Ftmo max loss reddit. Our FTMO Challenge is the first step of our Evaluation Process. So I stoped because I didn't want to break any my max daily loss. OP also has a 25 lot size trade. At 50 lots ($500/pip) minus the spread, an 18 pip move against you would lose you the account. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. You're trying to gain/prevent the loss of 100%, not 10%. While Bootcamp has 3-stages, they have a 12-month time frame to complete. If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. The Max Loss is not a current threat since you're sitting well clear of $90k. 80 after all the trades hit my stop losses. Following are the Risk 100 and profit 200 to 300. You must have breached it while your trade was still open, but by the time you closed it, you were either back in profits or loss <5%. it will take a long time for 5%ers to understand trading is 50:50 game, max loss and max target has to same. So to keep your risk relatively the same you need to cut your size by 10th so 2% becomes 0. 2%. I noticed that their payouts for the higher tiers is 100%. I think the maximum loss i went to was -£300 from closed profits, and -£500 from floating loss, which even that totals to -£800. Pip Calculator Your max loss is 10% (or 12%, depending on firm), so you actually only have $10k risk capital. •FTMO Swing Account: no longer need to close trades for the weekend and, once you've passed both the challenge and verification, if I recall correct they also dropped the requirement of minimum 10 trading days a month - i. But I saw an opportunity on Sunday night. But based on my experience it’s not quite suitable for me because the spread on regular hours is quite huge. The cons on E8 would probably the 8% max loss rules which make it quite hard to pass FTMO : Good execution, and the slippage is not really bad, good account metrix. Let's say you have a bad day and your closed and floating losses exceed $5k on a particular day. I have reported the issue to the support team , I now await the response. Edit: try this: Risk max. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. which is more than enough to pay out the traders that do make money (90%+ loose) On my 25k FTMO Challenge it says the max daily loss is exceeded today but it never actually did, i never did at any point go into drawdown above $1,250, i had stop losses set for every trade and today i only lost $698. Max loss is your account size minus the lowest equity your account has seen. The maximum permitted loss overall will be 10k plus any profit so in this case 11k. Reply reply seems like you guys have not understood how ftmo works. 5 per position. 5k profit. Add to your winning positions once you are in a relatively safe position. 2 = 50 you need 50 R to reach your target and you only have 30 days (without counting weekends) so 50/30 = 1. Im currently doing the challenge myself. Overall, I was still roughly 7% in profit. Sure you get 100k in literal balance but the challenge is basically trading with 5k worth of reliable balance. Trust me, if you can't manage to stay within prop firms dd limits, you can't manage a real funded account either. FTMO is legit. You don't blow your account but you get kicked out of the program once you hit daily 5k loss, which is pretty much the same. My daily hit 23k. 72 (-0. com/watch?v=Xx4KbdsLZ2cIn this video I take a look at the FTM There are four basic Trading Objectives you need to know to become an FTMO Trader and trade up to $200,000 on your demo FTMO Account. . -ftmo's business model is based on the failed challenge fees. That account was gone with the help of back 2 back red impact folders getting to my feeling and over leveraging. Max loss was supposed to be 20k. I usually risk 1% per trade so if I had 2 bad trades I would be out. Level up your trading game and aim for longevity rather than the get rich quick mentality. I've done 2 days of the trial. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. e. FTMO gives you unlimited retries as long as you don't break any rules and stay in at-least a dollar profit. 4% max. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. I was in gain and their metrics were telling that I failed the max daily while at the same time I was in gains of over 1k. The Reddit Law School Admissions Forum. Since the Max Daily Loss is exceeded, you have officially failed the challenge. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. The only difference is that it’s not limited to one day but the entire duration of the testing The Maximum Daily Loss is one of the most important Trading Objectives. What's your opinion on this? I want to trade on FTMO - max leverage is 1:3 for my symbols. All accounts to be merged have the same risk setup. For a Normal risk account type, the limit is set at 5% of the initial balance. Don’t count on it being ignored once you’re live. I have been told that this lot size is too small. ( I checked the time convertor just in case and it had already refresh so I was in a new day) So basically i woke up and I was -1350 for the day. 1600$ 5. If your open trades reach $51k, your new daily loss limit is $3,500 as long as these trades stay open, this is your daily loss limit until a trade closes and a new trading day has begun. Instead, people think they have a 100k account and 1% risk is good risk management so they can risk 1%, but 1% is $1k, which is 10% of their total risk allowed. 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. Where you can really hit the gas is if you trade conservatively into profits one day, let's say 20k in profits. Let it become a great sensation knowing you got stopped out instead of cutting the with double the loss or atleast facing a nervous breakdown before it goes in profit it at all. I explained my case, and even took the so called loss which did not equal what I was supposed to be losing. When I was very consistent the Russia Ukraine news popping up on my intraday setups(4H). Floating P&L should not breach the daily loss limit. If you go -3000 then +10000 then -5000 your max daily loss will show as -3000. Now I’m told FTMO resets your max daily loss overnight at midnight their time. You now have 30k as a buffer against the max daily loss limits and 40k against the max loss. This offers more room for loss compared to the other options, but has a higher entry barrier due to the multi-step process. So from my understanding that means every 6pm est your max loss resets. If your account size is 50000 and you take a trade and then you go into loss of 1000 i. 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! 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 these are the fundamentals of trading and we may use data on your simulated trades to perform our own trades in real financial markets. For example, at $50k the daily loss limit is $2,500. com, a trading forum run by professional traders. They kept saying I had to wait till the 10 days are over and then i could reach the 10%. This makes me think they are actually looking consistently profitable traders that know how to manage risk. Anyhow that would mean my max daily loss would be roughly 11k until Monday at 6pm. 66R per day. 53. Post any questions you have, there are lots of redditors with admissions knowledge waiting to help. 50 loss or slight win. once you're a full FTMO Trader, you can even go on an entire month without trading at all if unforeseen For the "Max Daily Loss", it says i went down to -£1093. They pretty much went all in on a single trade on a funded account and made a killing. I learnt in august-September after having a experience that was Tbf worse than yours,but since iv divided my max loss on prop firm by my max drawdown I pretty much can only lose if I exceed that max drawdown which is more rare as the more data you accumulate,it will dwindle max possible returns ofcourse,but personally I risk big on challenges Then there's Traders4Traders which is another decent option but that 2% weekly loss limit is way too tight for my liking. Don't believe in negative comments. Welcome to FXGears. Where the trade will automatically close out if the limit is breached. Thanks for the advice you guys. The maximum loss on the account is 10% So if you violate any rules they will take the account from you The FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. Let's say that I have a 10000$ account, and I lost a 100$ trade, my max loss will be 900$, and after that I win a 200$ trade, why my max loss is still 900$, and if we keep going I will end up in profit but I will hit the max loss (this is just an example), why it't it like that? The maximum daily loss resets at midnight daily and does include both open and closed positions. Reply reply It's a 200k account with a 5% max daily loss. Would like to set like a . On top of that, if you gain 10%, you don't have a 110% account balance with the freedom to reduce that amount to 90%. My challenge ends tomorrow. 31%) on the Max… Nope,as he said it's the total loss from the starting point, Like if you're ever up 20%,and then lookse 25k, you're still in the challenge Reply reply Newb question about Max Daily Loss for FTMO: I only made one trade and it ended in profit +$300, no losses, but it's showing my max daily loss at -$462, I'm guessing that was the equity when price move up and down. 13 votes, 19 comments. Not trying to be offensive, but it was dumb to keep trading let alone without a stop-loss at less than -$500 or without keeping track of how much you were down for the day. your equity is 49000 and then you go into profit and close the trade at profit of 2000 your max loss will be 1000. However, Max Daily Loss of $5k is always a constant threat. com Mar 16, 2020 · How to pass ANY Funded Trader Program Evaluation - Risk Management Strategy:https://www. Do it on a demo account and enjoy and relish the moment it hits stop loss. 5k is the max daily loss and 5% of the 100k is the max you can lose. You're most likely overleveraging with a very tight stop loss. Check out the sidebar for intro guides. Just keeping your account the next couple of weeks should be your goal, forget about being paid for now. The single merged FTMO Account will then have a combined balance value as well as the drawdown limits (5% Maximum Daily Loss / 10% Maximum Loss). Don't move stop loss and let it jot stop loss. For FTMO, the two trials involve more luck that normal trading due to the time constraint. The max daily loss moves based on the result of all closed positions and open positions. There is no profit due for your Profit Split. You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. I have done 2 trades, both with a profit (£42. I just lost an account too. When my trades follow my setup, I can make 200 pips atleast. your daily loss is daily compounding. There’s rules For example the maximum daily loss is 5% of the account, if you violate that rule they disable the account and you gotta start all over again. Do people tend to use all the balance in their account and set the stop loss to a sensible amount taking into consideration the max drawdown that is allowed with FTMO being a max of 5% or do people buy 1 lot and use higher leverage? I am just so confused with contracts/lots and stop losses. The max daily loss is the thing you need to watch out for. The third rule is called Maximum Loss. Tip 2 - Create reminder notifications for the upcoming week of all high impact news just in case. Step 1 – FTMO Challenge. But once you have the funded account, there's no reason to take any risk that will blow your account. 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. As far as I know from reading the rules if you go over 5% loss on open positions it will close your account. On a 25K account you max daily is like $1,200 and total max is $2,500. 🥲 Dont give up on prop firms, especially FTMO. 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 I was doing a FTMO or MFF challenge I would probable risk no more than 1% and the 5%ers would be . BUt you gotta be careful cos their server time is confusing for rollover and if you get caught in a drawdown it fucks you. I felt cheated and disappointed. Does FTMO allow this? On my 25k FTMO Challenge it says the max daily loss is exceeded today but it never actually did, i never did at any point go into drawdown above $1,250, i had stop losses set for every trade and today i only lost $698. Hi, I wanted to ask if I have a £10 000 FTMO account and I get this to 5% and therefore finish the month at £10 500. Note that this is not the first time it happens Challenge: Two-step program requiring 8% profit in step 1 and 5% profit in step 2, with max loss of 10% and max daily loss of 5%. The best place on Reddit for admissions advice. I'm doing one funded account challenge and the max daily loss is set to 50% of the overall max loss by default . 20 votes, 20 comments. The first trade went at most 150$ into drawdown. So if you are up 30k TODAY you can drawdown Additionally, you need close any open positions on the pair it'll effect . This is stupidity. so let me clear things up: your trades never get placed in a real market. To my recollection, i can never remember this happening, nor remotely close. To hit your 10 day minimum trading days litterally enter and exit 1 trade a day at like a $0. 77), no losses yet. Which I keep all this and do not take any profit split, Is the next month Max daily limit now £525 & is the max limit 10% of £10,500 which is I can’t go below £9,450 or does my max limit consider the earlier £10 000 meaning I can’t go below £9000. Passed my target profit but then realized I was slightly over when it came to daily loss. All accounts to be merged are in the same base currency. We have developed this rule so that traders can become experienced risk managers with habits of professional traders. Do you have 4 green ticks on the following: minimum trading days, max daily loss, max loss, profit target? Underneath these do you also have a green box that says “Currently, Trading Objectives are completed. When considering your risk you need to use the maximum drawdown amount, not the total account size. Be wary of news events that can cause high volatility fluctuations in the price as that will cause slippage with a tight SL. I'm asking because I've heard stories about FTMO refusing to payout because the trader supposedly overleveraged. I signed up for the 25k account, got thru the first stage, was only around $250 away from passing the second stage and getting my account but one day of emotional trading got the best of me and I passed the loss limit. I went to took a nap and before that i checked my account matrix and it said my max daily loss was 1,600. The FTMO Account is not in drawdown. Tip 1 - On your phone or computer you should add another clock time to match FTMO's local time. 05% max loss per trade and a 2% max loss per day. ps. I want to start the 10k FTMO challange but i am scared of the Max Daily Loss what would be the best lot size that i can use to… I have tried the FTMO challenge a few days and got a very bad and unfair experience. youtube. 389K subscribers in the Forex community Your starting account of $100k now sits at $400k as you've chosen to keep most of your profits in the account. I was doing about 1% a day. %0. I just wanted to know. As a result, they are then forced to reduce their stop loss (and risk closing the trade too quickly at a loss) or, in the worst case, accept a larger potential loss and risk a much larger percentage of the account than would be consistent with their risk management rules. If you are as well, you have your FTMO app that shows your daily allowed drawdown. Closed that trade for a 6. making 10% profit with 4% max loss is very difficult. How exactly is that calculated? Can't find an answer on FTMO You're not seeing what I'm getting at. I’ve passed before but your right about the daily loss. 400$ 3. I had 13k in drawdown and about 6k in losses. The profit target is 10% so 10/0. You should change your max daily loss now at 100$ so you can have a few bad days and you still have the account. 800$ 4. Daily loss was 10k. I am worried that if I use a bigger lot size, I might hit the daily loss limit and my losses might be difficult to overcome. FTMO has a 10% maximum drawdown, this means that you would lose your account in simply 5 trades. The calculation of the Maximum Loss is similar to the Maximum Daily Loss. Why does it say I am -£62. So its essentially daily watermark. FTMO has a dashboard that lists the times that the news will be released. You don't get his logic, because you apply the same rules to a private account. You can lose 10% on FTMO with 10% target, so you have to double your account. Leverage 1:100 Good question. To lose 5% is to lose 50% of your available funds. Congratulations! We will verify your account and will contact you as soon as possible”? I am using 1 lot and 2 being the maximum. %ers allows 4% max loss on 6% target that is on the first time once you pass evaluation their rules are different for doubling the funding. 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? Say you end the month at $199,000 on a $200k account. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. FTMO Challenge update, their metrics system once again flagged an inexistent max daily loss violation, while the account both the balance and the equity were in profits. 3200$ On a funded account its much different and would not be as risky. 10% would be 1% total of the money available in your FTMO account. Which ever hits first you get booted and lose your funding and would have to start the process all over again. 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. See full list on ftmo. We could call this trading objective “trader’s daily Stop Loss”. If you have profit of 1k for the day on a 100k USD account your max daily loss will be 6k for that day. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Prior to that mess I was 800 shy of the goal. Your risk management needs to based on that $10k number. zoqwweyhkacfzelaibbbpxdtayytnwjpmmomjpchqybsrk
