{"id":563652,"date":"2023-05-10T15:15:08","date_gmt":"2023-05-10T13:15:08","guid":{"rendered":"https:\/\/ftmo.com\/?p=563652"},"modified":"2023-05-10T17:16:44","modified_gmt":"2023-05-10T15:16:44","slug":"you-are-not-failure-there-is-space-to-grow-and-learn-its-a-journey","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/you-are-not-failure-there-is-space-to-grow-and-learn-its-a-journey\/","title":{"rendered":"\u201cYou are not a failure. There is room to grow and learn. It\u2019s a journey\u201d"},"content":{"rendered":"
No one learned from heaven. Trading, like any other activity, is about long-term education, gathering experience and, most importantly, learning from one’s own mistakes. Whoever can admit a mistake and eventually recover from it, has half won. Just like our new FTMO Traders Carlos, Tolulope, Putri and Oluwatobi.<\/em><\/p>\n What inspires you to pursue trading?<\/strong><\/p>\n What inspires me to pursue trading is the freedom and the financial gain that comes from trading. Also, I have a passion for the charts, so it comes in handy when pursuing trading. But the main reason why it inspires me to trade is because of the materialistic things I have been wanting to acquire for years, and thanks to my trading skills I can now be able to afford those things.<\/p>\n What does your risk management plan look like?<\/strong><\/p>\n I risk less than 1% (.30%) mostly on every trade, depending on what the market structure looks like. I aim for a 3:1 Reward to Risk ratio. If I lose a trade, I give myself another chance, but if I lose again, I step away from the charts and wait until the next day. If I have only placed one trade and it\u2019s a winner, I aim for my desired RRR and I am done for the day. Only one or two trades a day to avoid overtrading and potential big losses.<\/p>\n How did you eliminate the factor of luck in your trading?<\/strong><\/p>\n Personally, I don’t believe in luck in long term trading, so I built my trading plan as solid as possible with good risk management and I am committed to it every trading day.<\/p>\n How has passing the FTMO Challenge and Verification changed your life?<\/strong><\/p>\n Honestly, it gave me a lot of confidence as a trader and even as a person. A couple of months ago my self-esteem was low since I was failing Challenges left and right…until I revalued my trading plan and back tested all day every day. Now, for the first time in my whole trading career I’m consistent. So yes, passing the FTMO Challenge and Verification really changed my life for the better.<\/p>\n What was the hardest obstacle on your trading journey?<\/strong><\/p>\n The hardest obstacle in my trading journey was finding a trading plan that suited me. I was trying out various trading plans, until I found one that wasn’t complicated for me, and it actually changed how I look at the market(s). I now know what to look for in the charts with confidence. And from there it helped me emotionally by drastically reducing anxiety in trades because I now know that my trading plan works.<\/p>\n What is the number one advice you would give to a new trader?<\/strong><\/p>\n If you really want it, drop everything, and put your all into your trading plan. Spend your free time studying price action. Build your trading plan that suits you, back test it through old data charts. Commit and execute every trading day and know what days not to trade (News).<\/p>\n Describe your best trade.<\/strong><\/p>\n My best set of trades happened on day 2 of the Challenge where about \u00a3620 was realized in profits and the profit target was met. It happens on WTI crude oil. It was that going on a bullish retest of a strong resistance above in order to resume the sell-off, so I decided to scale into the bullish retest and then also into the sell-off afterwards. This alongside the US30 I think are my best sets of trades.<\/p>\n How did loss limits affect your trading style?<\/strong><\/p>\n It makes me to be more careful in choosing the kind of set up I eventually trade.<\/p>\n What was the hardest obstacle on your trading journey?<\/strong><\/p>\n Keeping to Daily Loss limit.<\/p>\n What was more difficult than expected during your FTMO Challenge or Verification?<\/strong><\/p>\n The Verification stage in its entirety was more difficult than I thought. I think overconfidence, euphoria and some sort of emotions took a toll on me along the Verification stage.<\/p>\n What was easier than expected during the FTMO Challenge or Verification?<\/strong><\/p>\n The Max Loss limit during the FTMO Challenge stage came easier than I’d expected with just about 2 and a half percent to achieve eleven percent, and less than one percent overall deep into the starting capital in closed positions.<\/p>\n What would you like to say to other traders that are attempting an FTMO Challenge?<\/strong><\/p>\n Traders have to hold on to their dream of becoming an FTMO Trader. You have to keep taking the Challenge to fine-tune your trading skill. The objectives set by FTMO in themself are a dream. Dreams are meant to be pursued. Don’t run from them, move towards them. Quit going for a firm that setting an 8% target in phase 1, it only makes you weak. But you want to be strong by staying with the best of the industry standard, the FTMO. You have keep working towards it. All the payments made for the lost Challenges should be seen as the fees you paid while going to school or college. They’re not at a loss. I hope this helps someone psychology.<\/p>\nTrader Carlos: \u201cBuild your trading plan that suits you.\u201d<\/h3>\n
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Trader Tolulope: \u201cDreams are meant to be pursued. Don’t run from them, move towards them.\u201d<\/h3>\n
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