Ftmo drawdown rules reddit

Ftmo drawdown rules reddit. Got impatient and basically was just stupid. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, This rule is in place to ensure that an ample audience can freely discuss life in the Netherlands under a widely-spoken common tongue. Other firms rules are 6% target 4% max drawdown. Reply reply and doing fine and haven't read anything outlandish Reply reply underrated254 • Someone told me how the drawdown rule, not sure if they were lying, I -Cons: You have trading rules to follow, depending on the firm: trading close to news events, DD on open positions, instruments, risk, EAs, copy trading. You can achieve an equal amount of profit from just $10,000 account with own money, taking almost 40% floating DD ($4000), instead of <5% realized DD in FTMO. Reply Alarmed_Gene_9696 since most prop firms have rules for algos since they can and do run into huge periods of drawdown. It never changes. As ftmo don't care about how much ir less you trade, you can choose: You can open more trades so that means you can risk 1% or less for each one, but no more than 4. you look for an easy way out you end up paying 1 way or another. I personally dislike the daily drawdown rule. You are confusing drawdown with leverage. Im currently doing the challenge myself. This process can be demanding, but with the right mindset and techniques, you can increase your chances of success. Also no, you don't need $100k but it does make trading easier. When they give you a trailing drawdown that means your drawdown is based on the highest level. You will never have worry about a "MyForexFunds" moment w/ FTMO. It's really not that much different between the two in terms of x amount per trade risk just the amount they put in the account, cheaper entry level and a simple max loss and be flat on Friday is all there is with no splits for them until after your Thought the rules was 5% drawdown everyday based on initial balance, my account only went -700$ around from the initial balance. You know ftmo exists but By using a third-party EA, you potentially run a risk of being denied the FTMO Account if you exceed the maximum capital allocation rule. First time i perform this bad. One month of movement could Does challenge not helping u to stick to the rules? U should know ur drawdown alowance and must stick to it overwise acount will be closed. 5% risk per trade If you can write an EA try running it over past data Also run some montecarlo simulation to find its maximum drawdown, consecutive losses etc, I think FTMO have one you can use for free just sign up for the trial account Welcome to FXGears. The rule basically states that you can’t go below £9,000 Edit: edited my max daily loss answer, as pointed out in a reply by rima999, daily max loss also updated. Please note that platform servers have 200 orders at a time and 2000 max positions per day limitation, just as the limited acceptance of the server messages (orders and order modifications such as updates of Im funded with FTMO, TFT and TopStep aswell as having my own account. For example, if you take your account to $170,000, as long as you do not drawdown more than 4% in any given day, you would only breach if your account equity reaches $100,000. No "gotcha" moments or stupid fine print rules. I'm uhh I have FTMO and MFF live account, but I do think their rules are too hard . It is completely my fault for being so impatient and greedy and over risking. No funky gimmicks. Today's article will be devoted to finding the answers to the several most frequent topics our support colleagues get asked about. I am currently an FTMO Trader. I am a swing trader and I have been trying to limit myself to the 5% draw down rules of MyForexFunds and I find it difficult as I end up closing trades a lot earlier to limit myself to the 5%drawdown limit of unrealized profit. 5% draw down limit on equity makes sense but imposing it on open trades and unrealized profit is too much to handle. Also, I approach my prop firm accounts the way that you describe: Max Drawdown is my Account Balance in my mind. You must pay an upfront fee for the opportunity itself, and after 1-2 successful phases you complete you reach a funded status in which you trade with their money at the account threshold you selected. Now I’m told FTMO resets your max daily loss overnight at midnight their time. You need to study edge and risk management more kid ;) Get the Reddit app Scan this QR code to download the app now. My strategy works over time but without a dumb luck streak it won’t do +10%. but, I practice my strat on Tv but the candles are very different from that of The 2 main rules that I hear traders mess up on the most: *Floating* Maximum drawdown - FTMO not only counts closed positions into the drawdown rule but also open positions. 7m of funding available just with what I consider to be the top 4 firms (MFF, FTMO, 5ers, TFT). in reality people will say ftmo is superior, i think u dont have to leave ftmo and can have both of them at once. My rule of thumb is that I should be fine after losing 10 in a row, so if I was with a 5%er I'd risk half of this amount and the drawdown would be 1. Best year was 2019 but I was trading forex and putting in 30min-hr a day researching what other countries are doing and economic calendars to gauge the overall trend. It incorporates the most common prop trading rules, giving you an edge in the competitive world of prop trading. Now you have your max losing streak, which must fit within your max loss limit set by ftmo. Prop Firms the lot size and made a short entry only to see the manipulation to higher and therefore had to close the trade due to drawdown rules. The master account has a total drawdown locked to the initial starting balance. E8 Funding is dynamic. It's been around longer, doesn't have the same controversy around slippage, doesn't have a bizarre equity drawdown rule and it has more tradeable instruments. Trading platforms FTMO companies do not act as a broker and do not accept any deposits. My strategy has a maximum backtested drawdown of - 14R so I decided to use 0. A lot better than the harsher rules prop firms like FTMO impose on their traders in my opinion. You need to practice their rules before you can evaluate is this something that suits you. FTMO is awesome. FTMO Accounts can be increased to a maximum initial balance of $2,000,000! Please refer to the detailed summary table below for a comprehensive breakdown of our scaling plan requirements. Question about ftmo challenge rules. If something still seems unclear even after reading the article, feel free to explore the Guys you have unlimited free tries while during the challenge to pass it if you don’t break the rules but don’t achieve the profit target 10%. e. So far so good, but I got there in 8 trading days instead of the Hi. Better luck next time, customer service wont give any free trial lol 😢 Some have ridiculous rules that make you more likely to fail but you just do research to find a good one. com, a trading forum run by professional traders. Lowering your risk may help your The only Trading Objectives we require you to respect are the drawdown rules (Maximum Daily Loss and Maximum Loss), which are the most important rules we care about as As I'm wrapping up with my FTMO challenge, one thing I would like to know but cannot find any information on is once you become an FTMO trader, what happens at your monthly For FTMO, the two trials involve more luck that normal trading due to the time constraint. And our new FTMO Traders have had a [] To answer your question, I’ve certainly come close to hitting the 5% daily drawdown (-4. You only need to pass 8% in the first round and Because if you get a funded account, 50k, and traded it up to 100k, that means you have made 50k, but if the 10-12% overall drawdown applies, then when you lose 12% and Rules. I've looked at the equity curve of ppl who have passed and their drawdown is very small and the curve is pretty steady. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. They punish the traders who keep the trades breathe FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. In your case the simple answer is to halve your risk. **Understand the Rules Thoroughly 📜** Before you start, make sure you understand all the rules and guidelines. they reloy on both but the profit trader according to their rules are as kess as 1% not 10%. While ordering an FTMO Challenge you can choose Swing as your account type while configuring your order. Profit target of 10%. it IS designed to make money from people registering and fail in my opinion. There is no FTMO Daily Drawdown & other things to look out for. If <10% of people complete the FTMO challenge, my guess is over half of those challange winners will break their drawdown rule due to not leaving enough drawdown cushion from previous profits, or just bad trading because they got somewhat lucky with the challenge results and time will reveal the true profitability. Which is allright by my rules. Learning this alse helped passing challenges and Most of the cryptocurrencies on the FTMO-Server have a contract size of 1, which means that each contract is worth $1 of the selected instrument (XRPUSD and ADAUSD have a contract size of 100, DOTUSD has a contract size of 10, and DOGEUSD has a contract size of 1,000). The other main issue i can think of would be the max daily drawdown; opening massive uncalculated positions would mean that even if your trade closed in profit, the slightest drawdown would break the rule. com's Reddit Forex Trading 2% risk was optimal for your personal $100k account, does that mean for a $100k funded account with an imposed 10% maximum drawdown rule, the optimal would be 0. Doesnt matter if you take a profit of View community ranking In the Top 1% of largest communities on Reddit. I've made a profit of 2. Or check it out in the app stores I’m currently in nearly 9% drawdown on ftmo account. Lost my FTMO Account just now because of stupid mistakes I made. People try to be consistent with ftmo. The profit target is higher, yes but the other rules are good to follow anyway. i like that maximum drawdown is 12 percent on mff and cheaper too. Apex for the discounts and Tradeday since they implemented a trailing drawdown that is calculated ONCE at the end of the day and no drawdown on unrealized profits. MFF account got banned because same IP with other traders . 0. Only with a swing account with a 1:30 leverage. However, after all the euphoria resided I checked my FTMO dashboard to found out that I broke the Daily drawdown limit with only $20🤦. Reply reply More replies The drawdown follows your profits upwards. Ftmo 9% drawdown . com's Reddit Forex Trading Community! This is a nice list, but I found a booboo in it. This works too, but I'd have to risk 0. A 10% absolute drawdown is super easy to mantain. It's an outlier. Guaranteed Success Criteria: To qualify for the Pow guarantee, traders must complete a comprehensive psychology program, watch 80% of the weekly Zoom calls, maintain an 80% completion rate of their daily trade journal, and check in For futures, Apex and Tradeday. Reply reply Welcome to FXGears. Talented FTMO Traders who meet our Scaling Plan requirements are rewarded with a 25% increase in their FTMO Account balance and a bigger reward of 90%. The I would say patience and discipline. Many traders will always complain about the strict FTMO Challenge requirements. I use 50k ftmo account. 5k from the top of your open balance. Currently undergoing the FTMO 10k Challenge phase 1 and safe to say I'm still in it. If you're not careful , you might lose the account because you broke a rule you forgot about. If profit goes up by the drawdown then back down by the drawdown, you've failed by sizing way too big and not taking profits prior to the drawdown Question B: Yes, at least on the evaluation account. 2% risk on $10,000, the max amount you can actually lose)? Or in this case, does it make sense to set your risk %, not to 1 in 35 million odds of blowing up (hitting 10% Get the Reddit app Scan this QR code to download the app now. 14 days period with their 5% equity drawdown, 10% max. If a 100k account has a 3k drawdown rule (aka you fail if you hit 97k) then it’s not really a 100k account it’s a 3k account It looks like FTMO has just recently blocked India and a few US states. 5R trade. This is the only way to succeed with prop firms long term, in my opinion. Hello. 9% with all trades open Open 1-2 trades per time. Funded trading plus - 6% drawdown 10% target one phase only no time limit I personally recommend funded trading plus they’re cheaper and they also let you use TradingView. On FTMO you can only lose 10 percent of the account so effectively a 1 percent risk is equivalent to 10 percent on a self funded account with no drawdown rules. Funded Trading Plus has no time limit but a small allowed drawdown and is relatively new as well. If I were to make 10% in 8 trading days, can I drop my position size to . But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. However, with a 100k FTMO account, 10k max drawdown and a 10k profit target, isn’t this technically asking for a 100% gain? So, risking the recommended 1-2% is more like 10-20%. but it is far more easy to get funded because they don’t have any drawdown rules. But once passed you can make decent by just properly trading, managing risk. All the scam prop firms use dynamic drawdowns to try to steal your account. So im doing a Ftmo challenge and im at phase 1 atm, in Two days I managed to rack up a 9,32% drawdown. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, Question about FTMO free re-try . Edit: I read his comment again, he opened 2 trades in his example, 1 trade -510 the other +850 so closing the +850 first then the -510 won't violate the rule. com's Reddit Forex Trading Community! Here you can converse about trading ideas Your daily drawdown got reset and you didnt think Don't feel to bad about it though. No, that usually doesn't happen. Example: In a live account, you are allowed to risk more as there is no set rule for the maximum daily drawdown. I quit my job a year ago and make more money then i ever could have dreamed off. I understand that a prop firm has to manage their own risk in order to create a sustainable company, FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. Even a profitable strategy may not work bc of the drawdown amount. Rules. Would this be considered good risk management in 10k account? Makes it impossible to violate drawdown rules but of course you need a high profit factor to make up for small gains Isn't ftmo max daily loss (drawdown to be precise) is 5%? How long can you get 10% The Funded Trader has really good Draw Down Rules. The $400 discrepancy you’re explaining The following blog will explain the different FTMO rules related to drawdown and how DrawDown limiter is the must-have EA to help you pass the challenge. Because it seems easier. the better. You need to check the margin requirements in the Specification of the This would be a great idea, except you are not taking into account the unrealized drawdown that would breach ftmo's 5% and 10% drawdown rules. The FTMO rules ensure that traders are disciplined in their approach to the program which will enable them to achieve the best If you can make 10% in a month on their account, you can make 100% return per month on $10k. The maximum daily loss resets at midnight daily and does include both open and closed positions. They do this so a person pays less up front, thinking they will be able to be profitable, but then end up blowing a daily drawdown or a max drawdown rule because they use the max allowed contracts on that smaller account. We would like to show you a description here but the site won’t allow us. But even when you pass you still have many tight rules/guidelines you have to follow, much more than any traditional firm. 000 USD account and trying to pass challenge step on ftmo, it means, you have daily %5 DD, total %10 DD. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. Let's face it, the only difference is the loss in buying power in heavy dd is there on a $10k account. I’m very curious about this phenomeno, never took an ftmo challenge, would like to hear your thoughts and experiences. Factoring in trailing drawdown, this would still require me to lose about ~15 trades in a row. It should go without saying that your rules are rules for a Let's say, you have a 10. My major beef with their rules is the 5% Maximum Trailing Drawdown rule. while the funded account providers like Apex, Topstep, Earn2Trade, FTMO, etc take 110+% out of your profit by copying your strategy. This rule can also be called “trader’s daily stop-loss”. Are their drawdowns fixed? If not, any other prop firms with fixed drawdowns out Let's take a closer look at the key aspects of FTMO's drawdown rules: The Challenge Phase: Challenge phase is the first step for traders on their journey to a If you prefer to keep your Profit Split on account to grow and accordingly build up your balance and drawdown buffer, you can do so. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. FTMO does not allow news trading with the 1:100 account. The rule As long as you aren’t close to the max loss, you should get another day at least if you are able to get out before the daily drawdown is hit. I wouldn't worry about that as long as there are green checks you are fine. This is how FTMO currently works, where you lose your funded account if you ever lose 10% of your starting balance. The max drawdown rule applies to open positions as well. Customer Service SUPER fast and responsive. I lost accounts on tft and mff because of their stupid drawdown rules (and myself for not taking profit when I should have). If your maximum drawdown per trade is say 1% then that's $100. No "silly discounts". Judging from your post, you don't understand shit. Beeing happy about the possibility to have bigger drawdown is asking for trouble. Apex does offer a static account where they don't trail your drawdown but it's a $100k account with a drawdown limit of only $625. I only trade with ftmo because the other ones are build to make u lose if the market is against you. . just know that dont go for 1-step and read the site FAQ to understand how the 1-step drawdown rule works. I have a set of rules I follow that take 8-12 hours to play out. Welcome to FXGears. The drawdown is tighter than other prop firms but I’m fine with that as a trade off because you can take your time with it you just have to have a good risk management plan. Then made profit and was playing with my profit part and hit drawdown which i was not aware of because i thought i have drawdown till 190k. This would increase the chance of account ruin especially for The risk management of the Prop Firms is hard, especially the drawdown rules. FTMO disqualifies you at 10% floating drawdown. Please note 1% risk per trade with 47% wins is not good, you can easily hit that max 10% drawdown, try 0. So if you are up 30k TODAY you can There are some that have trailing drawdown until a certain point. After having the funded account you don’t have any monthly profit target. Just ask them for a discount on your You are definitely mistaken. Minimum 10 days of trading. No drawdown requirements, just those I listed. Even if i get 5-6% on that account its like 3times my monthly wage so iam gucci. 01 for the remaining trades to meet the criteria for minimum trading days? Thanks for any insight. 5%) 2 phase: make 5 with 10 drawdown (66. I figured that the max Drawdown at this point would be at around $96,444, which would be It's the equity that counts, not the balance. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing They also set the rules and criteria with things like trailing drawdown because they only want certain traders that know how to respect proper risk management and that can still execute trades to profit. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, For anyone trading under FTMO, do you prefer the swing account or normal account? Share Sort by: You will fail the challenge due to drawdown even though you’re in profit Reply reply So FTMO or myforexfund? I dont know which I should choose, Welcome to FXGears. Moreover, Max Loss limits can even limit you for the trading account, therefore, you may want to risk First tried in 2015 and got crushed. Other prop firms give you $10,000 with 10x leverage to fool you into thinking you're getting a $100,000 account. What makes it harder for people who don't trade that way is the drawdown requirements too. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! FTMO Drawdown Defeated Prop Firms Started out rough but stuck to my strategy & bounced back Locked post. At FTMO, we encourage all traders to avoid these unfortunate situations due to the fact that negative weekend gaps statistically occur more often than the other more-pleasant scenario. Soooo many traders have made this mistake. If you fail at a good one then you would likely fail at your own account as well and might be one of those writing off trading itself as a scam. Always payout, every time. No issues. So here I am, a fresh FTMO account Your starting account of $100k now sits at $400k as you've chosen to keep most of your profits in the account. Ftmo 9% drawdown Questions Welcome to FXGears. Only high win rate scalping can do that. 5-1:4. On and off since. The rules are very against swing trader. 5-1% Looks good to me. For example, if the account is 10k and the drawdown is until 9,900, then they trail the drawdown until you have enough profit to cover the drawdown. I got slipped 4. Funding talent, they basically offer everything as ftmo but instead of making 10% and 5% for challenge and verification, you only need to make 8 and 4 while the max and daily drawdown remains the same. There is no profit due for your Profit Split. Mind you the max that I have lost is 1% per trade. MFF with the extension makes it possible for swing traders, but their equity drawdown is a concern if you don't take partials. The Max Loss is not a current threat since you're sitting well clear FTMO is practically the most popular now, but I don't know if they use trailing drawdowns and it doesn't really say in their website. A 100% month would be possible on a personal account risking big but on the FTMO account like i said with the drawdown rules it’s near impossible to achieve those gains consistently month after month. That is, do not create an opportunity in the market where there is none (Forcing a trade) and getting rid of greed and fear. I’ve been trading for long enough to know it isnt sustainable. FTMO companies do not act as a broker and do not accept any deposits. It only goes up until it’s locked at starting balance of the account. Free repeats and 14-day extensions are also no longer needed because traders trying an FTMO Challenge and a Verification don't have to watch whether they can make 10% in 30 days or 5% in 60 days. With appropriate risk management the drawdown rules shouldn’t be an obstacle. I'm pretty sure half their email responses are boiler plate too. So you can be fully funded at a max of 400k while still having an infinite amount of inactive accounts to use as backs up's if this bad situation were to occur. 3 pips on USDJPY, no rollover no news, London session. But chances are you / majority wont be and that is their business plan. So from my understanding that means every 6pm est your max loss resets. On the other hand, accounts from modern prop firms have maximum daily loss limits that force you to set Stop Losses accordingly. Sigh. Despite which of those options you pick FTMO will take 30% of The drawdown will be tracked much more accurately on your eval and paid account. But if you can prove otherwise go ahead. i think ftmo has better spreads, i like mff due to being bias as my first prop firm. I feel like a huge huge failure. I have been researching online prop firms for 3 months and trying to develop a strategy that would meet their constraints (based on FTMO normal account), namely: Max Daily Drawdown (MDD) of less than 5%; account max drawdown of less than 10%; profit target of 10% with 30 trading days (one calendar month + extension of two calendar weeks). If you don’t care for FTMO specifically and since your risk management isn’t aggressive, your best bet may be too look at City Traders Imperium or The5%ers as both of these prop firms allow maintaining your positions over the weekend, with the trade-off being more stringent risk management rules as well as a higher number of trades for the Also, from a math standpoint it's a pretty reasonable drawdown (which is basically what you are buying, but you are getting much more margin). Additionally, if your drawdown is locked at 5% and you have 5% Yeah I recommend finding two different prop firm with the same profit percent and with the same max drawdown one phase obviously (find two firms that only provide a Max drawdown no daily draw down) after one of the accounts pass try finding a good stock options alert service that mainly does QQQ(NQ) or SPY(Sdr). I'm gonna do this to get around their no-weekend holds + no news trading rule. Rules that you should have yourself if you want to be a sustainable and consistent trader. 1 rule, do not loose (too much). The new aggressive one has a smaller time to do the challenge (2 months instead of the regular 6) and with a bigger target but same drawdown rules. Your first goal for the day is developing good trade ideas, a close second is managing risk. it's different for 1 FTMO Review here on Reddit. Example: Max drawdown is 10%, you start a 100K account so you can only lose 10K total or you fail. 60-4. Drawdown rule is a bitch as it's takes floating p/l into account. Step 1 - FTMO Challenge; Step 2 - Verification; Step 3 - FTMO Account; If FTMO Trader doesn’t make a change to their Profit Split Day before the end of a one-month cycle, If you prefer to keep your Profit Split on account to grow and accordingly build up your balance and drawdown buffer, you can do so. TFT has the 400k challenge from 1 buy, MFF is the cheapest, Ment Funding has its own rules with up to 2 million in direct challenge funding and only 1 phase to pass the challenge, max Welcome to FXGears. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. If i pass i then try to get agressive and get as much money as i can and then usually crash the acc. Anyhow that would mean my max daily loss would be roughly 11k until Monday at 6pm. Prop Firms So I heard you get a free re-try if you fail the challenge but still end in profit without breaking the drawdown rules. The static drawdown is only for futures evaluation it's trailing based on highest balance once you have passed not to mention you only get paid once you hit the profit target at each level and a new account is given for the next level all the way to level 10. Hey everyone, I've recently got into ftmo, and on my first try, I passed the stage 1 of ftmo, onto stage 2,its a different story, I've been quite unlucky, ad after a series of trades I'm now down 9. Never had any issue with them. However, In this stage, the major rule is for the trader to meet the profit target which has been set in such a way that it is balanced with the drawdown that the company allows. Smart Prop Trader allows more time than mff and has a slightly smaller target, but is relatively new. As a general rule, i risk 1% for each trade on my ftmo account, but i only do it when i have a significant buffer on my account (at least 5%). You don't keep your full profit. While you are absolutely correct about the difficulties of a relative drawdown, their site is very confusing about the drawdown for the master account. Hi all, maybe I will try with FTMO, dose they have rules like MFF? but with 300$, if I pass Evaluation MFF give me 50k$ to trade with max drawdown are 5k$ The other biggest rule that helped me which should've been obvious was "don't trade against the trend". 100k account ftmo funded, 4% risk, taking profit at 0. 1-0. I belong to a group of probably of the best traders in my country (a small asian country) , and most dont have prop firm account yet They make millions. All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. And even challenge is not so gambling because 1 phase: make 8 with 10 drawdown (55. We call these rules Trading Objectives. You can also convert your account type later on after starting your FTMO Challenge. When a trader has a tested strategy with a long-term RRR of 3:1, such an approach should be Yeah, I can only speak for MFF although I assume the same is true for other firms the drawdown rules still apply. Currently attempting my first ftmo challenge on the 10k account. Thats how FTMO works. Reply reply How is the daily drawdown calculated? I only have experience with ftmo, the funded trader and my forex funds. Today’s article will be devoted to finding the answers to the several most frequent topics our support colleagues get asked about. And repeat those steps again. The least number of days required for traders to successfully pass the FTMO trading challenge is 10 trading days while the maximum is 30 days. One week goes by and you've lost 8K and have made $0 profit. On the other hand, those who have already completed the FTMO Challenge appreciate that the loss limits have taught them to stick to a trading plan and a strategy, which has led to more consistent results. some time having big red number View community ranking In the Top 1% of largest communities on Reddit. Edit: autocorrect is a menace. if you buy 10 evals, get 5 to funded and only 1 to payoutthats 4 thousand in profit for a 1 thousand expense. But at the end it is good. com's Reddit Forex Trading Community! Here you can converse about trading He’s shown proof he is very transparent so it’s legit but the rules itself are a little different then that of say FTMO the main thing is the DD is like 5% I think so risk less and they don’t have the The drawdown rules based on While it is exciting to see the amount of FTMO passing going on, If you are trading 100000, as soon as you go under 90000 you are out so account size is 10000. Profit target of 5%. Is it possible to still fail the verification stage if you don't violate any of the trading objectives? The rules are very against swing trader. We need to be sure that you can trade your system or strategy profitably in the long run while respecting the rules. That doesn't mean passing the eval isn't more cumbersome than other prop firms. challenge soon, drawdown statistics only count when you close each trade. 83% risk per trade. I don't know if that makes sense. Your “max loss” will be £1,200 (1,500 - 20% FTMO profit split) instead of £1,000. No. you can't overtrade ir take high risk like you trade your own money. So even when you drawdown in equity you breached the rule. 2 on FTMO. 3k max running drawdown is totally in line with my strategy For me personally, I also trust FTMO and MFF wayyy more than I trust any regular offshore ECN broker so that security is another huge benefit. Quite meet my set ups because In the back of my head I thought I only need 5% it’s not much even if I go in drawdown. There would have been very little chance of a margin call on the $5000, if you have some reasonable idea on risk management. Their challenges are a bit tougher than My Forex Funds where I'm currently funded. But once you have the funded account, there's no reason to take any risk that will blow The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. And even so a good trader can break a drawdown rule very easily if he/she has a series of losing trades with good risk mgmt. And you must hit 10 percent profit. 5k and a profit target of 3k, you can never lose 2. FTMO has carefully calculated and set up targets which are unrealistic, high chance for even a good trader to fail, to make 10% in 20 trading days (1 month) you are forced to open larger lot sizes to meet the target but when you do if market goes the other way only a little bit you end up failing the challenge because of the 5% daily drawdown rule, odds are Most of the people who pass the challenge do so through sheer luck. If I have a 100k funded account, and take a trade with a draw down of 4%, close the trade, then after (same day) take a I'll put it in the way I look at FTMO. Can I trade news? Do I have to close my positions overnight? Which instruments can I trade and How do you get around the difference of charts of ftmo and tradingview. So I've been trying to pass my ftmo challenge for two months without succeding, and I came across an ad of a service that passes your challenge and manages your account. For ftmo you can't hold trades over the weekend and during certain news events once you're funded but for funding talent you are allowed to do Not based on balanced but original account size. FTMO will look at their net exposure and adjust it at the portfolio level if it’s too risky. One of the reasons why FTMO has gotten so popular is because of their drawdown policy. I guess the main questions are- is that the best way to do this, should I just hire a CPA (suggestions?), and are any of you trading for FTMO/how are you paying your taxes (if you are US based)? Yea I’ve tried almost all of them and E2T has the fairest rules in my opinion. You won't hit a dd that bad if you are already a successful ftmo trader. I wish 0. com's Reddit Forex Trading Community! Here you can converse about Like for me personally, I like FTMO but they have the dumbest rules. Passing the challenge is easy with a bit of luck but 99% of those who pass the challenge can’t manage to keep the account for more than a month since they would break the rules because they simply don’t know how to trade. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, Higher drawdown @ 12% lower targets @ 8% and 5 % The discord community is quite Active, The FTMO funded trading program has specific rules that guide the traders in their conduct as well as describe the expectations and the targets that need to be met for traders to complete each stage of the program. and that's it. This led to me breaking the 10% drawdown rule. If we consider a live execution model, then the chances of negative slippage over positive slippage are 3:1 as positive slippage is less likely to take place I don't understand how that wouldn't be a substantial gain if I my reward is potentially even larger. I mean they say spreads are low, etc so there should be no problem. Why will you even take the challenge if you're still experimenting. Step 1: The FTMO Challenge A 30 calendar day demo account where you will have to trade according to our rules. The downside is you have to pay the 100 dollar fee for CME data once you pass their eval and they give you a live account. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. Otherwise it's pretty standard 5% daily drawdown and 10% max drawdown from initial balance. I read the rules and I think that my post is valid but if it's not do not hesitate to take it down. Step 1 - FTMO Challenge. The drawdown adjusts to your highest equity and doesnt adjust down if you are in drawdown. I read through the terms and conditions, but it's not very clear. So if you longed ES 4100 2lots then it went to 4150, but you cut at 4145 that means you're actually down 5 points on the drawdown. Clearly this rule are set up by themselves purposely to minimize higher lost. While taking FTMO challenges unknowingly you are paying a lot of monthly subscription fees, you may lose the challenge, re-take the challenge, get a funded account , break any of their trading rules, you will start from scratch and the cycle will keep repeating. It took only a 1. the rest, is like a dummy who happy , got certificate yay. Just wondering how any funded traders on here deal with the news rule on FTMO, that a trade cannot be left or entered within 2 min either side of the news release? Traders in general, do you avoid major news releases to avoid slippage also? Reason I ask is because I have a strategy that does have high returns over 2 years backtested. When looking for an evaluation to go through, make sure it’s one that doesn’t have a trailing drawdown based on unrealized profit. I dislike the drawdown rules but I understand they are there to kind of protect the trader and to get them thinking about risk management. I either pass ftmo or fail. and so should you. I am confident I will pass the challenge stage but I am a bit in the dark on the verification stage. Ftmo are like a group of robots and strict to their rules. Ive had a load of questions over the past few weeks from people asking me advice and general pointers on what to do after posting my FTMO challenge results. Step 3 - FTMO Account. 5% I won't be allowed to be in an They are a proprietary trading entity that provides capital to traders who pass a strict set of requirements and drawdown criteria. It doesn't make sense for my strategy right now but with a short term EA that has an expected profit ratio of 2 or more it looks like a sweet deal. Reply reply Crypto2Forex2022 You then trade with that funded account and every month if you close in the green then you have the option to either withdraw the money or to keep it in your account to give you a larger drawdown buffer. As others have said, you still have the verification stage to pass, but still, not too bad of an idea if you have cash to blow. You have twice as long. If something still seems unclear even after reading the article, feel free to explore the But we must not go too crazy, in general, the rule of thumb is that the risk per trade should not be over 5%, an exception to this could be if we are taking a long term investment. I have not violated any of the rules and have gained 5% over 4 days. The 4% rule is OK to work out what if scenarios, but you are more likely to end up with too much money than run out. Given my -1. According to our rules, this is set as 5% (10% in case of an Aggressive version) from the initial account balance. if you profitable and smart enough to simply adjust your lot size in proportion to your chosen prop firms drawdown rules. Can I switch my FTMO Account to FTMO Account Swing? Yes, you can. com's Reddit Forex Trading Community! bro it is just a auto statistic free from FTMO, it means nothing, they only care about the rules and target. Both are relatively new but have a reputable liquidity provider (Eightcap), absolute drawdown rules, and generous time limits. it goes nicely into profit for a few days, then price just comes straight back up and hits your sl at breakeven. Are there other firms offering similar Draw Down Rules? Looks comparable with FTMO except for that evaluation fee, which is just awful. It helped me improving my private trading a lot. . If you manage to pass all requirements, you will proceed to the second and final step of the evaluation. This way, my drawdown is very low and I can risk my full 2% per trade without hitting drawdown limits. I’ve been trading with ftmo for a while now ftmo challanges really gives you risk management dicipline. Before that, my strategy used a money management system that gave me a 26% win rate with 1:3. The max daily loss Just try it yourself. You will have superior account conditions in the form of our own FTMO account solution with very low commissions and raw spreads. If your drawdown is 5% on a 1k account then your stop out is at 9950 right? If you make 4% in profit then your drawdown now gets to 9990 and never gets back down. For example Ftmo have a max daily drawdown of 5%, if im +6% monday and tuesday I get stopped at breakeven (-6%), I Broke the rule of max daily drawdown even tho the account have lost 0$. If your drawdown is 5% and your account is $100,000 and you make $5k then lose $2k, you are now only 3% away from your drawdown even though you With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, Ftmo rule breach Prop Firms I lost one because of 35 cents drawdown. 5% risk. View community ranking In the Top 1% of largest communities on Reddit. don't see the 10% you can lose as 100% see it as trading a strategy that doesn't have a drawdown below -10% so that you wouldn't reach the 10% drawdown, then you can continue trading 1% out of 100,000. However, I never strayed from my original gameplan other than cutting my system off for the rest of that particular day. Also, FTMO is managing their entire portfolio risk, so in your hypothetical example, there are likely a lot of traders with those positions (not just two) and all those positions offset each other to varying degrees. 2% risk (i. 9 pips away, also had the same trade on FTMO that did not get stopped and went on to take profit. The offered technical solution for the FTMO platforms and data feed is powered by Hey guys, Currently I'm doing the FTMO challenge and I got to the profit target. However, please note that the 20% split FTMO helped me to make that last step with strict drawdown limits. Because you only need 5% to pass don’t let that fool you. How to profit, how to calculate your risk (for daytrading)? Check your statistic and see how big was your biggest drawdown. The combination of bigger drawdown and lower profit target might lure in people who are not ready yet to trade live. You may not have to observe a drawdown rule as with a prop firm, but if you do have a solid trading plan, then that'll include an actively updated number of what your "Risk of Ruin" is, which you can consider your personal drawdown rule. How does your risk management plan look like? 0. FTMO only provides services of simulated trading and educational tools for traders. The Trading Pit's Max Trailing Drawdown (Trailing on Highest Equity) The Trading Pit prop firm has a lot of potential, but the drawdown rules they currently handle are absolutely ridiculous. So guys, be aware. I'm aware that Apex's drawdown rules go away once you pass the eval, get a funded account, and get above the drawdown limit. I over traded and just went in complete denial over the fact that I had just lost a substantial amount. Funded accounts are traps for those who don't understand the rules of each program. r/Forex • Ftmo 9% drawdown. Bro these rules are basic. Don't worry. Whether it is a 10,000 or 100,000 account 10% drawdown is the same. Relative Drawdown is more complicated, and more beneficial for the firm. 6% max drawdown. I'd try UltraCap Trading or Ment Funding. I’ve been with FTMO for over a year with 11 payouts, but I had to move to a scalping strategy to do it. I wanted to share some tips and strategies that have helped me in passing the FTMO Challenge. I think FTMO doesn’t do this equity drawdown rule, but was looking for alternatives If you have a 100k prop with a 10% max drawdown really you have a 10k account because once you lost 10k the account is gone. Step 2 - Verification. Share Sort by: Best. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. 555*0. The drawdown will be tracked much more accurately on your eval and paid account. FTMO free Retake? pleass answer somone . 6% and I've almost failed the challenge, I'm not sure how to get out of this but I might need some advice, do I carry on with my strategy and hopefully get 2 wins in a It’s part of their trick because the smaller the account size, the tighter the rules are for max and trailing drawdowns. on a 3k account with NT you could only trade a max of 6 ES lots and they would auto liquidate you if you lost margin req which would be basically instantly. The next step is verification and it could take a while but I will update upon the results of it. 666 = 37% natural probability if you are a monkey. i was very acquisitive about daytrading and putting revenge trading with overleveraged positions and its going much deeper drawdows. Multiply that number with at least 1,3 as you're a human being, probably a beginner trader and you will make mistakes. its the most common misinterpretation off all FTMO rules. If you closed the first trade in profit, and then the second trade went 100 into drawdown then your FTMO will allow you to have an unlimited amount of standby/inactive accounts for this very reason. It’s part of their trick because the smaller the account size, the tighter the rules are for max and trailing drawdowns. You'd go with topstep since your able to risk far more per trade vs FTMO etc before breaking max loss rules. You need to read carefully rules and TOS and see how you manage them on live market. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! 50K FTMO Challenge . Anyway, I’m in according to you, infact i planned my risk for the FTMO verification in a way that I have to reach 13 stops in a row to blow the account. The FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. Also ftmo is currently not servicing US clients. You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. Before you take profits that trades few of them maybe dropped to negative before the wins. The rules are closely aligned with the paid version of the FTMO Challenge, although the minimum trading days and required Profit Target are halved for the trial period. Reply reply FTMO drawdown is based on initial account balance. What is the FTMO is legit and has been around for a while. You can do that on FTMO demo acc. com's Reddit Forex Trading Community! I've been trading for 3 years now and I'm getting ready to do the ftmo funded. - To be with other like Hey everyone, Edit: this is my first 9 days with real money after passing the FTMO challenge / verification steps. This is what you want. If you would like to combine your individual FTMO Account into a single master FTMO Account, we can do so upon request. 9 pip spread on Tokyo session is unacceptable, I get 0. Similar trade on FTMO did not slip, another trade I got stopped out when the price was 0. FTMO gives you $100,000 to trade, that has nothing to do with drawdown. Exam 2 rules - Same drawdowns and minimum days of trading. 10% a month on funded accounts could be huge, there’s $1. 4% per trade to stay under most firms' drawdown limits. 6k in a 100k account single phase account with a Max Drawdown of 6%, and I went ahead and withdrawn the profits. 75%), but have managed to pass a challenge phase within a few days. however i dont do funded accounts anymore due to the drawdown rule on your equity; lets say you have a 50K account and you place a sell as a swing trade. I made the mistake of rushing things and jumping in trades that didn’t. Whant to choose a prop firm Mff or tft. You are even in a profit. The combined FTMO Accounts need to be at least at their initial account balance to be merged and meet the following conditions: The FTMO Account is not in drawdown. Now more firms are offering unlimited time programs. I have seen some of the videos of those who passed it, and it's a disgrace. The only good thing about it is you can get 1:30 leverage on the aggressive program compared to View community ranking In the Top 1% of largest communities on Reddit. One of the essential rules recommendable especially to newbies is to keep the Stop Loss and Take Profit levels fixed. Also rules can change with time. 10% max drawdown and 10% profit target. New comments cannot be posted. I keep losing to the relative drawdown rule. Using a discount code and 150k evals for example. You get a score based on I got slipped 4. This information is not shared however, but the rules themselves are pretty easy to survive if you're good at managing risk. If your max daily drawdown is $500 and you have an open position that is $1000 in profit, then if must close the trade before that profitable position runs back to only a $500 profit or If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Hey guys I didn't break any rules in FTMO so the first day I lost 450, and today -470 on a 10k account I'm currently 9/030 will I get a free retake after the end of the challange? Are you below the initial amount or in drawdown If you took both trades at the same time and they both had a floating loss of 100 at the same time your total daily loss would show 200. The Funded Trader, My Forex Funds, & Ment Funding. The rest are relative drawdown. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. New US SEC rules effective January 2nd, 2024, and its influence on the stock market. They've been around the longest, have the most experience, and it shows. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! Would really depend on the rules of drawdown and lot size that is allowed and the strategy of the person using. It was risk of drawdown, so probability of reaching X amount of DD in any part of my equity Line. after i take ftmo trials If I was with one of those I'd risk less for sure. Essentially, you need to keep 5% profit in your live account so your account doesnt close down. Or check it out in the app stores The strict drawdown rules are the downside. I’d also note the drawdown on MFF is on View community ranking In the Top 1% of largest communities on Reddit. No strategy I have can make 10% in a month without the breathing room. 6%) So the probability to pass a challenge is 0. I am getting ready for the challange myselfrisk managament for the rules is simple and you can risk more that 1% per trade. Being flexible, especially in the early years of retirement is key. but imo for me the pros outweighs the negatives. The rules are really against you so I find that the less time you can spend in eval mode or with drawdown in funded mode. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. 5% in this case I’m undecided on MFF and FTMO so please let me know how you get on if you go with them, I’m gonna do another month of my personal account to get drawdown in the parameters. 60 days allocated to pass. What most FTMO traders don't realize that non realized losses also count as ''actual loss'' in the FTMO dashboard. Exam 1 rules - max drawdown of 10%, max daily drawdown of 5%. I trade on a funded account (5k trailing drawdown) with 2 ES contracts. I am talking about the Futures challenge because I only trade futures. They are not the same thing. (im not really articulating this well. At least those were the rules when I did it but they might have changed since then. The 2 major drawdown periods are plain and simply my fault. Don't try to succedd in this scenario: I will make 2000 usd today, 3000 another day, maybe I will have drawdowns but eventually hit the profit target. If you are as well, you have your FTMO app that shows your daily allowed drawdown. I started challenge recently and find that its forsing me to close postion or put stop loss just before it would hit drawdown rule, as if i was trading my own acc i would let some trades to develop still (not saying that would be For me personally, I also trust FTMO and MFF wayyy more than I trust any regular offshore ECN broker so that security is another huge benefit. You might have very well recovered from a 15% floating drawdown 3 or 4 times out of 10 situations and even a 50% drawdown one time and returned back to 100% equity. Went against my trade setup telling me to short and I took a long instead. Max 2 losing trades a day, max 4 losing trades first week, 3 second week. Another point to note is that trading with own money is always better and profitable in long term. It's really easy to break this rule. Now I want to start again but with a prop firm, I know how these types of companies work and I’m beware of the drawdown rules etc. If you are a real profitable trader you shouldn’t have any problem following FTMO rules. Essentially, if you have a trailing drawdown of 2. They punish the traders who keep the trades breathe FTMO isn't all sunshine and rainbows, but they have the risk rules in place to protect you (and to protect their money). 30 days allocated to pass exam. gyyt geqb jlmt arggjz winjuvgq wbvyy pcgztxv oswaw xdgz qihcr