The month of August is here with new FTMO Traders who recently got funded

The month of August is here and we would like to welcome our new FTMO Traders in our ranks. Have you ever failed? If so, stand back up and never give up. That’s one of the best advices our FTMO traders give. Get inspired by their success stories!

How trader Kareem got funded after one year of trading

 

How did Maximum loss limits affect your trading style?

The Maximum Loss trading objective has allowed me to better manage my total trading account. This is excellent to have for any style of trading especially being a swing trader, I am always looking to capture bigger market moves. By paying close attention to the maximum loss trading objective, I am able to better trade with appropriate lot sizes and avoid harsh drawdowns.

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

The first FTMO Challenge was a huge success, I started the Challenge at the right time with excellent market conditions. However due to my impatience, I decided to start the Verification challenge right away while market conditions were choppy and as a swing trader, I do not like trading ranging markets. The direction is important to me and I was happy that the verification allowed you to trade an extra month, I waited patiently for about a month and finally was given excellent opportunities to finish the challenge!

Where have you learnt about FTMO?

FTMO is a great platform for traders with any style of trading! It teaches you money management, Trading psychology (which in my opinion is the most important part of any traders success.) consistency, and discipline. These are the qualities that all successful traders possess, and I am happy that FTMO provides these through education and the challenge itself.

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

Drawdowns happen. No matter how successful a trader is, drawdowns WILL happen. It is all about managing your money in order to avoid big losses. I have had many drawdowns during the verification challenge which during this, I controlled my self and never moved my stop loss once. I would always use a position calculator to understand how much I am willing to risk per trade so that way I can manage my money. I would never let emotion take me over during a drawdown, and this is important because of the control of my emotions I was able to avoid serious losses and move on to the next trade!

What inspires you to pursue trading?

Honestly, I am still quite new to Forex Trading. I started about a year ago, however I have spent a lot of my time studying and practicing it. I remember I was first introduced to trading with bitcoin, I did not like trading it so I decided to move to a different market one that has trillions moved daily which in this case got me into Forex trading. I haven’t looked back ever since, I have found that the Forex Market works for me and I continue to gain more knowledge and skills as the days go by. I have always been interested in business my whole life and never came across trading in tell a year ago. I looked at it as a potential business I can start on my own and hopefully grow it, now thanks to FTMO and their funding I am able to pursue my dream of starting this business.

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

The number 1 advice I would give to anyone who is starting out in trading whether its Forex, Stocks, Bitcoin, and/or Commodity futures, Is Trading Psychology. No matter what strategy you have, You always need to check your emotions it could be holding a winning trade and thinking ” I can hold this longer and make more” or moving your stop loss because you don’t want to lose the trade. Containing fear and greed are key to making money in any financial market. When I say Trading Psychology, this also applies to your overall well being. Are you healthy? Are you making your bed in the morning? How do you feel today? are you sad ? angry? happy? These kind of psychological factors play such a vital role in your trading career. You must approach trading with the proper positive mindset. If you are a new trader please look into Trading Psychology and check in with yourself on a daily basis before you initiate any trade!

Swing trader Brian shares details about his strategy

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

Yes, I have a trading plan. I usually am patient in the market, waiting for high-quality setups before executing a trade. I am a swing trader that looks for opportunities on the higher time frame (H4, Daily, sometimes Weekly). I try not to deviate from that as every time I do, I get burnt on losing trades. So now after learning my lesson from many losses over the years, I just follow my plan and my plan only.

Where have you learnt about FTMO?

I have seen ads on Instagram and when I saw a few trading mentors promoting FTMO, I knew it was time to jump up on board.

What inspires you to pursue trading?

Time freedom. Financial freedom. My girlfriend is also a big part of it as well as I want to provide for her and our future family.

How did Maximum loss limits affect your trading style?

It was great as it emphasized risk management. It didn’t affect it a whole lot as I already have a risk management plan in place already.

How does your risk management plan look like?

I usually trade a 1% risk of the account balance for the Challenge. In the Verification stage, I will usually do 0.5% to 1%

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

Psychology is a big part of the Challenge. Do not take the $100k challenge if you don’t feel confident or if you feel anxious paying that initial fee. Start on an account that you can afford to lose that initial fee without breaking the bank. That will give you more confidence in your trades as you are not second-guessing whether or not you want to get into a trade as you are afraid of losing that initial fee that you paid.

 

Trader Elijah shares his trading journey

Describe your best trade.

My best trade ever was probably in Bitcoin a couple of years ago after it entered its bear market.

Unfortunately, it was only on a $100 account, but I was able to get a 400% return in 2 days out of risking 7% on the account. I’ve had several other decent trades worth more in dollar value at above 10R, but that Bitcoin trades stands out to me the most.

What was the hardest obstacle on your trading journey?

My hardest obstacle has always been my own mind. Growing up as an athlete I’ve been raised to be competitive and to fight through adversity. Fighting through your trades during a losing streak doesn’t quite work the same.

There are other psychological qualities that I possess as well that may hinder my trading performance, so its very key that I make sure that I am aware of my emotions and mental consistency to prevent myself from making unnecessary mistakes and trades.

How would you rate your experience with FTMO?

I would absolutely give FTMO 5 out of 5 stars! What FTMO is able to do is honestly life-changing. Making the profit split, trading objectives and rules as far as can be – I know of no other prop firm that has these types of qualities and still being accessible online! People like myself do not have access to capital like this, and it makes it a possibility to trade much sooner as a full-time career.

How does your risk management plan look like?

I typically risk 1% per trade and minimize my open risk by making sure I don’t enter several trades at the same time. Keeping my open positions at a minimum reduces my correlation exposure to the market. I try to be as moderate and objective as I can when it comes to moving my stop loss towards or pass break-even, which also helps reduce risk. Once entering a losing streak, I also tend to reduce my risk, and then increase it again as I begin to get back to winning. I look for higher R setups, which is my win percentage tends to be lower; but in the end, this is what works for my personality.

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

I absolutely believe that having firm trading psychology is the most important tool. There are an infinite amount of profitable strategies out there, but why do so many people struggle so much? It is often the mind that the trader battles with, not the market. I often say that the way we view and trade the market is only a reflection of our most inner qualities. Good trading systems and strategies are important, but how you handle yourself before, during and after a trade are most important.

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

Trading is not a get rich quick scheme. It’s a get rich slowly scheme… unless you have FTMO 😉

 

Trader Jose puts emphasis on controlling risk and following the trading plan

 

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

I do. I have the technical rules that I follow in regards what to look for to enter a trade. I also like to specialize in just a few pairs (mostly the British Pound) and follow it’s movement closely.

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

I just knew I had to be very precise and selective with when I would trade so I could hit the goals smoothly during the time period that was specified.

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

The risk was always calculated. I have designed a plan in which I can make profits even If I was to lose more trades than the ones I win. I focus on higher Risk/Reward Ratios and a consistent % risk. So all decisions are taken based on technical rules and managed risk. Not emotions.

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

Discipline to follow and stick to a plan. Also, pay heavy attention to details.

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

The first time I did the Challenge I failed it because I felt I needed to hurry, so I started looking at pairs I didn’t usually trade. The second time I decided to just stick to my plan and be more selective and patient, make the process mechanical.

One piece of advice for people starting the Challenge now.

I’d advise them to keep their risk-controlled and consistent at all times. Focus on high risk/rewards and to be patient.

Trader Deivid and his life-changing FTMO experience

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

Before entering the market, to buy or sell, I calculated my stop and tp trying to have a risk of 1:3 minimum and that helped to know how much the account would be, if the trade was good but in a pair that is very volatile, the lottery decreased and I tried to leave with a minimum of 500 pips a week, which is why if I played stop loss, I could emotionally recover and meet the goal.

How does your risk management plan look like?

1:3 minimum although in the Verification it was always higher between 1:3 and 1:10

Has your psychology ever affected your trading plan?

There were times that I wanted to increase my position size, but I always tried for the 10K account not to exceed 0.60, and to depend on the price route, so if I was afraid, what I did was decrease the lottery but never increase it more than 0.60.

How does passing the Challenge and Verification changed your life?

It is a very great opportunity that really changed my life, first because it allowed me to have more confidence in myself and my knowledge, it showed me that I can achieve great things with trading and economically in my country Colombia, manage a 10K euro account doing a 3 % is a lot of money that will give me financial freedom in my country.

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

My mind and thoughts were a big obstacle because paying the Challenge in my country is difficult and it is almost a month of salary only for the 10K account, I thought that I am in a job that I do not like 8 hours a day and I had a great opportunity in front of me, so it was the same pressure that I made myself, that was my biggest challenge.

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

I would like to tell you that whatever happens do not give up because it is an incredible opportunity and it can truly change a life just as it did with me and I can live on what I am passionate about, so lose one, two, three times keep trying if they have been previously demonstrated they can in a demo account for example.