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FTMO - For serious traders

  • #7,941
  • Sep 5, 2021 10:16am Sep 5, 2021 10:16am
Quoting C-12
{quote} It makes sense doesn't it? A swing trading challenge with a 30 day time limit is a bit of a misnomer. 60 challenge / 60 verification sounds reasonable to me. If people complete it faster then that's a bonus. I believe there are some new prop firms that don't have a time limit at all.
It won't change. As long as you have the option to trade a regular account for challenge/verification and then switch it, that is what they will suggest. The firms with the no time limit are all of the "scaling" model firms, where the initial fee is higher than the DD they offer. No time limit as there is 0 risk to the firm. With those models, you are better off putting the fee in a personal account. You will have to trade the same size position or even smaller with the firm than you would in a personal account, so you will wind up with tens of thousands more on your own over time.
I am a big advocate of prop firms, but only the challenge/eval models. I currently use MFF and FTMO.
  • #7,942
  • Sep 5, 2021 10:47am Sep 5, 2021 10:47am
Quoting pipmaster77
{quote} It won't change. As long as you have the option to trade a regular account for challenge/verification and then switch it, that is what they will suggest.
That's fine and entirely up to FTMO. I am merely suggesting an option to support and promote their swing account offering.

A 30 day time limit has nothing to do swing trading, so why offer it as a challenge on the same terms?
  • #7,943
  • Sep 5, 2021 10:53am Sep 5, 2021 10:53am
Quoting C-12
{quote} That's fine and entirely up to FTMO. I am merely suggesting an option to support and promote their swing account offering. A 30 day time limit has nothing to do swing trading.
I agree. I am, in general a swing trader as well. I do some intraday trades as well. I have to pass these challenges with a much higher risk profile than I trade with normally. It's basically 2-2.5 times what I normally trade with. The key is just getting the account, once that is done, no time pressure, no targets, fee has been refunded after first split. Only objective after securing the account is to not lose it by violating daily or max DD. With my risk, not a chance I will ever do that.
  • #7,944
  • Edited 12:10pm Sep 5, 2021 11:21am | Edited 12:10pm
Quoting fmsfx
{quote} Since the option to trade a Swing account with lower leverage I tend to agree with this idea as FTMO wants 90 days of trading combining the Challenge and Verification. How about just 45 and 45 instead of the 30 and 60 days? Good suggestion C-12. Dave
If they like to be in top of these business they have to make adjustments and offer new options these is awesome suggestion 45/45 (y).
  • #7,945
  • Sep 5, 2021 11:31am Sep 5, 2021 11:31am
Quoting C-12
{quote} That's fine and entirely up to FTMO. I am merely suggesting an option to support and promote their swing account offering. A 30 day time limit has nothing to do swing trading, so why offer it as a challenge on the same terms?
In some way they want "fast money" bearing in mind fact that 95% of ppl lose money in trading from 100 ppl who have start challange in 1 month 95 lose x 540$ (100 K account) = 51300 $ in 1 month these are clean money. In other hand they have these who have pass challanges and take fee from them 30% profits... the only lose for them are thy who lose accounts after 1 st profitable month when fee for challange is refunded...
  • #7,946
  • Sep 5, 2021 12:18pm Sep 5, 2021 12:18pm
Quoting mizi123
{quote} In some way they want "fast money" bearing in mind fact that 95% of ppl lose money in trading from 100 ppl who have start challange in 1 month 95 lose x 540$ (100 K account) = 51300 $ in 1 month these are clean money. In other hand they have these who have pass challanges and take fee from them 30% profits... the only lose for them are thy who lose accounts after 1 st profitable month when fee for challange is refunded...
It makes for a profitable business model I guess. But competition exists and firms need to adapt to changing market conditions.

A business model built around client failure is not one that's going to be sustainable forever.
  • #7,947
  • Sep 5, 2021 12:22pm Sep 5, 2021 12:22pm
Quoting C-12
{quote} It makes for a good business model I guess. But in the end competition exists and firms need to adapt to changing market conditions. A business model built around client failure is not one that's going to be sustainable forever.
Prop firm hub is better place for challangeing ideas than here i suggest you to come there time after time there are a plenty of traders with awesome and cleare ideas
https://www.forexfactory.com/thread/...9#post13693399
  • #7,948
  • Sep 5, 2021 3:49pm Sep 5, 2021 3:49pm
Quoting C-12
{quote} It makes for a profitable business model I guess. But competition exists and firms need to adapt to changing market conditions. A business model built around client failure is not one that's going to be sustainable forever.
Las Vegas seems to be doing fine
Pride always comes before destruction.... -Proverbs 16:18
  • #7,949
  • Sep 5, 2021 4:22pm Sep 5, 2021 4:22pm
Quoting Expo33
{quote} Las Vegas seems to be doing fine
Or the whole retail trading thing...
  • #7,950
  • Sep 5, 2021 4:51pm Sep 5, 2021 4:51pm
Quoting Expo33
{quote} Las Vegas seems to be doing fine

Supply and demand
  • #7,951
  • Edited 9:33am Sep 6, 2021 6:08am | Edited 9:33am
Hi guys
I noticed a problem with the platform
Hit the stoop. two points before touching it
And hit the target after skipping it by two points.
Is this legal?
On 06/09 gbp nzd did you exceed the price 1.94139؟
in your platform
Attached Image (click to enlarge)
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  • #7,952
  • Sep 6, 2021 7:09am Sep 6, 2021 7:09am
Quoting Expo33
{quote} Las Vegas seems to be doing fine
And if you do win more money, more often than you lose money, they can ban you. In the Uk they say that is having your cake and eating it. :-)

Fantastic business model: encourage the losers and ban the persistent/profitable winners

EDIT: This model is also adopted in the UK, possibly global.
every Saint has a past. Every Sinner has a Future
  • #7,953
  • Sep 6, 2021 12:18pm Sep 6, 2021 12:18pm
Quoting tameurnia
Hi guys I noticed a problem with the platform Hit the stoop. two points before touching it And hit the target after skipping it by two points. Is this legal? On 06/09 gbp nzd did you exceed the price 1.94139؟ in your platform {image}
The Chart is giving you the Bid price and your stop loss has been a buy stop so the offer price (Ask) has been hit it seems.

My personal Broker Admiral Markets is showing me a spread above 10 pips... (120 points)... quiet an exotic pair...
  • #7,954
  • Sep 6, 2021 1:22pm Sep 6, 2021 1:22pm
Quoting tameurnia
Hi guys I noticed a problem with the platform Hit the stoop. two points before touching it And hit the target after skipping it by two points. Is this legal? On 06/09 gbp nzd did you exceed the price 1.94139؟ in your platform {image}
As you were selling you need to take the spread into account. My FTMO account has the spread at the moment at just over 5 pips. The price reached 1.94165 at the bid price so the ask would definitely have been enough to take out your stop.
  • #7,955
  • Sep 6, 2021 1:23pm Sep 6, 2021 1:23pm
US bank holiday..

Complaining about spreads.

Yeh, prop trading isnt for you if you are complaining about spreads on a US bank holiday.
  • #7,956
  • Sep 6, 2021 2:34pm Sep 6, 2021 2:34pm
Quoting Takisd
US bank holiday.. Complaining about spreads. Yeh, prop trading isnt for you if you are complaining about spreads on a US bank holiday.
But the spread is reserved at the time of opening the position
And not changing the place of the stop or the target by the broker
  • #7,957
  • Sep 6, 2021 2:37pm Sep 6, 2021 2:37pm
Quoting lynnc
{quote}As you were selling you need to take the spread into account. My FTMO account has the spread at the moment at just over 5 pips. The price reached 1.94165 at the bid price so the ask would definitely have been enough to take out your stop.
But the spread is reserved at the time of opening the position
And not changing the place of the stop or the target by the broker
  • #7,958
  • Sep 6, 2021 3:00pm Sep 6, 2021 3:00pm
Quoting tameurnia
{quote} But the spread is reserved at the time of opening the position And not changing the place of the stop or the target by the broker
What do you mean by spread is reserved when you open the position? The spread may not be the same when the position is closed as when it was opened.
  • #7,959
  • Sep 6, 2021 3:51pm Sep 6, 2021 3:51pm
Quoting pipmaster77
{quote} What do you mean by spread is reserved when you open the position? The spread may not be the same when the position is closed as when it was opened.

He means that spread should be fixed after you open an order, which again, is not true because you have to pay in and out spread.
  • #7,960
  • Sep 6, 2021 4:09pm Sep 6, 2021 4:09pm
Quoting tameurnia
{quote} But the spread is reserved at the time of opening the position And not changing the place of the stop or the target by the broker
Every broker works in the same way unless they have fixed spreads which most do not. When you put in a buy position you are putting it in at the ask price, so it does not then change after you put the position in. But with a sell you are taking it out at the ask price which can vary according to time of day or liquidity etc.
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