My FTMO journey: trials, trials and maybe more anytime

IlIlIlIlI

Established member
594 557
Today I demolished the account completely.
Thinking about stopping to trade on days like today when I start with a series of losses.
Wasn't able to get a recovery as most profitable trades were stopped out on the trailing stop.

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IlIlIlIlI

Established member
594 557
After the account left unchanged for a couple of days, I traded today and got the reduced prfit target. I doubled my sl limit to 52 pips and was looking for more precise entries.
The loss limits were violated on July 1st, so that account has no value for training for the challenge.
But maybe I get the targeted profit goal of 4k before the trial runs out.

I'm thinking about NOT trading on days when the markets run in a chaotic direction where it can't be profitable with my setups.
Edit:
To say it in other words, now I'm looking for a better structure when to trade and the criteria to find out to identify it early.

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Edit:
Today I traded less than 1 hour with tp and trailing stops so the time I spent in front of the computer for trading was even less.
 
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trendie

Legendary member
6,841 1,399
Balancing the downside with breathing room for the upside, and broker targets is the challenge.

Looks like you got a good performance there, today. (y)
But, how do you decide if the day is chaotic or not?
If its any help, I am finding the 8-am-11am is tradedable, and around 1pm- 4 / 5pm is good.
Anything else is rangey.

Somewhere, there is an answer to this conundrum.
 
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IlIlIlIlI

Established member
594 557
Balancing the downside with breathing room for the upside, and broker targets is the challenge.

Looks like you got a good performance there, today. (y)
But, how do you decide if the day is chaotic or not?
If its any help, I am finding the 8-am-11am is tradedable, and around 1pm- 4 / 5pm is good.
Anything else is rangey.

Somewhere, there is an answer to this conundrum.
I agree with your trading hours, between 11 am and 1 pm usually only scalping works , often against the previous market direction.
How to decide if the day is chaotic or not is the challenge. One idea is to try it and stop trading after the first one or two losing trades in a row, but I'm not sure whether that works.
Since the US markets are open today, US100 (NASDAQ) is ranging between 14556 and 14672 (FTMO prices). That's enough for profitable trading, but with smaller ranges it's harder (for me) as I don't know whether the market will break out of that range later.
 

IlIlIlIlI

Established member
594 557
Finally I got the profit target of aggressive mode.
I continued trading yesterday and overnight to get it.
The trial period is running out on Sunday.

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A new trial will be started beginning of next week with a regular 80k EUR account. I'm thinking about taking the swing trading account with the reduced leverage to get rid of the restrictions for news releases and overnight/weekend trading. Unfortunately that is not shown in the comparison.
 
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IlIlIlIlI

Established member
594 557
I started another free trial on Monday and I failed the objectives on the first night when I held positions overnight.
I used the new swing account which is also available as free trial.
First I proved that it is too easy to violate the rules with the reduce with a 1:30 leverage.
Now I'm trying to hit and hold the profit target in the seven days left.
Today I traded with variable lot sizes by opening a different number of trades (usually 1.5 lots each) when I traded a direction.
The chart and the statistic block don't show the full desaster, but the objectives are calculated accurately.
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The results are removed as soon as the first rule is violated.
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last trades:
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trendie

Legendary member
6,841 1,399
re: overnight positions.

Did you set a SL?
Did the overnight result in wide spreads causing a stop-out?
Or did the market simply move away from your position?
Are you trading just 1 instrument for this Challenge?

One thing I am noticing on other FTMO Challenges here, is that the trades seem to push to the boundaries of Max Losses.
I wonder if trying to get past the winning post in 1-2 days is the cause of so many fails?
(I know I did this! so not criticizing)

If you planned to pass in 5-10 days out of the 20, would you still be in the game?
 
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IlIlIlIlI

Established member
594 557
I removed the SL for the overnight trades.
I held short positions and the market ran up.
Unfortunately positions were closed by my trailing stop EA at market opening which was not planned.

When I started the swing trial account, the margin was calculated wrongly so that you could only trade 2.5 lots of US100.cash with 80k EUR. I asked them via email whether that is an error and they corrected it. Now I can trade up to 9 lots of US100.cash for 80k EUR which is enough to violate the rules.

You need to trade at least 10 days for the challenge to pass the first objective, but after passing the profit target you can continue trading 0.01 lots with at least 1 trade for 2 seconds so that the daily counter is incremented. I know from their videos that they don't like it. :)
 

IlIlIlIlI

Established member
594 557
Back into profit zone with mostly scalping trades. Fastest one needed 4 seconds to make more than 40 EUR. There are 6 days left to pass the profit objective, more cannot be shown with this account.
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IlIlIlIlI

Established member
594 557
After the last free trial expired, I started a new one yesterday - motto: never give up ;)

Account type is a free trial swing account with 80k deposit.

Strategy is changed to hold for a longer period with reduced total size and much bigger ranges for sl and tp.
This has a higher risk if positions are held overnight.

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IlIlIlIlI

Established member
594 557
Violated the rules again on day 2 of the free trial challenge.
Tuesday is difficult on my learning curve. Survival would have been possible by cutting the open trades to 1 or better: not opening the rest in the moment I opened them, but at least half day later.
Serving the trial until it ends and trying to close with significant profit.

Most trades were closed on my trailing stop EA, only 5 closed on the tp.
There was no manual intervention besides setting sl and tp.

Unfortunately FTMO removed the equity curve (even if it was never exact while checking it only all 10 minutes).

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Boooom!!
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IlIlIlIlI

Established member
594 557
The balance today hit the profit target, but not the equity.
There were not many trades made in the last days as most positions still stay in DD.
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IlIlIlIlI

Established member
594 557
There are still open position, but the profit target was reached today.
There were several small trades closed, the majority on the trailing stop.
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IlIlIlIlI

Established member
594 557
Yesterday there was some activity after posting here.
Currently there is no trade open.
I don't know whether I will take a break or continue trading tonight.
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