WATCH THIS EVERYDAY AND CHANGE YOUR LIFE
Denzel Washington Motivational Speech 2020
FTMO Challenge expertise
*** This season answers expert risk manager with experience in large international companies, Chief Dealer and VP Risk Manager ***
At first glance, it seems illogical - a huge company with a million users promises to give anyone who passes their challenge $100,000 to leveraged trading at their own expense, provided they pass the test. The test is to reach a target of 10% profit within a month which is, in my opinion, not that difficult. The more challenging aspects are that you must not lose 5% during a trading day even "on paper". In addition, there are several restrictions on holding a trading position during important events.
Sharing information has never been easier which has led to hyper passionate opinion battles over every subject imaginable. FTMO is no different. Whether it is customer reactions , passionate bloggers, and knowledgeable experts to judgements based on pure fantasy and angry rants, FTMO requires more investigation to understand the essential value proposition.
In that spirit, decided to challenge the FTMO Challenge
After I opened a TRIAL account, it took me several weeks to adapt existing trading robots to the challenge conditions, optimized and set in motion.
A few days ago, my friend working on it manually and he has already successfully passed step one.
Step B was even easier and passed in 3 days leaving the rest of the days open minimum trades to reach a minimum of 10 trading days.
All this was accompanied by daily monitoring and waiting periods between stages, we had developed a sequence of rules for manual intervention in our beloved robot, every movement of a market registered like a heartbeat in my friend on: to see our correspondence is to cry and laugh.
He arrived at the money stage with great enthusiasm (a common mistake of youth)I have little doubt he has already put a down payment on a new motorcycle. With his mind on counting his eggs before they hatch, he makes a mistake of $26 beyond the allowed STOP LOSS and loses a real trading account in a minute – no eggs, no motorcycle
I tried to encourage him with stories of a good friend of mine who coaches a Thai boxing team When his young student won a gold medal in a world competition at the age of 14 he flew to such a high-ranking, the coach had to bring him down to earth to keep training and rising. He had the boy train with a 17-year-old champion who was ordered to dismantle him.
As painful as it was, it helped and put it in proportion for the boy who thanked his coach later. This is how I explained to my friend: You got a free lesson from above so you could reset and start working systematically, step by step without short-cuts.
Today he went back and went through two more FTMO challenges
And I continue to research, enclosing recent results we have achieved in challenges
After several months of experience I can say that going through all the stages and holding profits over time with such risk definitions is really not trivial.
Part of my job is to investigate "trading thieves" or "arbitrators" who try to use system hacks to trade at prices that were not on the market at the moment, for example DELAY in the trading system sometimes from a system load or a problem on the supplier side, when trading ECN And if there was a technical problem the command simply does not pass, but when trading with a broker or in the case of FTMO in 4 MT that is connected to the broker the transaction may also pass at an "illegal" price. This is what Arbitrage Trading looks like - 0 risk 100% success
Then send a generous reply:
"Upon checking your Challenge, we have found severe liquidity issues with your account.
Please be informed that the trader is responsible to respect real market liquidity, otherwise, your profits on your account cannot be considered. For that reason, your current Challenge did not pass the review, as your results are not replicable in a live trading environment. You can read more about this in our T&C point 5: https://ftmo.com/en/terms-conditions/
However, we would like to offer you a fresh repeat of the Challenge. Nevertheless, we kindly ask you to adjust your trading to be in accordance with the real market https://ftmo.com/en/trading-according-to-the-real-market/
Please let me know if you agree with this solution."
There are a number of robots on the market that sell this service that is not worth anything in the end - please be warned!
There are like red lights that I am still researching, one of them is finding quotes outside the market during closing hours of trading in the new FTMO system, I cannot say 100% but it seems to be manipulating quotes to add volatility and accordingly DRAW DOWN of clients with open positions.
Another point - good trading conditions at the level of too good to be true with upward price deviation
In the 3rd and final phase of the CHALLENGE there are restrictions on closing deals for the weekend
Also, do not trade in the data in the table
I have opened a closed group of professional traders and I add data and ideas every day
From my experience 15 years ago when we worked at the company PROP TRADING in my opinion the best in the world with 3.5% trading cycles on NASDAQ can say that FTMO does not look like them, the more popular and most annoying concept is that a truly talented and hardworking trader goes through all 3 steps, gets A real account, earns another month or two
One mistake on one clear day = start from scratch
There is no job without mistakes especially in our field, why do they throw such a person at competitors? A point to consider...
In Prop Trading Firm where we worked for about 5 years you lost, passed the allowed eyebrows, go rest, come tomorrow, that's how professionals are raised.
What is Prop Trading?
At the time we called it NOSTRO TRADIG which means trading on money of an investment company, their risk, profits are shared with the traders.
How It Works?
To be accepted to Prop-Trading we had to go through interesting ideas and commit to work without a base salary, only about a percentage after passing the GRADUATION phase, it took 3-6 months to get money and it was a lucrative job, I as a student bought my first car for one salary, the best bought apartments before Age 30. Starting to work from scratch and constantly rising.
In FTMO it is possible to trade with M10 $ BUYNG POWER after two months of meeting the 3 challenges
Is there a chance to win?
Considering it is not simple, but possible, the problem is to persevere in risk management over time, it is easy to say difficult to perform.
Is not this a SCAM?
Given the size of the company and the lack of serious negative reactions I found no reason not to try them
Are there robots that pass the challenge?
There are many pikes in the market, it is better to develop your system or trade manually so that control is in your hands.
This is what it looks like when you pass successfully -->