Disliked{quote} Yes that final move in your balance curve is where you shone brightly. Masterrmind .........Ignored
You are quite active on this thread, when do you plan on starting your challenges?
1
$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
Disliked{quote} Yes that final move in your balance curve is where you shone brightly. Masterrmind .........Ignored
Disliked{quote} Yes still my plan also to combine all 3 by 100k accounts into one by master 300k account. I view a single master account as simpler to manage. Although if you lose the master account it's gone in one swift move whereas if you kept the 100k accounts separate and traded at least 2 different strategies across the 3 accounts you might lose control of 1 but still have 2 active. What I like though is the fact that I have 5% of 300k to play with on a daily basis and Max Loss of 10% of 300k. 15000 Max Daily Loss as opposed to just 5k. 30000 Max...Ignored
Disliked{quote} Thankyou. Still pondering on how best to handle the 3 accounts. One at a time or all together. Haha. Masterrmind ..........Ignored
DislikedQuoting Phylo
Please review the below images - this was addressed at length before (below link) and FTMO is familiar with the problem. {image} {image}
The current exchange rate GER30.lmax and DAX.lmax (EUR) against deposit currency USD -> USD:EUR - 1:1.11954 or 1.11954 tv not USD:USD - 1:1 or 1.00000 tv.
Therefore the calculation in the image should be 1.00 lots x 10 points x 1.11954 tv = USD 11.1954 = USD 11.20 not USD 10.00 Note: the indicator tool used in the image automatically determined the deposit currency (in this instance USD) and the broker...Ignored
QuoteDislikedHi Phylo,
Please be aware that the tick value is measured in the margin currency.
You can see in the specification of the DAX.lmax_m that the Margin currency is EUR.
The tick value is correctly specified as 1 since 1 tick movement results in 1 EUR P/L.
Should you have any more concerns, feel free to contact us at [email protected] where we can provide an answer for you in a more timely manner.
1. Please be aware that the tick value is measured in the margin currency.
A1. No it it is not. a) It is delineated and defined in margin currency and b) it is 'measured' in deposit currency. (and this - sir - may seem semantics - but is the premise of your (and any advisor's) misunderstanding - you appear not to understand that tick value is 'measured' in deposit currency - not margin currency)
2. You can see in the specification of the DAX.lmax_m that the Margin currency is EUR.
B2. I am absolutely aware that DAX.lamax margin is delineated in EUR.
3. The tick value is correctly specified as 1 since 1 tick movement results in 1 EUR P/L.
A3. No the tick value is not correct. For while it is delineated as 1 EUR it has not been translated into the deposit currency which, in this case, is ....... USD ......as clearly stated.
If the deposit currency is in GBP the EUR delineated tick value requires translation into GBP. If the deposit currency, in this case of DAX30, is EUR the tick value is already translated to deposit currency and is FIXED at 1 (parity exchange rate).
How is the translation achieved ? By applying the the EUR-USD exchange rate.
But do not take my word for it - here is the direct quote from MQL4 Language documentation.
MarketInfo() Identifiers - MODE_TICKVALUE - Minimal tick value in the deposit currency. - https://book.mql4.com/appendix/marketinfo
Lets repeat the MQL4 documentation definition for ultimate clarity - Minimal-tick-value-in-the-deposit-currency. And as stated - the deposit currency - USD.
Here is typical code to return tick value for a symbol -> double TV=((MarketInfo(Symbol(),MODE_TICKVALUE)));
This code returns the tick value set by the broker and is dependent on the broker affecting the translation (exchange rate) if the deposit currency
is a different currency to the delineated instrument currency.
If the broker does not have the tick value set correct the code fails - not because the code is at fault - but because the the broker has failed to apply the necessary translation to deposit currency.
Why is the code dependent on the broker for tick value ? Because the broker is at liberty to define - besides a host of other parameters and metrics - a tick value with offsets ratio multiples greater than 1 or less than 1.
As the tick value is individually broker defined and not universally the same across like-for-like instruments brokers to broker the code is dependent on the broker for correct representation and the key component of translation or exchange application.
So this is how it works.
Notes on margin calculation in relation to deposit currency - concise, precise, time tested and accurate and correct as correlated to real world calculation results - https://www.forexfactory.com/showthr...25#post8896625
Broker Comparisons:
To illustrate the fallacies of the quoted and address answer - A comparison of a number of brokers tick value settings and ALL of DAX30-GER30 EUR delineated currency and ALL* with USD deposit currency - *with exception of one EUR deposit currency.
All chart have two indicators - one with green text and one with blue. Our primary focus is on the blue text which should be self explanatory.
The green text indicator has no inputs and only returns account information and performs no outward account calculation.
The blue text indicator has four components.
Note: EUR-USD Exchange Rate Asian Session - All screen grabs are during Asian Session which will account for wide spreads
DislikedQuoting Phylo
Please review the below images - this was addressed at length before (below link) and FTMO is familiar with the problem. {image} {image}
The current exchange rate GER30.lmax and DAX.lmax (EUR) against deposit currency USD -> USD:EUR - 1:1.11954 or 1.11954 tv not USD:USD - 1:1 or 1.00000 tv.
Therefore the calculation in the image should be 1.00 lots x 10 points x 1.11954 tv = USD 11.1954 = USD 11.20 not USD 10.00 Note: the indicator tool used in the image automatically determined the deposit currency (in this instance USD) and the broker...Ignored
ODD-BALL
BROKER WITH CORRECT TICK VALUE TRANSLATION: DAX - EUR: Deposit Currency USD.
Note: the broker has defined the tick value as 1 EUR x 2 x 0.1 = 0.2 EUR and the translation to deposit currency USD is 0.2 x 1.13089 = 0.22618 USD tv
Disliked{quote} You are quite active on this thread, when do you plan on starting your challenges?Ignored
DislikedFinally passed my second account verification. {image} Put in my first payment request yesterday. Let's see how it goes. I was notified by FTMO I should receive the payment on Friday. Will post an update once I receive it. I have a journal trying to record my journey in the forex prop trading world. If anyone wants to have a read you are more than welcome to.Ignored
DislikedFinally passed my second account verification. {image} Put in my first payment request yesterday. Let's see how it goes. I was notified by FTMO I should receive the payment on Friday. Will post an update once I receive it. I have a journal trying to record my journey in the forex prop trading world. If anyone wants to have a read you are more than welcome to.Ignored
DislikedFinally passed my second account verification. {image} Put in my first payment request yesterday. Let's see how it goes. I was notified by FTMO I should receive the payment on Friday. Will post an update once I receive it. I have a journal trying to record my journey in the forex prop trading world. If anyone wants to have a read you are more than welcome to.Ignored
Disliked{quote} How are they more restrictive? I have had a look at the rules and they seem very similar?Ignored
Disliked{quote} If you look at FTMO trading objectives and compare them with the other firm they are not the same. Firm 2 has more restrictions. Prefer not to get into a discussion here since it is a competitor but a quick read through both sites will clearly point out the differences. ps. the 400k account has my interest though but that's for later. Masterrmind ..........Ignored
DislikedFinally passed my second account verification. {image} Put in my first payment request yesterday. Let's see how it goes. I was notified by FTMO I should receive the payment on Friday. Will post an update once I receive it. I have a journal trying to record my journey in the forex prop trading world. If anyone wants to have a read you are more than welcome to.Ignored
Disliked{quote} I know who you're talking about. I decided to give them a try with one of their micro accounts. The entrance fee is very small and it's money I'm prepared to lose if I get knocked out for breaking some rule that I didn't even know about I will stick up a TEIgnored
DislikedSoooo, I FINALLY got my second Verification over the line. I wanted to provide some comfort to those of you doing the challenges/verifications with accounts currently in drawdown. Take a look at my equity curve...it was pretty horrendous for such long time. But the key thing was I STUCK TO MY STRATEGY and eventually I managed to turn things around. This is really important because a lot of people end up doubting their strategy or trying to hit home runs or worse still trying to treble or quadruple their size. So my advice is, stick to your strategy,...Ignored
Disliked{quote} Nicely done. Passing is the only requirement and you nailed it. Masterrmind ........Ignored
DislikedSoooo, I FINALLY got my second Verification over the line. I wanted to provide some comfort to those of you doing the challenges/verifications with accounts currently in drawdown. Take a look at my equity curve...it was pretty horrendous for such long time. But the key thing was I STUCK TO MY STRATEGY and eventually I managed to turn things around. This is really important because a lot of people end up doubting their strategy or trying to hit home runs or worse still trying to treble or quadruple their size. So my advice is, stick to your strategy,...Ignored