How to use ftmo reddit g engulfing). Paid for the FTMO challenge and was went the ctrader account credentials. % doesn't matter if the trader isn't using any money management. The amount of capital you get is great for easy money, given you pass and get a payout. 34 votes, 61 comments. If i pass i then try to get agressive and get as much money as i can and then usually crash the acc. I was learning from this guy name raja banks when he use to stream everyday with other people. My trading plan using the Swing FTMO account, in terms of how I understand Crypto Futures, was trading BTC using 1% for position (100. Especially since my average holding time is 12 days. I’ve hopefully learnt something from all the pain however. as title says, i’m using the demo at the moment but prices are different. Very beautiful effort by you. For example, a U. 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! A Reddit Community run by MM community members for those that want to use, learn and understand more about how to heal chronic illnesses with Medical Medium information. 5-1. Well, maybe you don't know how FTMO works, but basically FTMO are providing financial services to financial institutions, banks and personal investors including investors in FTMO and the owners themselves and the good traders are the ones providing the services through their trading activity. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. This is because as part of the ftmo contract agreement that you sign when you have an account, you are providing a service to the company and thus they then pay you for said service. Doing well maxed my funding on FTMO, I see that as a bank now lmao, currently doing the prop firm challenge and using a trade copier to mirror my entries onto my ftmo accounts, and US30 only I made the switch to this around 6 months ago I think we have the same strategy break in support/resistance retest then confirmation with candlestick pattern (e. Then took 2 in the same time, spent little bit longer. People use FTMO to get around some of the leverage restraints in the US and I don't believe they have restrictions as far as nationality for signing up. Like the market owes me right. (+ liquidity available for that broker). The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. Yes. I think most of it comes to revenge trading and options instead of a stable cash account like FTMO where I don’t have theta or PDT. It's up to the broker you use with that prop firm if they scam you or not. Wanted to dive in and figure out how to use the platform. 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. 315% from anything related to profit taken from derivatives. . I use top down analysis at the core of my strategy. If I had to say there is 1 particular concept I use, it's looking for price manipulation that happened during the day and forming my basis for trade idea around that, while still keeping my attention on the larger overall picture and trend on the higher timeframes. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. In Europe, max leverage is 1:30 and in Japan it's 1:25, so 1:50 isn't bad at all. Overall for signals and strategy I use Oanda data as I trade that in parallel with my current strategy. S. Firms like this used to be all around the park in 2006, all got blown up in 2008 and now have suddenly gained retail traction since 2019. 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 . Dude do enough research on business models first and then take a stand. This was my first trading day using the trial as well I either pass ftmo or fail. I took 1 first and get it pretty quick. Welcome to FXGears. If the prop firm uses a third party, regulated broker like Eightcap, BBMarket, etc. I started a 100k toptier trader challenge this morning using mt5 via think market. In this terms I thought about the Challenge. This way, if you have a consistent strategy, you won’t lose the account. You only need to pass 8% in the first round and 5% in the 2nd to get funded and drawdown is 12%. With that said, if I could open say an FX account in Australia, I'd say 1:200 (up to 1:400 is allowed in Australia) would be a good all-around leverage amount to have but not necessarily use. - To be with other like-minded forex traders. FTMO’s model is very innovative though … once having passed the Challenge and Verification test phases and having become eligible to participate on the FTMO platform, the so-called FTMO ‘trader’ basically just plays an electronic game of simulated trading with virtual funds I used FTMO in the past and they are legit, I was able to withdraw and everything but I had to change my strategy and it doesn't work with FTMO's parameters. If you pass it, you get funded. It's not easy, but it is simple: earn more, spend less, and use the difference wisely. But they do not provide any more details. 5k using 1000:1 or 500:1 liquidity with a broker like LMFX, Hugosway, or any unregulated broker, you can trade using the exact same lot size. That sucks. These 2 tests I’m using have a total of over a 150 EAs and everything is connected to FX Blue. FTMO is a prop trading firm. After you sign up, you can either start an FTMO Challenge right away or, as we usually recommend, start with our Free Trial, which is a free version of our FTMO Challenge intended for practicing purposes. 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 Not at all. How I link the two is via use of a webhook from TradingView to Anyhwere, though I am having to pay for it, but its minimal given the benefits and experience so far. does anyone have knowledge about it To pass challenges FTMO, FUNDEDNEXT or any prop firms. But here is the problem: is FTMO using the same business model ? Especially because they claim they use their risk management for demo accounts connected to live markets. Please remember: Reddit IS NOT a replacement or substitute for a qualified solicitor, and any advice given here which relates to the law is purely academic in nature and should not be relied upon. ye japan taxes 20. You are trading with their money with the intent of producing a return against the market. Hi folks, are there any FTMO traders here that know if I can use iC Markets cTrader when doing the month trading challenge? I’ve been doing the trial for it on purple trading mt4 now for a while but iC cTrader is a much better option for me with its tighter spreads and lower commission rates. They are also large enough to offer their own brokerage along with your funded account. Meanwhile, I wanted my phase 2 account and it took 6 days. -Share FUNNY Trading Hello, I would like to start two challenges with two different prop firms, FTMO and The 5%ers. Even if i get 5-6% on that account its like 3times my monthly wage so iam gucci. I recently started trading again in January of this year cause my friend told me about FTMO and how they let you use there capital. ( RR 1:3 ,RR 1:4 , You can even change the SL and Take profit . - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Remember to take it once you have an experience and well built system. I went onto FTMO, as from what ive read and heard, they are ok, and i have signed up to their free trial to try their 70,000 account. Ask yourself this: why would they charge you a commission on each trade when you are trading with their capital? FTMO developed a 2-step Evaluation Process to find trading talents. I'll hold anywhere from a couple hours to a couple days. I have traded at FTMO Trial failed one but passed twice. For FTMO, the two trials involve more luck that normal trading due to the time constraint. Started trading with a demo account and actual 1000 - 500 dollars accounts but I obviously blew them 😂. com is a platform that provides traders with the opportunity to trade with real money and potentially join their trading team. I just use it as lottery Just to pitch in to this, the reason this wouldn't apply to ftmo or any prop trading firm is it is liable to income tax. Also, many of the offshore exchanges will just close your account, and keep the money if they find out you are in the US. The challenge consists of trading with a virtual account for 10 days, with a specific set of rules and conditions. struggling to understand how to open the trade and calculate new stop… The ctrader credentials ftmo sent me do not work when I go to the web version and try to login. You can't kyc cause you're in the US, and they will just take them money. Just keep that in mind when using one. I created an account on ctrader thinking once in maybe I could switch to the FMTO account, but still cant see where, how or if that is possible. 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! The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. 5k sitting around that I can afford to use so I'd rather pass the challenge in one shot and build my own capital to fund myself. They aren’t a broker, they use an institutional liquidity provider. Add your thoughts and get the conversation going. I placed market order on gold at peak London session and the line of execution on mt4 was literally not even close to where the candle was showing. Congratulations on your FTMO challenge bro If I might ask , which session do you mostly trade ? I am currently trying to figure it out which session I can use efficiently with my work 5AM to 2 PM & sleep schedule !! I notice one of your trade set up you shared in the comment and I am try it out . By using their in house broker, they can manipulate pretty much anything. Once I’ve selected my top performers from these tests they will go into a few smaller final tests before I take any challenges. So now I have my eyes on the high stakes program with 5%ers I have just bought an FTMO challenge and I got my FTMO challenge login credentials from the clients panel. Yes people lose their account mostly by not putting any stop loss in place. 1:50 leverage is fine and plenty for most people. And repeat those steps again. It has STOP LOSS 10 PIPS AND TAKE PROFIT 20 PIPS . The main indicator I use is EMA to strengthen the candles structure and it's a good indicator for me to avoid fake outs and wick hunts. I should add I have also passed a few times too with them. You can set the risk as You want . I am using 1 lot and 2 being the maximum. With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). FTMO or whatever it is called might as well say 100% pass the challenge but that doesn't make it true. Their challenges are a bit tougher than My Forex Funds where I'm currently funded. I went onto the Metrix section after the first day, and I am not sure how they calculate what they calculate. The r/GolfClash subreddit is dark from June 12th-14th in support of the Reddit Blackout Protest. So to them, it is a completely risk free business. When I used them a few weeks back they went absent for like a week, no replies ad then returned like "hey guys we are back". With FTMO I’m fairly certain there are restrictions on certain news evens across relative pairs. I also was funded once but I haven't traded since last year. I still can’t quite figure out how the daily loss works. Yeah you can use an EA, and yeah you can use a bought one BUT you may run into issues where they think you got multiple accounts. If they pass, you pay. 000 x 30 = 30. com, a trading forum run by professional traders. Long story short, I want to aim for a €40,000 challenge next year and wanted to ask you what your experiences are with FTMO and what you can possibly give me tips along the way. Let's say you trade a tripple EMA crossover strat on the 5m. The max daily loss is the thing you need to watch out for. And if you're just duplicating trades then there's no point for them to keep you on. 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. For experienced developers. I trade a live account with ftmo for a while now and never experienced any bad slippage. They're probably manipulating spreads, slippage & swap. FTMO companies do not act as a broker and do not accept any deposits. Do your research but so far, my experience with MFF has been great. 8 - Win rate of 55-60%. 000 account) and 30x Leverage, so I risk 1. As long as you don't let yourself go below the starting balance you won't have to buy another challenge. How do you use fibo and rsi in your chart as confluence i need to try this . I use a discretionary strategy but contain it with SLs Since the challenge resets you can use all that risk you have accumulated and start making larger trades to pass the challenge the closer you get to running out of time. FTMO basically, made a two-step process to check out your trading performance. If you have $1000, that's the exact same as having a $10,000 FTMO account; if you lose $1000 on an FTMO account of that size, they close your account. 4k and an end balance of 110k which suggests you must have been about 4% in drawdown on the account in the first place. Plus the scaling aspect, even a $10k ftmo account can eventually scale to $2M account. We are a non-judgmental place of compassion and light-heartedness. But once you have the funded account, there's no reason to take any risk that will blow your account. Never used them. I have seen MFF fail tests on people for trade copying, if you're gonna use signals make sure you the the S/L and TP a few pips off what the signal provider gives. Use smaller and proper size every single trade. Made a ctrader account with my personal email thinking maybe I can access the FTMO account after I get in, but still no dice. Most importantly, have fun! Your trading journey is a marathon, not a sprint. Whereas the market orders on ftmo (not all but some) have had insane slippage. so does anyone know if trading forex with their capital is legal for an Indian citizen and we're not violating any fema or rbi rules . This was my first time using Meta4 under FTMO. I've literally just done this with my personal blackbull markets account and copying to an ftmo demo challenge. but im assuming how that works if i were to work and make a profit (hypothetically) from an overseas companie like FTMO, i wonder if the same rules apply if 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. 5ers is the same. we're just providing our services to some foreign company and they're paying us. See full list on ftmo. Trading is hard. It all depends on how quickly the trade moves. A couple things to note. On my FTMO account under credentials with the login ID and password it also says platform DXtrade. You can set as You want even 5 pips SL 15 pips TP ) I am using it at 0. When my trades follow my setup, I can make 200 pips atleast. Yes, from my review of the same question, I believe US persons or entities can participate on the FTMO platform. Additionally, I setup fibonacci extension for 4 hour & daily. I’m purely using stop limits now. I just wanted to know if FTMO is still worth it. 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. Congrats brother on passing ️🍻 prop firms like ftmo,mff allow traders to trade with them globally. etc. If you set a sell/buy limit in the opposite direction in trading view it will copy over the sell limit to the funded acco Welcome to r/DayTrading!. The prop firm will control the account at the broker, that's why they pick and choose who they work with. Taking partials is not the same in trading view account. They will get you by seeing other people take the same trade with the same sl and tp within a short period I use supply and demand zones marked in daily & weekly timeframe, trendlines and trend channels. Hello, good day everyone. Welcome to /r/Netherlands! Only English should be used for posts and comments. So obviously, there’s something wrong with the strategy. 46 :D Soooo happy The same reason they got MFF. Here are my findings: WHAT I like about FTMO? 😀 For new traders, FTMO is a good place to start. However, if they used a 3rd party broker, they can’t be charged with manipulation because they don’t control the broker. 4% isn't unrealistic at all. 5% / trade. com What are FTMO Points and how can I use them? How do I qualify for the Prime Status? Is the Premium Programme compatible with the Scaling Plan? Can I merge four $100k FTMO Accounts into a single $400k FTMO Account to apply for the Supreme Status? FTMO is it's own broker, I've asked that recently and that's what they replied. I just don't have $3. FTMO. After your first payout with FTMO you basically are playing with house money. Really no reason to use them, there are better options. However, before you can do that, you need to pass their challenge. 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)? You may have some luck with prop firms like FTMO and MFF as you are not using your own money and gains count as income as you are technically a contractor. This is why I recently have been focused they change rules on a whim, server sucks, delivery of accounts sucks, customer service sucked. Build a baseline of financial security with the difference first, then use it to invest for your future. I use Daily, 4 hour, 15 minute for analysis, and 1 minute for entry. I enjoy playing swings using RSI, keeping in mind support and resistance and the higher TFs. It trades RR 1:2 Daily EURUSD ,GBPUSD ,USDJPY , USDCAD. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. Be the first to comment Nobody's responded to this post yet. There's no such thing as a prop firm that isn't a scam, because they show you numbers that you don't actually have. Reddit has made some changes in their billing for API calls that effect ALL of 3rd party developers that have alternate apps. 8 days of trading, 259 trades, Profit factore 2. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. Let's say some other trader in another part of the world also happens to trade the 5m EMA crossover strat and takes the same trade as you. 000 for a position, and for Stop Loss I would risk 2% (600usd) to 3% (900usd). As long as you know the game you are playing getting funded is always the best option. Please leave your thoughts in the comments. If you're wondering why a stock moved a certain way, check out Finviz which aggregates the most news for almost every stock, but also see Reuters, and even Yahoo Finance. Welcome to r/Ontario, the largest and oldest online community dedicated to the lovely people of Ontario, Canada! We strive to be the best place to talk and discuss all things Ontario. It sounds simple but please don’t underestimate it. Slippage only occurs over night with stocks or on the weekends with indices and forex…. I use 50k ftmo account. Utilize the Golf Clash Discord for questions and chatter. I consider myself in between day and swing. As long as your risk is ok and your stop losses are set properly there shouldn’t be slippage. If you make even a cent over the 10K capital, FTMO gives you a free retake. Hi! I am researching prop firms and I want to know what broker FTMO uses & what is the slippage for crypto trading. FTMO uses their own data and you will have to get details from the account and connect via the MetaTrader Apps. Took me several challenges to pass but all worth it. A subreddit for news, tips, and discussions about Microsoft Bing. 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. 4k + 4. Reply reply Welcome to FXGears. This community should be specialized subreddit facilitating discussion amongst individuals who have gained some ground in the software engineering world. No what I meant, is for example when you first start trading they'll pay you from the money they make from evaluation fees and if you are a profitable trader then they'll start copying your trades so my question was how much* money realistically before FTMO starts copying the trades and giving you money from the profits of the trades they made 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 basically against you, they are more I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. This rule is in place to ensure that an ample audience can freely discuss life in the Netherlands under a widely-spoken common tongue. You get a much bigger drawdown amount relative to the fees paid for the challenge. Went to the ctrader web version and tried to login with the info FTMO sent me. Without mt5, I’ll probably just finish out the month with the profits I have now and be done with ftmo. if i were to file tax report here from the profits i get from local broker, the japanese broker will generate an annual report for me to use it for tax filing. Use this subreddit to get advice on renting or buying accommodation in the UK, or to have civil discussions about it. You made 9. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. Upon successful completion you can get an FTMO Account with a balance of up to $200,000. The subreddit has not kicked you out or gone private. Not actively monitored by Microsoft, please use the "Share Feedback" function in Bing. Because when you overleverage with $3. Don't panic towards the end of the challenge to meet the profit target by risking more. Wouldn't matter if they don't have money management plan. Depending on where you are you could also have a look at Darwinex and DarwinexZero as they are a great alternative to FTMO Signals can be tough to use even when you find a good provider. I am using TradingView for my analysis, and using DXTrade for order execution only. I’ve been funded by ftmo for a couple years and I remember being bummed when cTrader was discontinued in the US. First of all I would like to know from people who had any experience with these two, if they are both allowing to copy trades between account on different prop firms. For an intraday trader though, I agree FTMO is probably a better fit since you'll be able to make better use of the free resets. I use primeXBT. How to start? Before you decide to accept an FTMO Challenge, we want to make sure that you know what you are up against. Could be 14%. Or, they will just freeze the funds until you kyc. They don't want you taking the exact same trades as others or it may flag you as having duplicate accounts. Given it is a new platrom, expect bugs here and there. If they fail, you are still out FTMO's challenge fee. Though that FTMO extension is sweet, unlimited time limits, small targets, and faster scaling are sweeter for my strategy. It’s a solid profit. I have been told that this lot size is too small. My top choices are The5ers, FTMO, and Darwinex Zero. When considering your risk you need to use the maximum drawdown amount, not the total account size. Like I said before to each his own ! 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. How does it work?. Regarding account management, MyForexFunds put out some interesting statistics about their traders a couple of months ago. FTMO is legit and has been around for a while. If you're trading with a propfirm that has it's own broker ex: MFF -> TGG, FTMO -> FTMO, AFG -> AFG etc. For beginner advice, brokerage info, book recommendations, and more, please read our Wiki here. I would get a payout and my refund then use that money to fund a personal account so you have YOUR rules without risk of losing a certain amount. If they can’t control the broker, then they can’t “slip them to hell” I was looking at getting a funded account, to use alongside my live account that i use with my own money. I’ve been trading for about 2 years and have yet to make a consistent profit. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. There is no way you'll keep that FTMO account long enough to see consistent profits. People try to be consistent with ftmo. Do my statements make sense? If yes, why would anyone not go for a swing account? 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. FI/RE (Financial Independence / Retiring Early) is a money strategy that's sweeping the nation. Btw im taking also a prop firm challenge but not ftmo. FTMO is legit but definitely avoid non reputable too good to be true prop firms and look at the broker they use too…that doesn’t mean I haven’t ‘wasted’ literally thousands upon thousands on challenges with ftmo. Please only submit content that is helpful for others to better use and understand Bing services. I believe the secret to these prop firms is using a really small % lot size once you get a live account(s). Didn't work. MyForexFunds is a prop firm out of Canada with similar challenge parameters as FTMO. news announcement would carry certain rules around trading the event. dfqxeakonhzszoqcxvldppwysgayrmqtxfgrehuzbletzzq
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