Failed ftmo challenge reddit. Remember, in the market, perfection is elusive. com, a trading forum run by professional traders. ly/MyTradeJournal (Code: IMPTRADER 10% OFF)Trade Copier: https://bit. Deposit the challenge fee into a brokerage account and trade it away. You only need to earn 2. Prop Firms. So, in order to keep the live accounts, I decreased my lot size by 50% from the phase 1 challenge level. I’ve passed a couple challenges and I hated them. If it's something you can easily fix and are confident you'll pass then go for it. If they fail, you are still out FTMO's challenge fee. So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! 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. I think that the FTMO trading is a good opportunity for traders to get good returns for a small amount. I am a bot, and this action was performed automatically. One thing you should know before taking this challenge is that FTMO requires steady traders. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. I submitted a claim. The advantage of buying a new FTMO challenge is that I can take advantage of the new no time limit rule. If not then practice on a demo with 100k and try and see why your strategy for the 20k isn't working for the 100k. Hi all, long time trader here, just recently passed my $15,000AUD FTMO challenge in 2 days (lol), and was wondering how does FTMO profit from its users if alot of traders fail? To put this in perspective, I'll be speaking AUD. I just waited until it came. When you finally learn how to trade consistently and generate profits, the sky is the limit. comInterview with our FTMO Trader Nikita: https://youtu. Hey guys, I am currently doing an FTMO Challenge. true. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. Very happy with myself and my progress, especially that I started trading less than a year ago. Sep 27, 2021 · What's your next step after you fail your first FTMO challenge? This video goes over 3 key actions you can take to improve your chance of success with your n Become our next FTMO Trader and work with an initial balance of up to $200,000: https://ftmo. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. You'll keep failing. And looking where price moves to. Sep 27, 2021 · What's your next step after you fail your first FTMO challenge? This video goes over 3 key actions you can take to improve your chance of success with your n Currently undergoing the FTMO 10k Challenge phase 1 and safe to say I'm still in it. Theoretically you could complete the entire challenge in a couple of days if you are good enough or get extremely lucky. Rish management is key, and you should aim for minimum 1:3 RR and risking no more than 1% of your account. The following week I did really bad in my Forex funds challenge as I didn't adhere to the rules. They kept saying I had to wait till the 10 days are over and then i could reach the 10%. Regarding account management, MyForexFunds put out some interesting statistics about their traders a couple of months ago. It has a free trial that’s quite tough if you ask me. I was sticking to my plan, then one day I caught some good profits on news. The Verification has easier Trading Objectives than the FTMO Challenge, as the Profit Target is reduced by half to 5%. I almost nuked my account by letting a trade get away that came back from being 4950$ drawdown. 22 votes, 24 comments. I love practicing with these challenges. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. A lot of traders have been able to make a good living by trading full-time thanks to FTMO. So for example, take the FTMO challenge, you’ll need to pass the 10% target. It was not easy and like a lot of you guys I started Forex through a scam on Instagram, a MLM company (pyramid scheme) where my “mentor” told me I could easily double my account every week with 20 pips a day and as I didn’t know any better I believed it. That's what I get for being an idiot. 5% a trade, I just feel like I have been so unlucky this whole time, I haven't won a trade so far this week and So to them, it is a completely risk free business. Hello, good day everyone. Both verifications took me more than 30 calendar days I believe slow and steady is the way to go with ftmo. The rules for the Challenge Passing help you handle risk management better. be/_kKvG Sep 23, 2022 · My Twitter: https://twitter. com/IMP_Trader* Tools I'm using:Trade Journal: https://bit. Check out my shared screenshots with FTMO challenge stats for a closer look at the journey to success. 5-1. I have come along way! Please share your experience with trading or even FTMO :) The majority of challenge takers are not aware of this and are risking only 1% to 2%. Prior to that mess I was 800 shy of the goal. Find something that works atleast 50% win rate and do not ever break rules. I feel I was lucky with the first phase 1 challenge, but the second phase 1 challenge took 23 trading days. If you can pass the ftmo challenge, that means you can double your capital in a month without the restrictions of ftmo. If you lose 3 trades which is 300 dollars in a row the strategy isn't working. It requires patience, time and discipline. Ex: -$75 on a trade would me that you were -$75 in drawdown or a cool . Overall, I was still roughly 7% in profit. This caused me to fail the challenge. I could see I was trading in a emotional state and felt very isolated. In the second challenge, I decreased my lot size 25% after the first phase. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. 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. It's been 2 months since i got the prop firms challenge . e impulse, corrective, impulsive etc. 075% down on the account and you are only allowed a maximum of 5% relative drawdown per day meaning that if you have a 10k account and hit -$501 before the trade goes back in your direction you’ve failed the challenge We would like to show you a description here but the site won’t allow us. But now i've failed for twice. which is more than enough to pay out the traders that do make money (90%+ loose) -the really great traders with good rm and consistency over a longer term basis get copy traded onto a larger live account. 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 You need to work out why you failed first. 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 profit split if your account is in a slight loss but you haven't breached any of the drawdown rules during that month? I did the challenge myself. If you pass the challenge and verification you will be refunded the amount you paid for the account after you have 1 profitable month in your funded account. Greed got the better of me. I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. I am very risk averse so 2% per trade is high for me. Dont beat yourself up, this isn't easy. Passed Phase 1 and 2 with a different Prop Firm and blew funded acct in 3 days. I am so proud of me, I finally passed my 100k FTMO Challenge (along with a friend of mine) and I wanted to brag a bit with you guys. 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. 00. If they pass, you pay. It's hard as I started ftmo challenge and my Forex funds challenge and in 1 week I passed ftmo. Stop taking ftmo challenge. So you put a deposit / security payment of $230AUD, to start the challenge, but can lose a maximum of $1500AUD Max loss was supposed to be 20k. I'm definitely no expert and have only just passed the FTMO challenge after a year of studying and messing around. Then you are disqualified. I have downloaded the cTrader from the FTMO website and I tried to login with the login credentials from my FTMO account but it failed. - Each challenge was done separately, months between one and another. 10 and put a stop at 1. The purpose is to test your trading consistency. However, if you can do that, then you are in the game. 5%+ per month to scale up the accounts every 4 months with ftmo (maybe other firms also). 6% and I've almost failed the challenge, I'm not sure how to get out of this but I might need some advice, do I carry on with my strategy and hopefully get 2 wins in a row or do I risk it all with It is true that at the beginning, I was afraid to fail the first test, I knew how to trade with a small capital at the beginning and I wanted to opt for the comtpe financed at 50k$ but fearing to fail the verification stage with quite complex evaluation criteria I called upon a professional who passed all the steps for me and passed brilliantly. Guilty of doing news releases too hahaha and for what it’s worth it says here “Please note again, these restrictions on trading during the restricted news events do not apply to FTMO Challenge or Verification accounts. Just completed the 10% challenge for the 100k account on ftmo in 36 hours. Just some side notes: If you don't hit the 10% mark in the challenge you can get another free challenge attempt as long as you adhered to the other conditions and closed with a profit. Daily loss was 10k. 1%-3% max but I think 0. So I decided to try an ftmo 10k challenge. Ask me how I failed my FTMO challenge with 0 losses (currently no open trades) It appears this thread is about Prop Firms and Scouting Programs. The price gapped down to 0. MyForexFunds is a prop firm out of Canada with similar challenge parameters as FTMO. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. My daily hit 23k. And did my due diligence asking them (the ftmo team) multiple times if i was allowed to hit the 10% target before the 10 day minimum. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". So today I failed my FTMO challenge. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. A detailed overview and comparison of popular forex prop firms can be found here. So far so good, but I got there in 8 trading days instead of the minimum of 10 trading days. WHAT I like about FTMO? 😀 For new traders, FTMO is a good place to start. I over traded and just went in complete denial over the fact that I had just lost a substantial amount. I feel the challenge is more of a puzzle. 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. And if you get lucky and you pass, you won't hold the account for long. the split is about 80/20 i think? but you have a pass a test to show you can trade well enough to grow an account without losing more than a percentage of the account. The moment you start thinking "I have to make x before date y otherwise ecc ecc" the quality of your trading drastically I failed the FTMO challenge because my stop loss was not triggered due to FTMO site maintenance. I have passed the initial challenge and I am currently trying for the verification phase. On FTMO's YouTube channel, I was watching one of the videos about the process and they said in the video that you don't need to contact them because they already know your account is ready for the next step. Thats why Im asking if you had expierence with this. ” So you could do news if you wanted to just to pass the challenge and get your funded account but then going forward you I just failed the prop firms challenge for 2nd time. So 1st day got 862€ profit. I quickly learned that wasn't the case with a prop firms 5% daily DD. Imagine on the last day of the trading period, if you are on real challenge with real money and you profit at this level, but suddenly you hit over the daily loss limit $10+ or whatever. 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? The Verification step is the second and final step of our Evaluation Process. If i do not violate any of the trading objectives and end up in the positive consodering my account gain, I am eligible for a free re-try according to FTMO's FAQ. Mind you the max that I have lost is 1% per trade. Only 8% of all challenge takers pass. My challenge ends tomorrow. On my FTMO account under credentials with the login ID and password it also says platform DXtrade. I had 13k in drawdown and about 6k in losses. If you reach your 10% you have reached your goal and move to the next challenge. l One piece of advice for people starting the FTMO Challenge now. But if you do the math of the minimum amount of profit you need to pass a challenge the challenge will be a lot easier to pass. 5%-1% is better for long run, Actually I was doing well in the two phases but in the FTMO account I wasn’t myself when I look to my entries back then i says WTF why did i took that trade whats the reason for the entry, I was just want to make money fast, Greed blinded my insight now, I believe revenge/over Trading has a huge psychological Welcome to FXGears. As for risk management, a 1:3 risk-reward-ratio with just a 2% risk on solid trades was my golden rule. I have just bought an FTMO challenge and I got my FTMO challenge login credentials from the clients panel. After a while it seemed better to simplify everything and just look at plain simple price action, I. The 2 major drawdown periods are plain and simply my fault. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Tools & Services that were unlocked for you when you purchased the FTMO Challenge will remain unlocked. Trading 2 1/2 year u got any tips for on trading indicies (nas,us30,Spx) during nyse open at 6:30 I’m trying to focus on that with my next ftmo challenge (I’ve failed 5 100k acc 😂😂😂) 🤦🏾♂️ As promised yesterday, I applied for a paid challenge to publicly assess the FTMO challenge and resolve once for all all questions about legit or not… Coins 0 coins Countless YouTube videos, Udemy courses, Google searches. I did not contact support. But if I continue trading my current FTMO challenge, it does not look like I will reach the 10% target in this month either (the current challenge looks like it is heading to a free repeat again this month). Be patient, manage risk, nobody is pointing a gun at you, If you end up not making the profit target it's perfectly fine, you will try the next month for free. 2nd day exceeded my max daily loss of 500€ besides I had 862 from the 1st daydoes this rule make sense? PS: this is just a trial, just testing some strategy, but one thing I already learned, use small lot sizes and never more than 50% of your margin, otherwise you will fail sooner or later. Well, I just failed my FTMO challenge. Same with the 5% on the 2nd challenge. Keep trading sharp! FTMO is a prop firm where you can get a funded account to trade. 8 - Win rate of 55-60%. Step 1 – FTMO Challenge. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the The Verification step is the second and final step of our Evaluation Process. And now it's all down Before got the challenge,I had spent hours and days for backtesting thounsands of orders and it gave me gud result at that time. I went for another move today during news to try to finish up the challenge, then I took a huge hit and lost the account in 30 mins. For example, I bought at 1. 90 while the site was performing maintenance causing me to owe more than my stop loss. I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. Looking through the trades since I triggered the challenge to start. Its a lonely, mentally taxing journey that is incredibly challenging and rewarding. I was 50$ away from starting over. Since then, Ive passed and failed additional challenges, sometimes on Phase 1, sometimes on Phase 2. -ftmo's business model is based on the failed challenge fees. Without the weekends, you’ll get 20 trading days. This helped me a lot to reduce the stress of passing. Currently I'm doing the FTMO challenge and I got to the profit target. once you pass they give you the acct, and from then you grow the account and get paid from it. Our FTMO Challenge is the first step of our Evaluation Process. My question is: Can I just open two positions on two separate days and close them right away for a break even, or will it be considered as "cheating"? Thanks in advance for your help! I failed my first 5ers challenge with poor risk management because my strategy works for my personal accounts. You should do the free ftmo challenge, they give you 14 days to get 5%. Hey everyone, i started frmo about a month ago, it took me about 2 weeks to pass the first challenge, last week I started the second phase of the challenge and the whole time I've just been in loss, I've been trying to trade in a disciplined manner and haven't been risking more than . lvradsbwkpvnkovpwzijzspwigmvwdizvtzrxkushstzs
