i was also concerned/curious to work this out (i made it just over 12 per day, average?) and wondered about your working hours, etc. …
agreed … and good and better luck for next week!
i was also concerned/curious to work this out (i made it just over 12 per day, average?) and wondered about your working hours, etc. …
agreed … and good and better luck for next week!
Right. @alphahavoc Take a walk, take a breather. Go scream in the shower…whatever you gotta do. Get that stress out. Do some breathing exercises.
Then take this weekend to review what went wrong. My suggestion is look at what you SHOULD have done, and make a list.
I’m pretty sure you 're gonna see some reasons repeat more than others. Be objective and honest with yourself about what went wrong.
Perhaps even try practicing the same trades again, and see how your brain reacts.
Use this experience to your advantage. These errors are showing you what doesn’t work. These errors are trying to light a path for you!!
What did you do!!!
Just took another look at your FTMO Acc Metrix and…you hit a max DD today of $10000 - and in just a few minutes??? Am I seeing this right?
What happened? Did you take a “make or break” position?
I really hope I am reading this wrong (I am not overly familiar with these charts!!) but if so, then you are now only a few thousands away from losing the account? What happened? Really hard to climb back from this level, I think
I took a look also, just now. It looks like you started off great in September. Then September 29th rolled around and it started going downhill. That seems psychological.
That’s great news though!! That means you already HAVE the ability to trade well. You started off well. Something happened along the way that got you off your game.
I didn’t realize how well you were doing. You’re A LOT closer to passing than you realize.
I hope I’m reading that page correctly. Because if I am, you’re doing very well, but had some trouble once September 29 came.
As I see it, he has dropped around $11 000 in one trade today? (trades 191-192). Am I reading this wrong? I really hope so!
yes, this is not in question!
i haven’t done one of these things myself, but it’s worse than that, I think, for this round? if the daily loss limit is exceeded, the account is gone, surely? i’m so terribly sorry to see it …
i think perhaps from trading the US non-farm (employment) news with a big position-size?
I want to apologize to everyone for my actions during the first few minutes of the NFP event tonight. In the heat of the moment, I panicked and made a terrible mistake. I immediately came clean with my wife, and I’ve been receiving an earful from her throughout the evening. Despite this, I’ve been given another chance to trade, but only after I receive my December bonus salary. Right now, I’m completely wiped out financially.
I had already set aside my essential monthly expenses for October, leaving me with only $300 in my savings account until my next payday on October 25th. I know many of you were rooting for me, and I’m truly sorry to disappoint everyone.
Currently, I’m on home leave due to a fractured fibula and will be returning to work on October 13, 2023. It’s disheartening to admit that even though I had about two months to focus on the FTMO trading challenge without the burden of heavy workloads, I still couldn’t pass the challenge.
Upon reflection, it seems that whenever I start performing poorly, my trading amost always spiral downhill, and I rarely manage to step away and regain my composure before making rational trading decisions. I believe I have certain inherent personality flaws that I need to address.
Tonight’s experience has been extremely painful and traumatic. I felt like crying, but there were no tears.
I have understood that the daily loss is “only” a protective measure where trading is banned for the rest of that day if the level is exceeded? Trading can resume the next day? The account is actually gone permanently when the 20,000 limit is broken. In this case, I think there is still a margin of 5000 left?
Bro, you’re not the only one. A lot of us have felt the same way. But we’re still trading. This is your time to build staying power. Yeah, you failed. Fine. But wouldn’t it be a great story to tell that you encountered numerous challenges and eventually succeeded?
You’ll be so proud of yourself, and your family will be proud of you, too.
One step back, two steps forward!
By the way, you can still make the best of what you have. You haven’t exceeded the maximum loss yet, right?
I’m afraid that’s not quite accurate. The $20,000 limit is a monthly trading restriction, not a daily one. Unfortunately, I exceeded the daily maximum loss limit of $10,000, which led to my termination, even though there was still a remaining margin of $5,000.
not my understanding, at all - these things can change sometimes, though - i may be wrong
not needed, here! we are on your side, whatever happened (as i’m sure your family are)
that’s another matter - we’ll be rooting for you next time, anyway!
i’m sorry you’re going through so much, at the moment - warm regards and very best wishes from your forum friends!!
One more point to add…
Try a ¨glass half full¨ perspective. You had a long period where you were doing well!
previous challenge
current challenge
Do you not see the difference? You have WAAAAAY less drawdown.
This is a MAJOR improvement. ANY sign of improvement should leave you excited!
You’re not looking at the positive side. Bro, you should be hyped up to keep trading!
You’re not getting the results you want, but look at your improvement!
I think we will have to have a serious BP team member meeting to decide what to do with you!!!
Seriously, though, you do indeed seem to have an impetuous side to your character that does need to be “exorcised” before you can become a consistently profitable trader which is your deeply embedded ambition - you know it, and you can do it!
I feel that your attention is too easily focused on the current trade and you forget all about protecting your account equity. Imagine - you took this huge risk on a Friday after NFP and now you have to dwell on it all weekend! What does that do to your psychological well-being?
We were only recently talking with @dushimes about that old tortoise and hare fable - I think it also applies to you! As you know, in trading: “more is less and fast is slow”!
You are not out yet and you will get there. Just think: you took 2-3 weeks carefully and consistently building you account (as @dushimes also pointed out) … and then you blew all away in one trade last one minute!
You have to kill that instinct because otherwise it will always repeatably come back and undo all you work. In your health-care job, you are a serious professional doing important, responsible work - now find the same responsible professionalism in your trading.
Consider yourself scolded good and proper!
5ers also have a daily max DD (in addition to an acc max DD) which is to protect the account but does not kill the account, it just stops trading for the rest of that day.
Is not the daily max DD here $10000 and the absolute DD $20000?
Absolutely true. Rushing will only make the journey take longer. It sucks. When applying pressure on yourself, I think it should come in the form of increased discipline, not increased position size. If you must wait, then you wait.
Other traders have said that your trading is developing once it starts to become boring. haha
No, with FTMO, it is considered a violation of the trading objectives.
I made an attempt to ask FTMO representatives
My query :
“I currently have an FTMO challenge account with the ID 2091304863, and I have just exceeded the daily maximum loss limit. However, I still have approximately $5000 in margin available. Is it possible for me to continue the challenge, or could FTMO consider making an exception for me this time round?”
FTMO replied :
“After verification, it indeed appears that your FTMO Challenge 2091304863 has been violated. Unfortunately, for this reason, this particular account cannot qualify any longer to advance into an FTMO Account, and it lost its eligibility for a refund of the initial fee paid.”
Ok thanks for the info! Rather confusingly put when it calls it a daily limit and you are still above the -20000 DD. With 5ers it is a daily pause and not a violation. Maybe next time it will be worth looking around a bit.
Sorry to hear that it is closed! But put it down to hard knock schooling and move forwards.
In trading it is a strange thing, whenever one takes a do-or-die trade it always seems to fail!
It is scary how weeks of gains can be erased in a day.
This underscores the extreme importance of knowing when to stay in the trade, and when to quit. This practice is a trading edge in itself.
@alphahavoc, am sorry to see the direction your challenge went. You will spring back better from this experience.
Looking good! Be calm and stay strong!