Interviews with new FTMO Traders

Welcome to this week's article where we talk with our new FTMO Traders who recently got their FTMO Accounts. They were kind enough to share their insights and tips that helped them get funded. Enjoy!

Trader Elwaleed from the United States

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

I have a system in place to enter my trades. I have three setups. The first is trend continuation off trend line. The second is break and re-test of structure. The third is trend continuation using structure and Fibonacci replacement. Over the last few months, I have implemented a strict risk management plan, so I am able to control my emotions and manage my account. I used to not follow my plan but after enough losses I began to strictly follow my system because I understand the consequences.

What was the hardest obstacle on your trading journey?

The hardest obstacle of my trading journey was patience. I wanted to make money in the market everyday and ignored the fact that I need to wait for the market to set up. I would trade at the worst times and by the time the move I was waiting for comes, I already lost too much money and cant take advantage of the move. Once I began to stay patient and only trade when my setup comes around, I was able to be to make more profit, limit my losses, limit my emotions, and reduce my stress while trading.

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

I use confluence to eliminate the factor of luck in my trading. I have specific setups that I look for and when I have confluence with multiple signals telling me to enter a trade I understand why I am entering and what I am risking. I give my trade room to breath and only trade if my pre-trade checklist is complete.

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

The Verification was easier than the Challenge because the profit target was smaller but I understood that I needed to view both tasks as equal. The reason is If I had traded the Verification task with the mindset that it was easy and didn't deserve effort, I would have been more prone to trade reckless and abort my trading plan.

How would you rate your experience with FTMO?

The FTMO experience was beyond amazing. The Challenge increased my trading self-esteem and improved my risk management. Trading an account size this big showed me that 1% is more than enough risk to make a good amount of money and that I can remove a huge aspect of emotion in my trading.

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

I would tell other traders to be patient. Everyone wants to finish the Challenge in the shortest amount of time but there's no rule that states that. Don't trade multiple times a day and increase lot size just to finish fast. I was down 4% on my account before I completed the Challenge. Trade your best setups, believe in yourself, and be patient.

 

What makes trader Kevin pursue trading?

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

Of course!, This the 100k account is just one step of the journey.

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

It gives me a sense that all the hard work that I have been putting in is finally beginning to pay off.

What inspires you to pursue trading?

I want a better life for me and my family, this is bigger than me. My purpose in life is to inspire and to be a walking testimony for others to see and look up to.

I want to help others and be an example for that person that was in a dark place just like me with no direction in life, I often feel like trading changed my life and once I started taking it seriously as if my life depended on it, I began seeing results.

Seeing all of these successful traders everywhere, I began asking myself why not me? And, so I did everything in my power to be where I am today!

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

Staying far away from the 5% max daily drawdown that is provided for me.

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

Yes, I am fairly strict about it. I kind of revised my plan, so I can stay far away from the limits given to me.

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

You only lose when you give up.

Do whatever is necessary to find what can be corrected from your trading, whether it be technically or psychology.

Emulate habits of great traders and live to be able to trade the next day.

I remember reading through answers to these questions months ago and taking bits and pieces from FTMO's great traders. The journey is not easy at all and you must understand that this is a marathon and not a sprint.

Trader Samuel about his best trade

What inspires you to pursue trading?

I love how the markets provide me an opportunity to learn something new every day. This keeps me motivated and inspired to keep trading day after day. Trading is never boring for me!

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

Sticking to your rules-I find that whenever I deviate from my trading plan I lose money.

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

Allowing my trades to hit their profit target. I closed my winning positions too early during my Challenge and Verification. I need to do a better job with holding on to winning trades until they hit my profit target.

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

Being open to learn-The markets are constantly changing, so traders that take the time to learn from the market will adapt and succeed.

Describe your best trade.

During my last Verification, I made $2,079.00 shorting GBP/JPY. I am proud of this trade because I followed my rules and got in at a great entry price.

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

Don't expect to become an expert overnight. Trading is a marathon not a race. I think new traders should be happy with small incremental improvements in their performance. Expecting radical improvements in a short time frame will lead to disappointment.

How did trader Gregory overcome difficulties during FTMO Challenge?

Where have you learnt about FTMO?

I learned about FTMO through social media.

How does your risk management plan look like?

I risk between 0.5 - 1% of my account and will never have more than 2 trades open at once. Before entering any trade, I calculate my position size using my max risk (0.5-1%) and the distance between my entry and stop loss. My stop loss is determined by market structure and is never arbitrary.

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

The most difficult aspect of the Challenge for me was having a set profit target.

This put me in a mindset that caused me to over trade in the beginning of the Challenge by trading pairs that I have not thoroughly back-tested and as a result I came very close to breaking the daily max loss.

After this, I took a couple of days away from the market to refocus. From that point on, I focused only on pairs that I have history and success with.

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

I trade mechanically with a rigid set of rules. This allows me to eliminate any luck and put emotions aside.

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

Knowing that my strategy is profitable, I focus on the process of my strategy and not the outcome of each individual trade.

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

Have patience, be disciplined and have no expectations from the market. Focus on the process of your trading strategy and the profits will follow.

 

Trader Yinliang from Singapore

 

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

The 100k funded account gives me the potential to really show my trading abilities and I plan to max it out. For profitable traders who are struggling with capital, look no further than FTMO as it can potentially change his/her life.

What was easier than expected during the Challenge or Verification?

Achieving both stages in just 10 minimum trading days.

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

Losing is part of trading and I train myself to not get emotionally attached to it as much as possible. Nothing goes your way all the time.

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

Patience and proper risk management. With proper risk management, even if you have the best strategy in the world, you can still blow your account. Learning when to stop trading is key too. After a string of losing trades, a key skill is to be patient, take a step back and look for the next best opportunity instead of revenge trading and eventually wiping out your entire account.

Has your psychology ever affected your trading plan?

I geared psychology into my trading plan so that I do not get overly attached emotionally when I face losses. I've improved ever since I started.

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

Find a strategy that works for you and do not gamble.