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FTMO - For serious traders

  • #1,141
  • Edited 10:25pm Feb 12, 2020 9:19pm | Edited 10:25pm
Quoting FF.Trader
{quote} I guess 99% you will fail the challenge if you continue to trade like this. Good luck!
Ok I'll bite (just this once)...

How can you lose if
1. You risk -0.5% per trade
2. You trade no more then 2 trades per day...
3. You SOYH once you reach +4% for the month
4 if you suffer -2% during the week , you SOYH the week
5. You trade with win/loss ratio of 1.5-2/1
6. You never ever ever get let you balance fall more than 10%.

The only way I can see one lose or blowing an account is if
1. Some weird electronic event happens and your stops are not honored by the broker.
2. If some weird event happens like the usdchf huge ass drop of a couple of yrs sgo?. (I was on the short side myself and got a good gain those 15 minutes or whatever it took lol)
3. Have opens trades and get hit by a beer truck and no one tends to them...
4. My government decides to confiscate my account
5. I go crazy and decide to allow the trades to go negative and just watch like a dumb ass as the account falls to oblivion

Ok thats enuf.... now in to a funded account...

Peace
Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #1,142
  • Feb 12, 2020 10:22pm Feb 12, 2020 10:22pm
Quoting profitfarmer
{quote} Jess, you are nearly correct. that as outlined perhaps wont lose. the challenge is set up the way that you will need to gamble in a way... BUT will it make to the 10% goal within the given timeframe? bcos without hitting the goal, there isn't next step but perpetually being stuck in a cycle. and time IS a valuable commodity. finite how much you have to waste.
Well in my case I just need 5% and I got till march or early April to accomplish it, I forget LOL..... the 10% challenge was completed at the beginning of this month, been there done that.. took me 13 trading days.

But I will confess . I typically don't aim for this much, even though I know I can make it. The only thing that I can claim with confidence is that I will not allow
the account (challenge or real) to ever ever reach the DDs they call out. That I know with a certainty, cause I am the master of said risk...

In my view its best to take what you are given and come back another week or month to receive it again.
Otherwise, as I think you are eluding to, each time you remain in the "game" your exposure is right there in the middle of the chaos

Ok enuf of this. There is no need to dwell on it anymore... I will report my results when the time comes. Best of luck to all that are involved and continues success to those that are funded..

BIG OLE PEACE
Jess
Our AWESOME IMAGINATION is the true holy grail!
  • #1,143
  • Feb 12, 2020 10:42pm Feb 12, 2020 10:42pm
Quoting moodybot
Why is he going to fail?

Quoting xmess7
How can you lose...

You don't see his problem.

Just wait and see...
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,144
  • Feb 12, 2020 11:09pm Feb 12, 2020 11:09pm
Quoting FF.Trader
{quote} {quote} You don't see his problem. Just wait and see...
Not my problem to worry about.
  • #1,145
  • Feb 12, 2020 11:30pm Feb 12, 2020 11:30pm
Quoting FF.Trader
{quote} I guess 99% you will fail the challenge if you continue to trade like this. Good luck!
You appear to 'take issue' with FTMO, or the traders that expressed an interest, but in another thread you promote The 5ers..........
Whats the real reason with the angst against FTMO?
From where I'm sitting it looks like you are promoting or trying to poach for 5ers on FTMO thread.
I'm neither for against either one, but isn't it taking the piss?
  • #1,146
  • Edited 11:53pm Feb 12, 2020 11:41pm | Edited 11:53pm
Quoting moodybot
{quote} You appear to 'take issue' with FTMO, or the traders that expressed an interest, but in another thread you promote The 5ers.......... Whats the real reason with the angst against FTMO? From where I'm sitting it looks like you are promoting or trying to poach for 5ers on FTMO thread. I'm neither for against either one, but isn't it taking the piss?

I have failed the FTMO challenge, that's why I know and want to alert traders about this issue.

I am more than happy if anyone passes the FTMO challenge, have a funded account and get well-paid.
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,147
  • Feb 13, 2020 12:21am Feb 13, 2020 12:21am
Quoting FF.Trader
{quote} I have failed the FTMO challenge, that's why I know and want to alert traders about this issue. I am more than happy if anyone passes the FTMO challenge, have a funded account and get well-paid.

That's fine, but you don't support one Prop firm and savage another on two opposing threads, not when you're getting a rake off of sales.
Fine when you're a general punter.
It's called ethics.
  • #1,148
  • Feb 13, 2020 1:15am Feb 13, 2020 1:15am
Can anyone explain me whats the problem with FTMo lmax , everyone saying thats rinkost markets broker , i hope Otacar and his team answer us about this thing that everyone is sharing here
  • #1,149
  • Feb 13, 2020 2:33am Feb 13, 2020 2:33am
Quoting FF.Trader
{quote} I have failed the FTMO challenge, that's why I know and want to alert traders about this issue. I am more than happy if anyone passes the FTMO challenge, have a funded account and get well-paid.
As I know 5ers has a higher level of restriction by requiring higher profit % than allowed drawdown to pass.

Can you enlighten us which specific issue has made you fail in FTMO challenge? Would you have passed if you trade using 5ers instead?
  • #1,150
  • Edited 5:02am Feb 13, 2020 4:13am | Edited 5:02am
Quoting Clivethien
{quote} As I know 5ers has a higher level of restriction by requiring higher profit % than allowed drawdown to pass. Can you enlighten us which specific issue has made you fail in FTMO challenge? Would you have passed if you trade using 5ers instead?

Hi Clivethien,

Can you post your question on my thread?

I am very happy to discuss with you about this issue there.

Thank you.
Millions USD funded account. Discount 10% of the Evaluation fee
  • #1,151
  • Feb 13, 2020 4:28am Feb 13, 2020 4:28am
Quoting Traders95
Can anyone explain me what's the problem with FTMo lmax , everyone saying thats rinkost markets broker , i hope Otacar and his team answer us about this thing that everyone is sharing here
Dear Traders95 and all,

we have received the answer about the connection between FTMO and Rinkost. As I said earlier we were also caught unguarded. To be totally transparent, there are three companies. The first one is our proprietary trading company (FF Trader) through which traders manage our capital. Then there is LMAX, which is providing liquidity, takes care of executions and everything when it comes to trading. The last company is T4B.com, which helped us zo set-up the WL for our company( back-office API connection etc). Rinkost is the name of T4Bīs MT server, which they bought several years ago. If you go to t4b.com you can find info about Rinkost in the footer of their homepage. Metaquotes do not allow to change the server name after it was purchased so for this reason you were able to see and connect us with Rinkost. So the connection between FTMO and Rinkost is that we are using their MT license, which was initially owned by them. However, there is no further connection between the two of us. T4B.com are now implementing a solution which will prevent this confusion.

I am sorry about the misunderstanding.
Feel free to ask me any additional questions, but always allow me some time to answer as my schedule is extremely full.

Good luck trading
Otakar
  • #1,152
  • Feb 13, 2020 5:36am Feb 13, 2020 5:36am
Quoting TraderOtakar
{quote} Dear Traders95 and all, we have received the answer about the connection between FTMO and Rinkost. As I said earlier we were also caught unguarded. To be totally transparent, there are three companies. The first one is our proprietary trading company (FF Trader) through which traders manage our capital. Then there is LMAX, which is providing liquidity, takes care of executions and everything when it comes to trading. The last company is T4B.com, which helped us zo set-up the WL for our company( back-office API connection etc). Rinkost is...
ok thank you so much for clarifing us , keep your great work and business

i hope you will make new rules that can help us to withdraw every 10 days like other prop firms for example not every month

please take that in considiration please
  • #1,153
  • Feb 13, 2020 5:51am Feb 13, 2020 5:51am
Thanks for clearing this up Otakar. Does this mean that your risk capital will now be trading on your WL brokerage through lmax liquidity?
  • #1,154
  • Feb 13, 2020 6:46am Feb 13, 2020 6:46am
Quoting xmess7
{quote} Ok I'll bite (just this once)... How can you lose if 1. You risk -0.5% per trade 2. You trade no more then 2 trades per day... 3. You SOYH once you reach +4% for the month 4 if you suffer -2% during the week , you SOYH the week 5. You trade with win/loss ratio of 1.5-2/1 6. You never ever ever get let you balance fall more than 10%. The only way I can see one lose or blowing an account is if 1. Some weird electronic event happens and your stops are not honored by the broker. 2. If some weird event happens like the usdchf huge ass drop of...

Hi guys,
I think most of you missing very important thing about funded account.Lets say you got 100k account,so that rule never will work for you if you will be risking 0.5-1%(500$-1000$) per trade.That is gambling.
You should understand that actually you getting only 10k funding account and from there you have to start looking for your money management 0.5-1%.

peace
  • #1,155
  • Feb 13, 2020 9:06am Feb 13, 2020 9:06am
Quoting FF.Trader
{quote} {quote} You don't see his problem. Just wait and see...
thanks for the added motivation for success. Maybe you should be a mentor lol
  • #1,156
  • Feb 13, 2020 11:00am Feb 13, 2020 11:00am
Quoting FF.Trader
{quote} I guess 99% you will fail the challenge if you continue to trade like this. Good luck!
well, up till now I have not risked blowing up the account or breaking any rule, so far so good...
  • #1,157
  • Feb 13, 2020 4:40pm Feb 13, 2020 4:40pm
Well despite the duplicate candles (dodgy data) and variable spread widening the free challenge works, but it raises all the other concerns I have regarding pass/fail methodology. This below was achieved in 24hrs, but does it mean I am a reasonable trader, not necessarily at all. In this case (like similar prop companies) if this was the challenge, you are now required to trade another 9 days of 20 available to prove you are eligible/capable.
A prudent (good trader) will wait for the next high probability entry to come along, which might come in 21 days, so now all of a sudden I am a failure.
You can't force trades out of the market if they don't exist.
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My comments are not to be taken as trading advice, not a financial advisor
  • #1,158
  • Feb 13, 2020 5:08pm Feb 13, 2020 5:08pm
Quoting cogs
Well despite the duplicate candles (dodgy data) and variable spread widening the free challenge works, but it raises all the other concerns I have regarding pass/fail methodology. This below was achieved in 24hrs, but does it mean I am a reasonable trader, not necessarily at all. In this case (like similar prop companies) if this was the challenge, you are now required to trade another 9 days of 20 available to prove you are eligible/capable. A prudent (good trader) will wait for the next high probability entry to come along, which might come in...
These types of challenges are for intra-day traders, who typically don't need to wait very long for a high probability setup.

I traded today on my funded account (different Prop firm), and made almost 12%, taking over 50 trades, and I don't think it was a "great" day in terms of gains, but it was good in terms of setups being there.

So, my point is, I can trade any given day, and I will find setups. It might be smaller targets/more trades, or it might be a single big winner.

I have a friend who trades less, but still trades every week, usually 3-4 days out of the week.

If someone has to wait 21 days for a high-probability setup, I don't think FTMO works for them.

However, there are swing trading evaluations that would work perfectly for that. In fact, my funded account is technically a swing trading account, but intra-day trading is not prohibited. I'll hold a day or 2 if I think it is a good setup, but if not, I'll trade the shorter term setups...
  • #1,159
  • Feb 13, 2020 5:16pm Feb 13, 2020 5:16pm
Quoting cogs
Well despite the duplicate candles (dodgy data) and variable spread widening the free challenge works, but it raises all the other concerns I have regarding pass/fail methodology. This below was achieved in 24hrs, but does it mean I am a reasonable trader, not necessarily at all. In this case (like similar prop companies) if this was the challenge, you are now required to trade another 9 days of 20 available to prove you are eligible/capable. A prudent (good trader) will wait for the next high probability entry to come along, which might come in...
Spot on.
  • #1,160
  • Feb 13, 2020 5:35pm Feb 13, 2020 5:35pm
Quote
If someone has to wait 21 days for a high-probability setup, I don't think FTMO works for them.
Yep, spose so. After 25 years trading I have gathered an idea of where consistent profits are derived in forex, I guess FTMO prefer scalpers.
My comments are not to be taken as trading advice, not a financial advisor
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