New FTMO Traders joining our ranks

We bring you new interviews with our freshly funded FTMO Traders. Let’s have a look at what they had to say about their journey to become FTMO Traders.

What was the hardest obstacle trader Darrene had to overcome to become the FTMO Trader?

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

The most important attribute has to be execution, a person could always predict a move or always talk about where the trade is going but if the person never execute then he will always have the mindset I should have got in.

What was easier than expected during the Challenge or Verification?

I think something that was easier than expected was the idea of using bigger lots to achieve more profit in the Challenge. At first, I would only use standards cause that’s all I know how to use but once I started to use 2.0 or 3.0 I never went back any lower.

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

When I was in the losing trade I accepted the risk before I got in, so I knew anything could happen. So I never let a losing trade get to me because with a good RR. I could shake back multiple loses with 1 winning trade.

What was the hardest obstacle on your trading journey?

Manage work and trying to trade at the same time during the Verification phase which ultimately led to me taking more than expected. Had to change things in the last week so I can execute more, with this account I will not have to work and focus more on the trading

How does your risk management plan look like?

I only risk 1-2% on every trade, to spread my leverage out, I only would use 3 per cent if the opportunity percents itself, with a very low stop loss. But every trade has the opportunity to run in my favor just have to execute to the tee.

One piece of advice for people starting the Challenge now.

Advice for new people starting the Challenge would be very discipline to your strategy, never deviate from it because once you start going against it you will now get mixed results and ultimately take more losses than wins from it. If you know your strategy works don’t go against it.

FTMO Challenge allowed Trader Luke to trade full-time

What was easier than expected during the Challenge or Verification?

It was easy to Monitor my max daily loss and max loss. The platform that FTMO provides is precise and clear. I am also able to monitor the pairs that make me the most money and cut the pairs that I consistently lose money on.

How did Maximum loss limits affect your trading style?

The maximum loss combined with the time limit changes the way I trade the verification and challenge accounts. As I have only 30 days to pass the challenge, I risk 1% of my account per trade. With the verification, I get 60 days to pass so I on risk 0.7% per trade. This allows me to have a few more losers and build the account slowly.

Where have you learnt about FTMO?

I have learnt that it is one of the best platforms out there to get funding with. The 70/30 profit split and 10% drawdown of the account really allows me to express my personal trading style.

How does passing the Challenge and Verification changed your life?

I can trade full time and give 100% focus to my trading without worrying about scaling my personal account.

Has your psychology ever affected your trading plan?

When I take a string of losses, I can miss my next trade by being hesitant. Not only does this compound the negative mindset, you beat yourself up having missed a profitable trade that would have wide out prior losses. I overcome this by getting away from the charts, resetting myself and coming back with a winning attitude.

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

You should have a winning strategy before entering the market. Backtest the strategy into your subconscious and build your confidence by executing trades at reduced risk before increasing your risk. Then backtest again and again.

 

Trader Vijay describes his risk management plan

How would you rate your experience with FTMO?

Excellent all around.

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

Control of ones psychological condition.

Has your psychology ever affected your trading plan?

Yes

How does your risk management plan look like?

My main strategy that I will be using will involve 0.25% to 0.5% per trade and includes fixed SL in pips based for the currency pair.

The fixed SL is different for different pairs based on their historic volatility but it always stays the same.

For example, the SL for USDCAD is always 10pips and the lot size is based on the above mentioned percentage risk.

The only thing I modify is how much percentage of the account balance is used to calculate the lot size based on how volatile the market is on any given day.

For example, I may use only 50% of account balance in a highly volatile market day vs using 70-90% of account balance on a day when the PA is smooth and steady.

I have coded an EA that does all of this automatically so that I can trade at a fast pace and also to make the trading more mechanical and not bring emotions into play.

How does passing the Challenge and Verification changed your life?

Passing the FTMO Challenge & Verification has opened doors for me to trade at a level that I couldn’t have done otherwise.

This opportunity will give me access to the capital needed to make realistic gains.

One piece of advice for people starting the Challenge now.

Nothing special. Just be at it. Each failure is a stepping stone for success. We go to years of schooling to become professionals but then we except to be successful in trading on day one.

I was one of those who looked at it the same way in the beginning.

It took me a lot of psychological and financial pain to come to the realization that I need to put in the effort that is due to become successful.

I feel I’m at the point in trading after 3 years where I feel like I have committed enough of my blood and sweat to trading that I’m ready to move to the next level.

 

Trader Mohammed gives valuable advice for traders that are about to start the FTMO Challenge soon

 

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

Yes, I do intend to take on another FTMO Challange to manage a bigger capital in the future. Maybe after a few months of being profitable on this stage 3 account first. It’s definitely something I’m looking to do in the future

Has your psychology ever affected your trading plan?

Psychology has very minimal effect now as I have full faith in my trading plan. I have gone and back tested my plan over and over again to ensure I know exactly what to look for when looking for trades. I know that during the trades I have full faith in my strategy even if it is floating in a loss, I know I will stick to my trading plan and manage the trade accordingly.

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

The emotions for a losing trade should be the same as a winning trade. Having faith in my trading plan and analysis helps manage emotions on a losing trade. It’s absolutely normal to take losses as long as you have a good risk to reward ratio you should be profitable.

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

Yes, I do have a trading plan and follow it strictly. I have full faith in my plan and its something I look back on before, during and after every trade I take so that.

How would you rate your experience with FTMO?

The FTMO experience was a really good one. In trading, we are always learning and the FTMO process has made me learn so much about myself and my trading plan and has definitely made me a better trader.

One piece of advice for people starting the Challenge now.

One advise I would give to people starting the Challenge would be there is no rush to make the profit target. Take your time, enter the high quality trades rather than entering multiple trades at once. Stick to your trading plan that you know works and its all about the marginal gains rather than big profits. Good luck to everyone who takes this Challenge and I hope everyone is successful.

 

Trader Javier shares his FTMO experience

What was easier than expected during the Challenge or Verification?

The achievement of the trading objectives for the Verification was surprisingly easier because the pressure on you is much lower than in the Challenge stage.

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

I made a couple of mistakes during the Challenge, mainly not managing drawdown adequately. I relaxed slightly my entry criteria trying to recover a series of stops and it only brought more loses, of course. Accepting my errors, reevaluating the situation and focusing on my rules from a fresh state of mind the next day proved to be very helpful. As a trader you will inevitably make mistakes, it is how you manage those mistakes which makes all the difference. Never allow a mistake to put you out of the game, learn and improve constantly.

How does your risk management plan look like?

I do not risk more than 1% of my equity on any trade and typically look for 1:2 risk/reward ratio. Also, amongst other things, I try to manage my psychological risk applying daily the 3 set tennis game rule: if I hit two consecutive stops, I am out for the day.

What was the hardest obstacle on your trading journey?

Learning to think in probabilities and learning to execute my trades from a probabilities mindset. You can never say you got the ‘consistent trader’ diploma though, you have to make the effort and earn that consistency every trading day. It is not easy, I am still trying to learn and improve that mindset.

How does passing the Challenge and Verification changed your life?

It has given me the opportunity to challenge myself to achieve an amazingly worthy goal, focus my trading and bring it to the next level.

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

Stick to the trading objectives and rules, completely accept your mistakes and always learn from them, be patient and commit yourself to improving every day.