My Forex Funds - Evaluation Standard - ($200,000 account)

[The Erect Trader]

 

[The Erect Trader]

 

[The Erect Trader]

Hello,

i just paid $979 to pass the Evaluation Standard at My Forex Funds. The highest one ($200 000).

 

[The Erect Trader]

From monday, i will publish my results here because i've read some FTMO traders who are in troubles to pass these kind of Challenges. I would say that's probably because they are in demo mode. When we are risking real money things are different. So, i'm now risking real money. Let's see if i can pass it,

Phase 1 : +8% target
Phase 2 : +5% target

Daily limit : -5%
Drawdown Limit : -12%

See you on monday, have a nice week-end

 

[The Erect Trader]

The 200k account credentials just arrived. So, it was less than 24h, actually :

Anyway, i will start to trade on monday.

 

[The Erect Trader]

Just subscribed to their "Discord". Not so bad, actually :

 

[The Erect Trader]

Good morning,

When i purchased the 200k Evaluation Standard, i also used the code "VVSC", like this guy says in his video, in order to have a better refund :

Let's see if it works!

 

[The Erect Trader]

Good morning traders,

Today, i will start trading on the MFF $200 000 account. It's the first time i trade on a 200k Prop Firm trading account, i'm a little bit anxious. I've been to toilet several time already. I hope my strategy will work despite this stress.

Have a good day.

 

[The Erect Trader]

Very bad first day : -4.8%
No violations, so it's ok fot trading tomorrow.
I will risk less than my initial 32 lots per trade from tomorrow. Probably 16 or 24 lots.
So, i will daily risk only -3%

Too much stress. I failed to stick to my trading plan, in the afternoon. I am disgusted.

 

[The Erect Trader]

Good morning,

today, i don't feel stress anymore. I fell simply a bit stupid. I'll do my best to slowly recover this horrible first day, until the end of this week.

Have a good day.

 

[The Erect Trader]

As i felt stupid this morning, i traded like a stupid. I violated the rules by mistake. I thought i could burn 10 000$ but i could lost only 9500$ because of the lost of yesterday. As i lost 9700$, i exceeded the daily loss limit :

I asked explanation and they answered this to me :

I lost this evaluation in only 2 day of trading. Too much stress and really stupid behaviour about stick my plan.

I will see if i try another one soon...

 

[IlIlIlIlI]

The rules of prop firm are full of traps everywhere.
This percentage related rule is one of them at MFF, FTMO has fix amounts, but delayed updates (every 10 minutes) on the track record.

 

[The Erect Trader]

Good morning,

there is -10% discount at My Forex Funds. I'm thinking about it :

 

[The Erect Trader]

I just found out that I have also access to the leaderboards

Just learned there's also a leaderboard at MFF :

but i didn't find the link to have an access on the website.

 

[Inquisitor]

What is your strategy for making a profit as it seems that you don't really have one? Even if you do and are unable to keep the discipline needed to carry it out the inevitable result is account wipeout.

 

[The Erect Trader]

You are right, normally i follow the flow, but i had the bad idea to start this Evaluation on one of the most died week of the year. Problably, the third most died week on currencies, after the 2 weeks of the end of the year/Christmas. Anyway, what is sure, is that if the flow would had come, i would make the +8% in 3 days, more or less. So, inevitably, i lost in 3 days I'm now waiting the flow back and i will try again.

 

[The Erect Trader]

Top 5 Prop Trading Firms :

I'd say, i agree with that Ranking

 

[The Erect Trader]

to have multiple longs and shorts open via an EA at different times, and I then manually nett off the trades to harvest profits.

I'll do the opposite in the next try. I'll enter manually by using my flow method but an EA will close the trades. A coder made this EA for me (it cost me 500€ !). This EA manages all the SLs and all the TPs globally.

I just have to set the percentage i want to lose and win, then, each time i open a trade, the EA adjusts all the SL/TP instantly.

 

[The Erect Trader]

That one seems to offer a $500 000 account directly (Funded Trading Plus) :

 

[The Erect Trader]

FTMO "the well established" Vs. MFF "the challenger" :