“Trading without a plan is like throwing darts blindfolded and expecting to hit your target”

Trading without a plan may bring results for a while, but it has never worked as a long-term approach. Having a plan and a strategy that will give the trader an edge in the market is the foundation of any long-term successful trader. Our new traders know this too.

Trader L Rogers: “I know we all go through a learning curve of experiences when becoming a professional trader.”

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

After 4 years, I know each trade is a weighted decision of probability I make, with a specific target for profit and loss, and if my trade decision is wrong. I know each trade is an independent decision of its own and as I continue to learn from every trade I place, I also know that the next trade can just as easily be in profit as a bad trade can be in loss. It’s Okay, that’s why we have risk management.

Has your psychology ever affected your trading plan?

I know we all go through a learning curve of experiences when becoming a professional trader. However, being disciplined with self-control and having a specific set of rules for a winning strategy have to be 100% in place with some breathing room for margin of error. This helps me keep the psychology of emotion from being a part of my calculated decision and risk for each trade.

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

Hey, whoever’s reading this – it’s a “Change” of your life. And so, I’m a grown man who’s run multiple companies and I simply just see this as an opportunity to grow my financial wealth and, as of today, – nothing’s changed – but I do look forward to the opportunity of independence it may provide in my coming future. Thank you FTMO!!

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

There was nothing easier than expected to pass the FTMO Challenge or Verification. It was trading as usual to patiently wait for the right set-up and execute my trading plan accordingly.

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

Yes, I do. I don’t believe there’s any other way to trade consistently and successfully. Trading without a plan is like throwing darts blindfolded and expecting to hit your target, sounds ridiculous and it’s just not going to happen.

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

Trade very very small amounts. It has nothing to do with the size of the trade – it’s the percentage of your loss/gain. Master this with a solid trading strategy, risk management and self-discipline to practice, practice, practice, be patient and wait for the market to come to you. You have to move with the Volume Wave Flow of Momentum to be successful and without learning these 3 core disciplines, trading successfully as a profession will never be achievable from my point of view. So, good luck out there because the market doesn’t care about your account and will take the most amount of money from the most amount of people unless you figure out why you have an edge to keep that from happening.

Trader Maximo: “Keep grinding, the world doesn’t stop for anyone.”

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

I think the most important characteristic/attribute is being patient. If you are patient and understand the work you put in, it might not have any effect in your trading tomorrow, but it will in a month from now, that mindset alone can guarantee a better success rate than 98% of the traders in the world.

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

I do have a trading plan, I have very precise entries. I follow it strictly because of the amount of discipline I have created over time.

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

It hasn’t changed my life yet. Looking forward to enjoying the fruits of my labor soon.

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

It was super difficult to lose 4% on the first trading day, thankfully I was able to flush that bad mindset out and continue to work and overcome the obstacles.

Describe your best trade.

My best trade was on my Phase 2. I completed 2.5% in 1 trade. Not on this most recent Challenge, it was a huge Dow Jones drop a few months ago. I was able to pass Phase 1 in 1 trade.

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

Keep grinding, the world doesn’t stop for anyone, and it won’t stop for you. If you really want something, grind hard and stay consistent.

Trader Wakas: “Master and perfect your strategy and journal all your trades!”

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

It has made me a step closer to my goal of reaching financial freedom and the ability to do profitable trading with consistency and treating it like a business with set targets, rules and most importantly discipline.

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

This was achieved by simply setting out an action plan and then applying my objectives to my journal and making sure each trade was then journalled and executed to my trading objective, so as to make my trading simple and easy and to rule out any emotions. It helped me to stay on track and cut out any noise and distractions.

How would you rate your experience with FTMO?

Outstanding. I loved every bit of my trading and the team at FTMO is superb. Extremely fast and friendly customer service.

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

Journal your trades! 100% journal each trade you are executing as it helps you to stay within your trading objectives and targets. It definitely provides you with a bigger picture towards your goal, it helps to avoid overtrading and keep you on the right track whilst you can always look back and evaluate your trading and look for areas that you are weak at and where your strengths lie.

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

Trying to stay on track and not to rush the Challenge. Obviously, reaching the 10K target was something that wasn’t easy as you only have 30 days to achieve. Markets can sometimes be extremely unpredictable hence you tend to overtrade, and it becomes slightly harder when you are in a loss as the target of 10k then becomes bigger with you trying to recover the losses first. However, all in all it’s a stress test and it puts you through a discipline stage and only makes you a better trader towards the end.

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

Master and perfect your strategy and journal all your trades!

Trader Matteo: “Sky is the limit if you master risk management in forex trading.”

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

Drive and hunger to keep learning, discipline, and persistence.

Has your psychology ever affected your trading plan?

Yes, in the past when I was a beginner trader. I’ve been working hard at trading for the past 2 years. I started out on a real trading account in the beginning for the first 12 months. I then kept practicing on a demo account after that as I lost most of the capital I was trading with, and sufficient backup capital became an issue. I’ve been practicing on demo accounts since March of last year, and I have practiced on at least 5 free trial FTMO Challenges. I have huge determination to succeed in forex trading.

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

The Challenge went very smoothly. The Verification was a little bit slower than I anticipated due to slower market conditions but other than that, I was able to be patient and managed to ensure that I secured considerably more profits over the losses that were incurred.

What inspires you to pursue trading?

The financial freedom that forex trading can provide and the overall financial growth that will allow me to unlock a lifestyle whereby I can invest the money I’ve earned to make the money I’ve earned work for me on top of the money I make from forex trading.

Describe your best trade.

My long position on Nas100 that secured a solid 5000 pips of profit. I also made sure that I kept securing partial profits of the position as the trade progressed.

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

You can be an average trader but once you’ve mastered risk management and money-managing discipline, the Challenge is more than doable. Sky is the limit if you master risk management in forex trading.