FTMO - For serious traders | Page 120 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

$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

Attachments: FTMO - For serious traders
Exit Attachments

FTMO - For serious traders

  • #2,381
  • Jul 19, 2020 10:06am Jul 19, 2020 10:06am
Quoting braintheboss
{quote} I agree. Zero performance But one day it will be real and is not cool

you cannot think that this will happen again, things are repeated we do more of the same, you have to structure the strategy, you can be one step away from finding the ideal strategy, we have been studying for several years, we have enough arguments to achieve it!
Be happy, friendly, humble and winner!!
  • #2,382
  • Edited 6:08pm Jul 19, 2020 11:07am | Edited 6:08pm
Quoting Ak386
{quote} you cannot think that this will happen again, things are repeated we do more of the same, you have to structure the strategy, you can be one step away from finding the ideal strategy, we have been studying for several years, we have enough arguments to achieve it!
Since is not manual trading its a pattern happens many times in my case ( almost always ). But it's just a constructive "comment" about how I feel some rules. I will find how can deal with it after a few demo challenges
Try don't lose pants never...
  • #2,383
  • Jul 19, 2020 7:43pm Jul 19, 2020 7:43pm
Quoting SKLearn
{quote} I guess there is no limit on free Repeat.
I'm not sure about unlimited.

Can someone confirm.

Masterrmind........
Master your Mind then Master your Trades
  • #2,384
  • Jul 19, 2020 8:00pm Jul 19, 2020 8:00pm
Quoting Masterrmind
{quote} I'm not sure about unlimited. Can someone confirm. Masterrmind........
That is correct - there seems to be no limit.
Regards
maahome
  • #2,385
  • Jul 20, 2020 12:16am Jul 20, 2020 12:16am
Well, I just signed up for the challenge... We'll see how it goes in summer-trading

Also added the account to my profile if someone wants to check
It's never too late to make a bad trade!
  • #2,386
  • Jul 20, 2020 6:22am Jul 20, 2020 6:22am
Quoting Aar
Any planning for adding MT5 and cTrader on FTMO LMAX datafeed? Regards.
Certainly a major reason for holding off on the 3 challenges is the fact that cTrader is the preferred platform over MT4.

Who knows how long this might take is anyones guess now that the 2 weeks mentioned has long gone.

Hmmmm.

Masterrmind ..........
Master your Mind then Master your Trades
  • #2,387
  • Jul 20, 2020 8:31am Jul 20, 2020 8:31am
Quoting Masterrmind
{quote} Certainly a major reason for holding off on the 3 challenges is the fact that cTrader is the preferred platform over MT4. Who knows how long this might take is anyones guess now that the 2 weeks mentioned has long gone. Hmmmm. Masterrmind ..........
I took one 10k test. Challenge cleared, verification in progress. I would prefer MT5 or cTrader. Hope they will add it soon on their Lmax datafeed.
How big can you think!
  • #2,388
  • Jul 20, 2020 2:22pm Jul 20, 2020 2:22pm
FTMO LMAX Spread | Monday 2020-07-20
from 8.10 a.m. (10 min. after Frankfurt Open) to 12 a.m. (GMT+1 DST)

These pairs could be interesting for London Session scalper: AJ, AU, EG, EU, GJ, GU.
Of course, the ADR of each pair is also important.

Regards Chris
Attached Image(s) (click to enlarge)
Click to Enlarge Name: LMAX Spread.png Size: 80 KB
Click to Enlarge Name: LMAX Spread Test.png Size: 206 KB
  • #2,389
  • Jul 20, 2020 2:38pm Jul 20, 2020 2:38pm
...and don't scalp at this time
Attached Image (click to enlarge)
Click to Enlarge Name: GJ spike.png Size: 77 KB
  • #2,390
  • Jul 21, 2020 11:48am Jul 21, 2020 11:48am
Hi, all...
great thread, I've read the whole thing...
doing the free trial...
I got knocked below the daily loss limit on day three at rollover, though before rollout I was only 80% of max...
I guess I had too large lots open.
Glad it's the free trial!

I'm using the Lmax option, and the spreads, except for some of the indices, can easily reach 10 times, or 15 or sometimes more than normal spreads, at rollover.
The 4 hour averages of the brokers is useless, as the only thing that really counts, sometimes, is that max spread. So, how do the other brokers compare, as far as rollover/overnight spreads?

I know FTMO are looking at other brokers... so, FTMO, please let this be a, if not the, primary consideration... I'm sure this knocks out many of your traders.

Attached File(s)
File Type: ex4 FXRMSpreadHistory.ex4   3 KB | 265 downloads

This spread history indicator is super useful for tracking... leave it on a chart and it gives the peak and closing spreads for each bar, graphically. It clears when you change timeframe, though.
  • #2,391
  • Jul 21, 2020 11:58am Jul 21, 2020 11:58am
the indicator I included is the same as Chris.GER showed above...
  • #2,392
  • Jul 22, 2020 1:05am Jul 22, 2020 1:05am
Well, first day wasn't very successful because I was too greedy and also took the trade that triggered as 2nd... Not a great idea during Winter-Trading...

We'll see how it will continue from now on...
It's never too late to make a bad trade!
  • #2,393
  • Jul 22, 2020 12:01pm Jul 22, 2020 12:01pm
Talk about V shape recovery
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot0.png Size: 25 KB
  • #2,394
  • Jul 22, 2020 12:23pm Jul 22, 2020 12:23pm
My ftmo has not updated at all today is anyone experiencing this or has experienced this before?

I have made a trade earlier today and its not on there
  • #2,395
  • Jul 22, 2020 12:27pm Jul 22, 2020 12:27pm
How much profit would you keep with FTMO? They seem trustworthy but better to be safe than sorry
  • #2,396
  • Jul 22, 2020 12:36pm Jul 22, 2020 12:36pm
Quoting AndyN
How much profit would you keep with FTMO? They seem trustworthy but better to be safe than sorry
its on page 1 the very first post..............
  • #2,397
  • Jul 22, 2020 1:46pm Jul 22, 2020 1:46pm
Quoting akamrp
My ftmo has not updated at all today is anyone experiencing this or has experienced this before? I have made a trade earlier today and its not on there
That's right, the info is not working well today
Be happy, friendly, humble and winner!!
  • #2,398
  • Jul 22, 2020 11:31pm Jul 22, 2020 11:31pm
Hello everyone!
Firstly, let me apologise for the long absence here. Our CEO Otakar was finally able to take a short holiday and thus was quite busy with the top priority tasks and didn’t have enough spare time to check the posts and my answers for you.

Quoting Mtinifx
Yes naturally we don't know, nor does anyone except them, what exactly their business model is. Of course they must have their own live account/s. These guys have their own in-house traders and possibly they also somehow harvest the best trades from those like SKLearn who appear to be very good traders. It could very well be a mixture of challenge fees and profits from a live trading account. Anyway guys - for those still in the game, obviously it doesn't matter where the money comes from as long as it keeps coming! Good Luck
Quoting Mtinifx
[FONT=times...
[/font][/color]
Hello Mtinifx,
It is basically as you say. We are working on a mix of everything. The most important thing is that everyone gets what they signup for.

Quoting renko4x
There are professional traders and there are retail traders. There are professional prop firms and there are retail prop firms. FTMO is retail prop firm. Their business structure is very smart. There are so many ways they could use to monetize it. We only know what they do by what they say. That is not being fully transparent. Has anyone seen proof that 100% of trades are copied to real accounts? That is kept as internal confidential information. One thing that no one is really talking about is that traders are losing IP (Intellectual Property)...

Hello Renko, (answered by Otakar)
In a free market, you can hardly expect the sort of full transparency you are implying. I also didn’t understand this secrecy thing, but as time goes on I can see that the know-how we have is extremely valuable and on the other side immensely expensive to obtain. It takes months and hundred thousand of dollars to find that something might not work. For this reason, we cannot share more information. The important thing is that we are not exploiting any of our traders and we always deliver what we promise.
If you have any suggestions for new videos, feel free to list them here or email us to [b][font=times new roman][email protected][/font][/b]

Quoting tradista
Only thing I find weird is that both FF Trader.SRO & FTMO Evaluation SRO are companies incorporated on ridiculous asset amounts: FF Trader s.r.o. ZCK (…2015) – capital: 3000 CZK (US$127) FTMO Evaluation Global sro (6/2/2020) – capital: 10K CZK ($425) FTMO Evaluation US sro (6/2/2020) – capital: 10K CZK ($425) See here:
Quoting tradista
https://rejstrik-firem.kurzy.cz/osoba/2715476/ (check language, use...
[/font][/color]
Hello Tradista,
We try to work efficiently and not spending time with unnecessary things. So far there was no need for a change and thus we made none. In the Czech Republic, it’s quite a common practice to be registered with pretty much the bare legal minimum, which is 1 CZK. The initial asset amount has nothing to do with how much money each company has.
Quoting akamrp
{quote} Just a thought, traders could lose more than 10k? The 10k is the limit at which point you would fail the target and lose the account, But don't you have to go over this to actually lose it? so potentially someone could lose more than 10k. Unless there is something where all your trades close as soon as you get over 10k


Hello Akamrp,
If Max Loss is breached, the loss is always larger than $10k (on $100k account). Our system is always checking the accounts and closes all positions if it records breach of Max Loss or Max Daily Loss. Most of the time, the loses over 10k are around $10 to $50 over, but if there are larger positions open and/or high volatility, it can go into hundreds.
Quoting akamrp
{quote} One trading strategy can have up to 300k? what I have 2 different trading strategy could I get 600k?

For us, the primary importance of this rule is diversification of the risk. We state that maximum capital allocation is $300k (prior to scaling) per trader or trading strategy. Even if you have 2 different strategies, you are still the same trader who could be overcome by stress and is prone to e.q. revenge trading etc. For this reason, you can’t have more than $300k capital allocated to your FTMO Accounts.

Quoting Phylo
{quote} {quote} PART: ONE of TWO This answer is typical (…){image}

Hello Phylo,
Thank you for the detailed post.
I have passed your posts to our technical team and will provide you with an answer next time.

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?

Hi Akamrp,
In the scenario you outlined, nothing happens. Your MetriX will just display the next Profit Split (one month later), otherwise, everything stays the same and you continue trading the account.
The Max Loss of the account stays the same, 10% from its initial capital on normal risk setup account, meaning you would get into a breach if your equity dropped under $90k.

Quoting akamrp
{quote} If I have a trade already open and it is still open past the news it will be fine right?

To clarify: Contract section 2E:
The Provider shall not perform FOREX trading 2 minutes before the announcement of the subject macroeconomic release, until 2 minutes after the announcement of the subject macroeconomic release.
The rule in simple terms says: No new position can be opened (manually or by pending order) or any existing position altered by any means (manually closed, partially closed, closed by take-profit/stop-loss/trailing stop) during the 2 minutes prior to and 2 minutes after the restrictive news comes out. Technically, you don't have to close the position before this time window but note that this is extremely risky. The best and safest way is to always be out of your positions and to have no pending orders set on the specific news affected instrument prior to this 4-minute window. All the trading-prohibitive news are listed in our Economic Calendar with blue background fill https://ftmo.com/en/calendar/
On a separate note, I noticed you were talking about an Investor Password. We can provide that for you upon request, so just email us at [b][font=times new roman][email protected][/font][/b] from your registered email address with a request and your preferred Investor Password and we can arrange that for you.

Quoting doji
{quote} Good of you to share that, Swing. One thing that doesn't quite make sense to me is why closing an existing trade within that window is also disallowed. I can understand not executing a news trade but what might the reason be for the former? What if you've got a winning trade and your TP was hit 2 minutes before or 2 minutes after the news event, will your account be closed regardless?

Hello Doji,
Maahome gave you a pretty perfect answer. The reasons are actually multiple though. The possible difference of results on your FTMO Account which you trade in demo conditions and our connected live account being one.
The others are that we really want to work with the serious traders and to discourage “gambling” on the news as well as our general strategy to avoid any possible gaps and volatility spikes, where we might not be able to exit on the breach of Max Daily Loss or Max Loss and suffer larger loses.

Quoting eztrader1
In order to get a trading day counted, you have to close your position on the same day. In the "real account" you are even obliged to close your positions, apparently even for low risk spreads like Ger30 - EU50 or Dow30 - US500. What is actually the latest minute to close and the earliest to open in Prague Time? Globex is running almost 24/5.

Hello Eztrader1,
For our purposes, an Active Trading Day is defined as a day during which at least one position was opened. You do not have to necessarily close the trade that day for it to be counted as Active Trading Day.
You are obliged to close any position in instrument prior to a market closure longer than 2 hours. This is instrument and broker dependent; the indices can have daily rollovers of 5 minutes to several hours. You should always check the specifications of the instruments and you can find the trade hours detailed there. Prague time is not important for this matter as you have to go by the specifications of a broker.

Quoting Masterrmind
{quote} The last part you wrote I certainly agree with you. By limiting the weekend trades it forces the trader to be either a scalper or medium term trader for the most part. They limit their risk by forcing trade closures prior to the weekend but at the expense of the trader having to scalp or trade smaller swings at high leverage to make exceptional profit and certainly it is more risky. Masterrmind ...........
Quoting Masterrmind
{C}{C}[IMG]file:///C:/Users/Tomas/AppData/Local/Packages/oice_16_974fa576_32c1d314_3923/AC/Temp/msohtmlclip1/01/clip_image004.png[/IMG]{C}[FONT=times...
[/font][/color]
Hello Mastermind,
We realise that the necessity to close your positions prior to the weekend is limiting for the traders, but similarly to trading, one of our main objectives is our risk management. There were multiple gaps of multiple percentage points on S&P500 just a few months ago and you can understand how we do not want to be exposed to these on accounts with 1:100 leverage. I think there was even a gap on week open triggering a market break on 7% down movement in the spring. With that said, I think this rule shouldn’t need any more justification.
If there isn’t a large move on the new week open, you can just renter your long-term positions again. The spreads and commission should not be such an expense if you are trying to capture large movements and sometimes you might even be able to renter at a better price.

Quoting 1odi
https://www.youtube.com/watch?v=WiGjtdhE2uM watch from min 58, it gets interesting, his account got "hacked" even tho he s the only 1 that has the "keys" to that computer. they(whoever they were) traded on his account 400 lots just to violate his max daily loss on a saturday and then "they" stopped. now how do u defend against that? and i do not mean how do u defend against beeing hacked...
[/font][/color]
I have familiarised myself with the case and although due to GDPR laws, I can’t provide any details specific to the account, I would like to comment on the video review. As some of you wrote later, we really have no interest in opening any trades on our FTMO Traders’ accounts and we never ever do that. This situation is unfortunate, but it is the liability of a trader to maintain a security of their login credentials and sadly there is not much we can do about that. Anyone could claim they have not made some losing trades and it would not be realistic to expect us to compensate the traders based on just these claims.
It is rare to happen, but we had to have a short database outage. For this reason, we did not record the Max Daily Loss violation.

As it was in discussion later, I would like to point out that we have no rule that would forbid trading on the weekend. The only relevant rule is our contract, section 2d:
No trading positions must be opened on the Provider's Account outside the business hours of the traded instrument, except for up to 2-hours rollover break during weekdays.
This means that you are free to trade any instrument which is open for trading during the weekend. Some of our partnered brokers offer crypto pairs, which are generally available 7 days a week.


Quoting pipsographer
Hi Guys, I'm just getting in on this thread. I heard about FTMO from my buddy a while ago. I have been very skeptical of the business model and the verifiability, especially from a legal protection standpoint. I'm here to find out from more trusted and experienced FF'ers if FTMO is legit; by that I mean the following; 1. Do they transparently monitor your account through an investor password during the test period. 2. Do they actually allocate money to you after you pass the test period? 3. Do they really split the profits with you? and is there...

Hello Pipsographer,
Welcome to this thread,
1. Our systems are monitoring your account real-time and not more than every 10 minutes your Account MetriX is updated.
2. Please read article 6 of our Terms and conditions https://ftmo.com/en/terms-conditions/. Even in the FTMO stage, you are trading a demo account, but we copy all the positions to our live master account connected to your FTMO Account. This setup has multiple benefits for both the security of our funds and our traders as we are able to offer our services to clients around the world without many obligations/limitations that would otherwise apply in some countries for trading large live accounts.
3. Of course we do, you can search yourself on Youtube for example, under #FTMO on social media or see some examples here https://ftmo.com/en/payments-for-our-ftmo-traders/
Once you pas our Verification, we sign a legally binding contract with you which details the rules and also the fact you are entitled to 70% of the profits you make.
4. Our main business is registered in Prague, Czech Republic and regulated by the local legislative.

Quoting mnmnmmnnmnmn
Guys, I have a question here. When compare to VIDELCREST, lots people said they're scam by putting the 2% max margin rules onto the trader, so many people failed that because it was not clearly mentioned in the front page, only the max daily loss 6.25% or $3125 for the $50k agressive challenge. Here in FTMO, it also doesn't show the 2% max margin rules anywhere, and in the front page, the max daily loss is 10% or 5000 for the $50k aggressive challenge. I'm wondering if FTMO has some "hidden" rules like the 2% that FIDELCREST. Because to me, the...

Hello Mnmnmmnnmnmn,
We have no hidden rules at all. All our rules are clearly described on our website and in our FTMO Contract that we sign prior to providing the FTMO Accounts for our traders.
It’s been said here few times already, but for the convenience, our rules are:
1. Trading Objectives: https://ftmo.com/en/welcome/#objectives
2. Trading according to a real market https://ftmo.com/en/faq/what-is-trading-according-to-a-real-market/
3. Once in FTMO stage, there are a couple additional more rules. These are:
a. Trading of instruments impacted by certain macroeconomic news is forbidden during the 2 minutes prior to and 2 minutes after the news release: https://ftmo.com/en/faq/can-i-trade-news/
b. You have to close positions prior to any market closure which is longer than 2 hours: https://ftmo.com/en/faq/do-i-need-to-close-my-positions-overnight/


Quoting akamrp
{image} Hey guys, Just wanted to double check, it is only the restricted events I am not allowed to trade right? all the others are fine?

Hi Akamrp,
I confirm it is only the restrictive news that you are forbidden to trade around. These are highlighted with the blue background fill. https://ftmo.com/en/calendar/

Quoting Ak386
Does anyone in the forum know if a demo account FTMO can be added to MYFXBOOK? If yes, under what broker name? Lmax?

Hi Ak386,
There are multiple options on how to connect your account to Myfxbook. If you go through MT4 Auto Update, you need to fill in broker FTMO and server FFTraderSRO-Demo. Note we can change your account investor password as per your wish upon email request. We have a detailed guide on how to connect your account to Myfxbook in PDF. I can’t attach it here, but if you email us at [b][font=times new roman][email protected][/font][/b], we will send it to you.

Quoting Aar
Any planning for adding MT5 and cTrader on FTMO LMAX datafeed? Regards.
Hi Aar,
We are in the final testing phase of bringing MT5 and cTrader as options to our FTMO Platform.
We wanted to have these out already, but as there is a lot of money involved, we really want to make sure to debug these extensively before releasing them out to our traders. The exact release date has not been set yet, but It should be very soon (a few weeks’ time)


That’s it this time. It seems that more and more of you are passing Verifications and joining our FTMO Trader ranks. Congratulations and welcome!
Tomas
  • #2,399
  • Jul 23, 2020 2:39am Jul 23, 2020 2:39am
Quoting leweg1
{quote} its on page 1 the very first post..............
What I meant was how much accumulated profit would you be willing to risk by leaving it in the FTMO Account as capital cushion for any drawdowns? I know the split rate is 70%...
  • #2,400
  • Jul 23, 2020 4:11am Jul 23, 2020 4:11am
Quoting AndyN
{quote} What I meant was how much accumulated profit would you be willing to risk by leaving it in the FTMO Account as capital cushion for any drawdowns? I know the split rate is 70%...
10 millions.
on a postive roll...
8 traders viewing now