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

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FTMO - For serious traders

  • #1,781
  • May 27, 2020 10:15pm May 27, 2020 10:15pm
Quoting bvdnbroe
Hi everyone, Wanted to reply cause I also took the challenge, 10 days before finish I ended up with 35 dollar in profit so decided to wait it out and restart the challenge cause it seemed to risky to try and chase the target on such a small amount of time. The commission is a real bummer for me actually, I scalped and was able to take quick profits, now it's a different ballgame for me and have to rethink strategy when I will retake it, normally i can restart after tomorrow. This also brought up the question if FTMO was the broker I should choose,...
Smart approach regarding waiting it out, that's the best way to go with such limited time remaining.

Depending on what you trade and your strategy it's a case of going through all the broker offerings and making the best choice from the limited offerings.

I think you have answered your own question.

Masterrmind.......
Master your Mind then Master your Trades
  • #1,782
  • May 27, 2020 10:59pm May 27, 2020 10:59pm
Quoting Swing4Fence
{quote} Nice leweg1! Hoping to cross the finish line into stage 2 as well. 3rd account finally recovered out of a dangerously close $7500 drawdown. {image} {image}
very nice come back though S4F! 200k kind of secured has it been difficult running 3 accounts at once?

Quoting Masterrmind
{quote} The brokerage choice is one thing but if you wanted to use let's say cTrader then the choices really start to dry up. A pity they don't use IC or Pepper. I'm not impressed with current offerings. Masterrmind........
i love cTrader so i do agree with you. such an easy platform with plenty of extras like multiple t/p levels built in amongst other things.
if i get through this challenge and verification im going to have to think long and hard about broker choice
  • #1,783
  • May 27, 2020 11:21pm May 27, 2020 11:21pm
Quoting Masterrmind
{quote} Nice work bringing the DD account back from the brink. Maybe you have mentioned before but in any case are you trading the same strategy across all accounts or is each account being traded with very different strategies? Unless things change drastically I plan to also trade 3 challenges from perhaps July which may have visible TEs. My approach would be 3 separate strategies mostly favouring intraday setups on major pairs. 1 * semi-automated challenge account. 2 * manual challenge accounts. Possibility of staggered first trade open times...
Thank you Masterrmind. Your approach is sound, and should provide diversification across all 3. I made an attempt to trade all 3 similar, however only ended up executing 2 successfully. The 3rd bounced all over the place (still is, but hoping for the best).

Excited and hopeful for a long successful road ahead for all of us here.
  • #1,784
  • May 28, 2020 12:26am May 28, 2020 12:26am
Quoting Swing4Fence
{quote} Thank you Masterrmind. Your approach is sound, and should provide diversification across all 3. I made an attempt to trade all 3 similar, however only ended up executing 2 successfully. The 3rd bounced all over the place (still is, but hoping for the best). Excited and hopeful for a long successful road ahead for all of us here.
Yes indeed.

Masterrmind........
Master your Mind then Master your Trades
  • #1,785
  • May 28, 2020 5:27am May 28, 2020 5:27am
They are ok
All I can say is that they met the agreed terms
If I need help or have question they answer
Transfers are send the day they are requested and are delivered the next day
  • #1,786
  • May 28, 2020 2:11pm May 28, 2020 2:11pm
Good evening

Do you know if FTMO is licensed and/or regulated? And if FTMO needs to be?

thanks
  • #1,787
  • May 29, 2020 1:39pm May 29, 2020 1:39pm
Quoting leweg1
{quote} very nice come back though S4F! 200k kind of secured has it been difficult running 3 accounts at once? {quote}
thanks Leweg1. For the 1st 2 accounts, not bad. But this 3rd account has been up/down/up/down (completely my own fault). Tradecopier may just be the way to go on multiple verification accounts. FTMO will ultimately combine all 3 once funded, so the extra work not too cumbersome, considering the rewards in the end.
  • #1,788
  • May 29, 2020 1:51pm May 29, 2020 1:51pm
Quoting Swing4Fence
{quote} thanks Leweg1. For the 1st 2 accounts, not bad. But this 3rd account has been up/down/up/down (completely my own fault). Tradecopier may just be the way to go on multiple verification accounts. FTMO will ultimately combine all 3 once funded, so the extra work not too cumbersome, considering the rewards in the end.
i know what your going through with up/down/up/down my first week was bloody difficult ended on.3 growth, if you ever need it i use https://forexcopier.com/ this system is awesome and very versatile free aswel!
  • #1,789
  • May 29, 2020 3:12pm May 29, 2020 3:12pm
Quoting leweg1
{quote} if you ever need it i use https://forexcopier.com/ this system is awesome and very versatile free aswel!
cheers!
  • #1,790
  • Edited 6:03pm May 29, 2020 5:49pm | Edited 6:03pm
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  • #1,791
  • May 31, 2020 9:00pm May 31, 2020 9:00pm
Paid for 10K challenge today. Hopefully I'll do well in challenge and then verification. Expecting to take at least 2,3 months as I will be extra careful.
  • #1,792
  • May 31, 2020 10:11pm May 31, 2020 10:11pm
Should just set up an EA on a VPS running 5% draw down and let it ride. When market is coorporating, the target will be hit
Whatever is happening right now has happened before and will happen again.
  • #1,793
  • May 31, 2020 11:14pm May 31, 2020 11:14pm
Quoting mnmnmmnnmnmn
Should just set up an EA on a VPS running 5% draw down and let it ride. When market is coorporating, the target will be hit
Risk Control is the key skill.

Then hitting the target.

VPS is a great idea with an EA that applies and adheres too all of the trading objectives (daily loss, max loss, minimum 10 trades open on separate days, floating PnL).

Verification as per challenge criteria exceed double duration and halve the target.

Question:

How might you handle the account when the market decides not to co-operate ?

Masterrmind.........
Master your Mind then Master your Trades
  • #1,794
  • Jun 1, 2020 4:40am Jun 1, 2020 4:40am
Hello everyone!

Once again there are few posts we wish to address or that are straight-up asking us for clarifications. As I said before, if you have any specific question regarding our rules etc, you can always ask on us directly at [b][font=times new roman][email protected][/font][/b], where we can provide a response in timely manner.


Quoting Mtinifx
{quote} Hi mate Thanks for all the answers. I'm still a little hazy about two things - if you can just reclarify or confirm these facts: 1/ You open a position with maximum leverage and during the trade your account balance dips a dollar or so below the permitted level. Is the trade immediately stopped out and your account closed? And the subscription you have paid is lost? 2/ On the other hand one is very careful and one's stay in the green for 28 days but does not reach the profit target (5% or 10%). One is given a new challenge account for free...

Hello Mtinifx,
You are welcome. I’m happy to clear anything further.
1/ It depends whether your account is a Challenge/Verification or FTMO Account.
On Challenge/Verification account, the trades are not stop and they can continue to further drawdown, but our system records the times and drawdowns and since it is a breach of Max Daily Loss or Max Loss, the account is evaluated as failed without eligibility for refund or new free challenge. If it is on FTMO Account, the positions are closed immediately after our system recognizes breach of the rule to protect our capital from further loses. The trader is informed not to execute any new trades and any new positions are immediately closed.
2/Correct, if all trading objectives are met while account is in some profit, we offer a new Challenge for free. The profit is not carried over, you start with a brand-new account.

Quoting Mtinifx
Thanks guys [IMG]file:///C:/Users/Tomas/AppData/Local/Temp/msohtmlclip1/01/clip_image002.png[/IMG] Well that really means that trading volatile trading pairs like XAUUSD are a out as far as the FTMO challenge is concerned. Looking at the spread which is averaging 12 pips means it's pretty much impossible to trade. Compared to FPmarkets (blue quote) - quite a huge difference![IMG]file:///C:/Users/Tomas/AppData/Local/Temp/msohtmlclip1/01/clip_image004.png[/IMG] {image} {image}

The spreads vary throughout the day. Our FTMO Platform has great spreads during the European session, but the spreads often widen around the time of rollovers, which lasts only for a couple of minutes and takes place at midnight (CET).

Quoting leweg1
{quote} they have made their own feed on gold, look at the suffix and spread, they have fixed their spread to 12 pips where as the normal LMAX gold is around 5-8 pips {image}

Hello Leweg,
Note that we have 0 influence over the instruments offered and the spreads on them, as the feeds are directly from LMAX.


Quoting doji
What interests me is if the FTMO/LMAX quotes (and spreads) are the same during evaluation and once one is funded. As I mentioned in a previous post, I'm a bit wary about a possible conflict of interest when a funded trading program offers its own trading platform since it's not exactly a secret that manipulation can take place (google "MT4 virtual dealer plug-in.") Maybe, the better option would be to not go in-house while doing the evaluation?

Hello Doji,
The account conditions are exactly same in all the stages – Free Trial, Challenge, Verification and FTMO Account. There is no manipulation, but I understand that us saying that probably doesn’t mean a lot to you.

Our reputation is crucial for us and we are in the business for the long term. Therefore, we are in interested in manipulating your results. All pay-outs are processed promptly and if there is a price error, we are always compensating our clients.


Quoting doji
{quote}I believe US traders are required to use the FTMO platform only, something I can't quite understand, since even if funded, they won't be trading a live account anyway. Besides, everyone used to be allowed to choose from the other brokers before the FTMO platform came into the picture.

Due to legal and regulatory limitations, the US citizens can only choose the FTMO platform with LMAX data feed. FTMO is not representing a brokerage company, therefore we cannot open live accounts nor accept deposits. The payment for the evaluation course is considered as a payment for a service. You can find more details here: https://ftmo.com/en/ftmo-platform-with-lmax-datafeed/


Quoting mnmnmmnnmnmn
I was told by someone that they dont allow postions to be carried over the weekends because of the blackswans. Anyone knows about this? If it is true, then it kind of sucks because I trade H4 and D1, sometimes my postions stay alive for weeks. Since there's no time limit for the funded account, thus long term trades makes more sense. Can anyone confirm?

Hi Mn,
It’s true. As we don’t place limitations on position sizes and we need to protect our capital, once your account is in FTMO stage, you have to close your positions prior to any market closure, which is longer than 2 hours. There is an obvious risk of gaps after long market closures and if highly leveraged, the account could suffer a much higher than our allowed 10% risk.


Quoting Ak386
Does anyone know if ftmo allows scalping?

Hello AK,
Yes, we do allow scalping.


Quoting ErreElle
Good evening Do you know if FTMO is licensed and/or regulated? And if FTMO needs to be? thanks

Hello ErreElle,
As we are not a brokerage company, we do not need to meet the same regulation conditions as a normal brokerage companies do.


That is all for this week. Good luck with your trades!
Tomas - FTMO
  • #1,795
  • Jun 1, 2020 9:50am Jun 1, 2020 9:50am
I wanna use this opportunity to say thank you to FTMO for giving me the chance to prove my skill in Forex trading. I just got paid out with $6,879 . I also made a video through my assessment up until my withdrawal: https://bit.ly/2ZTtKoZ . Thanks guys, its such a great idea.
  • #1,796
  • Jun 1, 2020 2:11pm Jun 1, 2020 2:11pm
Quoting jeffreybenz1
I wanna use this opportunity to say thank you to FTMO for giving me the chance to prove my skill in Forex trading. I just got paid out with $6,879 . I also made a video through my assessment up until my withdrawal: https://bit.ly/2ZTtKoZ . Thanks guys, its such a great idea.
Nice promotional video JB! how much they paying you?
  • #1,797
  • Jun 1, 2020 6:00pm Jun 1, 2020 6:00pm
Quoting Mtinifx
{quote} Nice promotional video JB! how much they paying you?
He said it... $6,879
It's never too late to make a bad trade!
  • #1,798
  • Jun 2, 2020 2:55am Jun 2, 2020 2:55am
Thomas,

Thank you for answering my previous questions. I have one more if you dont mind.

I'd like to use the lmax provider with mt5 is this possible? I know on your website it says mt4 only and as far as I can tell admiral markets are the only provider that offers mt5. But I prefer to use the lmax provider.

I saw this - https://www.lmax.com/press-centre/lm...ls-for-brokers

So was hoping it was possible.

thanks
  • #1,799
  • Jun 2, 2020 6:10am Jun 2, 2020 6:10am
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  • #1,800
  • Jun 2, 2020 6:11am Jun 2, 2020 6:11am
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TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
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