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