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FTMO - For serious traders

  • #3,941
  • Oct 2, 2020 4:02am Oct 2, 2020 4:02am
Quoting IveGotQuads
Finally gone through the challenge and I must say it was a little humbling and educational. Definitely have to have a system that you trust before heading into managing a live account. {image}
Would be interesting to see the metrix area (expectancy, n. trades, lots..). Congratulations!

Quoting Degolep
Why dont you guys use Purple trading? Its stable, low enough commisions. Can someone explain to me if Ftmo lmax wouldnt have technical issues what would the actual benefits be over Purple trading?
Becouse you cant. They removed all brokers. You only have "ftmo platform" (Lmax?)
  • #3,942
  • Oct 2, 2020 4:31am Oct 2, 2020 4:31am
Quoting IveGotQuads
Finally gone through the challenge and I must say it was a little humbling and educational. Definitely have to have a system that you trust before heading into managing a live account. {image}
Great job, knew you'd pass. The money management skills of a poker bankroll carry right over to trading.
  • #3,943
  • Oct 2, 2020 4:34am Oct 2, 2020 4:34am
Quoting Degolep
Why dont you guys use Purple trading? Its stable, low enough commisions. Can someone explain to me if Ftmo lmax wouldnt have technical issues what would the actual benefits be over Purple trading?
Is it still offered? My understanding is FTMO Server is only option now. Which I believe is a combination of LMAX with 1 or more additional LP's. Not 100% sure though. It was my only option though.
  • #3,944
  • Oct 2, 2020 4:35am Oct 2, 2020 4:35am
Quoting Atenoip
{quote} Maybe becouse this is a thread about FTMO..
Nice observation.
  • #3,945
  • Oct 2, 2020 4:59am Oct 2, 2020 4:59am
Quoting Degolep
Why dont you guys use Purple trading? Its stable, low enough commisions. Can someone explain to me if Ftmo lmax wouldnt have technical issues what would the actual benefits be over Purple trading?
Because it is based in Cyprus. LOL.
  • #3,946
  • Oct 2, 2020 5:06am Oct 2, 2020 5:06am
Quoting pipmaster77
{quote} Is it still offered? My understanding is FTMO Server is only option now. Which I believe is a combination of LMAX with 1 or more additional LP's. Not 100% sure though. It was my only option though.
No Purple is still available. Lmax only, is only offered for USA residents.
Quoting Trader4818
{quote} Because it is based in Cyprus. LOL.
So what? It's a demo account.
Anything above the line is an uptrend, below the line is a downtrend.
  • #3,947
  • Oct 2, 2020 6:59am Oct 2, 2020 6:59am
Quoting pipmaster77
{quote} Great job, knew you'd pass. The money management skills of a poker bankroll carry right over to trading.
Thank you Pipmaster and everyone, much appreciated. I'll try and share both the next stage and hopefully the funded one. I broke all my rules of trading, wasn't patient, multiple lot sizing and wasn't consistent, heck maybe even gambled 1 or 2 times. Beginning to find out that discipline is the number 1 factor for success here. I need to work on that. Good luck to everyone else!!
  • #3,948
  • Oct 2, 2020 9:06am Oct 2, 2020 9:06am
I got the verification login credentials within 2 hrs and ready to roll at this time, pretty quick if you ask me. From the metrics it seems just trading 1 pair is the way to go for me. Its been a little bit of realization here and there to figure out what works for the challenge and for your system.
  • #3,949
  • Oct 2, 2020 11:18am Oct 2, 2020 11:18am
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Determination + Persistence = Success
  • #3,950
  • Oct 2, 2020 2:10pm Oct 2, 2020 2:10pm
Quoting IveGotQuads
I got the verification login credentials within 2 hrs and ready to roll at this time, pretty quick if you ask me. From the metrics it seems just trading 1 pair is the way to go for me. Its been a little bit of realization here and there to figure out what works for the challenge and for your system.
I agree totally with you
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  • #3,951
  • Oct 2, 2020 2:33pm Oct 2, 2020 2:33pm
Quoting SKLearn
{image}
Now if you could just do that every day on a funded account. On a 300K account, your share would be $400,000 per month. I'm going to be very happy with my $20,000 per month.
  • #3,952
  • Oct 2, 2020 2:44pm Oct 2, 2020 2:44pm
Quoting pipmaster77
{quote} Now if you could just do that every day on a funded account. On a 300K account, your share would be $400,000 per month. I'm going to be very happy with my $20,000 per month.
That kind of performance aren't realistic at all. Performing a 10% per day in a few month you will be richest man on earth.
10% in a month is a huge performance
An AVERAGE of 5% per month is a realistic target for retails experienced and talented traders in my opinion
  • #3,953
  • Oct 2, 2020 4:10pm Oct 2, 2020 4:10pm
Quoting Atenoip
{quote} That kind of performance aren't realistic at all. Performing a 10% per day in a few month you will be richest man on earth. 10% in a month is a huge performance An AVERAGE of 5% per month is a realistic target for retails experienced and talented traders in my opinion
I agree. The response of $400K per month was sarcasm. When people post passing the challenge in one trade, it always makes me laugh. Gambling at it's finest.
  • #3,954
  • Oct 2, 2020 4:47pm Oct 2, 2020 4:47pm
Quoting pipmaster77
{quote} I agree. The response of $400K per month was sarcasm. When people post passing the challenge in one trade, it always makes me laugh. Gambling at it's finest.
He passed the challenge in 1 day (~23 trades). It doesn't seem like gambling to me unless all the trades were executed around the same time, on the same pair and in the same direction.
  • #3,955
  • Oct 2, 2020 6:45pm Oct 2, 2020 6:45pm
Quoting pipmaster77
{quote} Now if you could just do that every day on a funded account. On a 300K account, your share would be $400,000 per month. I'm going to be very happy with my $20,000 per month.
I agree with your thoughts. However I have yet to see any proof traders have remained on their books and earned a nice wage for a year or more. I know of two good Forex Factory traders who only last less than six months as a FTMO trader before they hit the daily limit and loss their funding. Neither of them returned.
Why?

Good luck with your journey.
Trading thin liquidity at the boundary of the charts
  • #3,956
  • Oct 2, 2020 7:06pm Oct 2, 2020 7:06pm
funded account
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  • #3,957
  • Oct 2, 2020 7:13pm Oct 2, 2020 7:13pm
Quoting RickM
{quote} I agree with your thoughts. However I have yet to see any proof traders have remained on their books and earned a nice wage for a year or more. I know of two good Forex Factory traders who only last less than six months as a FTMO trader before they hit the daily limit and loss their funding. Neither of them returned. Why? Good luck with your journey.
"good traders" and hitting max daily loss with a funded account is a contradiction in my book. With a funded account there is no profit target so there is no need to risk so much on a single day.
  • #3,958
  • Oct 2, 2020 8:06pm Oct 2, 2020 8:06pm
Quoting Dmh
{quote} "good traders" and hitting max daily loss with a funded account is a contradiction in my book. With a funded account there is no profit target so there is no need to risk so much on a single day.
Perhaps I should use the words ‘“over confident traders”.
Come on Dmh, you know your best mates don’t like to hear the truth sometimes.
Trading thin liquidity at the boundary of the charts
  • #3,959
  • Oct 2, 2020 9:27pm Oct 2, 2020 9:27pm
Quoting Dmh
{quote} "good traders" and hitting max daily loss with a funded account is a contradiction in my book. With a funded account there is no profit target so there is no need to risk so much on a single day.
I agree 100%. Any good system can make money, the skill in trading is your risk management. You can have two people trading the same exact system, one is profitable, the other constantly blowing accounts. If a "good" trader is losing 5% in a day, the trade sizes are way to big. I risk about 0.3% per trade, there is no way I will ever hit daily loss limit. I can trade extremely small and still hit 0.5% per day. Need to adjust your lot size to the ADR of the pairs you are trading. With a 300K account, you can trade such small sizes and still make a tremendous amount of money. I've only had my funded account for a week, but I plan on having a 600K account in 16 months. I will post my profit split every month.
  • #3,960
  • Oct 2, 2020 9:31pm Oct 2, 2020 9:31pm
Quoting pintubesar1
funded account {image}
Nice work. Close to 30K is your share. That's awesome.
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