MyFundedFX New Trading Rule: Optimize Trading Strategies

MyFundedFX has rolled out a new trading rule to optimize trading strategies during high-impact news events.

So, MyFundedFX has instituted a new rule that is applicable exclusively to live simulated accounts. MyFundedFX shared that any positions initiated or closed within a 3-minute timeframe surrounding significant news releases pertaining to the traded asset will not be factored into profit calculations. These measures, termed “soft breaches,” entail the removal of profits stemming from trades executed within the specified window, albeit without jeopardizing the trader’s account status.

MyFundedFX New Trading Rule: Optimize Trading Strategies

Specific recommendations have been outlined for swing traders to navigate these regulations effectively. To avoid triggering the new guidelines, swing traders have to close positions outside the 3-minute window. However, MyFundedFX is actively exploring avenues to accommodate swing trading strategies, including the potential allowance of TP and SL closures during the designated window.

Furthermore, traders are expressly prohibited from engaging in trades involving assets correlated with currencies affected by the news event. This restriction is going to mitigate correlation risk and preserve trading capital during volatile market conditions.

To ensure seamless implementation and comprehensive understanding among its trading community, MyFundedFX is undertaking proactive communication efforts. Updates are being made to the firm’s FAQs, emails are being dispatched to all traders, and website details are being revised to reflect the new guidelines.

As MyFundedFX continues to prioritize trader success and risk mitigation, these new measures show the firm’s commitment to fostering a conducive trading environment that promotes profitability and prudent risk management. Stay tuned for further updates as MyFundedFX remains at the forefront of innovation in the proprietary trading landscape.

About the Firm

Here are some important facts about the firm:

• Leverage up to 1:100
• No Minimum & Maximum Trading Day Requirements
• Scaling Plan
• Maximum Daily Drawdown Scaling up to 8% (6% with One-step Challenge)
• Maximum Drawdown Scaling up to 14% (12% with One-step Challenge)
• First Payout After 14 Days
• Bi-weekly Payouts

Also, use our Discount Code (FOREXPROPREVIEWS) for a 10% Discount or read the Review.