Another batch of FTMO Traders joining our ranks in November

Once again, we picked five FTMO Traders that were kind enough to share with us their trading journey and what helped them in our evaluation process.

"This is something I have dreamed of for the past 2 years" - Trader Wesley

Describe your best trade.

A short position in the EU. During the London session. All confirmations are lined up. TP hit within the hour. Done for the day!

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

This is a confirmation for me, that I am a good trader. That I belong here. This is something I have dreamed of for the past 2 years. I had mayors swings in my life for the past few months. I was diagnosed with cancer, I went through a lot of emotions. But I will never give up on my dreams. Passing the challenge is for me, the freedom to live or go anywhere and anytime I want in the world. It means the world to me.

How did Maximum loss limits affect your trading style?

It never affected me, I know that my risk management is on point.

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

Trading around the restricted news events was easier than expected. I thought at first that I would miss a restricted news event, but everything was super clear.

Has your psychology ever affected your trading plan?

The plan was and is to always find a good setup. To pass the challenge and that's what I did.

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

Take your time! Don't put too much pressure on yourself. It is what it is! If you pass the challenge, good for you if you don't work harder for the next one.

"Before entering a position I have an analysis, I keep that analysis fresh in mind and trust it." - Trader Jhonsel

How does your risk management plan look like?

My risk management plan is a simple one. I aim to risk less than half of my daily allowed loss. In the event that the trade does not go my way, I still have a good chance to meet the requirements down the line.

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

The Verification was easier.

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

Price moves in a fluctuating manner so I would always try to keep my head in the technicals when I'm seeing drawdown.

Before entering a position I have an analysis, I keep that analysis fresh in mind and trust it. I always enter with a stop loss and use the SL as safety.

There is no point in putting a stop loss if you are going to manually close the trade due to emotions so I keep that in mind as well.

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

The most difficult aspect was understanding the max daily loss, and the daily loss limits.

Since this is based on Equity and not balance it took some getting used to.

As we traders usually look at the end result and not the experience while in the trade. I was able to over come this by understanding the rules of the challenge and risk managing properly so that if i do see drawdown in a good position, is not so much that I fail the challenge or verification. I feel like this made me a better trader, taking more secure entries

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

Risk management is the most important characteristic to become profitable. I feel that if you cannot properly risk manage your money you will be taking unnecessary trades or entering trades with more money than your equity can handle.

One piece of advice for people starting the Challenge now.

I would suggest doing a few FTMO trial runs first as its better to understand the rules and its completely free. The trail mimics the exact way the challenge and verification would go.

"It totally changed my whole life as I am able to become a full-time trader right now." - Trader Chun

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

Yes. Having a strict trading plan is very important in this business. Without a trading plan, you are basically just risking your money. A strict trading plan means that even if the market doesn't go in your favorable direction, you will still be able to manage it well and follow your rules.

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

The 5% max daily loss and the 10% max loss are reasonable but the 10% profit target is the most difficult part of these challenges. This 10% profit target will lead you to have a feeling of FOMO. (fear of missing out ) However, be patient and always trust your system will be the wises choice in the long run.

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

It totally changed my whole life as I am able to become a full-time trader right now. I am hoping to get the 300k USD account very soon too.

Has your psychology ever affected your trading plan?

Yes, the small drawdown will definitely affect your psychology. However, I always believe that there are only 4 outcomes in this business. "Big Win, Small Win, Big Loss, Small Loss". Once you can eliminate the Big Loss in this business, you are almost on the right track.

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

Yes, I have passed the 1st Challenge of the 100k USD account and hopefully, I can pass the Verification too. I am planning to get a 300k USD account very soon.

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

Trading is a very tough business. Always use good money management and risk management. Always remember to set a stop loss as one big loss can eventually take all your profits.

"This is a new stage for me." - Trader Maria

Describe your best trade.

My best trade was a simple market structure setup. It was a short on EURAUD, the price was forming a reversion pattern in a confluence zone and finally it broke the confluence level fulfilling the projection I had in my analysis.

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

I have achieved a goal that I had on my list of things to accomplish in the long term. This is a new stage for me. Definetely, it’s a before and after in my personal life and professional career as a trader.

What was the hardest obstacle on your trading journey?

Dealing with very little time everyday, I was feeling pressure from evaluations while feeling pressure and stress at work full time. It’s been a challenge for me to know how to organize myself technically and emotionally.

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

Having a cold mind, the feet on the ground and an ambitious long-term vision. Above all, doing things right with a plan, checking that the strategies work and analyzing that they can be viable in the long term.

How does your risk management plan look like?

I try not to exceed 1% risk for each position.

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

It is worth taking the opportunity to test your trading discipline. If you pass all the evaluations, it means you are on the right way and you will take a big step as a Professional Trader in your career.

"It will help me gain the capital I need to quit my full-time job to have more time to focus on trading." - Trader Loren

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

It will help me gain the capital I need to quit my full-time job to have more time to focus on trading.

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

The most difficult part was managing my emotions after a losing trade. I would sometimes doubt my analyses because I was afraid to follow up with another losing trade and possibly meet my maximum daily loss.

What inspires you to pursue trading?

The freedom to make money at anytime, from anywhere in the world.

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

Yes.

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

As I am not used to trading with such large capital, seeing drawdown of just a few pips was scary to me at first because it was a large negative dollar amount. I didn't expect that type of fear, but by following my risk management rules, I quickly got comfortable and successfully passed my challenge.

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

Go for the $100k challenge! If you can manage risks (to not exceed more than 5% per day), and meet the 10% profit target of a small account, you should believe in yourself and strive to do it on a larger account! It will change your life.