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FTMO - For serious traders

  • #5,501
  • Feb 3, 2021 5:05pm Feb 3, 2021 5:05pm
hello folks
i had joined the forum 9 years ago, but sadly i lost the login details. so i just discovered this type of business and joined this forum again to have more discussion about the program and share experience.
I still confused. i can't comprehend the Idea behind such programs, as I understood from FTMO objective they risk their money asking you just 1% and 20 profitable trading days.
for $100.000 they ask upfront payment about $1000 and percentage that can be achieved in 20 days.
If i got it right, that would be huge losses if trader passed the challenge and failed on real account .. ! they could loss up to $10.000 and we just pay them $1000.
am i missing something guys ?

I have just registered with them and started 14days free trial.
  • #5,502
  • Feb 3, 2021 5:40pm Feb 3, 2021 5:40pm
Quoting Feelas
hello folks i had joined the forum 9 years ago, but sadly i lost the login details. so i just discovered this type of business and joined this forum again to have more discussion about the program and share experience. I still confused. i can't comprehend the Idea behind such programs, as I understood from FTMO objective they risk their money asking you just 1% and 20 profitable trading days. for $100.000 they ask upfront payment about $1000 and percentage that can be achieved in 20 days. If i got it right, that would be huge losses if trader passed...

They have multiple options. For a 100k account, it costs ~650 USD.

To get t hat 100k account you must do the following:

1) Achieve a profit of 10%
2) Not break the daily drawdown/loss of 5000
3) Not break a total drawdown of 10% of the initial account balance.

Then if you pass that you must repeat but instead of 10% profit its 5%. Same rules.

Then they fund you under the conditions 2 and 3 +some anti news conditions and split the profit 70/30 in your favor at the end of 30 days + refund the initial 650.
  • #5,503
  • Feb 3, 2021 8:12pm Feb 3, 2021 8:12pm
At 1 PM CET, there is restricted event for pound today.
Intraday only.
  • #5,504
  • Feb 3, 2021 8:33pm Feb 3, 2021 8:33pm
Quoting Feelas
hello folks i had joined the forum 9 years ago, but sadly i lost the login details. so i just discovered this type of business and joined this forum again to have more discussion about the program and share experience. I still confused. i can't comprehend the Idea behind such programs, as I understood from FTMO objective they risk their money asking you just 1% and 20 profitable trading days. for $100.000 they ask upfront payment about $1000 and percentage that can be achieved in 20 days. If i got it right, that would be huge losses if trader passed...
spend a little more time reading their presentation...
all the details are there.
if it's too hard to understand, then it may not be for you, realistically.
  • #5,505
  • Feb 4, 2021 12:15am Feb 4, 2021 12:15am
Quoting Takisd
{quote} They have multiple options. For a 100k account, it costs ~650 USD. To get t hat 100k account you must do the following: 1) Achieve a profit of 10% 2) Not break the daily drawdown/loss of 5000 3) Not break a total drawdown of 10% of the initial account balance. Then if you pass that you must repeat but instead of 10% profit its 5%. Same rules. Then they fund you under the conditions 2 and 3 +some anti news conditions and split the profit 70/30 in your favor at the end of 30 days + refund the initial 650.
yes Takisd
I believe their objectives are not complicated to accomplish. I hope a lot of traders here are enjoying the service to share their experience and have discussion on this program.
thanks
  • #5,506
  • Feb 4, 2021 12:18am Feb 4, 2021 12:18am
Quoting doyathink
{quote} spend a little more time reading their presentation... all the details are there. if it's too hard to understand, then it may not be for you, realistically.
ya everything is clear there. i am testing their 14 days trial
thanks
  • #5,507
  • Feb 4, 2021 7:48am Feb 4, 2021 7:48am
I also started FTMO Challange from 1st of Feb, so far not going good account in negative.

I made few mistakes, due to fear and it turns against me. will focus on recovering.

one question, Do I have to trade only one strategy and explain to FTMO to get funded or I only need to complete four criteria no matter how I did it?

Thanks
Nature never rushes, yet everything gets done, so be patience!
deekay4x Return This Month: na
  • #5,508
  • Feb 4, 2021 8:28am Feb 4, 2021 8:28am
Quoting deekay4x
I also started FTMO Challange from 1st of Feb, so far not going good account in negative. I made few mistakes, due to fear and it turns against me. will focus on recovering. one question, Do I have to trade only one strategy and explain to FTMO to get funded or I only need to complete four criteria no matter how I did it? Thanks
all strategies alowed as long as you follow their rules. no explanation needed
offering my system to copy trade. check my link
  • #5,509
  • Feb 4, 2021 4:40pm Feb 4, 2021 4:40pm
Quoting Feelas
{quote} yes Takisd I believe their objectives are not complicated to accomplish.

Interesting perspective, there.

Why do you think only 8% achieve them, then, and 92% fail?
  • #5,510
  • Feb 4, 2021 8:59pm Feb 4, 2021 8:59pm
Quoting Quickly
{quote} Interesting perspective, there. Why do you think only 8% achieve them, then, and 92% fail?
And to add to that, of the 8% that pass, how many are still in the game 6 months later.
Probably less than 10%.
So maybe 1% last long enough to make any decent money in the long run.

I see nothing wrong with what product FTMO is offering here, but we need to be realistic and understand only the best and most experienced traders where ever earn enough to obtain a full time living.

Its a dream, but just maybe it’s worth a shot anyway.
Trading thin liquidity at the boundary of the charts
  • #5,511
  • Feb 4, 2021 9:02pm Feb 4, 2021 9:02pm
Quoting RickM
{quote} And to add to that, of the 8% that pass, how many are still in the game 6 months later. Probably less than 10%. So maybe 1% last long enough to make any decent money in the long run. I see nothing wrong with what FTMO is offering here, but we need to be realistic and understand only the best and most experienced traders where ever earn enough to obtain a full time living. Its a dream, but just maybe it’s worth a shot anyway.
it is possible long term, with 300k account with reduced leverage, may be 1 : 25.
Intraday only.
  • #5,512
  • Feb 4, 2021 9:09pm Feb 4, 2021 9:09pm
Quoting RickM
And to add to that, of the 8% that pass, how many are still in the game 6 months later. Probably less than 10%. So maybe 1% last long enough to make any decent money in the long run. I see nothing wrong with what product FTMO is offering here, but we need to be realistic and understand only the best and most experienced traders where ever earn enough to obtain a full time living. Its a dream, but just maybe it’s worth a shot anyway.
1% of 8% give 0.08% who make decent money.

Is it worth a short as a form of long term income compared to a regular job?

The fantasy with 0.08% success rate to successfully earn a living trading forex instead of a regular job?

Has anybody of that 99.02% group counted the total cost besides the challenge fee?

That's weird.

Ofc everyone here is the super trader that form this 0.08%
Know what you trade
  • #5,513
  • Feb 4, 2021 9:11pm Feb 4, 2021 9:11pm
Quoting RickM
{quote} And to add to that, of the 8% that pass, how many are still in the game 6 months later. Probably less than 10%. So maybe 1% last long enough to make any decent money in the long run. I see nothing wrong with what product FTMO is offering here, but we need to be realistic and understand only the best and most experienced traders where ever earn enough to obtain a full time living. Its a dream, but just maybe it’s worth a shot anyway.
You don't believe with a 300K account, you could reduce leverage to the ridiculous and grind out 3-4% per month. That's 75K per year for your split. Now duplicate it at 4 firms.
  • #5,514
  • Feb 4, 2021 9:15pm Feb 4, 2021 9:15pm
Quoting pipmaster77
{quote} You don't believe with a 300K account, you could reduce leverage to the ridiculous and grind out 3-4% per month. That's 75K per year for your split. Now duplicate it at 4 firms.
yes, FTMO 300K account + xxxx 300k account ( The provider similar to FTMO but profit share 50/50 )

Leverage 1 : 33
Intraday only.
  • #5,515
  • Feb 4, 2021 9:19pm Feb 4, 2021 9:19pm
Quoting BWilliam
{quote} 1% of 8% give 0.08% who make decent money. Is it worth a short as a form of long term income compared to a regular job? The fantasy with 0.08% success rate to successfully earn a living trading forex instead of a regular job? Has anybody of that 99.02% group counted the total cost besides the challenge fee? That's weird.
Well that stat will be any prop firm, any personal account. To answer your question, if your in the 99.02% group you don't even have the cost of the challenge fee as it was refunded with your first split. So let me see, do a little math, carry the one, move the decimal, looks like total cost would be 0. Unless, of course, you're talking about time. Entirely different subject, take the 45-50 hours per week you put in working for someone else, multiply times 50 (assuming you're lucky enough to have 2 weeks vacation) and then multiply times the 40 years of misery doing that job. So with all the doom and gloom, why are we even trading? Guess I'll just stick with my 100K corporate job with my 6 weeks vacation and be miserable like everyone else.
  • #5,516
  • Feb 4, 2021 9:21pm Feb 4, 2021 9:21pm
The clowns and naysayers are early this week. This usually doesn't occur until the weekend. Must be a boring Thursday evening.
  • #5,517
  • Feb 4, 2021 9:21pm Feb 4, 2021 9:21pm
for me 2 more days to go.

Planning to trade BTCUSD micro lots on saturday and sunday and all finished first 100 k account evaluation.
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Intraday only.
  • #5,518
  • Feb 4, 2021 9:30pm Feb 4, 2021 9:30pm
Quoting pipmaster77
So with all the doom and gloom, why are we even trading? Guess I'll just stick with my 100K corporate job with my 6 weeks vacation and be miserable like everyone else.
Good question. Definitely not to qualify for a forex trading job with a 0.08% success rate. You have to figure out the answer to your question yourself. Meanwhile don't assume you are superman while you figure it out, that's living in fantasy. The fantasy part.
Know what you trade
  • #5,519
  • Feb 4, 2021 9:33pm Feb 4, 2021 9:33pm
Quoting navk
{quote} yes, FTMO 300K account + xxxx 300k account ( The provider similar to FTMO but profit share 50/50 ) Leverage 1 : 33
And another excellent one that scales you to 1.28 million with a 50/50 split. Real strict drawdown and loss limits, though. But once again, can you risk .25% per trade and grind out 2-3%. The big misconception in trading is you do not need to be a super trader. It's all about risk management. If you have the slightest edge in your system and good math skills, you can be successful. Hell, ctrader even calculates your risk % loss and gain for you before you enter the trade.
  • #5,520
  • Feb 4, 2021 9:40pm Feb 4, 2021 9:40pm
Quoting BWilliam
{quote} Good question. Definitely not to qualify for a forex trading job with a 0.08% success rate. You have to figure out the answer to your question yourself. Meanwhile don't assume you are superman while you figure it out, that's living in fantasy. The fantasy part.
Man, I promised myself I wouldn't interact with folks who just come here to spread the doom and gloom. I just can't help myself sometimes.

So are you either,

A. A super trader yourself earning a living from forex and you don't believe in prop firms or

B. Another clown going to save us all from ourselves and make sure we don't waste our resources trading forex and you are so concerned about the human race you feel the need to post this opinion or

C You simply have nothing better to do

If none of the above is the answer, what exactly is your purpose posting here?
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