Ftmo daily loss reddit. I would just take my profit and stick it in my real account. i think ftmo has better spreads, i like mff due to being bias as my first prop firm. Someone could easily drop their full 100k account if this was allowed. Passed my target profit but then realized I was slightly over when it came to daily loss. 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. 32) and a very high success rate (88. 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. 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. So in my case, I reached a draw down exceeding 5%, but never an Find your trade. I had 13k in drawdown and about 6k in losses. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. 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. And when j checked my email i was sad. Example: Max drawdown is 10%, you start a 100K account so you can only lose 10K total or you fail. 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. So I stoped because I didn't want to break any my max daily loss. I explained my case, and even took the so called loss which did not equal what I was supposed to be losing. No Limits: No daily loss limit, giving you more trading flexibility. 5k but had a larger than ideal draw down of 6k and FTMO triggered my max daily loss. 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. So its essentially daily watermark. 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. 53. The max daily loss moves based on the result of all closed positions and open positions. 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. Edit: Thanks for the clarification everyone. I am glad to know that you WILL NOT lose the account. Sorry OP but that's a dumb question. 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. Daily loss was 10k. FTMO really doesn't like it when you risk a lot. The Maximum Daily Loss rule may seem strict to some traders, but it makes sense. 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 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. The FTMO Account is not in drawdown. Let's say you have a bad day and your closed and floating losses exceed $5k on a particular day. It's a 200k account with a 5% max daily loss. ) Adding to positions to balance out the cost, ended up biting me. Does anyone know if this happen to them or if FTMO can do something to fix it. If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. Stop paying for challenges if you're consistently failing. If you start the day by making 500, then you lose 500, your current loss is 0, not -500. My daily hit 23k. For the "Max Daily Loss", it says i went down to -£1093. I went to took a nap and before that i checked my account matrix and it said my max daily loss was 1,600. I thought I had finally passed my phase 1 Max loss was supposed to be 20k. 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. Don’t count on it being ignored once you’re live. The only Trading Objectives we require you to respect are the Maximum Losses Rules (Maximum Daily Loss and Maximum Loss). Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. If your open trades reach $51k, your new daily loss limit is $3,500 as long as these trades stay open, this is your daily loss limit until a trade closes and a new trading day has begun. What does this mean? I already got the message saying my daily loss has been breached and to email FTMO. 3200$ If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. 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. "At FTMO - daily draw downs are equal to losses. 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. 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. People drive me crazy. I use the weekly and daily especially for perspective, and execute off the 1hr (and sometimes 4hr). These conditions are in a ratio of 1:1 (loss to profit), which is the top industry standard. 80 after all the trades hit my stop losses. Our FTMO Challenge is the first step of our Evaluation Process. I believe the secret to these prop firms is using a really small % lot size once you get a live account(s). 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. I’ve passed 2 of these wretched challenges now and they suck. I will also add that 5% in 4 days is great, but very aggressive. You're not seeing what I'm getting at. I have reported the issue to the support team , I now await the response. 13 votes, 19 comments. We have now been describing different kinds of drawdowns, however, at FTMO we use different terms which are more favourable for the trader. If you are as well, you have your FTMO app that shows your daily allowed drawdown. I was in profit 6. Dream Job Opportunity: Potentially qualify for a prop trading job assessment with FTMO's partner firm, Quantlane. Just got the express account and it is hard with the parameters 1000 daily loss limit on futures and a 2000 max drawdown . 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. At 50 lots ($500/pip) minus the spread, an 18 pip move against you would lose you the account. Many people who pass the testing phase fail the verification stage bc they are too eager to finish. If traders could do this regularly, they would trade their own money and be among the richest people to ever live on planet earth. 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%. Unlike the first trader, in this case there was no problem with the loss limits, neither the Maximum Loss nor the Maximum Daily Loss. Don’t be overconfident. But it is important to remember that 4% max loss means you will have to be very strict to maintain your account. 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. This way, if you have a consistent strategy, you won’t lose the account. Floating P&L should not breach the daily loss limit. Uhum. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. To my recollection, i can never remember this happening, nor remotely close. If you go -3000 then +10000 then -5000 your max daily loss will show as -3000. . Thanks! As well as how many trade you take a day/week. (I’ve found this is about 50/50) I ended up almost hitting my max daily loss and closed everything out. Thanks for the advice you guys. com DeFi Wallet. One week goes by and you've lost 8K and have made $0 profit. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. com Visa Card — the world’s most widely available crypto card, the Crypto. 89%). Where you can really hit the gas is if you trade conservatively into profits one day, let's say 20k in profits. i like that maximum drawdown is 12 percent on mff and cheaper too. Things happen with traders we hv to train our brain muscle. You don't blow your account but you get kicked out of the program once you hit daily 5k loss, which is pretty much the same. Reward. Overall, I was still roughly 7% in profit. 5%) 1 trade grew my account 8% ( my goal was 2% daily. Next day i violate daily loss ljmit by 33$. Sure you get 100k in literal balance but the challenge is basically trading with 5k worth of reliable balance. That money could have been better in a personal account where you aim to make 10%. BUt you gotta be careful cos their server time is confusing for rollover and if you get caught in a drawdown it fucks you. 400$ 3. 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. I felt cheated and disappointed. 1600$ 5. 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. Prior to that mess I was 800 shy of the goal. The maximum daily loss resets at midnight daily and does include both open and closed positions. This morning I traded usd gpb for 3. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. Crypto. I usually risk 1% per trade so if I had 2 bad trades I would be out. 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. The account growth possible here is fairly enticing. Pick a stop loss, calculate how many pips from your entry to your chosen stop loss price. I use almost all time frames, particularly the weekly, daily, 4hr, and 1hr. For example, at $50k the daily loss limit is $2,500. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. Step 1 – FTMO Challenge. 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. Set a limit of how much your willing to lose and stop when you lose it. 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%. Your maximum daily loss takes into account your daily profit. All accounts to be merged have the same risk setup. 10% a month amounts to about 314% per year, when compounded. So I was $114 away from losing my account so I waited for the new day so my daily loss would reset. That's why, you still risk losing all your earned to them with this rule set by them. If you close $1k in losses, your max daily drawdown will reset at the end of the trading day to $2450 (5% of $49k). com serves over 80 million customers today, with the world’s fastest growing crypto app, along with the Crypto. com Exchange and Crypto. 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. com is the best place to buy, sell, and pay with crypto. You can max out your margin if you stay within the 500€ daily loss and overall 1000€ loss limit. 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. They will believe anything to get rich quick. The Max Loss is not a current threat since you're sitting well clear of $90k. The first trade went at most 150$ into drawdown. The max daily loss is the thing you need to watch out for. Then if you lose to any of the parameters, you don't lose all of your money, only 5% or 10% of it. But I saw an opportunity on Sunday night. FTMO is legit, and I assume they have a lot of very successful traders. 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. 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. Exclusive Recognition: Receive special badges and certificates for your accomplishment. People say some weird things across the interwebs. Plus the scaling aspect, even a $10k ftmo account can eventually scale to $2M account. It doesn’t matter if you see a great setup once you lose get off the charts!! I had a day where I seen 4 trade opportunities my max allowed daily all risking . One thing I have noticed with these FTMO challenges though, is to at least try to get out before you reach the max daily loss. Even if you trade with fictitious funds in a demo environment, you can receive a reward for your performance. I’ve passed before but your right about the daily loss. This trader was also able to rely on a strong combination of a good RRR (1. The single merged FTMO Account will then have a combined balance value as well as the drawdown limits (5% Maximum Daily Loss / 10% Maximum Loss). Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. I had 50$ profit previous day which i forgot. My challenge ends tomorrow. I think the maximum loss i went to was -£300 from closed profits, and -£500 from floating loss, which even that totals to -£800. 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. I was doing about 1% a day. *Floating* Maximum drawdown - FTMO not only counts closed positions into the drawdown rule but also open positions. 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. 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. 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. 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. I put my trade on November 1 but it toke it out and saying that I failed the 5000 daily loss. 5k before any daily reset and I haven’t even had the account open for more than 24 hours. If one is a profitable trader, I see it as a way to supplement. Trade the trial FTMO and pass it 3 times in a row. 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. Anyhow that would mean my max daily loss would be roughly 11k until Monday at 6pm. All accounts to be merged are in the same base currency. 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. to be fair, ok over-leveraging. I was so down. There is no profit due for your Profit Split. Didnt check my daily loss limit. 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. in reality people will say ftmo is superior, i think u dont have to leave ftmo and can have both of them at once. ( 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. 50 loss or slight win. Im currently doing the challenge myself. I was still good but i took last small trade trying to use those 50$ left in my limit. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. 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. To hit your 10 day minimum trading days litterally enter and exit 1 trade a day at like a $0. The real question is do YOU have a consistent and profitable method? That is the real question. 5 days of 200 or more for payout at 50% and 30 days for 100% they defo made it harder to scale a 50k combine Not an exact answer re:FTMO, but 4-6 losses in a row isn't that uncommon as long as you have a really good R on your trades. The max daily loss and daily loss remain in effect in the verification. This literally happened to me last night, I saw that I got my 10% when I check FTMO it said that I exceeded my daily lose By like 500 bucks. 800$ 4. 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. 5k is the max daily loss and 5% of the 100k is the max you can lose. 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. You can lose 10% on FTMO with 10% target, so you have to double your account. Maximum Daily Loss and Maximum Loss. You now have 30k as a buffer against the max daily loss limits and 40k against the max loss. I’m not sure how this is possible. 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. However, Max Daily Loss of $5k is always a constant threat. 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. lgtlhlfsxxbfopuxmqagjztqvitfqnvtzzuzyumztbzabmsqly
