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FTMO - For serious traders

  • #1,961
  • Jun 17, 2020 6:32am Jun 17, 2020 6:32am
I passed my first free trial today. Really excited because most stats are similar to my backtests but outperformed some other and maybe it was a bit lucky. Gonna be repeating it at least one more time before taking the challenge


https://ftmo.com/en/metrix/2090164171/?sharer=c00402b40
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  • #1,962
  • Jun 17, 2020 8:52am Jun 17, 2020 8:52am
Reporting back:

Although it took some time for research, Ftmo delivered and made the proper correction on my account due to server errors. All along, their service has been on point & honest. I believe capacity may have caused delay, but in the end they came through, and made it right.
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  • #1,963
  • Jun 17, 2020 11:48am Jun 17, 2020 11:48am
Quoting kokeiro
I passed my first free trial today. Really excited because most stats are similar to my backtests but outperformed some other and maybe it was a bit lucky. Gonna be repeating it at least one more time before taking the challenge https://ftmo.com/en/metrix/2090164171/?sharer=c00402b40 {image}
Congrats!
  • #1,964
  • Jun 17, 2020 11:49am Jun 17, 2020 11:49am
Quoting Swing4Fence
Reporting back: Although it took some time for research, Ftmo delivered and made the proper correction on my account due to server errors. All along, their service has been on point & honest. I believe capacity may have caused delay, but in the end they came through, and made it right. {image}
Thats good to hear. Did you merge your 3 accounts into one in the end?
  • #1,965
  • Jun 17, 2020 3:31pm Jun 17, 2020 3:31pm
Quoting Swing4Fence
Reporting back: Although it took some time for research, Ftmo delivered and made the proper correction on my account due to server errors. All along, their service has been on point & honest. I believe capacity may have caused delay, but in the end they came through, and made it right. {image}

Lucky you. They denied my claim stating the server issue was fixed already when i opened my trades even though i had video recording of it. Now a second investigation has been launched into 5 specific trades that couldn't be closed for profit due to the lag. I have been trying to get someone from head support to call me because its been on going emails and not a single move in any direction. So sick and tired of this. They kicked me from my live already because i went over 100$ DD. If they refund me even one of those 5 positions i would have access back to the live but i guess they genuinely don't want to do that. I don't understand it anymore im pretty much giving up. I thought they would do the right thing as everyone told me they are super good in terms of communication but i have yet to see it. Waiting for second result on investigation will keep you guys posted,
  • #1,966
  • Jun 17, 2020 3:47pm Jun 17, 2020 3:47pm
Quoting maahome
{quote} You may want to check with FTMO - I seem to recall reading that a hedged trade does not offset the daily loss (I may be wrong but better to be safe than sorry). Cheers maahome
Where did you see that?

From faq's:
Your trading style is completely up to you. We have no reasons for limiting or restricting your trading strategy, whether it’s discretionary trading, hedging, algorithmic trading, EAs, etc
  • #1,967
  • Jun 17, 2020 4:15pm Jun 17, 2020 4:15pm
Quoting renminbi
{quote} I've been trying to reach their support for the past few days to ask some clarifying questions. They're just not responding. I gave up already because with this type of customer support, it would be a nightmare if I were dealing with a serious issue. I'm happy to say I never signed up with them.
\

Lol imagine doing the challenge verification having a live for a week and server issues and they blame you. Imagine ARGUING with them for your money you deserver because of server issues. They tell me we won't kick you and they do. Then waiting DAYS on end for the "investigations" to be complete only to say yeah its your fault you opened trades after server issues. WHY CAN'T YOU TELL CLIENTS THERE WERE SERVER ISSUES. So then instead of refunding the 5 trades that i have VIDEO EVIDENCE on that i couldn't take profits im still waiting for a phone call meeting or even a email from them. Its honestly ridiculous.
  • #1,968
  • Jun 17, 2020 7:50pm Jun 17, 2020 7:50pm
Quoting Zuke
{quote} Thats good to hear. Did you merge your 3 accounts into one in the end?
Only 1 official “live” account now passed, after 10th trading day is met. Need to get 2nd out of DD, and the 3rd across finish line.

My understanding (might be wrong) is we can merge only live accounts ie passed Challenge & Verification.
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  • #1,969
  • Edited 8:26pm Jun 17, 2020 8:11pm | Edited 8:26pm
To anyone who has been caught out by the 'Maximum Daily Loss'.

There is a distinct discrepancy between FTMO guidelines and actual Daily Reset Time for daily loss. I have alerted them to this twice now, but they have not corrected it.

In a previous challenge, I was caught out by this and maybe thousands of others may have been also. I thought my daily loss had been reset, as per their guidelines and proceeded to trade. See guideline text below, but in reality the 'Maximum Daily Loss' resets one hour later at CET time, one hour after CE(S)T time.
So your account balance can increase (depending on challenge balance) anywhere from $499, $1249, $4999 or $ $9999, if you allow a CET/CEST time buffer to allow for this ftmo error

As you can see in my screen grab below taken today, my 'Maximum Daily Loss will be reset in 23:38:24 hrs:mins:secs, so eludes to it has been reset, but CET 12:00 had not yet been reached, and my 'Maximum Daily Loss' was to actually be reset at CET time 39mins 30 seconds later.
One could argue, why is a trader at high risk during this period? Well it is a challenge, isn't it, and has been paid for as such, and no astute trader would place normally place themselves at such high risk.

Now I don't know how many of you have been caught during this period, with spread widening or any method that caused your 'Maximum Daily Loss' to challenge to fail during this FTMO 'gotcha hour', but in my opinion this leaves ftmo wide open to compensation payout to anyone caught out as a result. I would invite any suggestions to be corrected by ftmo, but this is quite clear.
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My comments are not to be taken as trading advice, not a financial advisor
  • #1,970
  • Jun 17, 2020 11:43pm Jun 17, 2020 11:43pm
The FTMO website is denying me access. it claims my ISP is suspicious but i have been using this ISP on several high security websites without any issues.

i have messaged them on this but can anyone relate to this .
  • #1,971
  • Jun 18, 2020 2:12am Jun 18, 2020 2:12am
Quoting cogs
To anyone who has been caught out by the 'Maximum Daily Loss'. There is a distinct discrepancy between FTMO guidelines and actual Daily Reset Time for daily loss. I have alerted them to this twice now, but they have not corrected it. In a previous challenge, I was caught out by this and maybe thousands of others may have been also. I thought my daily loss had been reset, as per their guidelines and proceeded to trade. See guideline text below, but in reality the 'Maximum Daily Loss' resets one hour later at CET time, one hour after CE(S)T time....
I know this is a challenge, regardless of time limits for daily loss, why bother getting closer to the limits.
Why not set up a personal daily loss limits at 3 or 4 %.
5% is way too big buffering for any strategy. Yet we are confusing with stupidity vs challenge.
on a postive roll...
  • #1,972
  • Jun 18, 2020 5:57am Jun 18, 2020 5:57am
Quoting cogs
To anyone who has been caught out by the 'Maximum Daily Loss'. There is a distinct discrepancy between FTMO guidelines and actual Daily Reset Time for daily loss. I have alerted them to this twice now, but they have not corrected it. In a previous challenge, I was caught out by this and maybe thousands of others may have been also. I thought my daily loss had been reset, as per their guidelines and proceeded to trade. See guideline text below, but in reality the 'Maximum Daily Loss' resets one hour later at CET time, one hour after CE(S)T time....
I was a bit confused also; I thought it might reset at 12pm german time (ya my made up words), but it appears to reset at 12pm UK time. I saw this via the account matrix of my account and this is how I felt more 'sure' that I could trade comfortably. IMO its best to look there for all things; although your max loss or max daily loss wont be updated until you close a trade but can still be affected with open positions.
  • #1,973
  • Jun 18, 2020 6:52am Jun 18, 2020 6:52am
Understanding the objectives become a challenge, let alone trading...
on a postive roll...
  • #1,974
  • Jun 18, 2020 7:17am Jun 18, 2020 7:17am
Quoting Swing4Fence
{quote} Only 1 official “live” account now passed, after 10th trading day is met. Need to get 2nd out of DD, and the 3rd across finish line. My understanding (might be wrong) is we can merge only live accounts ie passed Challenge & Verification. {image}
Very good going....Yes, thinking about it now you can only merge live accounts.

Keep up the good work mate!
  • #1,975
  • Jun 18, 2020 7:22am Jun 18, 2020 7:22am
Why to merge accounts? Risk wise it is better to treat each account separate. Each 100K account has 5K daily loss limit. Most of people it is more than enough per day. Also if you have 3 separate accounts you can withdraw every 10 day of the month instead of one day.
  • #1,976
  • Jun 18, 2020 11:18am Jun 18, 2020 11:18am
Quoting sampat
Why to merge accounts? Risk wise it is better to treat each account separate. Each 100K account has 5K daily loss limit. Most of people it is more than enough per day. Also if you have 3 separate accounts you can withdraw every 10 day of the month instead of one day.
hmm I guess people wanted to save the work and perhaps easier to figure out r/r ratio for account ... but I get where you are coming from. I think there is one guy that wanted to combine 2 of them and leave 1 separate either way.
  • #1,977
  • Jun 18, 2020 1:24pm Jun 18, 2020 1:24pm
Well I'm just waiting for my challenge account details and I'm on my way. Wish I could do 3 but already I'm on bread and water for the rest of the month!
  • #1,978
  • Jun 18, 2020 2:03pm Jun 18, 2020 2:03pm
Quoting djxput
{quote} hmm I guess people wanted to save the work and perhaps easier to figure out r/r ratio for account ... but I get where you are coming from. I think there is one guy that wanted to combine 2 of them and leave 1 separate either way.
Both options have pros and cons, if you lose a account you still have 2,on the other hand combined can let you trade really conservative and still make some good money... Admit I like the idea of get a payout every 10 days.... Hmm food for thought...

Goodluck to everyone trading for ftmo
  • #1,979
  • Jun 18, 2020 3:02pm Jun 18, 2020 3:02pm
Quoting Mtinifx
Well I'm just waiting for my challenge account details and I'm on my way. Wish I could do 3 but already I'm on bread and water for the rest of the month!
At least you have bread and not just instant-noodles
It's never too late to make a bad trade!
  • #1,980
  • Jun 18, 2020 3:31pm Jun 18, 2020 3:31pm
Quoting sampat
Why to merge accounts? Risk wise it is better to treat each account separate. Each 100K account has 5K daily loss limit. Most of people it is more than enough per day. Also if you have 3 separate accounts you can withdraw every 10 day of the month instead of one day.
Very good point on getting paid out every 10 days. I guess that with a good trade copier, one doesn't need to merge the accounts.
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