YEARS OF FTMO EXPERIENCE
PROP FIRM TRADERS
What is FTMO?
FTMO is a "Proprietary trading firm" meaning a financial firm or commercial bank that invests for direct market gain rather than earning commission dollars by trading on behalf of clients. It's also called "prop trading". They recruit talented forex traders to trade with their capital for a 80/20 split of profit (80% for you the trader). To be sure the trader is suitable, they must pass a 2-step evaluation challenge where you meet profit targets and have losses within limits.
What is the FTMO challenge ?
The FTMO challenge is the initial test proving your strategy is viable. The profit target is quite high at 10% within 30 days, however this is reduced to 5% in the 2nd stage of the challenge which is 60 days. We passed the challenge by increasing the lots to be a little more aggressive in the 1st stage challenge, then reduced it afterwards to be conservative.
How to pass FTMO challenge ?
You'll need to be highly disciplined, patient, and strategic to pass FTMO challenge or any other prop trading firm.
Isn't it great to know that you may make a lot of money in a short period of time with just a tiny investment and a prop trading business challenge account? According to FTMO and many other prop trading businesses' annual reports, only 15 out of 100 prop trading firms pass the prop firm challenges, and only 6 out of 100 prop trading firms keep their funded accounts for more than three months. FTMO is a simple technique to improve your cash flow in a short period of time, but it requires the same attitude and tools as the 1%; remember the code "TO BE IN THE 1% DO WHAT THE 1% DOES."
What is the best prop trading firm challenge to take ?
All of the obstacles on FTMO, or any other prop trading firm, necessitate the same technique and a highly precise forex trading system. If you can pass with a $100,000 account, you can pass with a $10,000 account as well, but the bigger the challenge, the bigger the profit.
What is the average monthly return for a funded account ?
During the challenge phase, the system trades more aggressively and risks a little more than the funded account, which is not recommended for any long-term trader. When risking correctly and with minimal strain on the account, the typical return on a funded account is between 3% and 5%.
Recommended prop trading firm 2023
We utilize the following criteria to distinguish between a good and terrible prop firm:
Nothing is more important than experience because it has a long-term impact on how a company is perceived; the more experienced a prop firm or trade is, the higher your chances are of success with them.
These prop firms operate unlawfully and under various schemes depending on where the prop firm is located due to specific rules. A prop company is likely to go out of business soon if they are not abiding by the rules in their particular location.
3. Provider of liquidity
Prop firms should be supported by a legitimate source of liquidity; otherwise, your transactions will just be treated as manipulated market orders.
There are many factors but those are the main one we deeply dive into before recommending to our traders.
Trustworthy prop firms 2023 : Novafunding, Ftmo, myfundedfx, thefundedtrader & kortana
PASS PROP CHALLENGE AND START EARNING PROFITS CONSISTENTLY WITHOUT SPENDING THOUSANDS OF DOLLARS IN THE MARKET