Ftmo challenge rules reddit The challenge is particularly difficult for swing traders. There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. 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 Don’t buy a challenge to follow this topic, if you can’t trade after passing the challenge there’s no point of taking the challenge in the 1st place. But to your point about increasing from $140K to $300K: are you seriously proposing that a reasonable person, acting prudently, would let $160,000 sit in a a non-intrest-bearing-account if there was the slightest chance they may never receive that money? I felt ready, and started my first ever FTMO challenge on Monday gone, ended up making 9% this week and I am around €70 from the profit target of €1000. For example, if you risk 0. Other trades will present themselves in the future so I would rather keep my account safe than gamble on a trade which may close my account due to a rule violation. Essentially, the challenge is free if you succeed. Apr 5, 2023 · To pass the FTMO challenge, take smaller risks and plan on using up a good chunk of the 30 days to reach the target. Entry cost: $495, refunded upon passing. 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. Get 100% Refund when you passThe 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 progr I can pass your ftmo challenge I’m only doing 5 spots . There's an interview with FTMO CEO where he mentions 94%trader fail the challenge. Day 29 I was down 4%. If I were to make 10% in 8 trading days, can I drop my position size to . 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. FTMO really doesn't like it when you risk a lot. Challenge: Two-step program requiring 8% profit in step 1 and 5% profit in step 2, with max loss of 10% and max daily loss of 5%. I failed my FTMO challenge today. Even though it’s called a swing account, FTMO isn’t well suited for swing trading. I don't think you're going to deny that an 85% winrate with a 10:1 average RRR for a profit factor of 61 is unsustainable. And our new FTMO Traders have had a similar experience. 8 - Win rate of 55-60%. I read through the terms and conditions, but it's not very clear. Uhum. I would say go for it but you won't make life changing money because of how strict their rules are. I also read some reviews on TrustPilot and it seems like the Daily drawdown is one of the main reasons why traders fail the FTMO challenge. Understanding and following the FTMO Challenge rules is vital to passing FTMO Challenge. I think so, but not all of them, people say why wouldn't they do it themselves, lest they forget max amount you can have is 400k on ftmo for example, so if he can consistently make profit on his/her own, they can do it on other accounts, and if they manage it after the challenge, take a % of what they make on the account, if they lose the challenge, they may only refund the service fee or Ftmo ticks all boxes, if you check reviews etc they are mainly all good ones, Plenty of people use ftmo not sure on your progress with forex but take the free trials before spending out on a challenge to be begin with and get used to there set objectives and rules 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. If you are extremely disciplined go for it. Plus, when you pass your challenge, you get the money back anyway. I learned to trade with a family member and when I started 4 months ago I was reading the graphs really well and it was a fun learning experience. As a scalper, I couldn’t imagine holding over the weekend, or even overnight. Upon completing the Evaluation Process, traders are offered to enhance their trading skills on an FTMO Account in a demo environment as FTMO Traders with a balance of up to $200,000 in fictitious funds. In the Client Area, you can select your FTMO Challenge based on the Account Balance, Account Type, and trading currency of your FTMO account. We will be automatically alerted that you have passed your FTMO Challenge and we will proceed to Dec 8, 2024 · Start a Free Trial Now. I could see I was trading in a emotional state and felt very isolated. 01 for the remaining trades to meet the criteria for minimum trading days? I started my challenge on the Monday and I failed in like a day because of that, It doesn't help that on my personal I swing and I let trades run loose. Feb 20, 2024 · Many of the reviews compare FTMO favorably to its prop firm competitors, citing the clarity of the Challenge rules, great customer service, and the prompt and generous payouts. 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. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. I feel the challenge is more of a puzzle. So today I failed my FTMO challenge. The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. A Forex Funding Challenge is an industry wide established term used to describe a component of the Funding Program where traders must complete specific trading tasks and meet certain performance metrics to qualify for a virtual funded account – the FTMO Account. Start a 10K evaluation for only €155. FTMO is legit, and I assume they have a lot of very successful traders. This topic is mainly for people who already have a challenge going on, and they struggling with it, as it become more stressful and it might influence your performance. Sorry OP but that's a dumb question. 01 Explore the FTMO platform and unlock Free Trial bundle of Tools & Services; 02 Assess your trading skills without entry fee; 03 Gain insight into the FTMO Challenge and Verification; 04 Identify areas for improvement before undertaking the paid FTMO Challenge; Important Reminders: FTMO gives a short time to make 10% profit, which means that traders are forced to trade aggressively and implicitly increase the risk of losing and by this they have their future insured for FTMO because they live off the money of those who lose their fees when they buy a challenge. Can't go wrong with FTMO. to prepare you for live markets. Question about ftmo challenge rules. 70-. After the 30 days I was not able to get my account to break even. 5% per trade with a 1:2 risk-reward ratio, you will hit 10% in 10 trading days. - Each challenge was done separately, months between one and another. price negotiable depending on challenge size … if I can’t pass it then you get your fee refunded (not your challenge fee only the fee for me to pass it for you) . This serves as a testament, however, of how badly designed the FTMO challenge is. Take your time and focus on steady, consistent growth rather than aiming for quick, big profits. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". This offers more room for loss compared to the other options, but has a higher entry barrier due to the multi-step process. Very happy with myself and my progress, especially that I started trading less than a year ago. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. So in my case, I reached a draw down exceeding 5%, but never an I just close the trade and walk away with the profit or loss I got from the trade. . My mentor tells me this is great for a first challenge since mostly everyone fails there challenge way before the 30 day mark. The real question is do YOU have a consistent and profitable method? That is the real question. One particularly favorable review called FTMO a “life changer. 100K agressive challenge allow up to 10% DD and goal is to reach 10% profit the allowed 20K DD is considering the 10K profit already made Reply reply More replies 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. to be fair, ok over-leveraging. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Key rules include: Profit Target: Achieve a certain profit target, usually 10% for the Challenge and 5% for the Verification. Maximum Daily Loss: The maximum amount you can lose in a single day, typically 5% of your initial account FTMO developed a unique Evaluation Process for traders, consisting of an FTMO Challenge and a Verification, specifically tailored to discover trading talents. com is a platform that provides traders with the opportunity to trade with real money and potentially join their trading team. You have mentioned you're profitable on your own and with a large sample size, so congratulations. Looking through the trades since I triggered the challenge to start. let me know ! Peace Minimizing mistakes during the FTMO Challenge will definitely increase your chances of success and can generally benefit your trading. I have a Myforexfunds live account and have recently failed phase 2 of another challenge. Getting an FTMO Challenge is your first step towards becoming an FTMO Trader. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the FTMO developed a unique Evaluation Process for traders, consisting of an FTMO Challenge and a Verification, specifically tailored to discover trading talents. 5-1. The majority of challenge takers are not aware of this and are risking only 1% to 2%. This 60-day period allows traders lots of After you pass all the Trading Objectives in your FTMO Challenge, you will see a notification in your Account MetriX informing you about your success, and you won’t need to trade the account anymore as your Trading Objectives are marked as passed. No "gotcha" moments or stupid fine print rules. Things I learned from this challenge The FOMO, the fucking FOMO. People bitch about higher cost and FTMO being 'plain jane' without all the bells and whistles, but that's what makes them great. I have come along way! Please share your experience with trading or even FTMO :) Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Achieving short-term profit is one thing, but at FTMO it is important to be disciplined in long-term and to follow the risk management rules, which are essential for your account longevity and trading success. FTMO. 80 to satisfy those rigorous parameters. FTMO gives a short time to make 10% profit, which means that traders are forced to trade aggressively and implicitly increase the risk of losing and by this they have their future insured for FTMO because they live off the money of those who lose their fees when they buy a challenge. However, before you can do that, you need to pass their challenge. Detailed practical information on FTMO Challenge rules and tips for passing. I quickly learned that I have to have RR sitting at . Commissions/spreads are low and competitive. Sep 30, 2022 · Question about ftmo challenge rules. FTMO gives a short time to make 10% profit, which means that traders are forced to trade aggressively and implicitly increase the risk of losing and by this they have their future insured for FTMO because they live off the money of those who lose their fees when they buy a challenge. "At FTMO - daily draw downs are equal to losses. Jun 23, 2024 · The verification step follows the FTMO Challenge, allowing competitors to double the time to accomplish the profit target while adhering to the rules. ” Many traders will always complain about the strict FTMO Challenge requirements. You have to be profitable to be able to make money on their FTMO Challenge Rules. We call these rules Trading Objectives. The challenge consists of trading with a virtual account for 10 days, with a specific set of rules and conditions. I have a swing account because big news days are my best days, and I focus on smaller profits so 1:30 is sufficient. Our rules are designed to help you develop disciplined trading habits. aqo ukc kogm aicjlrx zrjrriu tme xqnojj niusipuy uccgb ukynbs