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FTMO - For serious traders

  • #2,061
  • Jun 28, 2020 12:39pm Jun 28, 2020 12:39pm
Quoting leweg1
{quote} in reference to the shout on my wall, look at the account risk through all my trades... 0.5% throughout {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.
things you may want to consider:

-how that 70% distributed during a period
-time

the challenge isnt created for the sound trading systems to pass, not have unlimited time!!
there is always, always another trade!!
  • #2,062
  • Jun 28, 2020 2:21pm Jun 28, 2020 2:21pm
“Systems don’t need to be changed. The trick is for a trader to develop a system with which he (or she) is compatible”

~Ed Seykota
  • #2,063
  • Jun 28, 2020 2:47pm Jun 28, 2020 2:47pm
I am very sorry my intention is to help and to help me, my language is another, but I understand that the account is public, why is it public? If I put something public it is for the colleagues to think, maybe you misinterpreted me, here I see that some are defending or reactive, I know that the challenge is very stressful but first is to be happy.
you say: you can be wrong 70% of the time but still be profitable with risk to reward, don't you think that is very dangerous?
I repeat I am sorry I am different in my thinking.
Leweq1 I hope everything goes well for you!
Hopefully to have someone to correct me or alert me and press me to make changes to improve, this is very difficult.
I wish everyone success, I know how difficult it is to trade, I'm trying to go from demo
Be happy, friendly, humble and winner!!
  • #2,064
  • Jun 28, 2020 3:41pm Jun 28, 2020 3:41pm
Attached Image (click to enlarge)
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Be happy, friendly, humble and winner!!
  • #2,065
  • Jun 29, 2020 8:06am Jun 29, 2020 8:06am
Hello Traders,
I see a lot of you are discussing the progress of your Challenges, Verifications and FTMO Accounts. Congratulations to those who progressed to the next stages this week!
The issue with Purple Trading I mentioned last time was caused by their server outage and lasted less than 1 hour on Monday between 2-3 pm CEST. Due to the server outage, Purple Trading lost some accounts’ data and used a previous record to back up these accounts. These accounts were often missing some executed trades, but we were able to use our own records to compensate our client’s accounts, depositing the missing profits into our traders’ accounts and we reached compensation agreements with all our traders by now. Things like this can be frustrating at times, but it is natural that some issues occur sometimes.

Quoting ia1979
I saw somewhere yesterday that a guy is paying for people taking the FTMO challenge. He also puts them through some of his own tests first to make sure he isn't wasting his money on people that are are not that good. And apparently FTMO know about it, and are OK with it. He expects high results though, and the drawdown is limited to 5% I believe. What's in it for him? For people that pass and start earning, FTMO take 30% of the profit share. He is sent the other 70%. He keeps 20% of that 70% and the trader gets sent the rest. The account is always...

Hi Ia1979,
I assume you are referring to Kieran and his website https://traderseed.io/.
We can confirm we know Kieran well and have been working with him for quite some time now.
We have made some partnerships in past to offer our services to a wider range of traders and Kieran was one of our first partners. You should realise that Kieran is risking his own money paying the fees for the traders he chooses and sometimes, these traders will also fail the evaluation or the FTMO Account without turning any profits for Kieran.

Quoting cogs
{quote} Hi Tomas, Thank you for acknowledging the mistake made by ftmo. Interesting you mention 'little error'. Used in the correct context this 'little error' may well have contributed to ftmo's first million in the making, and may well be directly related to many thousands of clients losing their funds, after all this is for 6 months of the year, and can be interpreted as CET or CE(S)T as it still stands on your web site, which has been the case from the outset, but hey what's an hour hear or there during the most volatile time of the day.

Hello again Cogs,
The time zone we operate in and use as a default for all purposes of FTMO is mentioned dozens of time throughout our website and everywhere except for this place it states CE(S)T. At the specific place, you pointed out we were not able to just change the website content to correct it as the converter uses some algorithms and thus the change has to be done by IT. As I previously said, we were going to have it changed as part of the big new update, but I have logged a request with our IT to have it changed now. It was never our intention to mislead anyone and if this caused any inconvenience to you, we sincerely apologise for this misunderstanding.

Quoting Mtinifx
I don't know what the hell is happening with the lmax feed this afternoon - at one stage the spread on Gold was 25 pips!! I am most definitely changing broker for the next phase!

Hi Mtinifx,
I am sorry for your bad experience. I can confirm that the conditions on gold are not best. As we want only the best possible conditions for our traders we are working on a major improvement. It will be ready within a few weeks.

Quoting doji
{quote} I'm surprised you still chose the LMAX feed for the Challenge despite the reported technical problems. Could it be the bread-and-water diet you're on?file:///C:/Users/Tomas/AppData/Local/Packages/oice_16_974fa576_32c1d314_12ac/AC/Temp/msohtmlclip1/01/clip_image004.png May I suggest that FTMO first fix all the bugs in their proprietary platform before requiring traders to use it for the Challenge? And once it's functioning optimally, can FTMO consider allowing funded traders to trade live on it --not on demo-- like other prop firms...

Hello Doji,
I’m very pleased to be able to tell you that last week, we have not registered a single technical error on our FTMO Platform, nor received any complaints of that kind. Our infrastructure has been expanded and all functions including our Free Trial accounts are fully functioning again. As we are running an extremely complex business, while still being a pretty new company, we do our best to not disappoint any of our traders.
As for allowing our FTMO traders to trade live accounts directly, we are not planning that. Having the set up in the way we have is great as it significantly lowers the administration tasks involved for both the traders and our company and also decreases some security risks for us.

Quoting tradista
Hi, I'm interested in taking the challenge soon. My main strategy is based on pending orders at specific levels, mostly because I can't be watching the charts during the day. I'm asking because I'm not sure how to interpret the "trading according to the real market" rules. Maybe someone can shed some light here. Thanks.

Hello Tradista,
Please visit our FAQ page https://ftmo.com/en/faq/what-is-trad...a-real-market/ and also visit the article linked on this FAQ page which explains the topic in exhaustive detail. If you have any questions after reading this article, contact us at [font=verdana][email protected][/font] and we will be happy to clear anything up for you.

Quoting eztrader1
Special account (“ FTMO Funded Account”) The Member is entitled to enter into a Contract on managing a Special Demo Account with the Company in order to enter into an agreement, the subject of which shall be the management of a Special Demo Account if during the period when services were provided, the member has met the conditions listed in Article 3.2 of these conditions and the conditions listed in Article 5.1, excluding the last point which is: The Member has shown profit upon closure on all of the fictional trade positions conducted on their...

Hello Eztrader1
Like most smart companies, we have written our Terms & Conditions in a way to be able to have more legal power than what we actually commonly need and practice. What you point out on gives us the ability to refuse to progress a trader to FTMO stage in cases like the recent use of the HFT strategies that return a profit on the demo account but loses on our live accounts.
In the case of HFT strategies, we let the border-case clients progress and we offered new free replacement Verification accounts (in case this strategy was only used during their Verification) or Challenge accounts (in case the traders used the HFT in both Challenge and Verification stages) to all traders that were using these strategies. This is just to illustrate that although our T&C gives us quite a lot of power, generally we do not exercise it and rather act in accordance with our principle of fair play.

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?

Hello AK386,
I absolutely understand where you are coming from with this request, but please realise that all of these Free Trial accounts are causing the load to our infrastructure, which then causes a troubles elsewhere. Having all these accounts connected and updated is actually not that simple. We would like to be able to restart the Free Trials more often for you, but at this time it is not yet viable.

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!!
Hello Rmg,
The issue you are describing was caused by a human error made while creating the account for you. We apologise for the inconvenience caused and thank you for your understanding. I’m assuming this issue should be long resolved by now.

Quoting renko4x
{quote} 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...
Hello Renko4x,
A) Can you please let us know your list of preferred brokers?
B) As for allowing our FTMO traders to trade live accounts directly, we are not planning that. Having the set up in the way we have is great as it significantly lowers the administration necessities involved for both the traders and our company and also decreases some security risks for us.

That’s it for today. Good luck in this new trading week!
Tomas
  • #2,066
  • Jun 29, 2020 9:58am Jun 29, 2020 9:58am
Tomas You are right, sometimes it is saturating the system, it takes time to update, as a suggestion you can eliminate all the inactive or previous demo.

FTMO I have a question, when I pay a challenge how many time do I have to start to trade?
Be happy, friendly, humble and winner!!
  • #2,067
  • Jun 29, 2020 10:15am Jun 29, 2020 10:15am
Quoting Ak386
Tomas You are right, sometimes it is saturating the system, it takes time to update, as a suggestion you can eliminate all the inactive or previous demo. FTMO I have a question, when I pay a challenge how many time do I have to start to trade?
For the sake of saving everyone time here.
Thoroughly go through content here. That is what all of us on this thread have already done:

https://ftmo.com/en/faq/
  • #2,068
  • Jun 29, 2020 10:36am Jun 29, 2020 10:36am
Quoting Swing4Fence
{quote} For the sake of saving everyone time here. Thoroughly go through content here. That is what all of us on this thread have already done: https://ftmo.com/en/faq/
I did not find the answer,

today the update is very slow
Be happy, friendly, humble and winner!!
  • #2,069
  • Edited 11:15am Jun 29, 2020 10:57am | Edited 11:15am
Hi Tomas,

I like AxiTrader.
Just did quick look at broker comparison on myfxbook.
What about FPMarkets? They have definitely lower spreads than many of your current brokers. Their reviews on TrustPilot are excellent, even better than IC Markets. I may consider opening live account with them.

Can you explain what is the point of keeping Blackwell or BOSSA? They have horrible spreads and overall costs are huge for majors; 2.5pips on AUDUSD (don't even want to know what spreads are on GBPAUD and GBPNZD). My guess is that less than 1% of traders choose any of these two brokers. Would dropping 2-3 worst brokers save some IT/Administrative resources?

More brokers doesn't mean better. It's better to have less and quality ones. I understand that you need brokers outside EU with very high leverage so traders can trade large sizes to pass Challenge. What if you brought maybe 2 quality brokers with UK licence? Yes, they would have lower leverage but you could offer them for funded accounts for traders who want to trade conservatively with lower risk.

You could ask traders for broker suggestions, publish the list and then let everyone vote for top 3 brokers that traders would like FTMO to negotiate a deal with.

Also what if you found a way to separate Trial demo accounts infrastructure from all others (Challenge/Verification/Funded accounts) to make sure that no extra load on Trial accounts could cause problems with other accounts. Is that something FTMO could handle financially?
  • #2,070
  • Jun 29, 2020 12:18pm Jun 29, 2020 12:18pm
Quoting renko4x
Hi Tomas, I like AxiTrader. Just did quick look at broker comparison on myfxbook. What about FPMarkets? They have definitely lower spreads than many of your current brokers. Their reviews on TrustPilot are excellent, even better than IC Markets. I may consider opening live account with them. Can you explain what is the point of keeping Blackwell or BOSSA? They have horrible spreads and overall costs are huge for majors; 2.5pips on AUDUSD (don't even want to know what spreads are on GBPAUD and GBPNZD). My guess is that less than 1% of traders choose...
horrible spreads arent bad when you are in the pseudo prop biz.

1. bigger spreads are a fast track to your frequent traders to lose more = more will need to retake challenge.

2. if...or rather IF ever all trades from the glorified funded demo will make to live account, then the traders can be hit with the horrible bigger spread+comm ( together 'trading cost') vs the best available out ( ie best low spread retail options + IB reduced comm option!!)

without going much deeper here, this will sum up some of the advantages why you get BOSSA or XM or other bucket shops with their full 'trading cost'.
there is always, always another trade!!
  • #2,071
  • Jun 29, 2020 12:54pm Jun 29, 2020 12:54pm
FTMO you are going to have to buy servers, it no longer updates every 10 minutes as you say.


There are several better brokers than the ones they have in FTMO, like TICMILL
Attached Image (click to enlarge)
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Be happy, friendly, humble and winner!!
  • #2,072
  • Jun 29, 2020 1:04pm Jun 29, 2020 1:04pm
Quoting renko4x
Hi Tomas, I like AxiTrader. Just did quick look at broker comparison on myfxbook. What about FPMarkets? They have definitely lower spreads than many of your current brokers. Their reviews on TrustPilot are excellent, even better than IC Markets. I may consider opening live account with them. Can you explain what is the point of keeping Blackwell or BOSSA? They have horrible spreads and overall costs are huge for majors; 2.5pips on AUDUSD (don't even want to know what spreads are on GBPAUD and GBPNZD). My guess is that less than 1% of traders choose...
After i got feed up with IC Markets servers i switched to FP best decision i ever made never ran into 1 problem with them, although now im with Admiral Markets only for the fact they have 1 free withdrawal via wire a month which is beneficial from an asic broker
  • #2,073
  • Jun 29, 2020 2:51pm Jun 29, 2020 2:51pm
Quoting Ak386
Tomas You are right, sometimes it is saturating the system, it takes time to update, as a suggestion you can eliminate all the inactive or previous demo. FTMO I have a question, when I pay a challenge how many time do I have to start to trade?
24 H maximum 48 H.
  • #2,074
  • Jun 29, 2020 3:03pm Jun 29, 2020 3:03pm
Quoting mizi123
{quote} 24 H maximum 48 H.
mizi123 Thank you for your answer, you are very kind , I ask you, after activating the account the 10 days begin to count from the first trade or before ?
Be happy, friendly, humble and winner!!
  • #2,075
  • Jun 29, 2020 7:48pm Jun 29, 2020 7:48pm
Hi, AK386. I'll be cruel to be kind.

If you can't even be bothered to read the FAQ's on the FTMO website, what makes you sure you're ready to take on the Challenge? I suggest that instead of posting your questions here, you're better off chatting with their support rep. That way, you can query them all you want and get answers--accurately and in real time.
Amor Fati--F. Nietzsche
  • #2,076
  • Jun 30, 2020 2:14am Jun 30, 2020 2:14am
Quoting doji
Hi, AK386. I'll be cruel to be kind. If you can't even be bothered to read the FAQ's on the FTMO website, what makes you sure you're ready to take on the Challenge? I suggest that instead of posting your questions here, you're better off chatting with their support rep. That way, you can query them all you want and get answers--accurately and in real time.
You're not being cruel. You've been very kind to him. I have not plan of taking the FTMO challenge as I have not seen much of success from anyone. Yet there isn't any page on their website that I haven't read.

He is just setting himself up for failure and I doubt he's going to stop now because I've seen him ask such basic questions 30 pages back on this very thread.

It appears the desire to riches with FTMO is stronger for him than the need to understand what he's getting himself into.
I wish him well though.
  • #2,077
  • Jun 30, 2020 6:31am Jun 30, 2020 6:31am
Quoting leweg1
{quote} After i got feed up with IC Markets servers i switched to FP best decision i ever made never ran into 1 problem with them, although now im with Admiral Markets only for the fact they have 1 free withdrawal via wire a month which is beneficial from an asic broker
I also had issues with IC servers not updating and many other issues but prior to this they were quite stable.

Hence not trading any current accounts with them but this might change in the future if they sort their multiple servers out.

One of the critical factors especially on scalping the market is smooth and very fast server action ... nothing more painful than sluggish execution.

Always the case of having to continually peruse the broker offerings and pick the best of the provided offerings.

My next step is to do exactly that for the upcoming challenges.

Hmmmmmm.

Masterrmind .........
Master your Mind then Master your Trades
  • #2,079
  • Jun 30, 2020 7:21am Jun 30, 2020 7:21am
Quoting piple
Hidden
9000 demo % cant be exchanged for 155 real euros?
without wanting to be hard on you, (but who cares, right?), just how pathetic it is?
the same guy who asked the XM competition guy to lower the acct minimum to 50$ bcos 250 is too high....from the UK.
i stand wrong,
this forum still holds some entertainment value!!

Quoting Masterrmind
{quote} I also had issues with IC servers not updating and many other issues but prior to this they were quite stable. Hence not trading any current accounts with them but this might change in the future if they sort their multiple servers out. One of the critical factors especially on scalping the market is smooth and very fast server action ... nothing more painful than sluggish execution. Always the case of having to continually peruse the broker offerings and pick the best of the provided offerings. My next step is to do exactly that for the...
TBH, i use ICM accounts on 5 different servers, and dont recall any serious issues on them the past 5 months.
( live-2, -14, -16 (x2), -20).
there may be issue with demo, but what broker would plow serious resources into a demo really?
the live accounts where it really matters are stable enough, and still one of the best overall choice for cost effective retail trading, especially scalping.
there is always, always another trade!!
  • #2,080
  • Jun 30, 2020 7:43am Jun 30, 2020 7:43am
Live servers with IC were the issues certainly not demo.

Cost wise not a problem but that's not an issue here, it's the server issues that I among others experienced.

Demo servers have always been inferior which is to be expected.

Certainly having to trade on a demo account with FTMO is far from what I would like but it is an additional risk that I decide to take on board or one that I walk away from.

Risk assessment.

Masterrmind .........
Master your Mind then Master your Trades
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