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FTMO - For serious traders

  • #2,421
  • Jul 24, 2020 5:16pm Jul 24, 2020 5:16pm
Quoting M.Moosa
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...
You really should be monitoring drawdowns and other critical metrics from the account itself, meaning from your challenge/verification or funded MT4 account.

Do not rely on their Account Metrics page to be continually up to date to the second as you know it will not be for the most part.

Setup an effecient alert system to both your email and smartphone that transmits key data in a timely manner.

Try to keep your risk as far away from the maximum thresholds as possible so you have far less chance of causing a breach on your account

Masterrmind..........
Master your Mind then Master your Trades
  • #2,422
  • Jul 25, 2020 4:58pm Jul 25, 2020 4:58pm
hey guys ,

just wanna update my journey with ftmo after the first month of trading for them .
i had a shitty start to be honest broke some of my rules , experienced some overtrading here and there ..and was down around 600 euro ...i refocused and slowly coming back into my"zone" ... was able to make up the 600 + around 50 on top ..so the journey can continue into the second month

will keep you posted how it looks like then

all the best to everyone who trying the challenge and congrats to those who passed and hopefuly can make some good dollars ..
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May the Sheen be with you....
  • #2,423
  • Jul 25, 2020 5:20pm Jul 25, 2020 5:20pm
Quoting Trueman23
hey guys , just wanna update my journey with ftmo after the first month of trading for them . i had a shitty start to be honest broke some of my rules , experienced some overtrading here and there ..and was down around 600 euro ...i refocused and slowly coming back into my"zone" ... was able to make up the 600 + around 50 on top ..so the journey can continue into the second month will keep you posted how it looks like then all the best to everyone who trying the challenge and congrats to those who passed and hopefuly can make some good dollars .....
man just concentrate and follow your rules next time .. good luck
  • #2,424
  • Jul 25, 2020 11:30pm Jul 25, 2020 11:30pm
Quoting Masterrmind
{quote} You really should be monitoring drawdowns and other critical metrics from the account itself, meaning from your challenge/verification or funded MT4 account. Do not rely on their Account Metrics page to be continually up to date to the second as you know it will not be for the most part. Setup an effecient alert system to both your email and smartphone that transmits key data in a timely manner. Try to keep your risk as far away from the maximum thresholds as possible so you have far less chance of causing a breach on your account Masterrmind.............
True and good point... though I hope FTMO will sharpen this up so it is more to the moment, and have an actual countdown clock telling you how many hours left till the new day starts after the trader registers his time zone... they may need caveats not to rely on these alone, but still these refinements would help especially new traders to tune into what matters.
  • #2,425
  • Jul 26, 2020 2:41am Jul 26, 2020 2:41am
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  • #2,426
  • Jul 26, 2020 12:36pm Jul 26, 2020 12:36pm
There are so many great tools, firms, brokers available. Find the freedom through either of those mediums.

So many opportunities for a decent trader; but only opens up if one is really looking.

Many traders focus on those tiny things don't matter. That is the little stone blocking the actual view.

My Best Wishes to all the Traders. Bye for w while.
Determination + Persistence = Success
  • #2,427
  • Jul 27, 2020 7:22am Jul 27, 2020 7:22am
FTMO's "no news trading" policy is really harsh. If you trade, including your SL or TP being hit two minutes either side of a news announcement they close your account !! Really, really puts me off trading with them, especially as I trade with an EA.

How are traders avoiding having their accounts closed when it's so easy to accidentally break that rule ? If they don't want us to trade the news then their server should prevent it rather than putting the liability on us traders.
  • #2,428
  • Jul 27, 2020 7:24am Jul 27, 2020 7:24am
Quoting rjay
FTMO's "no news trading" policy is really harsh. If you trade, including your SL or TP being hit two minutes either side of a news announcement they close your account !! Really, really puts me off trading with them, especially as I trade with an EA. How are traders avoiding having their accounts closed when it's so easy to accidentally break that rule ?
its only certain news not all news, but really easy just check daily what news they say you cant trade turn your ea off before then turn on after
  • #2,429
  • Jul 27, 2020 7:38am Jul 27, 2020 7:38am
Quoting leweg1
{quote} its only certain news not all news, but really easy just check daily what news they say you cant trade turn your ea off before then turn on after
But it's not just EA trading - if your SL gets hit that's also not allowed. So even disabling the EA won't help. It's like they're punishing you for using an SL.
  • #2,430
  • Jul 27, 2020 7:39am Jul 27, 2020 7:39am
Quoting rjay
{quote} But it's not just EA trading - if your SL gets hit that's also not allowed. So even disabling the EA won't help. It's like they're punishing you for using an SL.
its slippage, and the transfer from your demo account to the main live account. close all trades 5 mins before and then trade 5 mins afterwards
  • #2,431
  • Jul 27, 2020 7:42am Jul 27, 2020 7:42am
Quoting leweg1
{quote} its slippage, and the transfer from your demo account to the main live account. close all trades 5 mins before and then trade 5 mins afterwards
Suppose I'm not awake at 2am when the AUD restricted news happenes ? No, this is too punitive, borderline scam that they let you do something which they will then terminate your account for. I don't think FTMO is for me.
  • #2,432
  • Jul 27, 2020 7:47am Jul 27, 2020 7:47am
Quoting rjay
{quote} Suppose I'm not awake at 2am when the AUD restricted news happenes ? No, this is too punitive, borderline scam that they let you do something which they will then terminate your account for. I don't think FTMO is for me.
there is others, they are even looking at this thread now
  • #2,433
  • Jul 27, 2020 7:58am Jul 27, 2020 7:58am
Quoting rjay
{quote} Suppose I'm not awake at 2am when the AUD restricted news happenes ? No, this is too punitive, borderline scam that they let you do something which they will then terminate your account for. I don't think FTMO is for me.
suppose you are a great driver, but one day tired and fall asleep on the way home....
how to avoid it?
dont drive when you are feeling tired.
how to deal with the AUD news if you are trading AUD?
check the calendar ahead, and either dont place a trade that may be open, or set your alarm clock before the news release.

back to the first example:
is giving you a driving license qualify to be "borderline scam" just bcos you may one day fall asleep on the way home?

come on, cant look at things these childishly?!
or obviously, can. just made me wonder why?

happy trading!
there is always, always another trade!!
  • #2,434
  • Jul 27, 2020 8:38am Jul 27, 2020 8:38am
I don't see any problem with their news restrictions. One just goes here: https://ftmo.com/en/calendar
And then one doesn't trade around that time. Goodness me there are so many pairs and so many opportunities (look at Gold over the last few weeks for instance!) why bother to take any unnecessary chances?

Anyway I've decided to go for another challenge - won't be reduced to bread and water this time, can only afford water!
  • #2,435
  • Jul 27, 2020 9:00am Jul 27, 2020 9:00am
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on a postive roll...
  • #2,436
  • Jul 27, 2020 10:31am Jul 27, 2020 10:31am
The worst thing with stupidity is that they do not plan pregnancy and multiply like rabbits, will we be included there?
Be happy, friendly, humble and winner!!
  • #2,437
  • Edited 11:25am Jul 27, 2020 11:04am | Edited 11:25am
Where there's a will there's a way

If you look for a solution then only you will find a solution.

Solution 1: You can use a separate EA which will close the associated trade 5 minutes before and reopen at a suitable price 5 minutes after the news event.

Solution 2: You can use an ea which will remove SL and TP from your existing trade 5 minutes prior news and place back 5 minutes after the news event (if that price still valid at that time). If tp or sl is reached in that window ea will close the trade at the first tick. So it might go in your favor or against. Position size than shall be carefully chosen so the daily max loss doesn't get hit.

Limit your ea so it shall not open any new position in the news window.

Now do not ask where to get this ea or to code this ea or do i have this ea!

Regards.
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How big can you think!
  • #2,438
  • Jul 27, 2020 12:57pm Jul 27, 2020 12:57pm
Found out something quite interesting. Not that it will effect many people because few trade the indices but with Lmax it makes no sense trading US30 because if you want to get $10 a point from a trade, you have to trade 10 lots. The commission is $35 and if you (for example) get 4 points your win amount is the princely sum of $5.00

If on the other hand you trade US500 (or DAX) for $10 a pip you would trade 1 lot and a 4 point gain would give you $36.50 because the commission is only $3.50!

And don't think that you would gain ten times the points by trading US30 to make it worthwhile because you won't
  • #2,439
  • Jul 27, 2020 1:17pm Jul 27, 2020 1:17pm
Quoting Mtinifx
Found out something quite interesting. Not that it will effect many people because few trade the indices but with Lmax it makes no sense trading US30 because if you want to get $10 a point from a trade, you have to trade 10 lots. The commission is $35 and if you (for example) get 4 points your win amount is the princely sum of $5.00 If on the other hand you trade US500 (or DAX) for $10 a pip you would trade 1 lot and a 4 point gain would give you $36.50 because the commission is only $3.50! And don't think that you would gain ten times the points...
When ES moves 4 points Dow equaly moves 40-50points.
4point tp in dow hits before we realise.
on a postive roll...
  • #2,440
  • Jul 27, 2020 1:38pm Jul 27, 2020 1:38pm
Quoting Rmg
{quote} When ES moves 4 points Dow equaly moves 40-50points. 4point tp in dow hits before we realise.
Friend, you're wrong if you're talking about the difference between US30 and US500 and I'll prove it.

If you take those two big bars this afternoon after NY open, US 500 actually moved 150 points compared to US30 moved around 140 points

Actually when I did the challange a month or so ago I'm quite certain there was no commission on the indices
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