FTMO - For serious traders | Page 91 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

AkaMRP FTMO Journey 45 replies

FTMO Challenge.... How to beat....? 28 replies

FTMO Challenge; Could Survived? 41 replies

FTMO Challenge & Max Drawdown Issue 5 replies

Attachments: FTMO - For serious traders
Exit Attachments

FTMO - For serious traders

  • #1,801
  • Jun 4, 2020 3:03am Jun 4, 2020 3:03am
Tomas-ftmo, I understand that it is your business and your rules, but is there any special reason behind the "only" 4 weeks with the Challenge?

Thanks
  • #1,802
  • Jun 4, 2020 3:20am Jun 4, 2020 3:20am
Quoting Casiopea
Tomas-ftmo, I understand that it is your business and your rules, but is there any special reason behind the "only" 4 weeks with the Challenge? Thanks
From their website:

"If you manage NOT to violate any of the Trading Objectives (regardless of whether that is Challenge or Verification) and your final account balance being positive at the end of the trading duration, with all positions being closed, you will receive a new Challenge free of charge"
  • #1,803
  • Jun 4, 2020 5:22am Jun 4, 2020 5:22am
Quoting Mtinifx
{quote} From their website: "If you manage NOT to violate any of the Trading Objectives (regardless of whether that is Challenge or Verification) and your final account balance being positive at the end of the trading duration, with all positions being closed, you will receive a new Challenge free of charge"
In my view, to achieve a 5% or even 10% target in 28 days is not unreasonable with 1:100 leverage. I suppose it's really a test of skill isn't it? They are only looking for the more experienced, "pro" traders to trade their money which is understandable
  • #1,804
  • Jun 4, 2020 5:32am Jun 4, 2020 5:32am
Quoting leweg1
{quote} for 100k, your challenge is to get 10% in 30 days (20 trading days), the verification is to get 5% in 60 days (40 trading days)
I hope you make it through mate.

Not sure how many more days you have to go but it must be getting close.

The last few weeks have been interesting to say the least.

Masterrmind........
Master your Mind then Master your Trades
  • #1,805
  • Jun 4, 2020 6:03am Jun 4, 2020 6:03am
Quoting Mtinifx
{quote} In my view, to achieve a 5% or even 10% target in 28 days is not unreasonable with 1:100 leverage. I suppose it's really a test of skill isn't it? They are only looking for the more experienced, "pro" traders to trade their money which is understandable
Yes and 5% to 10% on 10k is not really motivational however, the same monthly gain on 300,000 now that's motivational to almost anyone.

0.7*10/100*10 000 = 700.

0.7*10/100*300 000 = 21 000.

Quite a difference considering that identical strategies could be traded on both accounts.

Several posts back they said that a 1M funded account was possible and would take 16 months or so to get it to about 600 000 and then I believe another 2 years to get it to the magic million, although they hinted towards faster progression based on high trading merit and at their discretion.

Imagine if your 70% share of the profit for the month worked out to be 10% of 1 000 000.

Hard to imagine making 100 000 per month.

Not for some traders though.

You got it right when you said Pro Traders.

Good trading,

Masterrmind........
Master your Mind then Master your Trades
  • #1,806
  • Jun 4, 2020 8:42am Jun 4, 2020 8:42am
Quoting Masterrmind
{quote} Yes and 5% to 10% on 10k is not really motivational however, the same monthly gain on 300,000 now that's motivational to almost anyone. 0.7*10/100*10 000 = 700. 0.7*10/100*300 000 = 21 000. Quite a difference considering that identical strategies could be traded on both accounts. Several posts back they said that a 1M funded account was possible and would take 16 months or so to get it to about 600 000 and then I believe another 2 years to get it to the magic million, although they hinted towards faster progression based on high trading...
So true!

Well I've decided to give the trial account a go again but this time with due care and attention!!

Really, one could do 5% in a day but I suppose that is a bit dangerous Anyway I'm up and running and lets see how far we can get in a week. If it looks good by next week I'll definitely go for the 50k challenge. The Lmax spread on Gold is also very acceptable now
  • #1,807
  • Jun 4, 2020 9:47am Jun 4, 2020 9:47am
Quoting Masterrmind
{quote} I hope you make it through mate. Not sure how many more days you have to go but it must be getting close. The last few weeks have been interesting to say the least. Masterrmind........
Thanks mate, i have until 16th to get through if not, if i'm still in profit i'll get 1 more go. But defiantly has been interesting has been an interesting month a lot of up's and downs at least puts my strategy to the extreme test 4% needed in a week fingers crossed
  • #1,808
  • Jun 4, 2020 10:59am Jun 4, 2020 10:59am
Quoting Masterrmind
{quote} The last few weeks have been interesting to say the least. Masterrmind........
So true. Glad I’m not the only one feeling this.

Leweg1 you’ve got this mate, you’ll pass.
Looks like your risk control is solid on these tougher stretches.
  • #1,809
  • Jun 4, 2020 11:34am Jun 4, 2020 11:34am
Quoting Swing4Fence
{quote} So true. Glad I’m not the only one feeling this. Leweg1 you’ve got this mate, you’ll pass. Looks like your risk control is solid on these tougher stretches.
thanks swing, needed some positivity respect!
  • #1,810
  • Jun 4, 2020 2:33pm Jun 4, 2020 2:33pm
Quoting leweg1
{quote} thanks swing, needed some positivity respect!
You're doing fine but don't really know why you paid the guys an extra 200 euros - you never went anywhere near the 5% loss limit did you? You would have already achieved the target and not far away from starting to make real money!

Anyway you'll get your money back eventually of course - only another 3.8% to go
  • #1,811
  • Jun 4, 2020 11:43pm Jun 4, 2020 11:43pm
Quoting Mtinifx
{quote} You're doing fine but don't really know why you paid the guys an extra 200 euros - you never went anywhere near the 5% loss limit did you? You would have already achieved the target and not far away from starting to make real money! Anyway you'll get your money back eventually of course - only another 3.8% to go
thanks MT, my max daily loss has been $1430, if i was going for 50k my risk would be half of what it is now so i would have only earn't 3.1% on 50K if my thinking/calculation is right.

But your on the up mate 4%
  • #1,812
  • Edited 4:12am Jun 5, 2020 3:49am | Edited 4:12am
Quoting leweg1
{quote} thanks MT, my max daily loss has been $1430, if i was going for 50k my risk would be half of what it is now so i would have only earn't 3.1% on 50K if my thinking/calculation is right. But your on the up mate 4%
Thanks - of course trading demo with no pressure whatsoever is very easy indeed!

Oh sorry yes - I'm not reading the rules. On 100k account there is no "aggressive" option. And that is what you went for and the profit target is 10k. Are you sure though that you would not have had the available leverage on a 50k account to make the same trades which you entered in order to make the 6k which you've made so far? On the trial account yesterday I had more then enough leverage in order to make that 4% return. Of course I'm not sure if the trial account conditions accurately reflect the challenge account conditions! And of course when you get to the real money account, the 100k account leverage/margin/loss parameters is a definite advantage over the 50k option

The one thing I do find ridiculous is that they charge €540 for the 50k "aggressive" option - so one might as well pay exactly the same amount and get the 100k account which is exactly what you did!

I have definitely decided to join you but €540 is way over my budget I'm afraid! €345 is just about reachable. I think the only question I have left which I would like answered is: if one starts with a 50k account and gets verified, does one have to go through the whole process again if one wants another 50k account? I suppose one does
  • #1,813
  • Jun 5, 2020 4:23am Jun 5, 2020 4:23am
Quoting Mtinifx
{quote} I think the only question I have left which I would like answered is: if one starts with a 50k account and gets verified, does one have to go through the whole process again if one wants another 50k account? I suppose one does
ya you do - I had been debating the same thing ... 50k or 100k.
  • #1,814
  • Jun 5, 2020 4:29am Jun 5, 2020 4:29am
Guys if you have multiple trades open and you're worried about exceeding your limits it's good to be able to close them all instantly. Also sometimes it's nice to be able to place instant SL and TP levels. These scripts I've attached I have found very useful in this regard! You can just click on them or drag on to your chart.
If you use them don't forget to have your "autoTrading" button depressed at all times otherwise they won't work.
Attached File(s)
File Type: mq4 Modify all OPENnPENDING orders to Same SL TP EA.mq4   5 KB | 253 downloads
File Type: mq4 Close all open and pending orders.mq4   3 KB | 271 downloads
File Type: mq4 Close All OPEN Orders.mq4   2 KB | 280 downloads
  • #1,815
  • Jun 5, 2020 9:05am Jun 5, 2020 9:05am
Quoting Mtinifx
Guys if you have multiple trades open and you're worried about exceeding your limits it's good to be able to close them all instantly. Also sometimes it's nice to be able to place instant SL and TP levels. These scripts I've attached I have found very useful in this regard! You can just click on them or drag on to your chart. If you use them don't forget to have your "autoTrading" button depressed at all times otherwise they won't work. {file} {file} {file}
ahh thanks - I dont have much experience with mt4 ... well about 2.5 weeks and find it quite archaic but its what is used. Did you figure out what you are going to do 50k or 100k? ...
  • #1,816
  • Jun 5, 2020 9:28am Jun 5, 2020 9:28am
Quoting Mtinifx
Guys if you have multiple trades open and you're worried about exceeding your limits it's good to be able to close them all instantly. Also sometimes it's nice to be able to place instant SL and TP levels. These scripts I've attached I have found very useful in this regard! You can just click on them or drag on to your chart. If you use them don't forget to have your "autoTrading" button depressed at all times otherwise they won't work. {file} {file} {file}
I dont think you can rely on doing 10% in two days with the challenge....I would atleast do 3 weeks more on demo with the strategie you are to use.....I am not trying to talk you down,but like me you have gotten into some serius trubble and almost blown up several times when trying to do 5% a day on MRDFX`S challenge.....The first rule to follow is to cut the loosers as fast as possible and that takes a lot of disipline......I had to start using a hidden stoploss so i am not able to move it cause i am very bad at taking losses and even i widened my stop for a coupple of trades today i have 8 cons...Winning days now and starting to feel more confident...But of course all up to you and good luck on your endevoar to be a prop trader.....
Insanityoing same ting over expecting different results..Einstein
  • #1,817
  • Jun 5, 2020 9:40am Jun 5, 2020 9:40am
Quoting Mtinifx
{quote} In my view, to achieve a 5% or even 10% target in 28 days is not unreasonable with 1:100 leverage. I suppose it's really a test of skill isn't it? They are only looking for the more experienced, "pro" traders to trade their money which is understandable

in my last try, 1% loss each trade, 1:2 RR. I made 17 trades and i beat the target in three days. this is the second time.

all it needs is a half decent strat with a good RR. and you'll be fine.
Whatever is happening right now has happened before and will happen again.
  • #1,818
  • Jun 5, 2020 11:07am Jun 5, 2020 11:07am
Quoting mnmnmmnnmnmn
{quote} in my last try, 1% loss each trade, 1:2 RR. I made 17 trades and i beat the target in three days. this is the second time. all it needs is a half decent strat with a good RR. and you'll be fine.
Well done! Yes it's not too difficult and 1:2 RR is a great target = 3 days is possible for sure
  • #1,819
  • Edited 11:45am Jun 5, 2020 11:31am | Edited 11:45am
Quoting FXsniper111
{quote} I dont think you can rely on doing 10% in two days with the challenge....I would atleast do 3 weeks more on demo with the strategie you are to use.....I am not trying to talk you down,but like me you have gotten into some serius trubble and almost blown up several times when trying to do 5% a day on MRDFX`S challenge.....The first rule to follow is to cut the loosers as fast as possible and that takes a lot of disipline......I had to start using a hidden stoploss so i am not able to move it cause i am very bad at taking losses and even i...
You're right about MRDX's challenge and we've all blown our accounts on that endeavour right? The problem with all of us has been attempting to overtrade small 100 dollar accounts which simply doesn't work. Glad to hear you're finding some consistency at last.

The problem with me has simply been trying to make big money using very small money. It simply doesn't work and it's always a recipe for disaster. Of course I'm not going to try to do the challenge in 2 or 3 days! That would be dangerous but having the margin and and a decent account balance is the hugh difference plus trading someone else's money instead of the stress of your own! A $5000 loss is extremely big to someone who balks at a $ 500 loss I can assure you.

Anyway the proof will be in the pudding. I've been trading for many years and I know exactly what the problem is. Always trying for too much with too little!! But thanks for the advice

I have removed my trial TE - just wanted to prove to myself what was possible! Gives me the encouragement to give this a go. Haven't yet decided on what account size yet
  • #1,820
  • Jun 5, 2020 11:45am Jun 5, 2020 11:45am
Quoting Mtinifx
{quote} I have removed my trial TE - just wanted to prove to myself what was possible! Gives me the encouragement to give this a go. Haven't yet decided on what account size yet
After i heard that if you only have the account postive at the end they give you a new chance.....If i am ever to try i will go for 100k at once i mean its a coupple of hundreds dollars from 50 to 100k not even 300 dollar different and if you make say 5% a month the difference is from 2500 to 5000 dollars in one month....
Insanityoing same ting over expecting different results..Einstein
8 traders viewing now