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FTMO - For serious traders

  • #2,041
  • Jun 25, 2020 1:31am Jun 25, 2020 1:31am
Quoting Mtinifx
{quote} Sorry I should be reading all your old posts right? You said above: "since I would not trade my own accounts on the vast majority of them." Which sounded like you are using someone else to trade your accounts. My apologies if I read that wrong! Anyway good luck to you Mastermind when you do eventually get going. Trading 3 accounts is going to be fun. I have enough problems trading one!! I think showing a TE is entirely up to the trader. No one should feel under pressure to display one. If you want...
I just meant that for my other retail FX accounts I would trade with different broker's such as ICMarkets, Pepper, Fusion and many others but not the ones they have listed currently.

Three accounts will be interesting especially under the current world conditions ... whipsaw PA.

Yes I prefer to see TEs as they tend to keep it real but up to the trader of course.

As for the funded account perhaps a different matter.

All the very best with your trading.

Masterrmind........
Master your Mind then Master your Trades
  • #2,042
  • Jun 25, 2020 6:18am Jun 25, 2020 6:18am
Applied for 50k challenge, unable to trade as there were trades running before i execute my first trade.
My ID has been assigned for some one else as well some clerical mistake i think.
Sent 3 emails, waiting for response.
life sucks!!
on a postive roll...
  • #2,043
  • Jun 25, 2020 9:22am Jun 25, 2020 9:22am
FTMO I ask for help for us new ones, we are trying to get the drawdown very low, we ask you to help with the demo accounts, we want a new demo account to be started every 5 days.
10 days is a long time for most of us who can burn an account in 1, 2 or 3 days and we have to wait 10 days to open a new demo account.
In previous days, Otakar already said that he would analyze it.
Does any of this group agree with me?
Be happy, friendly, humble and winner!!
  • #2,044
  • Jun 25, 2020 10:14am Jun 25, 2020 10:14am
Quoting Masterrmind
{quote} Choice of broker from those listed is something I still have to consider. Not one of them really stands out as being far better than the others .... mediocre across the board at best. I certainly appreciate traders commentary and experiences since I would not trade my own accounts on the vast majority of them. A case of picking something. Masterrmind........
Mediocre at best. You said it nicely. I would say they are below average of retail brokers. Some are unstable, some have bad execution and some offer high spreads. Every one of them is problematic in some way.
I understand that FTMO had to replace IC Markets in a hurry and FTMO LMAX was rushed with problems. But few months have passed and it seems to be still unstable.
I agree that if I had to open my personal account it would not be with any of the brokers on the list. IC Markets is not an option coz it has unstable servers too. And adding Axiory option is no better. I also think that we could come up with at least 5 good brokers that are better then the ones on offer.

I'm thinking out loud. Could be the reason that there are no good brokers coz they do not want to agree to 'weird' demo/live trading arrangement FTMO came up with?

2 Questions for FTMO:
A) There are definitely much better brokers out there than the ones you offer. What is the reason that you haven't managed to get them on board? Have you talked to them and they rejected your demo/live trading setup or have you even tried to find better brokers?
B) What is the real reason you decided for 'weird' demo/live trading setup that no other prop firm uses? Why for all other prop firms giving live funded accounts to traders is perfectly fine but for you it isn't?
  • #2,045
  • Jun 25, 2020 10:15am Jun 25, 2020 10:15am
Quoting Ak386
FTMO I ask for help for us new ones, we are trying to get the drawdown very low, we ask you to help with the demo accounts, we want a new demo account to be started every 5 days. 10 days is a long time for most of us who can burn an account in 1, 2 or 3 days and we have to wait 10 days to open a new demo account. In previous days, Otakar already said that he would analyze it. Does any of this group agree with me?
I think there's logic to not giving people demo accounts so often. They are looking for people to be slow and steady. They are not looking for people who will potentially burn an account within 1, 2, or 3 days.
  • #2,046
  • Edited 11:21am Jun 25, 2020 11:08am | Edited 11:21am
Quoting ia1979
{quote} I think there's logic to not giving people demo accounts so often. They are looking for people to be slow and steady. They are not looking for people who will potentially burn an account within 1, 2, or 3 days.
You may be right, but for us novices it is having to calculate many things and it can take us a long time, Calculate lots, time to operate, risk management, strategy, you may be an expert, but we must also have an opportunity.
I think 10 days is a long time.
I use this indicator to calculate what is more important, the daily drawdown, but it is not the same as using FTMO.
This indicator is it improve by my friend[attach]
I hope this indicator can help some of you

Attached Image
Attached File(s)
File Type: mq4 Today_Info_DD_PL_done (1).mq4   10 KB | 314 downloads
Be happy, friendly, humble and winner!!
  • #2,047
  • Jun 25, 2020 2:42pm Jun 25, 2020 2:42pm
Quoting Masterrmind
{quote} Keep going mate you will get through the verification stage. Your assigned risk per trade is mostly constant and well managed. Great to see you continuing to display a TE. Nice work. Masterrmind........
Concur mate! You’ve got this leweg1. This month has been really tough trying to pick a direction. I’m still in DD too.
  • #2,048
  • Jun 25, 2020 3:33pm Jun 25, 2020 3:33pm
Just saw on FTMO's Insta page that someone passed their test in one hour! How can that be possible? Place 50-100 lot trades on more than one account and hope for the best? Crazy stuff.
  • #2,049
  • Jun 26, 2020 12:23am Jun 26, 2020 12:23am
Quoting ia1979
Just saw on FTMO's Insta page that someone passed their test in one hour! How can that be possible? Place 50-100 lot trades on more than one account and hope for the best? Crazy stuff.
This is simple. Risk 2% per trade. Jump to 1 minute chart and catch intraday trend for 5:1 R:R. And you've got 10% in 1 trade or catch few smaller trades.
Challenge/Verification results posted by FTMO on their website show that large % of traders reach 10% in just 1-2 days. That should tell you how you need to change your trading and risk management in order to pass. Once you pass you can relax and go back to your original trading style and risk management.
There are traders who refuse to go crazy with their risk management and the result is that when after around 3 weeks they see that they are not close to 10%, then they slow down and make sure they finish with positive account to get free repeat. Some traders get multiple free repeats.

Yes, it is crazy stuff but it is necessary to pass. 92% of traders fail to pass. That number should tell you something.
I think if they removed 30-day and 60-day time limit and introduced 1-step Evaluation with 3 months time limit, then 8% success rate would jump to 20-30% and maybe even higher.
Remember, the Challenge rules are designed specifically to stress the hell out of you for very short time and see if you can survive that. If you can, then you will become funded trader.

I see many beginner traders asking for multiple trial demo accounts to try if they can pass or they complain about 10% being too high or 30 days too short.
My question is.
Should beginner traders without proper strategy apply with prop firms?

This is 30-day competition and if you can't do the math to figure out how to pass and you can't take the heat, then get out of kitchen.

You know what I think is crazy? Traders who pay 540EUR, start trading without understanding Challenge rules and they ask questions that could be answered by FTMO FAQ or their youtube videos.

Congratulations to all traders who passed recently. Price action has been all over the place last few weeks.
  • #2,050
  • Jun 26, 2020 5:46am Jun 26, 2020 5:46am
Quoting Rmg
Applied for 50k challenge, unable to trade as there were trades running before i execute my first trade. My ID has been assigned for some one else as well some clerical mistake i think. Sent 3 emails, waiting for response. life sucks!!
Sorted, facing the challenge now.
on a postive roll...
  • #2,051
  • Jun 26, 2020 6:23am Jun 26, 2020 6:23am
Quoting Swing4Fence
{quote} Concur mate! You’ve got this leweg1. This month has been really tough trying to pick a direction. I’m still in DD too.
Thank you for the kind words Swing, its a battle "where there is no peril in the fight, there is no glory in the triumph"

Difficult times at the moment, hope you get yourself out the hole too mate!
  • #2,052
  • Jun 26, 2020 11:49am Jun 26, 2020 11:49am
Quoting leweg1
{quote} Thank you for the kind words Swing, its a battle "where there is no peril in the fight, there is no glory in the triumph" Difficult times at the moment, hope you get yourself out the hole too mate!
Leweq1
Attached Image
With respect I think that in your balance there is too much stop loss, soon you need more floating, don't you think?
Be happy, friendly, humble and winner!!
  • #2,053
  • Jun 26, 2020 12:38pm Jun 26, 2020 12:38pm
Quoting Swing4Fence
{quote} Concur mate! You’ve got this leweg1. This month has been really tough trying to pick a direction. I’m still in DD too.
...and me too. Verification account hit a rough patch earlier this week. Still in DD but have had a good couple of days now so slowly but surely moving in the right direction.
  • #2,054
  • Jun 28, 2020 7:20am Jun 28, 2020 7:20am
Quoting Ak386
{quote} Leweq1 {image}With respect I think that in your balance there is too much stop loss, soon you need more floating, don't you think?
Yes, thank you for noticing, i will try and do better, I will make sure I improve my strategy to be 100% win rate...
  • #2,055
  • Jun 28, 2020 7:31am Jun 28, 2020 7:31am
Quoting leweg1
{quote} Yes, thank you for noticing, i will try and do better, I will make sure I improve my strategy to be 100% win rate...
  • #2,056
  • Jun 28, 2020 8:24am Jun 28, 2020 8:24am
Quoting Ak386
{quote} Leweq1 {image}With respect I think that in your balance there is too much stop loss, soon you need more floating, don't you think?
what does this even mean? I'm trying to make sense out of there is too much stop loss!!


Quoting leweg1
{quote} Yes, thank you for noticing, i will try and do better, I will make sure I improve my strategy to be 100% win rate...
Apt!!
  • #2,057
  • Jun 28, 2020 10:07am Jun 28, 2020 10:07am
I came across this thread somewhere yesterday and have read the last 20 pages. One thing I'm not seeing is post from people indicating they are earning from FTMO.

All I see are questions about restrictions, demo, the challenge, the verification and even post about people who started trading live accounts. But not a single post about earners.

Is that available in another thread? Where can i see legitimate examples of people who are actually been paid by FTMO?
  • #2,058
  • Jun 28, 2020 10:41am Jun 28, 2020 10:41am
Quoting newegg
{quote} what does this even mean? I'm trying to make sense out of there is too much stop loss!! {quote} Apt!!

He knows what we are talking about, the better your strategy the less stop loss
Be happy, friendly, humble and winner!!
  • #2,059
  • Jun 28, 2020 10:45am Jun 28, 2020 10:45am
Quoting Ak386
{quote} He knows what we are talking about, the better your strategy the less stop loss
that is totally false. Stop loss depends entirely on the the person's strategy. Someone trading the daily chart will almost definitely have a bigger stop loss than someone trading the 15-minute chart.

And that's just one example of why trade A may need a wider stop than trader B.
  • #2,060
  • Jun 28, 2020 11:01am Jun 28, 2020 11:01am
Quoting Ak386
{quote} He knows what we are talking about, the better your strategy the less stop loss
in reference to the shout on my wall, look at the account risk through all my trades... 0.5% throughout
Attached Image

you can be wrong 70% of the time but still be profitable with risk to reward, do you even know what your saying now "the better your strategy the less stop loss" Get a different mindset!

go shout on everyone else going through a rough patch at the moment.
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