“It might take time to learn and to be good in trading”

No one is born a master and every trader had to go through a period when he failed, made unnecessary mistakes, and felt like quitting trading for good. Patience and willingness to learn from our mistakes is one of the basic virtues of any successful trader. To find out how our FTMO Traders dealt with periods of failure and learning the basics, read our next FTMO Traders Q&A.

Trader Ran Jared: "This is the best and most rewarding business that you can have in your life."

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

Yes, in terms of my strategy, I only use swing trading where I look for lower time frame confirmation based on higher time frame break of market structure. In terms of risk, I only use around 0.5-1% VAR to ensure that I can still manage it in case drawdowns occur. My strategy has a bad win rate but can generate a good amount of RRR, if executed properly. I’m strict with following my rules because I try my best to execute based on how I backtested my strategy. I used my backtest data as a framework which I can rely on whenever I am executing trades in the live market. Honestly, FTMO helped me to build my trading plan because it made me push myself to analyze data and derive the best possible strategy that will work for a long period of time.

Describe your best trade.

My best trade is during the Challenge phase where I made approx. 15% return in a single trade. It's basically a short on AUDJPY. I saw the break of market structure in the Daily timeframe, so I looked for intraday confirmation and executed according to my plan.

What was the hardest obstacle on your trading journey?

The first two years of my trading were really difficult. It’s where I almost gave up because it seemed that I was running in circles, it even came to the point where I almost lost the majority of my savings because I was putting money in my trading account just to offset the trading losses that I had. But I had some “aha” moments in my third year in trading, where I started learning to trade forex, and discovered how risk management is the key in achieving consistency.

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

In terms of my strategy, the difficult part is always when I am running in good profit already then the market decides to go back to my entry price, then eventually hits my stops. It happened multiple times during my FTMO Challenge and Verification. But then again, I am trying my best to follow my plan no matter what happens.

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

The most important characteristic a trader must have in order to be profitable is being disciplined. It comes in several forms: following your trading strategy consistently, using a fixed amount of VAR, not being emotional when drawdowns occur, etc. There are too many to mention, but those are the important aspects that you need to consider when trading.

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

My best and only advice to a new trader is to NEVER GIVE UP! I came to a point where I almost wanted to quit trading because it seemed that I was achieving nothing, but some “aha” moments came and here I am. It might take time to learn and be good at this craft, but I swear that this is the best and most rewarding business that you can have in your life!

Trader Enrique: "Don’t try to pass an FTMO Challenge with one trade."

Describe your best trade.

My best trade was USDJPY on 23 April. Took some buys based on macro economic information and technical analysis based on a king term bullish trendline. It is my favorite because I had to investigate macro economics events and see the charts. It was a full job.

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

Personally I like to use probability analysis and use standard deviations to take in consideration my Stop Loss orders and Take Profits.

How did loss limits affect your trading style?

It has very little effect on my style. Because usually my risk is low for each trade. And even though I usually limit my monthly loss to 5% of my account balance.

How would you rate your experience with FTMO?

FTMO services gave me an excellent experience with spreads and commissions. Personally I recommend it to all trading communities to get leverage in their trades.

Where have you learnt about FTMO?

I learnt about FTMO by following you on Instagram. And since you publish monthly statements this year I decided that it was time to be part of your team.

What would you like to say to other traders who are attempting to pass an FTMO Challenge?

Take it with calm. Don’t try to pass it with one trade. Being a trader is about generating trade ideas every day and the important filter to take the better decisions is to be patient.

Trader Joseph: "There is no better feeling than completing an FTMO Challenge."

Describe your best trade.

My best Trade was a GBPUSD swing trade sell, which I held for a few days and made some good pips on to help with my challenge!

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

The verification for me was more difficult as yes, it is only a small amount, but you have come so far and you don’t want to risk failing or not finishing in time.

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

What was easy for me was staying about the max daily loss and max loss amounts, they are pretty easy to stay above if you are using correct risk management.

What was the hardest obstacle on your trading journey?

Leaving emotions to the side and focusing on the task ahead!

How did loss limits affect your trading style?

Not much, it didn’t really affect my style of trading because I use pretty strict risk management.

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

It is a great challenge to do, especially when you complete all the steps, there is no better feeling than completing an FTMO Challenge!

Trader Amari: "Try not to get emotionally attached to the numbers and be okay within losing."

What was the most difficult during your FTMO Challenge or Verification and how did you overcome it?

During my verification I ran into a psychology battle. I became overconfident and the market humbled me. I started to think that I knew where the market was going at all times just because I was able to read the market. That led to me being in drawdown, so I had to take a step back and tell myself to stick to my plan. Just because we can read the market does not mean we know where the market direction is going.

How did loss limits affect your trading style?

The maximum loss did not affect my trading style in the slightest. If anything, it was just a friendly reminder that I should not overtrade and instead focus on quality setups instead of quantity and that I should not be trading based on my emotions.

What does your risk management plan look like?

When trading, I risk 1% per trade as I find that works best for me. I am okay with that as it allows me to place 4-5 trades if I wanted to, without worrying about surpassing the daily loss limit. Also, I am fine with losing multiple 1% trades as within my strategy I am able to make it back with just 1 position, if the right setup shows up.

What was the hardest obstacle in your trading journey?

The hardest obstacle I ran into was dealing with psychology. These were small things like not getting emotionally attached to the numbers fluctuating, not admitting when my bias is wrong, learning to deal with losses, not letting trades hit SL or TP, finding where to place stop losses and more. However, I kept going as I knew that one day it would just click.

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

It would have to be me passing my FTMO challenge within 4 days. I find it quite impressive due to the fact that I was in drawdown as well. Also, I stuck to my plan, and I did not overleverage and was still able to get out of drawdown and achieve the 10% within such a short space of time.

What would you like to say to other traders who are attempting to pass an FTMO Challenge?

Try not to get emotionally attached to the numbers and be okay with losing as it happens to the best of us. Throw your emotions out the window and just trade like a robot whilst sticking to your plan. That is what will make you profitable.