Funded Account Trading

Trading funded FX accounts (paying a fee to take a challenge)

This has become a popular choice for a lot of would-be traders who don't have the funds to trade a large account of their own.
I am about to take a $200,000 FTMO challenge... not for the 1st time I might add.

I have failed 4 FTMO challenges in the past ranging in size from $50k to $200k.
I passed on 2 challenges but failed the verifications on them.

After trying to work out why it is so difficult (putting aside the psychology side of trading) I have come to realize that I am NOT trading a $200,000 account because I'm only allowed to lose up to $20,000 of it... so my real account size is $20,000, not $200,000.

So to increase the $200,000 account by 10% in order to pass, I must double my usable amount of $20,000... in just 21 trading days (1 month)... I must make 100% in 1 month or less.

My trusty spreadsheet tells me I must average a compounded 3.6% gain per day for 21 days to double my usable account of $20,000... to $40,032.
This takes a $200,000 FTMO account to $220,032 which gives me a pass to go on to the verification phase.

Now I understand why it is so difficult.

Hi

What percentage of the capital may be used? FTMO challenge

...

You can use the entire 200k I guess, but if you get drawdown over 5% at any time in a day (including open trades) or 10% overall, you blow it.

I blew my $200k challenge in verification again dammit.
Now one trade from a new challenge being funded.
Its in verification with less than 1% needed to pass with 50 days left..