Trading is a game of probability

“Trading is a game of probability”. That’s the feedback from our traders and we couldn’t agree more. Check out new interviews with our latest FTMO Traders and inspire yourself to be the best trader you can be!

Trader Scott – “My risk management saved me.”

Describe your best trade.

Stacking positions on EURJPY, for a total of a 9% profit. I ended with 4 positions on this pair in one week, buying every retrace, was trending perfectly and full of confluences.

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

Yes absolutely

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

Verification stage I was actually down -9.5% which is nearly failure. I got into a loosing streak but managed to turn it around. My risk management saved me, and I proved to myself I have a stronger emotional control aspect than I originally thought.

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

Strong Psychology comes with time but also training. BSAPPSS FX psychology course definitely moved mine forwards. Plan the trade and then trade the plan, I did not falter on this.

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

Yes I plan to run 3 x 100k accounts but merged into one.

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

Thoroughly study the rules for FTMO and make sure you stick to you trading plan throughout.

 

 

Trader Simon – “Take your time, it’s not a race.”

 

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

Patience, waiting for the best/most solid setups and consistancy.

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

Yes, always based on a number of confluences I tend to stick with. Generally 1% risk per trade.

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

Strong emotions, not panicking or stressing out when a trade goes into drawdown, not every entry can be to the pip. Also, losses happen, its part of the game so forget about it and move on.

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

It’s something I’ve been working towards for about a year now, passing has made me happy but its only the start, I haven’t achieved anything yet! When I start seeing the % go up and take profit splits, that’s when I’ll feel as though its changed my life.

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

Most difficult thing was panicking because it was the challenge/verification so quite often wanted to bank profits rather than hold whereas normally, would be happier to hold.

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

Take your time, it’s not a race.

Trader Charlie –  “Remember trading is a game of probability.”

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

By taking full responsibility for my actions and by noting down every single thing I do when it comes to trading, allowing me to reflect back on certain situations and learning from both bad decisions and good decisions.

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

At first, I found it difficult to take profits off the table whilst still letting some of the position run as I was thinking of the potential if I let the whole trade run what my R/R would be. When in reality, taking profits off the table along the way has been one of my most profitable skill sets and disciplines. This challenge I have really practiced this discipline.

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

Yes I have a very strict trading plan, I have certain criteria’s that need to be met before I enter a position.

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

I’d say at the beginning as I mentioned, having the discipline to take chunks off my positions along the way was difficult as I wanted the maximum R/R but in fact by doing this I was banking profits whilst detaching emotions and letting trades run to their full potentials.

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

RISK MANAGEMENT! 🙂

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

Know what you’re looking for, have you’re own rules and own criteria’s you need to see and understand before you jump in a trade. Another big tip is get to know a few pairs really well so you can begin to really learn key levels and key characteristics of the pairs (or pair) you choose. And of-course, manage your risk, sensibly, and consistently. Remember trading is a game of probability, in the long run you will come out on top because you kept to your plan and to your risk parameters.

 

Trader Vandan – “The role of luck in trading decreases as sample size increases.”

 

 

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

The difficult part was facing the reality of having a deadline and having to make 10% profit by that time. Because in trading, the only thing that is in your control is your position size, entry and exit. To overcome this target & time limit pressure, I just focused on the things that are in my control. So I just stuck to my trading plan and was focused on taking one good trade at a time.

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

The role of luck in trading decreases as sample size increases. So I had to make sure that I take enough trades so that the luck factor doesn’t bother the outcome.

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

When the deadline comes closer, I somehow wanted to take more trades and quickly reach that profit target. So sticking to the plan certainly became difficult when the deadline came closer, especially in the verification because there is already so much at stake. But it is really important to follow the trading plan for optimal results.

 

 

How did Maximum loss limits affect your trading style?

The maximum as well as the daily loss limit helped me a lot with my risk management. It made sure that I don’t over leverage or risk too much on a single trade.

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

Yes, I do have a trading plan and I do follow it strictly. I mean, that’s the only thing you have to be able to do as a trader to be really successful.

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

Understand that trading is a zero-sum game. If you win, someone else has to lose. So you always have to be at the top of your game and keep studying your opponents if you want to sustain in this field. Secret of profitable trading – Back test. Find a profitable strategy. Apply it in real markets. Fail. Repeat this process till you succeed.