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FTMO - For serious traders

  • #1,721
  • May 24, 2020 12:24pm May 24, 2020 12:24pm
Quoting Swing4Fence
{quote} 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.
Thanks I see that. So really there is no extra leverage and one's target is doubled - which means a whole lot more stress trying to reach 20% rather then 10% in 28 days. I don't see the point at all of paying extra for the "aggressive" option!

What they really fall down on is not providing a complete trading conditions webpage like this one (https://blog.blufx.co.uk/blufxmargin) which is very helpful in ascertaining how big a position one can take on each pair for the leverage provided. Otherwise you have to find out by trial and error!
  • #1,722
  • May 24, 2020 1:01pm May 24, 2020 1:01pm
the maximum daily loss and the maximum loss increase if you gain at least 10 added percent points in four consecutive months.
more in the link https://ftmo.com/en/scaling-plan/
  • #1,723
  • May 24, 2020 1:38pm May 24, 2020 1:38pm
Quoting Mtinifx
{quote} What they really fall down on is not providing a complete trading conditions webpage like this one (https://blog.blufx.co.uk/blufxmargin) which is very helpful in ascertaining how big a position one can take on each pair for the leverage provided. Otherwise you have to find out by trial and error!
I had to manually click through the Quotes and click “details” for each pair to calculate. See images attached. Quite possibly the reason they don’t offer a landing page like that, is due to FTMO offering multiple brokers to choose from. Likely each broker would have a similar page? That would have saved me a bundle of time.
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  • #1,724
  • May 25, 2020 1:58am May 25, 2020 1:58am
Quoting Swing4Fence
{quote} I had to manually click through the Quotes and click “details” for each pair to calculate. See images attached. Quite possibly the reason they don’t offer a landing page like that, is due to FTMO offering multiple brokers to choose from. Likely each broker would have a similar page? That would have saved me a bundle of time. {image} {image}
Is that a mobile device, an Iphone or something? Doesn't come up on Android
  • #1,725
  • May 25, 2020 5:01am May 25, 2020 5:01am
Quoting Mtinifx
{quote} Is that a mobile device, an Iphone or something? Doesn't come up on Android
Just hold the symbol for a couple of seconds and a menu will pop up on android
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #1,726
  • May 25, 2020 6:38am May 25, 2020 6:38am
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.......
Scale up from 300k is possible i assume. Please check their this video

Inserted Video
How big can you think!
  • #1,727
  • May 25, 2020 6:41am May 25, 2020 6:41am
Quoting Mtinifx
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
Aggressive one gives you more room for your trades. Which means more daily max loss and more maximum loss. It all matters how you have designed your money management techniques.

Can you show the gold symbol i assume it is gold mini thats why the lot size is small. If you go to details of the symbol you will find it.
How big can you think!
  • #1,728
  • May 25, 2020 6:47am May 25, 2020 6:47am
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 $1000 loss..
Its pretty simple, after the midnight reset(end of day), at any given day if you don't have a closed profit in your account then it is 500$ for 10K account you can total loose. Total lose means together with your closed and floating loss. Say after midnight reset you made 100 usd profit, then for that day you have the window to lose max 600$ in closed trades and floating loss. This reset to 500$ after the midnight.
How big can you think!
  • #1,729
  • May 25, 2020 7:43am May 25, 2020 7:43am
Quoting Aar
{quote} Scale up from 300k is possible i assume. Please check their this video https://www.youtube.com/watch?v=9QFX...&feature=share
Yes I've been through all their material online including FPA reviews among several others.

It's not clear that taking let's say 3 by 100k accounts to 3 by 300k accounts is possible.

My interest (if any) would be as per approach taken by Swing4Fence taking 3 challenges at the one time.

Costs a little more initially but greatly expedites the time taken getting to max funded account capital which is my interest here.

Shooting for 5% to 10% MoM on let's say 900k ...

Masterrmind........
Master your Mind then Master your Trades
  • #1,730
  • May 25, 2020 7:53am May 25, 2020 7:53am
Quoting Mtinifx
{quote} Thanks I see that. So really there is no extra leverage and one's target is doubled - which means a whole lot more stress trying to reach 20% rather then 10% in 28 days. I don't see the point at all of paying extra for the "aggressive" option! What they really fall down on is not providing a complete trading conditions webpage like this one (https://blog.blufx.co.uk/blufxmargin) which is very helpful in ascertaining how big a position one can take on each pair for the leverage provided. Otherwise you have to find out by trial...
Definitely their website could do with much improvement.

Masterrmind........
Master your Mind then Master your Trades
  • #1,731
  • May 25, 2020 8:00am May 25, 2020 8:00am
Quoting Swing4Fence
2 of 3 100k challenges passed. Focused on getting 3rd back to green, out of drawdown... {image}
I certainly look forward to reading about your progress here.

Perhaps you are one of the rare traders taking on 3 challenges at once.

Good for you I say.

Masterrmind ........
Master your Mind then Master your Trades
  • #1,732
  • May 25, 2020 9:03am May 25, 2020 9:03am
Quoting Masterrmind
{quote} Yes I've been through all their material online including FPA reviews among several others. It's not clear that taking let's say 3 by 100k accounts to 3 by 300k accounts is possible. My interest (if any) would be as per approach taken by Swing4Fence taking 3 challenges at the one time. Costs a little more initially but greatly expedites the time taken getting to max funded account capital which is my interest here. Shooting for 5% to 10% MoM on let's say 900k ... Masterrmind........

You can take three 100k challenge separately. This doesn't has to be three 100k but six 50k or eight 25 k. Each challenge has to be passed separately. Once you pass they will add it as a master account where you can trade the whole. So max per trader/strategy allowed is 300k. Then scale up is available as well, because they will get 4 months to observe you.

Yes even 5% out of that amount is ...

Regards.
How big can you think!
  • #1,733
  • May 25, 2020 9:10am May 25, 2020 9:10am
Quoting Aar
{quote} You can take three 100k challenge separately. This doesn't has to be three 100k but six 50k or eight 25 k. Each challenge has to be passed separately. Once you pass they will add it as a master account where you can trade the whole. So max per trader/strategy allowed is 300k. Then scale up is available as well, because they will get 4 months to observe you. Yes even 5% out of that amount is ... Regards.
It's the scaling up of these 3 by 100k accounts that I am U sure about since I've read that Max per trader is 300k.

Need to confirm this ....

Masterrmind.......
Master your Mind then Master your Trades
  • #1,734
  • May 25, 2020 9:16am May 25, 2020 9:16am
Quoting Masterrmind
{quote} It's the scaling up of these 3 by 100k accounts that I am U sure about since I've read that Max per trader is 300k. Need to confirm this .... Masterrmind.......
Watch the video at 3:06 this guy said yes its possible
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How big can you think!
  • #1,735
  • May 25, 2020 10:33am May 25, 2020 10:33am
Hello everyone!

I hope you had a successful trading week. See our answers to your questions below. These are sorted by the time asked and sometimes grouped in one answer to the same trader if they had multiple posts needing our reply.


Quoting Mtinifx
Strange I opened two buy trades on Gold on my trial account and I'm certain I did not set any TP and yet both trades were closed out. With a profit, yes but I should have got a much bigger profit after the big rise this afternoon. Is that normal? Or maybe I did set a TP but I'm sure I didn't!


Hello Mtinifx,
We never close any positions on the trader’s account’s unless explicitly requested and confirmed by the trader themselves (those are very rare cases usually regarding FTMO Accounts).
You had several questions since the last time I wrote here. I would highly recommend reading through our website and FAQ pages. Answers to most questions can be found detailed there. https://ftmo.com/en/faq/
Quoting Mtinifx
{quote} Thanks I see that. So really there is no extra leverage and one's target is doubled - which means a whole lot more stress trying to reach 20% rather then 10% in 28 days. I don't see the point at all of paying extra for the "aggressive" option! What they really fall down on is not providing a complete trading conditions webpage like this one (https://blog.blufx.co.uk/blufxmargin) which is very helpful in ascertaining how big a position one can take on each pair for the...


The aggressive risk setup option was made for the traders who wish to trade with higher drawdown limits – it doubles the Max Daily Loss and Max Loss limits, while also setting a higher Profit Target on the account.

As we want to keep our rules very simple and we provide a variety of partnered brokers which might change offered instruments and other trading conditions, We only have few basic rules for our traders to follow. All rules a trader must follow are:
{C}1) {C}Trading objectives(https://ftmo.com/en/welcome/#objectives)
{C}2) {C}Traders have to trade according to the real market conditions
(https://ftmo.com/en/trading-accordin...e-real-market/)
{C}3) {C}Once in FTMO stage, traders are prohibited to trade around certain news release (https://ftmo.com/en/faq/can-i-trade-news/) and have to close positions prior to any market closure longer than 2 hours ( https://ftmo.com/en/faq/do-i-need-to...ons-overnight/)


Quoting paxilein
Hello! After a colleague mentioned this Website yesterday I had to look into it a bit more as I have the usual "all my money is invested somewhere else and not in my trading account'-problem. It sounds quite nice to have only the rules of max. daily and total loss and of course the closed trades for weekends. So that's much easier than for Example The5%ers with their relative drawdown which needs some calculation and might make it complicated. The additional services and features offered also look quite interesting. If I read this correctly you...


Hello Paxilein,
The speed of scaling up of the account has been decided by our executives in order to have risks to our capital diversified and limited. It could be set up individually if a trader shows exceptional long-term results. https://ftmo.com/en/scaling-plan/
You can decide to keep your share of profit on the account to create a bigger drawdown buffer and to compound the account, but we always take our 30% share of any profit made during the trading period. I.e. if you started your trading period with 120k instead of 100k and brought it to 140 on your Profit Split Day and decided to keep your profits on the account, we would withdraw 6k from the account as our share of the profit. Partial profit withdrawals are also allowed. https://ftmo.com/en/faq/how-do-i-withdraw-my-profits/

Quoting djxput
Some Questions for Tomas or Otakar, I havnt started a challenge yet but will be doing so shortly. 1. Just so I understand correctly what positions can you hold overnite or not hold overnite. I saw this at the ftmo website https://ftmo.com/en/faq/do-i-need-to...ons-overnight/ and right now running a trial account using the lmax broker I see different times listed such as: dax = 9:00-23:00, ws30 = :05-24:00 xtu = 1:00-24:00 so these are...


Hello djxput,
1. Once you trade an FTMO Account, you are required to close any positions on an instrument that has a market closure longer than 2 hours. This is very instrument–dependent as the trading hours of the instruments can vary as you correctly outlined and it means that you are required to close positions in DAX (DAX.lmax_m) prior to 23:00 (broker time) on a daily basis but are allowed to hold positions overnight in XTU(XTUUSDlmax) and WS30(WS30.lmax_m). We have this rule to limit risk to our capital as the longer rollover often result in bigger gaps.
We have made a slight change to the FAQ page referenced to have it formulated even clearer, thank you for bringing it up. https://ftmo.com/en/faq/do-i-need-to...ons-overnight/
To Noeking: It’s not our aim to make clients forget about the fact that the positions need to be closed prior to longer market closures. We simply want to make the Challenge and Verification a bit more trader-friendly as there is no capital at risk during those stages. Once a trader passes Verification, he/she needs to sign a contract which states this quite clearly. Anyone who wants to set the same rules for themselves for the Challenge and Verification as are for FTMO stage can do so voluntarily.

2. If USD is listed, all currency pairs with USD are prohibited to be traded during the 4 minutes around the news. Indexes, oil, gold and other non-currency pairs are allowed to be traded during that time as we do not want to make too many restrictions and USD has quite a lot of prohibitive news coming out. https://ftmo.com/en/calendar/
Contract section 2E: The Provider shall not perform FOREX trading 2 minutes before the announcement of the subject macroeconomic release, until 2 minutes after the announcement of the subject macroeconomic release.
The rule in simple terms says: No new position can be opened (manually or by pending order) or any existing position altered by any means (manually closed, partially closed, closed by take-profit/stop-loss/trailing stop) during the 2 minutes prior to and 2 minutes after the restrictive news comes out. Technically, you don't have to close the position before this time window but note that this is extremely risky. The best and safest way is to always be out of your positions and to have no pending orders set on the specific news affected instrument prior to this 4-minute window. All the trading-prohibitive news are listed in our Economic Calendar with blue background fill and the instrument which is prohibited from trading is specified in the “Currency” column.
By the way, anytime you want anything to be answered to you fast, you can address us at [color=black][email protected].[/color]

Quoting leweg1
{quote} yes im confused also, my TE is my challenge which comes up as demo but within my MT4 app it says its a live account


Hello leweg,
We had a wrong setup in past that caused some demo accounts to be displayed as live. It’s nothing to worry about. If you encountered any new accounts to be displayed as live, please let us know at [color=black][email protected]. Thank you[/color]

Quoting Patje
{quote} Thanks for the update, there platform suddenly loses all of there advantages, I was playing with etusd yesterday late in the evening and I noticed it, but I thought it was swap or something and 1 lot on this is 10 times smaller than on btc so 14 bucks is insanely high....... Spreads are also remarkable higher often than the demo feed from other brokers.... So people should really think through now about wich broker to use.... It's sad news because the no commission was quite interesting...


Hi Patje,
Thank you for the question. Yes, we liked to have no commissions as well, but after months without any issues we encountered some individuals, who benefited massively due to this. We have already changed commissions for other cryptos besides BTC to 0.7 USD.

Quoting ErreElle
{quote} Second question [IMG]file:///C:/Users/Tomas/AppData/Local/Temp/msohtmlclip1/01/clip_image002.png[/IMG] if you get two funded accounts, and with one of the two you make a few mistakes (like breaking the rules) and the account is closed..the other continues on its way without suffering consequences? thanks


Hello ErreElle,
Yes, your understanding is correct. If you have multiple accounts, a violation on one does not have any implications to the others.

Quoting mizi123
{quote} Definitly trading your own 1K in peace of minde is better than their ilusion 10 K under presure i tell you because i have lost the game just for 0.58$ because their "magic" account metrix has stooped working! Be aware of these dirty game FTMO! Have a good and safe jorney in traading your own money [IMG]file:///C:/Users/Tomas/AppData/Local/Temp/msohtmlclip1/01/clip_image004.png[/IMG] I em leaving the thread.


Hello Mizi,
As we have to protect our capital, all positions on FTMO Account are closed as soon as the system records a violation of the rules. As a consequence, FTMO Accounts are almost always violated with just a few dollars above the limits. If we let the positions run after the violation, it might be e different story…
If you think that you did not violate the Trading Objectives please contact us via email and we will investigate your case.


Quoting Masterrmind
{quote} Well said. It would certainly be interesting to find out how many FTMO Traders have more than a few months trading a 50k or 100k funded account. It would be nice to have several top performers with their trading analytics visible on the website. Plenty of improvements could be made but I guess they are relatively young. To the guy above that said 300% per month off a 1k account is impossible.... No it's not. The issue though is one of consistency and consecutive 300% MoM well that's another issue altogether. Good trading, Masterrmind...........


Hello Mastermind,
In order to provide more transparency and proofs of FTMO giving pay-outs, we usually ask the top traders if they would like to do an interview when we pay them out the profits. It is quite exceptional though for anyone to say yes as they wish to maintain their privacy and have nothing to gain. The successful traders know they are good and don’t need the public credit…
If you have any suggestions for improvements, feel free to share here or email us at [email protected]


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. 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. ….


As you have noticed afterwards, this was not a correct understanding. Just to clarify, note that Max Daily Loss is always compared to the account equity at the start of the day (midnight CEST). If you started the day with $64k, you would get into a breach at $61 499.99. This would result in account closure, however, we would still pay you your profits, which would be around 11 499. All positions are automatically closed if our system notices a violation of Max Daily Loss or Max Loss.

Quoting Masterrmind
{quote} They allow 3 challenges at the same time.....


We allow as many Challenges at the same time as you wish. You can even use a trade copier and use the same strategy on these. Note that one user or one strategy can have a maximum of combined $300k worth of Challenges progressed to the FTMO stage accounts. If you had more successful Verifications, some of these would be put on hold.

If you meet the criteria for scaling up of your account (https://ftmo.com/en/scaling-plan/) we will scale you account up as if it was just a single account, so providing you meet the requirements every time, you could bring your $300k FTMO account to $600k after 16 months and $1.075M after another 24 months. In case of exceptional results, your account could be scaled up even faster depending on the individual agreement if our executives decided to offer you that opportunity.


I hope I addressed all the unanswered questions here.

Happy trading!
Tomas
  • #1,736
  • May 25, 2020 1:44pm May 25, 2020 1:44pm
So I just started my challenge and use the lmax datafeed but spreads are kinda insanely high compared to my usual broker. Could this be due to holidays in the us and britain today or am I missing something like do you have generally higher spreads for non-major pairs? For example I opened a 0.5L position for EURAUD which isnt that exotic and immediatley had a drawdown of 20 euro while I only had 3.30 euro drawdown in icmarkets for the same position. Almost the same for another position in EURGBP. The broker review on their website shows normal spreads but obviously just for a few pairs.
  • #1,737
  • May 25, 2020 2:16pm May 25, 2020 2:16pm
Quoting Nvrmd
So I just started my challenge and use the lmax datafeed but spreads are kinda insanely high compared to my usual broker. Could this be due to holidays in the us and britain today or am I missing something like do you have generally higher spreads for non-major pairs? For example I opened a 0.5L position for EURAUD which isnt that exotic and immediatley had a drawdown of 20 euro while I only had 3.30 euro drawdown in icmarkets for the same position. Almost the same for another position in EURGBP. The broker review on their website shows normal spreads...
Mayby to late,but i would go with Admiral markets if that is an option on challenge...
Insanityoing same ting over expecting different results..Einstein
  • #1,738
  • May 25, 2020 2:43pm May 25, 2020 2:43pm
Quoting Nvrmd
So I just started my challenge and use the lmax datafeed but spreads are kinda insanely high compared to my usual broker. Could this be due to holidays in the us and britain today or am I missing something like do you have generally higher spreads for non-major pairs? For example I opened a 0.5L position for EURAUD which isnt that exotic and immediatley had a drawdown of 20 euro while I only had 3.30 euro drawdown in icmarkets for the same position. Almost the same for another position in EURGBP. The broker review on their website shows normal spreads...
if u pass the verification i think u can ask for another broker for funded account
  • #1,739
  • May 25, 2020 3:09pm May 25, 2020 3:09pm
Quoting Nvrmd
So I just started my challenge and use the lmax datafeed but spreads are kinda insanely high compared to my usual broker. Could this be due to holidays in the us and britain today or am I missing something like do you have generally higher spreads for non-major pairs? For example I opened a 0.5L position for EURAUD which isnt that exotic and immediatley had a drawdown of 20 euro while I only had 3.30 euro drawdown in icmarkets for the same position. Almost the same for another position in EURGBP. The broker review on their website shows normal spreads...
probably time of day, i've been trading EJ EU GJ and UJ all day with LMAX feed, spreads have been 0 up to about 1.2 now they are 0.8 up to 5
  • #1,740
  • May 25, 2020 4:32pm May 25, 2020 4:32pm
Well then a 1M funded account does indeed appear possible.

Interesting.

Masterrmind........
Master your Mind then Master your Trades
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