Think of your wealth as a bucket. You need to do two things: --Plug the leaks that are draining your account (personal finance, budgeting, etc) --Find new and better ways to fill it (trading, investing, etc)\t
Constructive feedback or questions are always welcomed.
In regards too the gambling rule, instead of risking 4% on the trade what about if a trader set multiple limit order risking 1% but with 4 limits would this still be a breach of their gambling rules
Even if allowed, why would you want to risk your entire account on one idea? You get slipped a little and you can easily hit your 5% max daily limit. FTMO has been tightening up the risk - you prob don't want to have more than 1% of open risk at any one time.
Can you suggest me what should i do and which acc should i choose i am an international student in canada and need al least of 3000$ per month in withdrawal what can i do? i want your assistance❤
Hi Rolex. It's not very hard making $3k/month - that's only 1% on 300k funded - but I'd caution you that this is 10 steps down the road. Do you have a system that you've backtested 500 or 1,000 times? Have you forward tested it? Do you know how to calculate prop risk size? I wouldn't use your student living expense loans to buy prop accounts - obviously make sure your rent, food, books etc are paid. You may need to get a night and weekend job to save up enough for a few challenges. Only risk 20% of your free money on any one challenge instead of going all in on the biggest one you can afford. After passing - don't use the $3,000 for living expenses - you need to have a cushion to buy more challenges and save money to have enough to buy more challenges when you inevitably lose your funded accounts. Your goal should be to get at least $1MM in funding. Then you'll have plenty for $3k/month living and have extra money to save/invest etc. $3k is an acheivable goal - but expect it to take at least 12 months of you backtesting, etc instead of going out with your friends. Watch my essential playlist ru-vid.com/group/PLa6XDmoqdrjGjY9GHP3FOTbzyM6kSfkCx and then my prop firm playlist: ru-vid.com/group/PLa6XDmoqdrjFdEedzI9JfQmqR97oZMzMv As a side note, when you start making real money - don't waste it on a Rolex, designer clothes and other marketing things that have no value.
Hi Kevin , I hope you are doing well , I tried FTMO's 100k Free-Trial. I had a trade in floating profit at +$100 on October 23rd at 11:58 p.m., then on October 24th at 00:03 a.m. (right after the daily reset) this trade closed at Breakeven. However, in my metrix FTMO account it showed me that today I could afford to lose another $5000 and not $4900 as you explained to me....
Interesting. Was it midnight your local time or the server time? I'd assume the free trail has the same rules as the challenge, but maybe they don't factor in carried over profit.
@@kevincortese7751 I sent an email to FTMO support and they told me that the Max Daily Loss is calculated in the same way for a Free Trial account as during the Challenge stage, Verification stage and even when you are Funded....I don't know who to believe anymore😂
Maybe they've made a change. Judging by their website a rolled over loss reduces tomorrow's DD. I don't think a rolled over profit increases your DD: ftmo.com/en/#maximum-daily-loss "Be careful as the Maximum Daily Loss resets at midnight CE(S)T! Let’s say that one day you had a profit of $4,000. On the same day, you have an open position with a currently floating loss of $13,000. On this day, the maximum daily loss is not violated. The current daily loss is $9,000 ($4,000 closed profit - $13,000 open position). However, if you hold this position with an open loss of $13,000 after midnight, the daily loss limit will be violated. This is because your previous day profit doesn’t count to a new day and the open loss of $13,000 exceeds the max daily permitted loss of $10,000." However, I'd go by whatever support chat is saying their current policy is.
Sorry if I wasn't clear. When you request a payout, you do NOT have to go through step 1 and 2 again. Say you have a 100k account with 10k profit. Today you have 5k daily DD and 20k total DD. If you request your full profit split, tomorrow your 110k account would be reset to 100k. You'd now have 5k DD and 10k DD. This is still a funded account. If next month you make 10k, you can withdraw and repeat the process.
Glad it helped. Check out my essential playlist for info about risk mgt, psychology and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGjY9GHP3FOTbzyM6kSfkCx
hi , i am about to pass verification stage , i am almost done with my trading objective . So once you pass does ftmo gives funded account ? does stats matter ? i spoke to ftmo live chat they said to pass verification you just need to pass it ? i am a scalper so my stats are not very good but i havent had a single loss day
Great job on your progress. For a 100k account, as long as you do not hit -5% in a day or hit 90k overall then you're fine. Once you pass, make sure to request the swing account, or else you can lose your account if your TP or SL is triggered by news.
@@kevincortese7751 okay i had a bad day once i was -3% but was under drawdown and i was below 100k , now i am back and about to pass my account. So its gonna be fine we just have to pass the trading objective which is $5000 and should not drawdown 5k in a day and account should not go below 90k . I asked ftmo and they said i just have to pass the account.
Thanks alot kevin , i was just concerned as someone told me if you pass verification then sometimes ftmo still doesn’t give you funded account. But i think some people just say rubbish things . As ftmo is a good prop firm and the chat told me on ftmo that we will give funded once you pass verification stage objectives.
FTMO has been around for years. They're not going to damage their reputation by cheating you. Follow the rules and you'll get your account. Keep following the rules and you'll get paid.
Hello kevin Great explanation. For the 100k account If i get to 90k Can i still take a trade? Since taking a trade automatically takes me below 90k! Thank you
As soon as your 100k dips to 90k it's game over. When you get to 95k, I'd cut your risk in half. When you get to 92.5k, cut it in half again to give you more time to dig yourself out of the hole. Once you get some momentum and breathing room, you can size back up again.
Good day again my good sir.. Last question on the draw down topic.. So let's say you have a $100 000 account and you make 11%. $11 000. You close all your active trades and withdraw the whole 11k profit.. Would that be a violation of the 10% rule?meaning you loose your account?
You wouldn't get the full 11k since there's a profit split with FTMO. After you take all your profit, your account is reset to 100k and you have a brand new 5k daily and 10k (90k min) total equity. It's not like futures prop where you have to keep your profit in there as a buffer.
Thank you sir I have been preparing myself from June of this year and have recorded every trade I executed on my live account since. I feel I am ready to take on the world come January 2015.. Watch out for me I am about Glow.. Thank you for showing love always. You are indeed 1 of the few great man. Stay this way, I wish you all the wealth and success you desire.. It's my turn now.. And I am bringing home the Gold. THE GLORY, VICTORY IS MINE!
Amazing attitude. A live account is no different than the phase 1/2. Think in terms of R and not $. I'd risk 0.25 to 0.5 in your funded account and make sure you secure your refund. If you can, try to reinvest the profits and not spend it on shopping. Try to get max funding with FTMO and then branch out and set a new goal for $1MM in funding.
@@kevincortese7751 thank you for the amazing advice, I have been preparing my mind every day since June for risking 1%. I have never been this prepared for anything in my life before. I have no fear nor doubt in my ability to succeed. I have been to my 1st withdrawal so many times in mind.i am now taking my body there..i am filled with gratitude for you and may your Chanel grow and change more lives. It changed mine.. I wish more wealth, health and success.
A long bounce only happens when the previous candle was below the green MA. 2 candles ago it did close above the greeen cloud, but three candles ago, it was already above the green cloud so this is not a bounce. If three candles ago it closed below and then two candles ago it closed above the green, then 2 candles ago would have been the bounce. At the current candle at 5:43, we are still in between the fast and slow MA so there's nothing to do now.
Thanks Joseph. Check out the full prop firm playlist for more tips and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjFdEedzI9JfQmqR97oZMzMv
Not during phase 1 or 2. Once funded, if you want to trade news, you have to request the swing account. If you trade news with a regular funded account, they you will lose your account.
I have seen many videos on taking trade with Ichi. but this is the only one which explains statistic and use of higher time frame just what i was searching. 10 likes from me. Since market is fractal, this will work on daily - weekly as well and on any market.
Glad you enjoyed Spider. Check out the full ichimoku playlist and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U
Thanks Julio. Check out my ichimoku playlist for more tips and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U
Thanks Simojovic. Check out the full prop firm playlist for more tips and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjFdEedzI9JfQmqR97oZMzMv
Hi, I'm using DX trade through FTMO & I can't figure out how to export my trade history for analysis on the software I use? I'm having to manually type it out into an excel document... I scalp... this is not sustainable haha. Could you please advise? Thank you :)
I don't know of a way to export the trade journal. Only thing I can think of is to use MT4 and copy to DX and then export from MT4. Here's the video about the copier: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-MDCnDWOYezM.html
You're right - FTMO has recently been cracking down on sizing. They want a max of 1% risk per trade. 1% wouldn't be a violation but I'd go between 0.5% to 0.75% to be safe. If it were me, I'd use the same sizing during phase 1/2 so they can't say my style is any different.
@@kevincortese7751last question, so I would be penalized for trying to pass phase 1 and 2 faster by using 2%, then ones funded take the risk per trade down to 1% or that 0.75%? Thank you very much for your response sir on the other question.
I'd say FTMO has a lot more credibility than more other firms. Other props were finding ways to not payout, terminate contracts because the eval trading didn't match the live account. Just take a few more trades and play it safe. I don't think FTMO will give you grief, but max 0.75% once you pass phase 2 for sure.
So levarage of 1:30 What does it mean could I risk 2% per trade during phase 1 and phase 2 or will that be too much?Because what I know is once founded you are only allowed 1% risk that I understand
The TradingBox Order Management is an MT4 plugin. I don't believe it's available for TV: www.mql5.com/en/market/product/47888?source=Site+Profile+Seller
Not sure what you mean by float, but if you carry over a trade that affects your starting day balance. If you have a 100k and roll over a $5k profit, you min daily equity is 100k. Hit break even and you'll lose your account. If you roll over a -2k loss, you can only lose 3k, not 5k more tomorrow.
Thanks for the compliment. Check out the full ichimoku playlist and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U
Hi Kevin your videos are so well explained. I just passed my FTMO challange and got funded. Now I am alot clearer to how I can preserve my account. Thanks alot once again!
Thanks great. If you don't want to run into the news rules, I'd request the swing account. I'd also recommend trading really small until you qualify for your payout. After this, I'd trade a max of 0.5% per trade ($500 risk on a 100k account for example).
@@kevincortese7751 Yes Kevin, mine is a swing account. If would be great if you can do a video on the different between a swing and non swing account and it's pros and cons. ...If you have the time. Thanks once again Kevin!
Essentially, if you have a swing account, you can trade news, hold over the weekend etc. With a normal funded, you'll lose your account if your TP, SL or limit order gets hit by news. I've talked about the difference in my FTMO Hidden rules and other videos. Since you already have the swing account, I wouldn't change anything.
I'd personally only go as low as the 5M, with the 15M filter. Ichimoku is a lagging indicator and Heiken Ashi bars lag even more. I could maybe see using HA for a trailing exit, but not for entry. They are even less reliable because TradingView doesn't let you backtest HA candles. Check out the full ichimoku playlist and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U
As you go through the playlist, I start with entries on the 4H time frame and use the daily as the filter. In a later video, I show the results of entering on the 15M. Check out the full playlist and let me know if you have any questions: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U
@@kevincortese7751 merci le probleme c'est que je ne parle pas anglais c'est pour cela que je pose ma question ici avec le traducteur je peu comprendre si tu pouvais me répondre ici merci !!😉😉😉😉
Salut Renato. Quelle est votre question ? Vous pouvez également essayer l'option de sous-titres codés sur RU-vid. Ma playlist comporte 2 stratégies et je vous recommande de regarder la playlist complète, puis de me poser toutes vos questions.
hey dear sir: let's say if I have a 10k$ live account and then after that If I take the 100k$ challenge and passed it then what will happened, does my account balance become 110k$ or I have to do separate trade on both 10k$ and 100k$ accounts
You'd have 2 accounts (10k and 100k). You can use a trade copier to have it open positions simultaneously in both accounts or you can treat them as separate and only take the position in one account. FTMO may be able to combine them if requested.
@@kevincortese7751 I did a demo challenge with a demo swing account. It's actually not that bad, I didn't even notice the difference honestly. I passed it not yet officially until tomorrow. Then I'm gonna take another demo challenge at least 2 more for practice. Thanks for the info. 🙏🏾
Hi thanks for the perfect explanation, I just have some questions, does this system work on XAUUSD? Can I use it for a 15M time frame? Do you prefer bounce trade or Kumo breakout?
Hi Omermziri - Yes, ichimoku can be used when trading gold. If you enter on the 15M, I'd use the 1H as the higher time frame filter. I personally prefer the bounce trade because it offers multiple chances for reentry. The breakout signals can be good, but if you miss them it might be a while before you have another chance to enter.
Hi Sadar. Yes, you can hedge on FTMO (ftmo.com/en/how-to-save-while-you-hedge/). Yes, FTMO is one of the companies listed that offer swap-free accounts (www.propfirmmatch.com/features/swap-free-accounts). Check out the full prop firm playlist for more tips: ru-vid.com/group/PLa6XDmoqdrjFdEedzI9JfQmqR97oZMzMv
Thanks for such a high compliment! You'll love the rest of the ichimoku playlist: ru-vid.com/group/PLa6XDmoqdrjGUklLkTLV0Tymnh0g1U8_U Please let me know if you have any questions and God bless you too.
I took 2 stop losses on DX today and both worked fine. Set a limit order, add the protection order at the same time. Try on .01 lots until you understand how the SL works.
Hi Kevin, could you do a video topic explaning regarding to forbidden trading strategy such as Gap trading in clause 5.4.1 (f) in GTC. Im in a gray area about this forbidden rules. Much thanks
I asked support and they said it's when you open a position and then it gaps when the market is closed. When the market reopens, you can't close it right away. He wasn't sure how long you have to keep the trade open but said he'd email me when he knows more. Never ran into this run myself, but I close everything out before end of day.
@@kevincortese7751 thank you! I finished binge watching the playlist and took notes! I’m truly grateful for your videos. May you be blessed in abundance!
Let me know if you have any questions. Backtest them before you put real money behind it. I'd also recommend the first and last video of my essential series which covers psychology and risk mgt: ru-vid.com/group/PLa6XDmoqdrjGjY9GHP3FOTbzyM6kSfkCx
