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  • #2,441
  • Jul 27, 2020 11:59am Jul 27, 2020 11:59am
Quoting Mtinifx
{quote}US 500 actually moved 150 points {image}
its 15 points!
3235 - 3220 = 15
  • #2,442
  • Jul 27, 2020 12:02pm Jul 27, 2020 12:02pm
Quoting Mtinifx
{quote} 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 {image}
4 ticks =1 point in US 500,
Mt4 shows ticks actually not points. different, US 500 usually moves 20-30 points average a day.
on a postive roll...
  • #2,443
  • Edited 3:41pm Jul 27, 2020 12:41pm | Edited 3:41pm
$3.50 Round trip commission on Dow Mini Futures is pretty common CQG specs. At $5 per 1 point she is profitable all day long regardless. I would know.

https://portal.ampclearing.com/accou...sionquote.aspx
Trade with confidence, trade without fear.
  • #2,444
  • Jul 27, 2020 4:05pm Jul 27, 2020 4:05pm
Hello everyone & FTMO,

I just want to inquire if anyone else has had any concerns with the liquidity of FTMOs provider LMAX? I have passed my first 100k challenge and I am trading my verification stage alongside another 100k challenge and its going fairly well. However, I've had multiple losses now that have been primarily down to LMAX liquidity issues rather than the price action.

Now i'm not one to blame other factors normally or to shout out "scam wick" whenever I got stopped out and I took the first couple of times on the chin but this latest one ruined a great set up for me and a 26 pip flash crash not replicated on any other brokers is getting ridiculous.

The first aim of this post is to vent lol. The challenge is difficult enough without these body blows. The second aim is to ask if anybody has experienced these similar issues with LMAX and whether they would recommend any other brokers on there? It states that LMAX is the cheapest but these wicks have cost me near enough $3000 of challenge money now and its making trading more difficult than it should be so id be willing to go to a more expensive broker that is more reliable.

Apparently IC market is not offered anymore but from my experience they are one of the best brokers out there and certainly never experienced anything there like I have done with LMAX.
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  • #2,445
  • Jul 27, 2020 5:22pm Jul 27, 2020 5:22pm
Quoting simon91
Hello everyone & FTMO, I just want to inquire if anyone else has had any concerns with the liquidity of FTMOs provider LMAX? I have passed my first 100k challenge and I am trading my verification stage alongside another 100k challenge and its going fairly well. However, I've had multiple losses now that have been primarily down to LMAX liquidity issues rather than the price action. Now i'm not one to blame other factors normally or to shout out "scam wick" whenever I got stopped out and I took the first couple of times on the chin but this latest...
I haven't experienced this yet. I hope they can offer ic markets again. I've been trading with ic markets for a couple of months now.

I got an email from FTMO's customer support that you can only have max of 300k funded account. Which means 3 100k challenges passed with 15k max daily dd and 30k max dd. Has anyone tried the 50k aggressive challenge? I think it's better to take that challenge since it has the same rules except capital. If you passed 6 challenges, you'll have max 30k daily dd and 60k max dd and the same 300k funded account.

I'm comfortable trading 2 to 4 lots. But with 100k capital, the 5% max daily dd makes it hard to scale in to trades. So alternative solution is to either reduce my lot size or take more challenges to increase capital. I'm looking for long partnership with FTMO. It's basically a no-risk deal on the trader's side once challenge, verif, and 1st month profit is achieved.
adapt or be killed
  • #2,446
  • Jul 27, 2020 5:33pm Jul 27, 2020 5:33pm
Well.... Summer-Trading is hard... Even though it's Winter for me

Some weird days. Maybe I should've started the challenge in September and not in July...

But I'll get there! Just 5 trading-days done now.
It's never too late to make a bad trade!
  • #2,447
  • Edited 10:22pm Jul 27, 2020 10:11pm | Edited 10:22pm
Quoting fx75
{quote} its 15 points! 3235 - 3220 = 15
No mate it's 150 points. You are leaving out a decimal point!

See below - 32457 - 32441 = 16 points = $160 (negative in this example). We are looking at 1 lot
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  • #2,448
  • Jul 27, 2020 10:12pm Jul 27, 2020 10:12pm
Quoting Rmg
{quote} 4 ticks =1 point in US 500, Mt4 shows ticks actually not points. different, US 500 usually moves 20-30 points average a day.
See my post above. I refering to trading conditions here friend. Not trading terms
  • #2,449
  • Jul 27, 2020 10:48pm Jul 27, 2020 10:48pm
Quoting simon91
Hello everyone & FTMO, I just want to inquire if anyone else has had any concerns with the liquidity of FTMOs provider LMAX?
Hi Simon,
the spread between 0.00 a.m. and 1.00 a.m (GMT+1) is erratic with LMAX datafeed. I would not trade during this time, and certainly not short term.
https://www.forexfactory.com/thread/...3#post13069043
Regards Chris
  • #2,450
  • Jul 28, 2020 3:56am Jul 28, 2020 3:56am
Quoting simon91
Hello everyone & FTMO, I just want to inquire if anyone else has had any concerns with the liquidity of FTMOs provider LMAX? I have passed my first 100k challenge and I am trading my verification stage alongside another 100k challenge and its going fairly well. However, I've had multiple losses now that have been primarily down to LMAX liquidity issues rather than the price action. Now i'm not one to blame other factors normally or to shout out "scam wick" whenever I got stopped out and I took the first couple of times on the chin but this latest...
Ah fake spikes is common scam tactics of a broker. Hopefully FTMO is not doing this on purpose to fail your challenge. They seem legit, hopefully its not that.
  • #2,451
  • Jul 28, 2020 5:53am Jul 28, 2020 5:53am
Quoting Chris.GER
{quote} Hi Simon, the spread between 0.00 a.m. and 1.00 a.m (GMT+1) is erratic with LMAX datafeed. I would not trade during this time, and certainly not short term. https://www.forexfactory.com/thread/...3#post13069043 Regards Chris

Hi Chris, thanks for the advice! I'll keep that in mind.

I was moving up my SL after the first take profit level was reached so I might have to avoid such tactics around that time or possibly check out the admiral broker (seems to be the second best broker that they offer for fees)

Also, I'm very confident they are legit and I'm a 2% away from verification so it hasn't hindered my progress. It's just important to be aware of the limitations of LMAX at such times.
  • #2,452
  • Jul 28, 2020 6:22am Jul 28, 2020 6:22am
Quoting simon91
{quote} Hi Chris, thanks for the advice! I'll keep that in mind. I was moving up my SL after the first take profit level was reached so I might have to avoid such tactics around that time or possibly check out the admiral broker (seems to be the second best broker that they offer for fees) Also, I'm very confident they are legit and I'm a 2% away from verification so it hasn't hindered my progress. It's just important to be aware of the limitations of LMAX at such times.
No, it is not limitation of LMAX. It is manipulation of retail traders with wide spreads and spikes.
  • #2,453
  • Jul 28, 2020 8:57am Jul 28, 2020 8:57am
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.
Why not simply put a hedge on?
No SL to be triggered, keeps you in the trade past news. Just watch out for spreads widening, ie trade small.
  • #2,454
  • Jul 28, 2020 12:29pm Jul 28, 2020 12:29pm
Quoting SKLearn
{quote} Thank you. I was told that 4th one will be on hold...if I exhausted one, I can use that one... looks like I got a spare.
what do you mean by exhausting one? i thought if you break any of the rules all accounts get suspended isn't that right?
  • #2,455
  • Jul 28, 2020 6:40pm Jul 28, 2020 6:40pm
Quoting hesit
{quote} what do you mean by exhausting one? i thought if you break any of the rules all accounts get suspended isn't that right?
Only the account with rule breakage is cancelled.

Definite pros/cons to consolidating funded accounts.
A consolidated funded account is much easier to manage, however creates greater importance to follow rules as it is the only egg in the basket at that point.

  • #2,456
  • Jul 28, 2020 7:57pm Jul 28, 2020 7:57pm
Quoting Swing4Fence
{quote} Only the account with rule breakage is cancelled. Definite pros/cons to consolidating funded accounts. A consolidated funded account is much easier to manage, however creates greater importance to follow rules as it is the only egg in the basket at that point.
You just need to have three more funded accounts waiting on the wings.
  • #2,457
  • Jul 30, 2020 2:30am Jul 30, 2020 2:30am
Quoting Swing4Fence
{quote} Only the account with rule breakage is cancelled. Definite pros/cons to consolidating funded accounts. A consolidated funded account is much easier to manage, however creates greater importance to follow rules as it is the only egg in the basket at that point.
If you have 3 at any given time, could always combine 2 (for lower risk strategies) and leave the other 1 for higher risk/reward.

Once someone has passed the challenge/verification and they start trading a live account, can the trades from this live account be automatically copied on a new challenge account? Would be a lot easier to manage.
  • #2,458
  • Jul 30, 2020 6:10am Jul 30, 2020 6:10am
Quoting ia1979
{quote} If you have 3 at any given time, could always combine 2 (for lower risk strategies) and leave the other 1 for higher risk/reward. Once someone has passed the challenge/verification and they start trading a live account, can the trades from this live account be automatically copied on a new challenge account? Would be a lot easier to manage.
I don't see why not.

Masterrmind.........
Master your Mind then Master your Trades
  • #2,459
  • Edited 10:30pm Jul 30, 2020 6:38am | Edited 10:30pm
Quoting bojack34
{quote} You just need to have three more funded accounts waiting on the wings.
I thought there's an expiration date for accounts?

Quoting ia1979
{quote} If you have 3 at any given time, could always combine 2 (for lower risk strategies) and leave the other 1 for higher risk/reward. Once someone has passed the challenge/verification and they start trading a live account, can the trades from this live account be automatically copied on a new challenge account? Would be a lot easier to manage.
They don't limit the ways we trade, as long as you don't copy an existing FTMO funded account, then it's fine.

------------------------------------------------

I find the rules restricting and at the same very effective. Most traders are used to having a small account and huge drawdown. The rules when followed, actually shows a lot of flaws on how we (at least me) trade and prepares me to handle a larger account. I do hope they don't change the rules a lot.

UPDATE:
Failed my first attempt due to max 5k daily drawdown. Time to adjust my risk again. xD
Might as well close trade midway US session just to be on the safe side. I'm trying again next week.
adapt or be killed
  • #2,460
  • Edited 6:15am Jul 31, 2020 6:04am | Edited 6:15am
Quoting slappymove
{quote} I thought there's an expiration date for accounts? {quote}

They don't limit the ways we trade, as long as you don't copy an existing FTMO funded account, then it's fine. ---
Some clarification
- below according to direct email reply from FTMO Support - duplicating the email would be optimum but email states sharing not possible without permission - no time

The gist is -

  1. Not allowed - to copy the trades from other traders who are also funded traders.
  2. Allowed - to copy the trades from your funded account to your other funded account.
  3. FTMO can also merge your separate funded accounts into one big (composite) funded account.

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