"Study, set goals, do not overleverage, and control your emotions"

Overleveraging is one of the fastest and most common ways to lose your funds in an attempt to make quick bucks. Combined with managing her emotions, avoiding using unnecessarily large positions was the real challenge for our new FTMO Trader Stancta. Together with Wale, Vincent, Miguel and Amos, they make up the new batch of FTMO Traders that agreed to give us a short interview.

Trader Wale: Trading requires a certain level of concentration and belief in yourself.

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

Trading requires a certain level of concentration and belief in yourself. I believe that a person’s ability to stay focused on a goal and execute it is the most important characteristic to become a profitable trader. In addition, trading is a skill that requires attention to detail, persistence, and self-confidence that the decisions you're making are the correct ones.

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

The most difficult aspect of the FTMO Challenge was having patience in believing in my long trades. I overcome this feeling by meditating and reminding myself that this challenge was the step to bring me closer to not only being a profitable trader but a successful finisher of the FTMO challenge.

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

I managed my emotions by sticking to my plan and not pulling out of a trade prematurely. I understand that losing in a trade is common and is not the end all be all of my success and long-term goals.

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

Yes, I do.

How did loss limits affect your trading style?

Thankfully, it didn't affect me or my trading style.

One piece of advice for people starting their FTMO Challenge now?

Believe in yourself.

Trader Sancta: My emotions were the hardest obstacle on my trading journey.

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

I learned to manage my emotions by listening to Mark Douglass - Trading in the Zone and reading his book repeatedly. After listening to him, I learned how to close trades early and not take it personal if a trade went against me. This allowed me to control my emotions.

What inspires you to pursue trading?

I have always been fascinated with technology, math, numbers, and economics. Growing up, I figured it would have been difficult to pursue a career as a broker (I always wanted to wear a jacket) so I pursued technology instead. However, my love for numbers and wearing a jacket never left my ultimate dream job. As I aged, trading has become more accessible, and I am financially stable to pursue my dream.

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

Overleveraging and my emotions were the most difficult during this journey. I overcame it by learning to relax, setting daily goals, controlling my emotions (not revenge trading), cutting losses early and scaling into positions.

What was the hardest obstacle on your trading journey?

My emotions were the hardest obstacle on my trading journey.

Where have you learnt about FTMO?

A friend.

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

Study, set goals, do not overleverage, and control your emotions and learn how to cut losses early and walk away!

Trader Vincent: Following my plan along with proper risk reward and extreme disciple has made me successful.

Has your psychology ever affected your trading plan?

In the past yes but after passing the challenge in the past and losing it I got serious, and it was a major wakeup call. My trading plan is built so it doesn't affect my psychology. The past couple months I have been as mechanical as possible. If the stars don't align with a trade, I simply stay out of the market. Following my plan along with proper risk reward and extreme disciple has made me successful passing this challenge.

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

By sticking to my plan and being patient and discipline.

What does your risk management plan look like?

The entire challenge I was risking $500 to gain $1,000 so a 2 for 1.

How would you rate your experience with FTMO?

Simply amazing, I've been trading for years and FTMO has made me the best trader I can be. FTMO has also giving me the chance to potentially make a living doing what I love.

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

This time around no but it definitely is not easy.

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

Create a plan and stick to it. Be patient and always risk the same amount every trade. Remember losing is a big part of this game but make sure your wins are bigger and you will be fine at the end.

Trader Miguel: If you are revenge trading, you are less likely to pass.

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

The spread was nice for my style of trading. I enjoyed not having a lot size restriction since I use low Stop Losses 10-15 pips. Sometimes even 7 pips. I’m also glad I can hold for longer the 5% and not be worried about 5% loss of equity and you lose the account.

How did Maximum loss limits affect your trading style?

Not bothered by it. I risk 0.25% to 0.50% per trade and stack trades once I have one risk free.

What does your risk management plan look like?

I have around 30% win rate. 1:5 ROI. I risk 0.25% to 0.50% depending on the trade and take continuation trades to max out winners. I manage my losses and try to take less by looking at 1 min and using my exit strategy.

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

I had 6 losses in a row. I struggled mentally but overcame it by disconnecting and taking a break. To make sure I don’t overleverage or over trade. Managed staying consistent and with good risk management went over the losses and passed.

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

Probability and consistency. Risk management is key to trading.

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

Don’t take it unless you are a profitable trader. If you are risking over 1% you will be less likely to pass. If you are revenge trading, you are less likely to pass. Learn the skillset and control the mind. You can do it.

Trader Amos: You haven’t even scratched the surface.

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

Thankfully, I reached my profit requirement in a few days, so waiting for the minimum trading days to end was the easiest part.

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

I stopped taking short cuts and decided to follow the trading rules we’re all aware of if we decide to remove greed. 1. I only trade based on supply and demand. 2. I keep a 2:1 take profit to stop loss ratio. 3. Keep the main thing the main thing: my relationship with God.

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

Anyone can roll the dice on a trade and make profit but remaining profitable every single day during the evaluation process, tested not only my trading, but my character, motives, and consistency.

How has passing FTMO Challenge and Verification changed your life?

I already have prop firm accounts with other companies, but FTMO is the gold standard. Passing this challenge wasn’t just about the money, it was about the trustworthiness of the company and its platform.

Describe your best trade.

Well obviously, the best trade was the trade I closed in profit that helped me reach the profit requirement. I knew I could’ve made plenty of more money on the trade, but I set my Take Profit at the exact number I needed to pass the Challenge. The rest is history.

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

You haven’t even scratched the surface.