Ftmo drawdown rules reddit. That number will be your risk.

Ftmo drawdown rules reddit 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. I have the live account a week and I blow it due to max daily draw down (Powell XAU). 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. So even when you drawdown in equity you breached the rule. 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. 5% per trade on live account. No, on FTMO you have a 5% daily drawdown limit regardless of equity. Factoring in trailing drawdown, this would still require me to lose about ~15 trades in a row. 14 days period with their 5% equity drawdown, 10% max. They are all the same with different rules, just whatever suits you best. That number will be your risk. . Because it seems easier. FTMO normal account is trash. If your maximum drawdown per trade is say 1% then that's $100. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. A lot better than the harsher rules prop firms like FTMO impose on their traders in my opinion. 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. The combination of bigger drawdown and lower profit target might lure in people who are not ready yet to trade live. People try to be consistent with ftmo. Do keep in mind, you can lose this account by violating trading rules (max daily/account drawdown, trading during high impact news, etc. Is it possible to still fail the verification stage if you don't violate any of the trading objectives? But chances are you / majority wont be and that is their business plan. No "silly discounts". 6k in a 100k account single phase account with a Max Drawdown of 6%, and I went ahead and withdrawn the profits. Share Add a Comment Read the rules but I think that MFF and FTMO are legitimate company's. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. If you usually make 10% in some days as gamblers do, yea then it is worth it, but if you take trading like a business and professionally then is not worth it. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. You have twice as long. I figured that the max Drawdown at this point would be at around $96,444, which would be a 6% drop from $102,600 (the account high). There isn’t a straight answer because it depends on trading style and risk. but still need to know an experienced opinion about this ? Any information will be appreciated. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. When considering your risk you need to use the maximum drawdown amount, not the total account size. FTMO will allow you to have an unlimited amount of standby/inactive accounts for this very reason. Are their drawdowns fixed? If not, any other prop firms with fixed drawdowns out there? Yes, fixed at 10%. Instead of a fixed equity level below your starting balance, you're -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. After passing does phases your then get a funded account. This rule can also be called “trader’s daily stop-loss”. Im currently doing the challenge myself. But if you can prove otherwise go ahead. There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. 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. My strategy works over time but without a dumb luck streak it won’t do +10%. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. 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. That doesn't mean passing the eval isn't more cumbersome than other prop firms. See full list on ftmo. I don't know about you, but I don't take huge drawdown in a relatively small account like that. Another part of FTMO is seeing if you can keep your account steady for 10 days. If i pass i then try to get agressive and get as much money as i can and then usually crash the acc. So here I am, a fresh FTMO account sitting -490 (10k account) with another 500 to hit my max loss. We do not place any limit on the number of accounts you can have in the FTMO Challenge and Verification stage. 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 You initially pay for a challenge account. Nov 9, 2024 · FTMO’s drawdown rule helps ensure traders manage risk properly. I’ve been trading for long enough to know it isnt sustainable. But for the challenge, they're faced with the same problem as before. Currently attempting my first ftmo challenge on the 10k account. com The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. If you're not careful , you might lose the account because you broke a rule you forgot about. 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%. Which many people doesn't like. This is probably against their rules but if you don't get caught its free money right? Just try it yourself. Based on this info, you need to decide how much drawdown are you willing to risk on your personal account. Sigh. There are plenty of prop firm challenges without a trailing drawdown, that simply don't pay-out. 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 It took only a 1. If a trader hits either limit, their account is closed, and they fail the challenge or verification. So from my understanding that means every 6pm est your max loss resets. Dont blame anyone but yourself. 10% a month on funded accounts could be huge, there’s $1. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. In your case the simple answer is to halve your risk. We call these rules Trading Objectives . 2% risk (i. 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). One week goes by and you've lost 8K and have made $0 profit. I made the mistake of rushing things and jumping in trades that didn’t. FTMO has a 10% maximum drawdown, this means that you would lose your account in simply 5 trades. Also rules can change with time. First time i perform this bad. If you are a real profitable trader you shouldn’t have any problem following FTMO rules. Does challenge not helping u to stick to the rules? U should know ur drawdown alowance and must stick to it overwise acount will be closed. If you are trading 100000, as soon as you go under 90000 you are out so account size is 10000. Thought the rules was 5% drawdown everyday based on initial balance, my account only went -700$ around from the initial balance. Constantly have to jump in and out of trades due to news or the weekend. Are you willing to let the drawdown all the way to 50% of your account? or perhaps only 30% before you close the trade? Lets say your tolerance is 30%. However, we have a maximum capital allocation limit when you are an FTMO Trader, which is $400,000 (prior to scaling) per trader or strategy, at any given time. I mean trading is already hard from a consistency stand-point. Basically, they provide you with a demo account, and you have to achieve the target profit amount without violating the rules (the rules are basic risk management stuff, like not exceeding a set drawdown per day/week). Got impatient and basically was just stupid. They punish the traders who keep the trades breathe… 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. You can do that on FTMO demo acc. Take your time, bad losing streaks happen to everybody. ($50,600- $2,500 = $48,100). Get consistent first and learn to manage risk. 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. FTMO doesn’t have time limit anymore, so I would decrease risk even more, risk so little that you can easily lose 20 or more trades in a row. If you don't like drawdown rules, Darwinex has none, but funding will be smaller Lost my FTMO Account just now because of stupid mistakes I made. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. It’s part of their trick because the smaller the account size, the tighter the rules are for max and trailing drawdowns. FTMO Account (Standard): Restrictions apply during specific news releases. However, I never strayed from my original gameplan other than cutting my system off for the rest of that particular day. Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. You have violated the rules even though you are still 2%+ in profit on the account. With appropriate risk management the drawdown rules shouldn’t be an obstacle. Anyone who says all prop firms are a scam just can’t manage risk for nothing, I’ve passed more prop firm challenges than I can count and have received a hefty amount of payouts from several different firms. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. And beside FTMO count only balance. Given my -1. I’m very curious about this phenomeno, never took an ftmo challenge, would like to hear your thoughts and experiences. The drawdown will be tracked much more accurately on your eval and paid account. 2%. 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 I think the key to keeping an account after passing is to treat the account size equal to how much drawdown you have left. However, what I really dislike is all the different rules, different lot-size caps and drawdown. I lost accounts on tft and mff because of their stupid drawdown rules (and myself for not taking profit when I should have). No funky gimmicks. Then size the lots to risk 30% of your account every trade. There seem to be quite a few users leaving negative reviews. I use 50k ftmo account. I started looking at the Apex rules and saw this: Let's say you start the first day with $50,000 and the max you can lose is $2,500 or a low of $47,500. They've been around the longest, have the most experience, and it shows. We call these rules Trading Objectives. However, account grows much quicker than FTMO, so still better than FTMO purely on the weight of account growth How is the daily drawdown calculated? I only have experience with ftmo, the funded trader and my forex funds. I have not violated any of the rules and have gained 5% over 4 days. This led to me breaking the 10% drawdown rule. In order to become an FTMO Trader, you will have to pass our 2-step Evaluation Process. The 5%ers, have more conservative rules on risk but the benefit is you have 6 months to hit the profit target. Step 1: The FTMO Challenge A 30 calendar day demo account where you will have to trade according to our rules. Always payout, every time. At which point you’d need to start from square one. Pay yourself first as it's not your money. Are there any other prop firms like ftmo besides mff? I don’t like mff due to the equity drawdown rules What happens if you finish your month trading on a drawdown of -2% ( which im currently at). FTMO is legit, and I assume they have a lot of very successful traders. 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. - To be with other like-minded forex traders. 5R trade. I either pass ftmo or fail. However, they do have one drawback that may be a dealbreaker for many. 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 else its still a violation of their rule. Do my statements make sense? If yes, why would anyone not go for a swing account? 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. The profit target is 10% so 10/0. The potential for account growth is however capped which is a huge negative for me. 75%), but have managed to pass a challenge phase within a few days. Holding existing trades is allowed. (1% of risk per trade with 66% win rate) FTMO rules are far laxed compared to the firm I work for now but l manage a far bigger book and obtain bonuses and payouts. And jn your case its a good lesskn . Most prop firms have two evaluation phases. ). I am not going to blow this account, I blew too many! I just can’t believe myself sometimes, when I am trading my mind just switches off. The whole idea that you have to change your risk management all the time is just making it way more difficult than it already is. Welcome to /r/SkyrimMods! We are Reddit's primary hub for all things modding, from troubleshooting for beginners to creation of mods by experts. This is how FTMO currently works, where you lose your funded account if you ever lose 10% of your starting balance. I got slipped 4. It goes without saying that risk management is the most important part of trading. For swing traders, it's a great improvement too once they actually get the funded account. I trade on a funded account (5k trailing drawdown) with 2 ES contracts. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. I only trade with ftmo because the other ones are build to make u lose if the market is against you. Anyone halfway decent should have no problem passing imo. You never know when you will breach any of the rules or when they changed any of their rules. It includes both a Maximum Daily Loss (5% of the account balance) and a Maximum Drawdown (10% of the account balance). FTMO 's rules on news trading: Challenge and Verification: Trade freely during any news release. No "gotcha" moments or stupid fine print rules. You need to read carefully rules and TOS and see how you manage them on live market. If your only gripe is that the rules are too strict then you're not a good trader. If you can manage 30:1 go with the swing account. Another firm with fixed drawdown is 5ers. Do you lose your account? Im on my first month trading live after completing the challenge and evaluation, and this particular month wasn’t successful for me. 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% 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 difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. 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. 2 on FTMO. 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. You'd go with topstep since your able to risk far more per trade vs FTMO etc before breaking max loss rules. There are others like TopStepFX and Fivers. Even if i get 5-6% on that account its like 3times my monthly wage so iam gucci. Typically, you'll have 2 evaluation periods with progressively more stringent risk management rules. Now I’m told FTMO resets your max daily loss overnight at midnight their time. com's Reddit Forex Trading Community! Here you can converse about trading ideas… 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. You have to be profitable to be able to make money on their 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. 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. 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 was looking at 5%ers as a prop firm VS FTMO because of the conditions they offer : No trailing drawdown (you can build a buffer) No news rules When looking at their scaling plan, I saw that they offers up to 100% profit split from up to a certain point but also a monthly salary ? I keep losing to the relative drawdown rule. You won't hit a dd that bad if you are already a successful ftmo trader. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. 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. FTMO’s drawdown rule helps ensure traders manage risk properly. 5% draw down limit on equity makes sense but imposing it on open trades and unrealized profit is too much to handle. Although most traders think they are losing money in trading because of flaws in their trading strategy, the truth is that in most cases they are not using proper risk management. 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. yea most of the people go there because they see 80% profit split and they are like: woaabut you have to think on long term. I want to keep trading FTMO with a new funded account. Guys i see to much bad news on borkers cfd like FTMO, MFF… and others. Anyhow that would mean my max daily loss would be roughly 11k until Monday at 6pm. You are talking about MFF. Swing traders can go through a multi-month drawdown even with a profitable strategy, b Sorry OP but that's a dumb question. Now we can trade through high impact news and hold runners over the weekend if we want. The rule says that at any moment of the day [CE(S)T = Central European (Summer) Time], the result of all closed 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. 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. Whereas on FTMO the drawdown is based on initial account balance which is the most fair. You will never have worry about a "MyForexFunds" moment w/ FTMO. You will have superior account conditions in the form of our own FTMO account solution with very low commissions and raw spreads. 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 are down to $88k, does that mean your account gets suspended / terminated, and you 38k profit goes?! MFF is bad imo, If you’re in profit of 10k and you lose 7k profit ( 3k net ) You will fail the challenge due to drawdown even though you’re in profit Reply reply OtherwiseSomewhere19 Just knew about forex funding yesterday from a reddit user , i took my time reading and comparing FTMO , MYFOREXFUNDS and The5ers , i liked the my forex funds options more than the others . I can’t seem to follow my rules and I always just want to pass as fast as possible. 5% I won't be allowed to be in an open position with more than -3. Hi. 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. If you closed the first trade in profit, and then the second trade went 100 into drawdown then your total daily loss would only show 100 from the first trade. ftmo and other prop firm offer swing account means less leverage and less margin . I still hv one account with them. 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. One of the reasons why FTMO has gotten so popular is because of their drawdown policy. -Share FUNNY Trading Nov 9, 2024 · 1- The Drawdown. What most FTMO traders don't realize that non realized losses also count as ''actual loss'' in the FTMO dashboard. For the $100000 account, use the $10000 drawdown amount because once you lose that you are out. Usually you have to hit 8% in the first phase and 5% in the second phase. Welcome to FXGears. Example 100k account you would risk $1000 per trade, but if you’re allowed $10k drawdown you would risk only $100 if you’re risking 1% of the total… Skip to main content Open menu Open navigation Go to Reddit Home Basically, it goes at such. Better stick to rules in this stage so that it doesnt hurt kn long run. 80 after all the trades hit my stop losses. 9 pip spread on Tokyo session is unacceptable, I get 0. New comments cannot be posted. No stress trading on live account as we don't have time limit. MFF's drawdown limits are based on account equity as opposed to account balance. Both are relatively new but have a reputable liquidity provider (Eightcap), absolute drawdown rules, and generous time limits. It's really easy to break this rule. 5k from the top of your open balance. The first trade went at most 150$ into drawdown. I'm gonna do this to get around their no-weekend holds + no news trading rule. He has also been funded by multiple company's and Also Forex Beginner podcast with Calvin who has also been funded with MFF I believe. Edit: the rule breach is that cpi was a restricted event and i should have waited 2 mins after to close the position but stop loss was taken 30 seconds after the news. There are drawdown rules that if you ever violate you will lose the account. Went against my trade setup telling me to short and I took a long instead. Their can't be a prop firm with no drawdown. 3 pips on USDJPY, no rollover no news, London session. After having the funded account you don’t have any monthly profit target. I feel like a huge huge failure. I passed, focusing on my risk management, not profit. New one could just be scam, it will definitely cause unfair slippage and spread through simulation. Your daily drawdown got reset and you didnt think about it. 66R per day. I'm by no means bragging, I'm simply stating that FTMO is worth it and anything worth doing is hard. No strategy I have can make 10% in a month without the breathing room. 323K subscribers in the Forex community. I'm risking only 0. 60-4. For example, you make 2% profit during that day, now your drawdown will be 7% for that day, the bad thing is that if you let the trade roll to the next trading day and your trade goes to break even (-2% FTMO Daily Drawdown & other things to look out for. You don't keep your full profit. Most people only lose the challenge because of too much risk and therefore the mindset takes a hit. It should go without saying that your rules are rules for a 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. You cannot open or close new trades (including pending orders) on affected instruments within 2 minutes before and after the news release. Yeah, I can only speak for MFF although I assume the same is true for other firms… the drawdown rules still apply. And repeat those steps again. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. Similar trade on FTMO did not slip, another trade I got stopped out when the price was 0. 5% drawdown otherwise I would violate the -5% daily even though my open position could still go to profit. Real fuking hard. Search for Kimmel prop firms on YouTube and he has the most comprehensive info on prop firms currently. Which is allright by my rules. 5k and a profit target of 3k, you can never lose 2. I'm planning to take the paid test for FTMO in February, but I know that my EA bots sometimes fail the daily drawdown rule and I'd like to know what happens if I lose my funded account. The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. Lost my other account which i had freshly passed in like 20-25 days. This means if you are up 5% on a trade, move the stop loss to break even, and the trade comes back to stop you out at break even, you would have violated MFF's drawdown rules. So, I diversify. 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. in short it seems like they cheat by making you lose the money you invested to do some challenges to get an account with them (propfirm). The max daily loss is the thing you need to watch out for. Once i blow this one i will go to myforexfunds. (You should not be worried about this bc losing the accounts its not the objetive, but it gives me a little bit of info about the company and his values) Beeing happy about the possibility to have bigger drawdown is asking for trouble. For me ftmo is not the right firm, it has some huge rules in my opinion. Let's face it, the only difference is the loss in buying power in heavy dd is there on a $10k account. Also, I approach my prop firm accounts the way that you describe: Max Drawdown is my Account Balance in my mind. And even so a good trader can break a drawdown rule very easily if he/she has a series of losing trades with good risk mgmt. For example Ftmo have a max daily drawdown of 5%, if im +6% monday and tuesday I get stopped at breakeven (-6%), I Broke the rule of max daily drawdown even tho the account have lost 0$. But once you have the funded account, there's no reason to take any risk that will blow your account. I've made a profit of 2. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. Better luck next time, customer service wont give any free trial lol 😢 Also, another important rule for me its that when you broke some rule on MyForexFunds they keep all the money, instead on FTMO they give you the % and then close the account. e. Another point to note is that trading with own money is always better and profitable in long term. Relative Drawdown is more complicated, and more beneficial for the firm. Your max drawdown always TRAILS the profit peak in real time, so now the max drawdown is $48,100. Example: Max drawdown is 10%, you start a 100K account so you can only lose 10K total or you fail. FTMO's 70/30. At the moment I'm more focused on reputation. 7m of funding available just with what I consider to be the top 4 firms (MFF, FTMO, 5ers, TFT). 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. You got greedy. Trade it like that is your account size. So to keep your risk relatively the same you need to cut your size by 10th so 2% becomes 0. if i breach margin call what will happen to my account are they… Because you only need 5% to pass don’t let that fool you. FTMO has the best commission, the drawback is can you hit 10% profit in 30 days without going into a daily drawdown of 5%. Multiple prop firms, spreading the risk. As for FTMO and MFF, they have daily max drawdown rules of 5% so you can't use your realized profit as a buffer. The max drawdown rule applies to open positions as well. So looking for some advice finally passed both phases of a 70k funded FTMO. 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. Prop firms are not stupid to make tight drawdown rules (if I back you with capital, I would impose those rules as well) it most newbies suffocate when they lose a few trades consecutively and end up blowing their accounts in less that 10 days. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. Isn't ftmo max daily loss (drawdown to be precise) is 5%? How long can you get 10% profit (their monthly target challenge) with that reward? If you think you can do it under 1 month then that's great man, super low risk 👍🏻. . I am confident I will pass the challenge stage but I am a bit in the dark on the verification stage. 9 pips away, also had the same trade on FTMO that did not get stopped and went on to take profit. Locked post. it don't help you with nothing if 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. With MFF you also have a 5% daily drawdown but it will be based on equity. Its profit split structure starts at 80% and transitions to 100% profits quicker than Bootcamp, and the additional monthly salary is a unique incentive. Price of 8x 200k FTMO accounts(in USD)- $1190x8= $9520 10% gain - 20% profit split + refund - price of accounts = $20000-$4000+$1190-$9520= $7670 Relatively new to prop firms, appreciate any helpful comments. 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 second trade with a draw down of 2%, does this mean I exceeded my daily draw down and will have my account closed? 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. Drawdown rule is a bitch as it's takes floating p/l into account. So guys, be aware. If you are as well, you have your FTMO app that shows your daily allowed drawdown. 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 Yeah check them out, their rules state that any profits you made can be used as a buffer instead, so it's okay even if you lose all your profit in one day. 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. 1% risk per trade with 47% wins is not good, you can easily hit that max 10% drawdown, try 0. If you can make 10% in a month on their account, you can make 100% return per month on $10k. 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. Apex is a good prop firm imo and easy to pass and payouts are very simple. Well this is what happens when I don’t follow rules. The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. This is the only way to succeed with prop firms long term, in my opinion. Plenty of places out there who offer services of this sort, the most noteable (and in my mind trustworthy) are the following: 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. We ask that you please take a minute to read through the rules and check out the resources provided before creating a post, especially if you are new here. Well obviously it would be dumb to risk 10% on 1 trade, and you really can’t lose more than 1 trade if you’re risking 4% per trade because of the drawdown rules prop firms have and it has to be less than 4% because of the max drawdown rule. What kind of honest firm penalizes you when you are in profit? I have funded FTMO accounts, they have really decent spreads for Forex. 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 first $5k. However, after all the euphoria resided I checked my FTMO dashboard to found out that I broke the Daily drawdown limit with only $20🤦. My question is does this apply to both the first and second stage? Also do I get the re-try if I'm just $1 in profit without breaking drawdown rules? To answer your question, I’ve certainly come close to hitting the 5% daily drawdown (-4. I guess I have to learn the hard way. You place your first trade and the active trade is in profit $600. The real question is do YOU have a consistent and profitable method? That is the real question. 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 in protit) 5% daily loss drawdown, No email from them informing me i failed and the client area is normal as well, my s/l's were set to survive the daily drawdown but i guess the slippage made it a little bit closer than imagined. 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. No issues. Customer Service SUPER fast and responsive. Reply reply Crypto2Forex2022 It's a huge improvement for day traders at least. and didnt limit losses. According to our rules, this is set as 5% (10% in case of an Aggressive version) from the initial account balance. Essentially, if you have a trailing drawdown of 2. I recently broke these rules and they withdrew more than i had made off the trades no idea how they worked it out. it goes nicely into profit for a few days, then price just comes straight back up and hits your sl at breakeven. The maximum daily loss resets at midnight daily and does include both open and closed positions. Their drawdown rules are extremely reasonable. 2 = 50 you need 50 R to reach your target and you only have 30 days (without counting weekends) so 50/30 = 1. So im doing a Ftmo challenge and im at phase 1 atm, in Two days I managed to rack up a 9,32% drawdown. In this article, we will cover everything you need to […] The rules are very against swing trader. I got unlimited days to trade left. 0. Otherwise it's pretty standard 5% daily drawdown and 10% max drawdown from initial balance. Most people have horrible risk management and rely on hopium and prayers to get back to break even if they can. Now i m planjing to build my own account alongside ftmo so that these rules dont hurt all that time invested in doing challenges. You need to practice their rules before you can evaluate is this something that suits you. So if you are up 30k TODAY you can drawdown FTMO is awesome. Take your profits out and fund your next challenge. Honestly for me its not worth all the rules they have, I’d rather just use my $7k+. But it is good for good traders with 0 capital (minus the $400-$600 you might have to pay 1-4+ times). wukchns tnwpu ydgv ueajz iuvw afsfd teee qiyinx bneap oietnq