{"id":583675,"date":"2023-08-02T13:00:01","date_gmt":"2023-08-02T11:00:01","guid":{"rendered":"https:\/\/ftmo.com\/?p=583675"},"modified":"2023-08-02T14:11:14","modified_gmt":"2023-08-02T12:11:14","slug":"one-of-the-toughest-obstacles-on-my-trading-journey-is-dealing-with-emotions","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/one-of-the-toughest-obstacles-on-my-trading-journey-is-dealing-with-emotions\/","title":{"rendered":"\u201cOne of the toughest obstacles on my trading journey is dealing with emotions\u201d"},"content":{"rendered":"
Whether we want to or not, we will never completely remove emotions from trading. For some traders, it is more difficult to digest a series of losing trades. The key to success is avoiding panic, having confidence in your strategy, and realizing that no one’s approach will generate 100% profitable trades. In short, every losing trade should be taken as an experience from which we can learn.<\/em><\/p>\n What was the hardest obstacle on your trading journey?<\/strong><\/p>\n To be able to maintain my discipline through the rough trading conditions. Looks silly on paper but that was really challenging since in periods of drawdowns the pressure is significantly harder. It took some strict mathematical and mechanical rules to protect my psychology.<\/p>\n How did you manage your emotions when you were in a losing trade?<\/strong><\/p>\n It started by increasing awareness of how I was feeling before, during and after a trade by tracking my feelings for each trade and setup on an Excel sheet, each 2 to 4 weeks on weekends I went back to my sheet and learned more about myself and where and when I was feeling more emotional than normal so I could track the roots of the issue. I have accepted the fact that each trade carries some sort of emotion with it even if it’s low since money is linked to our survival, but making sure to fix mistakes that won’t heighten the emotions more than they need to be is key to protect my mind from potential heightened emotions that can lead to costly trades.<\/p>\n What was easier than expected during the FTMO Challenge or Verification?<\/strong><\/p>\n Thankfully, FTMO’s support and technicality, tighter spreads, and commissions than my typical brokers and the stats kept me held accountable to stick to what works best as numbers will easily project what works and doesn’t with a significant trade sample size.<\/p>\n How would you rate your experience with FTMO?<\/strong><\/p>\n Very professional, every time I had an issue it was solved very fast.<\/p>\n What do you think is the most important characteristic\/attribute to become a profitable<\/strong> trader?<\/strong><\/p>\n Knowing how to spot a system that works or doesn’t (via rigorous backtesting), knowing what makes a balanced success rate with RRR that won’t risk blowing the account or dragging it down to huge drawdowns (even if it does have an edge and is profitable long term, we’re all humans on short term and most can’t handle the pressures of drawdowns of misbalanced RRR’s in profitable strategies). And of course, practicing the strategy itself so the trader’s mind and discipline gets accustomed to the backtested strategy applied.<\/p>\n One piece of advice for people starting an FTMO Challenge now.<\/strong><\/p>\n Thankfully FTMO removed the time limits and there’s no need to rush trades. If you practiced your working strategy the account is basically yours once you buy the Challenge, just a matter of time and waiting for the market to give you the setups where your edge exists.<\/p>\n How would you rate your experience with FTMO?<\/strong><\/p>\n 9\/10. I really like the FTMO Challenge, and I am extremely happy to be part of the FTMO Trader community. FTMO has taught me discipline and adherence to the rules set by the company (aka FTMO). Without these two factors, I wouldn’t have become a profitable trader.<\/p>\n How did you manage your emotions when you were in a losing trade?<\/strong><\/p>\n Because I understand the probability of my method, I don’t panic about the losses I experience. I believe that, in the long run, my method will be profitable for me. The losses I incur are just considered as losing trades or “losing opportunities,” as there is no trading strategy that guarantees 100% profit. Additionally, I rarely look at charts, so I am not addicted, and my psychology remains unaffected. The infrequency of checking charts makes me calmer and better able to manage my emotions. No FOMO, no panic, and no addiction.<\/p>\n What was easier than expected during the FTMO Challenge or Verification?<\/strong><\/p>\n I thought the FTMO Challenge with a 10% Profit Target in 30 days was very difficult to achieve. But unexpectedly, I managed to complete the rules. I didn’t expect that I could accomplish them. I simply went through the trading process, and suddenly I finished the Challenge. I was surprised! As for the Verification stage, I found it easier than the FTMO Challenge, so I was able to complete it with ease.<\/p>\n Do you have a trading plan in place, and do you follow it strictly?<\/strong><\/p>\n I only have two methods. One method I use when the market is ranging, and the other method I use when the market is trending. My methods are very rigid. I have already backtested the methods I use. During a ranging market, I only use support and resistance. I place sell limit orders at resistance and buy limit orders at support. When the market is trending, I only use the “secondary movement” and place limit orders at Fibonacci extension levels around the 0.5 and 0.618 ratios. Pretty simple, right? I strictly stick to these two methods and do not mix them with other methods like SMC, chart patterns, etc.<\/p>\n How did Maximum Loss limits affect your trading style?<\/strong><\/p>\n The risk per trade I use is 1%. If my trading capital is $10,000, I’m willing to lose only $100 on each Stop Loss. When I reach the Take Profit (TP) level, I’ll also gain around $100 or more. You can see the risk-reward ratio in my account analysis. However, when a major trend has arrived, sometimes I don’t use Take Profit and let the profit run. This is because I believe that when a market trend arrives, we can achieve significant profits. Even though I don’t set a Take Profit during a major market trend, I still use a trailing stop (SL+) to limit risks.<\/p>\nTrader Alexandre: \u201cI have accepted the fact that each trade carries some sort of emotion with it.\u201d<\/h3>\n
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Trader Yusuf Al Rasyid: \u201cI rarely look at charts, so I am not addicted\u201d<\/h3>\n
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