Ultimate Traders
Questions & Answers

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1. Discipline - that’s not a secret that in order to pass the classic challenge you need crazy discipline with your trading, otherwise you will blow accounts one by one never really making it. You need to master one strategy, and you can do that in a demo account that you can find in any place these days, and you have to follow all of the rules. It would be better to write down all of your rules on paper and look at them before, in the middle, and after your trading sessions. My rules were simple: one trade a day no matter what, taking only trades that checks all of the boxes, avoid trading news (closing deals if news are approacing), keeping risk the same 1%, no trades at all if its FOMC meeting or NFP.

2. Risk management - non-arguable one of the most important aspects when trading with a prop firm, because you have a limited drawdown that you can’t surpass. Moreover, when you are in control of your risk, it will be pretty difficult to lose your challenge even in several days.

3. Keeping a trading journal - this way you will actually learn from your mistakes and get better each time! You have to write down all of your trades that you took, rate them by confidence rate (usually between 4 and 5, because if you took a trade with 3 star confidence that’s strange…), and also make notes for each trade. When the trade didn’t play out, look at it precisely and figure out what you did wrong to avoid that same mistake again.

This is basic advice, but I was able to pass the challenge and got a payout. Blessed.

Hard work, buddy, hard work... Candidly speaking, you gotta just focus on not losing money, not chasing profits. The problem is that 99% of traders are thinking wrong. As soon as you change your mindset, you’ll understand how by trying to protect your capital, you start gaining profits unconsciously.