How these new FTMO Traders passed their Challenges? Let’s find out!

Every Wednesday, we bring you a new set of interviews with our FTMO Traders who reached our funding! Be inspired by their stories and get some valuable insight into their trading attitude.

Trader Andrews about his FTMO experience

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

Of course, I do. Sometimes it's really hard because of the fact that I am relatively new trading. But in general, I try to follow it strictly since I know that if I do, I will get profit. My plan has been proven to work so it's important that I follow it as it is.

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

Trade according to your plan it's important. You have to trust your plan, that's why you backtest it first so you can have confidence in it. Patience is another very important thing, not all the time there will be a trading setup, sometimes not even in days so you have to wait until the perfect time comes, it soon or later will.

Has your psychology ever affected your trading plan?

Yes, the common FOMO has made me enter trades ahead of time and thus not follow my rules. Also, the fear of losing profits have made me get out of trades sooner than I would have to. And last, since I live in a zone where the most action happens when I'm sleeping, I still have the bad habit of waking up late so I can see the markets or manage some trade, something that's bad for my health.

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

The Challenge, the shorter amount of time plus the higher profit target makes it more difficult. Once you are on the Verification you feel more relief since you have more time and need to profit less.

How would you rate your experience with FTMO?

Beyond great. Support has been excellent, the times to wait between one phase or the other couldn´t be shorter, personally I have a problem with my broker that was fixed in less than 1 or 2 days so that´s great. I really think it's a great experience, a great company and incredible people working behind it.

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

Backtest first until you trust your plan/system enough so you don't have to be guessing what will price do or what. You have a plan that has been proven to work, has made a profit in the past so follow it. Also, work on discipline once you have, it's easy to break it even once you have full trust. And last, develop patience, do not create trade setups, let them present at you.

Why trader Bartlomiej prefers trading FTMO vs his personal account?

 

What was the hardest obstacle on your trading journey?

To me was trying to build decent capital to trade for a living with small accounts. This was often blown, so to see FTMO do what they do really is a blessing.

Has your psychology ever affected your trading plan?

Yes indeed. For years. I struggled with this in the beginning without even knowing. The process of learning about yourself is just as important as your strategy to use in trading.

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

Self Discipline...Self Discipline......Self Discipline and Patience then only the strategy. I believe loads of strategies are possible if the trader can control him/herself well in terms of self-discipline and control...did I say self-discipline? 🙂

Where have you learnt about FTMO?

I was looking into prop firms and I heard about a few, did my research on ones I found. FTMO stood out for me so decided to give it a go. First time being a prop trader too.

How does your risk management plan look like?

In terms of the Challenge account, I was very risky. I will go very easy on the live funding account to build some growth in my own time without being results orientated. On a 100k account, 5000 in a day is a good size. But I plan to only use 2000 a day in multiple trades without being close to the 5000 mark and be safe that way.

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

Be patient, wait for your chance to shine. The market hands opportunities and be ready to pounce on it with proper risk. It can be a bit stressful but there is no need for that. All about process, if you know what you need to do make sure you stick to it.

Trader Juan describes his risk management

How does your risk management plan look like?

My risk management looks pretty simple, I am always risking not more than 3% on my trading plan if have a loss one day. I just stop for the day and, moving forward for the next day, always we are gonna find a new set up, new opportunities and, the most importance PATIENT IS THE KEY . When I am market executing a trade I just focusing on supply and demand zones with candles stick pattern to be able to get a nice position with profitable trade and risk-free. Always risking 2% 3% not more than that.

Describe your best trade.

My best trade was with spx500 index it was wonderful. Easy and clean. Pretty easy set up.

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

I believe when people doing the Challenge they can get nervous, but about me I always challenging myself. One day I said I want the Challenge complete in one week and, I did it. Next step I was looking for a nice set up to execute, and the first hour on the morning same day you guys gave me the new credential, challenge myself I need to get done today. Just took me just a single one day. However, it could be more days to finishing but it depends on how the market moves. That day moves beautifully for me.

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

Yeah, I will take it.

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

No emotions, 95% psychology 5% skillset ( a lot of BACKTESTING ON THE CHART).

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

Treat trading like a business.

Trader Kok talks about his trading strategy

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

There are three things every successful trader must-have. 1. A profitable consistent trading plan. 2. A success goal for yourself as a trader. 3. Strong discipline and consistency. When you possess the above three criteria, the question is not how you succeed anymore, it is when.

How does your risk management plan look like?

Follow your trading plan strictly and treat it like a business. For me, I never try to risk my position more than 0.5% per trade because that's my comfort risk level. No "revenge trading" is also one of my risk management plan. When I have more than 4 stop losses for the day, I will take a break away from the market to refresh my mind.

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

Definitely. A trading plan is a must for every trader in order to be successful. However, if you had a plan and you didn't follow, it is not a plan at all. Hence, I follow strictly to my own plan. For taking losses, I had a risk management plan as mentioned before. For every position I take, it will have to fit all my trading criteria. First, the price must be within my area of interest, normally key resistance/support zone at the higher timeframe, normally H4 or Daily. Second, there must be a price action for me to confirm my entry, for eg a shooting star, Fibonacci Retracement Level, or rejections at key areas. Third, follow your plan strictly. Lastly, let your plan speaks for itself.

Describe your best trade.

I would say my best trade would be GBP/USD in my Stage 2 - Verification Stage. I had my trading plan ready to short GBP/USD. It fit all my criteria to enter but unfortunately I got stopped out at the first time. When the price came back to my stop out level, I still saw the pair meeting my criteria, so I shorted GBP/USD again. With strong discipline and 2 scaling in position, I managed to pass my Stage 2 using just GBP/USD.

Has your psychology ever affected your trading plan?

If I said never I would be lying. My Stage 2 didn't start off well for me. I had consecutive losses for 19 trades (some are small as I cut loss early). However, I did trade according to my trading plan and I believe that it would still work because of all the losses, they would have been a profitable trade if the market was not too choppy. So, I hanged on to my trading plan and with a little bit of luck, I managed to spot on and seize the opportunity.

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

Never let your psychology affect your trading plan, or at least keep it at a minimal level. If it ever affects your trading plan, just shut the screen and take a walk. Come back with a fresh mind and start again. Most importantly, have fun trading and enjoy the process!

 

What are the 5 P's Trader Jamie follows?

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

I only focus on my process, not the outcome of my trades. Once the position is to open my stops and limits will remain until a limit is taken out then my stop becomes dynamic......so I will not do anything until I'm stopped out or 1st limit out. It basically means I have nothing further to do until my 1st take profit is met, leaving me no reason to worry if the position is negative.

Where have you learnt about FTMO?

I only know what I have seen and heard on social media platforms but in the little time I have been trading with you I am very satisfied with the level of professionalism you have shown so far.

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

That's a difficult question for me to answer because I only focus on my process...the outcome will follow so I didn't find it difficult at all. That doesn't mean that I'm saying it was easy ...it is not easy but I didn't have any stresses whilst taking the Challenge/Verification just some excitement along the way :).

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

The 5 P's - Passion, Persistence, Process, Patience and Performance

How does your risk management plan look like?

I LOT SIZE according to account equity and drawdown limits...not to the % return I want to make.

One piece of advice for people starting the Challenge now.

The 5 P's cover everything you will need as a trader.