My FTMO journey: trials, trials and maybe more anytime

[IlIlIlIlI]

Why do you need an FTMO account?
What is preventing you from doing this? you do not need to adhere to any prop rules also.

1. Because of the German tax laws. 2. the margin requirements.
For trading derivatives including Forex and CFDs, they cap the (total) sum of all losing trades at 20k and the other losses are not regarded in the tax calculations.
With 20k profit on the account built by the totals of 150k winning and 130k losing trades you have to pay taxes for 110k profit which is about 30k taxes.
Not a profitable deal, I think.
For trading as in the trial above you would need more than 10k to fulfill the margin requirements.

Does this algo work long term?

It is discretionairy trading with a trading panel - not an algo.
If you go back in this thread like on page 16 you see that I traded bigger lotsizes last year and I also won the one or the other demo (trial) challenge, but then I lost one again and I would not be paid.
So I reduced my tradesize again and again and what you see above is a nearly save result for not violating any loss rules.
Since June I didn't violate any rule and it could be the right time to start a challenge again.

 

[tr1ps_master]

I understand the taxation element now. I agree its not a good deal.

You made 318 years in one day, are you an algo? 😉
But seriously how does one even make that many trades manually.

You post win rate of 90%, with a massive expectancy, how long have you been able to have a run like that for?

One thing I know about trading is that scared money means no money, this is still a gambling sport. I don't care what anyone says, this is still gambling. Reason being is that you do not ever know the outcome of any single trade (event). We have to embrace uncertainty because its not going anywhere.

You are doing well, and you've done trials etc. Mate honestly, no amount of testing and trials will give you the real feel for the real thing. Just bite the bullet and get a an account that is affordable. It's all about how you trade live with real funds. Your time will be better spent doing a challenge, even a $10k one. The real thing is the real thing.

Our goal is to make money, and passing a trial will just waste your time because even if you pass it, then what you have to do a challenge again. Put it this way, if you pass a trial and fail a challenge, you will learn much more from the failed challenge.

By no means am I trying to diminish anything, I'm actually saying the opposite, you're doing really well, now put it to a proper test.

I look forward to hearing about your progress, whichever way you go, trial or challenge.

 

[IlIlIlIlI]

I understand the taxation element now. I agree its not a good deal.

You made 318 years in one day, are you an algo? 😉
But seriously how does one even make that many trades manually.

You post win rate of 90%, with a massive expectancy, how long have you been able to have a run like that for?

One thing I know about trading is that scared money means no money, this is still a gambling sport. I don't care what anyone says, this is still gambling. Reason being is that you do not ever know the outcome of any single trade (event). We have to embrace uncertainty because its not going anywhere.

You are doing well, and you've done trials etc. Mate honestly, no amount of testing and trials will give you the real feel for the real thing. Just bite the bullet and get a an account that is affordable. It's all about how you trade live with real funds. Your time will be better spent doing a challenge, even a $10k one. The real thing is the real thing.

Our goal is to make money, and passing a trial will just waste your time because even if you pass it, then what you have to do a challenge again. Put it this way, if you pass a trial and fail a challenge, you will learn much more from the failed challenge.

By no means am I trying to diminish anything, I'm actually saying the opposite, you're doing really well, now put it to a proper test.

I look forward to hearing about your progress, whichever way you go, trial or challenge.

not in one day, a trial lasts 10 days.