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FTMO - For serious traders

  • #381
  • Nov 30, 2018 9:52am Nov 30, 2018 9:52am
Quoting dale88
Hello everyone. I have recently took and passed the challenge and now I have a €80000 Euro account. I have just finished my first month and I have nothing but good things to say about ftmo. They paid me my 70% on the same day of the profit share and instead of refunding my Challenge I told them I wanted to do another challenge so they gave me the next one for free. I have now started my second challenge and hopefully soon I will be trading with 160000 Euro. Every time I have emailed them they have responded within a few hours and they have been...
Why look more advertising? Membership since 2015. Just 3 posts.. and suddenly come to show payment screenshot? Hmmm interesting
  • #382
  • Nov 30, 2018 10:31am Nov 30, 2018 10:31am
I’m not advertising anything, it’s up to you whether you believe me, I’ve got no reason to lie, I don’t understand why people are negative when they haven’t even looked at it.Once you are funded you don’t have to have 50% positive days
  • #383
  • Nov 30, 2018 12:00pm Nov 30, 2018 12:00pm
Quoting dale88
I’m not advertising anything, it’s up to you whether you believe me, I’ve got no reason to lie, I don’t understand why people are negative when they haven’t even looked at it.Once you are funded you don’t have to have 50% positive days
then good luck to you.. by the way it's not negative.. it's logic .. before fund you need to pass 30 days challange then 60 days verfication... and you need to achieve 50% positive days and 10% profit .. and max loss is 10% ... it's not logic terms to me
  • #384
  • Nov 30, 2018 12:08pm Nov 30, 2018 12:08pm
Quoting rtkwar
{quote} then good luck to you.. by the way it's not negative.. it's logic .. before fund you need to pass 30 days challange then 60 days verfication... and you need to achieve 50% positive days and 10% profit .. and max loss is 10% ... it's not logic terms to me
I think it's very reasonable .... And think they are honest.... I will find out soon enough when I try it myself..... BTW Dale if you have a 160k account you can achieve the dream many of us have.... Goodluck, keep us up to date. . Cheers
  • #385
  • Nov 30, 2018 12:29pm Nov 30, 2018 12:29pm
Quoting Patje
{quote} I think it's very reasonable .... And think they are honest.... I will find out soon enough when I try it myself..... BTW Dale if you have a 160k account you can achieve the dream many of us have.... Goodluck, keep us up to date. . Cheers
open real account... trade for 3 months .. be sure you have drawdown less than 10% .. be sure you have 10% profit each month.. be sure you have 50% positive days.. and by the way... i passed their free trails a lot of times but i always ask myself what if i have bad period.. for example that month i just made 8% in my real account with 46% positive days i think.. so what if that period is was my challenge time? .. so you don't need to wait to find out , try their terms in real account and you will find out
  • #386
  • Nov 30, 2018 12:40pm Nov 30, 2018 12:40pm
Quoting rtkwar
{quote} open real account... trade for 3 months .. be sure you have drawdown less than 10% .. be sure you have 10% profit each month.. be sure you have 50% positive days.. and by the way... i passed their free trails a lot of times but i always ask myself what if i have bad period.. for example that month i just made 8% in my real account with 46% positive days i think.. so what if that period is was my challenge time? .. so you don't need to wait to find out , try their terms in real account and you will find out
I did it all ready a few times.. (in small real account) . And if you pass the challenge and verification you should at least trade 10 days a month and handle daily and monthly losses.. Profit target is gone and with good MM it is doable I think .. I also think the amount you pay upfront is reasonable.....would be nice if other traders would share there experiences here....
  • #387
  • Nov 30, 2018 1:02pm Nov 30, 2018 1:02pm
Quoting Patje
{quote} I did it all ready a few times.. (in small real account) . And if you pass the challenge and verification you should at least trade 10 days a month and handle daily and monthly losses.. Profit target is gone and with good MM it is doable I think .. I also think the amount you pay upfront is reasonable.....would be nice if other traders would share there experiences here....
my problem is in verfication and challenge itself.. rules yes seem easy .. and if you experience trader you can do it.. what's hard all you need trade 10 days ... but what if this 10 days didn't achieve 50% positive days you just made 45%? Then you trade again and trade not go well your positive days drops ..for example in my real account with 8% and positive days 46% .. if i was in challenge and tried to over trade i was now lose my 8% to 4% . rules is easy but when you involve in it .. then things change.. of course it's would be nice to see firm who fund successful traders with good conditions .. anyway good luck for you of course i wish the best and success to any trader i never like to see anyone suffering. ... but a lot scammers in forex world is enough to make anyone suspect in everything around.
  • #388
  • Nov 30, 2018 1:22pm Nov 30, 2018 1:22pm
Quoting rtkwar
{quote} my problem is in verfication and challenge itself.. rules yes seem easy .. and if you experience trader you can do it.. what's hard all you need trade 10 days ... but what if this 10 days didn't achieve 50% positive days you just made 45%? Then you trade again and trade not go well your positive days drops ..for example in my real account with 8% and positive days 46% .. if i was in challenge and tried to over trade i was now lose my 8% to 4% . rules is easy but when you involve in it .. then things change.. of course it's would be nice...
Enough scammers in the forex world....absolutely ..... Conditions are not perfect but doable I think..... There are other prop firms wich have worst conditions and higher fee's.... I feel comfortable to risk a few hundred to achieve a.lets say 40k account.... I saw you are from Swiss so for you its even less risk assuming you have a Swiss salary ... BTW I really like Switzerland And wish you all the best on the journey to succeed in this world.... Have a nice weekend . Cheers
  • #389
  • Dec 1, 2018 12:41am Dec 1, 2018 12:41am
This offer must surely be a bad joke.. paying you to prove that I can trade??
I will make you a better offer I will provide unlimited trading liquidity as long as you can indemnify me for any and all amount lost. Indemnity form must be from top 50 international prime bank.
Deal or no deal?

GS
  • #390
  • Dec 1, 2018 2:34am Dec 1, 2018 2:34am
Quoting genghistar
This offer must surely be a bad joke.. paying you to prove that I can trade?? I will make you a better offer I will provide unlimited trading liquidity as long as you can indemnify me for any and all amount lost. Indemnity form must be from top 50 international prime bank. Deal or no deal? GS
while there are other options without the 'paying' component...
there is no way around to prove that you can trade, when it comes to prop trading. like it or not, that component cant be circumvented.

ps. if being hired by a bank as a junior "trader" ( glorified runner/coffee boy) for a salary, you still need to prove your skills to advance; only some of the trading skills interchangeable with ass licking, social drinking, or leg spreading.
there is always, always another trade!!
  • #391
  • Dec 1, 2018 2:48am Dec 1, 2018 2:48am
Quoting profitfarmer
{quote} while there are other options without the 'paying' component... there is no way around to prove that you can trade, when it comes to prop trading. like it or not, that component cant be circumvented. ps. if being hired by a bank as a junior "trader" ( glorified runner/coffee boy) for a salary, you still need to prove your skills to advance; only some of the trading skills interchangeable with ass licking, social drinking, or leg spreading.
Fair view but based on my experience and skill level I can tell a successful retail trader with just five live trade calls. Junior bank traders being successful?? Well not to sound condescending or haughty imho i doubt even the premier bank CEO can be a successful RETAIL trader. Perhaps a savvy investor at best.

Cheers and all the bests to you.
GS
  • #392
  • Dec 1, 2018 4:03am Dec 1, 2018 4:03am
Quoting genghistar
{quote} Fair view but based on my experience and skill level I can tell a successful retail trader with just five live trade calls. Junior bank traders being successful?? Well not to sound condescending or haughty imho i doubt even the premier bank CEO can be a successful RETAIL trader. Perhaps a savvy investor at best. Cheers and all the bests to you. GS
read and understand.
the junior bank 'trader' was mentioned in the context where actual trading skills arent needed.

for the other part:
i know your favorite posting on the 5 trade calls...
but let me tell you on first hand, prop trading doesnt work that way.
one will actually prove his/her trading with live track record of 6-12 months.

or as these other models, pay for the privilege to try to show 2 weeks +2 weeks ( or whatever they ask) consistency in hope to get funded.
there is always, always another trade!!
  • #393
  • Dec 1, 2018 5:14am Dec 1, 2018 5:14am
Quoting profitfarmer
{quote} read and understand. the junior bank 'trader' was mentioned in the context where actual trading skills arent needed. for the other part: i know your favorite posting on the 5 trade calls... but let me tell you on first hand, prop trading doesnt work that way. one will actually prove his/her trading with live track record of 6-12 months. or as these other models, pay for the privilege to try to show 2 weeks +2 weeks ( or whatever they ask) consistency in hope to get funded.
from your experience.. are you thinking ftmo terms is realistic not scam?
  • #394
  • Dec 1, 2018 5:44am Dec 1, 2018 5:44am
Quoting rtkwar
{quote} from your experience.. are you thinking ftmo terms is realistic not scam?
no, not a scam.
they seem to be legit, right?
they seem to do what is promised up front.
there is some traders (with payment proof), so it is workable and doable.
overall, from similar products offered by other firms of this kind, i think the conditions are fairly good.
keep in mind, in most case these accounts are notional, and not necessarily "cost" the same amount of funds for the firm; they really need to securely put up with as much risk as your allowed max DD would be. and that is largely covered by your 'test out fee'.
there is other allocation "tricks" that may also come into play once they have enough traders, and data to go by too, but lets not get too deep into things.

my debate was always on that side that if someone good enough and consistent enough as a trader, there are other options where one doesnt need to pay upfront.
but i can see how some rather risk 300euro vs trade his 10k account for 6-12 months to be able to pull out a live account track record.
different product for different clientele.
there is always, always another trade!!
  • #395
  • Dec 1, 2018 6:41am Dec 1, 2018 6:41am
Quoting rtkwar
{quote} from your experience.. are you thinking ftmo terms is realistic not scam?
My switzerland friend ,
I understand your observations and your distrust, undoubtedly we are in a sea full of sharks.
Me too, some time ago, I expressed some doubts , but I changed my mind. I observed closely FTMO and its rules and disclaimer and I must say that it's a serious company.
I have some friends-traders who have tried the Trial and then the Challenge : everything was okay , no surprise , no trick , no change of rules.
On your " What are the benefits or career from being successful trader ? " thread , you say " I just curious if good traders can apply to work officially in that career with respectable firm " . Well , FTMO could be what you were looking for.
  • #396
  • Dec 1, 2018 7:15am Dec 1, 2018 7:15am
Quoting profitfarmer
{quote} no, not a scam. they seem to be legit, right? they seem to do what is promised up front. there is some traders (with payment proof), so it is workable and doable. overall, from similar products offered by other firms of this kind, i think the conditions are fairly good. keep in mind, in most case these accounts are notional, and not necessarily "cost" the same amount of funds for the firm; they really need to securely put up with as much risk as your allowed max DD would be. and that is largely covered by your 'test out fee'. there is other...
Agree with you. I also dont see any scam idea here.
Rather they have clearly stated the rules.
I havent tried their service, neither promoting.
If i am an investor ofcourse i will ask for the security of my money, their rules seems pretty fine & workable. We all want such style of trading right? If agressive max 10% drawdown a day if normal then no more than 5% a day. In none of the cases account balance shall fell below 10%(normal) or 20%(aggressive) of primary balance & trading 50% time of a calendar month. They do the verification once again to make sure you didnt achieve that by luck. If you can do that consistently i mean maintain that risk management & be profitable then you are a good trader actually.
Even if a ftmo trader fails after passing the tests they will lose either 5% or 10% which is daily loss limit, OR 10% or 20% of primary account balance. But the chances are low because the traders are passed traders not the usual traders. This is business you will have risks inbuilt with it.
They are running a business here based on probability like we all are using in our trades. They calculated their risks well ahead & designed that way.

The interesting thing i find here is they have an advanced automatic trade copier as said by Otakar in this thread. I assume thats an algorithm,which just do not copy trades directly but uses the successfull traders trades as indicators in a complex way on their live account. Anyway its just a wild guess, not my headache how or what they do, as long as they pay the traders thats fine. So far none complain here regarding that.

And yes ProfitFarmar is right, if you are consistent enough & have confidence in your trading ability, you dont need to pay upfront fees like this & might failing, you can trade your way without the pressure that you are trading somebody elses money & anytime you break the rules you are out, better you gather 6-12 months track record of your live account which shall be fine to get funded if it is within the acceptable range of those companies.

Regards.
How big can you think!
  • #397
  • Dec 1, 2018 7:29am Dec 1, 2018 7:29am
Quoting profitfarmer
{quote} read and understand. the junior bank 'trader' was mentioned in the context where actual trading skills arent needed. for the other part: i know your favorite posting on the 5 trade calls... but let me tell you on first hand, prop trading doesnt work that way. one will actually prove his/her trading with live track record of 6-12 months. or as these other models, pay for the privilege to try to show 2 weeks +2 weeks ( or whatever they ask) consistency in hope to get funded.
I find that the offer odd becos of the miniscule upfront fee and not so spectacular trading fund which I am sure any successful trader can easily indemnify them of that entry level requirement losses.
Calling them scammer is unwarranted but they sure capitalise on the economy of scale on the winning vs losing percentile of the general average of all the retail traders.
Imo I don't think any established successful trader would care to go for this novel scheme mainly so that to keep their strategy for themselves except maybe for those couple of new borderline cases testing out their new found winning methodology.
For me personally if I were to start trading OPM I would definitely be confident enough to indemnify them of any losses without having to reveal how I trade.

Cheers
  • #398
  • Dec 1, 2018 8:39am Dec 1, 2018 8:39am
Quoting Aar
{quote} Agree with you. I also dont see any scam idea here. Rather they have clearly stated the rules. I havent tried their service, neither promoting. If i am an investor ofcourse i will ask for the security of my money, their rules seems pretty fine & workable. We all want such style of trading right? If agressive max 10% drawdown a day if normal then no more than 5% a day. In none of the cases account balance shall fell below 10%(normal) or 20%(aggressive) of primary balance & trading 50% time of a calendar month. They do the verification once...
yes i understand what you say... challenge + verfication process is 90 days .... profit 10% (i know that remove later after pass) ... and drawdown is 10% is ok .. but what not logic to me 50% positive day... that term is enough to kick you out the game if you looked closer ... for example if you trader use risk to reward 1:5 and you always loss 3 and win 2 for example then you always be under 50% positive day.. what if in one month you made 46% positive day ( as i know only profit target remove after pass ) .. i don't know it's seem not comfortable condition to me .. it's like you put poison in honey ... that's my main concern. But since professional traders saying it's logic then may i am wrong then .
  • #399
  • Dec 1, 2018 9:40am Dec 1, 2018 9:40am
Quoting rtkwar
{quote} yes i understand what you say... challenge + verfication process is 90 days .... profit 10% (i know that remove later after pass) ... and drawdown is 10% is ok .. but what not logic to me 50% positive day... that term is enough to kick you out the game if you looked closer ... for example if you trader use risk to reward 1:5 and you always loss 3 and win 2 for example then you always be under 50% positive day.. what if in one month you made 46% positive day ( as i know only profit target remove after pass ) .. i don't know it's seem not...
let me give some of my thoughts on this.

every place, some sort of framework is needed to be set to qualify.
i believe this winning day part is for the qualifying only, not thereafter.
assume, it is to take luck factor out, sort of, from the results.
also, again, assume, it is to better establish that a minimum number of trades needed to get a better picture what to expect from a trader.
and finally assume, some rules need to be added to level the fields some, if a trader fail, but only by a bit off, more likely the try out again.
it is a business, not a charity after all!

perfectly fit one of my favorite quote: "if you got lemons, make lemonade".
either for some days make a trade for less than 1:5 RR, or hope you have enough winners in the tryout period, as even if average distribution would be 2 win 3 loss, that doesnt mean you cant have say 6 losses in a row, followed by 8 wins, or whatever.

maybe concern would be along that line the downside, the per risk trade, and the consecutive loss count...vs the profit target.
would be very valid issue.
on a relative short term things can easily swing either direction.

thus my previous comment, that this may fit a certain type of trader, vs other prop options another, etc.

genghistar mentioned about "without having to reveal how I trade." - i dont think one needs to reveal anywhere into deep details how he trades.
in prop trading if anything, it is always a minor concern, ( we all like to believe something that we possess something super special, whereas more often than not success or failure hangs on nuances like position size, or general money management approach, something that more important than the indicator the entry was based on).
i believe there are more important issues, least i had few that were always ahead this.
to give a hint, all the more important ones (for me) relate directly to the trader's earning in the end.

PS. plenty comment from me for a while here. no intention to make more, OP can comment on their set up if he feels ( doubt he will go into much details though on the model).
happy weekend!
there is always, always another trade!!
  • #400
  • Dec 1, 2018 10:21am Dec 1, 2018 10:21am
Quoting rtkwar
{quote} yes i understand what you say... challenge + verfication process is 90 days .... profit 10% (i know that remove later after pass) ... and drawdown is 10% is ok .. but what not logic to me 50% positive day... that term is enough to kick you out the game if you looked closer ... for example if you trader use risk to reward 1:5 and you always loss 3 and win 2 for example then you always be under 50% positive day.. what if in one month you made 46% positive day ( as i know only profit target remove after pass ) .. i don't know it's seem not...
I think 50% positive day rule is not applicable for funded ftmo traders, i can't remember where i read, that can be confirmed by otakar. What he mentioned was you have to notify them ahead if you don't want to trade few days, so they can allocate their fund effectively. Anyway OP can clear you regarding that 50% profitable terms in a calendar month.

Regards.
How big can you think!
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