Failed ftmo challenge reddit

Failed ftmo challenge reddit. I had 13k in drawdown and about 6k in losses. My friend had 5 funded accounts and never a payout. So in my case, I reached a draw down exceeding 5%, but never an are the people that pass your ftmo challenge legit? : r/Forex So today I failed my FTMO challenge. Just a curiousity of mine. This caused me to fail the challenge. 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. Rish management is key, and you should aim for minimum 1:3 RR and risking no more than 1% of your account. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. Check out my shared screenshots with FTMO challenge stats for a closer look at the journey to success. But bro, these challenges are designed to evaluate long term profitability. Thanks a lot🙏 I did not contact support. FTMO is a company based in the Czech Republic. It's a huge improvement for day traders at least. . It shouldn’t matter if they’re making money from failed challenges as long as they’re paying traders. My challenge ends tomorrow. My daily hit 23k. But now i've failed for twice. I’ve failed it and failed to keep up with the requirements which got it closed. FTMO makes the majority of their revenue from bad traders who are stupid enough to fall into the above loop which is a large amount of them. I started my challenge on the Monday and I failed in like a day because of that, It doesn't help that on my personal I swing and I let trades run loose. I was 50$ away from starting over. FTMO and other prop firms earn their money on people failing challenges. You don’t get any of the profits from the challenge. I have a Myforexfunds live account and have recently failed phase 2 of another challenge. Looking through the trades since I triggered the challenge to start. 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. Yes , I keep it in mind however one question I still have if I'm in gains of let say 1k , does the daily loss self adjust? Another question is about hedging a trade but from my experience they would still consider the hdged loss not the winner ,so for this experience I won't be hedging my trades I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. 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. FTMO | The Modern Prop Trading Firm since 2015 This week you open a new position and it starts to go against you at minus -$1900. And looking where price moves to. You should do the free ftmo challenge, they give you 14 days to get 5%. 80 to satisfy those rigorous parameters. ” So you could do news if you wanted to just to pass the challenge and get your funded account but then going forward you Hello, I failed the FTMO challenge because my stop loss was not triggered due to FTMO site maintenance. i would keep trading as usual to show consistency. com is a platform that provides traders with the opportunity to trade with real money and potentially join their trading team. But if I continue trading my current FTMO challenge, it does not look like I will reach the 10% target in this month either (the current challenge looks like it is heading to a free repeat again this month). Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. It's been quite awhile since I've done an MFF challenge so my point of view may be outdated especially if they've improved the spread or not. A lot of traders have been able to make a good living by trading full-time thanks to FTMO. If you pass the challenge and verification you will be refunded the amount you paid for the account after you have 1 profitable month in your funded account. From what I remember MFF has 3-4 pip spreads on gold while FTMO has around 1. The 2 major drawdown periods are plain and simply my fault. Daily loss was 10k. On my FTMO account under credentials with the login ID and password it also says platform DXtrade. But for the challenge, they're faced with the same problem as before. I felt ready, and started my first ever FTMO challenge on Monday gone, ended up making 9% this week and I am around €70 from the profit target of €1000. It is true that at the beginning, I was afraid to fail the first test, I knew how to trade with a small capital at the beginning and I wanted to opt for the comtpe financed at 50k$ 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. I just wanna hear from people with personal experience trading with SurgeTrader and/or general ideas and opinions. Is it possible to still fail the verification stage if you don't violate any of the trading objectives? Stop taking ftmo challenge. I just waited until it came. The awful truth about FTMO : r/Forex Currently I'm doing the FTMO challenge and I got to the profit target. Created a new account and after day 1 I met the profit goal. They would promise to fund your trading account with any of their chosen brokers (mostly small brokers located in Cyprus), for up to 100 thousand dollars leverage, but only if you first pay them a certain amount of money in advance for a demo. 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! is FTMO legit & reliable? if yes, then do you think it's worth Countless YouTube videos, Udemy courses, Google searches. 10 and put a stop at 1. once you pass they give you the acct, and from then you grow the account and get paid from it WHAT I like about FTMO? 😀 For new traders, FTMO is a good place to start. As for risk management, a 1:3 risk-reward-ratio with just a 2% risk on solid trades was my golden rule. I recently traded a FTMO challenge, however I’ve been looking at SurgeTrader for a minute. This topic is mainly for people who already have a challenge going on, and they struggling with it, as it become more stressful and it might influence your performance. FTMO offers three account sizes: 10% Profit Share: The account size ranges from $10,000 to $100,000, and the challenge fee starts from $155. com challenge. I have been trading since 2020… There's an interview with FTMO CEO where he mentions 94%trader fail the challenge. Thats why Im asking if you had expierence with this. 70-. Having failed many challenges before finally passing into the verification I felt overconfident initially given the easier Tp and tried to quickly blitz through; soon finding myself in deep drawdawn, I contemplated a hail mary trade with US FOMC or CPI to pass this challenge. Later I took a second challenge and I was in the same position, $320 from finishing the first phase. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Tbh MFF is okay, their customer service is kinda bad ngl but there is proofs of pay outs. I’m not saying its not hard. FTMO is a prop firm where you can get a funded account to trade. Dont beat yourself up, this isn't easy. if i can't, then I'm not ready yet, save your time and go back to the drawing board and work on your strategy. 5-1. I have reported the issue to the support team , I now await the response. First things first, let's start with the basics. But you do get a payout. So good trader = guaranteed funding from prop tbh many people dont really have a choice aside from taking the challenge because most likely, no one has 100k lying around to use. I could see I was trading in a emotional state and felt very isolated. FTMO really doesn't like it when you risk a lot. Theoretically you could complete the entire challenge in a couple of days if you are good enough or get extremely lucky. 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. But the funded accounts always ducked him FTMO Suspending New US Accounts : r/Forex Welcome to FXGears. 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. What is the legal relationship between an FTMO Trader 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. 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 The majority of challenge takers are not aware of this and are risking only 1% to 2%. We would like to show you a description here but the site won’t allow us. Deposit the challenge fee into a brokerage account and trade it away. Do not be tricked by fly-by-night firms offering cheap thrills. Has anyone else experienced this? My goal would be to pass phase 2, get funded, and get back over to FTMO ASAP! I don't know if it's just their broker Eightcap or what, but this is frustrating. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". If you reach your 10% you have reached your goal and move to the next challenge. Example the FTMO challenge, granted the first time I tried the challenge failed miserably but it's forex. 50% Profit Share: The account size ranges from $10,000 to $500,000, and the challenge fee starts from $295. It was my first challenge and I couldn’t believe it was actually happening. I learned to trade with a family member and when I started 4 months ago I was reading the graphs really well and it was a fun learning experience. Remember, in the market, perfection is elusive. FTMO. Reply This course will dramatically increase your chances of passing the FTMO Challenge on your first attempt. 22 votes, 24 comments. I almost nuked my account by letting a trade get away that came back from being 4950$ drawdown. 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 Hello, good day everyone. I took a 2. This is why you tend to see "I passed the FTMO challenge (secret : after their 8th attempt)" posts and zero "3rd month in a row extracting an income from FTMO" posts. com, a trading forum run by professional traders. I felt cheated and disappointed. true. I have passed the initial challenge and I am currently trying for the verification phase. Cant wait for the downvotes on this Hey Guys, just passed a demo challenge in 5 days on FTMO, so happy! I'm not selling anything, not selling my EA, not selling courses, just here to share my progress :) FYI I used my latest creation, TurboScalpX discussed here last week: •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. I believe their business model is banking on most people failing the challenge. 1%-3% max but I think 0. I am confident I will pass the challenge stage but I am a bit in the dark on the verification stage. Or check it out in the app stores   FTMO 10k challenge - 25% profit but failed cause of Passed Phase 1 and 2 with a different Prop Firm and blew funded acct in 3 days. I can demo trade just fine, I passed 3 ftmo trials one after the other. Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. When you finally learn how to trade consistently and generate profits, the sky is the limit. I also only think you can fail the challenge once and lose your initial investment. Hey guys, I am currently doing an FTMO Challenge. 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? FTMO definitely isn’t a scam. Currently undergoing the FTMO 10k Challenge phase 1 and safe to say I'm still in it. 10 and put a stop… You need to work out why you failed first. Since then, Ive passed and failed additional challenges, sometimes on Phase 1, sometimes on Phase 2. 00 lot trade and that started the losing streak. For swing traders, it's a great improvement too once they actually get the funded account. I failed my first 5ers challenge with poor risk management because my strategy works for my personal accounts. 00. This helped me a lot to reduce the stress of passing. e. But having SOME funded traders is a good thing. I love practicing with these challenges. Or trade a small capital and grow it to afford FTMO which is what I’m doing now I never understood this mindset. He traded the challenge and verification with 5%/trade and you don't have to be incredible lucky to pass the challenge and verification that way. For Christmas I think they’re doing 90% payouts. I did the challenge myself. I have come along way! Please share your experience with trading or even FTMO :) 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. They kept saying I had to wait till the 10 days are over and then i could reach the 10%. I failed the FTMO challenge because my stop loss was not triggered due to FTMO site maintenance. 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 Sep 23, 2022 · Between how I failed FTMO challenge and how I can help you to improve your game, this video is more about looking back at your trading performance and getting the most out of it. After passing both phases, you start getting all the profit you make. But the normal payout is 70%. I over traded and just went in complete denial over the fact that I had just lost a substantial amount. 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. To me the fact that you have to make a 10% gain is proof they want you to fail so they get the fee you paid for the challenge. The issue here is that you see all the 'success' stories and no failure stories. If you lose 3 trades which is 300 dollars in a row the strategy isn't working. Step 1 - FTMO Challenge Get the Reddit app Scan this QR code to download the app now. 90 while the site was performing maintenance causing me to owe more than my stop loss. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. It's hard as I started ftmo challenge and my Forex funds challenge and in 1 week I passed ftmo. For example, I bought at 1. And not only that, but the Verification too! This is the best Forex course for beginners to learn how to pass any Prop Trading Firm challenge, and during the course, you will witness the entire process with the most popular firm – FTMO. This serves as a testament, however, of how badly designed the FTMO challenge is. Please dont get me wrong as I have a very limited knowledge about profits etc. For example you open a trade and it goes to a -5% loser and then reverses and hits your take profit for +10%. That was a low moment for me. After approximately 1-2 business days, we will then send you the new account login credentials for the Verification stage. Same with the 5% on the 2nd challenge. Find something that works atleast 50% win rate and do not ever break rules. I'm definitely no expert and have only just passed the FTMO challenge after a year of studying and messing around. Well, just then you FAILED the challenge because you lost 8K last week then opened a position that briefly went -$2010 passing your maximum allowed drawdown at 10% or 10k. Came back couple months after some studying and putting in the time. 6 pip spreads. Both verifications took me more than 30 calendar days I believe slow and steady is the way to go with ftmo. "At FTMO - daily draw downs are equal to losses. So I decided to try an ftmo 10k challenge. I know We will be automatically alerted that you have passed your FTMO Challenge and we will proceed to evaluate your trading results accordingly. I would sa Passed the first evaluation but failed the second due to emotional trading and holidays season. So far so good, but I got there in 8 trading days instead of the minimum of 10 trading days. No one is obligated to take the challenge, they’re simply providing the opportunity for people who are consistent. Note that this is not the first time it happens No. The following week I did really bad in my Forex funds challenge as I didn't adhere to the rules. 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. 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 How about a Free Trial? Please explain it like I’m five. Without the weekends, you’ll get 20 trading days. My advice is if you can afford it, go for FTMO , if not MFF. I also read some reviews on TrustPilot and it seems like the Daily drawdown is one of the main reasons why traders fail the FTMO challenge. I would say go for it but you won't make life changing money because of how strict their rules are. I have not violated any of the rules and have gained 5% over 4 days. I quickly learned that I have to have RR sitting at . 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. 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. EA uses a well-calculated hedging strategy to either pass the prop challenge or recover the cost of the challenge (challenge fees), so you don't have to pay for another challenge if the first one fails. I got upset that I closed the trade too early because I would have passed my ftmo challenge in that trade. Currently attempting my first ftmo challenge on the 10k account. I feel I was lucky with the first phase 1 challenge, but the second phase 1 challenge took 23 trading days. It's not hard to get funded. I feel the challenge is more of a puzzle. 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 😂😂😂) 🤦🏾‍♂️ Max loss was supposed to be 20k. Sounds like someone who failed the ftmo challenge 🤣. I have tried the FTMO challenge a few days and got a very bad and unfair experience. Ex: -$75 on a trade would me that you were -$75 in drawdown or a cool . Price keeps going against you another -$110 (-$2010 total) then back to negative -$1900. 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 . Now we can trade through high impact news and hold runners over the weekend if we want. Welcome to r/FTMO_Forex_Trading! If you're here, chances are you're looking for some tips on how to pass the FTMO. The price gapped down to 0. Uhum. 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. i’ve been reading posts and comments about FTMO’s challenge of 10% for 30days is ridiculously high. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Share 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. 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. Overall, I was still roughly 7% in profit. e impulse, corrective, impulsive etc. Same thing happened with my first ftmo challenge, I was £700 in profit. You can fail a challenge with just unrealized PnL alone. 😀 The answer is revenge trading. However, if you can do that, then you are in the game. You have mentioned you're profitable on your own and with a large sample size, so congratulations. Very happy with myself and my progress, especially that I started trading less than a year ago. 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. I explained my case, and even took the so called loss which did not equal what I was supposed to be losing. Swing traders can go through a multi-month drawdown even with a profitable strategy, b It's like they want you to fail (I know, they make money with the challenge fees). Keep trading sharp! 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. They have a long history in the industry, proven consistent payouts, and upstanding customer service. If it's something you can easily fix and are confident you'll pass then go for it. I don't think you're going to deny that an 85% winrate with a 10:1 average RRR for a profit factor of 61 is unsustainable. After a while it seemed better to simplify everything and just look at plain simple price action, I. to be fair, ok over-leveraging. 8 - Win rate of 55-60%. I quickly learned that wasn't the case with a prop firms 5% daily DD. It has a free trial that’s quite tough if you ask me. It's been 2 months since i got the prop firms challenge . But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the 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. 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. I am very risk averse so 2% per trade is high for me. I think that the FTMO trading is a good opportunity for traders to get good returns for a small amount. FTMO kind of reminds me of one of those claw machines where you put in money to try to get a prize. I submitted a claim. You need to buy the challenge and then pass both phases. FTMO's 70/30. I have just bought an FTMO challenge and I got my FTMO challenge login credentials from the clients panel. I cut my lot size in half to finish. But I realized in the end that if I do passed the challenge, then it's a free to use capital for me as I got my challenge fee back. 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 Passed my first FTMO challenge :) : r/Forex Just completed the 10% challenge for the 100k account on ftmo in 36 hours. Step 2 - Verification One thing you should know before taking this challenge is that FTMO requires steady traders. For this hedging process to work, you will need two accounts: a prop challenge account and a live account funded with a smaller amount. a little confused about the ftmo max daily loss : r/Forex FTMO | Modern Forex Prop Trading Firm & Funding Challenge I just failed the prop firms challenge for 2nd time. If you can pass the ftmo challenge, that means you can double your capital in a month without the restrictions of ftmo. 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. You'll keep failing. And if you get lucky and you pass, you won't hold the account for long. The advantage of buying a new FTMO challenge is that I can take advantage of the new no time limit rule. 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. So you put a deposit / security payment of $230AUD, to start the challenge, but can lose a maximum of $1500AUD Don’t buy a challenge to follow this topic, if you can’t trade after passing the challenge there’s no point of taking the challenge in the 1st place. They're a legit company, if you don't want to go with ftmo go with another prop shop. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. To answer FAQs, yes I’ve done lots of research on it and even read the fine print, so don’t come at me. It's still a fail even though the trade you took won and passed the challenege. How has passing the FTMO Challenge and Verification changed your life? I'm now able to trade 40k euros, so the undercapitalization problem is immediately solved, knowing that I can potentially earn my country's average monthly wage with a single trade. The rules for the Challenge Passing help you handle risk management better. 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. if you place these small lot sizes just to make sure you pass the challenge, they will see it and let you have the account maybe, but you will end up blowing it. The cost of the FTMO challenge depends on the trading account size that you choose to trade. We are currently recommending and standing by FTMO. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. So for example, take the FTMO challenge, you’ll need to pass the 10% target. Mind you the max that I have lost is 1% per trade. once you're a full FTMO Trader, you can even go on an entire month without trading at all if unforeseen Why FTMO funded account trial is a dangerous trap for you. Only 8% of all challenge takers pass. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. Prior to that mess I was 800 shy of the goal. 5 to 2. If you are extremely disciplined go for it. It requires patience, time and discipline. wddmnt rreo eeeywh hsrr uwmp pkov khlot hexqm jqrgud aogoomh