It's our great pleasure to introduce to you Tomas F. - our latest funded FTMO trader. Tomas trades for quite some time already and it took him a while to come up with a trading system that fully suits him. In the below article, you'll find some strategy hints and a basic risk management idea. We hope this article will motivate especially those of you who are going through the tough times.
Follow your desire! Yes, I invested a lot of time and money in order to succeed in this task to become the FTMO Trader. However, if you believe in yourself and don’t give up, it’s real.
Something about me:
I started trading the foreign exchange markets some 4-5 years ago since I already had some basic knowledge about Forex from the past. I began with building my own Expert Advisors (EAs) as I was passionate about programming and creating my own settings, inputs etc. After deploying my EAs to demo accounts and some live micro-accounts, I realized that they haven’t met my expectations. Instead, I started to test some strategies with the help of technical indicators, followed by scalping. Results of these were pretty solid on both demo and real accounts as well. However, I’ve had a really small trading capital on these accounts and so I was looking to solve this and bumped into FTMO. Surprisingly, my results turned around and I wasn’t on a winning side. My head was the biggest obstacle. After a few unsuccessful Challenges, including the Verification phase, I found my way to pass the entire evaluation process by trading Price Action on higher time frames. I was already testing that system for some time. The results on demo accounts were really stable and I found some stability in this system and my head wasn’t stressed either, hence I used this system in trading the Challenge as well.
How do I trade?
The strategy is based on swing trading and Price Action on higher time frames. The time frames I trade are H4, H6, H8, H12, D1. It’s about bounces at the marked S/R zones after formation of a “decision” candle. I then enter the trade on pending orders based on the closed candle (-Low / +High). To prepare for my trades, I use Trading View application, I place the orders in MetaTrader 5 and I work with the open position as the price action develops. Money management that I apply is simple – I open each position sized 1.5% (in the Challenge – higher profit required) and 1% in the Verification according to available equity.
What did I do well?
In my last Challenges and Verifications, I already managed to get control of my psychology, which was a turning point and led to reaching my goal which took so long to accomplish. As it’s written everywhere, psychology really plays a big role.
What to improve?
Perhaps my exits from trades. I was more cautious in my Verification and when it seemed that the trade will not go in my direction, I usually closed it even at break even. This wasn’t the best decision in many times, I left money on the table couple of times, but one never knows as the price could have continued against me. So I rather chose “capital protection” as there will be other opportunities.
What did I get from the Challenge?
Thanks to the change of a trading style where I found myself, the last Challenge and Verification have helped me thanks to its limits – I forced myself to have maximally two open positions. I would open another trade only in a case that any of my previous positions are already in profit (SL on BE+). This gave me a psychological relief and the Challenge limits were safe.
Would you recommend the Challenge to other traders and why?
Follow your desire! Yes, I invested a lot of time and money in order to succeed in this task to become the FTMO trader. However, if you believe in yourself and don’t give up, it’s real. I like to exercise, doing CrossFit, running, fitness… Here too it’s important to hang on and continuously keep developing the technique and learn from mistakes. I started to apply this thinking in trading as well and the good results reflected my efforts.