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FTMO - For serious traders

  • #5,961
  • Mar 9, 2021 7:02am Mar 9, 2021 7:02am
i traded 50k trial like 100k.

Still need to reduce the lot size by 50 % with the strategy i trade.
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Intraday only.
  • #5,962
  • Mar 9, 2021 7:18am Mar 9, 2021 7:18am
Quoting navk
i traded 50k trial like 100k. Still need to reduce the lot size by 50 % with the strategy i trade. {image}
Careful, look like aggressive revenge trade. In a real challenge you might not survive. Profit target is the least to worry about. Focus on daily and max loss.
  • #5,963
  • Mar 9, 2021 7:25am Mar 9, 2021 7:25am
Quoting mixedbags
{quote} Careful, look like aggressive revenge trade. In a real challenge you might not survive. Profit target is the least to worry about. Focus on daily and max loss.
it is aggressive.....i need to reduce the lot size by 50 %.

But not a revenge trading.
Intraday only.
  • #5,964
  • Mar 9, 2021 7:45am Mar 9, 2021 7:45am
Quoting navk
{quote} if you can capture 30 clean pips with 3 lots, that is enough.
Yep agree with you totally My average is 3 lots. No good trading with less - never going to get there!
  • #5,965
  • Mar 9, 2021 7:54am Mar 9, 2021 7:54am
Quoting Mtinifx
No good trading with less - never going to get there!

I agree.

The requirement to make 10% in about 20 days obviously encourages very big position sizes in proportion to the loss limits.

This selects worse traders than would get through a "10% in 2 months" requirement.

But it also keeps the trail fee income rolling in, for FTMO, because so few pass anyway. So it works well for FTMO, not so well for their customers.
  • #5,966
  • Edited 11:26am Mar 9, 2021 9:53am | Edited 11:26am
Quoting navk
i traded 50k trial like 100k. Still need to reduce the lot size by 50 % with the strategy i trade. {image}
As I said, I traded like 100k challenge.

This is second trial and Done in 2 days.

The first trial i did in 1 day.

The system i test seem to work well,

Now What I need to do is reduce the lot size by 50 %.
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Intraday only.
  • #5,967
  • Mar 9, 2021 10:38am Mar 9, 2021 10:38am
Yes the temptation is always there and unfortunately it's all too easy to hit the limits if one is playing with big position sizes.

In my opinion 2 - 3 lots per position is not so big on a 100k account. But I really think that any daily loss limit under 5k (like the $2500 loss limit on the 50k account) is for sure going to get violated sooner or later unless one is incredibly disciplined

Anyway I reached my 2% target - 1% ($1000) per day is a lot easier and less stressful then attempting the full target in one or two days

I would agree with Navk that it's easier to trade Gold or Indices. Gold can be difficult but I prefer fast moving pairs
  • #5,968
  • Mar 9, 2021 10:45am Mar 9, 2021 10:45am
Quoting Mtinifx
Yes the temptation is always there and unfortunately it's all too easy to hit the limits if one is playing with big position sizes. In my opinion 2 - 3 lots per position is not so big on a 100k account. But I really think that any daily loss limit under 5k (like the $2500 loss limit on the 50k account) is for sure going to get violated sooner or later unless one is incredibly disciplined Anyway I reached my 2% target - 1% ($1000) per day is a lot easier and less stressful then attempting the full target in one or two days I would agree with Navk...
In general, 3 lots must be traded.

At times, when there is opportunity, fast 10 pips with additional 2 lots is not wrong.

Overall, 100k account, 6 lots maximum at any point.

If you have accurate system, for fast 20 pips, one can trade 6 lots together.
Intraday only.
  • #5,969
  • Mar 9, 2021 11:17am Mar 9, 2021 11:17am
Quoting Mtinifx
Yes the temptation is always there and unfortunately it's all too easy to hit the limits if one is playing with big position sizes. In my opinion 2 - 3 lots per position is not so big on a 100k account. But I really think that any daily loss limit under 5k (like the $2500 loss limit on the 50k account) is for sure going to get violated sooner or later unless one is incredibly disciplined Anyway I reached my 2% target - 1% ($1000) per day is a lot easier and less stressful then attempting the full target in one or two days I would agree with Navk...
The Fear of loosing challenge account must go.

The fear naturally comes once if you have lost 2 or more challenges.

It is better to trade trial for sometime for the fear to go.
Intraday only.
  • #5,970
  • Mar 9, 2021 11:34am Mar 9, 2021 11:34am
Quoting navk
{quote} As I said, I traded like 100k challenge. This is second trial and Done in 2 days. The first trial i did in 1 day. The system i test seem to work well, Now What I need to do is reduce the lot size by 50 %. {image}
Hi navk how your founded account is doing can you for us some results bst regards mizi
  • #5,971
  • Mar 9, 2021 11:41am Mar 9, 2021 11:41am
Quoting mizi123
{quote} Hi navk how your founded account is doing can you for us some results bst regards mizi
I am aiming for 4 x 100k.

The one funded account, is not so great.

Will finish first all challenges first.

Then will start with funded ones.
Intraday only.
  • #5,972
  • Mar 9, 2021 11:42am Mar 9, 2021 11:42am
I have now opened new trial account today.

Will start trading from tomorrow.

bye guys. sleeping time.
Intraday only.
  • #5,973
  • Mar 9, 2021 12:00pm Mar 9, 2021 12:00pm
Quoting navk
{quote} I am aiming for 4 x 100k. The one funded account, is not so great. Will finish first all challenges first. Then will start with funded ones.
Is not shame to accept lose is part of the game anyway how you think that will deal better with 400 k when you can't with 1oo k
  • #5,974
  • Mar 9, 2021 12:26pm Mar 9, 2021 12:26pm
Quoting mizi123
{quote} Is not shame to accept lose is part of the game anyway how you think that will deal better with 400 k when you can't with 1oo k
Not a good question. With this mentality, one can not win challenge.

Mental strength is what is needed.

I knew you lost your funded account.

Since then you are not appearing in this thread.

Did you accept that you can not trade any more challenge?

Without mental strength it is not possible yes.
Intraday only.
  • #5,975
  • Mar 9, 2021 12:30pm Mar 9, 2021 12:30pm
Quoting mizi123
{quote} Is not shame to accept lose is part of the game anyway how you think that will deal better with 400 k when you can't with 1oo k
Intraday only.
  • #5,976
  • Mar 9, 2021 12:48pm Mar 9, 2021 12:48pm
I suspect with the challenge the "need to be in the market" psychology is there due to the time constraint. IMO that is a recipe for potential traders to lose out and do it quick. Thus fee income for FTMO.

The 200k account thing makes me question a bunch of things, as i mentioned before. There was no reason for it, its gimmicky, its no different to someone doing 2 100k trials only that they have 1 chance to do it and 1 loss wipes the full 200k opportunity out. The 400k increase was all that was needed 4x100k accounts. I might be wrong but it suggests to me that the incoming number of challenges is dropping. If we see a discounted rate anytime soon that would be the real indication of this happening.

Edit: I am toying with the idea of starting my own prop set up, i guess similar to FTMO but with the traders profitability in mind. Obviously I would exclude the idiots on youtube who think that having 30% DD on their EA to get a 2% monthly return is ok. Actually knowing what I know about liquidity and brokers I probably would aim to exclude automated trading all together. Some ideas i have on how to improve the current prop environment would likely be better done myself rather than giving the ideas to others. No one is actually doing most of the things i have in mind that help traders be long term profitable and get their psych in check.

Just gotta figure out the coding for a back office and web development, already have a rolling LOC for execution. Very tempting.
  • #5,977
  • Mar 9, 2021 12:52pm Mar 9, 2021 12:52pm
Quoting Takisd
I suspect with the challenge the "need to be in the market" psychology is there due to the time constraint. IMO that is a recipe for potential traders to lose out and do it quick. Thus fee income for FTMO. The 200k account thing makes me question a bunch of things, as i mentioned before. There was no reason for it, its gimmicky, its no different to someone doing 2 100k trials only that they have 1 chance to do it and 1 loss wipes the full 200k opportunity out. The 400k increase was all that was needed 4x100k accounts. I might be wrong but it suggests...
yes, agree. 200k challenge is for fee income.

One can do 4 x 100.
Intraday only.
  • #5,978
  • Mar 9, 2021 1:58pm Mar 9, 2021 1:58pm
Quoting Takisd
I suspect with the challenge the "need to be in the market" psychology is there due to the time constraint. IMO that is a recipe for potential traders to lose out and do it quick. Thus fee income for FTMO. The 200k account thing makes me question a bunch of things, as i mentioned before. There was no reason for it, its gimmicky, its no different to someone doing 2 100k trials only that they have 1 chance to do it and 1 loss wipes the full 200k opportunity out. The 400k increase was all that was needed 4x100k accounts. I might be wrong but it suggests...
I wouldn't ban EA's on your place as they are free money you would get. I don't think there is someone trading consistently with a EA on any of the Prop firms. Maybe few get lucky during the initial stage.
Your salary is the bribe they give you to forget your dreams
  • #5,979
  • Mar 9, 2021 2:27pm Mar 9, 2021 2:27pm
Quoting horvat
{quote} I wouldn't ban EA's on your place as they are free money you would get. I don't think there is someone trading consistently with a EA on any of the Prop firms. Maybe few get lucky during the initial stage.
the majority of LP's HATE EA flow and will requote/feed drop/ reject if they detect it. Its just an idea but I dont want to be dealing with "waaa i got slippage all the time" complaints and I dont want to fork out millions for prime toxic feeds for the flow. But I have to dig deeper with my relationships to see whats on offer right now.
  • #5,980
  • Mar 9, 2021 5:53pm Mar 9, 2021 5:53pm
Quoting Takisd
{quote} the majority of LP's HATE EA flow and will requote/feed drop/ reject if they detect it. Its just an idea but I dont want to be dealing with "waaa i got slippage all the time" complaints and I dont want to fork out millions for prime toxic feeds for the flow. But I have to dig deeper with my relationships to see whats on offer right now.

Why do they hate EA flow?
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