FTMO - For serious traders

Well done

outstanding job! congrats!

Congrats. How much funding you have?

It seems like you don't understand how it works.

There is only one position in markets. Whether long or short. It can increase in volume or it can decrease. Only one. You basically add volume or reduce volume. There is no such a thing of multiple positions with multiple mini lots.

You should learn some basic trading concepts prior to trade. I encourage you to do that. That way you will understand that the so called FIFO rule is not bad for traders.

Wow, you are kidding me right? You must just be trolling us. So if I open a "trade" of 0 .2 lots and then another "trade" of 0.2 lots, I now have a "position" of 0.4 lots. In the US, I must close my first "trade" of.2 lots first, hence the meaning of FIFO (First In First Out). You can call it increase/decrease volume, whatever you'd like, the fact still remains I must close my initial "volume" first.

I feel like I'm in the Twilight Zone trying to hold a conversation with this guy. Holy sh***. The funny thing is he is making it 100% clear he has never placed a trade in his life, yet he is here "saving" us from ourselves.

enough to live comfortable

Indeed

why does everyone spam this thread with everything but FTMO related things ?

Great question. For some reason, this guy has gone through my posts from like 3-4 years ago and asked what I don't like about FIFO. Now he wants to debate what it actually is. To a US based trader, I guess it's relevant to FTMO, to anyone not in the US, not at all relevant. He brought me down the rabbit hole and I followed him. My apologies.

Hello Traders,
I hope everyone here had a great week and everything goes according to your trading strategies, I’m here to share another update we’ve got on our hands.
Most of the team is sadly still required to stay at home as the pandemic situation does not seem to be getting much better, however, we’ve all adapted pretty well already. With the introduction of our second server and improvement of the server infrastructure, we’re able to put our focus into the development of new projects and improvements. If you’re following our social media, I’m sure you already know which new feature can be expected in the near future.

To platform updates: there has been a major change that everyone should be aware of, and that is the change of the server time due to the US Daylight change. On the 14th of March, the timezone on our servers has been adjusted from GMT+1 to GMT+2, hence shifted by one hour. Along with that, the trading hours of most of the instruments were adjusted accordingly to the new timezone, so please visit https://ftmo.com/en/symbols/ or check the symbol specifications in the trading platform to see the new opening and closing times.
In most European countries (including the Czech Republic where we’re headquartered), the Daylight change will be applied on the 28th of March, which means our local time will move from CET (GMT+1) to CEST (GMT+2). On the same day, the server time on our platforms will be shifted to GMT+3, therefore again one hour from our local time. That means the Max Daily Loss will keep resetting at 01:00 platform time. We have decided to adjust the server timezone in order to get rid of the so-called Sunday candles/double openings that some of you were complaining about.

Before responding to your actual questions, I like to address several topics that were present in the past week.
First I’d like to point out that independently comparing us with our competitors here is fine, however, keep in mind that this forum is dedicated to trading with FTMO, therefore this is not exactly the place to sort out your issues with other companies without any relation to FTMO, let alone to promote them.

And secondly, after reading a couple of posts, it became obvious that my suggestions to Jmoreno have not been heard and sadly, we’re facing a whole new bunch of harmful accusations and assumptions including many false claims. As I’ve stated last week, such repetitious posts add little value to this forum and I believe that rather than back and forth verbal attacks, most of us here are interested in a comprehensive, informative discussion. Some of you were even asking for banning certain users from the thread – I don’t really want to use that as this forum should serve as a public discussion and blocking users could be very easily used against us, so consider that as an absolutely ultimate solution.

Now, quite a lot of posts have been added since the last week, but it’s needed to add that most of them were just parts of a personal conversation between a few members which do not really require my reaction. There were several genuine questions and topics that I’d like to react to, so let’s get to it…


Hello Phronesis, impressive results! Thank you for sharing your results and good luck with the Verification step.

Hello Takisd, I’m not exactly sure what exactly was the issue you’ve approached our support with, but in the context of the post, I assume you were addressing the tick volume.
I’m sure you understand that our support is dealing with hundreds of emails, live chats, and calls on a daily basis. Our support agents are trained to perfectly answer the most common questions and to solve the issues we’re facing the most frequently. If you approach us with an unusual complex issue that requires deeper knowledge, the case is being forwarded to the senior staff. With no disrespect to you, unfortunately we can’t take all the reports that we receive at their face value as we are receiving large volumes of false reports stating all kind of reasons for which an account has been breached, and thus the only way for us to stay fair and impartial is to go by the evidence that is at disposal rather than what is being reported. Luckily all attempted executions are logged by the trading platforms, so the truth is eventually always shown. The proofs/screenshots are required as standard procedure to verify the claims and to provide the senior staff with as much information as possible regarding the specific case. I hope you can understand that we can’t just blindly believe anything that is being reported.
I assure you that no complaints/suggestions are left unattended or ignored, however, not all of them can be resolved immediately. I know you have an in-depth knowledge of the markets gained by years of experience. If you are unhappy with the answer you have received, please escalate the case further so more senior staff is passed your case and can provide a better/more comprehensive answer.

Hi PaulMF, you’re quoting our first post, which is over 3 years old – many conditions have changed since then. I believe you’ve already received a response from Koop somewhere within the subsequent posts, but just to clear things up: the profit targets are present only in the Evaluation stage – 10% during the Challenge and 5% during the Verification. Once you receive the FTMO Account, there are no Profit Targets whatsoever.
What you were later mentioning is the Scaling plan, which consistently profitable traders use to increase their initial capital. The rules are quite simple there, if you manage to gain an overall 10% profit during 4 consecutive months of trading of the FTMO Account while keeping at least 2 of these 4 months profitable, the Initial capital will be increased by 25% of the original account size. It is also important that the trader’s balance needs to be above the initial capital (in profit) during the time of scale-up.

Hi there Qazaq, that‘s quite a long list of questions, so let’s get to it.

1. The difference is that with the Aggressive 50k Challenge, the Maximum Daily Loss is set to 10% of the account and the Max Loss to 20%, therefore you are allowed to risk a bigger portion of your capital.

2. We offer accounts in USD, EUR, GBP, or CZK. You can pick any of these currencies, regardless of where you live. Commissions, trading hours, and brief specifications of each instrument can be found at https://ftmo.com/en/symbols.

3. The server for the Free Trial accounts has exactly the same trading conditions as the ones for Challenges/Verifications/FTMO Accounts.

4. As long as you meet the Trading Objectives without using prohibited trading techniques, you will receive the FTMO Account.
With the mentioned clause 7.1, we’re ensuring our right to reject those traders who pass the Verification but somehow violate the Terms and Conditions, for example by trading on a delayed datafeed (this and other prohibited trading methods are described in clause 5.4). We usually offer those traders a new Verification to give them the chance to pass the Evaluation according to the rules.
And by „The Provider is not responsible for Customer being rejected by the FTMO Trader Program for any or no reason“, we’re claiming our right not to provide the client with our funding due to the reasons unspecified in our Terms and Conditions, e. g. The client publicly harming the good name of the company.
Those cases are however extremely rare. If you pass the Verification according to our T&C’s, you will receive the FTMO Account, regardless of your RRR, consistency, lack of stop-losses, etc.

Hi Saxio, we’re paying our traders using either a bank transfer or Skrill.
Hello Tradista, as I can see, this screenshot was taken during a market rollover, during which the spreads naturally widen. I would therefore advise not to trade at that time as the conditions are usually less convenient. We are aware that the spreads widen around the market rollover and are looking for a solution to further improve the conditions for our traders.
Due to recent events on NZD we have initiated a deeper analysis of the conditions at other brokers and could observe that brokers including major players have similar spread widenings occurring on their platforms naturally. Many retail brokers engage in filtering of the price ticks and other market making practices and you can often see lower spreads around the market rollover and major news in their platforms. We have STP accounts with a direct feed from our liquidity provider pool and although the spreads do widen around the nightly rollover, the orders are always processed at the best available price.

Hi Sampat, this topic has been already discussed many times. As we are not a broker, nor a market maker, we can not take the opposite side of any trades, all of the orders are being sent through Direct Market Access straight to the aggregated pool of liquidity providers and filled for the best possible price. And quite frankly, there’s not a single reason why we should be interested in such practices, finding and funding great traders has worked for us from the start and ever since.

Hello Stirmat, our servers on our platforms are running 24/7, so you can trade whenever the market is open, even crypto on the weekends. Please note that there are multiple hour market closures for Cryptos on the weekends – on Saturday on MT4 and MT5 and on Sunday on cTrader.


That's about it for this week. I believe most of you will welcome the server time adjustments, especially technical traders as you now have the access to a clean chart without the unnecessary Sunday candles. Thank you everyone for your attention and I'm looking forward to reading your feedback, which I'll be responding to next week as usual. Until then, have a good one.

-Tomas

You are closing the first order from MetaTrader perspective. But basically you are just reducing the position by 0.2 lots. Something that does no affect in your profitability. Do you understand now? I really would like you to understand this basic principle.

It is simple arithmetic. Anyone understands it.

Sorry but you didn't explain anything. I would like to read you explanation about why FIFO is bad.

Anyone else going to try the MFF challenge? It opens in 2 hours. I am interested to see the feed differences between MFF (FXpig) and FTMO (unknown kinda but lets say unknown).

1.- You have 1 lot.
2.- The market moves in your direction and you add 1 lot.
3.- Now, you have two lots.
4.- The market moves in the opposite direction.
5.- You close 1 lot. (It does no matter which of the two lots you close, the first or the second one. FIFO says the first one).
6.- The market moves in the right direction again and you close 1 lot. You don't hold any position.


They aren't perishable products. Just the quantity of an asset you hold (position size). Whatever you close first, the result is the same. It is simple arithmetic. Even non-professionals understand this. You get confused because of how some trading platforms summarizes your positions.

Case 1. Trading from a wrongly called hedging account in Europe:


1.- You have 1 lot bought at 100.
2.- The markets move in your direction and you add 1 lot at 110 (second order).
3.- Now, you have 2 lots.
4.- The market moves in the opposite direction.
5.- You close 1 lot of the second order at 105.
6.- Price moves upward again.
7.- You close 1 lot (the first order) at 110.

Result:
- The wrongly called First order: 110 - 100 = 10
- The wrongly called Second order: 105 - 110 = -5
Total: 5


Case 2. Trading from a US account (NFA rules):


1.- You have 1 lot bought at 100.
2.- The markets move in your direction and you add 1 lot at 110 (second order).
3.- Now, you have 2 lots.
4.- The market moves in the opposite direction.
5.- You close 1 lot of the first order at 105.
6.- Price moves upward again.
7.- You close 1 lot (the second order) at 110.

Result:
- The wrongly called First order: 105 - 100 = 5
- The wrongly called Second order: 110 - 110 = 0
Total: 5


pipmaster77 does not have to move his entire family to another country because of this. You can stay.

Do you understand this concept now?

These basic concepts are good to know in order to head the FTMO challenge.

Useless stats again..
You need enough screen time to understand the concept of scaling in and out of core position. This is not the place to discuss these.

Those weren't stats. Basic trading data. You should read it carefully and learn.

i am going to make a suggestion to paul.. i learned the hard way, and recently... these folks are doing something that you are not doing.. if you are not doing what they are doing, then step aside and let them do what they are doing..

this reminds me a bit of when i was a young lad and i would go to the bowling alley at night to watch the other kids playing space invaders... the general rule was that if you were not spending quarters, you had to stand back and make room for the kids that were spending quarters..

the ones that are spending quarters should be given space to do what they are doing.

think about it, mr paul.

Veteran wisdom!