{"id":599536,"date":"2023-11-22T15:00:58","date_gmt":"2023-11-22T14:00:58","guid":{"rendered":"https:\/\/ftmo.com\/?p=599536"},"modified":"2023-11-22T15:07:20","modified_gmt":"2023-11-22T14:07:20","slug":"you-will-never-be-able-to-completely-ignore-your-emotions","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/you-will-never-be-able-to-completely-ignore-your-emotions\/","title":{"rendered":"\u201cYou will never be able to completely ignore your emotions\u201d"},"content":{"rendered":"
Emotions are an integral part of the trading process and the sooner each trader realizes this, the sooner they will be able to make consistent profits. Realizing this basic principle helped our new FTMO Traders Muhammad, Saleem, Neil and Samuel to successfully complete the Evaluation Process.<\/em><\/p>\n How has passing the FTMO Challenge and Verification changed your life?<\/strong><\/p>\n It made me more confident and gave me a chance to prove my skills. I am 100% more invested in improving myself after taking the FTMO Challenge. I am more profitable than before, and I am happy I took the test. It will financially help me and enable me to pursue my dreams.<\/p>\n What does your risk management plan look like?<\/strong><\/p>\n Most of the time, I am looking for 1:1 RR trades or 1:1.5 RR by risking 1%, and I only increase my risk if I am already up by 3-4% on my A+ setups to aim for 1:3RR. By taking FTMO Challenge I realized, I have been more disciplined and following my trading plan more accurately.<\/p>\n How would you rate your experience with FTMO?<\/strong><\/p>\n To be honest, when I thought of getting funded, there was no other prop firm that came in my mind other than FTMO because I have been following the FTMO YouTube channel for a while and watching a lot of videos. Initially, I thought I couldn\u2019t pass the test, then I came up with a new strategy and a trading plan to pass the FTMO challenge. During the test, I had some issues and FTMO live chat support solved my issue within minutes. The last 3 weeks of trading with FTMO were the best weeks of my trading journey. Thank you FTMO for such an amazing experience and for letting me know my strengths and weaknesses.<\/p>\n Do you plan to take another FTMO Challenge to manage even bigger capital?<\/strong><\/p>\n Yes, I want to start another challenge, while managing my funded account from the coming week.<\/p>\n Has your psychology ever affected your trading plan?<\/strong><\/p>\n I have been practising my strategy in live markets and with more than 4 months of backtesting, I was pretty confident that if I follow my trading plan and aim for only 1% a day, I can easily achieve my daily target. I patiently wait for my entry signals and enter the trade. If I am not comfortable with the setup, I will just skip it and wait for the Perfect setup. So, my psychology hasn\u2019t affected my trading plan so far, and I don’t think it will affect it in the future.<\/p>\n What is the number one advice you would give to a new trader?<\/strong><\/p>\n The number one piece of advice I would like to give to a new trader is – always risk 1% on a trade and be patient for your setup because it\u2019s better to slowly grow your account rather than blowing your account in few trades.<\/p>\n How would you rate your experience with FTMO?<\/strong><\/p>\n Overall, a good experience. Good spreads and quick fills. Customer service is excellent.<\/p>\n What was the most difficult during your FTMO Challenge or Verification and how did you overcome it?<\/strong><\/p>\n Fear of loss. Understanding the risk amount you take when entering a trade, I just the cost of the opportunity to be profitable over a series of trades. If the risk amount makes you anxious then lower the risk. Also, having a simple strategy reduces over analysis and lets you maintain your mental clarity.<\/p>\n What do you think is the most important characteristic\/attribute to become a profitable trader?<\/strong><\/p>\n Understanding that you will never be able to completely ignore your emotions and being able to manage them in a healthy way. Practising patience and having no expectations in trading and general life really allows for better opportunities.<\/p>\n What was easier than expected during the FTMO Challenge or Verification?<\/strong><\/p>\n Coming into this challenge, I had no expectations besides becoming a better trader through the gained experiences.<\/p>\n What does your risk management plan look like?<\/strong><\/p>\n Typically, I would risk 1% on the average trade and 2% on the ones I am more confident in. Despite setting a fixed risk percentage, I would observe certain levels where if the price went against me during the trade, I would close it even before it hit my stop loss. While some trades I close may have been winners, it is my belief that the only thing you control in trading is your risk amount, and therefore the only objective you need to have is capital preservation. The profits will take care of themselves.<\/p>\nTrader Muhammad: \u201cIt\u2019s better to slowly grow your account rather than blowing your account in few trades.\u201d<\/h3>\n
<\/p>\n
<\/a><\/p>\n
<\/p>\n
Trader Saleem: \u201cIf the risk amount makes you anxious then lower the risk.\u201d<\/h3>\n
<\/p>\n
<\/p>\n