My FTMO journey: trials, trials and maybe more anytime

trendie

Legendary member
6,840 1,398
Had only one trading session today which lasted less than 45 minutes.
This trial is done, I failed the daily loss limit twice, but I got is better than the trials before.
Next one will be started tomorrow when this one has run out.

To be fair, I think you got the blow outs on the 1.5lot trades.
If you are comfortable with the 1-lot series, I think you are onto a stable and consistent method.

Really envious of your ability to be done in under an hour.
Good stuff. Best of luck with the next series.
 
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IlIlIlIlI

Established member
589 555
To be fair, I think you got the blow outs on the 1.5lot trades.
If you are comfortable with the 1-lot series, I think you are onto a stable and consistent method.

Really envious of your ability to be done in under an hour.
Good stuff. Best of luck with the next series.
Besides regarding also the higher time frames, I trade only the M1 chart and a half hour has 30 candles to paint .. ;)

And you're right, the 1 lot series are much better for me.
I will stick to the 1 lot size.
I was always afraid not to be able to take the profit target - I should be much more relaxed as I made an average of nearly 1k on each of the nine profitable days - trading 1 lot series.

With better entries on all days no limit would be violated - training will be continued tomorrow with the next round of a trial.
Looks like FTMO is a good trainer for me.
 

IlIlIlIlI

Established member
589 555
Today I had three smaller scalping trading sessions with different volume/number of trades.
The day ended with a fabulous max. DD (shown as max. daily loss) of less than 250 EUR.
I didn't want to trade the US opening or the US session today as for me the market is unpredictable for a forecast for the day.
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trendie

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6,840 1,398
Great start.
Just being pedantic, but you're stats show 14 trades, but your journal shows 13.
A trade is missing, somewhere.
(not that you need to display it, but my OCD is kicking in.)
 
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IlIlIlIlI

Established member
589 555
you're right, this trade is missing:
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It got lost between the two screenshots of the trades.
 
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IlIlIlIlI

Established member
589 555
I traded today only before the US market opened.
Don't know a reliable direction to trade as long as the daily candle sticks on the lower Bollinger Bands on the daily chart in the way it does until now.
So there were only some small scalping trades made around lunch time in unspectacular situations.
The incredibly low result behind the Max. Daily Loss stayed unchanged. Yeah! ;)
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IlIlIlIlI

Established member
589 555
Enough is enough.

As I wrote on another threat, I couln't read or write anything in the last days as long as the DDos protection routine was active as I was always redirected to this routine and not to Trade2Win as published by the routine.

Passed this trial in 5 days and closed the last positions as the profit target was met. Today wasn't a good days as the timing wasn't good - but the results are very good as it is the best day of this trial. ;)

There was no losing trade in these 63 trades so RRR can't be calculated.

Now I have to think about when I will start a challenge.

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trendie

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Thats brilliant!
Daily drawdown of just 2000-ish, is around half the Max Daily Loss, so thats covered.

You normally group your trades around the 4-lot level, but today, there seems to be 3 sets of trades:
6-lot around the 15:40 mark,
2-lots trades around the 15:50 mark,
and 7-lots trades around the 16:30 mark.

Getting ready for a Min 10-day run? (y)
 
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IlIlIlIlI

Established member
589 555
Thats brilliant!
Daily drawdown of just 2000-ish, is around half the Max Daily Loss, so thats covered.

You normally group your trades around the 4-lot level, but today, there seems to be 3 sets of trades:
6-lot around the 15:40 mark,
2-lots trades around the 15:50 mark,
and 7-lots trades around the 16:30 mark.

Getting ready for a Min 10-day run? (y)
Yes, I didn't hold my 4 or 6 lot levels today as I was in a bad mood for other reasons, not with trading.
I added some "test" or fun trades with short tp levels and some of them needed too long to run in.
Maybe I'm trading better when I can't concentrate 100% on trading as it was today ;)
 

IlIlIlIlI

Established member
589 555
Day 6 of this trial: 💣
Reasons: bad timing, no discipline, maximizing lots, trapped in the US market oopening.

As it looked like there were some issues with price data for US100 today during the heat, unfortunately they got it when I violated the daily loss limit - besides I had more than 1.300 EUR profit on closed positions. :(

After I blew the limits, I closed all open trades when they showed small profit besides "knowing" that also the tp would be reached some minutes later.

So I cannot be proud of my 90 consecutive winning trades.

Solution:
To survive the challenge, a maximum of 4 lots should be held - it looks like it is easier for me to fight for 10% profit than to hold the daily loss limit with 6 lots (ok, there were 9 lots open ;)).

So I will try to reach the 8k profit in the remaining days trading only 4 lots - of course without violating the loss limits again.
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trendie

Legendary member
6,840 1,398
The US100 gives about 8euro per pip per lot.

With a 1-lot trade and a 4000 limit, you could survive a 500 pip drawdown.
With 4-lots open, you can survive a 125 pip drawdown.
With 6-lots, around an 85-pip drawdown.

All assumes price reverts. Actually, all your trades seem to show reversion is a high probability.

Notwithstanding the Daily Max Limit, this is still a significantly positive method.
Good luck on next few days.

EDIT: do you not have a failsafe exit rule?
You never seem to take a loss. (not criticizing, I have blown about 5 accounts so far!)
 
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IlIlIlIlI

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589 555
EDIT: do you not have a failsafe exit rule?
Yes, but more on the chart figures than on pips.
I didn't and don't see a turnaround for today yet, maybe in 20 minutes or 1 1/2 hours.
Maybe not today, but tomorrow.

For a while I traded with sl on open trades, and I lost more than without sl.
There is a lot of room for improvement.
 

trendie

Legendary member
6,840 1,398
Yes, but more on the chart figures than on pips.
I didn't and don't see a turnaround for today yet, maybe in 20 minutes or 1 1/2 hours.
Maybe not today, but tomorrow.

For a while I traded with sl on open trades, and I lost more than without sl.
There is a lot of room for improvement.
I understand the dilemma.
On my "other" accounts, I aggregate trades, and hedge, and if I do it properly, even a losing proposition can be managed with a much lower accumulated exit price, if not for break-even.

Its always those fat-tails tripping you up.
 
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IlIlIlIlI

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589 555
Today I broker the chain of winning trades as I closed the last trade (# 100) with a small loss.
I didn't like the market moves after the US opening and wanted to end the trading session.
I had enough profit to take the profit target of the challenge with this trial account after 7 days.
Didn't hold the 4 lots always but the trades were under control, the max. daily loss today was always significantly less than 1k.
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IlIlIlIlI

Established member
589 555
Didn't hold any rules when the market started to fool my impatient lunch time trade analysis ;)
Should I learn and practice more discipline?
Traded up to 10 lots today, the DD shown in MT4 was a little bit higher than 2k, the daily loss limit was less than 2k as there were some trades closed with profit.
Got the second loss trade of this trial today when I entered a typical "my-broker-hates-me-for-that" scalping trade with originally 1.5 pips tp and got a worse fill to turn it into a small loss.
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