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FTMO - For serious traders

  • #5,561
  • Feb 5, 2021 4:12am Feb 5, 2021 4:12am
Quoting Koop
{quote} I don't know why another person's success rate should matter to you when everything that guarantees either your own success or failure is absolutely dependent on you. I don't know anyone on these forums who's even been trading with them for that long, most seem to have only taken the challenge late last year. But feel free to look on youtube or facebook. I've seen two or 3 traders talk about their 6 months journey and 1 year respectively. Someone else posted a myfxbook link here last year...
.
on a postive roll...
  • #5,562
  • Feb 5, 2021 4:15am Feb 5, 2021 4:15am
Quoting Rmg
{quote} .
That's a nice way of saying STFU
Know what you trade
  • #5,563
  • Feb 5, 2021 4:16am Feb 5, 2021 4:16am
Quoting robots4me
@BWilliam -- I'll add you to the waiting list...
I'm curious why that person click thumbs down?
Know what you trade
  • #5,564
  • Feb 5, 2021 7:12am Feb 5, 2021 7:12am
Quoting BWilliam
{quote} I'm curious why that person click thumbs down?
@BWilliam -- it's @DrDave. But shhhhhh, don't let him know. It has been my secret way of knowing which of my posts he has read. He's actually gone back in time and "disliked" thousands of my posts. It's a back-handed compliment.
  • #5,565
  • Feb 5, 2021 7:34am Feb 5, 2021 7:34am
i wanted to sort and i didnt cause of stupid "no news trading" rule on nfp.
was hoping i might get my entry 2 minutes later since the rules allow it after 2 minutes

i also closed my eu long early cause it didnt hit tp and nfp was aroudn the corner.

charts dont care about news, PA + market structure is king of all

stupid rules, i am pissed off right now. i didnt get the money i wanted, had to exit AND NOT ENTER cause of news......

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offering my system to copy trade. check my link
  • #5,566
  • Feb 5, 2021 7:45am Feb 5, 2021 7:45am
Quoting nikosk0
i wanted to sort and i didnt cause of stupid "no news trading" rule on nfp. was hoping i might get my entry 2 minutes later since the rules allow it after 2 minutes i also closed my eu long early cause it didnt hit tp and nfp was aroudn the corner. charts dont care about news, PA + market structure is king of all stupid rules, i am pissed off right now. i didnt get the money i wanted, had to exit AND NOT ENTER cause of news...... {image} {image}
It's their rules... no different to saying ' I busted the 10% loss but the trade came out into profit....

Quoting nikosk0
{quote} all strategies alowed as long as you follow their rules. no explanation needed
You said this a few posts back? Why you mad bro?

Didn't you make this trade on your personal account?
  • #5,567
  • Feb 5, 2021 7:50am Feb 5, 2021 7:50am
I am still adjusting my risk and testing how my trading behaves on their demo, for now.
A lot must be considered for long-term FTMO.
-
Just by digging a little deeper, I found quickly that the way you should trade their 100k account if you want consistency is like you would trade your own 10k account
Why? Because what they essentially ask of you is to double those 10k in a month without ever going 5k negative in a day.
Now think to yourself can you double your account in 20-25 trading days to pull this off?
Ok now think, can you do this with low risk, low drawdown.

And low drawdown is key... How long does it take to climb out of a 40% DD hole safely... a looong time. Will you make it in time to reach the target. LOL

I have limited my DD to half they allow, use trade sized 300-500$ / per setup and I close early if needed in either loss or profit. Active management.
Managed to pass demos for now, just barely in time, no YOLO trades, and with a max floating daily DD of only 2%
The biggest closed loss for the day was 0.7%
But it took 25 trades a week...
If your system gives you only 2-3 trades a week... your only hope is very good and verified RR, or else you will have to use big $$ per trade and count more on luck than consistency in the short time they allow you to pass
-
I will increase my risk a bit/try to leave trades to play out more/pick better quality setups in the hope I gain more performance so that I can meet the target in time when a bigger drawdown happens
  • #5,568
  • Feb 5, 2021 7:55am Feb 5, 2021 7:55am
Quoting lakhan
{quote} It's their rules... no different to saying ' I busted the 10% loss but the trade came out into profit.... {quote} You said this a few posts back? Why you mad bro? Didn't you make this trade on your personal account?

it is the one rule that makes mad. had i achieved my daily profit i wouldnt mind. but to do that i would have to risk more than i feel comfortable risking.

i am up 19% (had losses yesterday) + 5 more trading days for the split so its fine but... you all know the feeling i suppose
offering my system to copy trade. check my link
  • #5,569
  • Feb 5, 2021 7:57am Feb 5, 2021 7:57am
Quoting nikosk0
i wanted to sort and i didnt cause of stupid "no news trading" rule on nfp. was hoping i might get my entry 2 minutes later since the rules allow it after 2 minutes i also closed my eu long early cause it didnt hit tp and nfp was aroudn the corner. charts dont care about news, PA + market structure is king of all stupid rules, i am pissed off right now. i didnt get the money i wanted, had to exit AND NOT ENTER cause of news...... {image} {image}
No news trading isn't stupid.

Being a broker in the past, I can tell you there is no way FTMO could provide reasonable conditions during news time. Then it would be a nightmare for their customer service because people would say "HEY YOU GAVE ME 1 PIP SLIPPAGE DURING NFP... SCAMMER!" when theres literally no liquidity during NFP..
  • #5,570
  • Feb 5, 2021 8:08am Feb 5, 2021 8:08am
Quoting Takisd
{quote} No news trading isn't stupid. Being a broker in the past, I can tell you there is no way FTMO could provide reasonable conditions during news time. Then it would be a nightmare for their customer service because people would say "HEY YOU GAVE ME 1 PIP SLIPPAGE DURING NFP... SCAMMER!" when theres literally no liquidity during NFP..
i know i can udrestand the reasoning behind the rule.
it is just that news do not affect my trading at all and it just annoyed me

it is also friday so i can trade no more.

anyway see what next week brings us.

have a good weekened everybody
offering my system to copy trade. check my link
  • #5,571
  • Feb 5, 2021 8:08am Feb 5, 2021 8:08am
Quoting nikosk0
{quote} it is the one rule that makes mad. had i achieved my daily profit i wouldnt mind. but to do that i would have to risk more than i feel comfortable risking. i am up 19% (had losses yesterday) + 5 more trading days for the split so its fine but... you all know the feeling i suppose
Yes I understand. My advice would be to take some of that profit split and place it into your personal account. That way you can trade however the f* you want to. Trade news, hold over weekends, use all the leverage you want. No ones stopping you.
  • #5,572
  • Feb 5, 2021 10:44am Feb 5, 2021 10:44am
Quoting kCBHk
{quote} I'm not saying you can't use FTMO, but if you think you're a professional trader because you are on FTMO, then you're deluded. You're a tool to be used by FTMO and you're also using FTMO. Neither sides are professionals. I don't need FTMO, I have sufficient funds to trade on for myself.
Then please what are you doing on this thread? Are you schizophrenic.?
  • #5,573
  • Feb 5, 2021 3:11pm Feb 5, 2021 3:11pm
Quoting pipmaster77
{quote} The forums are toxic. There is nothing to prove. If you have a system with an edge, you practice good risk management, this is simply an opportunity to trade a much larger amount of capital with no risk to yourself.
Mate, you're totally right. Let the naysayers stay on the sideline while those of us who want to fly catch our ride! ... just ignore them, they're all around us those who are succeeding. The happy and sad truth is you can only succeed if you believe you can.
Honestly, I stopped wasting time with useless messages in forums, I quickly scan them only stop on those topics who are uplifting and interesting, that actually help me learn something new. Believe me, my trading has improved ten fold since deciding to use my time wisely particularly to REALLY improving my skills: backtesting, journaling every trade, reviewing it and finding my mistakes, planning for the next day and refining my plan regularly. I've given myself 5 minutes a day to spend on FF everyday as leisure. Other than that its for business usage (news, calendar, etc), helps filter out all the garbage. Try compromising on something similar and let me know!
  • #5,574
  • Edited 9:14pm Feb 5, 2021 6:43pm | Edited 9:14pm
Quoting Koop
If there is even a 0.01% chance that one can earn a good living from trading(definitely better odds judging from payouts and testimonials), then why shouldn't one dream and aspire? No one needs your wisdom and no one needs your superman saviour complex either. Many fail the Bar exams, many fail Medical exams, many fail professional certification exam etc and keep trying regardless, go and save them.
In your own words 0.08% is a dream. Ofc it is.

I don't know the exact success rate for bar exams. But it has to be a lot higher than 0.08%. The exams are properly accredited with no hanky panky. Once the student pass he is not required to resit the exams again. Your comparison of prop trading challenge with bar exam is not compatible.

You are correct to call this prop trading challenge a dream. See, you know it yourself.

Quoting Koop
IMO and based on my experience, Prop trading firms offer the best chance for success in this business.
You have earned zero from trading prop money, how is it possible that you wrote "from my experience" when you have zero experience?

Quoting Koop
Either ways, STFU.
Perhaps it's more useful to explain why you get offended with exploring more views?

Everyone understand your passion, your reasons but perhaps you may want to think deeper the issues brought up in this discussion. Or at least other members who read this thread read the complete picture.

Good luck and best wishes to all those trying this challenge. I'm outta here.
Know what you trade
  • #5,575
  • Feb 5, 2021 7:01pm Feb 5, 2021 7:01pm
Quoting BWilliam
{quote} In your own words 0.08% is a dream. Ofc it is. I don't know the exact success rate for bar exams. But it has to be a lot higher than 0.08%. The exams are properly accredited with no hanky panky. Once the student pass he is not required to resit the exams again. Your comparison of prop trading challenge with bar exam is not compatible. You are correct to call this prop trading challenge a dream. See, you know it yourself. {quote} You have earned zero from trading prop money, how is it possible that you wrote "from my experience" when...
I have experience in futures and FX prop.. You sir are a giant penis... bye
  • #5,576
  • Edited 9:05pm Feb 5, 2021 8:22pm | Edited 9:05pm
Hi guys, I have a quick question about drawdown and max loss.
Say I start a new challenge and place my first trade. It goes up $100 into profit but then it drops to be stopped out at -$100.
Should my metrix show a max loss of -$100 or -$200?
Thanks
  • #5,577
  • Feb 5, 2021 11:14pm Feb 5, 2021 11:14pm
Quoting forecks
Hi guys, I have a quick question about drawdown and max loss. Say I start a new challenge and place my first trade. It goes up $100 into profit but then it drops to be stopped out at -$100. Should my metrix show a max loss of -$100 or -$200? Thanks
Daily max loss = Realized profit - Realized loss or DD.
To answer your question, you did not book profit of 100 $ so the DD is - 100 $
Intraday only.
  • #5,578
  • Feb 6, 2021 2:02am Feb 6, 2021 2:02am
Quoting pipmaster77
{quote} Yes, the challenge is tough, but if you do not hit the target, but you are profitable by even a penny, you go again for free, as many times as you need.

Hi guys,

i know that if you didnt hit the target in the challenge but you are profitable, you can start again, but can it be done multiple times ?
for me it is very importnat
maybe i missed that info, i will look for it again, but any help is much appreciated

thanks in advance
  • #5,579
  • Feb 6, 2021 2:59am Feb 6, 2021 2:59am
Quoting bradu
{quote} Hi guys, i know that if you didnt hit the target in the challenge but you are profitable, you can start again, but can it be done multiple times ? for me it is very importnat maybe i missed that info, i will look for it again, but any help is much appreciated thanks in advance
You can do any number of times, as long as no other objective is violated. Profit evev 0.1 dollar is enough.
Intraday only.
  • #5,580
  • Feb 6, 2021 3:21am Feb 6, 2021 3:21am
Thanks Navk !
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