Failed ftmo challenge reddit.
Please explain it like I’m five.
Failed ftmo challenge reddit Please dont get me wrong as I have a very limited knowledge about profits etc. I did the challenge myself. 90 while the site was performing maintenance causing me to owe more than my stop loss. 80 to satisfy those rigorous parameters. Later I took a second challenge and I was in the same position, $320 from finishing the first phase. 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. So basically, in once instance my time was running out as the challenge was coming to an end, and I was only 2% in drawdown. It was my first challenge and I couldn’t believe it was actually happening. For example, I bought at 1. Without the weekends, you’ll get 20 trading days. 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. ” So you could do news if you wanted to just to pass the challenge and get your funded account but then going forward you I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. 22 votes, 24 comments. I have gotten funded three times with FTMO before but this is the longest it took for me to pass the challenge this time around. -ftmo's business model is based on the failed challenge fees. I feel the challenge is more of a puzzle. This caused me to fail the challenge. I felt cheated and disappointed. They kept saying I had to wait till the 10 days are over and then i could reach the 10%. Dont beat yourself up, this isn't easy. which is more than enough to pay out the traders that do make money (90%+ loose) -the really great traders with good rm and consistency over a longer term basis get copy traded onto a larger live account. You'll keep failing. 8 - Win rate of 55-60%. If you can pass the ftmo challenge, that means you can double your capital in a month without the restrictions of ftmo. I took a 2. 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 There's an interview with FTMO CEO where he mentions 94%trader fail the challenge. Only 8% of all challenge takers pass. Prior to that mess I was 800 shy of the goal. 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. 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 price gapped down to 0. My problem with ftmo is I see many people passing the challenge but never see them post again. MyForexFunds is a prop firm out of Canada with similar challenge parameters as FTMO. Thats why Im asking if you had expierence with this. - Each challenge was done separately, months between one and another. Passed Phase 1 and 2 with a different Prop Firm and blew funded acct in 3 days. It feels like a long time ago, but it was only last year. I got upset that I closed the trade too early because I would have passed my ftmo challenge in that trade. From your comment all I can recommend is reduce your lot size and demo trade for several months. I think that the FTMO trading is a good opportunity for traders to get good returns for a small amount. And if you get lucky and you pass, you won't hold the account for long. As you can see I got pretty close to the max daily loss. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Since then, Ive passed and failed additional challenges, sometimes on Phase 1, sometimes on Phase 2. 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? I have tried the FTMO challenge a few days and got a very bad and unfair experience. That was a low moment for me. So for example, take the FTMO challenge, you’ll need to pass the 10% target. 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. My daily hit 23k. I have passed the initial challenge and I am currently trying for the verification phase. Get the Reddit app Scan this QR code to download the app now. You didn’t mention anything about your backtesting. If you are extremely disciplined go for it. 😀 The answer is revenge trading. I love practicing with these challenges. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. Or check it out in the app stores FTMO 10k challenge - 25% profit but failed cause of 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. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the So to them, it is a completely risk free business. 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! I failed the FTMO challenge because my stop loss was not triggered due to FTMO site maintenance. I had 13k in drawdown and about 6k in losses. I blew two of them after just one payout from each, and one of them I couldn't make a profit before losing it eventually. 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. I would say go for it but you won't make life changing money because of how strict their rules are. I submitted a claim. If they fail, you are still out FTMO's challenge fee. true. I quickly learned that I have to have RR sitting at . After 3+ months of profitable trading you can then test your ability for free with the 2-week FTMO challenge account. Hey guys, I am currently doing an FTMO Challenge. 70-. I quickly learned that wasn't the case with a prop firms 5% daily DD. . My challenge ends tomorrow. Daily loss was 10k. This free challenge account is the closest thing to a real account. 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. If they pass, you pay. Overall, I was still roughly 7% in profit. I’m not saying its not hard. There is a reason why phase 2 have longer time to pass and less profit target to achieve, because the company knows lots of people get lucky on the phase 1 and they want to challenge trader’s consistency. 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. i’ve been reading posts and comments about FTMO’s challenge of 10% for 30days is ridiculously high. Looking through the trades since I triggered the challenge to start. It requires patience, time and discipline. Just a curiousity of mine. I have been trading since 2020… Welcome to FXGears. 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. 10 and put a stop at 1. I failed my first 5ers challenge with poor risk management because my strategy works for my personal accounts. I have a Myforexfunds live account and have recently failed phase 2 of another challenge. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. So I decided to try an ftmo 10k challenge. Same thing happened with my first ftmo challenge, I was £700 in profit. Regarding account management, MyForexFunds put out some interesting statistics about their traders a couple of months ago. Take your time, bad losing streaks happen to everybody. 00 lot trade and that started the losing streak. 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%. Max loss was supposed to be 20k. You should do the free ftmo challenge, they give you 14 days to get 5%. I could see I was trading in a emotional state and felt very isolated. Rish management is key, and you should aim for minimum 1:3 RR and risking no more than 1% of your account. I cut my lot size in half to finish. Stop taking ftmo challenge. However, if you can do that, then you are in the game. Makes me think people blow their accounts after passing. It has a free trial that’s quite tough if you ask me. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. I can demo trade just fine, I passed 3 ftmo trials one after the other. So today I failed my FTMO challenge. Tiny risk and good mindset is the way to win. One thing you should know before taking this challenge is that FTMO requires steady traders. This helped me a lot to reduce the stress of passing. 00. Most people only lose the challenge because of too much risk and therefore the mindset takes a hit. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". I failed 2 FTMO challenges before they introduced the no-time limits. 1%-3% max but I think 0. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Deposit the challenge fee into a brokerage account and trade it away. 5-1. Please explain it like I’m five. I explained my case, and even took the so called loss which did not equal what I was supposed to be losing. qnilbneqfvqduqwxdiahxpkntbqhnjmxkfoawquocoxcatgpfs