We welcome our latest FTMO Traders who got funded by our Prop Firm

Yet another week has passed and we bring you new interviews with our freshly funded FTMO Traders. Get inspired by their stories and tips which might help you become the FTMO Trader as well!

Trader Jerry gives an excellent description of the important characteristics of a profitable trader

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

The most challenging thing I faced during this two-step process was the psychological and risk management part of trading. I started to trade live at the beginning of Q3 2016 on my first personal account, so my risk management started high but changed and decreased lower and lower throughout the course of my trading journey. So when I first started the FTMO process I was not quite sure at first on what risk to apply. Even though my risk exposure had decreased, I was still trading on my own account where I am in charge of my own parameters when it comes to risk, gain and drawdown. So to create that discipline when trading someone else fund took me sometime to figure out the right approach for that. Once I established that, I followed my structured plan with discipline which was the fundamental factor to passing the FTMO’s two-step process.

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

By building a framework with the help of back-testing as well as understanding the flow of price from a technical charting perspective. Discipline and risk management is a fundamental part to that framework otherwise it does not work. These are the factors that helped me to eliminate the luck part of my trading and instead made me focus on becoming more consistent.

Where have you learnt about FTMO?

I was referred by someone I know and I also saw you guys on social media.

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

Personally, from my experience in the trading industry, I have learnt a whole lot but I believe there are few attributes/characteristic that stands out on the road to become a profitable trader: Discipline – This takes you a long way in this game because it helps you to stay active without leaving yourself fully exposed, even if you do make a lot of mistakes during your journey which is inevitable. Also, you will be able to reflect accordingly because you are following the rules you have set for yourself, so it can be measured properly with less emotional decisions. Risk management – When this is applied properly meaning looking for good risk to reward setups by also balancing good breathing room for your trades to play out depending on what type of trader you are. I believe it helps you psychologically to avoid chasing setups outside your framework. Structure & Routine- This is where you plan your setups, day and life. Having structure in your day to day activities helps you to plan accordingly and prepare yourself the best you can. This is vital for consistency in my opinion and to also help you achieve the best high probability setups since trading is very demanding and fast-paced depending on what type of trader you are. Approach/Trading Plan – Having a plan that has been tried and tested on demo or real. It is important to avoid free flow trading as I call it when something just looks good rather than being an actual rule or requirement that has been confirmed. For example “price has broken the resistance level and now looking for a retest to emerge before we execute the trade” vs “price looks like it is going to break the resistance level let me jump in” Psychology – Being mentally strong to follow the rules you set as well being open-minded to admit to yourself of emotional errors that might lead to wrong trading decisions, or if the system you have in place does not suit your personality etc. Recognising this will allow you to make the necessary changes to keep improving your edge. Money Management – If you have developed the ability to manage your money/financial situation with discipline in your daily life. There is a strong chance you will replicate that into your trading career I believe because you will be less prone to chase big lottery wins and instead focus on growth and consistency in a conservative manner. Since you will see monetary value positively and negatively when trading. It is important trying to eliminate that emotional side of things as much as you can to make your best decisions objectively.

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

I do have a trading plan in place which I follow with discipline. I have set a few parameters allowing it to be slightly flexible during different market conditions.

One piece of advice for people starting the Challenge now.

Make sure to have a trading plan in place and you might have to make some changes if you are not a day trader or scalper keep that in mind. Go for a test run using FTMO parameters if you are not entirely confident at first. Plan your risk management before so once you start you know what you are working with and looking for. The last suggestion stay disciplined.

Trader Raquel describing her best trade

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

Yes, I do have a trading plan which I follow but I give myself room for grace and also but a little extra success. I used to cut my wins short just to stick to the plan but I’ve learned that some times all it takes is a little more patience and following thru a bigger analysis than just a quick grab and go. I also allow myself to take the losses without emotions and knowing that by following the plan I can not only make the losses back but double whatever I lost.

What was easier than expected during the Challenge or Verification?

Managing the emotional and psychological side of trading

Describe your best trade.

During the Challenge, I had a couple of great trades but one of my best tase days was the day before successfully passing verification, after a seemingly dull and slow week I wasn’t seeing the markets give out what they should’ve but my best trade was actually one that got stopped out with a wick rejection by a stop loss right above and I only made about $9. Why do I still consider it my best? Because I took the time to carefully study and strategically plan for THAT specific trade because the trade was virtually risk-free the entire time and was yes wicked out but the shock didn’t go below my entry which usually happened. It was the move I had set up to swing for the rest of the week as I made other trades thru out the week. Even though it got stopped out it was the most sniper trade I’ve ever taken and it was beautiful watching my analysis play out accordingly.

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

The most difficult was actually during Verification. Even though the profit goal is smaller, it’s a lot more pressure psychologically. I had a streak of losses after wins that really stuck my nervousness and wanted to take out my confidence but I pulled thru.

How did Maximum loss limits affect your trading style?

Definitely made me more conscious of risk management and understanding parameters.

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

Work on the psychological side of trading off the live accounts a much as you need to before entering the live trades because the mind can play many tricks on you and you can’t allow emotions to taint your charts and make you take harsh and irrational decisions

How did Trader Adam deal with the psychological problems he had at the start of the Challenge?

Describe your best trade.

My best trades are when we can clearly see the market’s momentum decelerating in one direction showing us that price is unsustainable on one direction and then we have a very clear move in the opposite direction giving us an indication price is ready to reverse.

How did Maximum loss limits affect your trading style?

Maximum loss limit did not affect my trading at all, through backtesting I was very comfortable with my average drawdown. We can never predict the future but we can read current price action and this allows us to stay out of messy market conditions. Trading in messy conditions can result in multiple losses in a row.

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

Yes, I plan on taking more capital on, I already have 1 FTMO account and have also passed my 3rd challenge. I will continue to plan my trade and trade my plan!

Has your psychology ever affected your trading plan?

I defiantly had some physiological problems at the start of the Challenges as the capital was new to me and also have a time limit. This did add some pressure but again after reviewing plan backtested plan and continue testing I was reassured by my results.

Where have you learnt about FTMO?

I learned that no matter what style you trade FTMO offers a great service and as long as you are consistent and do not place trades due to your emotions FTMO capital is life-changing.

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

I would make sure any trader that wants to attempt this challenge make sure you have a fully tested plan, make sure your plan all your trades and keep a journal of all your trades. Do not rush the process or deviate from that plan, this will only put you at a disadvantage and you will involve too many emotions and you’ll rush the Challenge. Take your time.

How Trader Ozgur rates his FTMO experience?

Has your psychology ever affected your trading plan?

That is not even a question for me. Psychology has been the final hurdle in the proper execution of my plan. In order to reach this point, I have had to bring discipline into my life as a whole, changing my nutrition, fitness, and social habits.

Describe your best trade.

My best trade in terms of profit was a bitcoin short I had executed in late June 2019. At the time I was looking for buyer exhaustion, and I was watching as three one-minute candles came jumping price increasingly in an extreme fashion, something along the lines of $200-$300 per minute. I took a short after I saw this with relatively large size but a tight stop against the high, and I covered 90% of the position when we dropped to 10,000 in the next week or two.

Where have you learnt about FTMO?

I was actually practising my trading skills and building a journal to provide to a potential family friend investor who was willing to fund me. I stumbled across ftmo by word of mouth from a trader friend, and after reading what your company does I fell in love with the idea. You’re helping so many traders like myself accomplish our dreams.

How would you rate your experience with FTMO?

10/10 As of now any issue that I may have had has been handled swiftly through contacting the excellent support team. Spreads are beautiful, I have no complaints.

How does passing the Challenge and Verification changed your life?

It has given me a renewed sense of energy and ability. I know what I’m capable of but frustration in previous failures was always present in my head. Only when I was able to stop thinking about this and focus on today and the future was I able to pass.

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

I would highly recommend taking advantage of the trial you offer, as that way you can test your strategy prior to spending money on a Challenge. Once you know and are sure you can succeed, then move forward.

Trader Charles using a combination of Technical and Fundamental Analysis

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

Yes, when I first started trading I was all about Technical Analysis. Then, Quickly realized that the fundamental side of trading “tend” to draw out these patterns I looked for. For example, RSI is oversold and there is an Inverted Head and shoulder pattern that is forming to the upside. The back story is that the DXY interest rates are decreasing to encourage consumers to buy a product to rise a level of inflation. Currently, I will look for a fundamental direction before I take a technical trade alone. Usually, spotting a supply and demand zones to be broken.

Has your psychology ever affected your trading plan?

Yes, when I over trade. But I’m learning more and more that with the right risk management I understand an ugly win rate and a decent risk to reward ratio will cover me in the long run as I stick to proper risk management.

What inspires you to pursue trading?

Autonomy, I don’t want to work for anyone else. My personality type can bump head with working for a company with rules.. I feel like I’m stuck and I don’t like that. Trading is giving me the freedom to do other things that I want to do and not what others want me to do.

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

Risk management and psychology. Getting used to the ugly win rates (consistent losses) in some weeks or months has to be understood it apart of the game.

How does your risk management plan look like?

I find a lot size I’m comfortable with and an amount I’m willing to lose without taking me out for the day. I try to stay below 3%. I want to get to a place where I stay below 1.5%.

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

Keep moving forward. Don’t worry about other peoples win rates or RR, focus on your own. Trust the math and continue to be open to new ideas as you develop your trading plan furthermore.