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FTMO - For serious traders

  • #2,661
  • Aug 9, 2020 5:18pm Aug 9, 2020 5:18pm
Quoting AnRan
{quote} I was waiting for this comment. But I swear, if you look at the two prop firms he asked for help about, he just made FTMO look that much better. So it's such a mute point, lol. .
Agree. FTMO looks so much better. That two props look like a high school project, based on Ponzi. Maybe I am wrong.
Hope I am wrong and that traders will have more choice and even better terms.
  • #2,662
  • Aug 9, 2020 5:34pm Aug 9, 2020 5:34pm
Quoting Tomas-ftmo
{quote}Hi AnRan, You have made several points that we would like to comment on.
1) Nightly rollovers - We already addressed the nightly rollover spreads multiple times here. Most traders know that the liquidity around that time is not great and thus avoid trading during that time, which then acts in a downwards liquidity spiralling effect. This situation is not unique to LMAX and is experienced by the vast majority of brokers who are not market makers. We would highly recommend not trading around the time of nightly rollovers for this exact reason....
So my review was more for other people, not really looking for a response from you. I understand the difference between a trader and an asset manager. We'll have two different perspectives. But since you annoyed me a little, I'll do a little educating. I'm new to this forum, I only joined to give other people a heads up. I didn't sit back and read 100 pages to find everything that was wrong with the trading conditions of a prop trading firm. Cause one doesn't really expect any. And then when someone points them out, you say "well I warned everyone of these issues". What? Don't warn, fix, or put it up on your website, not a third party forum.

1) You should learn the difference between a LP and a broker. LMAX is an LP that offers broker services. A broker uses multiple LP's, which gets transferred through the ECN system to whomever accepts the order at the best price (positive/negative slippage). If you choose a LP as your broker, depending on the broker, you can end up with worse pricing because no LP can be perfect in every market. And that's what a CFD is btw, trading against internal liquidity. So, a liquidity provider, BY DEFINITION, is a market maker. THIS IS INDISPUTABLE. " liquidity providers are typically institutions or banks that underwrite or finance equity or debt transactions and then make a market". So a LMAX server is trading in-house with a MM. What you're referring to is market manipulation, but that isn't really a big deal and I don't care about this. The whole trading against retail is just another excuse for retail. I do not think the large roll-over is done purposely. It's just LMAX sucks on Asia. Just don't try and educate me and then be wrong. An easy fix is to say, stick to majors during Asia or Asian based pairs in particular (AUD, NZD, JPY) until you introduce the additional LP's to avoid these rollover issues. That is a more fair response than "i told ya so"

2) It's not really your colleagues fault. If, as you said, the broker is constantly adding and removing disabled positions. Who wouldn't get slightly confused. But its a bit of fallacy because they aren't mini-contracts. A mini-contract expires. LMAX doesn't offer expiring, future-like contracts. It offers contracts for difference (CFD) (which again an internal pool, not the actual futures contract). So I don't really understand what you are trying to say. I did check the specification, they were the same, except for, unfortunately, the disable one. It's an honest mistake that is easily made considering I did check the similar named pairs and found the pricing the same. I should've done the free trial first, that is where the real mistake was.

3) Micro-gold. Again, doesn't really need a response. Just a heads up for other people. Not targeting FTMO. I've never seen a micro-gold with 2 decimals. Even nano-accounts are brought up to $1/pt even though the real value is 10cents. So just took me off guard was all. Not blaming you. One just needs to know what one is trading. I repeat, not targeting FTMO, just a heads up for other people.

4) I can't testify to knowing how your copy software works, or the live conditions. I can only say that you probably have thought it out properly for your risk appetite and what works best for you and your clients. And that is a fair point alone. But don't say someone is not mature, or not responsible because a trade hits a stop loss during news. If a trade is in the green 100 pips and the trader brings the stops in to make sure they walk away with at least 60 pips of the move, that's called being mature and responsible. Simply saying its a risk-related company policy because you copy trades from a demo to live is plenty sufficient.

Happy pipping
-AnRan
The best strategy is a profitable one.
  • #2,663
  • Edited Aug 10, 2020 2:46am Aug 9, 2020 8:36pm | Edited Aug 10, 2020 2:46am
Quoting Tomas-ftmo
Hello Everyone, As you noticed, we have made some major changes to our user interface and plan to release more changes soon. We finally released the MT5 and cTrader for our FTMO Platform. We hope you will like all the changes. We would like to apologise for the issues that some of you encountered. The change has brought in some minor bugs to our website. We are working extremely hard this week to make sure everything is fixed as soon as possible. Many of you showed unhappiness with capacities of our chat and email support. Given all the changes,...
From the perspective of ex practicing engineer - conversant with major change control and operational upgrading:

  1. objective experience would suggest that a major contributing factor to the above described overwhelmed phenomena is the failure to issue - prior to implementation - a forewarning of intended operational changes and upgrades. The result : an inundation of unnecessary inquiries due to headless-chicken-confusions that could have been efficiently reduced with one strategic operational blow - advance forewarning.
  2. most, given forewarning will figure - ah, notice of operational upgrades .... and website portals and support services falling over...... mmmm ..... most likely connected .....I'll hold my fire before shooting off six inquiries.

TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,664
  • Edited Aug 10, 2020 4:30pm Aug 9, 2020 8:39pm | Edited Aug 10, 2020 4:30pm
https://www.lmax.com/documents/LMAXE...-factsheet.pdf
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Last Look/No Last Look - https://www.forexfactory.com/thread/...1#post12928511
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #2,665
  • Aug 10, 2020 1:09am Aug 10, 2020 1:09am
Quoting newegg
{quote} But it's quite irresponsible to post a thread promoting other retail prop firms on a competitor's thread.
Why? do you think FTMO are quaking in their boots newegg?

And I am not promoting any other prop firms. They are not paying me a bean! But it does give people more knowledge of what is out there, more choice and everyone is free to choose

The MODEL looks interesting and I'm giving a small account a go at the same time there is no harm in having an FTMO account as well is there?

Why not have accounts with two or three dfifferent prop firms?

Anyway the proof will be in the pudding
  • #2,666
  • Aug 10, 2020 2:32am Aug 10, 2020 2:32am
Not sure if anyone here is interested but I have a free telegram group to discuss trading and have recently also passed phase 1 of my FTMO challenge after failing one time.

I think it would be a good idea to come together as a group for those who may need help or whatever.

I can post the link here or you can DM me for the link like I said im not selling anything just trying to build a little telegram group for FTMO challenge goers.
  • #2,667
  • Aug 10, 2020 3:31am Aug 10, 2020 3:31am
Is there any group for someone who failed 4 times on a row,in the order of 25k,50k,100k 10k challenges..
on a postive roll...
  • #2,668
  • Aug 10, 2020 4:15am Aug 10, 2020 4:15am
Quoting Rmg
Is there any group for someone who failed 4 times on a row,in the order of 25k,50k,100k 10k challenges..
Traders Anonymus?
there is always, always another trade!!
  • #2,669
  • Edited Aug 11, 2020 1:50am Aug 10, 2020 4:30am | Edited Aug 11, 2020 1:50am
Quoting Rmg
Is there any group for someone who failed 4 times on a row,in the order of 25k,50k,100k 10k challenges..

I'm thinking of a group that will objectively evaluate the pros and cons of different prop firms without bias. Yes! such group will also address the reasons why someone may fail umpteenth times in a row in one prop firm and succeed with another at first shot.
  • #2,670
  • Aug 10, 2020 4:55am Aug 10, 2020 4:55am
Quoting Masterrmind
{quote} Not just yet though. I think some time is needed for them to get their site functioning correctly. If you have a look at Snail69's post where he mentions issues with account data, this could be very frustrating for the trader. I also had some weird data values on my demo trial run but I'm not concerned since it is just a test run mainly to check spread, general trading operations, slippage on exit and if I think it's workable. So far I had one unusual spike but apart from that the spreads were fine and no major issues detected but I only...
Today I was informed by support that within today the issue should be resolved and all should turn "green". Also, asked about possible balance increase and daily loss limit.

a) when trader decides to leave profits, daily loss stays the same - 5% daily out of e.g. 100K USD 5000.-

b) to my understanding, in case of increase of trading balance after "level up" by FTMO, after meeting the terms, this limit is also increased to 5% out of the new balance.
  • #2,671
  • Aug 10, 2020 7:10am Aug 10, 2020 7:10am
Quoting snail69
{quote} Today I was informed by support that within today the issue should be resolved and all should turn "green". Also, asked about possible balance increase and daily loss limit. a) when trader decides to leave profits, daily loss stays the same - 5% daily out of e.g. 100K USD 5000.- b) to my understanding, in case of increase of trading balance after "level up" by FTMO, after meeting the terms, this limit is also increased to 5% out of the new balance.
Nice to know that support takes your enquiries seriously.

Yes 5% out of new balance when scaling up.

The Max Daily Loss is the main one to be concerned about even if compounding by leaving your profit split in the funded account.

Exceed this threshold and it's lights out.

The advantage of having extra funds in the account is for those times when multiple losing days occur.

The account metrics will show this value but just be aware of update timing as it may be lagging and is therefore not reliable at the current time.

Best to have an indicator attached to your chart with display plus push notifications to keep you always up to date with current proximity to trading objective limits.

But for this you really should have the account setup on a VPS with 100% 'guaranteed' uptime.

Personally, I will most likely have only the funded account setup on a VPS since hopefully it will be a 300K account all going well.

When do you plan to take a 100K challenge ?

Masterrmind .........
Master your Mind then Master your Trades
  • #2,672
  • Aug 10, 2020 8:19am Aug 10, 2020 8:19am
Quoting Masterrmind
{quote} Best to have an indicator attached to your chart with display plus push notifications to keep you always up to date with current proximity to trading objective limits.
Thats what the purpose of the mentor app is. https://ftmo.com/en/get-mentor-app/

Inserted Video
Trade with confidence, trade without fear.
  • #2,673
  • Aug 10, 2020 8:50am Aug 10, 2020 8:50am
Quoting Cryptosurf
{quote} Thats what the purpose of the mentor app is. https://ftmo.com/en/get-mentor-app/ https://youtu.be/bliSFMubb5o
Yes you can use the mentor app or your own dedicated indicator.

Masterrmind........
Master your Mind then Master your Trades
  • #2,674
  • Aug 10, 2020 9:22am Aug 10, 2020 9:22am
Quoting piple
{quote} I'm thinking of a group that will objectively address the pros and cons of different prop firms without bias. Yes! such group will also address the reasons why someone may fail umpteenth times in a row in one prop firm and succeed with another at first shot.

gametheory says: it takes 8 friends at minimum to get one funded account

.......................1+
..............2+
.....4+...........1-
8............2-
......4-
  • #2,675
  • Aug 10, 2020 10:04am Aug 10, 2020 10:04am
Quoting eztrader1
{quote} gametheory says: it takes 8 friends at minimum to get one funded account .......................1+ ..............2+ .....4+...........1- 8............2- ......4-
and after we have 10 funded accounts from maybe 100 friends!
a few months later .. 3 or 5 survive!
  • #2,676
  • Aug 10, 2020 10:24am Aug 10, 2020 10:24am
All I know is survivors wouldn't be posting statistics in here .
on a postive roll...
  • #2,677
  • Aug 10, 2020 12:11pm Aug 10, 2020 12:11pm
Quoting Rmg
All I know is survivors wouldn't be posting statistics in here .
who already has those statistics could share it! ftmo maybe
  • #2,678
  • Aug 10, 2020 9:10pm Aug 10, 2020 9:10pm
Quoting Masterrmind
{quote} Nice to know that support takes your enquiries seriously. Yes 5% out of new balance when scaling up. The Max Daily Loss is the main one to be concerned about even if compounding by leaving your profit split in the funded account. Exceed this threshold and it's lights out. The advantage of having extra funds in the account is for those times when multiple losing days occur. The account metrics will show this value but just be aware of update timing as it may be lagging and is therefore not reliable at the current time. Best to have an indicator...
August tends to be the slowest month acc to my observations through the years. Maybe in September. Now, thinking how to manage concurrent accounts/ challenges.
  • #2,679
  • Aug 11, 2020 6:22am Aug 11, 2020 6:22am
I started yesterday last test before try challenge. If I can make at least 2.5k per week then I think I will pass 100k challenges with zero stress ( I will not need trade myself )
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Try don't lose pants never...
  • #2,680
  • Aug 11, 2020 7:37am Aug 11, 2020 7:37am
I remember people notice unusual moves on FTMO-LMAX here. I noticed one too. There's a sudden spike down here not much but this one did not show on other brokers. Something smells fishy here. I hope I'm wrong.

M15 traders should be fine there. But, maybe they are targeting M1 trader stop outs???

Spread is terrible on LMAX too. However, spread is great on indices. Terrible, terrible spread on forex.
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