“In the beginning, I often let greed and fear dictate my decisions”

Fear and greed are a problem for virtually every beginning trader. Both traits negatively affect traders' decision making, lead them to irrational decisions and can ruin even a well thought out and tested strategy. What experience do our new FTMO Traders have with them?

Trader Susan: “Consistency and patience go hand in hand with discipline.”

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

Discipline is the most critical attribute for a profitable trader. It ensures adherence to a well-defined trading plan, proper risk management, and the ability to avoid impulsive decisions during volatile market conditions. Consistency and patience go hand in hand with discipline, allowing traders to capitalize on their strategy over time.

How have loss limits affected your trading style?

Maximum loss limits have significantly improved my trading style by enforcing strict risk management. They have taught me to focus on preserving capital rather than chasing profits, encouraging a more calculated approach to entering trades. This rule ensures that I step back and reassess my strategy when losses occur, avoiding emotional trading and promoting long-term sustainability

Has your psychology ever affected your trading plan?

Yes, psychology has played a significant role in my trading journey. Early on, emotions like fear and greed occasionally influenced my decisions, leading to deviations from my trading plan. For instance, I sometimes hesitated to enter trades that matched my strategy due to fear of losses or held onto trades longer than planned, hoping for greater profits. Over time, I learned to manage these emotions by sticking to a disciplined routine, trusting my strategy, and focusing on long-term results instead of short-term outcomes. Regular mindfulness exercises and journaling have also helped me maintain emotional stability, allowing me to trade more objectively and consistently. Psychology is an ongoing aspect of trading that I continue to work on and improve.

What inspires you to pursue trading?

The freedom to control my financial future and the constant challenge of improving my skills inspire me to pursue trading. I enjoy analyzing the markets, strategizing, and seeing my decisions translate into measurable outcomes. Additionally, trading provides the opportunity to achieve financial independence and create a lifestyle that aligns with my goals.

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

I eliminated the factor of luck by relying on a well-defined trading plan supported by data-driven strategies. Through rigorous backtesting, maintaining a disciplined approach to risk management, and consistently analyzing performance, I’ve shifted the odds in my favor. This systematic approach ensures my results are based on skill and not chance.

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

Stay disciplined and stick to your trading plan. The FTMO Challenge is not just about passing, but about developing the habits and mindset needed for long-term success. Focus on consistency, manage your risk, and learn from every trade. Remember, patience and persistence are key.

Trader Ratul: “Risk small, be patient, and have faith in your strategy.”

How have loss limits affected your trading style?

The Maximum loss limit gives me an indication of the maximum risk I can take. As a rule of thumb, I always set my maximum loss half of what is allowed so I can have enough margin to recover and pass, as I have demonstrated in my challenge.

Has your psychology ever affected your trading plan?

My psychology has helped me remain calm and resilient in accepting drawbacks and losses and recovering thereafter. Time is not rushing me and as long as you are in the field there is always a chance to make up.

Describe your best trade.

My best trade has been consistent in trading swing a position on the daily timeframe. Combined with the fundamentals of the world political-economic stance has helped me gain a lot - 10% of my account.

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

It makes me feel positive and confident about my strategy. This is just the beginning. Consistency is key.

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

The no time limit made a big difference in psychology, and that was pivotal in passing.

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

Risk small, be patient, and have faith in your strategy.

Trader Sina: “Risk management is the cornerstone of my trading strategy.”

Describe your best trade.

One of my standout trades was a swing trade on EUR/USD, where I combined technical analysis from my Smart Money Concepts (SMC) course with up-to-date fundamental insights. It was a sell position that I entered after spotting a liquidity grab and identifying a key point of interest (POI). The setup was textbook SMC: the market structure confirmed a downtrend, and I took action by entering the trade with confidence. I set my stop-loss and take-profit levels simultaneously to ensure proper risk management. Ultimately, I closed the trade at the confirmed low, aligning with the downtrend, and secured a profit of over 2% of my entire balance. What made this trade exceptional was my discipline and the precision of my analysis. It was a perfect example of applying learned strategies with patience and confidence, leading to a successful outcome.

What was the hardest obstacle on your trading journey?

The hardest obstacle on my trading journey was learning to control my emotions and develop discipline. In the beginning, I often let greed and fear dictate my decisions, leading to impulsive trades and unnecessary losses. Overcoming this required consistent effort, journaling my trades, and sticking to my trading plan, even when it was tempting to deviate. It wasn’t just about technical skills; it was about developing the mental resilience to trust my analysis, accept losses as part of the process, and stay patient for the right setups. Once I mastered my mindset, everything else began to fall into place. This transformation was the turning point in my journey.

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

Eliminating the factor of luck in my trading came down to building a solid foundation of knowledge and discipline. I focused on understanding market behaviour through structured education, like the Smart Money Concepts (SMC) course, and staying updated on fundamental news that influences price action. I transitioned from gambling on trades to following a well-defined trading plan. This included using a consistent strategy, analysing high-probability setups, and sticking to rules for entries, exits, and risk management. By backtesting my strategies and journaling every trade, I could refine my approach and rely on data-driven decisions rather than chance. The turning point was recognizing that success in trading isn’t random—it’s the result of preparation, practice, and execution. By focusing on process over outcomes, I’ve minimized the role of luck and turned trading into a skill-based endeavor.

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

Yes, I absolutely plan to take another FTMO challenge to manage even bigger capital. Passing my initial challenge was a significant milestone, and it gave me the confidence to scale up. I see FTMO as a great opportunity to access more funding while continuing to refine my trading skills under a structured framework. With my consistent strategy, disciplined risk management, and focus on continuous improvement, I’m confident that I can successfully tackle higher challenges. Managing larger capital aligns with my long-term goals in trading, allowing me to maximize my potential and achieve even greater financial growth.

How does your risk management plan look like?

Risk management is the cornerstone of my trading strategy. I typically risk 0.25% to 0.50% of my account balance per trade, ensuring that no single loss significantly impacts my capital. This conservative approach allows me to stay consistent and confident, even during drawdown periods. Before entering any trade, I calculate my position size based on the stop-loss distance and my predefined risk percentage. I always set both a stop-loss and take-profit level to maintain proper control over potential losses and gains. By keeping my risk small and consistent, I protect my account from emotional decision-making and allow my strategy to perform over the long term. This disciplined approach has been key to my growth as a trader.

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

Stay disciplined and stick to your trading plan. The FTMO challenge is designed to test not only your strategy but also your mindset. Focus on consistency rather than trying to hit big wins. Risk small—no more than 0.5% per trade—and prioritize protecting your capital. Remember, patience is key. Only take high-probability setups that align with your strategy, and don’t chase trades or force entries. Treat it like a marathon, not a sprint, and trust in your preparation. Success in the challenge comes from controlled decision-making and proper risk management.