Trading the FTMO free trial $10k account 2-step challenge

To see the Laptop version of the commissions and swap fees, you have to right-click on any of your closed trades in the history panel. A Dropbox will pop up, then you go to the column section (last option on the drop box, and you can tick any of the options you want to appear on your history which includes Swaps and commissions.

You can see the History; you have to manually set the swaps and commissions to show. right click on any of your closed trades and select the column on the dropdown box, then you'll see where you can tick the swaps and commissions to show.

That's still stressful

Took some long trades on EUR/USD at 1.15698 but got stopped out

I attempted to sell EUR/USD and it was a bloodbath. Recorded a $100 loss. Tbh, it was an emotional trade, I was upset about the large commissions FTMO charged me on the other eurusd trades so I tried to recover the loss only to take an emotional sell and lose another $100

I then took a break and came back for the New York session, this time I had my eyes on GOLD. I took a Gold short immediately I sighted a bearish engulfing pattern that interacted with the Pre-NY range and recovered the $100 I lost to eurusd

I then switched focus to NAS100 and took a sell after spotting the bearish engulfing pattern (blue circle). I closed it in profit then took a buy at the bullish reversal pattern (black circle)

KEY OBSERVATION: FTMO COMMISSION DEDUCTION

FTMO does not charge commission on Energy & Indices but they charge commission on FX pairs & Gold

Short on EURUSD

SELL 1.15955

SL 1.16050

EUR/USD BUY

ENTRY 1.16723

SL BE

EXIT 1.16794

FTMO Challenge Over: Key Observations

The 14 day free trial period expired today and I was not able to meet the $500 target, basically because I reduced the number of trades I take per day to just 1 or 2. However I have some observations/reservations about FTMO

1.There is no Daily Pause feature

Some prop firms have a daily pause mechanism where they stop you from trading once your daily loss reaches a certain amount. FTMO doesn't have this and it would come in handy on a rainy day.

2.Easy Account Setup & Management

Setting up my FTMO trading account was fairly easy without any complications. This is a big deal because with some other prop firms I tried, getting the account to work took days.

3.Lack of Transparency when it comes to Fees

Traders should know if the accounts are standard or raw spread accounts, and also know which instruments are zero-commission and which ones attract commissions. I noticed FX, and GOLD attracts commissions at FTMO; while Indices and Energy do not. But stuff like this should be expressly stated on their website.

4.cTrader Downtime

The FTMO cTrader web platform was very sluggish and sometimes didn't display trade history at all. I had to switch to MT5 which was better.

The fees are too much, coupled with their spread. I thought the spread will be zero spread because they are already charging commission and swap

FTMO Pros & Cons

While testing the free trial with FTMO I liked that I could choose from a variety of trading platforms, there was no consistency rule, drawdown was fixed/static, and analytic tools were top-notch

However I didn't like being charged a commission in addition to spread

FTMO Pros & Cons

While testing the free trial with FTMO I liked that I could choose from a variety of trading platforms, there was no consistency rule, drawdown was fixed/static, and analytic tools were top-notch

However I didn't like being charged a commission in addition to spread

Strategy: Wait for price to breakout of the yellow box and start reversing back towads it, then trade the reversal.

GOLD BUY 4342

SL 4323