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FTMO - For serious traders

  • #4,101
  • Oct 11, 2020 4:54pm Oct 11, 2020 4:54pm
Quoting mtako
All interesting good points ! And a few good stories, thanks for that, great laughs ! But, as we all know, there are 2 sides to the coin. Yes the challenge is a &!*$(#&! But they are looking for the exceptional. After the challenge, the deal is reasonable for specific type of strategies and a good disciplined trader who knows perfectly a perfect MoneyMngmt adapted to his diversified array of strategies, brave combined forces to take on the conflicting movements of the market blabliblalballbalb let me take my breath NOW. After the challenge. No profit...
They don't allow limit orders. They kinda do but they don't allow them during news. I trade multiple pairs and they have news of various kinds all the time. I basically am allowed to use market orders only.

So, what is a limit order? It is for those of us who don't really think the current price is quite right yet. Maybe a better price is around the S/R. Maybe it is where you have projected it to be. Why the dude that operates any of these basically loan shark places can dictate to me that I need to enter at market price? That requires me sitting at my computer 24/5 waiting for that price to reach my target. Is that how they trade for themselves and find that the safest method? Oh, I forgot. they don't know how to trade. They actually do trade but not the FX market. They trade you until they decide to dump you and pick up another trader to trade.

They actually don't know why they don't allow limit orders. They just don't understand the concept and they call using limit orders a violation of their terms. I think they enforce that mostly during the news but like I say, there is a lot of of news.

I have been asked if I'm sticking it only to FTMO. On this point, yes I am. FTMO, as far as I remember looking at different joints is the only one like that but there maybe more clueless outlets around.
  • #4,102
  • Oct 11, 2020 5:17pm Oct 11, 2020 5:17pm
Quoting OutThere
{quote} They don't allow limit orders. They kinda do but they don't allow them during news. I trade multiple pairs and they have news of various kinds all the time. I basically am allowed to use market orders only. So, what is a limit order? It is for those of us who don't really think the current price is quite right yet. Maybe a better price is around the S/R. Maybe it is where you have projected it to be. Why the dude that operates any of these basically loan shark places can dictate to me that I need to enter at market price? That requires me...
C'mon man. The only time they do not allow limit or stop orders is during a 4 minute window around 7 news events MONTHLY and only on the affected instrument. You just keep coming up with more bullshit. Are you not good enough to pass? To me, it seems everyone in here posting negative comments just can't get the job done. Otherwise, why are you here? To save us all from the big, bad FTMO?
  • #4,103
  • Oct 11, 2020 5:21pm Oct 11, 2020 5:21pm
Quoting Artcool
I checked their rules again. Yes, it’s definitely a gold old scam, refined one but still one. Of course, I didn’t do the exact maths to assess the probability for a trader to recover his subscription fee and make money with them. It’s still possible of course. But, it’s unlikely to last more than a couple of months imho. Basically, you have to pay and then win on a 1:1 W/L with an additional restriction of 0.5 max loss per day to pass the challenge and not lose your fee. The big majority of traders will fail of course (the odds are heavily against...
Once again, incorrect info from someone just posting without having the info. I love you guys. The 5% daily only becomes smaller if you leave your profits in. It has already been discussed here that there is no reason to do so. So every month, take your profits out and the 5% is till the 5%. Besides, who the %$$%% is risking 5% daily? When they scale you every 4 months, that is the new amount the 5% is figured on, so that dollar amount will go up with scaling.
  • #4,104
  • Oct 11, 2020 5:24pm Oct 11, 2020 5:24pm
Quoting pipmaster77
{quote} C'mon man. The only time they do not allow limit or stop orders is during a 4 minute window around 7 news events MONTHLY and only on the affected instrument. You just keep coming up with more bullshit. Are you not good enough to pass? To me, it seems everyone in here posting negative comments just can't get the job done. Otherwise, why are you here? To save us all from the big, bad FTMO?
Well, since FTMO doesn't have an answer why they don't allow limit orders, maybe you could answer. They think it is voodoo.

I am not awake 24/5 to remove my limit orders 4 mins before the news. Check out the news tab of FF. There are more than 7 news times with 28 pairs. That means I need to constantly remove my limit orders or risk blowing out of the race. Why would I want to bypass a great opportunity to enter the market because some else suffers from market anxiety? I might as well not use them.

Yes, I might be able to trade without using limits but why? Why would I change my ways to submit to none traders? No, I haven't even tried to line up my trading to what they want. No motivation. I don't need to work for clueless people.
  • #4,105
  • Oct 11, 2020 5:33pm Oct 11, 2020 5:33pm
Quoting OutThere
{quote} Well, since FTMO doesn't have an answer why they don't allow limit orders, maybe you could answer. They think it is voodoo. I am not awake 24/5 to remove my limit orders 4 mins before the news. Check out the news tab of FF. There are more than 7 news times with 28 pairs. That means I need to constantly remove my limit orders or risk blowing out of the race. Why would I want to bypass a great opportunity to enter the market because some else suffers from market anxiety? I might as well not use them. Yes, I might be able to trade without using...
Please do your research before posting useless bullshit. There are 7 RESTRICTED events, most of the events you can trade right through. Do you guys even go to the FTMO site before posting your useless, incorrect bullshit. Seriously, enough already. Go troll another thread.
  • #4,106
  • Oct 11, 2020 5:34pm Oct 11, 2020 5:34pm
Quoting OutThere
{quote} They don't allow limit orders. They kinda do but they don't allow them during news....

They just don't understand the concept and they call using limit orders a violation of their terms. I think they enforce that mostly during the news but like I say, there is a lot of of news. I have been asked if I'm sticking it only to FTMO. On this point, yes I am. FTMO, as far as I remember looking at different joints is the only one like that but there maybe more clueless outlets around.

But they accept limit orders of course...

Check their calendar :

https://ftmo.com/en/calendar/

The restricted events are few, in my opinion, but I get it, for you it makes it impossible, sorry to hear.

This week, only one restricted event for currencies, for AUD. see screenshot.

I never trade during news, so I don't understand the pain you are going through, but really, check out their calendar, only their blue highlighted are news they dont allow you to trade on or have limit orders during. For me, there is not a lot. Too bad your strategies absolutely need to trade on these.

P.S thanks for the good stories, you really made me laugh earlier, which is not easy these days, cheers !
Attached Image (click to enlarge)
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #4,107
  • Oct 11, 2020 5:44pm Oct 11, 2020 5:44pm
Quoting pipmaster77
{quote} Once again, incorrect info from someone just posting without having the info. I love you guys. The 5% daily only becomes smaller if you leave your profits in. It has already been discussed here that there is no reason to do so. So every month, take your profits out and the 5% is till the 5%. Besides, who the %$$%% is risking 5% daily? When they scale you every 4 months, that is the new amount the 5% is figured on, so that dollar amount will go up with scaling.

What info don’t I have? The 5% allowed drawdown from the initial capital is in their rules. Of course, you can withdraw your profits if you make some instead of trying to compound, but why even come to Forex. The only advantage to Forex that I know is leverage and compounding.

Quote
Besides, who the %$$%% is risking 5% daily?

Obviously, you have no clue of real trading circumstances.
Keep working for your pimps...They will make you rich.
Don't give up on your dreams. Keep sleeping.
  • #4,108
  • Oct 11, 2020 5:51pm Oct 11, 2020 5:51pm
Quoting mtako
{quote} But they accept limit orders of course... Check their calendar : https://ftmo.com/en/calendar/ The restricted events are few, in my opinion, but I get it, for you it makes it impossible, sorry to hear. This week, only one restricted event for currencies, for AUD. see screenshot. I never trade during news, so I don't understand the pain you are going through, but really, check out their calendar, only their blue highlighted are news they dont allow you to trade on or have limit orders during. For me, there is not a lot. Too bad...
Thanks.

Yup, my trading is a continuation event for me. The market is a continuing beast. Any such removing parts of it hinders the outcome. My style of continuation trading and not interrupting the flow is that way because I like it so. That includes holding tru overnight and weekends and the best part is going tru the news, tweets and whatever else I as the trader decides. As such, FTMO in particular is more limiting than some others even tho the others aren't so hot either.

You know, they say trading is an art. There are 2 kinds of artists. Artists and commercial artists. I am the prior and I like it that way even tho I can act as a commercial artist and produce what I am told and revise that also. Right now the funding industry is completely void of any consideration for none commercial artists. Can we state that as a thoroughly true fact? Can we assume if the art taste revolved only around commercial art, there may not be a Picasso or Dali or Monet? The limitations imposed on commercial artists didn't mean that such artists stopped doing what they loved most and succumbed to making art for McDonald's commercials. Life goes on without McDonald's contracts.

That is all.

Peace.
  • #4,109
  • Oct 11, 2020 5:56pm Oct 11, 2020 5:56pm
Quoting OutThere
{quote} Thanks. Yup, my trading is a continuation event for me. The market is a continuing beast. Any such removing parts of it hinders the outcome. My style of continuation trading and not interrupting the flow is that way because I like it so. That includes holding tru overnight and weekends and the best part is going tru the news, tweets and whatever else I as the trader decides. As such, FTMO in particular is more limiting than some others even tho the others aren't so hot either. You know, they say trading is an art. There are 2 kinds of artists....
When you say that is all does that really mean your done? I'm sure most here would love that.
  • #4,110
  • Oct 11, 2020 5:58pm Oct 11, 2020 5:58pm
Quoting pipmaster77
{quote} When you say that is all does that really mean your done? I'm sure most here would love that.
I'm not the type who goes for most here or there or anywhere loving me. Thanks for the confirmation.
  • #4,111
  • Oct 11, 2020 6:00pm Oct 11, 2020 6:00pm
Quoting Artcool
{quote} What info don’t I have? The 5% allowed drawdown from the initial capital is in their rules. Of course, you can withdraw your profits if you make some instead of trying to compound, but why even come to Forex. The only advantage to Forex that I know is leverage and compounding. {quote} Obviously, you have no clue of real trading circumstances. Keep working for your pimps...They will make you rich.
Yes, you need compounding when trying to grow an account. This is exactly the market FTMO provides, give you the large account from the get go. Therefore, I can take my profits every month. The money they scale you, the 5% figure moves with it. When you state I have no clue of real trading circumstance, whatever the hell that means.... Are you saying it is normal to risk 5% daily? Anyone else wanna chime in on that one?
  • #4,112
  • Oct 11, 2020 7:02pm Oct 11, 2020 7:02pm
Quoting pipmaster77
{quote} C'mon man. The only time they do not allow limit or stop orders is during a 4 minute window around 7 news events MONTHLY and only on the affected instrument. You just keep coming up with more bullshit. Are you not good enough to pass? To me, it seems everyone in here posting negative comments just can't get the job done. Otherwise, why are you here? To save us all from the big, bad FTMO?
you got the point.

Correct observation.
Intraday only.
  • #4,113
  • Oct 11, 2020 7:27pm Oct 11, 2020 7:27pm
Quoting pipmaster77
{quote} When you say that is all does that really mean your done? I'm sure most here would love that.
Couldn’t agree more.
  • #4,114
  • Oct 11, 2020 8:28pm Oct 11, 2020 8:28pm
I think I have managed to offend a few working girls here. Just continue the stellar work and remember to use protection.
  • #4,115
  • Oct 11, 2020 10:21pm Oct 11, 2020 10:21pm
Quoting OutThere
I think I have managed to offend a few working girls here. Just continue the stellar work and remember to use protection.
What is actually your point ? Massaging own ego ? Hmmmm...
  • #4,116
  • Oct 11, 2020 10:47pm Oct 11, 2020 10:47pm
Quoting snail69
{quote} What is actually your point ? Massaging own ego ? Hmmmm...
Now that you mention it, yes I could use some ego massaging. Volunteering?

No. Just voicing out my take on this thing.
Last time I checked this was a public forum about trading and I didn't see anywhere that expressing opinions weren't allowed.

Now, do you mind? I need to put some messaging oil on my ego...
but I can't find it.
Hard to massage it if I can't put my greasy fingers on it.
Where do you put your ego?
Maybe mine is there too.
  • #4,117
  • Oct 11, 2020 11:18pm Oct 11, 2020 11:18pm
Quoting OutThere
{quote} Now that you mention it, yes I could use some ego massaging. Volunteering? No. Just voicing out my take on this thing. Last time I checked this was a public forum about trading and I didn't see anywhere that expressing opinions weren't allowed. Now, do you mind? I need to put some messaging oil on my ego... but I can't find it. Hard to massage it if I can't put my greasy fingers on it. Where do you put your ego? Maybe mine is there too.
Yep, it's a public forum about trading.
But you sound like you've just paid for your first shag and want the whole world to know about it, either that or the moonshine has taken a hammering.
If its the moonshine then best remove the bottle before sitting down.
  • #4,118
  • Oct 11, 2020 11:28pm Oct 11, 2020 11:28pm
Quoting moodybot
{quote} Yep, it's a public forum about trading. But you sound like you've just paid for your first shag and want the whole world to know about it, either that or the moonshine has taken a hammering. If its the moonshine then best remove the bottle before sitting down.
Man...you are now tantalizing me.
shaq? A first shaq? I wish.
Moonshine? I wish.

You point me to either one of these, I am on my way.

First guy said something about massaging and now you talk shaqqing and moonshine.

I like it. Go on please.
  • #4,119
  • Oct 11, 2020 11:30pm Oct 11, 2020 11:30pm
Quoting OutThere
{quote} Man...you are now tantalizing me. shaq? A first shaq? I wish. Moonshine? I wish. You point me to either one of these, I am on my way. First guy said something about massaging and now you talk shaqqing and moonshine. I like it. Go on please.
Shag spelt with g....
  • #4,120
  • Oct 11, 2020 11:32pm Oct 11, 2020 11:32pm
Quoting moodybot
{quote} Shag spelt with g....
Yah. Like The spy who shagged me. No?
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