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FTMO - For serious traders

  • #341
  • Sep 27, 2018 11:36am Sep 27, 2018 11:36am
Quoting Eldero
{quote} If you are out as soon as you get the 10,1% of drawdown, in my personal opinion, the project is not for giving the possibility to the good traders to demonstrate their value, but to get the fee for the challenge. Everybody knows the most of the traders are loosers and consequentially the most of the fees will be banked. The others that will win the challenge will be funded but will be stopped at the first drawdown higher than 10%. In this way the capital is protected and will quickly return in the hand of FTMO in case of drawdown. Indeed,...
so why do you think anyone would like to fund "the most traders are loosers"?
this is a business model, and yes, it is mostly to collect fees, and maybe occasionally find a trader too ( secondary objective).

good traders will find options where they dont have to pay upfront fees to demo trade. but those options wont be open for you without having some own capital ( skin in the game), and some verifiable track record of least 6 months+.

and not get into the finer details, that why a good trader wont need to make more than 10% dd, or why 30-50% a year is considered an excellent result if the dd is low, or how one should not try to trade full time for a living on a 10k account.

as long as the rules are stated clearly ( and frankly they are), it is one's choice to go this route or not.
i think there is better options out there, but i had seen worst ones too!
there is always, always another trade!!
  • #342
  • Sep 27, 2018 12:21pm Sep 27, 2018 12:21pm
Quoting profitfarmer
{quote} so why do you think anyone would like to fund "the most traders are loosers"? this is a business model, and yes, it is mostly to collect fees, and maybe occasionally find a trader too ( secondary objective). good traders will find options where they dont have to pay upfront fees to demo trade. but those options wont be open for you without having some own capital ( skin in the game), and some verifiable track record of least 6 months+. and not get into the finer details, that why a good trader wont need to make more than 10% dd, or why 30-50%...
So true!! Beware
  • #343
  • Sep 27, 2018 12:44pm Sep 27, 2018 12:44pm
Quoting maflip
@ Dnabrasil How is it bro, did you get funded? If you get funded I'm thinking of doing the challenge as well.
Hi Maflip, yes, i get funded, just two week ago. It was a very good experience all the Journey Challenge and verification, and then after a week i received the funded account.
You Will need a lot of discipline, but believe me, it's worth it!
  • #344
  • Sep 28, 2018 3:24am Sep 28, 2018 3:24am
Quoting Eldero
I have two questions Supposing a person wins the challenge of 10000 with the fee of 155 Everything goes right and the trader will be funded Now, he/she start trading with 10000 After a month he/she increase the capital to 12000 Euro but in one day he/she lost 600 Euro ( the max daily loss is 500 ). what happens? He/she receive the 70% of 2000 Euro? If the trader has a negative result for a month or more, he/she can continue trading until there are money on the account or he/she will be stopped?
Hello Eldero,
thank you for very good questions. It works a little bit differently. If you make 2000 Euro, you cannot lose 600 Euro, because as soon as you hit -500.1 Euro your positions will be closed automatically. This would mean that you receive 900 Euro (70% of 1500) plus 155 Euro as the reimbursement for the Challenge fee, but you will lose the right to manage FTMO account. This is the correct procedure according to the contract. However, if you trade for us a long time and we build a good relationship, this situation might be resulted without you losing the FTMO account.

Traders can have negative results as long as they do not hit the Maximum loss.

Otakar
FTMO.com / Funding for serious trader
  • #345
  • Sep 28, 2018 5:20am Sep 28, 2018 5:20am
Quoting profitfarmer
{quote} so why do you think anyone would like to fund "the most traders are loosers"? this is a business model, and yes, it is mostly to collect fees, and maybe occasionally find a trader too ( secondary objective). good traders will find options where they dont have to pay upfront fees to demo trade. but those options wont be open for you without having some own capital ( skin in the game), and some verifiable track record of least 6 months+. and not get into the finer details, that why a good trader wont need to make more than 10% dd, or why 30-50%...
I don't think that anyone should fund looser traders. I meant that the most of the traders will lost the fee of the challenge.
I agree, it's business and it's ok for me. I wish FTMO and all the traders the best
I just wanted to say that considering the probability to loose the challenge and the probabily to be however stopped after the challenge, in my opinion, it is not convenient. Said that, good luck to everybody
  • #346
  • Oct 1, 2018 3:13am Oct 1, 2018 3:13am
[ FUNDAMENTAL ANALYSIS ] The fundamental view for the week starting October 1st. What will move the markets?

Read here: Greenback & Loonie in a bull run

Otakar
FTMO.com / Funding for serious trader
  • #347
  • Oct 1, 2018 10:41am Oct 1, 2018 10:41am
Quoting maflip
{quote} Well, it's a business, getting a fee for the challenge is one way of them to make money. I think nothing is wrong with that as long as the ones who completes the challenge actually gets funded. As for the 10% draw down seems understandable if someone is trading your money wouldn't you want someone trading it with good money management? So at this time in my opinion what really matters to me is to those who actually passed the test if they did get funded or not. Or is there a waiting list before you get funded after passing. If for example...

Hello maflip,

there is no waiting list, the preparation of FTMO account takes about 3-5 days. Profit share is sent within 2-3 days.

Otakar
FTMO.com / Funding for serious trader
  • #348
  • Oct 1, 2018 1:29pm Oct 1, 2018 1:29pm
Quoting TraderOtakar
{quote} Hello Eldero, thank you for very good questions. It works a little bit differently. If you make 2000 Euro, you cannot lose 600 Euro, because as soon as you hit -500.1 Euro your positions will be closed automatically. This would mean that you receive 900 Euro (70% of 1500) plus 155 Euro as the reimbursement for the Challenge fee, but you will lose the right to manage FTMO account. This is the correct procedure according to the contract. However, if you trade for us a long time and we build a good relationship, this situation might be resulted...
1. If a trader loses $500 or whatever the maximum loss/DD allowed over a two week period; $250 in week 1 and $250 in week 2 will they be disqualified?

2. Also, do you disqualify traders if they do not trade often; i.e. does the trader have to trade every week to maintain their account with FTMO?

3. Based on your 10% maximum DD disqualifier what is the maximum leverage allowed to funded traders on FTMO's platforms?

4. Are traders expected to pay the monthly challenge fee for the 3 months of the challenge duration; and if so will that 3 month period of monthly access fees be refunded in full upon withdrawing first profits?
  • #349
  • Oct 2, 2018 2:31am Oct 2, 2018 2:31am
Quoting Battousaib
{quote} 1. If a trader loses $500 or whatever the maximum loss/DD allowed over a two week period; $250 in week 1 and $250 in week 2 will they be disqualified? 2. Also, do you disqualify traders if they do not trade often; i.e. does the trader have to trade every week to maintain their account with FTMO? 3. Based on your 10% maximum DD disqualifier what is the maximum leverage allowed to funded traders on FTMO's platforms? 4. Are traders expected to pay the monthly challenge fee for the 3 months of the challenge duration; and if so will that 3 month...
Hello Battousaib,

thank you for your questions.

1. The Maximum Daily Loss for the Challenge with initial capital $10 000 is $500 (5%). This amount resets every midnight GMT+2 / CE(S)T. The Maximum Loss is $1000 (10%) as soon as you hit one of these levels, you are disqualified. Time does not apply. So if you lose four days in a row $250, you will be disqualified. The Maximum Loss does not trail, which means that if you make $2000, you have room $3000, but you cannot lose more than $500 in a single day.

2. We want our traders to trade at least 10 days in a month so that our capital is allocated effectively. If you know that you will not be trading (holidays, school etc) just let us know. We have never had an issue with inactivity.

3. The maximum leverage is 1:100 with some of our brokers (Admiral Markets, Purple Trading, IC Markets).

4. There is no monthly fee. There is just the initial fee for the Challenge, which is reimbursed with your first profit withdrawal.


Otakar
FTMO.com / Funding for serious trader
  • #350
  • Oct 2, 2018 10:18am Oct 2, 2018 10:18am
[ TRADER INTERVIEW ] We would like every trader to share his/her story with us, just as this trader.

Read here: Psychology and Money Management put things into place – trader Kashyap

Otakar
FTMO.com / Funding for serious trader
  • #351
  • Oct 8, 2018 3:30am Oct 8, 2018 3:30am
[ FUNDAMENTAL ANALYSIS ] The fundamental view for the week starting October 8th. What will move the markets?

Read here: Awaiting the key Brexit solution


Otakar
FTMO.com / Funding for serious trader
  • #352
  • Oct 10, 2018 10:03am Oct 10, 2018 10:03am
Based on the attached screenshot, can you please tell me what is the day loss limit and max loss limit.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 78 KB
  • #353
  • Oct 11, 2018 6:16am Oct 11, 2018 6:16am
Dear meborn2win,

we would need to see the section with Trading Objectives of your Account MetriX. The losses cannot be calculated from the closed positions.

Otakar
FTMO.com / Funding for serious trader
  • #354
  • Oct 11, 2018 6:28am Oct 11, 2018 6:28am
Quoting TraderOtakar
Dear meborn2win, we would need to see the section with Trading Objectives of your Account MetriX. The losses cannot be calculated from the closed positions. Otakar FTMO.com / Funding for serious trader
Thanks Team. I got answer from support team and clarified.
  • #355
  • Oct 11, 2018 8:57am Oct 11, 2018 8:57am
Hi
How many traders are you funding at the moment.
  • #356
  • Oct 11, 2018 10:54pm Oct 11, 2018 10:54pm
Trading Period is 30 days for each challenge,

1. how the period is started. is it after registration
is it normal 30 days or 30 working days, is it including Saturday and Sunday

2. can I have challenge period longer than 30 days
  • #357
  • Oct 12, 2018 8:59am Oct 12, 2018 8:59am
Hi dn1977,

we do have dozens of traders currently trading for our company.

Hi dontino,

1. The Challenge period starts with your first trade. The period is 30 calendar days.
2. At this time we do not offer longer Challenge, but we are seriously considering this option.

Otakar
FTMO.com / Funding for serious trader
  • #358
  • Edited 4:50am Oct 13, 2018 4:06am | Edited 4:50am
Hi
It all does seem like a good concept, a tad better than the leader Topstep trader.

To anyone who thinks these types of companies are a scam have probably been unsuccessful at trading and think that its near on impossible to follow their rules.
Its pretty obvious that around 95% of people that sign up for these funned trader programmes will lose their money. the company will obviously be earning a considerable amount on those fees as trading is very very addictive.

I have had 2 failed attempts with topstep trader a few years back as the rules are no good for my swing trading style.


I just read on your ebook below, Can you tell me how this works.

Mainly due to technical, safety and legislative reasons the management of the Funded account is as follows:
You are still trading on the demo account, the positions are copied onto our live account. You will receive 70% of profits reached on your demo account.





Thanks
  • #359
  • Oct 14, 2018 11:44am Oct 14, 2018 11:44am
[ Sunday Market Review ] Check out our Sunday charts and get ready for the next week.

Read here: Sunday Market Review 14/Oct/2018

To dn1977 : I will reply on Monday. Meanwhile have a nice Sunday.

Otakar
FTMO.com / Funding for serious trader
  • #360
  • Oct 15, 2018 7:27am Oct 15, 2018 7:27am
Quoting dn1977
I just read on your ebook below, Can you tell me how this works. Mainly due to technical, safety and legislative reasons the management of the Funded account is as follows: You are still trading on the demo account, the positions are copied onto our live account. You will receive 70% of profits reached on your demo account. Thanks
Hi dn1977,
yes, we use demo accounts for the reasons mentioned in the ebook, for us as the company it is much safer solution. The most important thing is that traders receive all their money in time and in full.

[ FUNDAMENTAL ANALYSIS ] The fundamental view for the week starting October 15th. What will move the markets?

Read here: Stock Markets turbulence

Otakar
FTMO.com / Funding for serious trader
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