Starting new quarter with another bunch of successful FTMO Traders

The month of March ended and we are starting April with yet another bunch of successful FTMO Traders. We refreshed our questions to keep the content more exciting. As always, enjoy the article and be inspired by their success stories!

 

Trader Lendarius from The United States

What inspires you to pursue trading?

The vision to live the life that you want to live and not how others see that you live your life. Just initially the thought of the potential of financial freedom and the doors that it can open pushed beyond my limits in this passion.

What was the hardest obstacle on your trading journey?

Psychology was the hardest. Getting over the “get rich quick” mindset and treating trading serious. I also had to get over ‘over-trading’ and form the habit of forming a plan and sticking to that plan.

Where have you learnt about FTMO?

I learned about FTMO from my mentors Raul and Daniel. They gave me the blueprint to trading. If it was not for them, I would not be here today!

Describe your best trade.

Haha, actually that was my last trade on the verification. When US30 hit the circuit breaker and I sold. Fundamentally and Technically Backed.

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

Yes, I will have 3 by the end of this year!

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

I want to say have a definite plan and a definite goal. Anything is possible. Never let anyone tell you differently. It doesn’t matter how long the race takes as long as you win it!

 

Trader Adonis about the importance of risk management

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

The key for long term success in trading is having a solid consistent strategy but most importantly is having very good risk management anywhere from 0.5-3% of your account per trade.

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

I managed my emotions by following my risk management. As long as I knew I was risking the right amount, mentally I was still good and knew I could pull through. This is because my wins are much greater than my losses.

Describe your best trade.

My best trade was a USDJPY long on march 16th. This trade was placed on my 10k Verification. The reason I’m really proud of this trade is due to the fact that with a 10k Verification (Aggressive risk mode), you’re only required to make $1,000. With this trade, I made $10,810 which completed that Verification 10 times over.

How did Maximum loss limits affect your trading style?

I wouldn’t say the maximum loss affected my trading style it was more the Max daily loss.

In fact, I believe the max daily loss changes the type of trader you’re, it constrains you to only trade by FTMO rules (that is by risking 10% of your account no matter your account balance) instead of using your own risk management rules.

In my case instead of trading a 3% risk with a big account, I have to risk something close to 1%. Let me give you an example. Let’s say I start off with $10,000 and I get my account to $30,000. Initially, I was risking 3% when my account was at $10,000 but now because it is at $30,000 of course 3% is much greater on a bigger account which means my max daily loss now can easily get hit. In conclusion, the max daily loss restricts your full potential as a trader and on how much you can make a month instead of it being a fixed % it should be a fixed % to your account balance, not your initial balance.

So a trader who, for example, grows their account 100% can’t risk the same 3% they did when they first started because of the max daily loss.

What was easier than expected during the Challenge or Verification?

Passing both of them in the minimum amount of days. The hardest part was just waiting for the minimum trading days to be done quicker.

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

Follow proper risk management but just remember once your account gets to 5-10% make sure to risk less % as your max daily loss is more likely to get hit. Learn hard – trade easy.

 

Algo Trader Kamil explains why he choose FTMO over the others

What inspires you to pursue trading?

The beginning of my Forex journey dates back to 2011 when I first got inspired attending the National Achievers Congress in London where every speaker presented some idea on how to create wealth. One particular speaker and idea resonated with me and it was just it. Forex.

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

The most difficult thing was to slim down various techniques and strategies known by me to the ones that don’t generate too many drawdowns. It was a helpful process though because due to bad risk management I had to effectively build my account twice during the Challenge. I got caught unaware when gold started to slip and fall, unexpectedly concerning the then looming crisis. In the Verification process, I got rid of unnecessary risky techniques.

Where have you learnt about FTMO?

I previously joined another proprietary trading firm. Their model is also quite interesting but trading robots are not allowed there and the leverage was only 1:3. Utilising algos in my trading and building them myself I started to look elsewhere. Some guy on some forum mentioned your company, I checked it out and stuck with it.

Has your psychology ever affected your trading plan?

I am impatient, want action and it is difficult for me to sit on my hands and do nothing. This is yet often the best thing to do. The large trading account should shelter me from these mistakes because even a small percentage gain is a substantial amount of money.

How did Maximum loss limits affect your trading style?

Yes, it influences my trading in a positive way. Still closing trades during the weekends is still a thing that may hinder me a bit.

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

True wealth is built slowly and consistently. We are in it for a long haul. Don’t try to get everything at once.

 

Trader Paulina from the United Kingdom

What was easier than expected during the Challenge or Verification?

Nothing was easy, but the daily drawdown and overall drawdown is quite generous and gives a peace of mind when trading. I really like how the rules are set not to set traders for failure but help them to grow.

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

The psychological element of things. I had to take a step back and remove the emotional part of trading and just focus on the process.

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

I follow a rigid strategy and I have a solid trading plan with risk management with beneficial RRR. But of course, you have to maintain super disciplined to follow your trading plan, especially after a loss.

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

Yes, definitely. Potentially with my first pay from FTMO.

How does passing the Challenge and Verification changed your life?

I am not sure yet how it will change my life but it definitely influenced the way I am feeling about myself as a trader. It’s a great achievement and I believe trading with you guys will allow me to spend more time with my family and focus on other career goals in psychology.

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

Find a strategy that suits you and then backtest it and screenshot your trades to have enough data to know where your trading is at. Never undermine the psychological part of trading, you sometimes grow as a trader the most away from your charts.

 

Trader Keith and his experience with the FTMO platform

 

What was easier than expected during the Challenge or Verification?

I was blown away by FTMO’s LMAX platform that provides no commission and raw spreads. The amount needed to make and time it takes to become a funded trader was less than I expected.

What inspires you to pursue trading?

Trading is the way out of a 9-5 job that half the world seems to be obsessed over. Most minds do not comprehend what it means to be a trader from home. It is the most secure job in these wild unpredictable times. It is harder to lose your ability to trade than it is to lose your job.

What was the hardest obstacle on your trading journey?

My biggest obstacle to overcome is to not enter big risk impulsively. Often times I have entered a big position before I entered a small position and suffered significant drawdown which is avoidable.

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

There are three keys to trading. 1. Know your parameters. 2. Manage your risk. 3. Take care of your health.

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

I didn’t experience more difficult than what I expected. The trading environment was ideal and the instruments provided were what I wanted.

One piece of advice for people starting the Challenge now.

Be aware of when the day rolls over and your max daily loss resets. It is not when the daily candle changes. It is at 0:00 o’clock on your account MetriX.