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FTMO - For serious traders

  • #8,081
  • Nov 5, 2021 7:11am Nov 5, 2021 7:11am
Quoting snowdonred
{quote} It doesn't say you can't do that that which I conceded in my post if you go back and read again. However although it does not state this specifically, common sense/common decency should make it pretty clear trading like this is not in the spirit of the challenges and in doing so you risk being excluded by any of the failsafe 'default' clauses FTMO (or any prop firm) has in their T&C which entitle them to say "thanks but no thanks" to any prospective customer for any reason.
Then they need to state that. Have a max lot size rule, have a consistency rule. If it is not allowed, it MUST be published somewhere. I have no idea if he enganged in some other type of "illegal" practice, but simply trading larger sizes or passing with one or two trades is not a violation of itself. Make 10% without losing 10% overall or lose 5% in a single day and place one trade of any size for 10 days is all that is required to pass. He did that, once again, assuming no type of sketchy trading.
  • #8,082
  • Nov 5, 2021 7:14am Nov 5, 2021 7:14am
Quoting JotaP
And congratulations for the Paintball Match. {image} Customers love to know everything about FTMO social life.
Well, at least we know they have a staff of more than one, like 95% of the prop firms popping up these days.
  • #8,083
  • Nov 5, 2021 8:35am Nov 5, 2021 8:35am
Vitore What I see is that you trade wonderfully, you have 3 things, you are excellent in forex or you are a Kamikaze or you use Harakiri.
Attached Image (click to enlarge)
Click to Enlarge Name: Camicasi FTMO.png Size: 59 KB
Be happy, friendly, humble and winner!!
  • #8,084
  • Nov 5, 2021 8:46am Nov 5, 2021 8:46am
Quoting pipmaster77
{quote} Well, at least we know they have a staff of more than one, like 95% of the prop firms popping up these days.
yes they do have staff. That's why I put them (and still have) as #1 on my list. Let's see if they still deserve it when this fiddle-faddle is over
Money is made by sitting, not trading
  • #8,085
  • Nov 5, 2021 9:02am Nov 5, 2021 9:02am
Quoting Ak386
Vitore What I see is that you trade wonderfully, you have 3 things, you are excellent in forex or you are a Kamikaze or you use Harakiri.{image}
Well that's my way of passing challenges, I prefer calling it sniper shooting over Kamikaze or Harakiri
(sitting ducks shooting is fine as well)
Money is made by sitting, not trading
  • #8,086
  • Edited 10:18am Nov 5, 2021 9:59am | Edited 10:18am
Quoting snowdonred
...However although it does not state this specifically, common sense/common decency should make it pretty clear trading like this is not in the spirit of the challenges and in doing so you risk being excluded by any of the failsafe 'default' clauses FTMO (or any prop firm) has in their T&C which entitle them to say "thanks but no thanks" to any prospective customer for any reason.
One example of successful challenges published by FTMO on their YT channel which they approved and the trader became funded.
Only 2 winning trades in the first day of trading to meet the profit target.

For sure this IS in the spirit of the challenges they approve.

Commentary during the video says:

"...this trader made some huge profits in the beginning of the challenge and then just moved on and cruised on and finished successfully his challenge.

That's not a problem with us, you know, this guy will get FTMO account and we will be happy for him and hopefully he will bring us and himself or herself some nice profits...

...you can see that most of the profits were made on 4.5 lots and rest of the trades were made with just really small amounts which, once again, is not an issue..."


Note: my trades were worth equivalent of the 4.5 fx lots almost precisely but with an account as twice as big...
Attached Image (click to enlarge)
Click to Enlarge Name: FTMO_success_YT.jpg Size: 114 KB
Money is made by sitting, not trading
  • #8,087
  • Nov 5, 2021 10:03am Nov 5, 2021 10:03am
I found this ad at the suggestion of a friend, we need this but here at FTMO
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Click to Enlarge Name: Retry FTMO.png Size: 19 KB
Be happy, friendly, humble and winner!!
  • #8,088
  • Nov 5, 2021 11:02am Nov 5, 2021 11:02am
Quoting pipmaster77
{quote} Well, at least we know they have a staff of more than one, like 95% of the prop firms popping up these days.
Some of the staff deal with Psychoanalysis and Psychotherapy, just in case no other personal can explain the reason we lost.
Follow your guts, if you want to lose your money...
  • #8,089
  • Nov 5, 2021 11:14am Nov 5, 2021 11:14am
Quoting JotaP
{quote} Some of the staff deal with Psychoanalysis and Psychotherapy, just in case no other personal can explain the reason we lost.
Hi compañero. I remember commenting the unfair rules
POSTMASTER
  • #8,090
  • Nov 5, 2021 11:36am Nov 5, 2021 11:36am
Quoting Robinhood1
{quote} Hi compañero. I remember commenting the unfair rules
Hey Robin,

I have missed you.

I am dealing with human rights, customer rights, biased T&C, unfairness, unbalances, stuff like that.

After all Forums are for people defend ideas not to lick the arsenal of the patrons.
Follow your guts, if you want to lose your money...
  • #8,091
  • Nov 5, 2021 12:54pm Nov 5, 2021 12:54pm
To all who still read my posts here - FTMO reached back to me with the following statement:

"Upon checking your case and trades once again, and upon internal discussion with the team, we did not record any malicious intention in your trading and decided to advance your account to the FTMO Account stage, therefore let me first congratulate you for this great achievement."


I appreciate they reviewed my trades as well as the arguments I shared with them during the previous days, and that they changed their position.

That being said I close this topic, thank you all for your comments, views and support, and wish you all a wonderful weekend!

Becoming a proud FTMO trader now...
Money is made by sitting, not trading
  • #8,092
  • Nov 5, 2021 1:05pm Nov 5, 2021 1:05pm
Hello Traders,
welcome to another Friday update, I hope everyone’s doing well.

We got some very important news right from the start: there will be scheduled platform maintenance on Saturday, 6th of November. Trading will be suspended from 8 A.M. to 4 P.M. platform time (GMT+3) on all our platforms (MT4, MT5, cTrader). Therefore, kindly manage your trades accordingly.

And secondly, Daylight Saving Time reverts to standard time in the U.S.
On Sunday, 7th of November at 2 A.M. in the United States (9 A.M. GMT+3), the platform time will shift one hour backward to GMT+2. Therefore, the difference between Central European Time (CET), on which your Maximum Daily Losses are calculated, and the platform time will change back to the usual 1 hour. We recommend you to use the Timezone Converter which is available in the left column of your Account MetriX and to manage your trades accordingly.
The Trading hours which are expressed in the current platform time will be updated on Sunday, 07 November, to GMT+2.

Having now cleared all the important news, I would like to move on towards the several posts and questions that appeared here during the past week. As usual, please find my responses below:


Quoting Nsak3y
{quote}-Hello, again. Happy Friday to everyone over at FTMO. As usual, thank you for taking the time to reply here and for keeping everyone updated on recent news. Please allow me the opportunity to clarify my suggestion regarding scaling. If you structured the scaling plan in such a way that it was optional, for example, once a trader generates 10%/20% profit on their account, they could have the option to elect to keep those profits in the account to serve as draw-down protection in order to be scaled up faster, then you can mitigate the additional...
Hello Nsak3y, thank you for your wishes and for your efforts to come up with new suggestions, as actually a considerable number of our past service/product enhancements were originally rooted in the feedback of our traders.
If I understood your draft correctly, the only thing that would change in the scenario you advise would be the fact that the made profits would add as a buffer to the Max Daily Loss limit. Although I do understand the logic behind the decision, one of the purposes of the Max Daily Loss limit is to prevent traders from overtrading, revenge-trading, or sudden increases in the trade volume (after all, consistency is one of the key positive characteristics you can earn as a trader).
Providing traders with the ability to suddenly lose tens of thousands of dollars in a single day currently does not seem as a sensible & realistic decision as from the investor’s perspective, you certainly want to avoid huge daily equity/balance swings on your live accounts.
But as always, the industry is very dynamic and as I do not possess a crystal ball, I can not fully guarantee that this can never change in the future. Nonetheless, we are indeed grateful for all the suggestions and recommendations, so thank you once again.

Quoting Jackhalid
Thank you FTMO. Got my payout & fees refunded. Its amazing the money came in the next day itself from Czech to Malaysia. Their platform & dashboard is also awesome. Thank you!
Hi Jackhalid, thanks for the feedback, as we’ve recently published in one of our recent monthly stats posts, 9 out of 10 payouts are being processed within the following business day, so I’m glad that it worked well in your case too. I surely wish you many successful Profit Splits ahead.

Quoting Dany.
Vitek, I have a question about earned profit in an account if it hits the maximum loss. The trader passes challenge and verification on a $100,000 account and he makes $10,000 keeping maximum losses below parameters on the first month with the real account but he decides NOT to withdraw. It is my understanding that FTMO will take the 20% of the surplus so the trader is to start the month with $108,000 balance in his account. If at that time the trader has a Daily equity DD more than 5% (or $5,400) he looses the account but what happens with the...
Hi Dany, first off, you’re correct that if you would decide to keep all of your profits on your FTMO Account, then at the end of the 30 Trading Period, we would withdraw the 20% share out of your FTMO Account. The next month would therefore start with the balance of $108,000. If you would unfortunately exceed the Max Daily Loss of $5,000, all of your positions would be automatically closed, which means you would be left with $103,000. As we had already taken our 20% share at this point, you would be able to withdraw everything that would be left on the account, in this case, $3,000.

Quoting Vitore
A brief history of my FTMO journey (to date): Oct 15 Registered for the 200k Challenge, received account and started trading Oct 24 Challenge passed, confirmed by FTMO, account here Verification account assigned by FTMO, started trading Nov 2 Verification passed, confirmed by FTMO, account here Nov 3 Email received in which FTMO rejected my verification trades for an alleged volume arbitration on the DOTUSD symbol 1st email response sent to FTMO - no reaction contacted support via on-line chat - got information they could not help me for they are...
Hello Vitore, we have contacted you regarding the suspicion of exploiting illegitimate trading practices as per clause 5.4. of our T&C’s. As far as I know, the case has not been closed and you should receive a follow-up message from our Trading department (if you have not already) that will discuss your specific case.
Also, I’m not sure to which phone number you’ve been calling for the first time as we’ve received only one incoming call from your phone number, which has been responded to. We have also responded to your email within 48 hours as per the company policy. As most of you probably know, the usual response time is much shorter, these cases however require to be handled by specifically qualified staff, so I do apologize for the unexpected delay.


Alright, that's it for the first November FTMO ForexFactory update. Thank you for your questions & ideas everyone and I look forward to the next week's posts again.
Don't forget to take some time off during the weekend, cheers!
-Vitek
  • #8,093
  • Nov 5, 2021 1:13pm Nov 5, 2021 1:13pm
Quoting Vitore
To all who still read my posts here - FTMO reached back to me with the following statement: "Upon checking your case and trades once again, and upon internal discussion with the team, we did not record any malicious intention in your trading and decided to advance your account to the FTMO Account stage, therefore let me first congratulate you for this great achievement." I appreciate they reviewed my trades as well as the arguments I shared with them during the previous days, and that they changed their position. That being said I close this topic,...
Congrats.
The people won this time.
  • #8,094
  • Nov 5, 2021 1:17pm Nov 5, 2021 1:17pm
Quoting Vitek-ftmo
Hello Vitore, we have contacted you regarding the suspicion of exploiting illegitimate trading practices as per clause 5.4. of our T&C’s. As far as I know, the case has not been closed and you should receive a follow-up message from our Trading department (if you have not already)
Hello Vitek - I have already received the response (as posted above), the issue is solved, thank you!
Money is made by sitting, not trading
  • #8,095
  • Nov 5, 2021 1:19pm Nov 5, 2021 1:19pm
Quoting Koop
{quote} Congrats. The people won this time.
Thanks!
Money is made by sitting, not trading
  • #8,096
  • Nov 5, 2021 1:33pm Nov 5, 2021 1:33pm
Quoting Vitek-ftmo
these cases however require to be handled by specifically qualified staff
-It is really good to hear that everything has been sorted. It further serves as a testament to FTMO's credibility and trust among traders. That being said, I sincerely hope that FTMO will use this experience as a driver to consider corrective efforts to ensure that this does not happen again. As a trader and business owner, I would not want to start my long-term partnership on this kind of bad footing.

Quoting Vitek-ftmo;
Nonetheless, we are indeed grateful for all the suggestions and recommendations, so thank you once again.
-Cheers. No sense in beating a dead horse at this point, so I will leave it be. Thanks, again, for taking time out of your day. Have a great weekend.
  • #8,097
  • Nov 5, 2021 1:39pm Nov 5, 2021 1:39pm
Quoting Vitore
{quote} Thanks!
Congratulations mate.

I know the case is closed and all that, but........

!!!!! I bet it feels good to ram-it up all the doubters!!!!

"case officially closed now"
  • #8,098
  • Nov 5, 2021 2:07pm Nov 5, 2021 2:07pm
Quoting Paulscaff1
{quote} Congratulations mate. I know the case is closed and all that, but........ !!!!! I bet it feels good to ram-it up all the doubters!!!! "case officially closed now"
Lmao fortunately he's not that petty.
You would have gone after each one by one
  • #8,099
  • Edited 2:31pm Nov 5, 2021 2:10pm | Edited 2:31pm
Quoting Vitore
To all who still read my posts here - FTMO reached back to me with the following statement: "Upon checking your case and trades once again, and upon internal discussion with the team, we did not record any malicious intention in your trading and decided to advance your account to the FTMO Account stage, therefore let me first congratulate you for this great achievement." I appreciate they reviewed my trades as well as the arguments I shared with them during the previous days, and that they changed their position. That being said I close this topic,...
You did not give up. I can appreciate this. If you would of given up, you would of never gotten your account back. As we say in Russian,"Molodets". Good Luck to you.
  • #8,100
  • Nov 5, 2021 2:44pm Nov 5, 2021 2:44pm
Quoting driven18
As we say in Russian,"Molodets". Good Luck to you.
Bal’shoye spasiba!
Money is made by sitting, not trading
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