“Trading is just your perception of it”

Trading is not about controlling market prices and which strategy a trader chooses. It is about how a trader can manage and control his emotions. Our new FTMO Traders Rashid, Trevor, Giorgi and Stward also know that this is one of the most important skills for successful traders.

Trader Rashid: "Talking strategy, all you need to know is how to lose efficiently: to lose small and well."

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

The most difficult thing I would say was overcoming 'myself', overcoming all the fears and insecurities inside of me that kept being reflected into the market which led to me taking trades that were not actually there etc. I overcame it through intense introspective work to deduce where the fears etc came from and profusely expanding my consciousness beyond the illusionary 'self'.

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

Discipline.

What does your risk management plan look like?

Maximum 25 pip SL for strong low risk and high reward setups for a minimum 3:1 RRR.

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

I didn't have to manage my emotions as I am no longer attached emotionally to the charts so even if I win or lose it doesn't affect me at all which allows me to be as objective as possible when trading.

How did loss limits affect your trading style?

It had no particular effect on my trading.

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

Trading is just your perception of it. By expanding your own awareness of self and reality and changing your perception of yourself and life itself your perception of trading will change which will help you see the charts and risk in a whole different light, so to speak, and this is within the 'psychological' aspect of trading. Talking strategy, all you NEED to know is how to lose efficiently: to lose small and well. Once you learn how to do this with your strategy you will earn the money you desire.

Trader Trevor: "Know your strategy and have tried it on a demo account at least once."

What does your risk management plan look like?

My risk management plan is very simple, I use a Forex calculator to risk 1% of my account so that I may gain 3%. When trading, if I lose 2 trades in a row, therefore losing 2% of my account, I will be done trading for the day, keeping my risk to a minimum. Also, never taking a trade without having a Stop Loss and Take Profit.

Where have you learnt about FTMO?

I work with IM academy and I heard about funded accounts and FTMO is one that I believe offers the best structure for a disciplined and consistent trader.

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

The timeline is what is hard, when I didn’t know my risk management as well, I still didn’t trade over the daily losses but had a hard time being able to gain the amount needed to be earned in the time limit. If I have a set up I have been waiting for, it's hard when my time limit is up before that trade comes to passing.

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

Knowing where the markets are and consistency, looking at mark ups, backtesting and being in control of your emotions.

Describe your best trade.

My best trade was taken somewhere around 8 in the morning on Gold, and I had it marked up for a week. I took it only seeing a glance at the charts but knew where it was going. I went and did other work the rest of the day and came back to see it $4,500 in profit.

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

Know your strategy and have tried it on a demo account at least once. You will know you can make it then and just need to work on the emotional side after that. Biggest thing is though to use a Lot Calculator because it will save you from losing more than you want but also gain more than you thought.

Trader Giorgi: "Strongly believe that FTMO is a fair company."

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

As I have been trading already for more than 8 years, I do not have any luck factor in my trading. I have had huge experience in trading in my life and currently I am living off trading and am planning to do so in the future.

Describe your best trade.

As I mentioned, I have been in trading for more than 8 years and I had of course many good trades during my life and it is hard to mention one of them (I guess you are asking not during my Evaluation Process but in whole). If you are asking during the Evaluation Process, of course, it was shorting GBPUSD from the 1.21245 level.

What inspires you to pursue trading?

The main reason why I chose trading already 8 years ago was that it gives a complete freedom to a person in choosing the place of living, deciding on the amount of time you want to work (in this case to trade), have also huge time for developing in life and, of course, the main reason is that there are no limits in success and simply everything is up to you.

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

Yes, I do. I do not use any indicators in my trading like MACD or RSI because I do think that they do not work and show only the things that happened. The main thing I use is volumes taking the paid data directly from CME and also option zones, with the help of this instruments I am trying to identify the behaviour of big players in the market (as I do think that only big players are able to move the markets the way they want) and follow them, that is my key to future success.

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

I do not think that there were some difficulties as I am taking this process not for the first time, the main thing in trading is to strictly follow your strategy at any conditions so this would be my little advice to everyone who will be passing the FTMO Challenge.

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

Strongly believe that FTMO is a fair company. As everyone, before taking the first Challenge, I also had many doubts if FTMO really give payouts and if your company does not do everything for people to fail. After the 5th month with you I could say that yes, FTMO pays all the pay-outs strictly day in day as written and, in terms of support and trading conditions, it is also great so my advice would be just to trust the process!

Trader Stward: "Those who seek success in this business must understand that the ability to control oneself is a real skill set."

What does your risk management plan look like?

Simple. I shouldn’t have to take a hard guess on what lots or positions I should take if the chart makes no sense. I don’t trade it. I once heard that the most effective way to win in casinos is to walk out as soon as you walk in. Trust me, it’s true.

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

Patience. Not just with the chart, but with yourself. Being a trader is not easy because it’s a you vs. your game, those who seek success in this business must understand that the ability to control oneself is a real skill set. It’ll get you paid.

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

I didn’t. I just know how to guide and control my luck, staying away from risky positions. In the book “The Psychology of Money” it’s explained how every scenario in your life is outputted by luck or risk, those who succeed most often are controlling that luck and staying away from risky business. I’ve learned to do the same thing.

Has your psychology ever affected your trading plan?

Yes, as a young trader I’ve had many moments where the chart would speak to me and make me think irrationally. Once I realized that psychology was 75% of the work, I never looked back since.

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

Having a strong why. Having a trajectory for yourself. You’ve got to know where you’re heading, and why you’re heading there. That’s extremely important. Those who can’t see themselves past the fancy cars and huge bank accounts have a very tough time seeing results in this business.

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

Take your time. Your success is dependent on you. The trader.