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FTMO - For serious traders

  • #7,561
  • May 5, 2021 6:37pm May 5, 2021 6:37pm
Quoting maahome
{quote} Yes it uses FF news. cheers maahome
I've found this one, its an excellent one with great options including stopping EA trades before specific times/events for those who need to use it but unfortunately does not correlate with the FF calendar. If you would be willing to share your version which uses FF's calendar as a source I would highly appreciate it.

Regards.
Attached File(s)
File Type: ex4 news-calendar-indicator.ex4   198 KB | 276 downloads
  • #7,562
  • May 5, 2021 10:09pm May 5, 2021 10:09pm
Quoting delta-vega
I've also continued to run into spurious max daily loss violations. My understanding was the root cause was identified and permanently resolved mitigated (okay, I re-read this and feel a little better) but I've run into it several times since, most recently on my last challenge and then again today on my verification (7029362; ticket RJH-KNGTQ-931). FTMO does extend the time once resolved, which is very appreciated, but this is also nerve-racking and takes a lot of time on the trader's end.
Just to give an update, FTMO got back to me relatively quickly, confirmed there was no violation, and gave me some extra time. Very happy with that, thanks. I think they even had it ready for me by the next trading day.

But then unfortunately it happened again today, this time saying my max daily floating loss was $1642 higher than it ever was, so I'm locked out again. I documented it (XHK-SCLQQ-447) and I'm sure they will take care of it. It's still super stressful, although less so now that I know the drill and had a good idea when it happened, but it's still a lot of work to document and a big worry.

It was a bear of a day. Had caught up from the previous day, was well into the green at one point but dallied on taking profit and ended up just slightly ahead. Honestly I should have called it there, especially as I'm behind on some other work, but I saw the move I'd been waiting for happen and chased it only to get chopped up going into the close. Gonna have to grind for a while.

Tomas, if you wouldn't mind taking a look at my earlier post quoted above it mentions the more general questions I still have. Especially I'd love to learn more about what the backend communication issue is, just for peace of mind and to further make documenting things a little easier on our end when issues happen. It is really helpful to know the last time it was good and then when it was flagged, just looking for any more if that's possible. Also, if you're willing, to have an email conversation as I really do think I might be able to suggest low-cost ways to automate a fix. You're all working on the long-term, of course, but I've seen good success fitting solutions like that for critical systems in the meantime.

So... people mentioned overtrading. One thing that others are probably aware of that I thought I'd share: besides the increased risk and stress when approaching the daily loss threshold, the profiles of the trades themselves change. The risk of a futile trade is higher, even if a substantial cushion is left before the threshold, because one can't retry after a loss and is likely to abort earlier than otherwise just due to the emotional stakes. So besides setting a personal limit well before the threshold as FTMO advises, it can be good to leave even a cushion beyond that. Tuning the position size when down for the day can also help, so the risk is proportional to the daily range remaining, until back to even. If I'd done that I would have been able to keep trading for the day and trades that I had to close for a loss (meaning less to work with the next day) would have been profitable.
  • #7,563
  • May 6, 2021 2:40am May 6, 2021 2:40am
Quoting delta-vega
{quote} Just to give an update, FTMO got back to me relatively quickly, confirmed there was no violation, and gave me some extra time. Very happy with that, thanks. I think they even had it ready for me by the next trading day. But then unfortunately it happened again today, this time saying my max daily floating loss was $1642 higher than it ever was, so I'm locked out again. I documented it (XHK-SCLQQ-447) and I'm sure they will take care of it. It's still super stressful, although less so now that I know the drill and had a good idea when it...


Hi DeltaVega,


I have been facing issues as well with the Metrix on the free trial account however.

This has put me off from trying the paid challenge. My issues are with stop losses when they are hit either in profit or loss they are not counted (on some days)

So this causes either exaggeration or underestimation of the amounts.

I have contacted support and gave them my e-mail no one got back to me. It has been I think a month or so.

Did you use ''Bandicam'' to prove your end ? How did you document it ?

Anyone else using ''Bandicam'' ? And what settings would you suggest ? Is this a solution , or not ?

I do understand that FTMO is able to do investigations from their end and solve this issues (when this happens) but if this happens frequently something dodgy might be behind these issues.
  • #7,564
  • May 6, 2021 2:50am May 6, 2021 2:50am
guys, yes, I agree with you that the metric has not been working as it should lately, BUT you know mathematics is it difficult for you to subtract one number from another? you start your trading day, you should already have an acceptable risk in mind so as not to update the metric every minute (despite the fact that its update time is every 10 minutes).
sorry for my English, using google translator.
  • #7,565
  • May 6, 2021 3:14am May 6, 2021 3:14am
Quoting LoveScalping
guys, yes, I agree with you that the metric has not been working as it should lately, BUT you know mathematics is it difficult for you to subtract one number from another? you start your trading day, you should already have an acceptable risk in mind so as not to update the metric every minute (despite the fact that its update time is every 10 minutes).
The problem is that (on the surface at least) the metrix is what initially determines if you've passed or failed whether or not you do your own personal calculations, so I understand the concern.

I can't imagine being right by my own calculations only to get different and sometimes disqualifying results from the metrix, then having to get in a tug of war with support over proofs and investigation.

They just need to fix the metrix issues permanently and get that out of the way.

I also wonder if this might be a separate server issue peculiar to only a certain set of people, because I haven't experienced any strange issues on my trial "metrixes" for a long time.
  • #7,566
  • May 6, 2021 3:55am May 6, 2021 3:55am
Quoting Koop
{quote} The problem is that (on the surface at least) the metrix is what initially determines if you've passed or failed whether or not you do your own personal calculations, so I understand the concern. I can't imagine being right by my own calculations only to get different and sometimes disqualifying results from the metrix, then having to get in a tug of war with support over proofs and investigation. They just need to fix the metrix issues permanently and get that out of the way. I also wonder if this might be a separate server issue peculiar...


Well said Koop. Some people get it.



''Do your own calculations or manage your risk'' is irrelevant as people can do both. This industry is ARITHMETICS based so numbers need to be correct.

My questions are : Is FTMO willing to fix these issues ? If not sth dodgy is happening.

2)How did Vega and other people prove the opposite ?

3)Settings for Bandicam as to not occupy 30GB per trading day or other solutions.




Imagine a shop owner sometimes gives change wrong either on purpose or by omission. When caught at a short period , things are settled. Some people however do not care if it's a small amount, some people do not notice and other people will blame themselves as it is he said/she said.

I do not want to protect anyone. I am asking how do you prove the opposite as I am a type of person that I do care about correct calculations on an ARITHMETICS based industry.

Cheers
  • #7,567
  • May 6, 2021 4:00am May 6, 2021 4:00am
Quoting Phenotype
{quote} Well said Koop. Some people get it. ''Do your own calculations or manage your risk'' is irrelevant as people can do both. This industry is ARITHMETICS based so numbers need to be correct. My questions are : Is FTMO willing to fix these issues ? If not sth dodgy is happening. 2)How did Vega and other people prove the opposite ? 3)Settings for Bandicam as to not occupy 30GB per trading day or other solutions. Imagine a shop owner sometimes gives change wrong either on purpose or by omission. When caught at a short period , things are settled....
there is also a mentor application, it performs almost the same functions as the metric only in real time on the MT4 platform, try it.
sorry for my English, using google translator.
  • #7,568
  • May 6, 2021 4:03am May 6, 2021 4:03am
Quoting LoveScalping
guys, yes, I agree with you that the metric has not been working as it should lately, BUT you know mathematics is it difficult for you to subtract one number from another? you start your trading day, you should already have an acceptable risk in mind so as not to update the metric every minute (despite the fact that its update time is every 10 minutes).

I also love scalping and my risk is 0.5% per trade. At about 3% loss I will stop for the day. Start fresh another day. This is not about risk management. I am not talking about update time 10 minutes we are talking about wrong updates for a day. And some parts updating wrong. Please read Vega's posts, mine and zapcity (who has now disappeared and did not give me an update if he/she got it resolved as it was a paid challenge.
  • #7,569
  • May 6, 2021 4:31am May 6, 2021 4:31am
Quoting Phenotype
{quote} Well said Koop. Some people get it. ''Do your own calculations or manage your risk'' is irrelevant as people can do both. This industry is ARITHMETICS based so numbers need to be correct. My questions are : Is FTMO willing to fix these issues ? If not sth dodgy is happening. 2)How did Vega and other people prove the opposite ? 3)Settings for Bandicam as to not occupy 30GB per trading day or other solutions. Imagine a shop owner sometimes gives change wrong either on purpose or by omission. When caught at a short period , things are settled....
Bandicam is some sort of screen recording software right? I'm not sure that would be best for this sort of thing as it would be too large a file and you would probably need hours to search and isolate the problem or time it happened.

Wouldn't it be best to find the trade on your trade history that the metrix claims was responsible for the loss or violation, then calculate the pip value on the trade and multiply it by how far price moved while the trade was still on, to get the max equity drawdown on that trade before it either reversed for a profit or closed out at a loss?

If it's just a closed profit or loss that hasn't reflected on the metrix yet, I guess one could just give it some time to update while you have your own records in the event of any need for reconciliation.

All these shouldn't even be an issue though, trading on its own is stressful enough.
  • #7,570
  • May 6, 2021 4:34am May 6, 2021 4:34am
Quoting Koop
{quote} Bandicam is some sort of screen recording software right? I'm not sure that would be best for this sort of thing as it would be too large a file and you would probably need hours to search and isolate the problem or time it happened. Wouldn't it be best to find the trade on your trade history that the metrix claims was responsible for the loss or violation, then calculate the pip value on the trade and multiply it by how far price moved while the trade was still on, to get the max equity drawdown on that trade before it either reversed for a profit or closed out at a loss? If it's just a closed profit or loss that hasn't reflected on the metrix yet, I guess one could just give it some time to update while you have your own records in the event of any need for reconciliation. All these shouldn't even be an issue though, trading on its own is stressful enough.
I don't understand a little .. why do need to record your screen? to show that the metric sometimes does not work correctly? so these guys themselves know it and I think they are working in this direction
sorry for my English, using google translator.
  • #7,571
  • May 6, 2021 6:50am May 6, 2021 6:50am
Quoting Koop
{quote} Bandicam is some sort of screen recording software right? I'm not sure that would be best for this sort of thing as it would be too large a file and you would probably need hours to search and isolate the problem or time it happened. Wouldn't it be best to find the trade on your trade history that the metrix claims was responsible for the loss or violation, then calculate the pip value on the trade and multiply it by how far price moved while the trade was still on, to get the max equity drawdown on that trade before it either reversed for...
or FTMO can actually fix their metrix and make it real time, why topstep can have real time metrix that shows u live as ur trade goes on how much u have left to lose before u violate the daily loss, and they also stop you out automatically if it goes above it, its not rocket science to implement that
  • #7,572
  • May 6, 2021 8:49am May 6, 2021 8:49am
Quoting Rayder4Life
{quote} or FTMO can actually fix their metrix and make it real time, why topstep can have real time metrix that shows u live as ur trade goes on how much u have left to lose before u violate the daily loss, and they also stop you out automatically if it goes above it, its not rocket science to implement that
Yeah, I wonder what it would take to make it update in real time. I don't know if it's possible but 4 years is too long to still be having these sort of metrix issues.
  • #7,573
  • May 6, 2021 9:30am May 6, 2021 9:30am
Quoting Rayder4Life
why topstep can have real time metrix that shows u live as ur trade goes on how much u have left to lose before u violate the daily loss, and they also stop you out automatically if it goes above it, its not rocket science to implement that
Exactly.

(And that's without mentioning that FTMO require 10% profit in a month and Topstep require 6% without any time-limit at all, and that FTMO costs twice as much to try, and so on.)

Quoting Koop
I wonder what it would take to make it update in real time. I don't know if it's possible but 4 years is too long to still be having these sort of metrix issues.
This is a big part of the problem with FTMO.

They're clearly honest people with integrity, and there's a lot to like about them.

But their unending technical issues are a disaster.

It's all very well saying (as their fan-club regularly does) things like "You need to keep your own records, and not rely on FTMO's metrix to make your trading decisions", but this is missing the obvious point that it's actually FTMO's automated monitoring systems that determine whether or not you've passed the Challenge!
  • #7,574
  • May 6, 2021 10:02am May 6, 2021 10:02am
Quoting KarlKraus
{quote} Exactly. (And that's without mentioning that FTMO require 10% profit in a month and Topstep require 6% without any time-limit at all, and that FTMO costs twice as much to try, and so on.) {quote} This is a big part of the problem with FTMO. They're clearly honest people with integrity, and there's a lot to like about them. But their unending technical issues are a disaster. It's all very well saying (as their fan-club regularly does) things like "You need to keep your own records, and not rely on FTMO's metrix to make your trading decisions",...
All I can say is just wow..... 500K in buying power with 100:1 leverage, that is some clever marketing. It's a 5K account!!!!!! For $275/month. Yeah, way better deal
  • #7,575
  • May 6, 2021 10:24am May 6, 2021 10:24am
Quoting pipmaster77
{quote} All I can say is just wow..... 500K in buying power with 100:1 leverage, that is some clever marketing. It's a 5K account!!!!!! For $275/month. Yeah, way better deal
i doubt anyone trades forex with topstep, most go for the futures
  • #7,576
  • May 6, 2021 11:03am May 6, 2021 11:03am
Quoting Rayder4Life
{quote} i doubt anyone trades forex with topstep, most go for the futures
you are right. was there for a while during my hiatus from this forum and know some funded guys too. thing is, hard to remain funded due to all those restrictions and stupid rules. also, you must pick up their call if they call you during US trading session else your account can be terminated (heard this from the funded guys) just fyi in case you are the kind who always have phone on silent mode lmao
  • #7,577
  • May 6, 2021 11:15am May 6, 2021 11:15am
Quoting KarlKraus
{quote} Exactly. (And that's without mentioning that FTMO require 10% profit in a month and Topstep require 6% without any time-limit at all, and that FTMO costs twice as much to try, and so on.) {quote} This is a big part of the problem with FTMO. They're clearly honest people with integrity, and there's a lot to like about them. But their unending technical issues are a disaster. It's all very well saying (as their fan-club regularly does) things like "You need to keep your own records, and not rely on FTMO's metrix to make your trading decisions",...
Lol we'll never agree on Topstep being the better option.
Neither Topsteptrader or Topstepfx fall amongst the top 7 remote firms IMO. Not even top 10.
FTMO is easily top 2.

But you're spot on about the last part regarding FTMO technicalities.
  • #7,578
  • May 6, 2021 11:27am May 6, 2021 11:27am
Quoting Koop
{quote} Lol we'll never agree on Topstep being the better option. Neither Topsteptrader or Topstepfx fall amongst the top 7 remote firms IMO. Not even top 10. FTMO is easily top 2. But you're spot on about the last part regarding FTMO technicalities.
who are the top 2 in your opinion?

FTMO....and..
Intraday only.
  • #7,579
  • May 6, 2021 11:30am May 6, 2021 11:30am
I would say top 2 are FTMO and Enfoid, but MFF will move into the discussion once I see some big payouts.
  • #7,580
  • May 6, 2021 11:33am May 6, 2021 11:33am
Quoting pipmaster77
I would say top 2 are FTMO and Enfoid, but MFF will move into the discussion once I see some big payouts.
Heres mine.

But.... I will not keep it here for long because my financial status is none of anyones business

EDIT: Removed and dm'd
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