Ftmo daily loss reddit
Ftmo daily loss reddit. This morning I traded usd gpb for 3. 50 loss or slight win. 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. com serves over 80 million customers today, with the world’s fastest growing crypto app, along with the Crypto. Just got the express account and it is hard with the parameters 1000 daily loss limit on futures and a 2000 max drawdown . Im currently doing the challenge myself. The real question is do YOU have a consistent and profitable method? That is the real question. Passed my target profit but then realized I was slightly over when it came to daily loss. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. I think the maximum loss i went to was -£300 from closed profits, and -£500 from floating loss, which even that totals to -£800. ) Adding to positions to balance out the cost, ended up biting me. We have now been describing different kinds of drawdowns, however, at FTMO we use different terms which are more favourable for the trader. I don't trade anything below 1hr, however occasionally I'll snipe a trade on the 5 min Hope this answers some of your questions! I did a stupid mistake. Didnt check my daily loss limit. You have a 100 loss buffer there so if you can't make a profit like that consistently then you were doomed to fail no matter what. You can max out your margin if you stay within the 500€ daily loss and overall 1000€ loss limit. I believe the secret to these prop firms is using a really small % lot size once you get a live account(s). The Maximum Daily Loss rule may seem strict to some traders, but it makes sense. If your open trades reach $51k, your new daily loss limit is $3,500 as long as these trades stay open, this is your daily loss limit until a trade closes and a new trading day has begun. 89%). Pick a stop loss, calculate how many pips from your entry to your chosen stop loss price. The 500€ daily loss limit is not for the margin but the maximum drawdown from the daily opening balance, let it be closed or floating loss. 13 votes, 19 comments. Floating P&L should not breach the daily loss limit. You now have 30k as a buffer against the max daily loss limits and 40k against the max loss. You have to be profitable to be able to make money on their Then there's Traders4Traders which is another decent option but that 2% weekly loss limit is way too tight for my liking. There is no profit due for your Profit Split. The FTMO clients in today's series on successful traders came dangerously close to this limit, but in the end, they managed to avoid unnecessary losses and notched up a very nice return. I’m not sure how this is possible. Your maximum daily loss takes into account your daily profit. Do you have 4 green ticks on the following: minimum trading days, max daily loss, max loss, profit target? Underneath these do you also have a green box that says “Currently, Trading Objectives are completed. 5 days of 200 or more for payout at 50% and 30 days for 100% they defo made it harder to scale a 50k combine Not an exact answer re:FTMO, but 4-6 losses in a row isn't that uncommon as long as you have a really good R on your trades. 53. Congratulations! We will verify your account and will contact you as soon as possible”? Hi, I wanted to ask if I have a £10 000 FTMO account and I get this to 5% and therefore finish the month at £10 500. 80 after all the trades hit my stop losses. Don’t count on it being ignored once you’re live. Not trying to be offensive, but it was dumb to keep trading let alone without a stop-loss at less than -$500 or without keeping track of how much you were down for the day. All accounts to be merged are in the same base currency. 5k is the max daily loss and 5% of the 100k is the max you can lose. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. Set a limit of how much your willing to lose and stop when you lose it. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. Next day i violate daily loss ljmit by 33$. To my recollection, i can never remember this happening, nor remotely close. Newb question about Max Daily Loss for FTMO: I only made one trade and it ended in profit +$300, no losses, but it's showing my max daily loss at -$462, I'm guessing that was the equity when price move up and down. Daily loss was 10k. But it is important to remember that 4% max loss means you will have to be very strict to maintain your account. One week goes by and you've lost 8K and have made $0 profit. To measure your risk management skills and to apply these on a daily basis, we have our own terms - Maximum Daily Loss and Maximum Loss. This way, if you have a consistent strategy, you won’t lose the account. in reality people will say ftmo is superior, i think u dont have to leave ftmo and can have both of them at once. Stop paying for challenges if you're consistently failing. 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 $698. "At FTMO - daily draw downs are equal to losses. I usually risk 1% per trade so if I had 2 bad trades I would be out. The maximum loss on the account is 10% So if you violate any rules they will take the account from you The issue here is that you see all the 'success' stories and no failure stories. i like that maximum drawdown is 12 percent on mff and cheaper too. That money could have been better in a personal account where you aim to make 10%. Prior to that mess I was 800 shy of the goal. Which I keep all this and do not take any profit split, Is the next month Max daily limit now £525 & is the max limit 10% of £10,500 which is I can’t go below £9,450 or does my max limit consider the earlier £10 000 meaning I can’t go below £9000. I was still good but i took last small trade trying to use those 50$ left in my limit. I put my trade on November 1 but it toke it out and saying that I failed the 5000 daily loss. I’ve passed before but your right about the daily loss. At 50 lots ($500/pip) minus the spread, an 18 pip move against you would lose you the account. For example, at $50k the daily loss limit is $2,500. I had 50$ profit previous day which i forgot. I was doing about 1% a day. Whether it's worth the extra effort I think is determined by your account size outside of Or even the max daily stop, if you have made $50k but then go over your 5% max daily stop , and lose say $10k, do they have the right to just close you account, even though the account is still in profit by $40k?! your daily loss is daily compounding. Dream Job Opportunity: Potentially qualify for a prop trading job assessment with FTMO's partner firm, Quantlane. My challenge ends tomorrow. ( I checked the time convertor just in case and it had already refresh so I was in a new day) So basically i woke up and I was -1350 for the day. The Max Loss is not a current threat since you're sitting well clear of $90k. The max daily loss and daily loss remain in effect in the verification. I was in gain and their metrics were telling that I failed the max daily while at the same time I was in gains of over 1k. The max daily loss moves based on the result of all closed positions and open positions. 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. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. You can lose 10% on FTMO with 10% target, so you have to double your account. com is the best place to buy, sell, and pay with crypto. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. If one is a profitable trader, I see it as a way to supplement. Our FTMO Challenge is the first step of our Evaluation Process. Reward. Sure you get 100k in literal balance but the challenge is basically trading with 5k worth of reliable balance. Maximum Daily Loss and Maximum Loss. This trader was also able to rely on a strong combination of a good RRR (1. If you start the day by making 500, then you lose 500, your current loss is 0, not -500. 5%) 1 trade grew my account 8% ( my goal was 2% daily. So in my case, I reached a draw down exceeding 5%, but never an Find your trade. If you go -3000 then +10000 then -5000 your max daily loss will show as -3000. The max daily loss is the thing you need to watch out for. So I was $114 away from losing my account so I waited for the new day so my daily loss would reset. Where you can really hit the gas is if you trade conservatively into profits one day, let's say 20k in profits. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. I felt cheated and disappointed. 3200$ If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. to be fair, ok over-leveraging. Example: Max drawdown is 10%, you start a 100K account so you can only lose 10K total or you fail. Does anyone know if this happen to them or if FTMO can do something to fix it. So I stoped because I didn't want to break any my max daily loss. 400$ 3. They will believe anything to get rich quick. Reply reply So basically say you are in -$400 loss already in that day and your max daily loss is -$1000 then if you made another trade which is in -$650 loss even if the trade is not closed yet, the max loss will be violated and you would not pass the challenge. I had 13k in drawdown and about 6k in losses. Also the fact that you lost 8,40% in a single trading day means that you have to work on your risk management a lot. FTMO really doesn't like it when you risk a lot. I am glad to know that you WILL NOT lose the account. 32) and a very high success rate (88. The FTMO Account is not in drawdown. I was in profit 6. Unlike the first trader, in this case there was no problem with the loss limits, neither the Maximum Loss nor the Maximum Daily Loss. com DeFi Wallet. Step 1 – FTMO Challenge. This literally happened to me last night, I saw that I got my 10% when I check FTMO it said that I exceeded my daily lose By like 500 bucks. (I’ve found this is about 50/50) I ended up almost hitting my max daily loss and closed everything out. I explained my case, and even took the so called loss which did not equal what I was supposed to be losing. The account growth possible here is fairly enticing. People drive me crazy. Things happen with traders we hv to train our brain muscle. . So if you are up 30k TODAY you can drawdown This prevents you from being able to get greedy and lose more than 5% by staying in a losing trade. I want to start the 10k FTMO challange but i am scared of the Max Daily Loss what would be the best lot size that i can use to… In both the challenge stage, verification stage and funded stage you have a $10K daily loss limit and a $20k total loss limit so the only amount they are "funding" is the loss limit. If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. Why on earth would a prop firm go about making such regulations like you falsely stated? 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. Thanks for the advice you guys. Someone could easily drop their full 100k account if this was allowed. It's a 200k account with a 5% max daily loss. The first trade went at most 150$ into drawdown. I use the weekly and daily especially for perspective, and execute off the 1hr (and sometimes 4hr). Even if you trade with fictitious funds in a demo environment, you can receive a reward for your performance. Note that this is not the first time it happens You don't get his logic, because you apply the same rules to a private account. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. If you are as well, you have your FTMO app that shows your daily allowed drawdown. I went to took a nap and before that i checked my account matrix and it said my max daily loss was 1,600. One thing I have noticed with these FTMO challenges though, is to at least try to get out before you reach the max daily loss. Is the 10% max loss relevant to the initial account balance? Or the total loss over the period you have the account? The latter doesn't really make sense so I assume it's the first? Is says so when I search it up but adds "after scale-up"? Not sure what that means. I have reported the issue to the support team , I now await the response. For the "Max Daily Loss", it says i went down to -£1093. Edit: Thanks for the clarification everyone. Crypto. Don’t be overconfident. i think ftmo has better spreads, i like mff due to being bias as my first prop firm. So its essentially daily watermark. You can set it to any risk level but to match the target goal, you have to set it appropriately but it is very tricky if your risk is very near to the daily loss limit. 800$ 4. How exactly is that calculated? Can't find an answer on FTMO When you become an FTMO Trader, we can trust your trading skills and abilities to manage risk appropriately. This question was spawned by someone’s comment that if you are in a loss at the end of the month, FTMO will reset your account once but if it happens again you lose it. These conditions are in a ratio of 1:1 (loss to profit), which is the top industry standard. Hyper Growth Program: Entry cost: $450 (not refunded) Challenge: One-step program requiring a 10% profit with a max loss of 6% and max daily loss of 3%. Plus the scaling aspect, even a $10k ftmo account can eventually scale to $2M account. 1%, they’ll decide to overlook such a small incident or something? I have tried the FTMO challenge a few days and got a very bad and unfair experience. *Floating* Maximum drawdown - FTMO not only counts closed positions into the drawdown rule but also open positions. Many people who pass the testing phase fail the verification stage bc they are too eager to finish. All accounts to be merged have the same risk setup. You don't blow your account but you get kicked out of the program once you hit daily 5k loss, which is pretty much the same. I will also add that 5% in 4 days is great, but very aggressive. If we go to the minimal FTMO challenge that is marketed as a "$10K" account the daily loss limit is $500 and total loss limit is $1,000 and the fee they charge is Max daily drawdown resets at the end of each trading day, not every closed position or change in equity during a trade. I would just take my profit and stick it in my real account. com Exchange and Crypto. Uhum. I was so down. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. I thought I had finally passed my phase 1 Max loss was supposed to be 20k. You must have breached it while your trade was still open, but by the time you closed it, you were either back in profits or loss <5%. 1600$ 5. com Visa Card — the world’s most widely available crypto card, the Crypto. That's why, you still risk losing all your earned to them with this rule set by them. People say some weird things across the interwebs. Then if you lose to any of the parameters, you don't lose all of your money, only 5% or 10% of it. The Maximum Daily Loss is a rule that is beneficial to both FTMO and traders, because it clearly defines risk for the company and gives all traders plenty of room to trade with a reasonably adjusted risk. FTMO is legit, and I assume they have a lot of very successful traders. If you close $1k in losses, your max daily drawdown will reset at the end of the trading day to $2450 (5% of $49k). If traders could do this regularly, they would trade their own money and be among the richest people to ever live on planet earth. My daily hit 23k. To hit your 10 day minimum trading days litterally enter and exit 1 trade a day at like a $0. At FTMO, we understand that market conditions might vary and that’s why we offer our traders a generous 10% Maximum Loss buffer and 5% Maximum Daily Loss. I use almost all time frames, particularly the weekly, daily, 4hr, and 1hr. It doesn’t matter if you see a great setup once you lose get off the charts!! I had a day where I seen 4 trade opportunities my max allowed daily all risking . BUt you gotta be careful cos their server time is confusing for rollover and if you get caught in a drawdown it fucks you. 5k but had a larger than ideal draw down of 6k and FTMO triggered my max daily loss. Overall, I was still roughly 7% in profit. One thing I noticed is that they always tell you to contact them once you violate the challenge, but why is that? Is it because they recover accounts depending on the situation? For instance if you violate the daily loss by only 0. 5k before any daily reset and I haven’t even had the account open for more than 24 hours. I’ve passed 2 of these wretched challenges now and they suck. Thanks! As well as how many trade you take a day/week. Let's say you have a bad day and your closed and floating losses exceed $5k on a particular day. Sorry OP but that's a dumb question. Take that number and put it into a pip risk calculator along with the percentage or dollar amount you want to risk on a trade and it will give you the lot size you want to use. However, Max Daily Loss of $5k is always a constant threat. There’s rules For example the maximum daily loss is 5% of the account, if you violate that rule they disable the account and you gotta start all over again. Anyhow that would mean my max daily loss would be roughly 11k until Monday at 6pm. I have already paid the 10k challenge and not 50k (I previously paid a 50k challenge on which I was stopped while in gains for a matter of flotting daily loss pnl that I still dispute but that's not the issue now, I got stolen and that's why I'm doing this public assessment. Exclusive Recognition: Receive special badges and certificates for your accomplishment. And when j checked my email i was sad. Trade the trial FTMO and pass it 3 times in a row. You're not seeing what I'm getting at. 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. The only Trading Objectives we require you to respect are the Maximum Losses Rules (Maximum Daily Loss and Maximum Loss). But I saw an opportunity on Sunday night. Not trying to be negative or anything but you didn’t pass the challenge since you exceeded the daily loss limit which results in account termination. The single merged FTMO Account will then have a combined balance value as well as the drawdown limits (5% Maximum Daily Loss / 10% Maximum Loss). If you have good R, practice risk management, and understand the expectancy of your strategy, I don't see why/how you would hit the max loss cap. 10% a month amounts to about 314% per year, when compounded. The maximum daily loss resets at midnight daily and does include both open and closed positions. No Limits: No daily loss limit, giving you more trading flexibility. zxbfg btutig mjlrcfg dgjs xopg bvoelw lqcen qszoiv xxikc rwcs