Forex Factory (https://www.forexfactory.com/)
-   Commercial Content (https://www.forexfactory.com/forum/158-commercial-content)
-   -   FTMO.com - Funding for serious traders (https://www.forexfactory.com/thread/707034-ftmocom-funding-for-serious-traders)

JsCave Apr 16, 2020 4:35pm | Post# 1501

1 Attachment(s)
May i ask what's benefits i get from invest at your 10000$ account? for paying 175$?
max loss is 1000$ so literally it's just 1000$ account not 10000$ but still great to me but i tried to compare between if i invest my 175$ by myself in same period if i joined to your program:
Click to Enlarge

Name: 038-708.jpeg
Size: 51 KB

at challenge profit target is 100% i have to risk 1000$ for get 1000$ in less than 30 days so i start with 1000 and end with 2000$.
if i do the same with 175 at my account i have to risk 175$ for make 100% so i start with 175 and end with 350$.

Next Step verification:
at ftmo i start from beginning with 1000$ my target is 50% which still high risk so i consider it 100% so i end that with 2000$.
at my account i not start from beginning i have 350$ and i have to make 100% so end with 700$.

Now i get my funded account:
ftmo give me my 1000$ account and refund me , on other side i withdraw my 175 from my personal account .

so i start with 1000$ at ftmo and 525$ at my personal account.
if i made 20% at the end of month: that will be 200$ at ftmo & 105$ at my personal account
and after deduct 30% ftmo fees: 140$ at ftmo and 105$ at my personal account. (i still didn't calculate commissions).
it's not that much difference??

so what's benefits making me trade with your company and be in danger of losing my account because some rules like no trading news etc?

Phylo Apr 16, 2020 5:49pm | Post# 1502

4 Attachment(s)
{quote} This happens from time to time with certain brokers and I doubt that the broker can offer solution - a coding solution is required - it is always wise to give benefit of the doubt but having looked into solving this code problem my guess is that the broker will not be able to offer a solution - however, again, I can be wrong - its some time ago that this was addressed but that's the way I recall it - code solution is possible but not offered due to family agreements || Note: we do not sell code or coding services. The below links may offer...
for the record

- after downloading the free trial FTMO-LMAX platform and running some code on the charts I sent thomasz1 a PM amending my above statements with examples concurring and proving that the fault was with FTMO-LMAX charts with suffix .lmax while FTMO-LMAX charts without suffix returned correct values.
- the account deposit currency in reference is USD
- the above fault was with pairs with non USD* quote currencies in that the tick value was fixed at 1 (parity)** and not floating in accordance with fluctuating exchange rate.

* GBPNZD, USDJPY etc
** as would be required if the quote currency was USD*** (hence 1 or parity against USD deposit currency)
*** GBPUSD, EURUSD etc

Tick value is the value of one tick of the quote currency (accessible via MODE_TICKSIZE), in the account deposit currency. It's the method the broker uses to 'translate' your profit on trading any pair into the currency in your own account, so it is sort of like an 'exchange rate'.
- https://www.mql5.com/en/forum/123665

GBPNZD - USD deposit currency: The below chart with test indicators shows this rectified - TV/tv: tick value TS: tick size

In the below chart a TP placed at 10 points (1 pip) for 1 lot would return $5.95Attachment 3608377Attachment 3608431
NZDUSD - USD deposit currency: Correct TV for pairs with quote currency USD - NZDUSD, EURUSD, AUDUSD, GBPUSD etc Attachment 3608688
To: FTMO

While TV representation is indicative of fixed,, ...... lmax-Leverage which I believe is 100:1 - needs fixing - see above charts ->> 0:1 <<- !!
Also remember -> non FX instruments Leverages

Please see example below

GBPUSD - deposit currency USD.

Leverage 30:1 (ESMA FX Leverage)
Name:  Z-219.PNG
Views: 1281
Size:  8 KB

maahome Apr 16, 2020 7:45pm | Post# 1503

{quote} But let's not make it more of a matter of "Lies and excuses" for people to go with LMAX. If I feel I don't like or trust it why should citizenship play a role? Remember, we are trading Demo Accounts that are mirrored onto the Live Accounts. So why change now and mention all that US regulatory lies?
What does this have to do with my post? I simply stated that the the test I was doing using the FTMO platform was working for me. What does that have to do with making lies and excuses. And for the record, I just finished a challenge using Purple Trading broker ( I did not pass but was given a free repeat).

cheers and good trading to all
maahome

mcquak Apr 17, 2020 9:48am | Post# 1504

1 Attachment(s)
So trading strategy for the evaluation is ready. It was good idea to test it first, I made one small mistake ( wrong calculation) yesterday which would eventually spoil an assessment due to ~4.5% drawdown.

What I really appreciate on FTMO is they allow to trade not only spot currencies but other CFD assests as well. I know only of one other prop. company allowing it so it's quite rare, for which I do not understand the reason.
Click to Enlarge

Name: Screenshot_20200417-154158_Edge.jpg
Size: 351 KB

TraderOtakar Apr 17, 2020 11:23am | Post# 1505

Happy Friday Traders,

I hope that everyone is safe and healthy. Thank you for your messages.

Firstly,
To: Phylo thank you for your feedback. I have sent a link to your post to the company, which is responsible for the settings of our WL. Can you please send me a PM?

{quote} I dont trust these prop firms anymore. My wife passed the challenge but failed verification the first day it start due to a slippage. A slippage on a demo? Remember you are not the only one that got the password to the account. At one time there was an app in MT4 where a broker can control price movements using an add on in MT4. They can create artificial spikes like these. I forgot the name of it. Just search it here.


Hi Maflip,

from my years of experience in this industry and by running FTMO, I do not think that there is a room for these kinds of price manipulations nowadays. These days, there is no place for fraudulent practices and companies, everything can be supervised and is carefully looked into by regulators. I am not saying that there are no companies like that, but these companies don't last long in my opinion. Not all demo accounts guarantee exact order fills. Some brokers reflect the live account conditions to demo accounts too.

Hello everyone I have a question regarding FTMO Can I hold Indexes (S&P, DOW, FTSE, DAX,…) positions over night? I'm asking because this is written in their website "if you trade Indexes (S&P, DOW, FTSE, DAX,…) on the FTMO Account, we require you to close your positions just before these particular markets close on a daily basis.". you can find it here :
[/font][/color]

Hi Suptre,

thank you for your question. You can hold positions overnight or over the weekend when you are trading the Challenge or the Verification. When you become the FTMO Trader, we want you to be flat outside of trading hours = when instruments are closed. It means mostly weekends and holidays. With some brokers, indices like S&P are not quoted overnight so in this case, you need to be flat as well. If, however, the broker of your choice quotes the Index overnight, you can hold a trade as long as the data feed is active.

Hi Otakar, I have a suggestions regarding your demos: To offer the possibilty of cancelling the demo once you have violated a rule. For example, reaching a daily loss above 2.500 in a 50.000 account. This way, we wont have to wait a period of 10 days after opening your demo, to open a new one. I think this would more convenient for new traders and this would avoid going to another broker to open a new demo. Besides, the trader could start the challenge sooner knowing that he does not have to wait for the ten days to end for each opened demo. The...


Hi Ak386,

I believe that I have replied to you via email. In short, it is not technically possible now, but we are open to considering this idea in the future.

On the last note, it seems markets are back to normal although we still see overnight gaps on some assets and increased volatility. Surprisingly, I am seeing a lot of traders who cope very well with these market conditions and I congratulate to those who benefit on the market moves these days. The coronavirus situation is far from over so please stay safe, protect yourself and your family members and if you have some spare time, devote it to studying or enhancing your trading knowledge and experience. The more you learn, the more you earn.

Patje Apr 17, 2020 11:44am | Post# 1506

Happy Friday Traders, I hope that everyone is safe and healthy. Thank you for your messages. Firstly, To: Phylo thank you for your feedback. I have sent a link to your post to the company, which is responsible for the settings of our WL. Can you please send me a PM? {quote} Hi Maflip, from my years of experience in this industry and by running FTMO, I do not think that there is a room for these kinds of price manipulations nowadays. These days, there is no place for fraudulent practices and companies, everything can be supervised and is carefully...
HI otakar,... You didn't replied to my question, when will you launch ctrader ftmo platform,?

Thanks

thomasz1 Apr 17, 2020 9:20pm | Post# 1507

May i ask what's benefits i get from invest at your 10000$ account? for paying 175$? max loss is 1000$ so literally it's just 1000$ account not 10000$ but still great to me but i tried to compare between if i invest my 175$ by myself in same period if i joined to your program: {image} at challenge profit target is 100% i have to risk 1000$ for get 1000$ in less than 30 days so i start with 1000 and end with 2000$. if i do the same with 175 at my account i have to risk 175$ for make 100% so i start with 175 and end with 350$. Next Step verification:...
your calculation is just wrong,

first step is ok but

this part is non sens " Next Step verification:
at ftmo i start from beginning with 1000$ my target is 50% which still high risk so i consider it 100% so i end that with 2000$..."

Because you don't take the max daily loss into account,
so you can't bet all your bank in one trade,

your max exposure on a trade will be 500$ and not 1000$ with the demo, so you'll have at least 2 trades.
so you must make the same on your real account to compare same risks together.

and so you'll win only 175$ on second phase ( 350$*0.5) and not 375$ , so you'll have 175$ less to start your trading, which is a big difference.

But where i agree with you, it's really more interesting to enter the 100k challenge

(my mind is a little bit confused after that but i don't see mistakes in my post at this time ^^ But perhaps )

JsCave Apr 17, 2020 11:35pm | Post# 1508

1 Attachment(s)
{quote} your calculation is just wrong, first step is ok but this part is non sens " Next Step verification: at ftmo i start from beginning with 1000$ my target is 50% which still high risk so i consider it 100% so i end that with 2000$..." Because you don't take the max daily loss into account, so you can't bet all your bank in one trade, your max exposure on a trade will be 500$ and not 1000$ with the demo, so you'll have at least 2 trades. so you must make the same on your real account to compare same risks together. and so you'll win only 175$...
well
honestly i take max daily loss in my account, i am preparing for that battle if i go through it very well, here already screen from my journal where i compare between my real account result and play with parameters trying to find best way to pass Ftmo challenge:
Click to Enlarge

Name: 036-141.jpeg
Size: 65 KB
that's why i didn't mention 500$ because it's something every trader must calculate it by himself.
and yes you are right i can't put everything in one trade and i can't exceed max daily loss in just one day. that's why i try to use excel for make calculations.
so i still thinking my calculations is right.
and anyway let's face truth... challenge is just 30 day including weekends ... and you have to make 10% of account size which is 100% of your max loss.
so you have to pray and hope next 2 weeks or at least challenge period be lucky to you so you can hit the target without troubles, and it's all high risk by the way since you have to make 1000$ with max loss 1000$. in less than 30 days. so probably you going to take trades with high risk

Honestly FTMO really good opportunity if i can get fund account and make 10% from account in my first month so in that case i get refund + 700$( 10000 challenge) then i deposit that 700$ at my broker so start trading with 700$ at my own account and 1000$ from Ftmo . which more than enough to me to be full time trader and make living from trading. and one more thing i love about Ftmo , they offer fixed daily loss and max loss , all other firms outside offer trailing daily loss and trailing max loss and you have to do additional effort to take care and calculate all of that, i think as long as someone able to pass challenge.

Currently i read contracts& agreements and studying terms and rules for Ftmo & topstepfx , because i thinking i going to apply Monday Morning at one of them .and give that chance may it's going to work if not then it's will be hard lesson to me.

Ak386 Apr 18, 2020 2:15pm | Post# 1509

Gentlemen,I want to share, the success of FTMO is the number of people who want to enter to win the tentative profit of 70%, to win 70% arouses greed, many are hungry to earn some money.
The 10% profit filter with a 5% daily loss is for professionals, experts.
I am in forex for 10 years and I can tell you that it is possible to pass a challenge for 0,5% max 2% of all people, if we have 1,000 participants only about 5 can pass.
FTMO makes money with dreamers.
FTMO says that in 2019 200 traders passed, but they do not tell you how many failed after passing, nor do they tell you how many tried to pass the challenge.
In demo accounts it has a psychological effect, they make you despair because it is 10 days that you have to wait to open another account, so you prefer to open the challenge.
Another thing is in demo is 5 days to reach 10% profit, you can do it but it is a stroke of luck for many, so these traders run to open the challenge because they think they are ready.
Conclusion, FTMO is a company with very clear rules, honest people but they do not tell you all the inconveniences that you can go through.
This message I do for all young people who think that this is easy.
My advice is to do 10 to 20 demos before doing a challenge and ask FTMO to allow new demos every 5 days.
FTMO I do not try to affect your business, I try to make new traders conscious or wake up.
If some believe that 5% drawdown(daily loss) is easy, I will tell you that there is a company that audits accounts, https://www.signalstart.com/search-signals
You can see at more than 800 accounts and no trader will pass the challenge.
THANKS FTMO for making us all more competitive and professionals, I accept the challenge but I have done more than 200 demos and 10 real accounts in 10 years,

Do not cry in this life there is nothing easy, go and try to achieve success!

The ideal is a challenge of 5% DL and 5% profit equal to Verification and a one real account of a maximum of $ 1000 before passing, This is a dream but I know that your strategy is 5 daily loss and 10% profit!

FTMO is a very strong barrier but it is an opportunity for several who have talent and ability!!

touchstoneR Apr 20, 2020 1:53am | Post# 1510

Gentlemen,I want to share, the success of FTMO is the number of people who want to enter to win the tentative profit of 70%, to win 70% arouses greed, many are hungry to earn some money. The 10% profit filter with a 5% daily loss is for professionals, experts. I am in forex for 10 years and I can tell you that it is possible to pass a challenge for 0,5% max 2% of all people, if we have 1,000 participants only about 5 can pass. FTMO makes money with dreamers. FTMO says that in 2019 200 traders passed, but they do not tell you how many failed after...
Well i think FTMO never said their program was easy.irrespective of whether they make money from failed participants or not ,i think their primary motive is to find traders that can manage their funds for them in a professional way.That they get to make some money on the side is an added bonus imo.And do remember that they refund the fee paid upon passing the challenge .Forex trading has never being said to be an easy endeavor no matter the rules in place. So i think people should just stop whining! If you think you are up to the challenge,you take it up.THAT'S WHY IT'S CALLED A CHALLENGE !!!!!! On my own part participating in the challenge has really helped me to uncover some inherent flaws in my process of trading decision making which i know is gonna have a long term positive effect on my trading career.Am working on my strategy as i prepare to take the challenge again.Peace to y'all.

JsCave Apr 20, 2020 11:19am | Post# 1511

i only trading NZDUSD ... What is best broket? I only tried purple trading i don't know if there's something better in terms of spread etc

maflip Apr 20, 2020 3:07pm | Post# 1512

{quote} I´m not saying that is not true. I have already failed 2 or 3 challenges (don´t remeber) and it was all my fault. hope next time it goes better both of us
You get funding with FTMO if passed. But like I said here real funding is 10% of max draw down. So for example for $25,000 account which my wife applied for is really just $2,500 if funded the $25,000 is the buying power (Margin) and $2,500 is the funded. If $2,500 I can easily fund that out of my own pocket so she will not try anymore. Also, they are asking you to double the challenge account if you think about it. It's not a 10% profit it's 100% profit target. Got it? $2,500 max draw down and $2,500 profit target? But some people never get it. It's like magic they make a lie sound really good and make it appear real just like an illusion.

However, I can say this, FTMO is much better compared to other challenge fund firms out there. Like Fidelcrest avoid that company like the plague.

That said you are better off funding for yourself most likely most will fail more than 10x or more before passing and to some never. If you can double your money every month why need FTMO and others to provide funding for you? Because you in a hurry?

But that's just me. If you want to try challenge again go for it.

Chake Apr 20, 2020 5:08pm | Post# 1513

{quote}If you can double your money every month why need FTMO and others to provide funding for you?
There's also the risk aspect.
When the shit hits the fan (black swan event), if funded you can never loose more then your investment.
While if you have a 6 figure account yourself, it can be gone in seconds.

Trader-IT Apr 20, 2020 5:43pm | Post# 1514

[quote = maflip; 12888394] {quote} Riceverai un finanziamento con FTMO se superato. Ma come ho detto qui, il finanziamento reale č il 10% del massimo assorbito. Quindi, ad esempio, per un conto di $ 25.000 per cui mia moglie ha fatto domanda č davvero solo $ 2.500 se finanziato $ 25.000 č il potere d'acquisto (margine) e $ 2.500 č il finanziamento.... [/ Quote]

Hey .... I'm coming in peace. No controversy, clear?
My point of view:
If you fund your account with 2,500, investing 10% is already a big risk. With 250 single-operation or multi-operation groups (e.g. 5 x 50), making 2,500 per month (100%) is a big undertaking.
If a person has 25,000 available, can think of investing for example 5% (half the risk you have, that is 1,250) and realizing 10% (2,500) always becomes not easy, but more feasible.
Having said that, if the problem is your ease in losing 10% or more and you find it more acceptable to lose 250 instead of 2,500, then you are well advised to finance yourself.
Or, if the problem is the inability to make 10% a month whatever the deposit, then you are right to finance yourself, because you wouldn't pass this challenge like any other challenge.

2,500 is not the maximum investable, it is the maximum loss. Or am I wrong?

Questions:
FTMO with 25,000, allows to invest 10 lots (about 2,500) with TP and SL (for example) 1 Pips? Is the profit/loss more or less than 100?
If yes, could you do it with your 2,500 self-funded account?

Someone may need 1 pip a day or a little more, to overcome any challenge.

Ak386 Apr 20, 2020 7:12pm | Post# 1515

touchstoneR "i think their primary motive is to find traders that can manage their funds for them in a professional way.That they get to make some money on the side is an added bonus imo.And do remember that they refund the fee paid upon passing the challenge"

Touchstoner it sounds innocent to me. I wish you good luck with the challenge, I also accept the challenge

"refund the fee paid upon passing the challenge" do you know how many refunds have been made? Do you know how many challenges they have done since FTMO started?
These are money making businesses
My best wishes

Phylo Apr 20, 2020 7:45pm | Post# 1516

5 Attachment(s)
To: FTMO and interested

- please review the below sample information
- further investigation of sample information will reveal Tick Value for some FTMO-LMAX none FX Instruments to be incorrect
- this makes it impossible to obtain correct values for on-chart presentation or other money management calculation and indication.
- it is the broker or providing agent's concern to have these chart specifications returning correct values so that client Indicators and EA can function with precision instilling certitude and confidence in trading tools operating on broker or providing agent terminal/s.

- the account deposit currency in reference is USD

The below charts compare EURUSD and Dax (a EUR currency based/denominated instrument) and have four Test Indicators that identify correct or incorrect Chart Specifications returns

The Test Indicators are self explanatory - the Test Indicator at bottom right does a small calculation central to proving correct Tick Value -> Lots x Points x Tick Value = $amount.

Definitions:
USD-B: USD to Base Currency
USD-Q: USD to Quote Currency

Chart: EURUSD.lmx + DAX.lmax_m (comment: cannot beat that EU spread - just after swaps)Attachment 3611529 The specifics for EURUSD.lmax are correct.
USD-B: 1.08564 (USD-1 EUR) - 0.92112 (EUR-1 USD) [correct]
USD -Q: 1.0000 (USD-1 USD) - 1.0000 (USD-1 USD) [correct]
TV: 1.0000 [correct]
TS: 0.00001 [correct]

The specifics for DAX.lmax_m - Incorrections
USD-B: 1.08564 (USD-1 EUR) - 0.92112 (EUR-1 USD) [correct]
USD -Q: 1.0000 (USD-1 USD) - 1.0000 (USD-1 USD) [incorrect] This would be correct for XAUUSD.lmax, US100.lmax etc - for example
TV: 1.00000 [incorrect]
TS: 0.1 [correct]

It should be obvious that USD-DAX cannot have a Tick Value of 1 as USD-EUR is a floating exchange rate and not fixed at 1 as is the case of USD-USD.
Attachment 3611711
Below is example of the same instrument (different broker) against USD deposit currency returning correct values for TV and all other specifications including Instrument Leverage.

Note: Tick Value (TV):$1.08608 is USD-1 EUR exchange rate. (in this instance EUR is quote currency) This would be same value, as example, for XAUEUR.lmax - this can be seen in the next chart comparison EURUSD-XAUEURAttachment 3611531 The below chart compares EURUSD.lmax and XAUEUR.lmax
- on both charts, with the exception of Instrument Leverage (incorrect), all other specifications are correct

- the XAUEUR.lmax Tick Value of $1.08280 is USD-1 EUR exchange rate
- if the Tick Value for DAX.lmax_m was captured at the same time as for XAUEUR.lmax the DAX.lmax_m Tick Value would also be $1.08280 Attachment 3611590TV_Calc_Test

  1. attached TV_Calc_Test does a small calculation central to proving correct Tick Value -> Lots x Points x Tick Value = $amount
  2. the indicator does not indicate if the TV is correct or incorrect
  3. the user should have sufficient knowledge to know if the indicated TV is correct or incorrect
  4. the user should know when exchange rate is floating or fixed at 1 (USD-USD) and able to perform required calculations.

TV_Calc_Test.ex4


maflip Apr 21, 2020 12:26pm | Post# 1517

{quote} There's also the risk aspect. When the shit hits the fan (black swan event), if funded you can never loose more then your investment. While if you have a 6 figure account yourself, it can be gone in seconds.
Then simple. Only invest the size you are willing to risk and double that every month. It's the same thing FTMO wanted you to do. So when the shit hits the fan you never loose more than your investment. Same thing right? With FTMO you are probably going to have to retry 3x 10x or more before you get funded anyway. So you make it worst for yourself. In the end after all the retries you probably paid them more instead if you just started it yourself. Just discipline yourself without other party guidelines you can do it.

I'm not stopping anybody by taking the challenge but if you think about it you don't need FTMO.

Ak386 Apr 21, 2020 12:57pm | Post# 1518

FTMO: "Unfortunately, the Trading Objectives of the Free Trial haven’t been met in the 14-day period.

Please consider accepting the Challenge, which puts much more demand on your discipline and gives you a better feedback, not to mention the possibility of receiving a funding from our company. I would also like to remind you that the fee for the Challenge is refunded to you with your first withdrawal as soon as you become the FTMO Trader."

Thanks FTMO I do not spend money until I pass several accounts in demo, demo accounts with excellent results.
I know that your main business is the challenge, you need many newbies.
To be more precise you don't need demo traders.

Ak386 Apr 21, 2020 2:26pm | Post# 1519

New newbies do not be confused, your real challenge is the demos, do 5 demos online and then open a challenge.
I am 59 years old and I have been 10 years (2009) in forex and earning 3 years, I know why I tell you.
Ask FTMO for 5-day demos to start another demo, you need more demos.
You can ask me any questions and I will help you!
Please don't play the role of naive

forextrends Apr 21, 2020 4:25pm | Post# 1520

2 Attachment(s)
TODAY’S GBP WEAKNESS AND LIVE FOREX TRADING SIGNALS

Today in the main session forex trading the GBP was weak on all pairs in this currency group. This drove strong price movements during the main trading session. Images of the live forex trading signals from The Forex Heatmap® and price chart movement for these pairs is shown below. The GBP/CHF dropped and is forming a new D1 downtrend. This pair has much more potential if the D1 trend forms. The EUR/GBP rose and is also forming a new D1 uptrend. Also much more potential on this trend if it fully forms. Intraday movement cycles were very good on these pairs. These live currency trading signals and trend based trading plans for 28 pairs can be found on our website at Forexearlywarning.com.

https://www.forexearlywarning.com/the-forex-heatmap

Name:  4-21-2020 GBP Weakness.jpg
Views: 784
Size:  26 KB

Name:  4-21-2020 GBPCHF Chart.jpg
Views: 792
Size:  120 KB

#GBPCHF #EURGBP #forexsignals #forextrading #trading #daytrading #forexalerts #currencytrading #forex British Pound GBP/CHF EUR/GBP


© Forex Factory