“A loss is part of the game, and it does not mean you don’t work well”

The sooner a trader realises that trading forex cannot be done seriously without losses, the better chance he has to succeed and be a long-term and consistently profitable trader. Can you work with your losses and take them as a normal part of trading? Read what our new FTMO Traders think about it.

Trader Ghulam Ruslan: “If you stay disciplined it's not that hard.”

What does your risk management plan look like?

I first start with a moderate risk and aim for like 1-2 percent per trade. As soon as I am in profit, I am starting to increase my risk to get faster to my Profit target.

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

Yes of course, I'm going to get that max allocation of 400k USD, and I want to scale this up.

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

I only trade 1 specific pair and that's GBP/JPY. I only trade pre-London / London Session and try not to enter a trade at Lunch Time or at New York open. I don't trade Asia Session and I never trade high impact news. I used to be a swing trader, but I switched to day trading, so I am never holding trades overnight or over the weekends. My risk reward Ratio is 1:1 and stop loss/ Take Profit round about 30 pips. I never close manually when I am in drawdown. I only close manually when I am in profit. I always go for a high win rate. Make money, close the trade, come online the next day. I trade like a Sniper. I try not to take more than 1-2 trades per day.

How has passing the FTMO Challenge and Verification changed your life?

It helped me get more discipline in my personal life and vice versa. I passed the FTMO Challenge after I hit the Gym 7 days a week. No rest days. That's how I am also trading. I try to trade every day.

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

People that passed the FTMO Challenge told me that the Verification is harder than Phase 1 but if you stick to your plan, if you stay disciplined it's not that hard. Imagine your goal is to run 15 miles and you already ran 10 miles and your coach shouts at you "It's already done, just run 5 more miles!"

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

Get disciplined in your private life. It is easy to outwork everyone and win, because everybody is distracted. Social media, partying, drinking. Get in the Gym, eat healthy, work on yourself. Get confident in real life and adapt that into your trading.

Trader Daniel: “Trading requires self-control and it teaches you losing is a part of the game.”

How has passing the FTMO Challenge and Verification changed your life?

It showed me that there is room to grow it is a huge opportunity for me to prove myself and make the thing I love (trading😉) my profession.

How does your risk management plan look like?

There are strict rules: First I trade for 1/3 RRR (without this there is no trade). There is no such thing as no stop loss. There are strict exit rules like strong close above a resistance or support. I risk 1% of my account max I move stop loss only when specific conditions are met.

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

I remember this is a long run game. A loss is part of the game, and it does not mean you don’t work well. Trading is based on statistics and probabilities, so losing is part of the game. There are strict exit rules, so it doesn’t affect me very much.

What inspires you to pursue trading?

Trading challenges me in every way possible. It requires you to be emotionally strong and disciplined and on the technical side to have a solid plan pure execution. Trading requires self-control and it teaches you losing is a part of the game. Also, I really like numbers and economics.

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

Yes, I do have one. It is based on Wycoff setups both distribution and accumulation. The plan includes entry and exit rules and risk management. Also, it has a trade history with lessons from each loss or win.

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

Losing is part of the game. Find a strategy that gives you an edge in the long run and stick with it.

Trader Choong: “Don't lie to yourself thinking that you can cheat the market.”

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

Yes. It is with great importance that you follow your trading plan up to the dot. Sometimes, you get away with it, but sometimes the market punish you grievely. Hence, get a trading plan you can follow and make sure you do follow it.

What was the hardest obstacle on your trading journey?

Coming back from a negative mentality is the biggest obstacle. Giving such difficulty when you are down and yet when you still need to be focused and ready when the opportunity comes.

What inspires you to pursue trading?

I see it one of the most difficult but yet the most satisfying when I see the trading plan works. It shows that I can conquer the world.

 

 

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

Do it slow and be true to yourself. Don't lie to yourself, thinking that you can cheat the market. Follow your trading plan and always be focus.

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

Yes definitely if I can maintain and get to Prime Status I will go for another FTMO Challenge.

How has passing the FTMO Challenge and Verification changed your life?

I see it one of the most difficult but yet the most satisfying when I see the trading plan works. It shows that I can conquer the world.