What happens when a market leader in prop trading replaces his unpopular Trading Objectives with something much better? You wanted it, so we gave it to you. The unlimited trading period is here!
The 30 or 60 calendar days to complete the Evaluation Process are gone. Free repeats and 14-day extensions are also no longer needed because traders trying an FTMO Challenge and a Verification don't have to watch whether they can make 10% in 30 days or 5% in 60 days.
We can declare with a clear conscience that the biggest obstacle for conservative traders who had problems due to increasing their positions to meet the Profit Target listed in the Trading Objectives is in the past. What does this new change mean for traders?
Simply put, for many traders, some of the stress they had when trading with a fixed trading period will be removed. Making money in Forex is generally not easy and achieving a 10% return in one month can already be a chore for many traders. In an open-ended trading period, there is no need to rush into trades, it is much easier to think about position sizes, wait for the right time to enter, and then let the trades do their work.
Beware of swaps!
Forex trading is particularly suitable for intraday and short-term traders due to the use of leverage and the existence of swaps, and the classic "buy and hold" strategy does not work well for trading leveraged products. In fact, a trader holding one instrument for several days can lose several percent of his potential profit just due to negative swaps. When a position is in a loss, it is compounded by swaps. In this situation, it is necessary to keep in mind that despite the set Stop Losses, such a long-term position, in which swaps start to play an important role, may still result in a bigger loss than the trader planned. In the worst case scenario, by failing to meet one of the loss limits (the Maximum Loss or the Maximum Daily Loss).
If you trade and accidentally leave your account inactive for a few weeks, we will contact you to make sure the account is not sitting unused on our server, taking up space. Our traders can also request a so-called "freeze", i.e. a pause, of an account, especially in case of planned longer inactivity, for example, a holiday.
An unlimited trading period does not mean that we support speculators who do not want to trade on their simulated funded trading accounts. We want to provide FTMO Accounts to traders who know how to trade but don't have the resources to do it meaningfully. We like active traders who trade smartly, have a clear plan and strategy, and are able to follow the rules of money management and risk management.
Please note that trading without a time limit on an FTMO Challenge and Verification is only possible for newly purchased accounts made after the announcement of the campaign, i.e. July 13, 11 am CEST. Please note that orders created before the launch of the campaign and the rules on their accounts as well as on the subsequent Verifications for these orders, as well as Free Repeats, cannot be changed in any way and the rules remain the same as before and according to the public terms and conditions in force at that time.
FAQs
There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. As soon as all the Trading Objectives of your FTMO Challenge are met and your results are reviewed, you can proceed to the Verification phase. The minimum time to complete an FTMO Challenge is 4 trading days.
What is a prop firm without time limit? ›
Prop firms with no time limit, as the name suggests, do not impose any specific time constraints on their traders. This means that traders are free to hold positions for as long as they deem necessary, whether it's for a few minutes, hours, days, or even weeks.
What is the 5-3-1 rule in trading? ›
The numbers five, three, and one stand for: Five currency pairs to learn and trade. Three strategies to become an expert on and use with your trades. One time to trade, the same time every day.
What is the 3-5-7 rule in trading? ›
The 3–5–7 rule in trading is a risk management principle that suggests allocating a certain percentage of your trading capital to different trades based on their risk levels. Here's how it typically works: 3% Rule: This suggests risking no more than 3% of your trading capital on any single trade.
Can I pass FTMO challenge in one day? ›
We do not have any maximum time limit during which you would have to pass our Evaluation Process, you can therefore take as much time as you need. Once you meet all 4 Trading Objectives and your trades are reviewed, you can move on to the next phase right away.
What is no time limit on surgetrader? ›
“No time limits” means no restrictions on how long a trader can trade during their Audition process, whereas “no minimum trading days” means that a trader is not required to trade for a number of days before passing their Audition or challenge.
Which prop firms offer no time limit? ›
Prop Firms With No Time Limitations
| Proprietary Trading Firm | No Time Limitation Requirement |
|---|
| Audacity Capital | ✅ |
| Axe Trader | ✅ |
| Bespoke Funding | ✅ |
| Blue Guardian | ✅ |
30 more rowsMay 14, 2024
Top Best Cheapest Prop Trading Firms
- 1) Funded Trading Plus.
- 2) FTMO.
- 3) TopStepTrader.
- 4) Fidelcrest.
- 5) LuxTradingFirm.
- 6) OneUp Trader.
- 7) FTUK.
- 1) Funded Trading Plus.
It is a high-stakes game where many are lured by the promise of quick riches but ultimately face harsh realities. One of the harsh realities of trading is the “Rule of 90,” which suggests that 90% of new traders lose 90% of their starting capital within 90 days of their first trade.
What is the 80% rule in trading? ›
The Rule. If, after trading outside the Value Area, we then trade back into the Value Area (VA) and the market closes inside the VA in one of the 30 minute brackets then there is an 80% chance that the market will trade back to the other side of the VA.
The fifty percent principle is a rule of thumb that anticipates the size of a technical correction. The fifty percent principle states that when a stock or other asset begins to fall after a period of rapid gains, it will lose at least 50% of its most recent gains before the price begins advancing again.
What is No 1 rule of trading? ›
Rule 1: Always Use a Trading Plan
You need a trading plan because it can assist you with making coherent trading decisions and define the boundaries of your optimal trade. A decent trading plan will assist you with avoiding making passionate decisions without giving it much thought.
What is the 11am rule? ›
Day Trading
For day traders, the 11am rule suggests that the period before 11 am EST is often characterized by heightened volatility and potential for trend reversals. This presents opportunities for traders to capitalize on short-term price movements.
What is the 10 am rule? ›
Traders that follow the 10 a.m. rule think a stock's price trajectory is relatively set for the day by the end of that half-hour. For example, if a stock closed at $40 the previous day, opened at $42 the next, and reached $43 by 10 a.m., this would indicate that the stock is likely to remain above $42 by market close.
How long can you hold a trade with FTMO? ›
In an FTMO Challenge or Verification, you don't have to. During these stages, you can keep your positions open overnight and over the weekend as well.
What is the 2 minute rule in FTMO? ›
During the FTMO Challenge & Verification, you can ignore the rule of not trading in the window of 2 mins before to 2 minutes after the specific releases. We don't enforce it as we want to make it easier for you to pass the evaluation process.
Does FTMO have inactivity? ›
If the account won't record a trade in 30 days, it will be deactivated due to inactivity. Therefore if you'll know you won't be trading for several weeks, please let us know in advance.
Is there a limit on FTMO accounts? ›
Just keep in mind that our maximum capital allocation on FTMO Accounts is $400,000 per trader/strategy.
