Ftmo drawdown rules reddit. Another firm with fixed drawdown is 5ers.

Ftmo drawdown rules reddit The 2 main rules that I hear traders mess up on the most: *Floating* Maximum drawdown - FTMO not only counts closed positions into the drawdown rule but also open positions. 66R per day. As ftmo don't care about how much ir less you trade, you can choose: You can open more trades so that means you can risk 1% or less for each one, but no more than 4. Example: Max drawdown is 10%, you start a 100K account so you can only lose 10K total or you fail. One of the reasons why FTMO has gotten so popular is because of their drawdown policy. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. FTMO Account (Standard): Restrictions apply during specific news releases. 400$ 3. I'm by no means bragging, I'm simply stating that FTMO is worth it and anything worth doing is hard. No issues. 800$ 4. If you're not careful , you might lose the account because you broke a rule you forgot about. If a trader hits either limit, their account is closed, and they fail the challenge or verification. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. edit: Looks like he took his ball and ran off. I passed, focusing on my risk management, not profit. However, we have a maximum capital allocation limit when you are an FTMO Trader, which is $400,000 (prior to scaling) per trader or strategy, at any given time. (1% of risk per trade with 66% win rate) FTMO rules are far laxed compared to the firm I work for now but l manage a far bigger book and obtain bonuses and payouts. Your max drawdown always TRAILS the profit peak in real time, so now the max drawdown is $48,100. For the $100000 account, use the $10000 drawdown amount because once you lose that you are out. Deleted all his recent posts. Another part of FTMO is seeing if you can keep your account steady for 10 days. I can’t seem to follow my rules and I always just want to pass as fast as possible. This rule can also be called “trader’s daily stop-loss”. As I'm wrapping up with my FTMO challenge, one thing I would like to know but cannot find any information on is once you become an FTMO trader, what happens at your monthly profit split if your account is in a slight loss but you haven't breached any of the drawdown rules during that month? Say you end the month at $199,000 on a $200k account. The least number of days required for traders to successfully pass the FTMO trading challenge is 10 trading days while the maximum is 30 days. Customer Service SUPER fast and responsive. 2 = 50 you need 50 R to reach your target and you only have 30 days (without counting weekends) so 50/30 = 1. If you are as well, you have your FTMO app that shows your daily allowed drawdown. So to keep your risk relatively the same you need to cut your size by 10th so 2% becomes 0. Lowering your risk may help your emotional since 10 trades may not be enough for a drawdown period. There are others like TopStepFX and Fivers. Are you willing to let the drawdown all the way to 50% of your account? or perhaps only 30% before you close the trade? Lets say your tolerance is 30%. It goes without saying that risk management is the most important part of trading. See full list on ftmo. As a general rule, i risk 1% for each trade on my ftmo account, but i only do it when i have a significant buffer on my account (at least 5%). That number will be your risk. You place your first trade and the active trade is in profit $600. Are their drawdowns fixed? If not, any other prop firms with fixed drawdowns out there? Yes, fixed at 10%. Trade it like that is your account size. The profit target is 10% so 10/0. 1600$ 5. Dont blame anyone but yourself. I started looking at the Apex rules and saw this: Let's say you start the first day with $50,000 and the max you can lose is $2,500 or a low of $47,500. I got unlimited days to trade left. Real fuking hard. 3200$ OP keeps losing the challenge due to the 5% drawdown rule, so he now deems it unfair. You cannot open or close new trades (including pending orders) on affected instruments within 2 minutes before and after the news release. We do not place any limit on the number of accounts you can have in the FTMO Challenge and Verification stage. FTMO has a 10% maximum drawdown, this means that you would lose your account in simply 5 trades. I am not going to blow this account, I blew too many! I just can’t believe myself sometimes, when I am trading my mind just switches off. Then size the lots to risk 30% of your account every trade. Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. Also rules can change with time. Nov 9, 2024 · FTMO’s drawdown rule helps ensure traders manage risk properly. They've been around the longest, have the most experience, and it shows. There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. They are all the same with different rules, just whatever suits you best. 9% with all trades open Open 1-2 trades per time. MFF's drawdown limits are based on account equity as opposed to account balance. One week goes by and you've lost 8K and have made $0 profit. Although most traders think they are losing money in trading because of flaws in their trading strategy, the truth is that in most cases they are not using proper risk management. Do you lose your account? Im on my first month trading live after completing the challenge and evaluation, and this particular month wasn’t successful for me. ($50,600- $2,500 = $48,100). This is how FTMO currently works, where you lose your funded account if you ever lose 10% of your starting balance. Are there any other prop firms like ftmo besides mff? I don’t like mff due to the equity drawdown rules What happens if you finish your month trading on a drawdown of -2% ( which im currently at). You don't keep your full profit. Always payout, every time. This means if you are up 5% on a trade, move the stop loss to break even, and the trade comes back to stop you out at break even, you would have violated MFF's drawdown rules. So here I am, a fresh FTMO account sitting -490 (10k account) with another 500 to hit my max loss. Another firm with fixed drawdown is 5ers. But it is good for good traders with 0 capital (minus the $400-$600 you might have to pay 1-4+ times). . But once you have the funded account, there's no reason to take any risk that will blow your account. These are the sorts of people who can't be reasoned with. It includes both a Maximum Daily Loss (5% of the account balance) and a Maximum Drawdown (10% of the account balance). If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. com The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. The rule says that at any moment of the day [CE(S)T = Central European (Summer) Time], the result of all closed As long as you aren’t close to the max loss, you should get another day at least if you are able to get out before the daily drawdown is hit. Based on this info, you need to decide how much drawdown are you willing to risk on your personal account. Instead of a fixed equity level below your starting balance, you're I am getting ready for the challange myselfrisk managament for the rules is simple and you can risk more that 1% per trade. Well this is what happens when I don’t follow rules. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. . You can lose 10% on FTMO with 10% target, so you have to double your account. In this stage, the major rule is for the trader to meet the profit target which has been set in such a way that it is balanced with the drawdown that the company allows. Honestly for me its not worth all the rules they have, I’d rather just use my $7k+. However, they do have one drawback that may be a dealbreaker for many. So im doing a Ftmo challenge and im at phase 1 atm, in Two days I managed to rack up a 9,32% drawdown. You don't get his logic, because you apply the same rules to a private account. We call these rules Trading Objectives. Holding existing trades is allowed. When considering your risk you need to use the maximum drawdown amount, not the total account size. In this article, we will cover everything you need to […] 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. You got greedy. So if you are up 30k TODAY you can drawdown FTMO is awesome. Relative Drawdown is more complicated, and more beneficial for the firm. That's about as far as his "logic" went. First time i perform this bad. No "silly discounts". The maximum daily loss resets at midnight daily and does include both open and closed positions. I guess I have to learn the hard way. FTMO 's rules on news trading: Challenge and Verification: Trade freely during any news release. and didnt limit losses. No "gotcha" moments or stupid fine print rules. According to our rules, this is set as 5% (10% in case of an Aggressive version) from the initial account balance. Your daily drawdown got reset and you didnt think about it. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. 2%. You will never have worry about a "MyForexFunds" moment w/ FTMO. -Cons: You have trading rules to follow, depending on the firm: trading close to news events, DD on open positions, instruments, risk, EAs, copy trading. The drawdown will be tracked much more accurately on your eval and paid account. No funky gimmicks. FTMO is practically the most popular now, but I don't know if they use trailing drawdowns and it doesn't really say in their website. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. FTMO's 70/30. Im currently doing the challenge myself. bsf xtxfs lnimj qzoq dumrdek osagdq krps nxhvagm hpmjx jbyhq