“I do not believe in luck in trading”

A certain amount of luck is necessary in trading, as in any other business. However, relying solely on luck in trading is certainly not the way to long-term success. On the contrary, every successful trader should do everything possible to limit the influence of luck on their results as much as possible. What do our new FTMO Traders think about the influence of luck in trading?

Trader Abel Sifiso: “Maintaining my discipline and sticking to my trading plan was easier than expected.”

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

I found that maintaining my discipline and sticking to my trading plan was easier than expected. The structure provided by the FTMO rules helped me stay focused and avoid impulsive decisions.

What inspires you to pursue trading?

I am inspired by the potential for financial independence and the intellectual challenge that trading presents. The ability to analyse markets, develop strategies, and see the results of my efforts motivates me to continuously improve my skills.

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

To manage my emotions during losing trades, I adhered to a strict risk management strategy and reminded myself that losses are a natural part of trading. I also practiced mindfulness techniques to stay calm and focused, ensuring that I did not deviate from my trading plan.

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

The most challenging aspect was dealing with the psychological pressure of meeting the verification criteria within a limited time frame. It required maintaining discipline and emotional control, especially during periods of market volatility.

Describe your best trade.

My best trade occurred when I identified a bullish divergence in the RSI on a major currency pair. I entered the trade at a key support level and set a conservative stop loss. The trade moved in my favour, hitting all my profit targets. This trade not only provided significant returns but also reinforced the importance of technical analysis and patience.

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

The best advice I can give to new traders is to prioritize risk management above all else. Always use stop losses, never risk more than a small percentage of your account on a single trade and stay disciplined to your trading plan. Consistent risk management is key to long-term success in trading.

Trader Bonga: “Remember to stay calm while trading and follow your rules.”

What does your risk management plan look like?

I risk 1% (20 pips) per trade. Once the trade is 20 pips in profit, I then move my stop loss to break even (BE). I usually aim for around 100 pips profit a trade (sometimes more). I try to not take more than 3 trades a day.

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

I do not believe in luck in trading, I think it is about skill and confidence. The more time you spend on the charts the better you become.

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

Phase 1 took me 8 days to complete and phase 2 took 4 days, so I'd say phase 2 was a bit easier, I actually expected it to be harder.

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

On the 8th of July I made 246.3 pips on one trade then the following day I lost 189.9 pips, this was due to not adhering to my rules, I removed the stop loss, so instead of losing 20 pips I lost way more. I stopped trading that day (I wrote what I had done wrong and how I was feeling) and came back with a re-focused mindset the following day.

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

Realising how close I am to being funded and staying composed.

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

Remember to stay calm while trading and follow your rules.

Trader Jan Elaize: “Don’t chase the money when you’re a new trader.”

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

To be honest, it wasn’t that easy at all. I failed my FTMO Challenge, but I knew and believed that I’m going to pass the second one and I did. It was very challenging for me and at the same time I had a little fun.

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

Having a clear vision, taking calculated risks, maintaining a relentless work ethic, thinking innovatively, being resilient, and focusing on solving significant problems. However, the most crucial factor is having a strong mindset, as it drives focus, discipline, and the ability to overcome challenges.

What inspires you to pursue trading?

As an introverted person, I thrive on creativity, analyzing things, and complex problem-solving—it’s my forte. Over the past 12 years, I’ve explored various career paths, and I’ve come to realize that trading perfectly aligns with my strengths and passions. I’ve finally found the one career that truly resonates with me.

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

When I lose a trade, I first reflect on why it happened by analyzing the factors that led to the loss, whether they were related to market conditions, my analysis, or emotional decisions. This helps me learn and improve. Then, I let go of the loss, ensuring it doesn’t affect my future trades. I stay focused on my overall strategy and come back with a clear mind, ready to apply what I’ve learned.

Describe your best trade.

My best trades involve thorough market analysis and setup, identifying the right entry point, implementing strong risk management, precise trade execution, and a strategic exit point. I evaluate the outcome and metrics and always reflect on the trade to learn and improve. I don’t take a trade unless all these elements are in place.

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

Don’t chase the money when you’re a new trader. Start by learning the process. Never stop learning. Build discipline. Stay focused. 99% of success is in the mind.