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FTMO - For serious traders

  • #3,981
  • Oct 3, 2020 4:25pm Oct 3, 2020 4:25pm
Quoting Dmh
{quote} See this post. {image}https://www.forexfactory.com/thread/...9#post13162619
Thank you very much

Quoting pipmaster77
{quote} You should really research before posting incorrect info. Suppose some based their decision based on your post. Based on the correct info, I'll rephrase, I plan on having a 1,200,000 account in 32 months. You've posted 4 times in this thread and every reply to my posts seems to be argumentative or sarcastic. Any particular reason? Have I pissed you off somehow?
I read on ftmo Q&A that the maximum was 300k PER TRADER. If they have to explain properly their terms of use on an external forum it's not my fault.. They are not clear about it on their site (where I studied before answer here).. Calm down
  • #3,982
  • Oct 3, 2020 5:14pm Oct 3, 2020 5:14pm
Quoting OutThere
{quote} Don't waste your talent/skills on FTMO or similar joints. They take your money and assume you don't exist after that unless you pay them money again. Return the favor and assume they don't exist. What would you do if they hadn't spread their net to catch and fleece you? Avoid the trap and do what you would do without them.
Ahah your are so funny
  • #3,983
  • Oct 3, 2020 5:18pm Oct 3, 2020 5:18pm
Quoting emicovi
{quote} Ahah your are so funny
Any follow up on how easy it is to trade within their term?
How trustworthy and honest they are?
How you have managed to amass a ton of money doing it and without them it would be impossible?
How everyone should go learn to trade safely and not lose money and take advantage of OPM and laugh all the way to the bank?
How anyone can adjust their trading just a little bit and make them happy?
  • #3,984
  • Oct 3, 2020 5:23pm Oct 3, 2020 5:23pm
Quoting OutThere
{quote} Don't waste your talent/skills on FTMO or similar joints. They take your money and assume you don't exist after that unless you pay them money again. Return the favor and assume they don't exist. What would you do if they hadn't spread their net to catch and fleece you? Avoid the trap and do what you would do without them.
Yes, you are right. Everyone has 300K lying around to deposit with a forex broker. Even after the split, it's like trading a 210K account. They refund your challenge fee, so if you're good enough, it actually cost you nothing to trade a 210K account without risking any of your own money. But, hey, to each their own.
  • #3,985
  • Oct 3, 2020 5:25pm Oct 3, 2020 5:25pm
Quoting Atenoip
{quote} Thank you very much {quote} I read on ftmo Q&A that the maximum was 300k PER TRADER. If they have to explain properly their terms of use on an external forum it's not my fault.. They are not clear about it on their site (where I studied before answer here).. Calm down
It's on their site, under scaling plan.
  • #3,986
  • Edited 5:58pm Oct 3, 2020 5:45pm | Edited 5:58pm
Quoting pipmaster77
{quote} Yes, you are right. Everyone has 300K lying around to deposit with a forex broker. Even after the split, it's like trading a 210K account. They refund your challenge fee, so if you're good enough, it actually cost you nothing to trade a 210K account without risking any of your own money. But, hey, to each their own.
When did I say everyone has 300K?

You need 300K to trade? Do they hand you 300K right away or after many months/years?

Okay, you're saying eventually you will have 300K if like a good boy, you have traded their terms and consistently been given extra capital without violating their terms even by 1 cent.



So, you are really saying that because you need 300K, you are willing to do as they say.


I personally don't need 300K. Far from it. So far that I don't need to abide by their terms.
In fact, if they offered me 300K today, I'd cut them only 10% for their profit share. Banks pay what? 1% nowadays?
Or even I could offer them a subscription fee or anything else that I choose.
But, I am independent and I don't see why after years of putting my own capital on the line by 10's of 1000's and acquiring a skill for myself, I should CHANGE my system, to fall in line with their profit machine. I didn't make a workable system just to change it because someone is suffering from their trading idiosyncrasies and now I have to provide them their fix, so they throw me a boney.

It's just me...I can't be humbled. Especially by people who don't have a clue about trading.


As I was saying, anyone who doesn't need 300K in a hurry, can take the other challenge: Trade your own money. And don't become a slave to the master franchisee.


Having said all that, there are apparently lots of traders that do it and have huge smiles on their faces and think I'm funny. Not denying that but it doesn't humble me enough to bow.
  • #3,987
  • Oct 3, 2020 6:10pm Oct 3, 2020 6:10pm
Quoting OutThere
{quote} When did I say everyone has 300K? You need 300K to trade? Do they hand you 300K right away or after many months/years? Okay, you're saying eventually you will have 300K if like a good boy, you have traded their terms and consistently been given extra capital without violating their terms even by 1 cent. So, you are really saying that because you need 300K, you are willing to do as they say. I personally don't need 300K. Far from it. So far that I don't need to abide by their terms. In fact, if they offered me 300K today, I'd cut them only...
What is the size of the average retail forex account? 5K? 10K? Even if you are a phenomenal trader and earn 10% per month, what are you making $1,000 per month. Not even worth getting out of bed for. Yes, you can compound, if you want to keep a full-time job while doing so. You can get funded 300K within 20 days by doing 3 challenges ( all refundable). So, yes, in order to trade full time and not have a job (NOW THAT IS ABIDING BY SOMEONE ELSE'S RULES), prop firms offer a great solution. But , as I stated in my previous post, to each their own.
  • #3,988
  • Oct 3, 2020 6:14pm Oct 3, 2020 6:14pm
Look, at the end of the day, you'll have to agree to the terms of their contact. You don't write that. They do.

300K makes a 'successful' in theory trader very willing to agree.

These joints have all sorts of backdoor software running on your trading platform.
Their whole company's ideology is built on making money from this whole trading thing.
You know already that you can do wonders with mt4/5 with indys and EAs and scripts etc.
I wouldn't be surprised if they don't have a raft of programs running in the background protecting their assets.
They also have statistics on their side. A casino has and knows the statistics.
These ever flourishing funding firms have a solid plan to insert themselves without blowing up.

You as a trader are pawn. A pawn star of course but stars are born every night and they crash and die every night. That is the source of statistics.

So, basically, up to recently, trading by successful traders using OPM or subs or cuts or whatever has been all over the place.
These guys come in and structure the 'need to trade successfully with big money' into a profit generating endeavor and I think it's a successful one because new ones are appearing and some have newer innovative formats that sound more complex but at the end, everything is designed so the company makes money no matter what happens to traders. Traders pop up all the time. Company stays.

Instead of just accepting this arrangement, I encourage successful traders to do it on their own. Takes a while longer but at the end, you should be both proud and rich.
  • #3,989
  • Oct 3, 2020 6:17pm Oct 3, 2020 6:17pm
Quoting pipmaster77
{quote} What is the size of the average retail forex account? 5K? 10K? Even if you are a phenomenal trader and earn 10% per month, what are you making $1,000 per month. Not even worth getting out of bed for. Yes, you can compound, if you want to keep a full-time job while doing so. You can get funded 300K within 20 days by doing 3 challenges ( all refundable). So, yes, in order to trade full time and not have a job (NOW THAT IS ABIDING BY SOMEONE ELSE'S RULES), prop firms offer a great solution. But , as I stated in my previous post, to each their...
Ok, so you are the kind of trader who needs big money to make big money, otherwise it's not worth it.
Of course you couldn't trade without FTMO and such and you'd just stay poor or even drop out cause it'd not excite you.

Ok. I understand. I'm just not that type. So, you go ahead and do as before. Thanks.
  • #3,990
  • Oct 3, 2020 6:18pm Oct 3, 2020 6:18pm
Quoting OutThere
{quote} When did I say everyone has 300K? You need 300K to trade? Do they hand you 300K right away or after many months/years?
If you're really good, you can apply for 3 accounts of 100K and upon passing the 3 challenges and validation simultaneaously you get the 300K to trade with right after (and get your fees back). You can eventually get it as fast as within 20 days. If you can consistently make 10% a month on your funded account you get to withdraw 27K a month. (and not considering the scaling plan).
So please explain how you can achieve this monthly return on the average forex 1K to 5K account most retail traders have ??
  • #3,991
  • Oct 3, 2020 6:26pm Oct 3, 2020 6:26pm
Quoting OutThere
Look, at the end of the day, you'll have to agree to the terms of their contact. You don't write that. They do. 300K makes a 'successful' in theory trader very willing to agree. These joints have all sorts of backdoor software running on your trading platform. Their whole company's ideology is built on making money from this whole trading thing. You know already that you can do wonders with mt4/5 with indys and EAs and scripts etc. I wouldn't be surprised if they don't have a raft of programs running in the background protecting their assets. They...
You make valid points as well. For me, this works, their rules are simple, can't have more than 5% DD in a day and can never have 10% dd of original amount. I risk about 0.3 % per trade and am able to generate an average of 0.5% per day, so my style fits within their rules. On a side note, being based in the US, the CFTC regulated brokers offer no protection of your money, alternatively, you can use offshore "unregulated" brokers, of course, also no protection. This factors into my choice of prop firms as well, I have none of my own money at risk
  • #3,992
  • Oct 3, 2020 6:27pm Oct 3, 2020 6:27pm
Quoting OutThere
I encourage successful traders to do it on their own. Takes a while longer but at the end, you should be both proud and rich.
I think everyone know they're not the retail traders saviours!! they're here for the money too. Most people will fail, almost everyone who tries the challenges will fail, so what? Really good traders aren't around the corner anyway, everyone thinks they're the next superstar in trading so I get your message, but there's also an opportunity for many decent traders who don't have the capital to make a living from trading, and to try to get some from these programs. Who says you can't trade with them for a while and build your own personal account with the profits on the side? Most probably, that's what many are aiming at, if you can withdraw a whole year of profits and place it into your personal trading account, at some point you'll get 100% of your profits. And why not do both for as long as possible? Opportunities are everywhere IMHO. Just need to grab them cautiously and mindfully. Trade conservatively on your prop firm account and trade aggressively on your personal account. What stops you ?
  • #3,993
  • Oct 3, 2020 6:45pm Oct 3, 2020 6:45pm
Quoting tradista
{quote} I think everyone know they're not the retail traders saviours!! they're here for the money too. Most people will fail, almost everyone who tries the challenges will fail, so what? Really good traders aren't around the corner anyway, everyone thinks they're the next superstar in trading so I get your message, but there's also an opportunity for many decent traders who don't have the capital to make a living from trading, and to try to get some from these programs. Who says you can't trade with them for a while and build your own personal...
Yes, yes I know.

The fun way of looking at it is like a talent search game. 100 ppl audition per show...maybe more. The search company charges a fee for their time to access the applicants to see if they are star-worthy. Then they make it to the show and eventually if they do well and 'sell' X amount of songs n merch, then they are promoted farther, That makes all sense. That's how that Simon whatever his name is made his .5 billion.

BUT let me put it another way. Imagine Usain Bolt was trying to join a team. Now, I'm not saying I'm like him. Not at all but just for the sake of argument.
They tell him that they will put a laser degree measuring beam on him and he must keep his spine straight at all times and is allowed to have it off by .05%...or whatever the range is. If it gets past the .o5% by 1/1000th of a degree, the whistle goes off, he gets pulled off the course and loses his entry fee.

I'm just making these numbers up but assume the statistics say that a runner who keeps his spine straight and doesn't deviate is the most likely one to be a constant winner. Who has those statistics? Office people who can't run out of the building if there is a fire. I think Usain Bolt wouldn't like that contract. But again, maybe he is who he is because he can keep his spine straight by those limitations.
  • #3,994
  • Oct 3, 2020 6:47pm Oct 3, 2020 6:47pm
Quoting pipmaster77
{quote} You make valid points as well. For me, this works, their rules are simple, can't have more than 5% DD in a day and can never have 10% dd of original amount. I risk about 0.3 % per trade and am able to generate an average of 0.5% per day, so my style fits within their rules. On a side note, being based in the US, the CFTC regulated brokers offer no protection of your money, alternatively, you can use offshore "unregulated" brokers, of course, also no protection. This factors into my choice of prop firms as well, I have none of my own money...
Great post pipmaster. Hope everyone underdstands your post.
------‐-------------------------------------------
For others:

I can see both side's point. For some strategies, modifying it is like a ticking bomb. After years of practicing and trusting the system, now you need to modify so that you can get funded, and who knows when the modified strategy will fail. After challenge? Evaluation? When funded? To fix this, traders like me try the trial or a few challenges. In my case I failed 2x, 1 challenge and 1 verification. It costed me 1.3k but that is okay. That is usually what I loose in a set of trades or during bad days.

But let's look at the other side of the story, what if I passed and have a profit on my 1st month of getting funded? That would mean I get my profit split + got my evaluation fees refunded. Which then would mean the risk is 0% on me. I only need to worry about FTMO paying me - which most people on the internet including here in ff already proven that FTMO really pays their traders 70% of their split. No other risks.

If the evaluation fee is too much for you or you already have a decent capital and don't need more capital or you are concerned about the 30% split they will get from funding you, then FTMO is not for you.
adapt or be killed
  • #3,995
  • Oct 3, 2020 7:44pm Oct 3, 2020 7:44pm
Quoting slappymove
{quote} Great post pipmaster. Hope everyone underdstands your post. ------‐------------------------------------------- For others: I can see both side's point. For some strategies, modifying it is like a ticking bomb. After years of practicing and trusting the system, now you need to modify so that you can get funded, and who knows when the modified strategy will fail. After challenge? Evaluation? When funded? To fix this, traders like me try the trial or a few challenges. In my case I failed 2x, 1 challenge and 1 verification. It costed me...
another great post
Intraday only.
  • #3,996
  • Oct 3, 2020 8:25pm Oct 3, 2020 8:25pm
Quoting 4for4
Besides forex, I also trade commodities (Gold, Oil) and major indexes ... Will this kind of trading results pass the $10,000 FTMO Challenge? {image}{image}(September 2020)

I think you could easily pass if you cut down your size by 1/2 or even more towards 1/3rd. So, there you go. Minor adjustment. Piece of cake. It's just matter if you want them in or not.
  • #3,997
  • Oct 3, 2020 8:51pm Oct 3, 2020 8:51pm
Quoting OutThere
{quote} I think you could easily pass if you cut down your size by 1/2 or even more towards 1/3rd. So, there you go. Minor adjustment. Piece of cake. It's just matter if you want them in or not.
Do they allow micro lot-size (0.0x)? ...
Market is not random but unpredictable
  • #3,998
  • Oct 4, 2020 5:27am Oct 4, 2020 5:27am
Quoting OutThere
{quote} I think you could easily pass if you cut down your size by 1/2 or even more towards 1/3rd. So, there you go. Minor adjustment. Piece of cake. It's just matter if you want them in or not.
Finally, you gave the only reasonable advice after your long irrelevant rant.

Lmao I've had quite a good laugh reading your posts... I can't even tell if you're serious though, but If you are, using statements and words like "I won't bow", " master and slave" , "pawn", " I can't be humbled " "like a good boy"...

Like Damn son, what kind of destructive insecurities are you dealing with?

An investor offers you large sums of money (that many traders do not have access to) to trade for them and allows you keep 70% of the profits monthly, while giving you VERY reasonable risk parameters in order to protect YOU and themselves....... But all you see is them trying to enslave you? Humble you? Make you bow to them?

For an opportunity that wasn't FORCED on you? Lmao wtf man.

I've seen posts from you in the earlier pages that indicated some interest in the program, so i may be totally wrong but I'm guessing you've tried and probably failed repeatedly and you're just now REALIZING how bad your skills couldn't meet up with the requirements and you're not even qualified to be their slave, so you're going to spew this BS?. ...

You're barely even making any sense..

A wise business man would choose more RISK-FREE larger capital with a 70% profit split over a tiny fraction of that capital for 100% profit. If you don't understand that, simply because of unfounded pride or ego, then I'm sorry for you.
  • #3,999
  • Oct 4, 2020 5:33am Oct 4, 2020 5:33am
Quoting 4for4
{quote} Come to think of it, why should I share 30% of the profits when I can keep 100% to myself without anybody filtering what I can and cannot do ... Thank you for your suggestions ...

If you had spare $100,000 of your own money, or even $50,000 to trade , then you'd probably be stupid to take the challenge and only keep 70% of your profit.

But wait .... Even if you had that much spare money, wouldn't it be nice to be able to earn an extra 70% on someone else's $100,000 RISK-FREE?....



NOW, I'll assume you have only $5000 in your trading account. Thus, if you have to ask the question you asked above about earning 100% of profits on your 5k account compared to 70% of profits on someone else's 100k account, then you're most definitely crazier than OutThere..... and OutThere is really crazy.
  • #4,000
  • Oct 4, 2020 7:08am Oct 4, 2020 7:08am
Quoting Koop
{quote} If you had spare $100,000 of your own money, or even $50,000 to trade , then you'd probably be stupid to take the challenge and only keep 70% of your profit. But wait .... Even if you had that much spare money, wouldn't it be nice to be able to earn an extra 70% on someone else's $100,000 RISK-FREE?.... NOW, I'll assume you have only $5000 in your trading account. Thus, if you have to ask the question you asked above about earning 100% of profits on your 5k account compared to 70% of profits on someone else's 100k account, then you're most...
Thanks for the advice, but no, I’m content with what I’m currently doing without any restriction ...
Btw, no crazy person can give great advices, so OutThere is not crazy ...
Thanks again for trying to help me, OutThere ...
Market is not random but unpredictable
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