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

Good morning,

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


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I'll probably try my second 200k Evaluation by using the -10% discount this week. I've tested my EA GLOBAL SL/TP these last days for the days without so much flow and in the other hand, i think there will be a nice directionnal movement on currencies next friday, with the Jerome Powell's speech, after the Jackson Hole Symposium.
 
I tried to make the purchase today, but i couldn't. As always, european banks make problems when we want to make this kind of purchase with the credit card. They blocked it because they think it's a fraud. MFF should have more and better paiment mode than they already have. During my first purchase, it took me 2 days, and i should have screaming on my bank.
 
Back from holidays ! Here we go again :


881 us dollars.png


I'm now at -979$ - 881$ = -1860$ with MFF. Let's see if i can recover this money...
 

kevinkdog

Junior member
I wish you all the luck in the world with this. Maybe I missed it, but when is your "entrance fee quitting point?" In other words, you've spent $1860 so far, how much more do you have allocated to spend on entering?

I see a lot of these "pay to possibly trade big account" companies, and I am just wondering.

Good Luck!!!
 
I wish you all the luck in the world with this. Maybe I missed it, but when is your "entrance fee quitting point?" In other words, you've spent $1860 so far, how much more do you have allocated to spend on entering?

I see a lot of these "pay to possibly trade big account" companies, and I am just wondering.

Good Luck!!!
Thank you for your support @kevinkdog ! ;)

I don't really know. I think, it's like if i had 10 000$ to invest in a trading account in a broker but, for me, it's better to try to earn money by being a funded trader than to simply have a 10k trading account and try to make percentage from this very small account.
 

kevinkdog

Junior member
Thank you for your support @kevinkdog ! ;)

I don't really know. I think, it's like if i had 10 000$ to invest in a trading account in a broker but, for me, it's better to try to earn money by being a funded trader than to simply have a 10k trading account and try to make percentage from this very small account.
I'll be following, hope it goes well. When I started trading, this sort of thing was not even an option, so I had to scrape together $5K each time (I blew out a few times)...

Easier to start small these days, but I see the allure of trading a big account.
 
Special announcement on the MFF Discord :

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It seems that some traders use the latency between the real market and the demo market to take advantage. Is this really possible to take an edge from that kind of things?
 

kevinkdog

Junior member
I'm sure this is possible, absolutely. Another "demo funding" outfit prevents trades lasting less than 20 seconds, and latency arb might be part of the reason.

People have been gaming demo engines and simulators for years, and this is just one reason why.

I always say, "I know lots of sim trading millionaires, but I only know a few real money trading millionaires."

Note that this is also an "out" for some of these demo firms to not pay out. I have heard of quite a few cases where the firm claimed some sort of rule violation, and closed the account of an otherwise profitable contestant.
 

kevinkdog

Junior member
The problem is you still need an edge with your strategy.

A random 1:3 risk to reward strategy would win about 25% of the time (we will forget about trading costs in this example).

So, your chances of getting 2 wins in a row are actually around .25*.25 = 6.25%.

Let's say instead you have 30% chance of winning (you have an edge):
70% of time you lose 1, 30% of time you win 3. Long run expectancy is 0.2, which actually is not bad. If you make 1 trade a week like this, and either lose $1000 or gain $3000. In a year, you'll gain $200*52 = $10,400, which is really pretty good. (My point is even 30% wins with a 1:3 risk to reward is very good).

But even with a 30% chance of winning, you still only have .3*.3 = 9% chance of hitting 2 winners in a row.

This video makes it sounds like "just win 2 times in a row" is easy, when it fact it is not.
 
I've been in this field for about 4 years. If you`re beginner, trade a minimum lot (0.01) for every $100 of deposit. This`ll keep you from losing money and teach you basics of money management. Many people already know what it`s all about, but to be successful in trading you need a lot of knowledge in this business. I've been into it for about 4 years now. To begin with, I advise you to create a demo account, get into the work, see what's what and just to get to grips with the program. Remember, you have to be smart and not greedy or you'll get nervous. Also I got all info on how to start and advance from learn Forex trading. Profits depend on strategy, starting balance and of course experience. The more aggressive strategy, the greater risk, and therefore the profit.
 
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