“Trust me, it's not as simple as you think”

The reason most traders are unable to succeed and make money in the long term is because trading is presented as an easy way to make big money or fast money. However, the reality is completely different and most traders realize this too late. So how are our new FTMO Traders Ugnius, Ryan Chandler, Muhammet Halis, and Philip doing in this regard?

Trader Ugnius: “You always need to be clear-minded and keep emotions out of trading, no matter what.”

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

I mainly trade based on price action, TA, and probability, therefore mainly try to enter trades with buy/sell limits, always setting limits on a highest/lowest price point based on analysis. Therefore, I sometimes market-enter if based on price action and I see that my entry will be front-run. But every trade is based on analysis and probability.

How would you rate your experience with FTMO?

Flawless processing and help from the support team. All things were going smoothly, and I had top experience.

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

I would say the biggest challenge was to get familiar with MT5 as I never used it before. Of course, you always need to consider max loss limits before you choose position sizes and SL, but it just puts more discipline and I would not say that it is a challenge, but rather a good thing.

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

Emotional strength - mainly on a bad trading day. When you get some losses, do not try to market smash and try recovering all losses without proper analysis. Patience - follow your analysis and probability. If you have good analysis and entry, even if the market retraces there is still the same probability that your TP will get hit.

What was the hardest obstacle on your trading journey?

Not related to FTMO Challenges, but the overall hardest obstacle from the beginning of the trading journey - learning different metrics, indicators, and analysis types, while trying to find what works best for you. In addition, I need to have strong patience and dedication to keep testing different methodologies and learning all things related to trading.

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

Emotional strength and patience. You always need to be clear-minded and keep emotions out of trading, no matter what.

Trader Ryan Chandler: “At the end of the day, I'm a trader, not a gambler.”

What does your risk management plan look like?

Risk management is vital in order to deliver consistent results. I risk about 1% for each trade, and only if it fits my trading plan. At the end of the day, I'm a trader, not a gambler.

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

I would love to say both phases were the same. But to be honest, the Verification phase was harder than the FTMO Challenge. I guess it's the psychological aspect of things. Thinking about it would be easier since all you need is 5% with double the time you had in the Challenge. But trust me, it's not as simple as you think.

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

This is only the beginning. I have a lot more I'd like to achieve. But passing and becoming an official FTMO Trader, will change my life for the better, insha'Allah.

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

By creating a trading system that has a checklist, a simple algorithmic process that helps me identify whether a trade setup is worth taking or not. I don't just open trades impulsively or for fun, but only when there's an opportunity that fits my plan. There's no such thing as luck for a trader. You either know what you're doing, or you don't.

How would you rate your experience with FTMO?

I've been with FTMO for a while, since 2020 to be exact and I have nothing but the best to say of my time with them. Their customer support is professional and helpful. They remain competitive in the industry and provide the best trading conditions for their traders.

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

Good things take time. To reach the level of an elite trader, you need to put in the work, have a resilient mind, and have faith that it will all work out in the end. You should be able to move from failure to failure without the loss of enthusiasm and before you know it, you'll get to where you want to be.

Trader Muhammet Halis: “Focus on the process, not each individual trade.”

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

Not easy as you think but after countless days and nights it is not impossible.

Where did you learn about FTMO?

I came across FTMO on Twitter a year ago, and since that day, my entire trading strategy and mindset have changed. It's a fantastic opportunity for confident, successful traders who don't have a large capital.

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

I haven't received any formal training in trading. I've been day trading for a year now, and I've been following charts since 2017. I've developed my own trading strategy. I analyze potential price movements, considering all possibilities, and interpret them myself. To avoid being influenced by anyone's ideas or charts, I don't follow anyone. And yes, I am trying to follow my trading plan as I can.

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

I set a daily limit for myself on how much I'm willing to lose. If I start the day positively, I adjust this limit according to my own strategy. Emotions have no place here. I make an effort to cut losing trades early. I feel nothing.

How would you rate your experience with FTMO?

10/10 it’s all good. I haven't had any problems so far.

What would you like to say to other traders who are attempting an FTMO Challenge?

I reached my first funded account (50k) a year ago on my initial attempt, but I knew I had a long way to go. After two payouts, I quit my job and, ironically, blew up my funded account the same day. Later, when my 100k account was just 0.05% away from the Verification stage, I couldn't manage my psychology, entered a losing streak, and blew up the account. Now that I've reached a 200k account, my advice is don't give up. Focus on the process, not each individual trade.

Trader Philip: “Be patient and don't expect instant wealth - making money from trading is a marathon, not a sprint.”

Describe your best trade.

My best trade during Verification made around 5 times the profit of my average trade. My strategy is based on identifying trends and staying in them until they weaken (based on my analysis). This was a particularly strong trend on US30, so I stayed in it longer than usual.

How did loss limits affect your trading style?

I chose to handle the limits by reducing my lot sizes. I kept my TP levels the same, so the knock-on effect was that I got a smaller profit from each trade and took longer to achieve the targets. However, this is a good thing as it has helped me to realize that slow and steady wins the race.

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

Yes. I only trade one symbol - US30 - and I trade 2 or 3 strategies on it simultaneously. I have found through experience that it is much easier to get to know one instrument very well and develop strategies for it than to try and find things that work across multiple symbols.

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

Demo testing, backtesting, automation, analysis - especially of trades that win or lose significantly more than the average.

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

I have coded my strategies into EAs and, for the most part, I do not intervene manually. This has removed the temptation to make emotional decisions. I have extensively tested the EAs and I trust them. I do monitor them of course and make changes every now and again if it looks like market conditions have changed significantly.

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

Be patient and don't expect instant wealth - making money from trading is a marathon, not a sprint.