But if you risk 0.5% per trade, leave it 2-3 weeks open and only win 0.25% if lucky is not a successful approach also. Plently of factors to consider (no longer go all or nothing in trading just saying…)
I have a strategy that requires a small stop-loss (20-40 pips, but most likely 20+ pips + spread) , but reward is small aswell (20+ net pips), and let’s say you pass on demo but on real you never know if you’ryou’re targeted for that. Just hypotheses.
I’m planning very carefully my enter anyway, but still afraid of stop-loss hunting hope is not the case
Not to say about spread alone that sometimes goes as far as 20-30 pips which is a lose game by itself
u can t leave the trade open for 2 much, cos if u do and some news event that s restricted comes along and hits ur TP or SL ur challenge is over. u can t swing trade.
wait for @tradeforex077 to do this challenge, see how he does and get some imputs etc… don t rush into things unprepared. backtest, that s the answer to ur fear of stop hunts, backtest, cos it means u still don t have enough confidence in ur trading aproach. u can t put the trade on and sweat like crazy while price wiggles around.
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You are not allowed to specifically trade the news, if you are not trading the news but your trade happens to still be opened after 3 days and the news happens to appear thwt shouldn’t be a problem.
read their rules again, u have news that u can trade or have positions open, and u have news events that they have labeled as restricted. during those restricted news events, if ur stop or TP gets hit under that 2m window from before and after the news, ur challenge is terminated. ex natural gas event that isn t that high impact but for them is restricted. be 100% sure u understood the rules and the objectives etc and that u have a game plan before u put any money down. money doesn t grow on trees and apart from that it will kill ur mood, passion, grove, drive for trading.
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If what you say is true I would have had a really great surprise (going unprepared to challenge thinking like an idiot I know all now…)
Great to have other traders here
don t take my word for granted or no1s for that matter, due ur own due dilingence, on their site, u can find answers to most of ur questions etc.
I can see money doesn t grow in trees here. Most tend to think the opposite. But when you look at a successful trade, every dollar matters. You need to bring value, quality, when you make profits you know what yiu are doing these money are as real as money from any other business. But this is one of the strangest business out there. Really really different from others. No wonder no one understands (I don’t even claim I understand). Someone said people evolved earning their existence from hunting (primitives) to pressing some clicks… (trading). This by itself makes you question a lot. A very tough game.
@1odi I don’t you if you watched Saw… but from what I see trading is almost the same… it almost looks alike. It’s just that there is no blood. Same tricks, same psychological pressure, same everything and almost (+90% - 99.99%) everyone dies…
u gonna lose trades, i don t care who u are or what inside information u have and whatever… every1 has losses. how u deal with those losses and how much u win vs how much u lose will make the difference. teach urself to be calm, and to always think about the long term. when i have a losing trade i say to myself that it s ok, it s about the next 100 or 1000 trades and so on…not trying to hit homeruns on every trade. learn that and u ll be 1step closer to reaching ur goals.
I’ve seen this aswell. there are YouTube videos of people trying the challenge months ago and no videos since. Guess they failed but no video to say what happened. But I completely agree the risk management rules are great to help beginners. Otherwise most people revenge trade or force trades or over leverage and blow their account. This way max daily 5% is the limit.
What account did you go for?
Yeah,
- do the demo trial.
- Use the metrics on the client area and keep an eye on it all the time whilst in trades and before you open.
- Learn the rules of max limits daily and overall or print out and put it in front of you.
- Manage your risk, lower your % risk so you dont hit their limits.
- Know when news events are being released as per their rules
Forget the target. You have 30 days to hit it so dont need to rush it. Trade how you would your personal account. People who hit the targets quickly by mismanaging risk dont stay around long. So dont pick up bad habits.
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Opting for 25.000$ account. So swing trading is not allowed due to news events?
Edit: How big your stop losses arefor this challenge? Tell a range
Swing trading is allowed but new trades can not be opened or closed 2 minutes before or after the news events that they label as restricted. Also must be closed over the weekend but the rules are different for challenge compared to when you are funded. I’m trading the rules when you are funded. But I’m a day trader so I dont hold trades overnight/weekends anyway. My stop loss range is 10-50 pips depending on instrument I trade.
Hi everyone,
I’ve signed up to FTMO step 1 challenge account. I decided to go for the broker Purple Trading stp account and the leverage is 1:100. The account is a demo account and the platform is MT4. I went for a 100k normal account and the upfront cost to do the challenge is €540.
There are other funded accounts you can apply for: 10k, 25k, 50k and 100k. The cheapest is 10k €155.
The upfront cost is a one off but it states that you’ll get it refunded the first time you withdraw profit. If you get a funded account then you get 70% of your monthly profit with the other 30% going to FTMO. But first you have to complete a step 1 challenge and then step 2 verification.
I’ve attached the dashboard screen below. You can see that your challenge begins after you put in the first trade which is really helpful so you dont feel forced to start trading.
Importantly, I’ve read and am keeping an eye on the objectives(see below). Also I’ve had a look at the economic calendar to make sure there aren’t any restricted news events on today that will affect the pairs I am trading. Lol, it’s quite funny because the fact that it says challenge makes it sound more important and I felt a little nervous when i saw the dashboard! 
4th step: Step 1 challenge: start trading!
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Good luck if I can tell you anything is do not EVER break risk management and target rules. You can look at me I reached their target in 2 days and still failed. You can even see my post on this. I hope pass it. I will join soon but need to wait to organise my strategy
Also keep an eye on DAILY MAXIMUM LIMIT LOSSES ALLOWED not only OVERALL. It applies for floating losses also not only realised. This killed me.
If you don’t reach their target I know you know tbis aswell but just to make sure because I knew this aswell, DO NOT RUSH TO MAKE 10%. As long as you are in green at the end of the challenge you will get for free another one.
This rules are UNDENIABLE. Even if you pass by luck by risking much you still have the verification process better stick with risk management
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Thanks for creating this thread. After my bad experiences with funding programs FTMO seemed different. I trade too slow for pretty much all standard funding programs.