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  • Post #7,721
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  • Jun 5, 2021 7:59am Jun 5, 2021 7:59am
  •  Quickly
  • | Joined Jun 2017 | Status: Member | 148 Posts
Quoting Cryptosurf
Disliked
Most people getting into the funded trader game have heavy tunnel vision. They only see mountains of money waiting for them with zero abilities to get to it.
Ignored

Absolutely right.

In reality, of course, one thing is certain: if you can't trade a small account safely and profitably, then you can't trade a big account safely and profitably.
 
2
  • Post #7,722
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  • Jun 5, 2021 10:03am Jun 5, 2021 10:03am
  •  Joia
  • | Joined Nov 2020 | Status: Junior Member | 2 Posts
So I got live account in ftmo but now on 7% max loss drawdown because i got greedy. Do you think i can get it back? Any similar stories to inspire? Wht tips can you offer me?
 
 
  • Post #7,723
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  • Jun 5, 2021 12:28pm Jun 5, 2021 12:28pm
  •  pipmaster77
  • Joined May 2016 | Status: Member | 2,156 Posts
Quoting Joia
Disliked
So I got live account in ftmo but now on 7% max loss drawdown because i got greedy. Do you think i can get it back? Any similar stories to inspire? Wht tips can you offer me?
Ignored
Risk 10% of WHAT YOU HAVE LEFT per trade. Never take more than 3 consecutive losses in a day. Shut it down after 3R loss in a day. It will be a slow grind back, but you won't have to pay again and start over. With that being said, examine your strategy and try to determine how long it will take to get it back to profit. What is your win rate? Your average RR (win vs loss). Time is an asset as well and if you can start over and pass quicker than getting this one back, go that route. Still continue this one and if you get it back, you have double. It's how I got to 200K, was nursing a live account back to health and started another challenge alongside it.

Back to the 10% of what you have left. If you do this from the onset, you should never lose a challenge/blow an account. Everyone always talks about risk per trade(0.5%,1%,2%). On a personal account that would be a % of your entire equity. With prop firms you have rules, so your rules change as well, on a 100K, your starting DD is 10K, you risk 1K per trade, you lose you now have 9K in DD, risk needs to go to $900, etc. In this way you have way more than 10 losses in a row, even though always risking 10%. The shut it down after 3 losses is there to prevent daily DD violation. When you're up, keep it at a fixed 10% of original DD maybe add $20 per 1K your up, as the daily DD rule is still there. Honestly, I trade the same size when I'm up as if I'm even, there is no point to compounding if you are withdrawing every month and there is NO POINT TO NOT WITHDRAWING EVERY MONTH. If you want bigger capital, do more challenges and/or let them scale you the 25% every 4 months.

Hope this helps.
 
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  • Post #7,724
  • Quote
  • Jun 5, 2021 12:38pm Jun 5, 2021 12:38pm
  •  Joia
  • | Joined Nov 2020 | Status: Junior Member | 2 Posts
Quoting pipmaster77
Disliked
{quote} Risk 10% of WHAT YOU HAVE LEFT per trade. Never take more than 3 consecutive losses in a day. Shut it down after 3R loss in a day. It will be a slow grind back, but you won't have to pay again and start over. With that being said, examine your strategy and try to determine how long it will take to get it back to profit. What is your win rate? Your average RR (win vs loss). Time is an asset as well and if you can start over and pass quicker than getting this one back, go that route. Still continue this one and if you get it back, you have...
Ignored
Yeah i understand what youre saying. So if Ive only got 3k then I only risk 10% of that. My usual RR in challenge and verification is around 2-3. Win rate is 30-50%. I just made stupid mistakes when I got the live account. I got excited with the possibilities of earning money. Thats a mistake I learned. But yeah thanks for the advice. Starting a new challenge is a good idea too. How much drawdown have you had on your 1st live account?
 
 
  • Post #7,725
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  • Jun 5, 2021 1:19pm Jun 5, 2021 1:19pm
  •  lddd
  • Joined May 2009 | Status: Member | 2,988 Posts
Quoting Joia
Disliked
So I got live account in ftmo but now on 7% max loss drawdown because i got greedy. Do you think i can get it back? Any similar stories to inspire? Wht tips can you offer me?
Ignored
How did you pass the challenge and verification. Do you have a specific strategy?

Regards.
 
 
  • Post #7,726
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  • Edited at 5:44am Jun 7, 2021 3:49am | Edited at 5:44am
  •  mike1985
  • | Joined Dec 2019 | Status: Junior Member | 7 Posts
Quoting Mdot
Disliked
@Tomas-ftmo - When will FTMO make some changes to the program? A lot of other firms are making some good changes while FTMO continues to stay the same and become stale. There's many firms that are directly aiming at FTMO and have come out with better programs than FTMO yet, FTMO is just sitting on the sidelines.
Ignored
Many of the new firms seen come in recently wont be around for too long, there are already some pretty bad reviews which will make people think twice about new firms
 
 
  • Post #7,727
  • Quote
  • Jun 11, 2021 9:49am Jun 11, 2021 9:49am
  •  Tomas-ftmo
  • | Commercial Member | Joined May 2020 | 47 Posts
Hello traders,
another Friday, another regular FTMO ForexFactory update. I hope you had a great, profitable week, and let’s get straight to the topic.

In the last update, I’ve been informing you about the early closure of certain CFD Futures due to their June expiry dates, and recently, we received details about another scheduled change in the trading hours:

  1. Due to the Tuen Ng Festival, HK50.cash index will be closed early today on the 11th of June, specifically at 22:00 platform time. The symbol will be closed all day on Monday, 14th June, and will reopen on Tuesday, 15th June at 04:15 platform time.

  1. In Australia, the Queen's Birthday will be celebrated next Monday on the 14th of June. AUS200.cash will therefore open late at 10:10 platform time.


Also, all our platforms will go through weekend maintenance break. The maintenance will occur tomorrow on Saturday, 12th of June, from 04:00 to 06:00 and from 08:00 to 18:00 platform time. On Sunday, cryptocurrencies will be fully tradeable as usual.

A lot of you were discussing different trading approaches and ideas, which is great, and I don’t feel like any further comments from my side are needed today.
Thank you everyone for your valuable trading inputs to our thread and you can expect to hear from me on Friday again. Enjoy the weekend everybody.

-Tomas

 
 
  • Post #7,728
  • Quote
  • Jun 11, 2021 10:26am Jun 11, 2021 10:26am
  •  mixedbags
  • Joined Apr 2019 | Status: Member | 794 Posts
Quoting Tomas-ftmo
Disliked
In Australia, the Queen's Birthday will be celebrated next Monday on the 14th of June. -Tomas
Ignored
Thank you for announcing the Queen's Birthday, it will be a sin if I don't bake her a cake.
 
 
  • Post #7,729
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  • Jun 11, 2021 1:45pm Jun 11, 2021 1:45pm
  •  Megaid
  • | Joined Mar 2021 | Status: Junior Member | 2 Posts
Hello. Apologies if this is posting in the wrong place.

I wrote a review last month about how great FTMO is.

The one negative thing I posted about 4 trading days being most certainly is not the case in my second profit slot day. Finishing my second month in a row in profit, my account went into verifying stage last night at midnight as expected. By 1pm today I received confirmation that my profit share would be paid and processed the payout. At 17.41 I received the funds. Also I received my new login details for next cycle FTMO Trader account at 15.41. Thanks FTMO super job.

PS. Doing another challenge, paid for out of my profits.
 
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  • Post #7,730
  • Quote
  • Jun 14, 2021 5:29pm Jun 14, 2021 5:29pm
  •  Wags
  • Joined Aug 2017 | Status: Member | 1,609 Posts
Quoting TraderOtakar
Disliked
This trader received funding not once, but twice. Read his story. “The Challenge changed my life,” Writes the Trader Who became the FTMO Trader for the Second Time This is his Account MetriX. {image} Otakar FTMO.com / Funding for serious trader
Ignored

Scraped through that one lol
On Point All Time Return: na
 
 
  • Post #7,731
  • Quote
  • Jun 15, 2021 3:10am Jun 15, 2021 3:10am
  •  ferox2020
  • | Joined Jun 2021 | Status: Junior Member | 1 Post
Hi Tomas!

When will FTMO finally allow to trade news and holding trades over the weekend?

Other prop firms also allow it and it makes trading much more comfortable!

Can you tell us something about your future plans regarding news tading and holding trades during the weekend?
 
 
  • Post #7,732
  • Quote
  • Jun 15, 2021 2:28pm Jun 15, 2021 2:28pm
  •  Dao-trades
  • | Joined Jun 2020 | Status: Member | 25 Posts
Quoting Tomas-ftmo
Disliked
Hello traders, another Friday, another regular FTMO ForexFactory update. I hope you had a great, profitable week, and let’s get straight to the topic...-Tomas
Ignored
Hey Tomas hope you are well, I was hoping you could answer these questions for me:

I'm currently doing a verification for $100k, if I pass is there any way I can convert this to a £70k account? If there isn't an option right now are there any plans of implementing this in the future?. In terms of taxes and costs of converting dollars to pounds it would be a lot easier if I had an account in pounds, as I live in the UK.


I'm also wondering what this would mean if I wasnt able to convert my $100k account and then bought a £140k account (equivalent to $200k) would there be no opportunity to merge the accounts? Would I be forced to just have 2 different accounts at all times?

Thanks
 
 
  • Post #7,733
  • Quote
  • Jun 18, 2021 11:09am Jun 18, 2021 11:09am
  •  Tomas-ftmo
  • | Commercial Member | Joined May 2020 | 47 Posts
Happy Friday everyone,
I hope most of you made some profits and have not got caught on the wrong side of Wednesday's volatility and that everyone got to take some time off the screens and finally enjoy a bit of the summer weather. Before the weekend approaches, we will finish with a quick regular update.

Let’s start off with the platforms as usual:
Tomorrow, on Saturday 19th June, all our platforms will undergo weekend maintenance. The maintenance will be performed within 1 hour, trading will be disabled from 05:00 to 06:00 platform time (GMT+3).
On Friday, 25th June, the underlying future of NATGAs.f will expire and will be rolled over to the next maturity period. To ensure a smooth transition, all positions on the instrument will have to be closed by 09:00 platform time on that day and trading will be disabled from 09:00 to 10:05 platform time. Please note that this affects all the accounts: FTMO Challenges and Verifications just as FTMO Accounts.

Let’s move on to your inputs: several posts appeared here during the week and there are a few of them that I’d like to react to. For those of you who are interested, kindly find my responses below:

Quoting Megaid
Disliked
Hello. Apologies if this is posting in the wrong place. I wrote a review last month about how great FTMO is. The one negative thing I posted about 4 trading days being most certainly is not the case in my second profit slot day. Finishing my second month in a row in profit, my account went into verifying stage last night at midnight as expected. By 1pm today I received confirmation that my profit share would be paid and processed the payout. At 17.41 I received the funds. Also I received my new login details for next cycle FTMO Trader account at...
Ignored
Hello Megaid, I’m glad you’re satisfied with your experience with us so far. Your previous Profit Split took longer to process as it fell onto the weekend and our main administration offices are not staff throughout the weekend. Throughout the week, we process 99%+ of Profit Splits within 1 business day. If you’d like to share your thoughts, we’d be glad if you could leave a review on our Trustpilot profile.

Quoting ferox2020
Disliked
Hi Tomas! When will FTMO finally allow to trade news and holding trades over the weekend? Other prop firms also allow it and it makes trading much more comfortable! Can you tell us something about your future plans regarding news tading and holding trades during the weekend?
Ignored
Hello Ferox2020, we are very well aware of the feedback we receive from our traders and we are planning on improving and extending our current services in the near future.

Quoting Dao-trades
Disliked
{quote} Hey Tomas hope you are well, I was hoping you could answer these questions for me: I'm currently doing a verification for $100k, if I pass is there any way I can convert this to a £70k account? If there isn't an option right now are there any plans of implementing this in the future?. In terms of taxes and costs of converting dollars to pounds it would be a lot easier if I had an account in pounds, as I live in the UK. I'm also wondering what this would mean if I wasnt able to convert my $100k account and then bought a £140k account (equivalent...
Ignored
Hi Dao-trades, I hope you’re doing great as well. First off, congratulations on passing the Challenge! I can definitely understand that as you live in the UK, receiving the payout in pound sterling would be more convenient compared to a foreign currency. However, we do not allow account currency changes due to accounting purposes. Currently, I do not have any information that this should change, but that does not necessarily mean we can not change this rule somewhere in the future.
We are also not able to merge 2 FTMO Accounts with 2 different currencies together, so if your goal is to manage a merged, single master FTMO Account, please make sure you pick the same currency for both Evaluation accounts. I will bring this topic up again with our management and try to find a solution for situations such as yours

Thank you for your attention everyone, another short update is behind us. Enjoy the weekend everybody!

-Tomas
 
6
  • Post #7,734
  • Quote
  • Jun 19, 2021 4:30am Jun 19, 2021 4:30am
  •  dr_who
  • | Joined Oct 2007 | Status: Member | 452 Posts
Quoting TraderOtakar
Disliked
Hello Traders, read an interview with a trader who made in 11 trading days a profit of 4 111 USD. Read his story and learn how he received 40 000 USD from our company to trade forex. Read the interview {image}
Ignored

Trading off your $40,000 at 1:50 (which is what your company allows on the US30) and keeping even 50% is the equivalent to trading off $2000 at 1:500 and keeping 100% as I do on ICM. As I'm already trading off a much higher sum why on earth would I want to jump through all your hoops and restrictions ?
He was looking for the card so high and wild hed never need to deal another
 
 
  • Post #7,735
  • Quote
  • Jun 19, 2021 6:41am Jun 19, 2021 6:41am
  •  Koop
  • Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts
Quoting dr_who
Disliked
{quote} Trading off your $40,000 at 1:50 (which is what your company allows on the US30) and keeping even 50% is the equivalent to trading off $2000 at 1:500 and keeping 100% as I do on ICM. As I'm already trading off a much higher sum why on earth would I want to jump through all your hoops and restrictions ?
Ignored
Lol If you can comfortably make a gain of $4100 in 11 days(like the guy in question) on a $2000 dollars account at 1:500, on a consistent basis, then even i can't answer that question either. (rhetoric?)

But Just in case you're not yet aware, the conditions/offers have changed since 2017. There are accounts as large as 100k, 200k and a max cumulative of 400k, all at a leverage of 1:100. The Trader also gets to keep 70% of profits generated.

Now, if you are able to successfully obtain a $100,000 account at 1:100, you have an available margin of $10,000,000 to trade with.
On a personal account with ICM at 1:500 {do they still offer such? must be the offshore subsidiary), you would need an account balance of $20,000 to match that buying power.

To make $10,000 monthly, you only need to try to make 10% on the 100k account.....
However, on your 20k account, you would be aiming for a whopping 50%....... Lol Geez.

Imagine how wildly one would have to risk in order to make 50% monthly.... all that pressure.

Why would i even want to risk losing the total of my 20k deposit, when i could simply risk only $640 to try and earn a larger 100k account from which i could comfortably survive on 5% profit monthly, with ONLY $640 OF MY OWN MONEY AT RISK? even if i have to give the "investor" a 30% cut?

Hmm let me see...

$640 of my money at risk Vs. $20,000 of my money at risk

Hmmm.... what to do?? tough decision.
 
3
  • Post #7,736
  • Quote
  • Jun 19, 2021 6:58am Jun 19, 2021 6:58am
  •  Quickly
  • | Joined Jun 2017 | Status: Member | 148 Posts
Quoting dr_who
Disliked
As I'm already trading off a much higher sum why on earth would I want to jump through all your hoops and restrictions ?
Ignored

You wouldn't, obviously. But if you're "already trading off a much higher sum", then you're not in FRMO's target market in the first place, are you?

Their service is designed for people with trading skills and without their own capital. Clearly that's not you. So why are you implicitly criticizing them for not being something they've never pretended or claimed to be?

Your post makes no sense at all.
 
5
  • Post #7,737
  • Quote
  • Jun 19, 2021 10:32am Jun 19, 2021 10:32am
  •  mixedbags
  • Joined Apr 2019 | Status: Member | 794 Posts
Quoting Quickly
Disliked
{quote} You wouldn't, obviously. But if you're "already trading off a much higher sum", then you're not in FRMO's target market in the first place, are you? Their service is designed for people with trading skills and without their own capital. Clearly that's not you. So why are you implicitly criticizing them for not being something they've never pretended or claimed to be? Your post makes no sense at all.
Ignored
dr who, peter caleb ... the list goes on
 
 
  • Post #7,738
  • Quote
  • Jun 19, 2021 11:49am Jun 19, 2021 11:49am
  •  pipmaster77
  • Joined May 2016 | Status: Member | 2,156 Posts
Quoting Quickly
Disliked
{quote} You wouldn't, obviously. But if you're "already trading off a much higher sum", then you're not in FRMO's target market in the first place, are you? Their service is designed for people with trading skills and without their own capital. Clearly that's not you. So why are you implicitly criticizing them for not being something they've never pretended or claimed to be? Your post makes no sense at all.
Ignored
Exactly, if anyone has a 6 figure account, there is no need for a prop firm. To be honest, really not a need to post or discourage those of us that don't have the funding "yet". The entire space of prop firms would be completely not applicable to someone like that.
 
1
  • Post #7,739
  • Quote
  • Jun 21, 2021 6:32am Jun 21, 2021 6:32am
  •  Inception12
  • Joined Jan 2018 | Status: Member | 343 Posts
Just a little clarification needed on the restricted news events. The restriction is only on opening new trades 2 minutes before but we can hold trades through the event as long as the trade was taken more than 2 minutes before the news hits. This is my understanding and i hope am right
 
 
  • Post #7,740
  • Quote
  • Jun 21, 2021 7:03am Jun 21, 2021 7:03am
  •  Koop
  • Joined Apr 2016 | Status: Conquistadores' | 1,545 Posts
Quoting Inception12
Disliked
Just a little clarification needed on the restricted news events. The restriction is only on opening new trades 2 minutes before but we can hold trades through the event as long as the trade was taken more than 2 minutes before the news hits. This is my understanding and i hope am right
Ignored
Partly correct.
You can't open nor CLOSE any trades 2 minutes before and after a major news events. This includes Stop losses and take profit orders.
If you decide to hold trades through the 4 minutes period allotted you must ensure that price is far away enough from your stops or Tps to not get triggered by price within that time frame.
 
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