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FTMO - For serious traders

  • #5,121
  • Dec 30, 2020 3:22pm Dec 30, 2020 3:22pm
Quoting profitfarmer
{quote} i am sure if you look more carefully, should find 2 different options there... like this sample: {image}indeed, it isnt the same price. more, it will likely have different specifications too...margin, swap... {image}
doesn't really explain why two weeks ago it was tracking market and now its 100 points and i havent changed tabs/charts or anything on the platform.. just sayin', either way i trade whats infront of me.
  • #5,122
  • Dec 30, 2020 3:42pm Dec 30, 2020 3:42pm
Quoting Takisd
{quote} doesn't really explain why two weeks ago it was tracking market and now its 100 points and i havent changed tabs/charts or anything on the platform.. just sayin', either way i trade whats infront of me.
Rollover.
The broker price you a non expiring forward month, that smoothly rand automatically rolled over.
there is always, always another trade!!
  • #5,123
  • Dec 30, 2020 11:31pm Dec 30, 2020 11:31pm
Quoting pipmaster77
{quote} Just throwing this out there, as I violated my first challenge due to this.....I was up significantly for the day, I closed my winners and left my floating losses open(still way up for the day). When the FTMO day reset, those floating losses immediately violated daily loss for the next day. I actually lost my challenge with an account in profit. Is this a possible scenario? Like I said, just throwing it out there as I'm not sure what time of day this occurred for you.
Thanks pipmaster77
During the first two hours of the European Market

Quoting profitfarmer
{quote} was posted one earlier here. https://www.forexfactory.com/thread/...7#post13153367 tried. seem accurate. (however you will need to mind that FTMO's timezone for "day" may differ a few hours to the broker's actual time. a minor issue in my opinion).
Thanks profitfarmer
I had tested this indicator, but I don't know why, I had discarded it.
Re-tested with 8 others. Only one keeps historical data in memory and they are "almost" the same as FTMO (-681.87 indy / -746.62 FTMO.
The indicator also releases a .csv file
Attached File(s)
File Type: csv 2100154614_5.csv   14 KB | 209 downloads

I'm going to deepen next week.
Attached Image (click to enlarge)
Click to Enlarge Name: equity.png Size: 29 KB


Quoting moodybot
The number 1 criteria for passing the challenge is to be absolutely aware at all times the potential loss from any current running trades against closed trades for that 24 hr period. Do not rely on the matrix. Forget the matrix. We are not in a matrix... you should not have to look at the matrix...ask Neo! Do not rely on an indicator that tally’s up the days trading results, shows drawdown etc. It may glitch. Absolutely rely on you the trader in calculating any potential loss from any trades that have or may be taken. If you know the potential loss,...
Hi moodybot.
You are absolutely right about everything. I know it.
This talk about the indicator, is only for a check of the Matrix data, on which the judgment of FTMO about us is based.
Having to shoot during the 30-day trial, however, it is true that the daily limit is always very close. With a funded account I see it from afar, in challenge is at hand (unfortunately).
I've seen things you people wouldn't believe
  • #5,124
  • Dec 30, 2020 11:34pm Dec 30, 2020 11:34pm
More than half of the world is now officially on the last day of this year 2020.

To all, my best wishes for a happy New Year 2021.
May it be a year of economic, physical and mental well-being for everyone.

Attached Image
I've seen things you people wouldn't believe
  • #5,125
  • Dec 31, 2020 5:47am Dec 31, 2020 5:47am
Hi all and compliments of the season.Can anyone put me through how to withdraw from my skrill to my local currency bank account. Thanks mates
  • #5,126
  • Dec 31, 2020 7:17am Dec 31, 2020 7:17am
Quoting driven18
FTMO is legit and the do pay to traders who are still funded. But from my experience and perspective, let me tell you exactly what is really going on: Outside of collecting fees, FTMO pushing on traders "bad quotes", as they are definitely re quoting for their monetary gian purposes. They are pushing wider quotes on you as it a part of their business model to get the difference between liquidity provider and quotes to you, the trader. That is a partial reason you are always trading in demo mode. Every time you place a trade, they earn on requote....
I sometimes wonder why people do not take time to think before they make comment in public space.What a mumbo jumbo you just wrote down.How can they get a piece of action when you are trading demo? What a stup**d assertion.
  • #5,127
  • Dec 31, 2020 7:38am Dec 31, 2020 7:38am
Quoting touchstoneR
How can they get a piece of action when you are trading demo?

Exactly as they say, by using trade-copying software, of course.
  • #5,128
  • Edited 11:07am Dec 31, 2020 10:54am | Edited 11:07am
WISH YOU ALL VERY HAPPY NEW YEAR.

Wish everyone success with FTMO and make tons of


Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 33 KB
Intraday only.
  • #5,129
  • Dec 31, 2020 3:18pm Dec 31, 2020 3:18pm
they should provide another brokers to trade. only trading with their server is a bit shady..
  • #5,130
  • Jan 1, 2021 4:34am Jan 1, 2021 4:34am
Strange that FTMO ended the day yesterday normal time whereas other most other brokers closed early. Nice for FTMO traders!
  • #5,131
  • Jan 1, 2021 5:12am Jan 1, 2021 5:12am
Quoting Vivi-l
Hi, Anyone from India as Funded trader. I want to know how we pay tax in India for the profit share that we receive to our Indian account. Is it legal in India to trade forex thru firm like FTMO?. Do we need to inform bank when the profit share is transferred?. If i say I am self-employed, do i need to get a GST? Regards, Vivi-l
pls ans this i am also looking for it
  • #5,132
  • Jan 1, 2021 1:05pm Jan 1, 2021 1:05pm
hi i just got my 1st account and on verification stage for my 2nd acount (day 2 as of now and +1100 on 80k euro account) should i wait to pass the verification to merge them or they can be merged with the first account being in profit?

challenge 1 passed in 10 days
second in 12 days
first verification in 7 days (and just took small trades to make the days count as 10)

for those of you that have a hard time passing them i fules some simple rules (for 100k account)
1. aim for 500 a day on a single trade then take smaller trades for an extra of 100-200
2. never loose more than 2k in a day
3. if you take 2 losses in a row dont trade
4. stay always in profit, even small,a small profit is really easy to make, so you take another challenge free
5. dont stress the trade will come, i ussually trade london session, but if its crap i might have to wait for london close to even take a trade. so, dont rush it


anyway, i hope for a quick responce to my question so i will know wether i will trade on monday with the funded account or not.

happy new year everyone, stay green
offering my system to copy trade. check my link
  • #5,133
  • Jan 1, 2021 9:39pm Jan 1, 2021 9:39pm
Quoting nikosk0
some simple rules (for 100k account) 1. aim for 500 a day on a single trade then take smaller trades for an extra of 100-200 2. never loose more than 2k in a day 3. if you take 2 losses in a row dont trade 4. stay always in profit, even small,a small profit is really easy to make, so you take another challenge free 5. dont stress the trade will come, i ussually trade london session, but if its crap i might have to wait for london close to even take a trade. so, dont rush it anyway
Many thanks for the post. This is what I really need.. a general strategy to pass the challenge.
If you don't mind me asking, what pair do you trade to aim 500 profit in a single trade, and how many lots of position for that particular trade. And also what timeframe are you using.

If in average we profit 500 per day, it will take 20 trading day, but the fact is you finish the challenge within 10 to 12 trading days so I guess you are well profiting also from those much smaller trades.

Sorry for not answering your question.
  • #5,134
  • Jan 1, 2021 10:13pm Jan 1, 2021 10:13pm
Quoting nikosk0
hi i just got my 1st account and on verification stage for my 2nd acount (day 2 as of now and +1100 on 80k euro account) should i wait to pass the verification to merge them or they can be merged with the first account being in profit? challenge 1 passed in 10 days second in 12 days first verification in 7 days (and just took small trades to make the days count as 10) for those of you that have a hard time passing them i fules some simple rules (for 100k account) 1. aim for 500 a day on a single trade then take smaller trades for an extra of 100-200...
very good, congratulations on passing challenge and verification.

Good luck with second one.
Intraday only.
  • #5,135
  • Edited 4:52am Jan 2, 2021 4:36am | Edited 4:52am
Quoting Trader-IT
{quote} Thanks pipmaster77 During the first two hours of the European Market {quote} Thanks profitfarmer I had tested this indicator, but I don't know why, I had discarded it. Re-tested with 8 others. Only one keeps historical data in memory and they are "almost" the same as FTMO (-681.87 indy / -746.62 FTMO. The indicator also releases a .csv file {file} I'm going to deepen next week. {image} {quote} Hi moodybot. You are absolutely right about everything. I know it. This talk about the indicator, is only for a check of the Matrix data, on which...
I hope that all of you have had a good end of the year and started the new one even better.

I want to close my talk on Relative Drawdown.
Incredible, but there are no exclusive indicators, which only offer this information. On the other hand, it is not a given that a normal Trader looks at. I've never done this for 8 years and I think it's the same for 99% of you. BUT now, with some prop companies setting their limits on this level, you need to keep an eye on it. The majority of traders who failed was due to this limitation.

Ok. In a couple of hours of searching, I found ten indicators/scripts, which also have this information. Two didn't work. Of the other eight, 6 were found to be unusable and only two were of interest.

In the first image, you can see on the top left what (kindly) reminded me profitfarmer. I did not find it exact, but above all, not suitable. At the bottom left there is the result of the day in money, while the correct % is calculated on the opening of the account (in practice 2 days). On the top DX is the calculation on the day and below, the only indicator that works really well (of those tested).
In the second image, you see the Matrix data.

Attached Image
Attached Image (click to enlarge)
Click to Enlarge Name: risultato indicatori 2.png Size: 27 KB

The Relative Drawdown calculation is based on the history present in the MT4 and is incorrect if it refers to the Matrix (the first time more, this time less). For the previous day, only those who are familiar with csv files and can use the file I attached earlier for the calculations, can tell if he is right the indicator or Matrix.

An important thing:
I don't think FTMO plays games with us. But experience teaches me that even the largest Brokers/Companies can make involuntary mistakes which, if proven, are immediately corrected.

Hope this indicator with its csv file will help. Prop account or private account. It's not important.
Also, I hope it can help not get over this damn Relative Drawdown, so there are more winners than losers.

PS:
indy v8 is not mine. All internal notes were either in Russian or were a list of ?????????????
From a previous version (v7), I tried to translate and transfer as much as possible, but if used as I do (just info and that's it) there are no problems.
The latest version is a modification for me instead. Just a given and that's it. What it takes.

Attached File(s)
File Type: mq4 Equity_v8.mq4   55 KB | 328 downloads
Attached File(s)
File Type: ex4 Indy EOS Equity_v9.ex4   57 KB | 337 downloads
Attached Image

Attached Image
I've seen things you people wouldn't believe
  • #5,136
  • Jan 2, 2021 8:48am Jan 2, 2021 8:48am
Quoting nikosk0
4. stay always in profit, even small,a small profit is really easy to make, so you take another challenge free
5. dont stress the trade will come

These two are definitely very good advice.

And well done with your own Challenges and verification.

Quoting nikosk0
1. aim for 500 a day on a single trade then take smaller trades for an extra of 100-200

This could work out really badly for you, if the best trades of the day for your method all showed up just after you’d already made 500.

Quoting nikosk0
2. never loose more than 2k in a day

Again, this might be really unfortunate for the outcome, if the best trades, which give your method its very best opportunities, all turn up just after you’d had a few unlucky trades and were 2k down - sometimes it goes like that, in cycles, and a few unlucky entries are followed by a few potentially big winners.

Quoting nikosk0
3. if you take 2 losses in a row dont trade

Here, also: if your very best opportunity with the highest chance of the biggest profits is the third one of the day, you‘d surely be kicking yourself.
A different approach is to start with your proven edge over the market, select position-sizing appropriate to being able to handle any predictable unlucky run (which any method can have, of course), and then apply your proven edge as frequently as possible, to make sure that whatever happens you won’t miss the very best opportunities.

It’s a very different approach from what you suggest, above, but it can certainly be a successful one.
  • #5,137
  • Jan 2, 2021 11:03am Jan 2, 2021 11:03am
Quoting Quickly
{quote} These two are definitely very good advice. And well done with your own Challenges and verification. {quote} This could work out really badly for you, if the best trades of the day for your method all showed up just after you’d already made 500. {quote} Again, this might be really unfortunate for the outcome, if the best trades, which give your method its very best opportunities, all turn up just after you’d had a few unlucky trades and were 2k down - sometimes it goes like that, in cycles, and a few unlucky entries are followed by a few...
i take more than one trade every day (ussually)

about the 2k drawndonw, if you get it you propably are not in the right state of mind, so its better not to trade
same for the 2 losses in a row, not the right state of mind ussualy, nor the strategy nor the market is at fault

so most of the rules are to avoid trading were you are not in good condition and havent realised it
offering my system to copy trade. check my link
  • #5,138
  • Jan 2, 2021 11:08am Jan 2, 2021 11:08am
Quoting Jay3ast
{quote} Many thanks for the post. This is what I really need.. a general strategy to pass the challenge. If you don't mind me asking, what pair do you trade to aim 500 profit in a single trade, and how many lots of position for that particular trade. And also what timeframe are you using. If in average we profit 500 per day, it will take 20 trading day, but the fact is you finish the challenge within 10 to 12 trading days so I guess you are well profiting also from those much smaller trades. Sorry for not answering your question.
i mainly trade eu uchf and gu

gu 1 lot
eu 3-5 lots
uchf 5lots

i have a stop loss just in case at -1500 and if the trade goes at -1100-1300 i add one more posiiton of the same size and exit either for small profit or big profit.
i only scalp against the trend, so this is kind of a risky system witch i do not advise ou to use it. every pair has its own movement and my strategy doesnt work on any pair. for example au and nu doesn work.

for UCAD i use a different system, if i do the previous strategy on uc, i will blow the account.

in all cases i only use reversion to the mean, price action and market structure, nothing else
offering my system to copy trade. check my link
  • #5,139
  • Jan 3, 2021 8:24am Jan 3, 2021 8:24am
Hi folks ! what is the winter gmt and summer gmt for ftmo?
Swimming with sharks!
  • #5,140
  • Jan 3, 2021 1:10pm Jan 3, 2021 1:10pm
I hope you have spend good new year days "at home mostly"! Most asked question and required answer, around 92% of FTMO participants lose their challanges have good luck in 2021 FTMO succes still same as watching Miley on youtube
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