Warm welcome to our new FTMO Traders

We receive regular feedback from our traders who successfully passed the trading Evaluation Course and we share bits and pieces with you to get you inspired. Reading these stories every week makes us more than happy and energized to continue on our journey to be the best Prop Trading Firm for traders all over the world. Congratulations to our latest FTMO Traders!

Trader Malaikah – “FTMO has tested my limits and overcome them.”

 

 

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

Managing your emotions when losing a trade is mostly to do with the way that you view your losses. If you view your losses negatively then they will affect you more. However, you want to take every losing trade as a lesson to learn from. A lesson to learn about yourself as a trader, your strategy, your strengths and your weakness. Learn to love your losses.

I have also trained myself to become numb to both my winning and losing trades, if you can’t manage your emotions while you are winning, it will be even more hard to manage them whilst you are losing.

How does your risk management plan look like?

I aim to risk a maximum of 0.5% per trade. This risk management plan ensures that I have low risk per trade, but high profits when successful. This suits my trading plan best as I aim to catch 80+ pips per trade with tight stop losses between 10-40 pips so in the region of minimum 1:2 to 1:8+ risk to reward ratio on my setups.

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

The most challenging part of the challenge and verification is remaining disciplined and sticking to your trading plan. I set out my trading plan before starting both. Trading involves psychological warfare, focus and discipline is key to overcoming the mental barriers we have stopping us from remaining disciplined. This involves, sticking to your analysis, not revenge trading, ensuring each trade taken was thought about rather than gambling. Once you can overcome these psychological barriers, you can overcome anything.

 

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

The key to long term success is having a trading log. Documenting all of your trading and reflecting on them at the end of each day. From this you are able to learn from your mistakes, evaluate why your losing trades were losing trades and why your most successful trades were successful. Through evaluating, logging and tracking you can start to understand yourself better as a trader and your thought process. I also believe developing daily habits which you repeat consistently day in day out such as waking up early, pre-planning your setups for the week on the weekend when market is closed and time tracking how much time you are putting in on the charts each day and not just focusing on the results will give you long term growth.

How would you rate your experience with FTMO?

10/10 – FTMO has tested my limits and overcome them. It has not only helped me become a better trader but more disciplined in my day to day life. It has allowed me to focus on my longterm growth rather than just looking at the short-term.

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

Create a trading plan, have a solid trading strategy, log and track your everyday input and output so you can monitor your progress. I believe having a detailed trading log that you track manually (opposed to just exporting data from myfxbook) will keep you disciplined and focused.

Trader Kyle – “Be highly selective and only trade your A+ setups.”

 

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

Like any performance sport, luck plays a very small factor in trading. Trading is a game of probabilities so I stick to my plan and let my edge play out. I know if i take any losses that my positive RRR will get me to the finish line.

How did Maximum loss limits affect your trading style?

It did not affect my trading style much due to the firm’s generous max limits. It does make you aware though if you begin to trade outside of your risk parameters. It prevents over leveraging and over-trading.

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

Yes, my plan is the result of many years of trial and error.

How would you rate your experience with FTMO?

Excellent. 10/10 thus far.

Has your psychology ever affected your trading plan?

Yes. I believe that psychology is a constant internal struggle. I have traded now for over 5 years and only in the past few years started to make actual progress on my mental approach to markets. I try to completely detach myself from the market psychologically. I find that the more your mental game affects decision making, the worse your performance is. I try to trade un-emotionally. Trading is one of the most mentally challenging career paths that you can take so you must be prepared and work at it every day. Meditation is a powerful tool to become more mindful and work on self-development.

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

Be highly selective and only trade your A+ setups. Then 10% goal might seem daunting, but if you have good RRR, you can meet this goal in only a few trades. Stick to your plan and manage your risk properly.

 

Trader Chinmay – “With proper analysis, risk management and market study, one can be profitable throughout his or her trading career.”

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

Neither the challenge nor the verification was easy but verification was more difficult for me as I took huge losses on my second day of trading, I was able to recover though, but it was quite frightening.

Describe your best trade.

My best trade was USDCHF long, for which I waited for 4 days.

How would you rate your experience with FTMO?

FTMO is absolutely great. The best thing I would say about FTMO are the trading rules. The rules would let you stick to your trading plan and help maintain consistency. No doubt FTMO is created by a group of professional and experienced traders. Huge respect to you guys.

 

 

What was the hardest obstacle on your trading journey?

The hardest obstacle or divergence I faced was to complete the challenge or verification as soon as possible. Greed is the worst enemy in trading. I still remember that I was +$260 and according to my trading plan my daily profit was $100. Despite being in $260 profits, I did not close the positions, I got greedy, I thought of completing the verification in one trade. But what happened was that I took loss worth $388. That was my biggest loss and the worst mistake.

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

With luck, one can earn 2 3 times consistently, but with proper analysis, risk management and market study, one can be profitable throughout his or her trading career. So, while trading I always kept in mind that I am the most unlucky person on the planet, and traded accordingly.

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

Manage risk properly. Lot sizing. Proper stop losses. FTMO is great not only because it provides you with funding, but also because of its rules. The rules make us good at managing risks and also makes us consistent. Just let your trading plan and the FTMO rules sync in harmony, and you would be a profitable trade.

Trader Samuel – “I think that the fact it is a Challenge with strict rules did affect my psychology but in a good way.”

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

I use a positive risk-reward ratio when I place a trade and I use less than 0.5% per trade to be profitable even if the market doesn’t go as expected.

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

Challenge. It wasn’t easy, but if I compare to the verification, I was risking a lot less in the second step to be sure to keep my succeded Step 1 safe.

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

Yes I have my trading plan that I respect, the couple times I didn’t respect it I lost profits I had made.

How does your risk management plan look like?

RRR at least 1:3 Never use more than 0,5% of risk per position, 1% risk total if I have more than one trade open.

Has your psychology ever affected your trading plan?

I think that the fact it is a challenge with strict rules did affected my psychology but in the good way. that force us to be careful with risk management and when we have made some profits, we need to secure them while growing to the next goal.

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

Don’t take to many positions. Find a great set up that fits with your strategy. Sometimes when you over trade you forget to look at important information on different time frames just because you have a lot of position to watch, it uses more of your concentration and I think it is better to focus on one or two moves at the time.