Navigating Volatility: MyFundedFX Introduces News Trading Rules

MyFundedFX has recently introduced news trading rules to effectively manage high-impact news events within the trading environment.

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MyFundedFX has recently introduced news trading rules to effectively manage high-impact news events within the trading environment. The firm’s latest update pertains specifically to live simulated accounts, affecting the trading behavior of its clientele during periods of heightened market volatility.

Under the new guidelines, any positions initiated or closed within a 3-minute window surrounding significant news events relevant to the traded asset will not contribute to traders’ profits. These regulations, termed “soft breaches,” entail the removal of profits derived from trades executed during the specified timeframe. However, it’s noteworthy that traders will not lose their accounts as a result of these actions.

Navigating Volatility: MyFundedFX Introduces News Trading Rules

Also, for swing traders accustomed to holding positions over more extended periods, MyFundedFX advises exiting positions outside of this 3-minute window to avoid potential profit deductions. The firm acknowledges the unique trading styles of swing traders and is actively exploring options to accommodate their needs. Specifically, they are considering allowing Take Profit (TP) and Stop Loss (SL) orders during the designated window, thereby providing swing traders with greater flexibility in managing their positions.

Furthermore, to mitigate risks associated with currency fluctuations resulting from news events, traders are prohibited from trading assets correlated with currencies affected by the news event. This measure aims to shield traders from unintended exposure to volatility stemming from interconnected markets.

So, MyFundedFX is diligently disseminating these updates through various channels, including FAQs, email communications, and website announcements, to ensure traders’ compliance and understanding of the new guidelines. By implementing these measures, the firm demonstrates its commitment to fostering a secure and conducive trading environment for its clientele amidst dynamic market conditions.

The Bottom Line: A Recap of Significance

  • MyFundedFX introduces news trading rules for live simulated accounts to manage market volatility.
  • Trades within a 3-minute window of significant news won’t count towards profits; termed “soft breaches,” these trades see profits removed without losses.
  • Swing traders have to exit positions beyond this window to avoid profit deductions; MyFundedFX may allow TP and SL orders for swing trading.

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