MyForexFunds Family, we are back with some interesting stats for the month of October and November. We promised you stats and we have kind of dropped the ball due to so many projects due to be completed before the end of the month and delays that have occurred in those projects.
Without further a due, lets’ take a look under the hood of MyForexFunds traders.
Important note: The pass rate was particularly high this month because our violation system was missing a large number of violations.
Important note: For the start of the month the pass rate was high due to our violation system missing a large number of violations .
Some takeaways from our trading data:
Over 60% of traders in our database do not use a stop loss and have a high risk of ruin
The traders who have made it to their 4th pay cycle all have a risk management strategy of below 3% risk on any given day
The profitable traders are in the market less than 4 hours per day
The most profitable traders do not hold traders overnight
A trader who holds trades over the weekend has a 60% high chance of failing or losing their account
When the market is more volatile more traders fail because of a lack of risk management discipline
If volatility is prolonged, it is a blood bath of epic proportions
There are 5 traders who are on their 8th payout on evaluation live accounts.
All of them trade conservatively and make sure they get paid. None of them risk more than 2% per trading day and they stop when they have reached 4-8% in profit until pay cycle has ended
All traders who received record payouts have lost their accounts within 3 weeks of the record payout due to excessive risk.
There are many, many more fun facts about the traders in our database and as we grow, more of those facts are coming to light. Our advice is to take it easy when you reach live, many people seem to be unable to control their greed emotion.
Make sure you get paid and keep your risk as low as possible. After all, it’s a marathon not a sprint.
Happy trading everyone!