MY FOREX FUNDS DAILY DRAWDOWN RULE VS FTMO DAILY DRAWDOWN RULE - 2022 - EXPLAINED
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- Опубликовано: 20 июл 2022
- Explaining FTMO Daily drawdown rule vs My Forex Funds daily drawdown rule in depth, so you don't get caught out on the subtle differences. Prop firms other than FTMO and My Forex Funds often follow similar daily drawdown rule criteria but it's important to read each individual prop firm's daily drawdown rules. This video will cover the difference between the My forex funds daily drawdown rule & FTMO daily drawdown rule. List any questions you have surrounding my forex funds daily drawdown rule OR FTMO daily drawdown rule below in the comments!
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PERSONAL BROKER CHOICE - fwd.cx/Iqsw5slZdkvX
Account chosen - Standard STP
Myforexfunds link - myforexfunds.com/?wpam_id=14896
Use Code 'Matt5' for 5% off your evaluation purchase!
Find me:
** Business Enquiries - matt@matttomillion.co.uk
** Instagram - / matttomillion
** Mentorship - www.matttomillion.co.uk
00:38 - 00:55 - Balance vs Equity
00:55 - 01:16 - Key point 1
01:17 - 01:24 - MFF daily drawdown
01:24 - 01:47 - MFF reset time
01:47 - 02:10 - Be aware of the definition!
02:18 - 02:29 - MFF daily drawdown in more depth
02:29 - 03:13 - MFF daily drawdown example 1
03:13 - 03:45 - MFF daily drawdown example 2
03:45 - 05:40 - MFF daily drawdown example 3
05:40 - 07:00 - MFF MUST WATCH daily drawdown example 4
07:34 - 07:57 - FTMO reset time
07:57 - 08:37 - FTMO daily drawdown rule
08:37 - 09:15 - FTMO daily drawdown rule example 1
09:15 - 09:46 - FTMO daily drawdown example 2
10:00 - 10:42 - EAs MUCH WATCH FTMO & My Forex Funds
10:42 - 11:00 - Other quick point
11:00 - 11:48 - MFF vs FTMO which is best? 
Развлечения
Best advice, is if every down 3% in a day, STOP, take a break for a day and start again. Never risk pushing it to the limit of max allowance, as will always hit it
Absolutely, especially with some of the gapping that can happen depending on the instrument! 💯
I m not able to place new order after a daily drawdrowm
how can you be 3% down in aday?? that's overtrading
@@54Trades Depends, one could place a take profit, miss it by couple of pips and see price reverse against them. Just for it to come back later and hit it again.
Yeah but what if we place trade today and trade in profit upto 6 percent and we hold that trade for tomorrow and tomorrow we go down by 5 percent and still we are in 1 % profit but what will happen if we go down by 5 % 😢
This is the most thorough explanation I've heard on this. Thanks for doing all the hard work for us
Thank you - glad you got what you needed from it 👊🏻🙏🏻
I’m really happy I landed on your video! Thanks!
Glad you got something from it Lexa!
Me too.
Quick and thorough and still amazingly helpful today, had to find a video to best explain to someone.
You are a godsend, i'm about to start doing funded account trials so that i become more and more consistent and the draw downs confused the hell out of me! Thank you for clearing this up, brilliant clear and concise video!
Glad you got value man 👊🏻
How did it go?
^
Well explained, thank you for the clarity
Well said Mate! Thank you!
👊🏻👊🏻🙏
you are great mate. this will help hundreds to choose the firm with one's strategy
Thanks man - appreciate this 👊🏻🙏🏻
Well explained!
MFF has the worst daily drawdown rule. Makes swing traders run for the hills!
Yeah certainly not made for swing traders!
@@MatttoMillion what prop firm is best for swing traders?
@@donpsy7362Fundednext
@@amoahprosper4737 I've gone through their page and it's just like MFF, can you help me point our their advantage over MFF. There's probably something I'm not seeing..
@@donpsy7362 their daily drawdown is based on balance and not equity.
Finally. Someone who explained it right. Thank you sir.
Actually I needed this!
Glad it was of use man 👊🏻👊🏻
great understandable video, much appreciated cheers!
Thanks Paul - glad it helped 👊🏻👊🏻
Thank you for the insight
Thanks James - glad you found some value
Explained very well
Glad you got something from it 👊🏻
Thank you for this video
Glad you got something from it David 👊🏻
Sir, Trading with supply & demand method on 4 H charts, is it better that the area have additional confirmation with MTF fractals. Even if S/D area gets respected OR rejected, market can still whip saw in the area & trader can still lose. Do you recommend sticking with 4H,/Daily chart S/D levels for trend direction OR is that not necessary. Market makers in forex also play their liquidity harvesting to pick pockets around these levels. We need your wisdom. And Thank you.
Nice work
Thank you 👊🏻
video starts at 2:15 good explanation btw
Thank you 🙏
thanks for explaining this in a vry understandable way,,, ftmo would work out well with me ftmo rules can help us that manage to make good big profit en then lose alitu on some other days not having to worry alot coz the profits are way higher than the initial balance. ftmo is my next move it fits me vry well with my emotions en discipline
Glad you got value from it 👊🏻 and absolutely - either of them can be good but one tends to always work best for certain people 👌🏻
I'd say everything in life has it's own pros and cons, you just have to find a way to deal with them, I'd go to mff because of the affordable accounts and freedom you get, plus the amount of discipline I will earn overtime, when it comes to risk management.
yep for sure! If you're using it as an exercise/cost to improve your discipline then I'd agree with you. Of course the upfront cost becomes less of a factor on future accounts as you'll always get that fee back. But the difference in fees can cause more of a reaction and psychological burden to people - especially those paying with credit etc.
Excellent video
Thank you 👊🏻👊🏻
Best information
Glad it was useful 🙏🏻
Bro nice watch. :)
Thanks man 👊🏻
Thank you
What I did is starting with my daily draw down level as my capital .. my dd was 5000$ and used it as my capital..
Yeah quite a few people do that. And depending on where you are in the world, this can be a really effective route!
So if you were risking 1% would you calculate it from that 5000?
@@japanluv 5K is 5%. 1% is 1K. For me, i would go for 10% to 30% of 5K.
Is there a video on how to set up the EA for FTMO's 5% instead of the equity?
For Unlimited time to pass 2 step challenge & for highest daily & highest Total draw down limits which prop firm do you recommend & the reasons for that conclusion. We need your wisdom.
Hey Matt. What is your expierence with MFF regarding slippage and servers compared to FTMO?
Personally, I've not had any issues with slippage on MFF but then I think I've been fortunate in the instruments and trades/times of trades I've taken, as a number of my students have experienced quite severe slippage at times. The servers for me have generally been fine but if it's a question more between which has the best LPs and infrastructure - FTMO still reigns supreme on those counts, not just against MFF but just the whole industry in general.
@@MatttoMillion thanks alot Matt. Apprentice
If its calculated based in equity.. If i enter 1 standard lot an my equity shows imediatly that is below 5 percent did i violated the rule?
I have 2 questions concerning ftmo since they don't clarify that on their videos nor site, let's say u purchased a 200k standard scaling account, with a max daily drawdown if 5% or 10k per day, if u re holding 2 position overnight one losing more than the daily drawdown let's stay 13k and the other is at let's say 5k profit and u hold them both overnight, after the drawdown reset, would h lose ur account since u have one position over the 10k limit or would not u because the sum of your equity is at minus 8k and did not go over the limit yet, also let's stay u re holding one 15 position in profit over night and the next day after the reset it drops down to +5k profit, would your accoun be suspended because u violated the 10k limit or would u still need to drop down to 190k in order to hit the drawdown?
Thank you for any clarification, since thes3 2 questions are of extreme importance in my decision of which firm I'm willing to go with.
Great explanation. Generally understood other videos, but this sank in immediately. But lost me at 10:21. What is EA? Equity ___? Still very good explanation. Just rapid fast speech.
Bro you didn't mention the rules for floating loss on FTMO , is it the same as MFF as they take which higher from equity/ balance as the starting point?
So for FTMO, your drawdown allowance each day is always the same as it's taken from the starting monthly balance (not the starting daily balance) so on a $100,000 account, you can only lose a maximum of $5,000 in your live P&L a day before violating the rule. So if you're floating a $3000 loss heading into the next day, you'll still only have the ability to float down to $5000, nothing more. So in essence you've only $2000 more wiggle room in that instance.
Thats on 3k loss what if im on 6 k floating profit ? If the trade goes back to BE will i be considered violating the daily drawdown limit?
Note to self: MFF MT4 server time is GMT+2 (GMT+3 during DST).
I'm still annoyed about making the typo 🤣
They should all keep the same rule as FTMO
Would certainly make life easier!
Do you mind making a video explaining how the max drawdown would work... Like once I'm funded will the max drawdown still be operating as in will me loses stack even if I don't hit daily drawdown while I'm funded coz that would mean some point every funded person will hit the max drawdown at some point when the loses stack
Your max drawdown is only relevant for how much you can lose from your balance or equity. Max drawdown just means essentially the maximum loss your account be in.
It's not added up separately. So whatever your max drawdown is, it essentially means the lowest your account balance or equity (depending on the company) can go to.
Most have their max drawdown as 2x daily drawdown limit.
@@MatttoMillion ooohh so in a way if I lose maybe 3% in 3 days in a row I'd be left with 3% to hit max but then if I then win and make profits, does that max drawdown reset... Like I could lose 3% 3 times in a row again... Or what
Which broker y’all recommend for me? I want to buy 50k account? I want to here opinions ?
Does MFF allow buffer like FTMO ? As FTMO you can leave profits to keep the account over break even can that happen with MFF?
Not with MFF they generally push full withdrawals
Can you explain the 1200 dollars overall Profit?
so if I make say 10k on a 100k on day one I cannot go under 105k on day 2 in ftmo right ?? or will your profits not count as drawdowns
Question : So if I violate the daily drawdown without noticing. Will I immediately get an email or do they automatically close my account with my forex funds ?
Yes you'll get an e-mail that alerts you to a hard breach of the rules
Finallly I understand this bs. Ty bro
Talk about overall drawdown in your next video
Hi Kelvin, will add it to the list
Do they change this rule now, or still remain the same ?
Thanks for the video, I really appreciate 🙏🏽 You didn’t talk about starting the day with floating profit of like $5000 on an 100k$ account with FTMO, so my balance is 100k$ and I held my trade to the second day with 5k$ floating profit, how much am I allow to lose on the second day, still 5% which is 5k$ floating profit or am I allowed to lose 5k$ floating profit and additional 5% ?
I'm interested in finding this out too 🤔
He mentioned, whatever is the highest
Thats the main thing im concerned about please someone answer the question
Dd limit remains same 5k everyday, tht is 5% of 100k.
It will reset to 5k max loss everyday but if you have profit like 3k in some day only then you are allowed to lose 8k for that particular day. Not the other days unfortunately. You'll have no issues if you are a scalper. You can reinvest your profit in a really good trade. I hope this help ❤️
Hi,,,what will happen to the account if daily DD is breached (overall max DD is not breached)?
You lose it ❌
This video is going to save a lot of accounts from being disqualified
Let's hope so! 🤞🏻🤞🏻🤞🏻🤞🏻
you are right brother this video has actually saved me coz I wantd to start with mff, after watching this vid my mind is really opened answering most of questions iv had in mind
@@kinglion6197 Hi , what have you decided in the end ? Going with MFF or ? Only asking cosI am going throught the same confusion now and can`t make a decision.
Which proprietary trading has the maximum permitted draw down?
Can't say for certain but the higher ones tend to be 12% and the norm being 10%
@@MatttoMillion the for now only myforexfunds have the highest negative draw down permission
When the floating loss is going more than 5% but later profit is made. My question is does the daily drawdown rule break- "floating losses"?
Yes correct, if your floating loss goes past the 5% you fail/lose the account
@@MatttoMillion if 2% goes to floating loss but closes with profit, will this floating los be added to monthly loss ?? ( at ftmo )
@@Mbappe_8888 yes
So if you are in and out of trades within the same day on mff and for example your 5% profit trade comes back and takes you out breakeven does that count as a 5% daily drawdown or is it still 0% for the day?
Still 0% for the day
@@MatttoMillion but regardless their is a 5% daily drawdown limit? Unless you made 7% one day & the next now you have a 7% drawdown limit? (MFF)
Thank you for the video explanation. I still have a question please about FTMO daily loss. E.g. for 100k funded acc, with daily loss 5%, if on day 1, I have UNREALIZED PROFIT of 10k, then on day 2 that UNREALIZED PROFIT goes to 4.9K UNREALIZED PROFIT, would I be in violation?
You do not need to realize, this is the point.
My good sir Thank you for this amazing video... I needed something like this to understand more of what I'm getting into... You've explained it very nicely 🔥
I'm glad you found it valuable! 👊🏻
@@MatttoMillion 👊yessir
I would also recommend the new users of MFF to use a simple way.. go to your analyser
Maxequity stop loss - starting balance of the day = dd limit for the day
Great tip Nihar!
@@MatttoMillion hope you can give a try to this method and let me know how did it go
So if you only had a loss of 1% on your trade and only make 2 trades a day you should be ok?
On the Evaluation Challenge, can you leave an overnight trade open within the same week?
Yes you can - just be aware that whatever the running P&L/equity is on when the daily reset happens, is what your daily drawdown is taken from on MFF. But you can hold overnight on both but you need also to remember to factor in swaps to the drawdown stat.
@@MatttoMillion Thank you for the clarification! :D
Mff is good for scalp and ftmo for swing
Yep for sure
If you traders don't know the basic meaning of equity and balance then I suggest studying the basics of forex and practicing on ur time before joining a funding
Absolutely 🙌🏻🙌🏻
Does this 5% drawdown apply to the live account ??
Yes
Got caught out 2 hours ago
Damn! Sorry to hear that 😕
Does it apply in all evaluation stages
Yes sir it does 👊🏻
What is the best way to receive payout via Crypto from MFF?
I just use BTC wallet with coinbase and then transfer into my hard wallet
@@MatttoMillion Hard wallet means bank account?
So for MFF, if I made 7% profit in day 1. Does my max DD become 7% or is my DD still 5%?
DD is still 5%
If you break the daily drawdown rule in MFF is your account gonna be suspended temporarily or permanently?
You'll lose it and have to go start another challenge. Occasionally they can find an alternative solution for you with a 'lesser' product transfer.. but this hardly happens anymore, as it did maybe a year ago
My friend, who lives in European country, asks me to register $49 plan a $5000 target for him since I live in USA. He will be trading, but he has to get registered through me. Do I lose anything if he will lose money? Can he anyhow to spoil my reputation?
I have no idea
he in europe can open an account in his name, which can happen to you and if he has winnings you will have to pay taxes, since the winnings are in your name
Well; now that MFF is shut down, you need to do another FTMO comparison with.. ?
Touché :)
How will I ever survive 😢
What happens woth FTMO if you dont close your trades and your equity is up to 105,000. Next day is your max daily loss at 100k or 95k?
I am wondering too.
So If you are up 110k from 100k and don't close, if you go back down to 105k the following day after reset still in profit, you lose your account?
@@frdsg8350 based on what I experience recently, if you don't close your trades then the max daily close is still at $95k even if your open equity rose to 105k. However if you sold at 105k and that is your new balance then next day max daily loss is at 100k
Well I don’t even ever risk that much too even see a 5k drawdown 😂😂😂 I rarely use a standard lot and still make bread
Good man!
yes but if you are a swing trader and you are up let's say 10% and trade go against you just 5%... you lost
The overall drawdown is killer, keep your leverage to max 1:100 and investment 0.25% to max 1%. Manage risk responsibly, and most important don't follow idiots on instagram with phenomenal profits. That's ain't real, go slow, reah your target. Because it's your hard earned money that you invested.
Yep for sure - quality over quantity and you're the only one responsible for your own actions and money 💪
So with mff you can’t lose more than 5% per day. With proper risk management I don’t see the problem here. I think it’s a very good rule.
So if i make $50,000 on day 15 trading a $100,000 funded account now my account is $150,000 at day 15 my daily loss is still at $95,000? On day 15
Think now myforexfunds is better with those drawdown number it seems
Yeah I think it certainly comes down to personal preference and how long you hold trades etc. But we're blessed to have the option!
So it's basically a bad idea to hold trades overnight with MFF
That's down to the trader but certainly more to consider for sure
Yes from My experience I passed phase 1 being proactive, and phase 2 I was less than 300$ of passing but I left 2 trades overnight that went bad and violated the rules and got suspended. I don't recommend swing trading or Leaving trades overnight be in and out of the markets with the correct risk/lot size and you should be good
@@KHALEDFX21 did u not have sl
@@blessing142 I did bro but I guess I wasn't as calculated as I thought secondly I was doing a 10k challenge so very hard to pass in terms of managing risk
@@KHALEDFX21 so you accidentally didn't calculate your SL and you got stopped out.. what would you say about MFF slippage ? In terms of scalping or not fulfilling the stop loss conditions
5pm est is 2am uk time?
It's a typo. Should read 22:00.
🙏🙏
No was a typo (sorry!) as PL MacLeod noticed. It's either 21.00UK or 22.00UK depending on daylight saving hours 👊🏻
@@MatttoMillion yeah...I figured...Good video btw
@@jazzxgray Thanks man!
Doesn't that mean no matter the amount of profit, you mustnt lose $5k on ftmo
Yes
Good video but you talk too fast man😂
🤣 thanks Daniel - I know, it's a terrible issue with me 🤦♂️
Ah so the problem is if you are a swing/overnight trader
Yeah pretty much!
Please talk a bit slower, as there are people from all over the world and not only British English speakers, as you have a strong British accent. Plus, there are some old people as well (like myself) that need more time to digest what you are saying.
Yeah it's an issue of mine - I'm certainly speaking slower than some of the earlier videos but you're right, I will try and slow down more. In the interim, there is the speed function on RUclips, so you can watch it 0.75x speed. Not ideal though I know
Bro, i can't keep looking at that piece of bread or something near your nose..
Holy 💩 - I literally spent 4 hours editing this and not once did I notice it... now you've said it, it's the first and only thing I can see too 😧 damn 🤣
This isn't true. If I'm up $2000 floating and don't close . It can reverse to 0 profit and I still have 5000 daily limit
The video covers both FTMO and My Forex Funds. Your example applies for FTMO. Your example doesn't apply for MFF's drawdown.
FTP is the worst with trailing overall drawdown never again
very loudddddddddddd... calm down bro
so swing traders are fucked...cause if you float 5% in profits and price comes back to break even then your in violation of of the stupid nonsensical rule ...
Yep FTMO Swing of 5%ers certainly the most favourable for swing traders
@@MatttoMillion if 10k acc floating profit 1000$ and suden news it hit stoploss in intraday ..it will violates?
@@rajapandi5173 i believe that's a 10% + % your stoploss: drawdown 😂
Nothing like a Brit who doesn’t know how to explain something properly.
Thank you sir - appreciate your kind words 👊🏻
Can't understand anything... too fast. Try again so people can understand you
Hi Thomas, sorry to hear it was too fast for you - there is a speed adjustment on the RUclips player. But I appreciate it is a bit of an inconvenience to have to use it.
Have a great rest to your weekend 👊🏻