a firm having to have a rule for it. If they put a clarification of the "All-in" rule i suspect it would be something like "You cannot be using 90% of your available margin at the time of the last trade being opened". But then again, a lot of the people who do hit the daily would likely complain.

I still don't understand why someone wouldn't stop themselves out before hitting the daily, to me it shows poor discipline and disrespect. They should just not pay anyone the 50% IMO even with a stop loss, because the stop loss could be 5000 pips away and the user would still get paid, as is the case of the guy who got 54k from a 50% payout in discord. But at least he had the brain to understand the rules, abide by them even if it hurt his feelings.
  • #8,627
  • Jun 20, 2022 10:07am Jun 20, 2022 10:07am
In my case, There were totally 5 open trades with stop loss set.

The Daily dd exceeded by just 10 to 12 dollars
May be my calculation error to set stop loss or MFF took it.
Intraday only.
  • #8,628
  • Jun 20, 2022 10:12am Jun 20, 2022 10:12am
Quoting navk
In my case the daily DD was exceeded by just 10 to 12 dollars. May be my calculation error to set stop loss or MFF took it.
Yeh must be the brokers fault.. /s
  • #8,629
  • Jun 20, 2022 10:16am Jun 20, 2022 10:16am
Quoting pipmaster77
{quote} But stop loss IS NOT A RULE with MFF. Some firms require it. MFF allows you the freedom to use or not. Once again, not trying to take sides here, but violating daily DD IS A RULE, having stop loss is NOT A RULE. In all reality, if you break daily DD, they shouldn't have to pay you anything. They are actually doing you a favor by saying, "Even though you violated, you were responsible enough to have stop loss, here is 50% for your trouble." I have lost challenges, blown funded accounts. I have a completely separate account for prop firms...
I agree this is how one needs to trade funded account.

Challenges...may be in a different way.

I have grown my equity many times from deep down.( for challenges )
Intraday only.
  • #8,630
  • Jun 20, 2022 10:34am Jun 20, 2022 10:34am
My observation with MyFF is they dont like scalpers, they dont like traders with high lot size. They add slippages (I have never observed positive slippage with lot size greater than 3. I have seen 7-10 pip slippage in EUR/USD). Execution is always issue with MyFF
But they pay and reliable and highest allowed drawdown and cheapest.
Stop trading after achieving some percentages (like 5 or above) till payout.
  • #8,631
  • Jun 20, 2022 10:35am Jun 20, 2022 10:35am
Quoting navk
{quote} I agree this is how one needs to trade funded account. Challenges...may be in a different way. I have grown my equity many times from deep down.( for challenges )
Yes, risk must be adjusted higher to get through phase 1. I also believe nothing wrong with trying to get it done in a short time if one doesn't mind paying over and over. It is all dependent on the confidence in your ability once funded. I mean if you pay $3,000 in challenge fees but earn 10K let's say over your 1st 2 months.....it is just the cost of doing business. I still believe, since there are now 4-5 firms I'm pretty confident in, one could obtain 2 million in funding and earn $500K + annually without every exceeding 1% loss daily.
  • #8,632
  • Jun 20, 2022 11:01am Jun 20, 2022 11:01am
Quoting navk
In my case, There were totally 5 open trades with stop loss set. The Daily dd exceeded by just 10 to 12 dollars May be my calculation error to set stop loss or MFF took it.
Bad calculations or maybe slippage.
  • #8,633
  • Jun 20, 2022 12:10pm Jun 20, 2022 12:10pm
Well I checked TFT website and there is nothing new.

I think they are a waste of time.
  • #8,634
  • Jun 20, 2022 1:38pm Jun 20, 2022 1:38pm
Quoting Takisd
No one will support that idea because most likely no one will want to obey those rules.
-Not sure which rules you are referring to, but I suppose that it does not really matter. It is not important that we all agree on this point. I am a responsible trader and I accept the terms as they are. I just think that their 50% policy is not good, in principle, especially since they basically have a welcoming mat laid out for bad traders. They are not the only firm that is guilty of this, though.
  • #8,635
  • Jun 20, 2022 3:40pm Jun 20, 2022 3:40pm
Quoting Takisd
{quote} I don't think I have ever seen a dumber post in this thread.
Totally dumb post.

This guy/gal has no life.

Masterrmind ............
Master your Mind then Master your Trades
  • #8,636
  • Jun 20, 2022 4:50pm Jun 20, 2022 4:50pm
Quoting pipmaster77
{quote} Yes, risk must be adjusted higher to get through phase 1. I also believe nothing wrong with trying to get it done in a short time if one doesn't mind paying over and over. It is all dependent on the confidence in your ability once funded. I mean if you pay $3,000 in challenge fees but earn 10K let's say over your 1st 2 months.....it is just the cost of doing business. I still believe, since there are now 4-5 firms I'm pretty confident in, one could obtain 2 million in funding and earn $500K + annually without every exceeding 1% loss daily....
That's a good way to look at the cost of the challenge fees. One way to approach it is to go all-in on a number of smaller challenges instead of one that's large if your strategy is infrequent and has positive RR (1:2 with let's say 50% win rate). Instead of doing one 100k challenge do ten at 10k but risk 4% per trade. You won't pass all ten but 6-7 are doable and that's better than failing one big challenge after a few weeks. For some people this kind of approach may be easier to handle psychologically given the pressure to meet the deadline.
  • #8,637
  • Jun 20, 2022 8:54pm Jun 20, 2022 8:54pm
Quoting Capablanca
If someone is interested in the payout rule of Funded Next after violation: (I have no experience with them, just saw this in Discord){image}
Thanks for posting this, Capablanca.

I don't go to Discord at all. No offense to those who do but I just find it not salutary for my mindset.

I have a FundedNext live account that's in drawdown but with no rules violated so far. My aim really is to just end positive so I could finally get my payout (including refund of fee and 15% profit-split from Evaluation).

Unless I see trading conditions improve, I'm out the door faster than one can say 8Cap!
Amor Fati--F. Nietzsche
  • #8,638
  • Jun 21, 2022 1:49am Jun 21, 2022 1:49am
Quoting doji
{quote} Thanks for posting this, Capablanca. I don't go to Discord at all. No offense to those who do but I just find it not salutary for my mindset. I have a FundedNext live account that's in drawdown but with no rules violated so far. My aim really is to just end positive so I could finally get my payout (including refund of fee and 15% profit-split from Evaluation). Unless I see trading conditions improve, I'm out the door faster than one can say 8Cap!
Why don't you like them Doji ?

I use to go to Discord once in a while but just to the announcements sections to scan if there's anything new regarding the props.
  • #8,639
  • Jun 21, 2022 4:52am Jun 21, 2022 4:52am
I think I will try a small account with the Blue Guardian Capital. The target is 6% which I think is good

I will post my experience with this company
  • #8,640
  • Jun 21, 2022 5:00am Jun 21, 2022 5:00am
Quoting Bizziebee
I think I will try a small account with the Blue Guardian Capital. The target is 6% which I think is good I will post my experience with this company
Thanks for keeping us posted.
An alert for the case you haven't seen it. You need to achieve 4% before the first withdraw. After the first one there's no minimum.

Quote
A trader is eligible for a payout 14 days from their first trade on the funded account and then again becomes eligible 14 days after every withdrawal. Traders must also have generated a minimum of 4% profit before requesting a withdrawal.
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