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$1,000,000.00 and Beyond ft. FTMO 29 replies

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FTMO - For serious traders

  • #5,181
  • Jan 5, 2021 8:16am Jan 5, 2021 8:16am
Quoting delta-vega
{quote} Thanks for showing off your results. I think for mentoring I will wait to hear from someone who has traded real money. .
not looking to mentor anyone, i;ve figured that one's strategy works for him and him alone. the approach both mentally and money wise should be the same

real money is the challenge, we all did pay to get it. when you get funded and get your first withdrawl it aint real no more.

i'd bet that 90% of the people that pass the challenge and the verification loose the funded account within the first 2 months and only 0.5% has an acount eligible for the scaling plan.

below are my last 2 challenges adn vefication charts with some explanations.

slow and steady is the key word. you will see that when i took big risks in unfamiliar pairs cause i liked them i lost huge sums. when trading normal in one case i had 0 p+l for a while and from then on, only profits.

you gotta put that hard in to your head, there is no other way.

and you will never find a profitable trader showing off tips or strategy. i got the same plan, when i get a steady income ( i already have from my personal accoutn but not as much as i would like to) i will retire form any kind of social interactions and look only at my personal life.

maybe once in a while log in and reply if i see something but thats about it. forex factory is the last remaining community i am a part off, i have deleted my acounts from other places, everything becomes just a misdirection and a total mess.

slow and steady, thats the only advice i can and will give. good luck to all
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offering my system to copy trade. check my link
  • #5,182
  • Jan 5, 2021 8:35am Jan 5, 2021 8:35am
If you don't have sense of humor, please skip reading my post.
I also have a fair share of success and failure with FTMO.
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After months and thousand of posts here I can still see the same old requests and it's somehow funny:
1. Fees are too high
- If you cannot afford the Challenge Fee, what makes you think you can handle the rollercoaster ride of trading with a 100k account? Okay, I guess someone out there is a genius in trading and can do it. So you can ignore this but still, if you only have a $500 trading account, there is a high probability that your emotions will run wild during the challenge and verification.
- There are other ways to get into FTMO, people can try to backread here. HINT: If you prove to that guy that you are profitable, you get free FTMO challenge but you split the profit with that guy. Pros: You get free challenge, Cons: You split profit with that guy.
- Not confident in passing? Then don't try. Build your own small account and use the profits to get the challenge and be confident with your strategy.
- Again and again and again and again, the challenge fee is refundable upon your first profitable month... Think about this, it's basically free for most profitable traders.
- Didn't pass the challenge within the trading period? Agaaaaaaaaaain, if you are at least $0.01 in profit and did not violate the Max Daily Drawdown, you get another try FOR FREEEEEEEEEE.
-

2. Max Daily Drawdown/Max Drawdown.
- "Oh sure, here's 100k, I'm okay to lose 10k in 1 day, please earn it all back tomorrow... Oh hello, why is the account only 80k after 2 days? It's fine, earn it all back tomorrow.... OH HELL NO, WHY IS IT 50k NOW?". Does this makes sense to you? I hope not.
- The goal is to not reach the daily max drawdown, max drawdown, and get the profit target within the challenge/verification period. Why am I sensing that people are more interested to EXTEND the max daily drawdown/max drawdown? Are you guys crazy?
- If you already know your max daily drawdown is -5k (for 100k), why push your equity to -5k in a day?
- Oh yes, max daily drawdown should be changed because "MY EA" or "MY TRADING STRATEGY" doesn't fit the criteria. What the heck? Why should the company change their rules for you? Your EA or Trading Strategy is not a fit? Then either 1) Wait for FTMO to update their rules or 2) Find other prop firms. But I doubt they will change the max drawdown rules. Other firms are more strict.

3. Not being able to hold trades over the weekend.
- Almost all of us trade majors and minors, most likely, we are either hedged with one another or overexposing to one currency pair. FTMO has millions if not hundred millions of Funds. Even a 1% change in the currency affects their fund. Just imagine, if you have $100m and because of someone's tweet during the weekend, EURUSD plummeted down by 1%, because of this, in just one weekend, with your traders not in control, your company losses 1% which is $1m.
- But but but but, my EA/strategy requires me to hold over the weekend because it might hit profit by next monday? ...... What if it's a loss? What if instead of a 1% profit, you get -2% loss? Remember, we are trading with Leverage.

4. Website Matrix not updating. This topic... oh my... oh my... the most funny topic.
- I wonder where is your MT4/cTrader Trading History? Ledger?
- Oh, you are now only -1k away from your Daily Max Drawdown? Why not put a -1.1k SL?
- Cannot do math? Don't trade please. Risking 5% per day? Please don't trade other people's money.
- Your EA currently at -4%? Did you really test and adjust the parameters before using it for your FTMO Challenge?
- Already at -3% today? That's fine, I have this one trade with 1:10R with 2% Risk. If I win this, I pass the challenge!! -> Oh boy, if you have this mindset, please stop.
- I wonder how I can calculate my daily total loss. oh yes, I will check my trading journal/mt4 or ctrader ledger and get use calculator to compute and then adjust my risks accordingly or stop trading for the day. But no, I will just blame FTMO for not updating the matrix online, why bother calculating it myself.... and here I am, at FTMO's thread in FF.

Have a nice day! Hope to give you guys a bit of a laugh.
Green pips to everyone!!
adapt or be killed
  • #5,183
  • Jan 5, 2021 8:45am Jan 5, 2021 8:45am
Quoting delta-vega
Glad to see my report getting some validation. Sorry to hear of others having trouble, but hope my report is of some use in turn confirming the things you've been seeing. Apologies for the long post but I wanted to follow up in conversation with several replies as well as provide further evidence to FTMO that we're not actually incompetent and there's a real issue to be addressed. {quote} Shoot. Sounds like exactly the same thing I'm seeing. I had been hoping what I saw was just a glitch caused on the first day of a challenge or something. Do I...

"It does reset on the day but it does not stay there as it should. Whenever the balance reaches a new high of the day, the daily loss is improperly calculated from that new high from then on. Just want to clarify as well that my case did not involve a carry over to the next day. This was all in a single day (first day of challenge) which made it easier to isolate.

Might be advantageous to close all positions at end of day just to keep things simple; only risk would be it bouncing right then plus the spread."

Not on my screen its not. Its literally watermarked from days open and thats how its always been to me.
  • #5,184
  • Jan 5, 2021 4:39pm Jan 5, 2021 4:39pm
Quoting Trader-IT
Unfortunately there are serious problems with the Max loss day. I have been saying this for several days. Today I found myself with an added result. The day before I was at around -2200 and today after the first around -350, I had greatly exceeded -2500. The first loss of the day was added to that of the previous day. Also you have to wait many hours to get an updated Matrix report. In some cases over 10 hours. And then you have to struggle with assistance and hope that everything goes well? These are serious problems, which cause the loss of the...
This will sound tough. Stop the whinging!

If your strategy is to shave the max daily loss then you’re wasting your time.

I can guarantee that all successful FTMO funded traders know their account loss limits along with current, closed and any future trades.
I doubt very much that the matrix is even remotely looked at.
Apart from days traded, ignore everything else on that matrix.
Take responsibility for knowing exactly where you stand in the market at all times.
FTMO do not want you to fail.
Rules are rules, accept them.
Now go trade that challenge.
Good luck.
  • #5,185
  • Jan 5, 2021 4:52pm Jan 5, 2021 4:52pm
It seems one of their posts on their facebook page got invaded by bitcoin spam bots, i hope they act fast because it already looks like someone unleashed the asian power on ftmo

https://www.facebook.com/25660385486...6153/?sfnsn=mo
  • #5,186
  • Jan 5, 2021 5:20pm Jan 5, 2021 5:20pm
Quoting moodybot
{quote} This will sound tough. Stop the whinging! If your strategy is to shave the max daily loss then you’re wasting your time. I can guarantee that all successful FTMO funded traders know their account loss limits along with current, closed and any future trades. I doubt very much that the matrix is even remotely looked at. Apart from days traded, ignore everything else on that matrix. Take responsibility for knowing exactly where you stand in the market at all times. FTMO do not want you to fail. Rules are rules, accept them. Now go trade that...
Yeah it’s not a good strategy to get that deep to the daily loss. Also the matrix is a guide but should really look to your trading platform data. It’s even advised in the client area to do so

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Trade with confidence, trade without fear.
  • #5,187
  • Jan 5, 2021 6:46pm Jan 5, 2021 6:46pm
Hi Guys,
Need some advice.
doing 50k challenge.
just hedged before NAS100 market close.
Finished day in 3k profit (by acc equity) (6.5k by account balance.)
account balance before midnight 54161
account equity 50531
Before midnight my max daily loss was showing as 5.5k allowed as I started the day with account equity @ 47550.
After midnight account metrics says I violated max daily loss -3600.
There has been no change in balance as all open positions were hedged 1 hour before and at end of day was open square +3k in equity.
Open positions were totalling -3600 but due to hedges earlier in the day.
Surely my max daily loss should now be reset from 50531 at changeover as this was the account equity.
I could have easily avoided this by closing open positions instead of hedging them.
  • #5,188
  • Jan 5, 2021 7:22pm Jan 5, 2021 7:22pm
Quoting Tdrjj
Hi Guys, Need some advice. doing 50k challenge. just hedged before NAS100 market close. Finished day in 3k profit (by acc equity) (6.5k by account balance.) account balance before midnight 54161 account equity 50531 Before midnight my max daily loss was showing as 5.5k allowed as I started the day with account equity @ 47550. After midnight account metrics says I violated max daily loss -3600. There has been no change in balance as all open positions were hedged 1 hour before and at end of day was open square +3k in equity. Open positions were totalling...
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  • #5,189
  • Jan 5, 2021 8:17pm Jan 5, 2021 8:17pm
Quoting Tdrjj
Hi Guys, Need some advice. doing 50k challenge. just hedged before NAS100 market close. Finished day in 3k profit (by acc equity) (6.5k by account balance.) account balance before midnight 54161 account equity 50531 Before midnight my max daily loss was showing as 5.5k allowed as I started the day with account equity @ 47550. After midnight account metrics says I violated max daily loss -3600. There has been no change in balance as all open positions were hedged 1 hour before and at end of day was open square +3k in equity. Open positions were totalling...
Lost my first two challenges (simultaneous) this way. Made like 4k on the day, closed 10K in gains, left 6K in losses open. Was on vacation and didn't pay attention to the daily reset. In your case, although hedged, you carried a floating loss to the next day. I don't agree with the rule. I trade with 2 other firms and their is a total loss limit, of course, but no daily. Really don't see the point in the daily, but, it is their rule and you agree to it when signing up.
  • #5,190
  • Jan 5, 2021 8:39pm Jan 5, 2021 8:39pm
Quoting pipmaster77
{quote} Lost my first two challenges (simultaneous) this way. Made like 4k on the day, closed 10K in gains, left 6K in losses open. Was on vacation and didn't pay attention to the daily reset. In your case, although hedged, you carried a floating loss to the next day. I don't agree with the rule. I trade with 2 other firms and their is a total loss limit, of course, but no daily. Really don't see the point in the daily, but, it is their rule and you agree to it when signing up.
Hi Pipmaster,

Thanks for the reply.
Im new here, not sure if there a PMs or not but if there is would you mind PMing the the other 2 prop firms you are working with?
along with personal experience with them (if they payout etc).
Regards
  • #5,191
  • Jan 5, 2021 8:51pm Jan 5, 2021 8:51pm
I've also been kicked over max daily by hedging over rollover...
widening spreads, though usually not nearly as bad as the currencies, in US100 can be easily be triple the normal hours' spread at rollover.
This is okay if your trade size is small enough...
hedging doubles the likelihood of problems, as it doubles your size, obviously...
as you say, better to close and re-open, or leave open, unhedged.
  • #5,192
  • Jan 5, 2021 9:09pm Jan 5, 2021 9:09pm
Quoting doyathink
I've also been kicked over max daily by hedging over rollover... widening spreads, though usually not nearly as bad as the currencies, in US100 can be easily be triple the normal hours' spread at rollover. This is okay if your trade size is small enough... hedging doubles the likelihood of problems, as it doubles your size, obviously... as you say, better to close and re-open, or leave open, unhedged.
I can see this having an effect if you are already close to a violation and the spread pushes you over, yes.
This however wasn’t the case here. This is a case of the account metrics showing a loss that to me was factored in already.
  • #5,193
  • Jan 5, 2021 9:38pm Jan 5, 2021 9:38pm
Also this is a technical flaw in their metrics.
Hedging, which they say is allowed. Is managing risk.
The equity is not affected when you hedge so why should you be penalised where closing is exactly the same outcome to ones account equity?
  • #5,194
  • Jan 5, 2021 10:27pm Jan 5, 2021 10:27pm
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
Hi, im a beginner Forex trader from India, any chance we can connect on Facebook or anywhere?
  • #5,195
  • Jan 6, 2021 6:12am Jan 6, 2021 6:12am
everyone talking about hedging do you know how to even properly hedge? with ftmos bankroll management you have to drop down significantly in size.

if you are still getting hedged you havent become profitable.
once you master hedging you master trading.

youre better off trading with a stop loss and managing loss management until you build up your account and are able to hedge properly on a main account other than ftmo
  • #5,196
  • Jan 6, 2021 6:14am Jan 6, 2021 6:14am
Quoting Tdrjj
Also this is a technical flaw in their metrics. Hedging, which they say is allowed. Is managing risk. The equity is not affected when you hedge so why should you be penalised where closing is exactly the same outcome to ones account equity?
bc to properly hedge you must close out the one IN PROFIT and youre loss outweighs your gain and your loss should be going into profit on that very next trade.
  • #5,197
  • Jan 6, 2021 6:26am Jan 6, 2021 6:26am
Quoting Tdrjj
Hi Guys, Need some advice. doing 50k challenge. just hedged before NAS100 market close. Finished day in 3k profit (by acc equity) (6.5k by account balance.) account balance before midnight 54161 account equity 50531 Before midnight my max daily loss was showing as 5.5k allowed as I started the day with account equity @ 47550. After midnight account metrics says I violated max daily loss -3600. There has been no change in balance as all open positions were hedged 1 hour before and at end of day was open square +3k in equity. Open positions were totalling...
Granted the rules are loose on challenges, however once funded you would have to close out indicies on a daily basis. No carry over, review the FAQ’s.

You also took a big risk doing so on Election Day in GA. Contact support for them to take a look at.
Trade with confidence, trade without fear.
  • #5,198
  • Jan 6, 2021 7:19am Jan 6, 2021 7:19am
I came across FTMO recently and currently i am trying it through free trials.

Here are my results on 50k account -

https://trader.ftmo.com/metrix?share=cdb51b511b6c

The toughest thing to control in FTMO challenge is Daily Loss Limit only which can be triggered easily if you are in mood of revenge trading.
  • #5,199
  • Jan 6, 2021 7:53am Jan 6, 2021 7:53am
Servers are getting super slow the last few days. I am seeing visual slippage of up to 15 points on dow on both sides, positive and negative, due to the lag.

Traders be careful of the delays especially if you are responding to fast markets.
  • #5,200
  • Jan 6, 2021 8:05am Jan 6, 2021 8:05am
Dear fellow Traders,

I am introducing Special Technical Analysis for New Year 2021. Take your risk free and trade all your favorite CFD Instruments: Forex, Stocks, Cryptocurrencies, Commodities and Indices.

Indicators:
8 simple moving average (Blue 8 SMA).
55 simple moving average (Red 55 SMA).
MACD indicator (12,26,9).
RSI indicator (14).

The rules are as follows:

Long Trades:
The price should be above the 2 SMAs.
The Blue (8 SMA) should be above the Red (55 SMA).
The RSI should be crossed up 60 level.
The MACD should be above the 0 line.

Short Trades:
The price should be below the 2 SMAs.
The Blue (8 SMA) should be below the Red (55 SMA).
The RSI should be crossed down 40 level.
The MACD should be below the 0 line.

Please note: I use them flexibly and depending on what I see as the overall context.

............................................................................................

Technical Analysis today: EBAY


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Resistance: 53.50/55.50/57.50…
Support: 51.50/49.50

Trade idea: Go long at the support zones.
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