FTMO prop trader Mike shares his strategy for earning $115,000 and insights on trading psychology and discipline.
FTMO prop trader Mike shares his strategy for earning $115,000 and insights on trading psychology and discipline.
Featured News: FTMO prop trader Maik shares his strategy for earning $115,000 and insights on trading psychology and discipline.
FTMO trader Maik is a talented trader in Dubai who has made remarkable strides in trading. Over the past year, Maik has achieved over $115,000 in payouts, a significant accomplishment in such a short time frame.
Originally from Germany, Maik started trading his career five to six years ago. He recalls beginning his journey in typical Telegram groups, trading with signals he quickly recognized as unreliable. “I realized early on that there was a great opportunity to earn money through trading, and I decided to focus on developing my skills,” he shared.
Unlike many traders, Maik did not spend extensive time on demo accounts. “I think I traded a demo account for just a few weeks to familiarize myself with trading platforms like MetaTrader and cTrader,” he explained. “I prefer to trade with real money, even if it’s a small amount because the emotional aspect of trading is crucial. There’s no comparison between trading demo and real money; the pressure is entirely different.”
While Maik had a strong grasp of trading firms from the beginning, he faced significant challenges related to mental discipline. “I had a good win rate, but my major problem was emotional control. I often saw great opportunities, but I struggled to manage the pressure. This led me to make mistakes, such as overleveraging and canceling stop losses,” he admitted.
It took Maik about two years to develop a consistent trading routine that helped him overcome these psychological barriers. “I have a trade management plan and risk management strategies in place. I’ve learned that trading must be methodical and even boring; consistency is key,” he emphasized.
Maik now holds a $200,000 FTMO account and continues to trade on his accounts. When asked about the psychological differences of trading with larger capital, he noted, “At first, it was daunting to trade $200,000 and see profits or losses of $2,000 to $4,000. But I’ve adjusted by focusing on percentage risks rather than dollar amounts.”
Despite his success, Maik acknowledges his psychological hurdles, including fear of missing out and revenge trading. “I’ve made all the typical mistakes but learned to adhere to my trading plan and control my emotions. Now, I stay informed about market fundamentals, which helps make sound trading decisions,” he explained.
When discussing his approach to analysis, Maik emphasized the importance of technical and fundamental strategies. “I believe you need both. Technical analysis helps with entry and exit timing while understanding fundamentals allows for better long-term positioning,” he stated.
He trades primarily the DAX and gold but does not limit himself to these instruments. “I can trade anything with my system, but I prefer to focus on just a few pairs. This minimizes pressure and allows for better analysis and decision-making,” he noted.
With his disciplined approach and insightful strategies, Maik exemplifies the potential for success within the prop trading industry, inspiring traders around the globe.
Those interested in joining FTMO and managing up to $200,000 in fixed funds should visit FTMO‘s official website for more information on how to get started.
You can watch the video of Maik’s full interview and gain deeper insights into his trading journey with FTMO.
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