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FTMO - For serious traders

  • #1,061
  • Jan 22, 2020 10:54pm Jan 22, 2020 10:54pm
Quoting moodybot
{quote} Reading the latest on the possible Canadian f4ckup of who can/ cannot trade there may come a time when only the well heeled can enter the market.
What are you referring to?
Learn from your mistakes and march on.
  • #1,062
  • Jan 22, 2020 11:58pm Jan 22, 2020 11:58pm
Quoting NotAtrader
The most important rule should be not violating the DD rule, and not the timeframe. The timeframe should no be so important, as this is not a competition or a formula 1 race.

Timeframe is the key to arresting 99% of failed traders
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,063
  • Jan 23, 2020 12:10am Jan 23, 2020 12:10am
Quoting here2there
{quote} What are you referring to?
https://www.forexfactory.com/showthread.php?t=385668
  • #1,064
  • Jan 23, 2020 12:26am Jan 23, 2020 12:26am
Quoting moodybot
{quote} https://www.forexfactory.com/showthread.php?t=385668
It's an unfair system. That's why there's Bitcoin.
Learn from your mistakes and march on.
  • #1,065
  • Jan 23, 2020 2:28am Jan 23, 2020 2:28am
My wife passed it she even got a certificate of successful pass. hah hah If a housewife can do it so can you.

I removed her full name for protection. hah hah

Now it's the other way around I don't need to trade anymore. She can trade for me lol
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  • #1,066
  • Jan 23, 2020 10:33am Jan 23, 2020 10:33am
We are invited to ask questions. I did that days ago. But still, there are no answers.
Learn from your mistakes and march on.
  • #1,067
  • Jan 23, 2020 10:42am Jan 23, 2020 10:42am
Quoting here2there
We are invited to ask questions. I did that days ago. But still, there are no answers.
I asked a question two week ago. It remain unanswered. The selection of questions to be answered is obvious.
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,068
  • Jan 23, 2020 10:59am Jan 23, 2020 10:59am
Quoting NotAtrader
{quote} I asked a question two week ago. It remain unanswered. The selection of questions to be answered is obvious.
If they are not willing to answer our questions, then they should not be allowed to advertise on here.

Even if they would say they are not at liberty to answer a specific question, I would be OK with that. It's better to get a response than to be ignored.

This is a quote from the original post: "In this thread we will share articles about trading, news about the company and the most importantly we will answer all your questions."
Learn from your mistakes and march on.
  • #1,069
  • Edited 12:23pm Jan 23, 2020 11:26am | Edited 12:23pm
Quoting here2there
{quote} If they are not willing to answer our questions, then they should not be allowed to advertise on here. Even if they would say they are not at liberty to answer a specific question, I would be OK with that. It's better to get a response than to be ignored. This is a quote from the original post: "In this thread we will share articles about trading, news about the company and the most importantly we will answer all your questions."
Since they pay their commercial fee to FF, I don’t think anyone will prevent them from advertising. I don’t thing FF care about that.

I can see all the effort FTMO makes in order to create the feeling of being kind and responsive organization, but selecting the questions they want to answer And ignore the rest destroyers quite much. I wish they were aware of that fact

@TraderOtakar - I really wish you could publicly here explain and justify the reason why do you charge the people with a fee for the challenge. And since this has been asked several times and there are many different views and attempts from traders to explain this in many different way, this created a lot of misunderstandings and people begin to make their own conclusions which are not good for FTMO. If you represent organization which care for its reputation, you should make a statement which explains the matter and ends the doubts. Will you???
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,070
  • Jan 23, 2020 2:26pm Jan 23, 2020 2:26pm
Quoting NotAtrader
{quote} @TraderOtakar - I really wish you could publicly here explain and justify the reason why do you charge the people with a fee for the challenge. And since this has been asked...
I think it is safe to say we are not going to get answers to our questions and it's time to move on and forget about FTMO. It's just wasting valuable time posting in here at this point.

If people lose their money on what appears to be an unreasonable challenge, then it's their own fault for not asking the appropriate questions before diving in. It's a lesson we all have to learn, and some people have to be reminded of that lesson more than a few times before it finally clicks.

As for me, I won't do business with any company that doesn't care enough about me to at least attempt to answer my questions.
Learn from your mistakes and march on.
  • #1,071
  • Jan 23, 2020 2:36pm Jan 23, 2020 2:36pm
Quoting NotAtrader
{quote} I gained 9.5% of my equity in less than 8 ours on GBP/USD. The truth is that moves like this do not happen every day and that’s what makes the 10% in a month requirement difficult to satisfy if you hold on to the good and pro trader practices. That’s why FTMO should either remove the fee or extend the timeframe for reaching the 10% requirement. The most important rule should be not violating the DD rule, and not the timeframe. The timeframe should no be so important, as this is not a competition or a formula 1 race. One of the most important...
Good assessment, but I think these movement occur more often than you think as long as you are following 8 currencies. Like the EUR/JPY and CHF/JPY drops today on JPY strength. Good Trading, https://www.forexearlywarning.com/

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  • #1,072
  • Jan 23, 2020 2:38pm Jan 23, 2020 2:38pm
Quoting NotAtrader
{quote} Since they pay their commercial fee to FF, I don’t think anyone will prevent them from advertising. I don’t thing FF care about that. I can see all the effort FTMO makes in order to create the feeling of being kind and responsive organization, but selecting the questions they want to answer And ignore the rest destroyers quite much. I wish they were aware of that fact @TraderOtakar - I really wish you could publicly here explain and justify the reason why do you charge the people with a fee for the challenge. And since this has been asked...
Not A Trader, commercial members pay no fees to forexfactory. I know, I am one for years now.
  • #1,073
  • Jan 23, 2020 4:10pm Jan 23, 2020 4:10pm
Quoting forextrends
{quote} Not A Trader, commercial members pay no fees to forexfactory. I know, I am one for years now.
Ok mate. Thanks! Good to know
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,074
  • Jan 23, 2020 9:00pm Jan 23, 2020 9:00pm
Quoting here2there
As for me, I won't do business with any company that doesn't care enough about me to at least attempt to answer my questions.

A company has the right but not obligated to answer all questions
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,075
  • Jan 24, 2020 10:43am Jan 24, 2020 10:43am
Happy Friday to everyone,

To here2there,
I don’t want to disappoint you, probably I have already done, but you really can’t expect me to answer all your questions. I am sure that even at your job when you were signing a contract, there is a confidential agreement so you can’t disclose certain matters that are classified as confidential.

1. How much money has your company made from failed challenge attempts from the time you opened your doors for business? (I understand if you are not at liberty to disclose such financial information)

This is proprietary information.

2. What is the failure percentage rate for people who have attempted the challenge; and on average, how many people take the challenge per month?

The failure rate is of course higher than a success rate. But the success rate of our traders is higher than a general common stats within the industry, which says that about 90 - 95% lose money. We believe that the success rate with us is higher as we offer trading application such as Mentor Application, which helps traders not to violate the rules and enforce rigid money management. We are also giving a thorough account analysis as well as consultations with our performance psychologist. All of this contributes to a higher success rate than is normally perceived.

I don’t really understand why the above questions (1,2) are your concern. The rules for receiving our funding are super-clearly explained on our website and we deliver them to all our traders through multiple sources. There is no small print or hidden agenda, these rules are very straight-forward and simple to understand. If you are interested, you can practice in the Free Trial until you become proficient. Every trader can do so and there’s no limit to how many Free Trials one can take. Only then you can commit yourself for the paid Challenge and I am not also mentioning that the fee is refunded with your first profit withdrawal. If you don’t feel like you can trade according to our rules, simply don’t order the product. It’s as simple as that.

The high or low success rate of other traders should not be something to affect your decision to take the Challenge or not. You either know your qualities and you can make it or you don’t. When I was applying for the University, the success rate was 1/7 or 1/8 (please don’t discuss whether it is high or low). I was afraid that I am not going to pass, but I studied a lot and I actually found the exams very easy. I was surprised that only 1 out of 8 applicants were accepted. Performance of others should have no influence on your performance.

3. Why don't you simply screen traders to ensure they have experience trading before putting their money at risk via your challenge?

If you run a business like ours, you will learn very fast that everything can be easily forged and faked these days, and that people are very creative in pretending and faking stuff, including track record. Believe me, we’ve seen it all. For these reasons, we have our own monitoring system which is very comprehensive. Besides, our capacities have certain limitations too.

& NotATrader

4. Why charge a fee for people to do the challenge? Why not just let them show you what they can do instead, and then you can determine if they qualify for your program?

We get this question a lot and it is also answered here in this thread. We charge fees for several reasons. First, we need to limit the demand for our services. If the Challenge would be for free, everyone would take 5 – 10 accounts and just try to pass it by randomly executing trades. Obviously, that’s not how a Prop firm operates. We often observe this sort of mentality with our Free Trials as we allow just one active Free Trial at a time (although a number of repetitions is not limited). Some people often try to get multiple accounts through various registrations, we see these workarounds on a daily basis. Providing Challenges is not for free as it may seem. It comes with significant expenses which are hidden behind the scenes (servers, technical solution, manpower, etc...). The more Challenges we have, the cost grows exponentially. For example, one thousand accounts cannot run on the same technology as 100 accounts would do.

When someone buys a Challenge, it is a commitment that he/she is going to trade it responsibly as trader has a fee to worry about. We are a proprietary firm and before we allocate someone to manage our money, we definitely need to see their real commitment and responsibility. Would you give your own money to a stranger based on promises? I think you wouldn’t.

Our funding program is a highly valued, capital intense service, and therefore it is adequately priced. If you cannot afford the fee, simply don’t buy the Challenge. This service is voluntary and is only designed for successful, experienced and serious retails traders who need capital for their trading to make sense.

I wish you a pleasent weekend.
  • #1,076
  • Jan 24, 2020 11:02am Jan 24, 2020 11:02am
Quoting TraderOtakar
Happy Friday to everyone, To here2there, I don’t want to disappoint you, probably I have already done, but you really can’t expect me to answer all your questions. I am sure that even at your job when you were signing a contract, there is a confidential agreement so you can’t disclose certain matters that are classified as confidential. 1. How much money has your company made from failed challenge attempts from the time you opened your doors for business? (I understand if you are not at liberty to disclose such financial information) This is proprietary...
Thank you for taking the time to answer my questions. Your response to me has been both professional and respectful. I appreciate that.

Your answers to my questions make sense, especially the one about the cost to operate your business. I now understand why it is necessary to charge a fee for the challenges.

I apologize if I came across as antagonistic.

May you also have a pleasant weekend.
Learn from your mistakes and march on.
  • #1,077
  • Jan 24, 2020 1:42pm Jan 24, 2020 1:42pm
Quoting TraderOtakar
Happy Friday to everyone, ............
& NotATrader
4. Why charge a fee for people to do the challenge? Why not just let them show you what they can do instead, and then you can determine if they qualify for your program? We get this question a lot and it is also answered here in this thread. We charge fees for several reasons. First, we need to limit the demand for our services. If the Challenge would be for free, everyone would take 5 – 10 accounts and just try to pass it by randomly executing trades. Obviously, that’s not how a Prop firm operates....
Okay TraderOtakat. As always in any business, the respect should be mutual and I appreciate your effort to explain the matter in the best possible way. Unfortunately there are people around here trying to wear your hat explaining things quite arrogantly which only got everything from bad to worse. This is not how it should be and your presence and explanations were missed a lot. Eventually you did answer the questions like a true pro and I deeply appreciate that.

Now I can apologize for creating some bad mood around and I wish you success and many profitable clients.

Respectfully
NotATrader
No username yet? You are on my ignore list. Fuck off and do not quote me!
  • #1,078
  • Jan 25, 2020 2:46am Jan 25, 2020 2:46am
Quoting here2there
{quote} Thank you for taking the time to answer my questions. Your response to me has been both professional and respectful. I appreciate that. Your answers to my questions make sense, especially the one about the cost to operate your business. I now understand why it is necessary to charge a fee for the challenges. I apologize if I came across as antagonistic. May you also have a pleasant weekend.

Quoting NotAtrader
{quote} Okay TraderOtakat. As always in any business, the respect should be mutual and I appreciate your effort to explain the matter in the best possible way. Unfortunately there are people around here trying to wear your hat explaining things quite arrogantly which only got everything from bad to worse. This is not how it should be and your presence and explanations were missed a lot. Eventually you did answer the questions like a true pro and I deeply appreciate that. Now I can apologize for creating some bad mood around and I wish you success...

No excuse!

The most important question for both here2there and NotAtrader:

Do you dare to take the FTMO challenge after everything is clear?
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,079
  • Jan 25, 2020 2:59am Jan 25, 2020 2:59am
I apologize for my behavior for all I offended....

Wish everyone a nice weekend!

Cheers
  • #1,080
  • Jan 25, 2020 4:59am Jan 25, 2020 4:59am
Quoting FF.Trader
{quote} {quote} No excuse! The most important question for both here2there and NotAtrader: Do you dare to take the FTMO challenge after everything is clear?
No opinions from a person who wasted millions of dollars on something he does not understand.
No username yet? You are on my ignore list. Fuck off and do not quote me!
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