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FTMO - For serious traders

  • #2,221
  • Jul 8, 2020 12:55pm Jul 8, 2020 12:55pm
Quoting Zuke
{quote} Thanks. I really appreciate yours and others kind words of support. We are all eagerly waiting to support you when you do yours mate
Well done Zuke!
  • #2,222
  • Jul 8, 2020 3:22pm Jul 8, 2020 3:22pm
Quoting Masterrmind
{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 ..........
I will do, I am just being lazy atm lol

Once I get the details for my first account I am going to start another 2 FTMO challenges and do them all at the same time. Maybe after that I will check out the other firm.

Hopefully I can pass the next 2 just as quick as this one
  • #2,223
  • Jul 8, 2020 3:23pm Jul 8, 2020 3:23pm
Quoting Ak386
I congratulate those who have passed the challenges, here there are geniuses, if any of you, internally or privately, can pass me the strategies, I will thank you eternally, I have not been able to pass any demo, until today

If you have passed the demo, try the real challenge next
  • #2,224
  • Jul 8, 2020 11:59pm Jul 8, 2020 11:59pm
Quoting daytradrfx
Finally 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.
Inspiring equity curve, very well done daytradefx.
on a postive roll...
  • #2,225
  • Jul 9, 2020 12:02am Jul 9, 2020 12:02am
Quoting Zuke
Soooo, 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,...
Good one Zuke!!
My current challenge is more or less like yours, taking my time to complete.
on a postive roll...
  • #2,226
  • Jul 9, 2020 12:28am Jul 9, 2020 12:28am
Quoting Swing4Fence
{quote} Well done Zuke!
Thanks! You were inspiration to do 3 Challenges at once! Im still fighting to get Challenge 3 from DD to +ve, but its been a good (but tough) journey so far
  • #2,227
  • Jul 9, 2020 12:29am Jul 9, 2020 12:29am
Quoting Rmg
{quote} Good one Zuke!! My current challenge is more or less like yours, taking my time to complete.
Nice One! Keep Going!
  • #2,228
  • Jul 9, 2020 12:40am Jul 9, 2020 12:40am
how many demo challenges did you guys do before you paid for the real challenge?
  • #2,229
  • Jul 9, 2020 1:01am Jul 9, 2020 1:01am
Quoting bojack34
how many demo challenges did you guys do before you paid for the real challenge?
0
  • #2,230
  • Jul 9, 2020 1:04am Jul 9, 2020 1:04am
Quoting bojack34
how many demo challenges did you guys do before you paid for the real challenge?
0 for me as well. I was confident in myself
  • #2,231
  • Jul 9, 2020 2:06am Jul 9, 2020 2:06am
0 for me too. Ive been a trader for a long time though.
  • #2,232
  • Jul 9, 2020 3:30am Jul 9, 2020 3:30am
Quoting bojack34
how many demo challenges did you guys do before you paid for the real challenge?
One, to get used to the FTMO way of doing things.
  • #2,233
  • Jul 9, 2020 5:19am Jul 9, 2020 5:19am
A question for anyone that is a funded trader or if anyone could answer this.

What happens is I have a negative month once funded. For example, I am minus 1000 at the end of the month and I have not broken any rules. Does that account go back to 100k? or do you just carry on trading with the remaining balance?
  • #2,234
  • Jul 9, 2020 5:25am Jul 9, 2020 5:25am
Quoting akamrp
A question for anyone that is a funded trader or if anyone could answer this. What happens is I have a negative month once funded. For example, I am minus 1000 at the end of the month and I have not broken any rules. Does that account go back to 100k? or do you just carry on trading with the remaining balance?
As far i understand, you will resume from 99k.

Regards.
How big can you think!
  • #2,235
  • Jul 9, 2020 5:48am Jul 9, 2020 5:48am
Quoting Aar
{quote} As far i understand, you will resume from 99k. Regards.
Would the max loss no be only 9k or would that reset to 10k?
  • #2,236
  • Jul 9, 2020 6:10am Jul 9, 2020 6:10am
Quoting akamrp
{quote} Would the max loss no be only 9k or would that reset to 10k?
The 10K loss limit is for the whole account regardless the period of time. So you will start the new month at 99K with a 9K loss limit. The account can't go under 90K, that's the limit you need to respect, no reset, no money added.
You got to strike when the moment is right without thinking
  • #2,237
  • Jul 9, 2020 6:47am Jul 9, 2020 6:47am
Quoting Vincelev
{quote} The 10K loss limit is for the whole account regardless the period of time. So you will start the new month at 99K with a 9K loss limit. The account can't go under 90K, that's the limit you need to respect, no reset, no money added.
thanks for clearing that up
  • #2,238
  • Edited 7:23am Jul 9, 2020 7:05am | Edited 7:23am
Sharing with you a key learning, so nobody here makes the same mistake I almost did as a new funded trader...

Re: The news rule of 2mins before/after (see faq screenshot). ****note this news rule does NOT apply to Demo, Verification & Challenge Accounts****

Here is my learning:
If you are already in a longer term trade prior to news announcement, and your “protective stop” (which you placed hours prior to news announcement) gets triggered within -2 +2 minute news window, you will violate the rule and lose the account. I mistakingly assumed the rule only pertained to newly placed orders within window, and was incorrect.

I was up 8k and had to exit, as Natural Gas news event coming up here shortly (FTMO sent email reminder of news event ). The rule completely makes sense for everyone who has traded the real markets for several years, price gapping past SL levels etc.

Simply sharing, to hopefully help at least 1 person keep their hard earned account. I always try to stay humble and admit mistakes, so my friends can learn.
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  • #2,239
  • Jul 9, 2020 7:09am Jul 9, 2020 7:09am
Quoting Swing4Fence
Sharing with you a key learning, so nobody here makes the same mistake I almost did as a new funded trader... Re: The news rule of 2mins before/after (see faq screenshot). ****note this news rule does NOT apply to Demo, Verification & Challenge Accounts**** Here is my learning: If you are in a longer term trade long before the news announcement, and your “protective stop” (which you placed hours prior to news announcement) gets triggered within -2 +2 minute news window, you will violate the rule and lose the account. I mistakingly assumed it was...

If I have a trade already open and it is still open past the news it will be fine right?
  • #2,240
  • Jul 9, 2020 7:18am Jul 9, 2020 7:18am
Quoting akamrp
{quote} If I have a trade already open and it is still open past the news it will be fine right?
Yes, as long as it doesn’t close in the window. Some might go the route of trading no SL, which creates even more issues of potentially going beyond Daily or Total loss limit.

Found this video extremely helpful, to leverage hedging which seems to be a good way to accomplish protecting position if desired to hold through news. Just be careful of extreme stop widening on both sides - as that could be troublesome if trading too big.

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