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FTMO - For serious traders

  • #1,861
  • Jun 8, 2020 10:43am Jun 8, 2020 10:43am
Quoting akamrp
Hi guys, Can I get some help with this please. {image} I have uploaded a trade from today, I would of thought I would have more profit from my trades? 123.373 - 123.158 = 0.215 which is 21.5 pips? and 5 lots would make this a profit of 1075? Am I calculating this wrong?
Is your base currency maybe in GBP or EUR?
Commision?


Hard to tell based on your image.
  • #1,862
  • Jun 8, 2020 10:45am Jun 8, 2020 10:45am
Quoting akamrp
Hi guys, Can I get some help with this please. {image} I have uploaded a trade from today, I would of thought I would have more profit from my trades? 123.373 - 123.158 = 0.215 which is 21.5 pips? and 5 lots would make this a profit of 1075? Am I calculating this wrong?
I think they calculate as 10lot = 1lot Judy like spread betting
  • #1,863
  • Jun 8, 2020 11:21am Jun 8, 2020 11:21am
Quoting akamrp
Hi guys, Can I get some help with this please. {image} I have uploaded a trade from today, I would of thought I would have more profit from my trades? 123.373 - 123.158 = 0.215 which is 21.5 pips? and 5 lots would make this a profit of 1075? Am I calculating this wrong?
No, from doing some testing, if you're Lmax server then something is wrong.

Are you using Lmax (fftrader server) or are you using another broker? Each broker has different pip values as far as I know.
  • #1,864
  • Jun 8, 2020 11:25am Jun 8, 2020 11:25am
Quoting akamrp
Hi guys, Can I get some help with this please. {image} I have uploaded a trade from today, I would of thought I would have more profit from my trades? 123.373 - 123.158 = 0.215 which is 21.5 pips? and 5 lots would make this a profit of 1075? Am I calculating this wrong?
Hello akamrp, seems to be correct.
https://www.zulutrade.com/forex-tools/pip-calculator
  • #1,865
  • Jun 8, 2020 11:33am Jun 8, 2020 11:33am
Quoting akamrp
Hi guys, Can I get some help with this please. {image} I have uploaded a trade from today, I would of thought I would have more profit from my trades? 123.373 - 123.158 = 0.215 which is 21.5 pips? and 5 lots would make this a profit of 1075? Am I calculating this wrong?
Hi Akamrp,

That seems right. 1 pip for JPY pair is not equivalent to $10 (1 standard lot). You can try to use pip calculator to get rough value of how much it is. It is around 9.1xxx. So multiply 21.5 pips get roughly the same amount of profit as shown.
  • #1,866
  • Jun 8, 2020 11:39am Jun 8, 2020 11:39am
Well I've got it at around .97 a pip! here are actual trades (below): 8 pips x .97 = 77.76 minus the $3.00 commission
Attached Image (click to enlarge)
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  • #1,867
  • Jun 8, 2020 4:25pm Jun 8, 2020 4:25pm
Quoting c2v4l
{quote} Hi Akamrp, That seems right. 1 pip for JPY pair is not equivalent to $10 (1 standard lot). You can try to use pip calculator to get rough value of how much it is. It is around 9.1xxx. So multiply 21.5 pips get roughly the same amount of profit as shown.

Ok, Thanks for clarifying. Also thanks to everyone else who answered. I am just use to spreadbetting here 1 pip is £1 or whatever you decide to put on it.

I have just started my FTMO challenge today, I am off to a great start at the moment hopefully I can finish it off soon and then just wait it out for the next stage.
  • #1,868
  • Jun 8, 2020 4:27pm Jun 8, 2020 4:27pm
Quoting msiamd
{quote} Is your base currency maybe in GBP or EUR? Commision? Hard to tell based on your image.

No commision, also there wasn't a GBP option I just chose USD
  • #1,869
  • Jun 8, 2020 11:26pm Jun 8, 2020 11:26pm
Leweg1 that win streak You are almost there mate!
  • #1,870
  • Jun 9, 2020 12:58am Jun 9, 2020 12:58am
Quoting Swing4Fence
Leweg1 that win streak You are almost there mate!
haha thanks mate, fingers crossed 1 more trade
  • #1,871
  • Jun 9, 2020 1:41am Jun 9, 2020 1:41am
Completed now await for them to verify and send me the verification account. Thanks for all the support guys!!
Attached Image (click to enlarge)
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  • #1,872
  • Jun 9, 2020 2:18am Jun 9, 2020 2:18am
Hello everyone!

It seems like we have cleared up most things as there are not so many questions on the forum this time. As always, I hope you have had a great week both in your trading and personal lives.


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:
Quoting jeffreybenz1
https://bit.ly/2ZTtKoZ . Thanks guys, its such a great idea.

Hello Jeffrey,
Congratulations on your first FTMO trading month, you achieved a great profit!
Keep it up, I imagine this must be quite a life changing money in your country.

Quoting djxput
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...


Hi Djxput,
You are welcome, at this time, we are in late stages of cTrader support infrastructure development and testing for our FTMO Platform and we would like to roll it out within a next few months.
MT5 implementation is being prepared in parallel to that and we are hoping to offer MT5 within a couple weeks. Note this is our internal target and in reality, it might be different if we encounter any unforeseen issues.

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

Hello Casiopea,
Thank you for your question. This rule is set as we tend to look for intra-day traders, who ensure that our capital is allocated more effectively.

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...

Hello Mastermind,
Just want to confirm that your understanding is correct, although the speed is assuming the best-case scenario. In reality, it’s quite likely that a trader would experience some periods during which he might not be eligible for scaling and thus reaching the magic million is likely to take a bit longer.
We actually think that for truly professional traders our scaling criteria are quite within a reach and as said previously, larger capital could possibly be offered at discretion.


Quoting Mtinifx
{quote} 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...


Hello Mtinifx,
The conditions of the accounts are the same – be it Free Trial, Challenge, Verification or FTMO stage.
As for the cost of the aggressive 50k Challenge, it is the same price as the normal risk setup 100k Challenge as the risk involved is the same for our company. In both cases, the Maximum Daily Loss and the Maximum loss are the same. Some traders prefer to trade with higher drawdown limits and the aggressive Challenge was made to accommodate these traders.
If you already have $50k FTMO account and want to increase your capital fast (without the option of scaling), you would need to start another Challenge and progress it to the FTMO stage as you say.

Quoting wansiman
{quote} "The fee is very important" I know, that's how FTMO makes its money Demanding 10 % in 21 days of trading isn't trading its called gambling. I think 99 % of traders wil fail and that's how you make money.


Hello Wansiman, (answered by Otakar)
The required profit target is the same as the maximum allowed loss. If you do not reach the profit target and your account is positive with all other rules passed, you will get a free repetition of the Challenge, every single time. I think it is fair.

I have already said it, but the success rate is a lot higher than 1%. In my opinion, the success rate of other traders should not be your concern. Just take the Free Trial several times and once you can consistently pass it, go for the Challenge. If you think that you cannot meet our Trading Objectives, then we are not forcing you to join.


Quoting doji
I'm wondering: do prop firms allow their funded traders to join other prop firms? Is there a stipulation in FTMO's contract, for example, that once funded, trader John can't join 5%ers (and vice versa)? And is using a signal service (as mentioned a few posts back) not considered a breach of the rules, since in effect, someone else is trading on your behalf? Or is it a case of "don't ask, don't tell" under those circumstances?

Hello Doji,
We do not care whether you trade with another prop firm or not. We actually have several traders who trade in-house in some other prop-firms or they run their own firms.
As for the signals. It is not a direct breach of our rules. As we aim to have risks to our capital diversified, we do not allow using the same strategy on more than combined $300k capital (prior to scaling). If more people were using the exact same signals, our system would notice that and we would be contacting the traders to explain and adjust their trading.


Good luck with this week’s trades everyone!
Tomas - FTMO
  • #1,873
  • Jun 9, 2020 10:14am Jun 9, 2020 10:14am
Hey guys,

Just wanted to double check, I have passed the requirements for the first part of the challenge.

Am I correct that now I can just wait for 10 days to pass and do not have to make any trades?

Attached Image (click to enlarge)
Click to Enlarge Name: ftmo 2.png Size: 32 KB
  • #1,874
  • Jun 9, 2020 10:48am Jun 9, 2020 10:48am
Quoting akamrp
Hey guys, Just wanted to double check, I have passed the requirements for the first part of the challenge. Am I correct that now I can just wait for 10 days to pass and do not have to make any trades? {image}
10 trading days, at least 1 a day (open/close)..
  • #1,875
  • Jun 9, 2020 12:35pm Jun 9, 2020 12:35pm
Quoting akamrp
Hey guys, Just wanted to double check, I have passed the requirements for the first part of the challenge. Am I correct that now I can just wait for 10 days to pass and do not have to make any trades? {image}
Well done.

You have to take a trade every day for 10 days minimum even if its an open then close a 0.01 lot trade.

Did you use your Simple strategies?
  • #1,876
  • Jun 9, 2020 1:23pm Jun 9, 2020 1:23pm
Quoting Redsub
{quote} Well done. You have to take a trade every day for 10 days minimum even if its an open then close a 0.01 lot trade. Did you use your Simple strategies?

Ok, Thanks. How long do they have to be open for? Can I just open and close straight away?

I did use my simple strategy for Aud/USD which worked for me today, although I did stop the trade early as I have reached my target. Have you read that one? That strategy i still going strong.
  • #1,877
  • Jun 9, 2020 2:02pm Jun 9, 2020 2:02pm
Quoting akamrp
{quote} Ok, Thanks. How long do they have to be open for? Can I just open and close straight away? I did use my simple strategy for Aud/USD which worked for me today, although I did stop the trade early as I have reached my target. Have you read that one? That strategy i still going strong.

yes open close straight away just check you Client console make sure your Result has ticket up by one.


Looking now at Aud/usd, not a clear setup to me at the moment. might have to demo it first.
  • #1,878
  • Jun 10, 2020 10:11am Jun 10, 2020 10:11am
Quoting akamrp
Hey guys, Just wanted to double check, I have passed the requirements for the first part of the challenge. Am I correct that now I can just wait for 10 days to pass and do not have to make any trades? {image}
Hi Akamrp,

Congrats! You will need to open at least 1 trade per day for the next 8 days to hit the 10 minimum trading days objective. I would suggest trading using your usual strategy but with a much lower lot sizing. In my case, instead of using 0.20 lot as per normal, I would trade with 0.02 lot now.
  • #1,879
  • Jun 10, 2020 10:44am Jun 10, 2020 10:44am
Quoting akamrp
Hey guys, Just wanted to double check, I have passed the requirements for the first part of the challenge. Am I correct that now I can just wait for 10 days to pass and do not have to make any trades? {image}
You are my idol, what a profitable strategy, I hope that when it is not in profit, it knows how to close.
Be happy, friendly, humble and winner!!
  • #1,880
  • Jun 10, 2020 11:06am Jun 10, 2020 11:06am
Quoting Redsub
{quote} Well done. You have to take a trade every day for 10 days minimum even if its an open then close a 0.01 lot trade. Did you use your Simple strategies?
Are you sure? Where does it say that in the rules?
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