Putting strategy to work! Doing the FTMO Free Challenge!

2 weeks ago I was on a training webinar with Empire Trading.  The education services within our iX Global platform.  The trainer was talking about challenges and mentioned a platform called FTMO.  A platform where qualified traders can trade higher capital accounts and earn 70% of the profits.  

I've always traded small accounts as its my capital and I only trade with 'what I can afford to lose'. So the idea of trading with more capital was very interesting.  My trading mindset and my strategy is getting better and after 18 months I thought a challenge like this could be really valuable to my own confidence with trading.

I researched their website, listened to their testimonial videos, read reviews, joined FTMO communities on FB and basically did my background work on this platform to check out their credentials.    

I then thought, why not.  Ill take the free 14 day challenge they have and see how I got on!!  Very excited to report that in line with their rules and statistics I passed the free challenge.  

My strategy was simple.  I kept to a incremental lot size structure where I would set 3 take profit areas to work towards with risk increasing at higher take profit areas but I would off set that with moving my stop loss to protect profits.

I kept my margin level % at around 900% to allow trades set to move and create drawdown comfortably.  As we know markets move all the time and we need to allow for that.

As you will see below from my results - my first week wasn't great but I put this down to figuring out what was right to help me win the challenge as their rules to be met.

So delighted with my first success, I've started a new challenge yesterday to see how I get on.  I think I'll do another one after this and then Ill do a proper challenge with the goal of becoming a funded trader.   I'm very excited about this opportunity.  I'd never heard of this until a few weeks back and its just really opened up my trading mindset and the possibilities it could bring.