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FTMO - For serious traders

  • #3,861
  • Sep 27, 2020 11:49pm Sep 27, 2020 11:49pm
Quoting fx75
a very simple way to track your progress .. trade after trade and day after day... {image}
If I'm looking at it correctly, your chart is incorrect. The max daily loss resets every single day. There is no daily compounding of the account for the MDL. I made this mistake. It isn't 5% of the balance, its 5% of the original balance.

For example, if a 100k$ account made 25k in 1 day, all trades closed, nothing floating. So now the balance is $125,000, the next day your MDL is still only $5,000. The max total loss is $35,000, but the max daily is still 5% of the original balance, so just $5,000. FTMO doesn't allow daily or monthly compounding. Just another reason I do not understand why anyone would leave any money in their FTMO account rather than just withdraw their entire split and deposit it into their own accounts.
The best strategy is a profitable one.
  • #3,862
  • Sep 28, 2020 12:12am Sep 28, 2020 12:12am
Quoting AnRan
{quote} If I'm looking at it correctly, your chart is incorrect. The max daily loss resets every single day. There is no daily compounding of the account for the MDL. I made this mistake. It isn't 5% of the balance, its 5% of the original balance. For example, if a 100k$ account made 25k in 1 day, all trades closed, nothing floating. So now the balance is $125,000, the next day your MDL is still only $5,000. The max total loss is $35,000, but the max daily is still 5% of the original balance, so just $5,000. FTMO doesn't allow daily or monthly compounding....
That is nearly correct! The daily loss is correct but you can compound by leaving your share of the profits (or part of it) in the account from month to month. This does not change the daily loss however.

maahome
  • #3,863
  • Sep 28, 2020 2:04am Sep 28, 2020 2:04am
Quoting maahome
{quote} That is nearly correct! The daily loss is correct but you can compound by leaving your share of the profits (or part of it) in the account from month to month. This does not change the daily loss however. maahome
It's of no use if it does nothing for your account to leave some profits in. You would still have to trade the same way, within the same risk parameters.
  • #3,864
  • Sep 28, 2020 2:07am Sep 28, 2020 2:07am
The only reason I can think of is that for some strategies that have longer loss-streaks it might be good to have some buffer so that you can survive 3-4 losing days, but then I'd think that either the risk or the strategy needs tweaking...
It's never too late to make a bad trade!
  • #3,865
  • Sep 28, 2020 2:31am Sep 28, 2020 2:31am
Quoting maahome
{quote} That is nearly correct! The daily loss is correct but you can compound by leaving your share of the profits (or part of it) in the account from month to month. This does not change the daily loss however. maahome
You can't compound your own profits if you always base your risk on original balance. That is incorrect. FTMO doesn't take your money into account so it does nothing.

In order to compound you need to be able to use new profits to to make higher % returns under the same risk but you can never use new profits to calculate a higher % risk and/or RR.

If you calculate your trades by % risk per trade. As you made more money and didn't withdraw that money the value of the % would increase. So compounding gives you an exponential line of growth.

I'm on my phone so it'll be crude, 10k balance 2% risk 2:1 RR for example. I risked 200$ and made 400$ profit. Compounding means my next trade when I risk 2%, it's of 10,400$. So my new gain of 4% is 416$. But with ftmo your MDL resets, so it's always based on 10k USD. So I don't really make 4% of 10,400, I made 1.4% of 10,400, but still 4% of the original balance.

So zero day to day compounding regardless if you leave your funds in the account. It's another reason their ftmo matrix is flawed. You can't truly see a profit factor, z-score, expectancy, etc. In fact, a highly profitable strategy would have reduced stats over time cause you can't base risk on the new balance.
The best strategy is a profitable one.
  • #3,866
  • Sep 28, 2020 2:34am Sep 28, 2020 2:34am
Quoting paxilein
The only reason I can think of is that for some strategies that have longer loss-streaks it might be good to have some buffer so that you can survive 3-4 losing days, but then I'd think that either the risk or the strategy needs tweaking...
Your best bet is to just withdraw, pay the 25$ for a vps, put your personal account to follow the ftmo account with copy trade software. The software will base it on your personal accounts balance, so you'll see that exponential growth
The best strategy is a profitable one.
  • #3,867
  • Sep 28, 2020 4:12am Sep 28, 2020 4:12am
Even after a restart of MT4, still is the same... anybody has similar flaw on the graph of SPX500 ?
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  • #3,868
  • Sep 28, 2020 4:48am Sep 28, 2020 4:48am
Quoting snail69
Even after a restart of MT4, still is the same... anybody has similar flaw on the graph of SPX500 ? {image}
WORKING FOR ME.
Attached Image (click to enlarge)
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Intraday only.
  • #3,869
  • Edited 6:25am Sep 28, 2020 6:13am | Edited 6:25am
I trade 3 accounts with a trade copier, all traded identically. Currently -$2500 for the day. Metrix shows different loss figures on EVERY single account including -$6K for one which "violates" my loss. Will have to wait a day or two until thats investigated and set right cos its obviously wrong. In the meantime i cant trade. Very frustrating. Metrix isnt even delayed....its fundamentally incorrect.

Can they just stop with this metrix shit until they get it right and working? Its more detrimental to have an incorrect metrix service than none at all.

p.s im a big fan of FTMO but when my Metrix says I've failed the challenge when i haven't and I'm having to stop trading early in the week, well it makes the challenge psychologically just so much harder than it already is.
  • #3,870
  • Edited 7:51am Sep 28, 2020 7:30am | Edited 7:51am
Quoting AnRan
{quote} You can't compound your own profits if you always base your risk on original balance. That is incorrect. FTMO doesn't take your money into account so it does nothing. In order to compound you need to be able to use new profits to to make higher % returns under the same risk but you can never use new profits to calculate a higher % risk and/or RR. If you calculate your trades by % risk per trade. As you made more money and didn't withdraw that money the value of the % would increase. So compounding gives you an exponential line of growth....
That is not the case, as you progress with FTMO you can increase your capital via their scaling plan OR you can increase by using your own profits which then does increase draw downs etc. Please note this is based on the monthly start - you are correct there is no day to day compounding for the daily loss limit. Here is the extract from their website. I have also confirmed this with the support team:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 24 KB

Anyway, I don't want to start a back and forth on it - just saying you know. Good trades to all.

maahome
  • #3,871
  • Sep 28, 2020 7:32am Sep 28, 2020 7:32am
Quoting Koop
{quote} It's of no use if it does nothing for your account to leave some profits in. You would still have to trade the same way, within the same risk parameters.
Hi Koop, sorry I did not explain it well - see my post above: https://www.forexfactory.com/thread/...2#post13187582

You can increase drawdown limits (The percentage stays the same however, it can be reviewed over time, refer to the website for full details.

cheers
maahome
  • #3,872
  • Sep 28, 2020 7:38am Sep 28, 2020 7:38am
Quoting AnRan
{quote} If I'm looking at it correctly, your chart is incorrect. The max daily loss resets every single day..
yes, that chart is for the same day trading (Friday) ...
  • #3,873
  • Sep 28, 2020 8:01am Sep 28, 2020 8:01am
Quoting maahome
{quote} That is not the case, as you progress with FTMO you can increase your capital via their scaling plan OR you can increase by using your own profits which then does increase draw downs etc. Please note this is based on the monthly start - you are correct there is no day to day compounding for the daily loss limit. Here is the extract from their website. I have also confirmed this with the support team: {image} Anyway, I don't want to start a back and forth on it - just saying you know. Good trades to all. maahome
Everything you want in life is on the other side of fear.
  • #3,874
  • Sep 28, 2020 8:02am Sep 28, 2020 8:02am
Quoting maahome
{quote} That is not the case, as you progress with FTMO you can increase your capital via their scaling plan OR you can increase by using your own profits which then does increase draw downs etc. Here is the extract from their website. I have also confirmed this with the support team: {image} Anyway, I don't want to start a back and forth on it - just saying you know. Good trades to all. maahome
We are talking about a daily compounding from the max daily loss of the original balance. Not capital increases once every 4 months. The MDL is 5% of the original balance. You basically just said as you have a new, higher starting balance you have a higher MDL....duh...And that isn't compounding either, that's just a capital increase

On the second note, the money you would leave in there doesn't change that MDL because it's your money up first to lose. So if you left 1k in there, your risking 1% of 100k but that equals 100% of your left over profits. So again, nothing to gain by leaving funds in there.
.
The best strategy is a profitable one.
  • #3,875
  • Sep 28, 2020 8:03am Sep 28, 2020 8:03am
Quoting MoneyMeyka
{quote}
Lmao. When I first read it I felt this way. Like, this can't be serious
The best strategy is a profitable one.
  • #3,876
  • Sep 28, 2020 8:05am Sep 28, 2020 8:05am
Quoting AnRan
{quote} Lmao. When I first read it I felt this way. Like, this can't be serious
He just doesn't get it.
Everything you want in life is on the other side of fear.
  • #3,877
  • Sep 28, 2020 9:17am Sep 28, 2020 9:17am
Yes, max daily loss is quite simple. It is 5% of your starting capital ALWAYS. If you make 100% your 1st month and are sitting at 200K, your max loss is 110K, but daily loss is still 5K. When they scale you, they are, in essence, increasing your starting capital, so max daily loss would be 5% of the new balance, same as if you combine multiple accounts into 1. So everyone who is stating there is no benefit to keeping funds in, you are absolutely correct. Only exception is if you want the added buffer for a losing streak, but you would not be able to increase your risk per trade as you can still only lose 5K per day (on a 100K account).
  • #3,878
  • Sep 28, 2020 10:36am Sep 28, 2020 10:36am
Now Hana shows the procces of reciving the withdrawal step by step because there is so much noise around....
Inserted Video
  • #3,879
  • Sep 28, 2020 1:11pm Sep 28, 2020 1:11pm
Quoting mizi123
Now Hana shows the procces of reciving the withdrawal step by step because there is so much noise around.... https://www.youtube.com/watch?v=evkhcPugJbU
This goes to show the difficulty and respect that has to be given to the process. She apparently left that money as a cushion last month which she will be withdrawing after coming back from a draw-down. Much respect to her integrity and honesty, wishing her all the best luck in the future.
  • #3,880
  • Sep 28, 2020 2:21pm Sep 28, 2020 2:21pm
For S&P 500, I only see the instrument for futures. I thought Tomas said they would be ADDING futures, but it appears as only option now?
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