FTMO - For serious traders | Page 30 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

$1,000,000.00 and Beyond ft. FTMO 29 replies

AkaMRP FTMO Journey 45 replies

FTMO Challenge.... How to beat....? 28 replies

FTMO Challenge; Could Survived? 41 replies

FTMO Challenge & Max Drawdown Issue 5 replies

Attachments: FTMO - For serious traders
Exit Attachments

FTMO - For serious traders

  • #581
  • Aug 19, 2019 3:08pm Aug 19, 2019 3:08pm
If we loss 500$ each day then next day we can again loss 500$ ? and is this will calculate like

500$ daily loss x 30 days=15000$

i am bit confused here
  • #582
  • Aug 19, 2019 6:27pm Aug 19, 2019 6:27pm
Quoting waqas3666
If we loss 500$ each day then next day we can again loss 500$ ? and is this will calculate like 500$ daily loss x 30 days=15000$ i am bit confused here
The max daily loss is as explained in earlier post but the max account loss overall in this example would be $1000, so 2 days at $500 would be a failure. All is explained on the website as well as videos on the subject.

maahome
  • #583
  • Aug 20, 2019 2:43am Aug 20, 2019 2:43am
As I understand it, open losses are factored in; not just closed losing trades.

Best to take note of your permitted loss for the day (which can go beyond $500 depending on your balance/equity) -- and to never exceed that.
Amor Fati--F. Nietzsche
  • #584
  • Aug 20, 2019 5:53am Aug 20, 2019 5:53am
Quoting doji
As I understand it, open losses are factored in; not just closed losing trades. Best to take note of your permitted loss for the day (which can go beyond $500 depending on your balance/equity) -- and to never exceed that.
You are correct - max open drawdown + any realized loss must be less than 5% for the day and 10% overall for the account.

maahome
  • #585
  • Edited 12:20pm Aug 20, 2019 11:57am | Edited 12:20pm
Day : 3

this value :
Max daily loss -500 USD-187.98 USDhttps://ziskejucet.cz/wp-content/upl...6/win-icon.gifPassed
Max loss -1 000 USD-106.88 USDhttps://ziskejucet.cz/wp-content/upl...6/win-icon.gifPassed

are not reset as mentioned on post 577
"This amount resets every day at midnight (CEST Time)" its was not

So i try not to worry about it.
as i read the rule are:
Do not LOSE


https://www.mql5.com/en/signals/620841
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
I am completely a lazy Trader & Pennies Rebate Hunter
  • #586
  • Aug 20, 2019 2:35pm Aug 20, 2019 2:35pm
I tell you if you once violate rule 500$ daily lose game is over... try not to do these. In total 1000$ lose is permited.
  • #587
  • Aug 20, 2019 6:39pm Aug 20, 2019 6:39pm
Quoting anthon25
Day : 3 this value : Max daily loss -500 USD-187.98 USD{image}Passed Max loss -1 000 USD-106.88 USD{image}Passed are not reset as mentioned on post 577 "This amount resets every day at midnight (CEST Time)" its was not So i try not to worry about it. as i read the rule are: Do not LOSE https://www.mql5.com/en/signals/620841 {image}
Hi anthon25 - congrats so far on your challenge. I have done a challemge and passed all but the profit so I will most likely request another attempt as per the rules. I think you will find that the daily drawdown number is shown as what your max drawdown has been to date. It is not cumulative and in my attempt the total drawdown was always the maximum I reached at one point. when the next day came and I had a drawdown it did not add to the previous total because the drawdown did not go lower than the lowest earlier point. If you really want to check then make a note of the amount each day and then check your next day activity and see if the total drawdown adds to the figure or not. I think you will find that number only increases if your losses/drawdowns are greater than the previous lowpoint.

If you look at your example you will see where it says for the day that your max loss is 600.15 so you must have made at least 100.15 so far. I am sure if you ask support they will verify this.

Good Luck with it.
maahome
  • #588
  • Aug 20, 2019 6:52pm Aug 20, 2019 6:52pm
Took me a while to get this, but to keep it simple, this is all we need to remember as far as losses are concerned:

On a $10 k account, your balance (inclusive of commissions/swaps) should never go below $9500 per trading day nor below $9000 in total.

The 5% daily loss as well as the 10% total loss are both based on your starting capital of $10k -- and not computed from your current balance/equity. That's why the permitted daily/total loss can vary depending on the amount of your current balance/equity.
Amor Fati--F. Nietzsche
  • #589
  • Aug 20, 2019 10:32pm Aug 20, 2019 10:32pm
Quoting maahome
{quote} Hi anthon25 - congrats so far on your challenge. I have done a challemge and passed all but the profit so I will most likely request another attempt as per the rules. I think you will find that the daily drawdown number is shown as what your max drawdown has been to date. It is not cumulative and in my attempt the total drawdown was always the maximum I reached at one point. when the next day came and I had a drawdown it did not add to the previous total because the drawdown did not go lower than the lowest earlier point. If you really want...
Thanks...
understood
I am completely a lazy Trader & Pennies Rebate Hunter
  • #590
  • Aug 21, 2019 2:01am Aug 21, 2019 2:01am
Quoting doji
Took me a while to get this, but to keep it simple, this is all we need to remember as far as losses are concerned: On a $10 k account, your balance (inclusive of commissions/swaps) should never go below $9500 per trading day nor below $9000 in total. The 5% daily loss as well as the 10% total loss are both based on your starting capital of $10k -- and not computed from your current balance/equity. That's why the permitted daily/total loss can vary depending on the amount of your current balance/equity.
in a 10k account max daily loss is 500$. everyday.
if you start, let's say the 3rd day with an amount of 11200$, your balance couldn't go under 10700$, and max per. itted loss is 2.200$.
  • #591
  • Aug 21, 2019 3:34am Aug 21, 2019 3:34am
Are you sure about this, dnabrasil?

Maybe we need to have Otakar enlighten us on this matter once and for all.
Amor Fati--F. Nietzsche
  • #592
  • Aug 21, 2019 7:16am Aug 21, 2019 7:16am
Hello Traders,

dnabrasil is correct, your equity (open + closed trades) cannot go below 10 700 $ and the Maximum Loss is 2 200 $.

Let me give you a few examples on how the Maximum Daily Loss is calculated:

1) You have a 10 000 $ account and it is your first day. The Maximum Daily Loss is 500 $ and this number does not change. The Maximum Loss is 1000 $, in other words your equity cannot drop below 9000 $ at any given moment. You open 1 trade, which goes against you 200 $, but you close the trade with 350 $ profit. Your Maximum Daily Loss shown in the Account MetriX is 200 $ and the Maximum Loss is also 200 $.

2) The second day, your balance is 10 350 $. Your Maximum Loss is 1 350 $ and the Maximum Daily Loss is 500 $. You open 1 trade, which goes against you 100 $ and you close it with a profit of 150 $. The Maximum Daily Loss shown in the Account MetriX is still 200 $, because it shows the maximum value. The Maximum Loss is also still -200 $, because your lowest equity for the day was 10 350 $ - 100 $ = 10 250 $, which is higher in the comparison to the first day.

3) The third day your balance is 10 500 $. Your Maximum Loss is now 1500 $ and your Maximum Daily Loss is 500 $. You open 1 trade which is closed on a 400 $ stop loss. Your Maximum Daily Loss shown in the Account MetriX is now 400 USD and the Maximum Loss is still 200 USD as the lowest equity from the third day is still higher than on the first day, when the lowest equity was 9800 $.

Please see the detailed explanation of the Maximum Daily loss here: https://ftmo.com/en/trading-objectives/#toggle-id-3 and the detailed explanation of the Maximum Loss here: https://ftmo.com/en/trading-objectives/#toggle-id-4

Otakar
  • #593
  • Aug 21, 2019 9:44am Aug 21, 2019 9:44am
Quoting TraderOtakar
Hello Traders, dnabrasil is correct, your equity (open + closed trades) cannot go below 10 700 $ and the Maximum Loss is 2 200 $. Let me give you a few examples on how the Maximum Daily Loss is calculated: 1) You have a 10 000 $ account and it is your first day. The Maximum Daily Loss is 500 $ and this number does not change. The Maximum Loss is 1000 $, in other words your equity cannot drop below 9000 $ at any given moment. You open 1 trade, which goes against you 200 $, but you close the trade with 350 $ profit. Your Maximum Daily Loss shown in...


The most important one and the straight rule is : Never Lose on the day

Can we ??????

Hope can do trough a challenge days and prove that the FTMO program is worth

Day 4. Target 4x$50 = $200 Recent Equity and balance 291.90 stop trade due to FOMC time
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
I am completely a lazy Trader & Pennies Rebate Hunter
  • #594
  • Aug 21, 2019 9:52am Aug 21, 2019 9:52am
Quoting anthon25
Here it is the confirmation of their site and trough my mail {image} {image}
why you choose standard account instead of rawspread?
  • #595
  • Aug 21, 2019 11:35am Aug 21, 2019 11:35am
Incidentally.

on ic markets my live account is ecn/raw spread
I am completely a lazy Trader & Pennies Rebate Hunter
  • #596
  • Aug 21, 2019 12:02pm Aug 21, 2019 12:02pm
Hello
Is it possible to add HotForex broker? the brokers you work with are not accessible in my country! : (

Regards
  • #597
  • Aug 21, 2019 12:18pm Aug 21, 2019 12:18pm
Quoting paroucia
Hello Is it possible to add HotForex broker? the brokers you work with are not accessible in my country! : ( Regards
You can access them using VPN

my broker which based on Australia ; IC Markets (please do googling about IC Markets. its the best broker i ever had)

IC Markets is not accessible from my beautiful country Indonesia. i'm using VPN or .... you can rent some VPS.
I am completely a lazy Trader & Pennies Rebate Hunter
  • #598
  • Aug 21, 2019 12:52pm Aug 21, 2019 12:52pm
Quoting anthon25
{quote} You can access them using VPN my broker which based on Australia ; IC Markets (please do googling about IC Markets. its the best broker i ever had) IC Markets is not accessible from my beautiful country Indonesia. i'm using VPN or .... you can rent some VPS.
Hi Anthone
i said my problem in wrong way. The problem is the brokers FTMO works with don't accept traders from Iran. I'M Iranian.
  • #599
  • Aug 21, 2019 8:23pm Aug 21, 2019 8:23pm
Thanks for taking the time to reply, Otakar.

TBH, though, I'm now more confused than ever.

Just when I thought I had it figured out, I find I have more questions begging for answers. Such as:

1. If you say that the $500 daily loss is constant in the $10k-account example, how come there's a permitted daily loss which varies such that sometimes the amount can be greater than $500? What's the formula for computing this, as well as the permitted total loss?
2. Would it be correct (and much simpler) to just make sure that your closed loss never exceeds $500 per day to be on the safe side?
Amor Fati--F. Nietzsche
  • #600
  • Aug 21, 2019 9:16pm Aug 21, 2019 9:16pm
Quoting doji
Thanks for taking the time to reply, Otakar. TBH, though, I'm now more confused than ever. Just when I thought I had it figured out, I find I have more questions begging for answers. Such as: 1. If you say that the $500 daily loss is constant in the $10k-account example, how come there's a permitted daily loss which varies such that sometimes the amount can be greater than $500? What's the formula for computing this, as well as the permitted total loss? 2. Would it be correct (and much simpler) to just make sure that your closed loss never...
Hi doji - pretty simple really - $500 max loss - you win $100 then max loss is $600 for that day only. Next day starts at $500 again.

Cheers
maahome
112 traders viewing now