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FTMO - For serious traders

  • #6,581
  • Mar 29, 2021 5:26pm Mar 29, 2021 5:26pm
Quoting ForexGalVA
{quote} Yes, Koop. My bad. I admitted that I'm a bit tech-challenged. It didn't even dawn on me but the Cust Serv agent knew in 2 seconds when I posted a screenshot. Tomorrow I will trade the FTMO free-trial demo with an account that looks like mine. Installed a template I use any other indis I might want but probably won't use. Live and learn. And learn some more. @Takisd, if I got 'credit' for threads or chunks of threads I'd read over the years, you'd see that I've been here on & off. Just never had the time nor inclination (or need) to...

sure. You speak a lot like a few people I have interacted with myself. Your typing style is almost identical actually, including the emojis.
  • #6,582
  • Edited Mar 30, 2021 7:09am Mar 29, 2021 7:59pm | Edited Mar 30, 2021 7:09am
Inserted Video


In this video, at 5:20 and on, are exactly my thoughts why 95% of traders fail FTMO challenges. Ratio Objectives, Spreads and FTMO Incentive for you to fail.

I suggest you watch and listen before you decide to put your hard earned money into the "95% pile of waste".

For 5% of "successful" traders FTMO is legit and does pay profits.
  • #6,583
  • Mar 29, 2021 9:26pm Mar 29, 2021 9:26pm
Quoting driven18
{quote} In this video, at 5:20 and on, are exactly my thoughts why 95% of traders fail FTMO challenges. Ratio Objectives, Spreads and FTMO Incentive for you to fail. I suggest you watch and listen before you decide to put your hard earned money into the "95% pile of waste". For 5% of "successful" traders FTMO is legit and does pay profits.
are you sure this is the right video?
doesn't make sense to me...
  • #6,584
  • Mar 30, 2021 5:34am Mar 30, 2021 5:34am
Inserted Video
  • #6,585
  • Mar 30, 2021 5:43am Mar 30, 2021 5:43am
Quoting Hutch
https://www.youtube.com/watch?v=LK-2mfFssvU

everything you said doesn't make any sense to me. Sorry. Just a poor opinion
  • #6,586
  • Mar 30, 2021 8:29am Mar 30, 2021 8:29am
Quoting driven18
https://www.youtube.com/watch?v=LK-2mfFssvU&t=364s In this video, at 5:20 and on, are exactly my thoughts why 95% of traders fail FTMO challenges. Ratio Objectives, Spreads and FTMO Incentive for you to fail. I suggest you watch and listen before you decide to put your hard earned money into the "95% pile of waste". For 5% of "successful" traders FTMO is legit and does pay profits.
if you can’t make 10% with a max drawdown of 5% , you DONT deserve funded capital , those risk/reward numbers are an industry standard , the guy from the video has no clue ...
  • #6,587
  • Edited 8:54am Mar 30, 2021 8:35am | Edited 8:54am
Quoting Saxio
{quote} if you can’t make 10% with a max drawdown of 5% , you DONT deserve funded capital , those risk/reward numbers are a standard , the guy from the video has no clue ...
In 30 days and that includes weekends so if you had started the challenge today you have 22 trading days to complete it which means you have to average 0.5% a day with out a drawdown of 5% which makes it a hard challenge
  • #6,588
  • Mar 30, 2021 8:46am Mar 30, 2021 8:46am
Quoting Ross88
{quote} In 30 days and that includes weekends so if you had started the challenge today you have 22 trading days to complete it which means you have to average 2.2% a day with out a drawdown of 5% which makes it a hard challenge
Huh? 2.2% a day for 22 days = 10%? Strange math.

20 days x .5% a day = 10% that's not too hard.

The reality is you can actually trade 7 days a week if you care to trade Bitcoin or other cryptos so for a 30 day month you need to earn 0.33% a day. Not difficult for a seasoned trader with impeccable risk management.
Pride always comes before destruction.... -Proverbs 16:18
  • #6,589
  • Mar 30, 2021 8:50am Mar 30, 2021 8:50am
Quoting Expo33
{quote} Huh? 2.2% a day for 22 days = 10%? Strange math. 20 days x .5% a day = 10% that's not too hard. The reality is you can actually trade 7 days a week if you care to trade Bitcoin or other cryptos so for a 30 day month you need to earn 0.33% a day. Not difficult for a seasoned trader with impeccable risk management.
LoL my mistake I'm a jackass some times

people like myself don't trade Bitcoin it's does not help me that other people are allowed to trade it

Still don't know why I write that math was not thinking get kids around me

but still it's the time restriction that makes it challenging
  • #6,590
  • Mar 30, 2021 8:53am Mar 30, 2021 8:53am
Quoting Saxio
{quote} if you can’t make 10% with a max drawdown of 5% , you DONT deserve funded capital , those risk/reward numbers are an industry standard , the guy from the video has no clue ...
industry standard?
Attached Image (click to enlarge)
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there is always, always another trade!!
  • #6,591
  • Edited 9:58am Mar 30, 2021 9:35am | Edited 9:58am
Quoting profitfarmer
{quote} industry standard? {image}
Do not compare hedge funds and the average retail forex trader, apart from the different traded assets and very different trading styles.
sorry for my English, using google translator.
  • #6,592
  • Mar 30, 2021 9:41am Mar 30, 2021 9:41am
Quoting profitfarmer
{quote} industry standard? {image}
Buffet is an investor NOT trader , he holds positions (almost always long)for years/decades , a trader goes long/short for minutes , hours , days ...you compare apples with oranges

EVERY prop shop will demand that minimum return/drawdown ratio of 2
  • #6,593
  • Mar 30, 2021 9:52am Mar 30, 2021 9:52am
Quoting Saxio
{quote} Buffet is an investor NOT trader , he holds positions (almost always long)for years/decades , a trader goes long/short for minutes , hours , days ...you compare apples with oranges EVERY prop shop will demand that minimum return/drawdown ratio of 2

that is not a true statement re:demands. research that every...or EVERY. lol.
as far as Buffett, just slow your horses and think a bit, and you probably realize that long term return may look favorable vs dd, but on short term it is not that easy to produce that x2 ratio.
of course, we very well may live in a different reality. respect yours. but stating definitively things doesnt suit your credibility.

Quoting LoveScalping
{quote} Do not compare hedge funds and the average retail trader, apart from the different traded assets and very different trading styles.
really? different you say?
i keep learning new things. thank you!

beyond the style, the ratio nevertheless is not that different.
a longer period max dd vs a longer period profit.
the common take that W.Buffett is one of the greatest investor. one investing with him could on the long run become a millionaire.
would that be the case depositing your money with him in 2008 and withdrawaing a year later? not really.

now, to the point: "prop trading" shouldnt be your average retail guy, per se, to start with.
beside,
to help you out:
a lot depend on the luck when you started trading. for the return, and for the (max) dd too.
bcos you have a 30 days time limit, that is ticking down.
makes harder to get a long term "industry standard" ratio....

anyways, never mind me, obviusly i have no idea of anything, just passing my time.
there is always, always another trade!!
  • #6,594
  • Mar 30, 2021 10:00am Mar 30, 2021 10:00am
darn be this impossible to pass challenge, these people at ftmo are evil people who dont care about us common folk. look bellow how its impossible to have 5% risk and make 10% profit in short time.
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  • #6,595
  • Mar 30, 2021 10:24am Mar 30, 2021 10:24am
Quoting Rayder4Life
darn be this impossible to pass challenge, these people at ftmo are evil people who dont care about us common folk. look bellow how its impossible to have 5% risk and make 10% profit in short time. {image}
no one said it is impossible.
nor called FTMO evil.
this type of BSing may work for on some "folks" but doubt will work on me. you would need to really try a lot harder to impress.

as for you " common folk"......another free trial for "motivation"!
will be happy to reconsider your results when you should a "funded demo" with 3-6 months consistent results like above.
meanwhile this if anything earns you some empty bragging rights, and exactly 0$.
silly me retail trader guy think this whole "prop trading industry" would be about one thing and one thing only: making money. which a demo trial you have showed failed to do.
more for for today "folks".
there is always, always another trade!!
  • #6,596
  • Mar 30, 2021 10:35am Mar 30, 2021 10:35am
Quoting profitfarmer
{quote} no one said it is impossible. nor called FTMO evil. this type of BSing may work for on some "folks" but doubt will work on me. you would need to really try a lot harder to impress. as for you " common folk"......another free trial for "motivation"! will be happy to reconsider your results when you should a "funded demo" with 3-6 months consistent results like above. meanwhile this if anything earns you some empty bragging rights, and exactly 0$. silly me retail trader guy think this whole "prop trading industry" would be about one thing...
over 90% of traders lose money, guess which part of that are you buddy.
  • #6,597
  • Mar 30, 2021 10:38am Mar 30, 2021 10:38am
Quoting profitfarmer
{quote} no one said it is impossible. nor called FTMO evil. this type of BSing may work for on some "folks" but doubt will work on me. you would need to really try a lot harder to impress. as for you " common folk"......another free trial for "motivation"! will be happy to reconsider your results when you should a "funded demo" with 3-6 months consistent results like above. meanwhile this if anything earns you some empty bragging rights, and exactly 0$. silly me retail trader guy think this whole "prop trading industry" would be about one thing...
Lmao holy sh*t Farmer, why not just load up a double barrel shotty and blast Rayder's dreams to smithereens?

Quoting Expo33
{quote} Huh? 2.2% a day for 22 days = 10%? Strange math. 20 days x .5% a day = 10% that's not too hard. The reality is you can actually trade 7 days a week if you care to trade Bitcoin or other cryptos so for a 30 day month you need to earn 0.33% a day. Not difficult for a seasoned trader with impeccable risk management.
I think most people try too hard to reach target before the 10 minimum days elapses that they allocate risk per trade poorly and blow up too soon or just go through a roller coaster of results.
I don't think the challenge is too difficult if one has a proven profitable trading strategy.
  • #6,598
  • Mar 30, 2021 10:54am Mar 30, 2021 10:54am
Quoting Ross88
{quote} LoL my mistake I'm a jackass some times people like myself don't trade Bitcoin it's does not help me that other people are allowed to trade it Still don't know why I write that math was not thinking get kids around me but still it's the time restriction that makes it challenging
I understand. I get up at 4AM so I have time to think before my daughter wakes up.

Even with 20 days or so you still only need $500/day with a $5000 allowable drawdown for a 100K account. At least there's some flexibility with the drawdown but I imagine the time constraint may affect swing traders more than me. I'm an intraday quasi scalper so I don't feel any time pressure.

Common core math is bad enough in the US. I thought maybe that was the new and improved common core math for forex traders
Pride always comes before destruction.... -Proverbs 16:18
  • #6,599
  • Mar 30, 2021 10:58am Mar 30, 2021 10:58am
Quoting Koop
{quote} Lmao holy sh*t Farmer, why not just load up a double barrel shotty and blast Rayder's dreams to smithereens? {quote} I think most people try too hard to reach target before the 10 minimum days elapses that they allocate risk per trade poorly and blow up too soon or just go through a roller coaster of results. I don't think the challenge is too difficult if one has a proven profitable trading strategy.
Agree.

Just because you can pass in 10 days doesn't mean you should necessarily try to do that. Unfortunately, we live in an age of instant gratification where we all can get sucked into that mindset.
Pride always comes before destruction.... -Proverbs 16:18
  • #6,600
  • Mar 30, 2021 12:35pm Mar 30, 2021 12:35pm
Quoting Rayder4Life
look bellow how its impossible to have 5% risk and make 10% profit in short time. {image}
Nicely done, Rayder4Life.
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