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FTMO - For serious traders

  • #2,781
  • Aug 17, 2020 11:32am Aug 17, 2020 11:32am
Quoting doyathink
"conditions are tough" : you can lose up to 1,000 in equity (open and closed trades) of your 10,000. So it's like working with 1,000, not 10,000. This is so you are not trading in a risky manner with other people's money. No lot limitations, as long as you don't break any conditions. If you achieve it early, you can just open and close tiny trades till the 10 days are done. Scalping is fine. No time requirements on trades in the qualification. Watch the spreads at rollover and weekends... if you have large positions they can put your equity over...
Thank you very much.

I am not new to trading and can understand easily the terminologies.

But in one of the forum, it is said that you are working 2k and not 10k.

So I was confused.
Intraday only.
  • #2,782
  • Aug 17, 2020 11:36am Aug 17, 2020 11:36am
No worries. Good luck with it all.
  • #2,783
  • Aug 17, 2020 11:39am Aug 17, 2020 11:39am
Quoting doyathink
No worries. Good luck with it all.
you are taking the challenge now or finished ?

Which part of Canada you are in ?

And also i read somewhere.. the reset time for loss measurement.. some time in CET.

What is EST time at which daily loss measurement is set ?
Intraday only.
  • #2,784
  • Aug 17, 2020 2:16pm Aug 17, 2020 2:16pm
I'm in BC...

on day 4 of the challenge...my second one.
I got blown out by the spreads holding too big a hedged position over the weekend on the first one. Had closed a few losing positions to where I figured I'd be safe, 1,000 to spare, but the spreads .... ouch. Over by $30. Nobody's fault but mine. Same thing happened on my first free trial... have to keep size down, down, down... or be out by rollover.

it resets at 1800 Eastern Standard, I believe. An hour after Lmax server rolls over. Not sure why... accounting convenience for FTMO I'd guess.
  • #2,785
  • Aug 17, 2020 2:31pm Aug 17, 2020 2:31pm
Quoting doyathink
I'm in BC... on day 4 of the challenge...my second one. I got blown out by the spreads holding too big a hedged position over the weekend on the first one. Had closed a few losing positions to where I figured I'd be safe, 1,000 to spare, but the spreads .... ouch. Over by $30. Nobody's fault but mine. Same thing happened on my first free trial... have to keep size down, down, down... or be out by rollover. it resets at 1800 Eastern Standard, I believe. An hour after Lmax server rolls over. Not sure why... accounting convenience for FTMO I'd guess....
Hey I'm in Canada too. Toronto here. Word of advice for the challenge if you're a day trader and not a swing trader is to risk .5% max per trade. And only trade one trade at a time. This will allow you 20 trades room before reaching the drawdown limit. Also, let your winners run if you can by somehow managing your trades, this is what I do personally but everyone is different.

In any case just be careful and don't get to greedy. It's ok to cut some trades if the risk doesn't make sense.

There's always another day.
  • #2,786
  • Aug 17, 2020 2:37pm Aug 17, 2020 2:37pm
Quoting doyathink
I'm in BC... on day 4 of the challenge...my second one. I got blown out by the spreads holding too big a hedged position over the weekend on the first one. Had closed a few losing positions to where I figured I'd be safe, 1,000 to spare, but the spreads .... ouch. Over by $30. Nobody's fault but mine. Same thing happened on my first free trial... have to keep size down, down, down... or be out by rollover. it resets at 1800 Eastern Standard, I believe. An hour after Lmax server rolls over. Not sure why... accounting convenience for FTMO I'd guess....
so, it is almost when Asia opens...1800 hrs EST.

For toronto people, Asia starts at 5 pm EST. Tokyo at 8 pm est
Intraday only.
  • #2,787
  • Aug 17, 2020 2:38pm Aug 17, 2020 2:38pm
Quoting doyathink
I'm in BC... on day 4 of the challenge...my second one. I got blown out by the spreads holding too big a hedged position over the weekend on the first one. Had closed a few losing positions to where I figured I'd be safe, 1,000 to spare, but the spreads .... ouch. Over by $30. Nobody's fault but mine. Same thing happened on my first free trial... have to keep size down, down, down... or be out by rollover. it resets at 1800 Eastern Standard, I believe. An hour after Lmax server rolls over. Not sure why... accounting convenience for FTMO I'd guess....
which broker they offer and you use >
Intraday only.
  • #2,788
  • Aug 17, 2020 2:46pm Aug 17, 2020 2:46pm
Thanks for that, vip! Wise.

Yes, .5 makes sense, though I'm an algo trader, so lots of small trades going at any one time, or at least that's the plan. They'll last from a few minutes to a few days, depending on market movement. On both failures I got into too large a trade right off due to technical mistakes on my part and differences in platform minimum sizes... again, my bad for not giving closer scrutiny to things. I should have taken the loss, looking back on it. In my own accounts when that happens I'll often challenge myself by trading out of it instead. That didn't quite work on Lmax...
  • #2,789
  • Aug 17, 2020 2:50pm Aug 17, 2020 2:50pm
Quoting doyathink
Thanks for that, vip! Wise. Yes, .5 makes sense, though I'm an algo trader, so lots of small trades going at any one time, or at least that's the plan. They'll last from a few minutes to a few days, depending on market movement. On both failures I got into too large a trade right off due to technical mistakes on my part and differences in platform minimum sizes... again, my bad for not giving closer scrutiny to things. I should have taken the loss, looking back on it. In my own accounts when that happens I'll often challenge myself by trading out...
Oh your an algo based trader.....
My experience with algos is that due to market changing constantly they don't always work how you want. I have made some profit using an algo that I spent about 3 years on, all in all it made about 50% in 6 months but the drawdown and profit was not as expected..

I only trade manually now based on that experience. Not saying that algos don't work, but you need to constantly tweak them to adapt with the market and that can cost a lot of money.

Trading manually allows much more freedom and less stress if you take it slow.

I wish you good luck with it though, keep us posted with updates.
  • #2,790
  • Aug 17, 2020 3:00pm Aug 17, 2020 3:00pm
Quoting viptrading
{quote} Oh your an algo based trader..... My experience with algos is that due to market changing constantly they don't always work how you want. I have made some profit using an algo that I spent about 3 years on, all in all it made about 50% in 6 months but the drawdown and profit was not as expected.. I only trade manually now based on that experience. Not saying that algos don't work, but you need to constantly tweak them to adapt with the market and that can cost a lot of money. Trading manually allows much more freedom and less stress if you...
Constant tweak is due fixed behavior. It works for a kind of market and you have modify behavior when markets changes. But this is changing now and new systems are more dynamic ( talking about FF stuff )
Try don't lose pants never...
  • #2,791
  • Aug 17, 2020 3:09pm Aug 17, 2020 3:09pm
Quoting doyathink
I'm in BC... on day 4 of the challenge...my second one. I got blown out by the spreads holding too big a hedged position over the weekend on the first one. Had closed a few losing positions to where I figured I'd be safe, 1,000 to spare, but the spreads .... ouch. Over by $30. Nobody's fault but mine. Same thing happened on my first free trial... have to keep size down, down, down... or be out by rollover. it resets at 1800 Eastern Standard, I believe. An hour after Lmax server rolls over. Not sure why... accounting convenience for FTMO I'd guess....
just a silly question.

I signed up.

And it asked me to reset password, I did that.

What is the user name i should use to log into client area ?
Intraday only.
  • #2,792
  • Aug 17, 2020 5:21pm Aug 17, 2020 5:21pm
Quoting navk
{quote} you are taking the challenge now or finished ? Which part of Canada you are in ? And also i read somewhere.. the reset time for loss measurement.. some time in CET. What is EST time at which daily loss measurement is set ?
Hi navk, rollover for reset is at midnight CET - from the web site: "Be careful as the Maximum Daily Loss resets at midnight CE(S)T! ". If you want to check the time for your location just use this site: https://www.timeanddate.com/worldclo...&p1=204&p2=137

I did an example of Prague to Loa Angeles.

Cheers and good luck!
maahome
  • #2,793
  • Aug 17, 2020 7:29pm Aug 17, 2020 7:29pm
Quoting maahome
{quote} Hi navk, rollover for reset is at midnight CET - from the web site: "Be careful as the Maximum Daily Loss resets at midnight CE(S)T! ". If you want to check the time for your location just use this site: https://www.timeanddate.com/worldclo...&p1=204&p2=137 I did an example of Prague to Loa Angeles. Cheers and good luck! maahome
THANKS
Intraday only.
  • #2,794
  • Edited 2:05am Aug 18, 2020 12:49am | Edited 2:05am
Quoting Phylo
.... FTMO has recently dispensed with all other broker-liquidity sources.
Quoting TraderOtakar
- I understand that some clients are angry about it,
- but if we want to have better customer support and improve the user experience it was the only way. Before the change, 88% of our clients chose FTMO, while we had multiple providers.
My statement merely establishes a fact base for my follow-on statement and has nothing to do with customer anger - however, the remainder of answer explains strategic and logical reason for FTMO's actions and removes the mystery - the 'no explanation why they did that' - and is much appreciated.

It is also appreciated that no FTMO client or prospective client is in any position to know better than FTMO proprietors how to strategies FTMO operations.

However, having established the above - regarding referred client anger - perhaps other causes are more contributory - I minor edit a previous post.

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 of allied angers and of 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.

No further FTMO comment is sought - consider the post lobbying content.

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  • #2,795
  • Aug 18, 2020 7:59am Aug 18, 2020 7:59am
demo registered
Attached Image (click to enlarge)
Click to Enlarge Name: FF Trader MetaTrader 4 Terminal.png Size: 84 KB
Intraday only.
  • #2,796
  • Aug 18, 2020 11:46pm Aug 18, 2020 11:46pm
q question to you guys.

Mobile trading app not available with FTMO mt4 platform ?
Intraday only.
  • #2,797
  • Aug 18, 2020 11:55pm Aug 18, 2020 11:55pm
Quoting navk
q question to you guys. Mobile trading app not available with FTMO mt4 platform ?
Just download mt4 on your mobile phone and connect to the server. There is no ftmo only mt4 mobile app. MT4 is just software that gets a personalized icon/logo for windows. But it's the same software no matter the broker.
The best strategy is a profitable one.
  • #2,798
  • Aug 18, 2020 11:59pm Aug 18, 2020 11:59pm
i downloaded mt4 in mobile, connecting to server and chart appears.

But " open trade " button is disabled.

I tried in 2 mobiles.

both same problem
Intraday only.
  • #2,799
  • Aug 19, 2020 1:14am Aug 19, 2020 1:14am
Quoting navk
i downloaded mt4 in mobile, connecting to server and chart appears. But " open trade " button is disabled. I tried in 2 mobiles. both same problem
This most likely is because of the pair you are choosing Make sure it's not one of the disabled pairs. If it's lmax server, it should end in lmax.
Example: EURUSD.lmax
The best strategy is a profitable one.
  • #2,800
  • Aug 19, 2020 1:34am Aug 19, 2020 1:34am
Quoting AnRan
{quote} This most likely is because of the pair you are choosing Make sure it's not one of the disabled pairs. If it's lmax server, it should end in lmax. Example: EURUSD.lmax
my server

FFTraderSRO-Demo
Intraday only.
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