First to comment.... thank you so much...am starting my FTMO challenge end of this month and l have began seeing consistency in my trading with good risk management
I passed my second challenge in 8 days, on my first week on the verification idk what happened but one thing for is I didn’t do risk management and lost 8% in one week and ended up losing the account in the following weeks
If this video was up few months back, i would have not taken a challenge and failed, subsequently got through on second attempt. Good advice for beginners.
This is exactly what I tell people before taking these challenges but for some reason, they think that somehow they'll become better at trading when given a larger amount
I totally agree with your points Matt, I do alot of backtesting and reached 6.6% in two weeks in a 100K account, but when taking the 10K challenge the same strategy didnt work as well and needed to change my strategy half way in the challenge and now im finally in profits without violating any drawdown. I got 10 trading days left and only need 3 good trades to pass. Finger crossed. Bruno
Nothing controversial at all this is a very logical and honest video. The 5%ers boot amp is really good though 50 dollar joining fee and you only pay 250 once you pass the three demo challenges in order for you to manage a 100 k account
Totally agree, i mean just the first point of the 10% is only thing that matter, when i can get 10% months is when i will consider taking until then don't touch it
Hi Steve, I swing trade a lot less nowadays. Much more intraday but previously if it was a longer swing, I'd either close flat on Friday with FTMO or just not take the trade if it was too close to the end of the week and only take it on my personal. But they've now got a swing account so all is well
No sweat! It doesn't happen anymore and to be honest, it wasn't my 'true' friends that tended to ask that question. In short, I just kept it on the down low (what I was doing). I didn't share it, or talk about it as I know that most people either don't understand or don't care! My advice is always to steer clear of it where possible - it can cause big complications down the line!
Your 10% logic is irrelevant most traders don’t earn than in a normal month the challenge requires you to tweak your trading style to a more aggressive style just to pass the challenge
Yep take your point. The 10% logic in my opinion still holds true; You're right, a lot of people aren't able to earn 10% a month but there's no other way around the fact you need to achieve it for the challenge. My point is more around actually proving you can do that. Yes, you may need to tweak this (to your point) but the question would be why would you tweak it during your first attempt at trying to make 10%? When you've got your cash on the line, in my mind it makes most sense to have proven your ability to hit the parameters before trying to take a run at it and assume you'll be able to make it. If your tweak is doubling your risk for example, there's an argument for 'well my trades aren't changing', which is true. But the psychology behind a jump in risk + the inevitable pressure of the challenge can take it's toll. My point, is make sure you can do it in a live environment at least once before you pay for a challenge but I appreciate you may not see that way. In any case, thanks for commenting and sparking the discussion - UA-cam needs more of this!
This needs to be watched by everyone considering taking any of these prop challenges.
🙏🙏
You’re ready when you’re ready!
Life is perspective related ...We all have different capabilities.
For sure!
First to comment.... thank you so much...am starting my FTMO challenge end of this month and l have began seeing consistency in my trading with good risk management
Great stuff - best of luck!
Great advice. The stress is unreal. Passed on first retry start verification tomorrow.
Fingers crossed for you!
Bro risk management bro please
I passed my second challenge in 8 days, on my first week on the verification idk what happened but one thing for is I didn’t do risk management and lost 8% in one week and ended up losing the account in the following weeks
Excellent sound advice!
Thank you 🙏 glad you got something from it
If this video was up few months back, i would have not taken a challenge and failed, subsequently got through on second attempt. Good advice for beginners.
Congrats on getting through!
This is exactly what I tell people before taking these challenges but for some reason, they think that somehow they'll become better at trading when given a larger amount
Amen!
I totally agree with your points Matt, I do alot of backtesting and reached 6.6% in two weeks in a 100K account, but when taking the 10K challenge the same strategy didnt work as well and needed to change my strategy half way in the challenge and now im finally in profits without violating any drawdown. I got 10 trading days left and only need 3 good trades to pass. Finger crossed.
Bruno
You're killing it atm 😉
did you make it?!
Nothing controversial at all this is a very logical and honest video. The 5%ers boot amp is really good though 50 dollar joining fee and you only pay 250 once you pass the three demo challenges in order for you to manage a 100 k account
Ah nice! I'll check them out!
Totally agree with what you are saying, Don't believe the marketing hype, learning to trade takes a long time
::B::I::T::C::O::I::N::
I::N::V::E::S::T::M::E::N::T'S::P::L::A::T::F::O::R::M
🚀🚀🚀🚀✅✅✅
F::O::R::A::D::D::I::C::T::I::O::N::A::L
I::N::F::O:R:M::A::T::I::O::N*.
+1::7::8::2::4::8::2::4::4::2::1**........
Amen!
Totally agree, i mean just the first point of the 10% is only thing that matter, when i can get 10% months is when i will consider taking until then don't touch it
Absolutely! 🙏
The 🐐
Or invest in some education/mentor/health/exercise. Makes a big difference to confidence and taking on the task of beating the markets
Amén!
Just passed the funding talent challenge both phases in 48hrs... stressful lol
Great work!
waiting for ur weekly trades mah man!
Running slightly behind on the content front but hoping to get one out this week!
::B::I::T::C::O::I::N::
I::N::V::E::S::T::M::E::N::T'S::P::L::A::T::F::O::R::M
🚀🚀🚀🚀✅✅✅
F::O::R::A::D::D::I::C::T::I::O::N::A::L
I::N::F::O:R:M::A::T::I::O::N*.
+1::7::8::2::4::8::2::4::4::2::1**........
awesome video man!
Cheers man - glad you enjoyed it 👊
i think your perspective has alot of rational points.
Thank you 🙏
Hi Matt, love your video all the time, just wondering could you make a video on how you start trading and your trading journey
Perfect!
🙏🙏
What broker and trading platform do you use?
For my latest small account challenge I'm using these guys: fwd.cx/V7pfJ6hiCBkY
Charting wise I'm using TradingView
Hi Matt, seeing that you are a swing trader ,how do you manage to hold long trades without breaking FTMO news rules 🙋♂️
Hi Steve, I swing trade a lot less nowadays. Much more intraday but previously if it was a longer swing, I'd either close flat on Friday with FTMO or just not take the trade if it was too close to the end of the week and only take it on my personal. But they've now got a swing account so all is well
Hi, quick ..very annoying question :))How often do your relatives or friends ask you to trade with their money? And how do you deal with that?
No sweat! It doesn't happen anymore and to be honest, it wasn't my 'true' friends that tended to ask that question. In short, I just kept it on the down low (what I was doing). I didn't share it, or talk about it as I know that most people either don't understand or don't care! My advice is always to steer clear of it where possible - it can cause big complications down the line!
Once you're funded is there a minimum number of trading days per month?
No - only for the challenge
Your 10% logic is irrelevant most traders don’t earn than in a normal month the challenge requires you to tweak your trading style to a more aggressive style just to pass the challenge
Yep take your point. The 10% logic in my opinion still holds true; You're right, a lot of people aren't able to earn 10% a month but there's no other way around the fact you need to achieve it for the challenge. My point is more around actually proving you can do that. Yes, you may need to tweak this (to your point) but the question would be why would you tweak it during your first attempt at trying to make 10%? When you've got your cash on the line, in my mind it makes most sense to have proven your ability to hit the parameters before trying to take a run at it and assume you'll be able to make it. If your tweak is doubling your risk for example, there's an argument for 'well my trades aren't changing', which is true. But the psychology behind a jump in risk + the inevitable pressure of the challenge can take it's toll.
My point, is make sure you can do it in a live environment at least once before you pay for a challenge but I appreciate you may not see that way. In any case, thanks for commenting and sparking the discussion - UA-cam needs more of this!