A warm welcome to our latest FTMO Traders

We would like to give a warm welcome to our new FTMO Traders who recently joined our ranks.  They share bits and pieces about their strategies and tips for those who are about to tackle the FTMO Challenge in the near future. Enjoy their feedback!

Trader Ben from the United Kingdom

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

Yes of course! I follow my trading plan strictly every single time, if the confluences for the position are not there, then I simply do not trade. If the confluences are presented with the correct price action, then I look to enter a trade, and risk manage accordingly. I believe in trading you need to have a solid risk management strategy, and you must be disciplined enough to stick to that strategy every single time you trade, regardless of how good the trade looks, or how much profit you might think you will end up within the end.

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

I do not believe there is a luck factor in trading at all, it’s all down to your risk to reward factor, and again your risk management strategy. If you approach the market with the mindset of controlling risk, and only trading high probability setups, then you can be profitable. I think it takes a lot of discipline and a few hard lessons to understand this fully.

How does passing the Challenge and Verification changed your life?

Passing the FTMO challenge has helped with accelerating my trading performance. I have already been managing funds for the last 2 years on a full-time basis, and the FTMO account will definitely help to grow my existing portfolio, and help to take things to the next level!

Describe your best trade.

My best trade that has stuck with me was from May 2019, buys on Gold. I held this for several days (and closed in a good profit), the trade carried on playing out for several months afterwards, this taught me that anything is possible in trading.

What inspires you to pursue trading?

My freedom, and the ability to do whatever I want, whenever I want. Prior to becoming a successful trader I used to work extremely hard within Sales in London, in a pressure-driven performance-based environment. The concept of working hard for money changed in my mind when I found out it was possible to trade and make money from a laptop, and have most of the day free after I am out of the market. This freedom-based element inspires me every day to pursue trading.

One piece of advice for people starting the Challenge now.

Keep a trading journal throughout the challenge, and keep track of your account balance on a daily basis. Don’t be afraid to take risks, and make sure you risk manage correctly and stick within the trading parameters set.

 

Algo Trader Ivan shares what is important to have a profitable algorithm

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

By using an EA that takes calculated trades based on a standard set of inputs.

How does your risk management plan look like?

After referencing a 16 year backtest on multiple variations of risk inputs I’ve decided on a pair of EA risk settings that should limit the drawdown from approaching the maximum allowable loss.

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

The time constraint on the Challenge was much more difficult than expected. At first, it seemed very doable. But having to cut back on risk during the extremely volatile start of the COVID pandemonium made it a much bigger challenge to reach the goal in time.

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

Risk management without a doubt. Knowing when to cut your losses and when to trade with lower risk is key. When you allow yourself to get away from these two elements you leave room for emotion to start to get in the way. It’s very subtle, and if you’re not diligent you can quickly get carried away. Another reason trading with an EA makes everything much more calculated and thus stabler in the long term.

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

Emotional Control.

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

Demo trade for as long as you need to, until you are able to show 3-6months of sustainable profit under your belt, before you ever even think about going live.

 

Trader Brent leaving a great message for all FTMO traders

 

 

Describe your best trade.

My best trade is the combination of 4 confluences, 1. level of Support/Resistance 2. Crossover of Moving Average 8/50 simple. 3. .382 or .618 fib 4. in the longer term 4Hr/D trend direction

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

The Market was volatile, I’m sure it had the coronavirus. Well, the effects of it anyway! a very difficult environment for trading. I overcame it by keeping Target Profits small, mostly 1:1 RR. Not my preferred choice but worked well in this volatile market.

Where have you learnt about FTMO?

I learnt trading for a number of years on my own, but previously, been inspired by a young crew of guys, Daniel Savage and Nick Shawn, who has helped me get back to the simplicity of trading and this has been very helpful.

What was easier than expected during the Challenge or Verification?

The length of time to pass is surprisingly short. I passed both in the 10 days for both Challenge and Verification stages. however, point to remember, you do need to trade 10 days not just make your profit target and then wait it out till you reach the 10-day minimum.

How did Maximum loss limits affect your trading style?

The ability to manage risk was a great push forward for me. I had never traded in an environment before where I knew that if I didn’t behave myself I would be kicked out of the program. I really enjoyed the boundaries, this helped me to be profitable.

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

Enjoy it, keep focussed, turn off the TV, and treat it like your second job. Be ever mindful of Lot sizes,(myfxbook.com, profit calculator) get out quick if a trade is not working out, and keep your emotions out of it. My risk on all trades was between .5% and 1%. Is it worthwhile doing the Challenge? I think every longterm serious trader should be involved in FTMO. I’m actually looking forward to doing the Challenge and Verification again. It is a great test of skill and a great reward at the end … trading $100,000 +$100,000 + $100,000 making for example +5% per month = $15,000 @70%(my cut) = $10,000 per month. For a kiwi that’s currently +$16,000 NZD, that’s a very good months salary here. Oh, and I have to acknowledge that beyond all perceived talent was a desire to involve my Christian Faith in the mix of my trading. I have found prayer and meditation on the scriptures to be a foundational must. After all, I’m a Church Pastor first, trader second. In the photo I’m the one on the left, the one on the right is my wife of 35 years. if you want to have a chat about trading or FTMO then you could email me at brent@annesbrook.co.nz

 

Trader Anurag turning passion into a full-time job

 

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

The most difficult thing is maintaining a bulletproof mindset about proper risk management, not over trading, etc. The way I manage my mindset is by performing morning meditation, followed by a healthy diet, and performing self-hypnosis during bedtime.

What inspires you to pursue trading?

For me, trading is my passion, being a full-time trader it gives me the freedom to work from my home, take care of my family and allows me to have the freedom I’ve always dreamed about since I was a kid. My biggest inspiration is my mom, I’ve always wanted to give her the best life she could ever imagine for herself. watching her daily by my side supporting my dreams, gives me the inspiration to wake up every day, trade and push ahead in life.

Where have you learnt about FTMO?

I got to know about FTMO in the past year from my friend Joyal working in FTMO, if it wasn’t for her I wouldn’t have joined.

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

As I have mentioned before, A bulletproof mindset, followed by consistently following your daily routine, with an optimistic view towards the market, as someone said it very true “90% of trading is pure Psychological and skills come second

How did Maximum loss limits affect your trading style?

I think the maximum loss limit is actually very good, as an investor nobody would like to risk more than 10% of the capital, and it gives enough room to trade profitably. so it really didn’t affect my trading style much,

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

To all the traders who are attempting the Challenge, ” Trading is a marathon”, so don’t exhaust yourself thinking it with short term gains. while looking at the bigger picture.

 

Trader Daniel from the UK

Describe your best trade.

My best trade was a swing trade. I noticed a inverse H&S pattern on GJ forming and took a long just after this which happened to have daily rejections too and held it for over 3 weeks catching over 1000 pips.

Has your psychology ever affected your trading plan?

In the beginning yes, trying to chase losing trades, letting go of this was a major hurdle. Once I overcame this I learnt that finishing the day/week at break even is not failure. Every loss is a lesson not a failure.

How does your risk management plan look like?

Never risk more than 1% multiple positions I will split the risk too. Using a stop loss calculator is a necessity! when your 30% in profit move your stop loss to entry.

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

I know how much I’m willing to lose per trade, never let emotions influence your decisions. If you have a plan and adhere to it you are on the path to becoming a successful trader.

What inspires you to pursue trading?

The opportunity for limitless income. But for me it’s not so much about the money it’s the freedom to work where I see fit. Freedom is priceless. Hopefully with the help of FTMO this will become a reality!

One piece of advice for people starting the Challenge now.

Try a demo first, get used to trading with similar lot sizes to the real challenge, this will get familiar your mindset to possibly larger lot sizes than what your used to, and managing your trading objectives. The great thing I like about FTMO is that it forces you to manage your risk, if your ignorant you WILL fail!