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FTMO - For serious traders

  • #1,701
  • May 23, 2020 6:40pm May 23, 2020 6:40pm
Quoting cisco92111
so, i just applied for the trial period for a 50k account. After i pass the trial and verification period and get to trade the 50k in real time, if i loose 10% of capital does that mean i cant trade with them live anymore and i have to reapply for the trial and verification again?
You will lose the account if you fail to meet their ongoing trade objectives.

Focus heavily on the risk control side.

I assume you would need to go through the entire process again including paying for the challenge.

Once funded your key objective is to firstly monitor floating loss by staying well away from the trade objective limits and secondly derive an ongoing profit.

Masterrmind.......
Master your Mind then Master your Trades
  • #1,702
  • May 23, 2020 6:49pm May 23, 2020 6:49pm
Quoting Masterrmind
{quote} You will lose the account if you fail to meet their ongoing trade objectives. Focus heavily on the risk control side. I assume you would need to go through the entire process again including paying for the challenge. Once funded your key objective is to firstly monitor floating loss by staying well away from the trade objective limits and secondly derive an ongoing profit. Masterrmind.......
Hi MasterrMind thanks for your answer, if you dont mind one more.

So lets say i start at 50k and by the next month i start with 70k. does the Drawdown remain at 10% loss of the initial 50k OR is it now 10& of 70k?
  • #1,703
  • May 23, 2020 7:00pm May 23, 2020 7:00pm
Nevermind i just figured it out. on their website it states the draw down is always set at 10% of INITIAL balance.
  • #1,704
  • May 23, 2020 7:20pm May 23, 2020 7:20pm
Quoting cisco92111
{quote} Hi MasterrMind thanks for your answer, if you dont mind one more. So lets say i start at 50k and by the next month i start with 70k. does the Drawdown remain at 10% loss of the initial 50k OR is it now 10& of 70k?
On a funded account at month end if you made 20k profit FTMO will take their part of the profit which will be 0.3*20K.

They advise funded traders to also request their profit share which in this case would be 0.7*20k.

Start of new month equity would be 50k.

If you decide to leave your profit share in the account then new month equity would be 50k + 0.7*20k which is 64k.

Based on FTMO trade objectives at no time can equity drop below 45k so you in effect have a larger profit buffer.

Max daily loss is set at 2500 on a 50k account which means on a daily basis equity cannot drop below 50000-2500 = 47500.

Max loss is set at 5000 on a 50k account which means overall your equity cannot drop below 45000.

Now by leaving your own profit in the account you have an additional buffer of 14k.

Not many traders take this path based on my own research but it's actually a very smart approach and would offer longevity of your FTMO funded account.

You can now drop from 64k down to 47500 on a daily loss before losing the account.

You can now drop from 64k down to 45000 on Max loss before losing the account.

Make sure you are very familiar with all their trading objectives especially if they decide to change any of them for any reason.

Masterrmind.......
Master your Mind then Master your Trades
  • #1,705
  • May 23, 2020 7:26pm May 23, 2020 7:26pm
Quoting Swing4Fence
2 of 3 100k challenges passed. Focused on getting 3rd back to green, out of drawdown... {image}
They allow 3 challenges at the same time ??

Due to the need to spread trading strategy risk I would also assume that each of the 3 challenge accounts would have 3 independent trading strategies.

Now that's very interesting indeed.

If funded on all 3 accounts you could be trading 3*100k which is 300k plus 4 monthly cycle increments of 25% and with added benefits potentially trading 1M.

Now you are getting somewhere.

Masterrmind........
Master your Mind then Master your Trades
  • #1,706
  • May 23, 2020 7:55pm May 23, 2020 7:55pm
Quoting cisco92111
so, i just applied for the trial period for a 50k account. After i pass the trial and verification period and get to trade the 50k in real time, if i loose 10% of capital does that mean i cant trade with them live anymore and i have to reapply for the trial and verification again?
Yes.
  • #1,707
  • May 23, 2020 9:08pm May 23, 2020 9:08pm
Quoting Masterrmind
{quote} Max daily loss is set at 2500 on a 50k account which means on a daily basis equity cannot drop below 50000-2500 = 47500..........You can now drop from 64k down to 47500 on a daily loss before losing the account..........You can now drop from 64k down to 45000 on Max loss before losing the account....
I am afraid your understanding of max daily loss part is not correct. Each day max daily loss is reset, it remains fixed at 2500 for 50 K account. After daily reset if you gain x amount in profit that will be added as buffer which is 2500+x for that particular day. At midnight this will reset again.

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For max loss it is correct. Some traders use that as buffer and to compound the account. I saw that in one of their interview videos.

Regards.
How big can you think!
  • #1,708
  • May 23, 2020 9:56pm May 23, 2020 9:56pm
Quoting Masterrmind
{quote} They allow 3 challenges at the same time ?? Due to the need to spread trading strategy risk I would also assume that each of the 3 challenge accounts would have 3 independent trading strategies. Now that's very interesting indeed. If funded on all 3 accounts you could be trading 3*100k which is 300k plus 4 monthly cycle increments of 25% and with added benefits potentially trading 1M. Now you are getting somewhere. Masterrmind........
Yes. However, the downside is that each account during the verification period must be traded separately - which creates more work, but worth it in the end. Following the verification, they can combine all 3 to equal their max cap per trader at 300k.
  • #1,709
  • May 24, 2020 2:10am May 24, 2020 2:10am
Quoting Aar
{quote} I am afraid your understanding of max daily loss part is not correct. Each day max daily loss is reset, it remains fixed at 2500 for 50 K account. After daily reset if you gain x amount in profit that will be added as buffer which is 2500+x for that particular day. At midnight this will reset again. {image} For max loss it is correct. Some traders use that as buffer and to compound the account. I saw that in one of their interview videos. Regards.
I want to know about 1 thing.. what happen if positif equity floating.. example today account balance $10,000 and equity $10,800.. hold that position until next day but that positif floating drop to $9,700.. are we disqualify or not for daily limit $500 and max limit $1000 loss..
  • #1,710
  • May 24, 2020 3:15am May 24, 2020 3:15am
Quoting Swing4Fence
{quote} Yes. However, the downside is that each account during the verification period must be traded separately - which creates more work, but worth it in the end. Following the verification, they can combine all 3 to equal their max cap per trader at 300k.
if you have 3 accounts combined, so 300k. Can you still get the 25% account increase every 10% profit? because in 16 months at 2.5% return a month, you'd be trading a 600k account. That 2.5% a month becomes 15,000 a month profit and could quit working and trade full-time, that's a 10,500 a month salary after profit share before taxes.
  • #1,711
  • May 24, 2020 4:08am May 24, 2020 4:08am
Quoting Aar
{quote} I am afraid your understanding of max daily loss part is not correct. Each day max daily loss is reset, it remains fixed at 2500 for 50 K account. After daily reset if you gain x amount in profit that will be added as buffer which is 2500+x for that particular day. At midnight this will reset again. {image} For max loss it is correct. Some traders use that as buffer and to compound the account. I saw that in one of their interview videos. Regards.
It's called Max Daily Loss so it's self explanatory.

Of course, it resets each day since it's a daily calculation.

The other objective is Max Loss.

All you need to end your journey is exceed either of these 2 objectives in a funded account with the Profit Target being of minor importance in that it has no effect on exiting control of the account.

Masterrmind........
Master your Mind then Master your Trades
  • #1,712
  • May 24, 2020 4:28am May 24, 2020 4:28am
Quoting Swing4Fence
{quote} Yes. However, the downside is that each account during the verification period must be traded separately - which creates more work, but worth it in the end. Following the verification, they can combine all 3 to equal their max cap per trader at 300k.
Yes ok so not possible to run each account up to 300k, which would have made it far more interesting.

Basically, 300k Max per trader unless long term profitability proves to the Prop Firm the trader is 'worthy' of trading an even larger account which clearly is at their discretion.

Nevertheless, if you have a 30% month on 300k that's 63k in your pocket and 27k to the Prop Firm.

Although it is possible to hit this 30% it's likely to be rare mainly because the trader is 'restricted' by 2 trading objectives and is more likely to trade on the 'safer' side for fear of losing control of the account.

Masterrmind........
Master your Mind then Master your Trades
  • #1,713
  • May 24, 2020 4:31am May 24, 2020 4:31am
Quoting paddy86
{quote} if you have 3 accounts combined, so 300k. Can you still get the 25% account increase every 10% profit? because in 16 months at 2.5% return a month, you'd be trading a 600k account. That 2.5% a month becomes 15,000 a month profit and could quit working and trade full-time, that's a 10,500 a month salary after profit share before taxes.
It appears not the case.

Trading 600k or better yet a 1M account is a few levels higher and looks unlikely considering that the policy of the Prop Firm is to max out at 300k per trader.

Masterrmind.......
Master your Mind then Master your Trades
  • #1,714
  • May 24, 2020 4:51am May 24, 2020 4:51am
Quoting iskan
{quote} I want to know about 1 thing.. what happen if positif equity floating.. example today account balance $10,000 and equity $10,800.. hold that position until next day but that positif floating drop to $9,700.. are we disqualify or not for daily limit $500 and max limit $1000 loss..
Here is the calculation for Daily Loss.
"
Current daily loss = results of closed positions of this day + result of open positions.
"
Be very aware of when CE(S)T hits midnight.

Masterrmind........
Master your Mind then Master your Trades
  • #1,715
  • May 24, 2020 5:49am May 24, 2020 5:49am
Quoting Masterrmind
{quote} It appears not the case. Trading 600k or better yet a 1M account is a few levels higher and looks unlikely considering that the policy of the Prop Firm is to max out at 300k per trader. Masterrmind.......
ok, thanks. Still, 300k is a fantastic opportunity for a great living from home if you averaged 2% a month.
  • #1,716
  • Edited 6:44am May 24, 2020 6:05am | Edited 6:44am
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on a postive roll...
  • #1,717
  • May 24, 2020 6:45am May 24, 2020 6:45am
Quoting paddy86
{quote} ok, thanks. Still, 300k is a fantastic opportunity for a great living from home if you averaged 2% a month.
Yes certainly but also depends on what the individual trader expects as a comfortable monthly income.

In any case it's money for jam.

Masterrmind........
Master your Mind then Master your Trades
  • #1,718
  • May 24, 2020 7:34am May 24, 2020 7:34am
Quoting Masterrmind
{quote} Yes certainly but also depends on what the individual trader expects as a comfortable monthly income. In any case it's money for jam. Masterrmind........
yes that is very true mate.

id be very surprised if there is more than a handful on here that make over 3000 a month every month let alone 6000.

kudos if they do.
  • #1,719
  • Edited 9:21am May 24, 2020 8:39am | Edited 9:21am
What's the difference between the "normal" and the "aggressive" account apart from the higher targets (in addition to the price of course!). Anyone know?

Also I still can't understand why 1 full lot on Gold on their platform is only equal to 1 mini lot
  • #1,720
  • May 24, 2020 9:18am May 24, 2020 9:18am
Quoting Mtinifx
What's the difference between the "normal" and the "aggresive" account (in addition to the price of course!). Anyone know?
On 50k account option “Aggressive” has same 100k account target & drawdown figures, but on a 50k account. Giving more room for equity swings. Looks like other account options below 50k available, but not 100k.
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