New FTMO Traders joining us this February

February is here and so are the new interviews with our FTMO Traders. These traders successfully passed the evaluation process. What was their experience? Find it out in the following interviews.

 

Trader Calvin – “TAKE YOUR EMOTIONS OUT OF TRADING!”

 

How does your risk management plan look like?

Risk management is key if you want to be a profitable trader. I risk 1-3% depending on the setup and will always have a minimum of a 1:3 RR. This allows me to only need to win 3 out of 10 trades to become profitable and really helps my psychology.

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

Psychology and risk management. You need to learn to take your emotions out of trading because it will make or break you as a trader. This is 80% of the trading game.

Describe your best trade.

My best trade was on GBPUSD. I was waiting for a retracement on the 4hr at the 38 extensions then I executed. I had a near-perfect entry with no drawdown and managed to catch 60 or so pips.

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

As explained earlier I think learning to tame your emotions when trading. You will not become a profitable trader if you trade with emotion.

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

What was easier than expected was my ability to not let the numbers scare me. I’ve never traded an account of this size so I thought how fast the numbers were going to move was going to scare me. Surprisingly, this didn’t faze me and saw the numbers as if I were trading a small account.

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

I will not stress this enough. TAKE YOUR EMOTIONS OUT OF TRADING! Trust yourself and your analysis and you’ll be fine. Make sure you have a proven consistent strategy and execute. Many people have a profitable strategy but let the emotions get the best of them.

 

Trader Vipul – “Passing the challenge and verification has given me an opportunity and a platform to make real money”

 

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

Passing the challenge and verification has given me an opportunity and a platform to make real money and confidence to trade with minimal losses and to manage risk.

How did Maximum loss limits affect your trading style?

Having maximum loss limits has enabled me to focus on my risk management and cut out losses when required in order to avoid hitting my maximum loss.

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

The key for long term success is to slowly build a capital whilst managing risk on the trades taken on a daily basis.

Where have you learnt about FTMO?

I’ve learnt about FTMO from other friends who have taken part in challenges and also from your testimonials where I’ve seen successful traders.

How would you rate your experience with FTMO?

My experience with FTMO until now has been great and I’ve learnt a lot about different techniques of trading and this will help me build my knowledge and skill for many years to come.

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

I would say to other traders to take time, manage risk get to know the market your trading and not just jump into any particular trade without analysing the market. Also follow the trend direction of the market that is been traded.

Trader Courtney – “I managed my emotions simply by accepting my loss”

 

 

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

I managed my emotions simply by accepting my loss especially seeing that I already made the risk for potential reward.

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

During the verification stage, I had a bad losing streak and it took me quite a while to complete as my psychology got affected by the loss of another 50k challenge I failed during the current verification phase.

How does your risk management plan look like?

My plan was risking only 1.5% on each trade, no more than 30pip SL and a maximum of 4% on the day. If my 4% is breached then I stop trading for the day.

Describe your best trade.

I don’t think I can identify any trade as best trade as my trading plan for the challenge and verification phase was more of a 1:1.5 RR so I was basically in and out of my trades.

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

The key for long term success in trading is patience, good risk management, good trading psychology and a profitable trading plan/strategy.

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

Utilize the time given and respect the trading objectives. Use the objectives to develop your trading plan, remember FTMO trading objectives are different from your personal trading so you need to develop a plan around FTMO’s objectives.

 

Trader Son – “You should have a proper plan and focus on high probability set up.”

 

How did Maximum loss limits affect your trading style?

The Maximum loss limit is one of the tricky parts of this challenge. I have to consider taking small, medium, or big lot size. I started out with taking a small lost size to generates some profit first before taking a bigger lot size to speed up the profit target

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

The most difficult during the Challenge is when I almost high the maximum loss for one day. However, by taking high probability setup, be patient for the next setup to form. I was able to select winning trade and mitigate the loss and eventually passed the Challenge

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

The Verification was much easier because of its duration and its objective

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

Risk management, high probability setup, patient, and consistency

Where have you learnt about FTMO?

I learned about FTMO through one of my friends.

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

You should have a proper plan and focus on high probability set up. Follow your trading plan

 

Trader Patrick – “Work more on risk management, trading psychology, and believe in your self.”

 

 

What inspires you to pursue trading?

Firstly, the source of income. I lost my job a while ago, and all I’ve been doing is turn my part-time trading into a real stable source of income. And with this step, I really don’t see myself taking any more backward ones, I’m looking at forwarding steps, in this business.

How does your risk management plan look like?

I’d say, there is still room for improvement. Though I’ve been doing okay, I have to work more on that aspect. And as I said, no more unnecessary backward steps, I’m only looking at growth and improvement.

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

Risk management, and psychology. How you react before you place a trade, how you react after closing a very good trade in good profits and how you react after taking a big hit, all that is very important.

How did Maximum loss limits affect your trading style?

Voila, I did hear of FTMO’s challenge way back, and honestly what always came to mind was, “Easy-peezy, drop in a trade with a bigger lot size and swing it for a few days, boom, target hit.” What a dream, lol. Maximum loss limits, have made a better trader, and those have also helped in boosting my confidence in trading, be it placing trades or even letting go of loosing ones. These limits are made me understand more why I should improve on my risk management. These are really good key factors in the whole FTMO work ethics.

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

Communication. Whoever heads customer relations, kudos, quick responses whenever I had queries, and updates whenever there are changes which affect trading. I really didnt see that coming, lol, loads of clients always comes with delays here and there. But was good. Loved it.

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

Yes, most people who come for the challenge have working strategies. Advice: work more on risk management, trading psychology, and believe in your self, in your strategy.