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AkaMRP FTMO Journey 45 replies

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Attachments: FTMO - For serious traders
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FTMO - For serious traders

i still concern about swing account, as some time market rollover, the spread is widen and hit the target of drawdown (floating), so do FTMO rule should change due to market situation on this regard
Quoting potay90
i still concern about swing account, as some time market rollover, the spread is widen and hit the target of drawdown (floating), so do FTMO rule should change due to market situation on this regard

lol.. If you are that over leveraged that you will hit your restrictions during rollover you should lower your lot size. You can't change rollover conditions, they are natural in the market.
Quoting Takisd
{quote} lol.. If you are that over leveraged that you will hit your restrictions during rollover you should lower your lot size. You can't change rollover conditions, they are natural in the market.
Or just close and reopen after spreads normalize.
Quoting potay90
i still concern about swing account, as some time market rollover, the spread is widen and hit the target of drawdown (floating), so do FTMO rule should change due to market situation on this regard
I did trial on swing account as it suits my trading, leverage is irrelevant to me i adjust accordingly
On Point All Time Return: na
Quoting Tomas-ftmo
Hello traders, It is my pleasure to welcome you to another regular Friday update. Once again it will be a rather short one, as, since the recent announcement, we’ve been dedicating our time mostly to internal operations. Let’s start with the platforms: there are no major holidays announced for the following week, and therefore no planned trading hours changes for any of our instruments. Cryptocurrencies will also remain available throughout the whole weekend as no platform break is scheduled for this weekend. Specifically thanks to those occasional...
Hi Tomas,

My suggestions are same which I have posting for some time now.

Phase 1 target to be reduced to 8 %.

Phase 2 target to remain as 5 %.

Biweekly payments.

Fees may ( may ) be reduced.
Intraday only.
Quote
Hi PayTheBid, as we want to keep the trading conditions on the Challenge and Verification exactly the same as on the FTMO Account (so the trader is already used to them by the time he/she becomes an FTMO Trader), the leverage on both Evaluation Swing accounts and on the FTMO Account Swing is identical.

I think the free trial is no leverage though?
On Point All Time Return: na
Who knows any ftmo label?
Banele
What does the current profit mean? The 1st guy earned 57k today?
Attached Image (click to enlarge)
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To Whom It May Concern

I signed up for the free 100k to test this out. First night I traded GBP/NZD, I did three (3) trades the first trade I did was a BUY I made like $30.00 got out, second trade I did a SELL and I lost like 300 - 500 dollars (should not have closed it).
Third trade I did was a BUY (I calculated my 10k lost knew how low I could go) the market went up 7-8 pips then BOOM down to a 9.6K loss then it went back up to a 7.1K profit. Before I could close the trade though the market dropped 2.2K for a net 4.9K profit. My chest was puffed up TILL I saw that my Daily Loss Limit -9.6K is counting towards my Total Loss Limit -9.6K out 20K. I DID NOT CLOSE THIS TRADE and I understand that if I hit DLL while in a trade I'm toast understood. I understand if I lose a bunch of trades by closing them that adds up. But what I do not understand I did not lose any money on the trade, yet I am be docked on the TLL. I went into the back office today and I see my TLL is now 25K, my question is why am I being docked 9.6K on my TLL, it was not a losing trade.

By the way I trade only: AUD/JPY GBP/JPY GBP/AUD GBP/NZD. GBP/NZD.
Quoting Arktos.auroc
the market went up 7-8 pips then BOOM down to a 9.6K loss

Sounds like that took you well over the daily loss limit, which trails open equity as well as closed positions.
Quoting fx11trade
What does the current profit mean? The 1st guy earned 57k today? {image}
I want to know this too...someone explain

is it Daily Profit?

or Month?
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: -1.8% BTC/USD NASDAQ
Quoting Arktos.auroc
To Whom It May Concern I signed up for the free 100k to test this out. First night I traded GBP/NZD, I did three (3) trades the first trade I did was a BUY I made like $30.00 got out, second trade I did a SELL and I lost like 300 - 500 dollars (should not have closed it). Third trade I did was a BUY (I calculated my 10k lost knew how low I could go) the market went up 7-8 pips then BOOM down to a 9.6K loss then it went back up to a 7.1K profit.
Lol your risk management seems all over the place. You happily closed one trade in $30 profit, then closed the next trade in a -$500 loss and regretted closing it.
Followed by a 9k+ floating loss in one trade? I'm going to assume that you don't really plan to trade such a challenge like that and were probably just testing the execution and other conditions out.

Either ways, the rules clearly say that all drawdown is calculated based on Balance and equity. You don't have to close the trade for it to count. Your balance as well as floating loss must never exceed 5% on any given day as Quickly already explained.
First I like to thank both Quickly and Koop for answering my statement in a professional adult manner.
Now,

Quickly: “Sounds like that took you well over the daily loss limit, which trails open equity as well as closed positions”.

No, I did not go over my daily lost limit, 10K was the DLL. I do realize that if I hit DLL either in open or closed positions, I’m toast, understood.

Koop: Lol your risk management seems all over the place. You happily closed one trade in $30 profit, then closed the next trade in a -$500 loss and regretted closing it.

The reason for closing both of the first two trades the market turned as soon as I open the positions, I trade the most volatile pairs (serious wicks both top and bottom when the market is humming along, in other words major swings). The second trade swung back as soon as I closed it.

Koop: Followed by a 9k+ floating loss in one trade? I'm going to assume that you don't really plan to trade such a challenge like that and were probably just testing the execution and other conditions out.


When the third trade came due, I said F it and decided double my lots and ride it out. I knew the total number of pips to $10K (55.18763 pips $181.20 per). I will be the first one to admit I over leveraged; I normally like at least 200 pip SL during the Asia/London & the London/NY because of the swings. I was on the computer during the Asia session at the time and I did not expect that much activity (lesson learnt). Those Asian’s are serious about the Pound Yen, jeez. That’s what I get for playing with the Widow Maker.

Koop: Either ways, the rules clearly say that all drawdown is calculated based on Balance and equity. You don't have to close the trade for it to count. Your balance as well as floating loss must never exceed 5% on any given day as Quickly already explained.

I agree with and understand about the drawdowns being based on Balance and Equity.
The second trade yes, I lost a few pips ($181.2 per) it was counted against me in both DLL and my TLL. That is my understanding on DLL and TLL.
“BUT” how can my third trade once closed be counted against my DLL and TLL when I did not lose any pips by the time, I closed the trade (thereby null and voiding the floating loss), I profited from the trade.
Now if I am wrong that means every time the market is making ripples and waves in the opposite direction when I am in an open trade there is no way for me to win. I am an aggressive trader in an ultra-aggressive market. I am cautious but aggressive, you have to be to trade these pairs. Now if I wanted ultra-safe and watch paint dry, I’ll trade EURO/CHF on the four hour and daily charts.
Please let me know if my understanding of this incorrect.
Quoting Arktos.auroc
To Whom It May Concern I signed up for the free 100k to test this out. First night I traded GBP/NZD, I did three (3) trades the first trade I did was a BUY I made like $30.00 got out, second trade I did a SELL and I lost like 300 - 500 dollars (should not have closed it). Third trade I did was a BUY (I calculated my 10k lost knew how low I could go) the market went up 7-8 pips then BOOM down to a 9.6K loss then it went back up to a 7.1K profit. Before I could close the trade though the market dropped 2.2K for a net 4.9K profit. My chest was puffed...

Say my daily loss limit is £7k

I open first trade it is in 3k profit

I open 2nd trade it goes to 5k loss

I open 3rd trade it goes 5.5k loss

Game over for daily loss limit, closed or not

basically dont go to 7k + wipeout any profit trades drawdown at anytime in a day

Did you also allow for commission as this is also taken into account?

or am i wrong with this and profit is not added to your daily loss only max loss?
On Point All Time Return: na
Quoting Arktos.auroc
I signed up for the free 100k to test this out
Quoting Arktos.auroc
No, I did not go over my daily lost limit, 10K was the DLL.
My understanding is that the daily loss limit for the 100k account is $5,000.

One of us is mistaken.
Quoting Quickly
{quote}{quote} My understanding is that the daily loss limit for the 100k account is $5,000. One of us is mistaken.
Yes, daily DD is 5% so 5K on a 100K.
I may be wrong here so do check but according to the website (Be careful as the Maximum Daily Loss resets at midnight CE(S)T!) .........

The daily loss reset is at Midnight CE(ST).... Central European Summer Time which for me in Australia is 8am ..... FTMO new day for me is at 7am so its possible to have a loss during a given day and think that the new day loss has reset at broker midnight, it hasn't, not for one more hour until midnight CE(S)T.

I stand to be corrected and perhaps Otakar would clarify if I'm wrong.
Hello Traders,
Once again we find ourselves at the end of the week and that, among other things, implies another regular FTMO ForexFactory update.

First, important news for all crypto traders: a scheduled maintenance break on all our trading platforms can be expected tomorrow on Saturday, 24th of July. Trading will be disabled from 8:00 to 18:00 platform time (GMT+3).

As I’ve informed you last week, our dedication is currently aimed at improving our backend systems. Nonetheless, just a few days ago, we launched a handy feature for our traders that is already available in the Client Area, and that is the Notification button.
The small doorbell icon in the Client Area will contain all the important notifications such as new login credentials, payout confirmations, upcoming news events, etc.

Although I’m sad I won’t be able to follow your trading paths in such detail any further, my other duties within the company are making me more and more busy and due to time limitations, I’m no longer able to spend as much time on this thread as we deem necessary. For this reason, ForexFactory will be reviewed and managed by my colleague Vitek-FTMO. I will still pop in every now and then, but I will not post here any longer.

Finally, moving on to our thread: fewer posts appeared here compared to the last week, but nevertheless, there are several interesting posts I would like to react to.
Please find my responses below:


Quoting Wags
Had a little pop at the free trial for the swing account this week {image} {image}
Hi Wags, thank you for sharing your results. I think this also illustrates quite well that with a decent capital, the 1:30 leverage is not an obstacle.

Quoting potay90
i still concern about swing account, as some time market rollover, the spread is widen and hit the target of drawdown (floating), so do FTMO rule should change due to market situation on this regard
Hi Potay90, also I do agree that the rollover spreads may represent a concern for swing traders to some extent, it is not a major issue that should hold you back from trading. Although we’re actively trying to improve our conditions it is a natural occurrence that can not be quite effectively neutralized.
In conclusion, I would recommend you to test the spreads and trading conditions in general on our Free Trial account (which has the same trading conditions as all the other ones) yourself.

Quoting NtraderBM
Who knows any ftmo label?
Hello NtraderBM, I’m not really sure what exactly you mean by the “ftmo label”. Could you perhaps make your question more specific?

Quoting fx11trade
What does the current profit mean? The 1st guy earned 57k today? {image}
Hi Fx11trade, the “Profit” column indicates the profit generated on our currently active FTMO Accounts. In other words, it is a difference between the present equity and the initial balance of the particular account.

Quoting Arktos.auroc
To Whom It May Concern I signed up for the free 100k to test this out. First night I traded GBP/NZD, I did three (3) trades the first trade I did was a BUY I made like $30.00 got out, second trade I did a SELL and I lost like 300 - 500 dollars (should not have closed it). Third trade I did was a BUY (I calculated my 10k lost knew how low I could go) the market went up 7-8 pips then BOOM down to a 9.6K loss then it went back up to a 7.1K profit. Before I could close the trade though the market dropped 2.2K for a net 4.9K profit. My chest was puffed...
Hello Arktos.auroc, your situation is the perfect example of why we always recommend our new traders to go for the Free Trial first.
Please bear in mind that both Max Daily Loss limit and Max Loss limit are counting your equity loss, not your balance loss. Therefore if there is an open position that goes into the floating loss, the loss will be already reflected in your Trading Objectives, despite not being closed yet.
Floating loss is your account exposure. From the investor's perspective, a trader cannot keep the open positions in excess, hoping they might turn around into profit. That is why we’ve designed the Trading Objectives in a way that is fair both for the trader and for us, as the investor.
Regarding the volatility on GBPNZD you implied in your post, NZD is notorious for its wild swings during night sessions and the rollover spreads widen significantly very often.


That’s it. Hope I haven’t missed anything important. I wish all of you the best of luck with all your trades and other life endeavours. As said in the beginning, the next update will be done by Vitek-FTMO.
{quote}Hello ChilledT, I’m glad to see you back after more than a year, and moreover about the fact that you remain happy with our services. Thank you for your feedback and I wish you many large Profit Splits ahead. {quote}

Thanks Tomas. Loving the new Swing account by the way. It suits my style of trading a lot better. Here's to many more Profit Splits! :-)
Quoting ChilledT
{quote}Hello ChilledT, I’m glad to see you back after more than a year, and moreover about the fact that you remain happy with our services. Thank you for your feedback and I wish you many large Profit Splits ahead. {quote} Thanks Tomas. Loving the new Swing account by the way. It suits my style of trading a lot better. Here's to many more Profit Splits! :-)
Same here, only done about 6 days on the trial but it looks good
On Point All Time Return: na
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