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FTMO - For serious traders

  • #5,741
  • Feb 13, 2021 7:10pm Feb 13, 2021 7:10pm
Quoting robots4me
Considering there's a pandemic and millions of people's lives have been devasted, I just would have expected the level of discussion to be a few notches higher.
If you're looking for discussion a few notches higher, RickM's posts on here is a good place to start with imv.
Know what you trade
  • #5,742
  • Feb 13, 2021 7:20pm Feb 13, 2021 7:20pm
Quoting dr_who
Having been around fx and trading in general for over 20 years has taught me one thing at least (and probably a few other things too). That a prop company that asks anyone for money up front just to prove your credentials is 99% certain to be a scam. There is absolutely no other reason for them to ask for money other than to provide them with an income.... My advice is to keep well away from FTMO and any company like them...
ok bye
  • #5,743
  • Feb 13, 2021 7:26pm Feb 13, 2021 7:26pm
Guys in my 20 years of experience as a trader and my owning the national bank of ghana I can tell you that only people who can't trade or are a poor trader complain about something that never affects them ever. People who have so much spare time that they go to a thread that doesn't apply to them and say something negative about the topic of that thread and start with the whole "im so experienced look at me" crap.

Prop desks have been charging fees since the 80's. Some internet wizard comes in and starts say "nah bro, it has to be free or its a scam" clearly has no capital and no skill, thats his gripe, not whether the company is good or not.
Hell, even if the challenge was free he would be saying "this is a scam, no one would do this without charging, whats the catch?".

Funnily enough, true story. As a broker I used to get emails pretty much once a week of some guys like this douchebag who would say things like "if you give me 0 spread and a 300% deposit bonus, I promise you I can do huge volume on your brokerage". Obviously, the only time they can make money is when things aren't real. But then when you say no "thats impossible" they say "oh OTHER BROKERS GIVE ME THAT AND IM A BILLIONAIRE FROM IT YOU MISS OUT".. you ignore them, then they come back a month later asking if you changed their mind.

Pro tip, nothing in life is free. Not in forex, not in life. We always pay one way or another.
  • #5,744
  • Feb 13, 2021 7:38pm Feb 13, 2021 7:38pm
Quoting FXsniper111
{quote} I am not sure,but i think they are baced in Canada (Correct me if i am wrong),but if so Canada is bye the most regulated countries and everyting has to be transparent they cant say you are trading the market if you dont that is fraud,but even they are not baced in canada they are regulated that is why they had to fire all the brokers they used to act like a broker them self and in addition they get payed the commision and spread that for me as a scalper is over half my profit...I am in verification stage half way to target and platform and...
Based in and operating from Czech republic i believe. I believe they are also as transparent as necessary, can't think of anything they are hiding EXCEPT for maybe the source of funding, which i don't really care about so long as they meet their obligations

Quoting dr_who
Having been around fx and trading in general for over 20 years has taught me one thing at least (and probably a few other things too). That a prop company that asks anyone for money up front just to prove your credentials is 99% certain to be a scam. There is absolutely no other reason for them to ask for money other than to provide them with an income.... My advice is to keep well away from FTMO and any company like them...
I don't think you understand what a scam means.

Quoting RickM
Here is another take on FTMO For a fee, you will learn to become a better trader because of their tough trading rules. You will develop a far more responsible attitude in balancing the relationship between trade size and draw down levels and better understand your own emotions when attempting to trade for a living. Then they refund your learning fee once you achieve trading consistency. Surely you are now a better trader. The big question will then be if I can’t survive as a trader following their rules in the Forex market, perhaps the Forex market...
Bitter truths.

Quoting robots4me
{quote} "How much more work for human resource employees to vet through each application to determine whether job requirements are met?" Is this a rhetorical question? Are you suggesting that it costs Goldman Sach's human resource department next to nothing to process 1000's of job applications? @BWilliam -- I used to take you seriously. This has now become a joke.
Don't waste your time. He makes the dumbest comparisons and then tries to play victim when countered with logic.

Quoting BWilliam
{quote} If you read this thread you find there's this group of members who get offended by other members who post different views. Read their response and the likes that follow. If this is the case, which is true for all threads, might as well don't have discussion. Discussion means grown men quarrel and fight on FF. Remember George drama. Edit - there's more credibility if those offended members post on here how much payout they receive over a course of say 1year. 3 years will be better. Until then.

Lmao It seems you're the only one that gets offended when the discussions start as you immediately resort to tasteless sarcasm and ridicule. I personally am usually more baffled at the way most of you guys think. Rick M for example is open minded and fair as he actually considers the positives and genuinely means to understand things, on the other hand, all you're here for is to insistently make shocking unreasonable negatively skewed remarks only to blow your victim whistle when your views are challenged.

Grow a pair Will.
  • #5,745
  • Feb 13, 2021 10:30pm Feb 13, 2021 10:30pm
Quoting RickM
{quote} I would say most traders that paid for a challenge would come out the other end a better trader. Suddenly they would start focus on their trading results correctly. This would be a more interesting question - "Is there a trader who has failed a challenge once or twice before obtaining a funded account who has improved their Money Management skills? My guess is every single bloody trader - What training course can offer those stats - Personally I see only value in this point, whether you see a second cheque for me is invalid

My trading improved dramatically after undertaking FTMO challenge, verification and finally funded.
It took me a year to adjust, and by that I mean closing at weekends, planning trades around news etc.
Stepping away from fully auto EA to manual entry auto money management also improved my results.
I have only had a positive experience with FTMO, whether payout comes from subscriptions or genuine copy trades I'll take the profit.
The day I don't get paid, well then it's all over, but until then, keep calm and carry on.
  • #5,746
  • Edited 2:12am Feb 14, 2021 1:58am | Edited 2:12am
Guys, I have a question. I have all my stuff with mt5, but ftmo allows only mt4 for free challenge. How you think is it will be ok if I'll run simple copier from my mt5 to their mt4 account?

P.S. Still thinking about one logic problem... If someone can constantly earn 10% per month why the world there is a need of ftmo or other prop firm? It is extremely easy to get an investor who will be happy with 1% especially in Europe where the bank rates can be even negative... May be the purpose is only use it as a good way to improve trading skills because of their hardcoded rules...
Observer effect
  • #5,747
  • Feb 14, 2021 2:38am Feb 14, 2021 2:38am
Quoting dr_who
Having been around fx and trading in general for over 20 years has taught me one thing at least (and probably a few other things too). That a prop company that asks anyone for money up front just to prove your credentials is 99% certain to be a scam. There is absolutely no other reason for them to ask for money other than to provide them with an income.... My advice is to keep well away from FTMO and any company like them...

ofc they wanna make money. might as wellbe their main source of income.

as long as they pay the funded traders who cares?
offering my system to copy trade. check my link
  • #5,748
  • Feb 14, 2021 2:44am Feb 14, 2021 2:44am
Quoting RickM
Here is another take on FTMO For a fee, you will learn to become a better trader because of their tough trading rules. You will develop a far more responsible attitude in balancing the relationship between trade size and draw down levels and better understand your own emotions when attempting to trade for a living. Then they refund your learning fee once you achieve trading consistency. Surely you are now a better trader. The big question will then be if I can’t survive as a trader following their rules in the Forex market, perhaps the Forex market...

i want to say, i am like your friends.

i did drew a line, my profits were not enough on my live acc and iwas loosing patience since i thought i wasted a year of my work (yes i only trade for a year, nothing before that)

hte line in the sand was ftmo as well for me. when i did that i changed my trading style i stoped gambling completly

results? just awesome
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.jpg Size: 43 KB
offering my system to copy trade. check my link
  • #5,749
  • Feb 14, 2021 3:24am Feb 14, 2021 3:24am
Quoting nikosk0
{quote} ofc they wanna make money. might as wellbe their main source of income. as long as they pay the funded traders who cares?
Exactly. But this is not test of profitability, you basically pay to test your ability to follow simple set of rules. If you are successful you will get quite nice funds to trade with, even if you are not profitable enough they are going to give you second chance as long as you do not brake any rules.
  • #5,750
  • Feb 14, 2021 3:56am Feb 14, 2021 3:56am
Quoting ryuryu
Guys, I have a question. I have all my stuff with mt5, but ftmo allows only mt4 for free challenge. How you think is it will be ok if I'll run simple copier from my mt5 to their mt4 account? P.S. Still thinking about one logic problem... If someone can constantly earn 10% per month why the world there is a need of ftmo or other prop firm? It is extremely easy to get an investor who will be happy with 1% especially in Europe where the bank rates can be even negative... May be the purpose is only use it as a good way to improve trading skills because...

Read the rules properly so you have a good idea of what you are getting into. You are not expected or required to make 10% "constantly", only ONCE!!!! JUST ONCE!!!!!
  • #5,751
  • Feb 14, 2021 5:04am Feb 14, 2021 5:04am
ok so i will be the devils advocate here for these people who doubt ftmo, as without enough info you can speculate all kinds of things, and im going to go for the acusation that ftmo is a pyramid scheme, and hear me out, since they charge fees right, and over 95% of challenges fail, lets say they have 95x540eur challenges paid, thats 51,300eur, now they have to pay 5 people who passed on split day around 25k, because not all of them will make it to split day, most will fail the first month of funded, from 5 maybe 2 will make it. so ftmo is left with 25k in profits, now this can go on as long as people keep coming, and ftmo has to make agressive commercials to bring those people, if people stop coming in the required ammounts to take new challenges, and theres a stable list of funded traders that need to be paid, the whole pyramid collapses and the bussiness model goes bankrupt.

anyway thats just conspiracy theory for people who think ftmo is a scam, im trying to make the conspiracy sound logical
  • #5,752
  • Feb 14, 2021 5:11am Feb 14, 2021 5:11am
Quoting Rayder4Life
ok so i will be the devils advocate here for these people who doubt ftmo, as without enough info you can speculate all kinds of things, and im going to go for the acusation that ftmo is a pyramid scheme, and hear me out, since they charge fees right, and over 95% of challenges fail, lets say they have 95x540eur challenges paid, thats 51,300eur, now they have to pay 5 people who passed on split day around 25k, because not all of them will make it to split day, most will fail the first month of funded, from 5 maybe 2 will make it. so ftmo is left...

even if it is. as long as funded traders get paid all is good.

when and if it collapses the only funded traders that are going to whiny about it are the new ones, the ones that did not get paid.

untill then, we shall enjoy are profits.

as i have said before, as long as it lasts.

when and if that time comes, there are other companies and even if not, mosty of the funded ones, should have put money aside to trade on their own, and with the skill and discipline they have attained, they could surelly make it on their own.

no-one has anything to loose other than the fee for the challenge.

its a win-win situation for everyone.

personally i could not care less if its a pramid sceme or not as long as i get paid.

good day to all
offering my system to copy trade. check my link
  • #5,753
  • Feb 14, 2021 6:00am Feb 14, 2021 6:00am
Quoting Rayder4Life
ok so i will be the devils advocate here for these people who doubt ftmo, as without enough info you can speculate all kinds of things, and im going to go for the acusation that ftmo is a pyramid scheme, and hear me out, since they charge fees right, and over 95% of challenges fail, lets say they have 95x540eur challenges paid, thats 51,300eur, now they have to pay 5 people who passed on split day around 25k, because not all of them will make it to split day, most will fail the first month of funded, from 5 maybe 2 will make it. so ftmo is left...
That is actually quite logical. But the problem is not fees, problem is low success rate. And to be honest rules are not impossible. 10% for 30 days is not big deal. It is hard but is doable. 5% daily and 10% max drawback is pretty much what any money management book is recommending. That I think is the hardest thing here because those rules are most commonly broken. What they did that i do not like much is making floating loss. Even if your position goes into profit after going down 5% you are already gone. But on the other hand that is max exposure that they feel comfortable with and that is ok. FTMO on paper looks nice. I will see how will be in practice.
  • #5,754
  • Feb 14, 2021 6:58am Feb 14, 2021 6:58am
Quoting nikosk0
{quote} i want to say, i am like your friends. i did drew a line, my profits were not enough on my live acc and iwas loosing patience since i thought i wasted a year of my work (yes i only trade for a year, nothing before that) hte line in the sand was ftmo as well for me. when i did that i changed my trading style i stoped gambling completly results? just awesome {image}
Good to know that you did very well,

And also good share for funded traders that at the last day, all open positions to be closed.
Intraday only.
  • #5,755
  • Feb 14, 2021 7:17am Feb 14, 2021 7:17am
Quoting nikosk0
{quote} i want to say, i am like your friends. i did drew a line, my profits were not enough on my live acc and iwas loosing patience since i thought i wasted a year of my work (yes i only trade for a year, nothing before that) hte line in the sand was ftmo as well for me. when i did that i changed my trading style i stoped gambling completly results? just awesome {image}
i have a question, why do they say "after a thorough analisys of your trading" , does this mean that if they analyse you trades and think they arent fit for their type of trading they wont pay you your profit split even tough you made a profit without breakin any rules? whats with that statement ?
  • #5,756
  • Feb 14, 2021 7:59am Feb 14, 2021 7:59am
Quoting Rayder4Life
{quote} i have a question, why do they say "after a thorough analisys of your trading" , does this mean that if they analyse you trades and think they arent fit for their type of trading they wont pay you your profit split even tough you made a profit without breakin any rules? whats with that statement ?
propably no news trading and no open trades during weekends without permition
offering my system to copy trade. check my link
  • #5,757
  • Feb 14, 2021 8:04am Feb 14, 2021 8:04am
Quoting Rayder4Life
{quote} i have a question, why do they say "after a thorough analisys of your trading" , does this mean that if they analyse you trades and think they arent fit for their type of trading they wont pay you your profit split even tough you made a profit without breakin any rules? whats with that statement ?
Yep. This is a solid question. Sounds like that.
  • #5,758
  • Feb 14, 2021 8:10am Feb 14, 2021 8:10am
Quoting nikosk0
{quote} propably no news trading and no open trades during weekends without permition
i thought they monitor that real time and can detect if you opened or closed a position 2 min before and after restricted news event, and also when you didnt close position before weekend, if they only check those things at the end of the month, then those rules have no effect to lower their risk, because before that month ends you could hold a position over weekend of 100 lots and on monday a gap of 500 pips could happen because a central bank decided to devalue their currency like it happened with switzerland, i dont think that is it.
  • #5,759
  • Feb 14, 2021 8:11am Feb 14, 2021 8:11am
Quoting Rayder4Life
ok so i will be the devils advocate here for these people who doubt ftmo, as without enough info you can speculate all kinds of things, and im going to go for the acusation that ftmo is a pyramid scheme, and hear me out, since they charge fees right, and over 95% of challenges fail, lets say they have 95x540eur challenges paid, thats 51,300eur, now they have to pay 5 people who passed on split day around 25k, because not all of them will make it to split day, most will fail the first month of funded, from 5 maybe 2 will make it. so ftmo is left...

Bro your figures are wrong. Multiply that 95 by 10 (at least) to get to the real figure. 950 x 540 = 513000 and you'll be around the correct amount. Taking 500k less 25k = 475k profit
Now you can appreciate the business model in all it's glory - a damn good one
  • #5,760
  • Feb 14, 2021 8:23am Feb 14, 2021 8:23am
Quoting Mtinifx
{quote} Bro your figures are wrong. Multiply that 95 by 10 (at least) to get to the real figure. 950 x 540 = 513000 and you'll be around the correct amount. Taking 500k less 25k = 475k profit Now you can appreciate the business model in all it's glory - a damn good one
haha C'mon Mtini, you're going to adjust/correct only one part in the equation?
lets not forget that Karmostaji alone got a pay out of 26k last month LOL just one person. Nikosko is about to receive over 30k+ this month (just one person). Imagine how many other more traders they have to pay plus refunds.

Therefore "500k - 25k" is very far fetched and unrealistic even though i do believe they actually do make good money from challenges, AS THEY SHOULD.
lets not also forget that not everyone goes for the 100k package at 540eur, some go for 10, 25 or 50k.
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