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FTMO - For serious traders

  • #2,401
  • Jul 23, 2020 4:42am Jul 23, 2020 4:42am
Quoting Rmg
{quote} 10 millions.
Well, considering the company's ASSETS were around $300k at the end of 2018 it is quite risky - I am gonna leave just 1 x daily loss limit. By the way, nobody talks about that - FF Trader s.r.o.'s financial statements are publicly available. They had $500k revenue and $300k assets in 2018. So do not expect that it is a multi-million dollar company. Might be bigger now but be realistic in your view of this firm
  • #2,402
  • Jul 23, 2020 5:47am Jul 23, 2020 5:47am
Quoting Rmg
{quote} 10 millions.

  • #2,403
  • Jul 23, 2020 5:53am Jul 23, 2020 5:53am
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.

Well I suppose that is true!

Anyway I tried another trial. The challenge really shouldn't be so difficult. It is the mental challenge. That's for sure. I might give FTMO another go soon because I just can't see any viable alternatives!
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  • #2,404
  • Jul 23, 2020 6:13am Jul 23, 2020 6:13am
Allocating 300k to a trader doesn't mean that they are handling real 300k its actually what they are allowed to loss which is 30k (max loss). Remember, the accounts are 1:100 leveraged accounts. When they allocate us 100k account basically they are 10k at full risk. When you are a funded trader you are among the 8% who passed. Most of these funded guys makes profit which increase their capital and rest comes from their in house traders and challenge fees. Well its a complicated business model they developed. The founder guy Otakar is a smart Businessman, i saw his interview, he designed this business in such a way to be successful. Anyway it shall not be the traders concern as long as they(FTMO) pay out the profits, because as traders we are actually service providers to FTMO. Your max exposure is your challenge fee of 540 eur which you get with the first profit split. Regarding rules they are transparent, no hidden rules to make you fail. No one is forcing to take the challenge, as a trader we solely responsible for our losses.

Regards.
How big can you think!
  • #2,405
  • Jul 23, 2020 7:13am Jul 23, 2020 7:13am
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%...
after 5 withdrawals, i may look at leaving 25% of my cut in there
  • #2,406
  • Jul 23, 2020 7:46am Jul 23, 2020 7:46am
Quoting Mtinifx
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. Well I suppose that is true! Anyway I tried another trial. The challenge really shouldn't be so difficult. It is the mental challenge. That's for sure. I might give FTMO another go soon because I just can't see any viable alternatives! {image}
Mtinifx, how is/was your experience with Fidelcrest?
  • #2,407
  • Jul 23, 2020 9:14am Jul 23, 2020 9:14am
Quoting newegg
{quote} Mtinifx, how is/was your experience with Fidelcrest?
Bro, I wouldn't touch them again with a bargepole. The chances of anyone getting through to being 'funded' are remote. I don't think there is anyone that has actually received a bean from making profits from a funded account. Not anyone!
  • #2,408
  • Jul 23, 2020 11:19am Jul 23, 2020 11:19am
Quoting Mtinifx
{quote} Bro, I wouldn't touch them again with a bargepole. The chances of anyone getting through to being 'funded' are remote. I don't think there is anyone that has actually received a bean from making profits from a funded account. Not anyone!
Yep! i thought as much.
  • #2,409
  • Jul 23, 2020 11:43am Jul 23, 2020 11:43am
Sorry for asking here but I cannot start a thread for some reason. Has anyone traded for Enfoid from Singapore? Are they reliable and not scammers?
  • #2,410
  • Jul 23, 2020 1:44pm Jul 23, 2020 1:44pm
Quoting AndyN
Sorry for asking here but I cannot start a thread for some reason. Has anyone traded for Enfoid from Singapore? Are they reliable and not scammers?
Who knows! I looked at them but was put off by the cost. Anyway, this might help (facebook group - easy to join):

https://www.facebook.com/groups/2296075200687446/

But you'll probably end up coming back to FTMO I'm afraid.
  • #2,411
  • Jul 23, 2020 1:52pm Jul 23, 2020 1:52pm
What about Traders4Traders? They look legit. The person who claims is the founder was even registered with NFA. That adds some credibility
  • #2,412
  • Jul 23, 2020 3:21pm Jul 23, 2020 3:21pm
Quoting AndyN
What about Traders4Traders? They look legit. The person who claims is the founder was even registered with NFA. That adds some credibility
AndyN,
Is there any shitty prop left you want to chat about, probably as a favor squeeze in 1 post, can you?

Going with the title, this supposedly FTMO...pretty distasteful to keep asking about the competition in a totally unrelated manner.

But to answer, all you asked about is inferior to FTMO.
Enfoid a joke. 2 mails to them, about the pro deal, supposedly the 'boss' live in Thailand like myself, yet couldn't answer a mail or give a call...even though the secretary promised.
They offer something that probably there for a fake credibility, since I am sure if serious, not many line up ticking all their pro criteria; 3000+ traded volume, track record on 50k+ live acct, etc...

Traders4traders, fidelcrest, topstepfx, and few can't even recall the name...all garbage deals.

That said, it feels you are not only a new member but also a new trader, if need to ask about all this, like this, here...

Cheers
there is always, always another trade!!
  • #2,413
  • Jul 23, 2020 10:05pm Jul 23, 2020 10:05pm
Strange that I notice one cannot trade US30 with Lmax now. I wonder why. Just says "trade is disabled"
  • #2,414
  • Jul 24, 2020 1:12am Jul 24, 2020 1:12am
Quoting Mtinifx
Strange that I notice one cannot trade US30 with Lmax now. I wonder why. Just says "trade is disabled"
there is 2 US30 within the market watch, one doesn't allow trading but WS30.lmax_m should be working i just tested
  • #2,415
  • Jul 24, 2020 2:48am Jul 24, 2020 2:48am
Quoting leweg1
{quote} there is 2 US30 within the market watch, one doesn't allow trading but WS30.lmax_m should be working i just tested
Got it thanks! Click "show all" on market watch and it appears
  • #2,416
  • Jul 24, 2020 4:40am Jul 24, 2020 4:40am
I also signed up for FTMO this week. I read about them months ago, but didn't bother because I remember they have the 50% win rate rule for the entire challenge. Now they removed it and they cut the Verification target to half which should expedite the process.

On a best case scenario, you'll need 10 days for Challenge and 10 days for Verification, then maybe another 5 working days for them to set-up your account (demo) for live copying of trades.

Has anyone applied for multiple accounts? How does it work? Like as long as I successfully finish the challenge and verification for multiple accounts, fund will be added to my account? Reason for this is 100k with 5% daily drawdown and 10% max drawdown is too tight. I usually risk 1k~2.5k (1%~2.5% of 100k) per trade. So having like 300k or 500k will reduce the possible drawdown a lot.
adapt or be killed
  • #2,417
  • Edited 5:23am Jul 24, 2020 4:57am | Edited 5:23am
Quoting slappymove
I also signed up for FTMO this week. I read about them months ago, but didn't bother because I remember they have the 50% win rate rule for the entire challenge. Now they removed it and they cut the Verification target to half which should expedite the process. On a best case scenario, you'll need 10 days for Challenge and 10 days for Verification, then maybe another 5 working days for them to set-up your account (demo) for live copying of trades. Has anyone applied for multiple accounts? How does it work? Like as long as I successfully finish the...

Makes no difference - it is all percentages 5% of $100K still applies multiplied by 3. Unless you plan on reducing your trade size by a factor of 3 and then placing into each account as in trade say 3 lots on 100K but split across 3 accounts would be 1 lot per 100K account for a total of 3 lots against 300k. Why not just reduce risk factor?

cheers
maahome
  • #2,418
  • Jul 24, 2020 5:10am Jul 24, 2020 5:10am
Quoting maahome
{quote} Makes no difference - it is all percentages 5% of $100K still applies multiplied by 3. Unless you plan on reducing your trade size by a factor of 3 and then placing into each account as in trade say 3 lots on 100K but split across 3 accounts would be 1 lot per 100K account for a total of 3lost against 300k. Why not just reduce risk factor? cheers maahome
Thanks dude! What I mean here is merging the three accounts into one then trading the same lot size. ie 1 lot per trade for the merged 300k account. But yeah, I get your point here.

Has anyone tried trading 0.01 lots just for the day to be counted as trading day? ie. the challenge is for 30 days, but you already managed to hit 10% on the 3rd day, can you just trade with 0.01 lots for the 4th-10th day just to maintain the 10% target profit and move to the next challenge/funding?
adapt or be killed
  • #2,419
  • Edited 5:24am Jul 24, 2020 5:14am | Edited 5:24am
Quoting slappymove
{quote} Thanks dude! What I mean here is merging the three accounts into one then trading the same lot size. ie 1 lot per trade for the merged 300k account. But yeah, I get your point here. Has anyone tried trading 0.01 lots just for the day to be counted as trading day? ie. the challenge is for 30 days, but you already managed to hit 10% on the 3rd day, can you just trade with 0.01 lots for the 4th-10th day just to maintain the 10% target profit and move to the next challenge/funding?
Yes that is allowed. Any size trade is counted. Merging 3 accounts can be done in the live trading account only according to the FAQ's.

Cheers again
maahome
  • #2,420
  • Jul 24, 2020 12:03pm Jul 24, 2020 12:03pm
I found FTMO Customer Support is very cooperative.

However, I am very much concerned about the FTMO Account Metrix.

I literally monitor trades every moment sitting in front of the screen.

However, 2 times I got caught with breaching limit by $50 on the account metrix whereas I closed the trades well before hitting 4.6% loss limit.

They cooperated with me once but it's the fear that makes me all the time in psychological pressure that it might sometime say I have breached the limit when I am on 4% loss.

It restricts me to trade confidently.

That Account Metrix is very disappointing. The Metrix should be really efficient and should not make error.

I believe it does technical errors big time!

Please have a look into Metrix please FTMO.

Thanks.
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