New FTMO Traders joining us this December

The last month of the year is here and we would like to welcome our new FTMO Traders that are joining our ranks. As always, we asked them a few questions about their evaluation process and what tips & tricks they can share to inspire others. 

Trader Evans - "I had to remind myself that money management is important to be a successful FTMO trader"

What was easier than expected during the FTMO Challenge or Verification?

The time to pass is longer than 10 days. It would be nice to pass in the 10 days, but it is comforting to know you have longer than 10 days and that takes the pressure off taking unnecessary risks.

How does your risk management plan look like?

My risk management plan is to risk no more than 1% per trade. If the market was moving in my favor, I would move my stop loss to break even and my initial trade becomes risk-free. I then look to add more positions as the trade progresses and the market gives me opportunities.

What was more difficult than expected during your FTMO Challenge or Verification?

Having to stop myself from jumping in and out of trades was probably the only challenge mentally I had during this process. I had to remind myself that money management is important to be a successful FTMO trader and that you don’t have to take every trade. With a good risk to reward strategy, you can pass with very few trades.

How did you manage your emotions when you were in a losing trade?

Stick to the plan. Trading is a numbers game. If you have a strategy with a good risk to reward ratio, you will always be profitable.

What do you think is the key for long term success in trading?

The key to long term success in trading is consistency.

What would you like to say to other traders that are attempting the FTMO Challenge?

Take your time. You need to be patient and trust in your trading plan. Some days will be good, and some will be bad. But trust the process and stay in profit. The worst that could happen is you don’t meet the profit target and have to take another free retry. Accepting the risks of failing ultimately frees you to trade openly without holding back.

Trader Luz - "It's all probability and my job is just to analyze and execute."

How does your risk management plan look like?

I look for only high probability trades over 80 % and I use 1% to 1.5% per trade. If I'm going to enter in a riskier trade (from 65 to 80% according to with the probability of my strategy) I make sure that the R: R is at least 1:2 to make sure that I cover the risk of the trade with a higher reward and with a smaller position size from 0.5% to 1% max.

Describe your best trade.

My best trade is usually Scalping or Day Trading. Trading with the trend, waiting for the pullback to reduce my risk and increase my reward, and trading in high volatility sessions like London or New York.

What was more difficult than expected during your FTMO Challenge or Verification?

At the beginning of the second challenge, I felt excited and I was cutting winners too short, but then I readjusted my mindset. It's all probability and my job is just to analyze and execute.

What made you take FTMO Challenge?

It's a great platform to increase capital and increase the benefits of trading the forex market.

Do you plan to take another FTMO Challenge to manage even bigger capital?

Yes, My goal is to acquire the 3 accounts in the future.

One piece of advice for people starting the Challenge now.

Have discipline, follow the rules.

Trader Daniel - "It's been an exciting and nerve-wracking journey which has only just begun!"

o you have a trading plan in place, and do you follow it strictly?

Yes 100%, it has been vital for me to stick to my trading plan as I believe it's the only way to maintain steady psychology whilst trading large sums of money. You also need to not only have a plan but have tested it to the ends of the earth to ensure you have complete confidence in it.

Do you plan to take another FTMO Challenge to manage even bigger capital?

Without a doubt.

How would you rate your experience with FTMO?

Excellent and no problems so far, also it's been an exciting and nerve-wracking journey which has only just begun!

What was more difficult than expected during your FTMO Challenge or Verification?

The final 0.8% I needed for my verification, when you need such a relatively small amount to finish, you start to have thoughts of straying from your plan and just trying to rush the process to get it done. Luckily I managed to resist those thoughts and stick to my plan and it worked out for me.

What inspires you to pursue trading?

Freedom from employment, trading gives me the time, energy, and finances to lead a fulfilling life no constrained by a boss. It gives you total control of your life.

One piece of advice for people starting the FTMO Challenge now.

Trade the challenge with quiet confidence. Positive thinking, self-belief and complete trust in my plan are what prevented me from straying from it or becoming too psychologically stressed out. As much as you hope you're going to have the perfect challenge and pass with one magnificent trade on the first day, it's most likely not going to be like that. If you've put the work in beforehand and know you have a consistently profitable strategy, you can be safe knowing that you'll be fine.

Trader Glenn - "I think you need to experience the downfalls to know how to avoid certain mistakes in the future."

Has your psychology ever affected your trading plan?

Yes! When learning to trade a few years ago I went through all the common mistakes like over leveraging and/or blowing accounts when trades go against you from not having stops. Trading now is much more disciplined because of it. I think you need to experience the downfalls to know how to avoid certain mistakes in the future. With this being said.. failing hurts and takes time to recover.. but with it comes experience.

Where have you learnt about FTMO?

I've watched a lot of your videos on youtube now which I find really interesting. Keep them coming!!

What do you think is the most important characteristic/attribute to become a profitable trader?

Managing risk every time! I spent 5 months modeling different scenarios in Excel and incorporating some of the worst market fluctuations that have historically occurred. (Like T-May Brexit talks or the Swiss crash for example). Modeling these in preparation for my FTMO challenge meant I was able to never risk going above my equity limitation.

What was easier than expected during the FTMO Challenge or Verification?

To be honest.. It was as expected. as mentioned above I spent 5 months modelling various Lot size, Stop losses, qty of active trades etc.. This then ensured that no matter what the market threw at me.. I could trade my way to success.

How did you eliminate the factor of luck in your trading?

There was no luck. Some of my strategies don't get it right every time. But it's how you manage your trades when the market turns against you. For me, I look to close out partial positions in losing trades. Other times, I set SL and TPs based on S&R. Similar to losing trades, I take partial profits and reset my SL to break even.

What is the number one advice you would give to a new trader?

Concentrate on one currency pair. then use a small amount of capital to trade with. Not so small that you trade carelessly, and not so big that you put yourself in financial harm.. but enough that makes you care. Then.. risk 3% max per trade.

Trader Juan - "I believe passing this evaluation has given me confidence in myself and my skillset."

How does passing the Challenge and Verification changed your life?

I think the monetary potential aside, I believe passing this evaluation has given me confidence in myself and my skillset.

What do you think is the key for long term success in trading?

I know the key for long-term success is to focus on risk instead of potential gain. The defense is the best offense.

What inspires you to pursue trading?

The fact that it is a skill set that can unlock time, financial security, freedom. I also believe it is the one skillset anyone regardless of background, culture, or gender can put time into and become successful.

What was easier than expected during the FTMO Challenge or Verification?

I believe the challenge lived up to its purpose.

How would you rate your experience with FTMO?

10 out of 10 thus far.

What would you like to say to other traders that are attempting the Challenge?

Focus on risk, stick to 1 or 2 standard lots for simplicity.