FTMO Traders joining us this November

With the new month, we bring a new episode of interviews with some of our latest FTMO Traders. Let’s have a look at what they had to say about their FTMO Challenge and Verification.

Trader Patrycja – I want to be better and better

Has your psychology ever affected your trading plan?

So now I try to stick to the rule of max 2, 5 lots, narrow sl, not keeping losses, but minimizing.

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

It cost me a lot of effort, work, and subjecting my last life to the challenge, but I know it was worth it.

I know that this effort cannot be wasted, so I have the rules in place before I start trading to follow them because that can give me a steady, good income.

I am very satisfied but I am not going to rest on my laurels, I want to be better and better and constantly learn to have better entries and better effectiveness.

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

Yes, of course, I have such a plan prepared and I am trying to fulfill it.

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

I think the worst thing is to start. It’s best to have a plan prepared what I want to play more or less tomorrow, what moment I am waiting for, what profit I want to get, what possible loss I accept, which will not burden my psyche the farthest days of trading.

Where have you learnt about FTMO?

A friend told me about FTMO.

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

If you have a strategy and it has been working on the market for a year or more, you achieve regular profits thanks to it, do not be afraid, just like on the market and on a challenge you may have a worse day and suffer a loss, but the next day you will cope.

It is important to give SL that you are willing to accept, if the sl is too large the loss can be significant and it will negatively affect your attitude to the challenge and make it difficult to trade in the following days. Remember not to try to overcome the challenges too quickly because it usually ends badly.

Be careful and you will reap long-term profits and build a regular income.

Trader Christopher – The most difficult thing is creating self-discipline with trading

 

Describe your best trade.

It came during the first month of verification. It was a long on XAUUSD that I scaled into multiple times. That whole week I was dialed into gold and rode it up and down.

Where have you learnt about FTMO?

I learned about it through my mentor.

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

Both were about the same. The most difficult thing is creating self-discipline with trading.

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

Whenever I enter a trade, I am OK with losing that amount. It’s all about risk management. I always take a break after a win or a loss to start fresh on the next trade.

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

I think you can have a lucky day or a few in a row, but to be consistent trading takes skill, not luck.

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

Stick with it. There will be ups and downs. Continue to learn from your mistakes so you don’t repeat them.

Trader Oliver – I felt the market was against me

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

Hi there hope you are all great, I’d like to say first I’m thrilled to be aboard, yes I will be attempting to manage the maximum amount allowed of 300k 🙂

What was the hardest obstacle on your trading journey?

Focusing on my mindset and remaining consistent, I am now taking on daily tasks to remain focused and constantly sticking to my plan.

Has your psychology ever affected your trading plan?

Yes, it has, psychology is a massive barrier that pro traders need to break through and come to terms with to better themselves, I’ve found out I have learned more from my losses than my winners which I’m sure every trader feels.

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

Yes, I stick to my trading plan and I occasionally add to it to better improve my trading. I use a website called notion to track my trades (mainly losses) to see what went wrong and how I can avoid it in the future.

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

At the start of my trading career, it was a massive problem for me taking losses, I felt the market was against me and that I had to make all my money back quickly. Now if a trade isn’t going my way and has broken through a new key level, I will close that trade to minimize losses and look for a better entry.

I’ve learned that patience is key and you will always be in a worse position if you revenge trade. Sometimes taking a break is all you need to come back with a fresher head/mindset.

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

Stick to your plan, if you don’t have one, make one. Don’t over-leverage, If you lose 3 consecutive trades in one day, stop trading that day. Don’t revenge trade, if a trade isn’t going your way, close it. Almost ALWAYS use stop losses.

Trader Stuart – walk away when you need to reset your emotions

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

Definitely having a robust trading plan, a commitment to continual self-improvement, and strong self-discipline. Trade what you see!

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

It allows me to further expand my trading goals and objectives to incorporate both my private capital and develop a trader relationship FTMO. This will allow me to scale and grow my long term trading objectives.

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

Bloody hard work. Hours in front of the screens constantly evaluating the charts and my trades. Understanding my emotional state at different times of the day/night to better gauge my best trading times and walking away from the screens when I started to feel loose with my plan or emotions.

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

Starting the verification with some personal issues that clouded my thinking and meant my trading was off. I had a 3.7% DD in the first week and I needed to trade back to BE so I could reset for a fresh run into the target.

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

The second challenge was very quick – 4 days. Verification was much better once I was back at BE.

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

Have a clearly defined trading plan, know your edge, review your trades, and walk away when you need to reset your emotions.

Trader Mark – I follow the plan and trust my EAs

mark

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

I think the most important characteristic of becoming a profitable trader is to master money management.

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

The key to long-term success in trading is to keep upgrading your skills. One strategy might work for some time but may eventually be less profitable as more traders know of it. Adapt.

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

I mostly trade using Expert Advisor so yes I follow the plan and trust my EAs.

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

The most difficult thing is the max daily loss limit rule.

Regardless of how much you win in previous days, this resets the next day so you need to be really mindful of your losses and floating. My plan was to stop trading for the day if the loss reaches 85% of the max allowed for the day.

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

I have carefully evaluated the expert advisors I use for this challenge and so I have a general idea of how it will perform. I still believe there’s some sort of luck involved in my passing though 🙂

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

Familiarise yourself with the challenge rules and execute your strategy with confidence.