Journal for FTMO Challenge

FTMO is the gold standard of prop firm evaluations for forex and CFD traders. The two-phase Challenge + Verification process tests both profitability and risk management over 30-60 days.

FTMO's evaluation has two phases: the Challenge (hit 10% profit target, don't exceed 5% daily loss or 10% max loss) and the Verification (hit 5% profit target with the same loss limits). The rules are strict but fair — they're designed to find traders who can manage risk, not just make money.

The daily loss limit (5% of starting balance) is where most FTMO traders fail. On a $100,000 account, that's $5,000/day. It sounds like a lot until you realize that a badly sized forex trade on a volatile day can hit that in minutes. Your journal must track your daily P&L relative to this limit after every single trade — not at the end of the day.

FTMO evaluations are primarily for forex and CFD traders (unlike Tradovate-based prop firms for futures). Your journal should track the specific instruments you trade, the session timing (London, New York, Asia), and the lot sizes used. Over time, you'll see which pairs and sessions give you the best edge within FTMO's rules.

A proven FTMO journal strategy: set your personal daily loss limit at HALF of FTMO's official limit. On a $100,000 account, stop trading at -$2,500 instead of -$5,000. This gives you a buffer for slippage and unexpected moves. Your journal tracks both limits — your personal one and FTMO's — and you stop at whichever is tighter.

Note: FTMO uses their own platform (not Tradovate/TradingView), so auto-capture tools like TradeRipper won't work directly. Import your FTMO trades via CSV into your journal for analysis, or use manual entry with psychology tagging during the session.