One Prop Trader a Day - Sotir Panov: My First Payout Proved Dreams Come True
One Prop Trader a Day – Episode 44
About Sotir Panov
Sotir Panov is a 31-year-old index trader from Bulgaria who has been funded since 2021. He trades the Nasdaq and Dow Jones using ICT concepts and a self-taught, indicator-free price action approach, framing from the weekly chart down to low timeframes. He is refreshingly honest about the realities of prop trading: he still fails challenges, aims for a positive yearly P/L of roughly three to four payouts across ten accounts, and treats the whole thing as a business with highs and lows.
Quick intro – who are you, and what do you trade?
Hello, my name is Sotir. I am from Bulgaria, 31 years old. I mostly trade indices, the Nasdaq and Dow Jones.
When did you become a funded trader? What changed for you at that point?
My first funded account was around August to September 2021. Once I received my first payout, I knew dreams could come true. That payout came from the very first prop account I bought.
What is the first thing you bought with trading money that felt like proof it was working?
My first payout was not very big. I was trading a 20K USD account with Funding Talent, and I was not even sure they would pay out. I had read about rejected payout requests, so I was afraid they might scam me. I cut some winners and turned a 4.3K profit into a 2K withdrawal just to be safe. I was on a vacation trip the day I requested it, so that money went toward moments with my girlfriend. With my first bigger payout, over 7K USD, I bought some equipment for me and my mother.
How many times did you fail before getting funded? What kept you going?
Interestingly, I passed my very first bought challenge, a two-phase account; I remember passing phase 2 on a XAUUSD trade, though I mostly traded indices. My first account was 20K with Funding Talent, and my second was 50K, funded on the first try again. I have failed a lot of challenges since then, and I still fail some. I just try to keep a positive P/L for the year, roughly 3 to 4 payouts from 10 accounts. What keeps me going is the internal drive to improve myself as a person and to improve the lives of people around me.
What is the single most expensive lesson you have paid for?
The most expensive lesson was buying Tesla shares with big leverage right before a correction. I was still learning to trade, and that mistake cost me around 4K USD.
What was your lowest point in trading? Did you ever consider quitting?
Trading is like a business for me; there are highs and lows. I do not really remember a single lowest point. That does not mean I am super profitable, it is just part of the game. I try to ignore both losses and wins and simply do the work. I have never considered quitting.
Did trading ever affect you mentally or emotionally?
Yes, trading affects me; it did before and it still does. My cortisol levels are higher when I am trading, and I think that is normal. We are human. The important thing is how we react to that stress.
What does your trading style look like today?
Right now I trade only indices. I frame from the weekly chart down to the lowest timeframes for entries, mostly following price action with zero indicators on my charts. I use some ICT concepts along with a type of price action I figured out myself over the years.
What is a typical trading day for you?
I work a finance-related job, fully remote, so no one bothers me about when I trade. I am not busy with work the whole day, which lets me trade when the time is right. I have no special routine; I just try to eat decent food and stay hydrated so I can keep my stress lower when I am in a trade.
Walk us through your most recent losing trade.
My most recent losing trade had less than 0.1% risk. I knew price would likely continue against me, and it was a bit outside my strategy. I expected some manipulation to the short side on Dow Jones 30 and entered after a reaction at marked levels. It was in profit but did not hit my target and reversed into my stop loss. I do not regret it; I had to try that trade.
What is a popular trading rule you completely ignore, and why?
Journaling my trades. I do it from time to time, but not often enough.
Do people around you understand what you do? How do they react?
Mostly people do not understand exactly what I do; they think it is some kind of gambling. It could be, depending on how you act when you trade. The line between gambling and business is very thin.
How has trading impacted your lifestyle?
I would be lying if I said it was entirely positive. It has ups and downs like every aspect of life. It has definitely changed me, but in a good way, I think.
His FTMO Passed Verification certificate.
His certificate of achievement.
A $2,352.09 reward payout.
What separates you from someone who washed out at their third evaluation?
Honestly, anyone who says he is different from other traders is lying. There are periods when you are strong-minded and disciplined, and periods when something happens in your life and you lose your instincts and fall into a losing streak. Things are not black and white. It is a business.
What advice would you give yourself one year ago?
Be patient, and do not break your rules.
If prop firms disappeared tomorrow, would you still be trading? Doing what?
I would still trade; I already trade with my own capital, not only prop firms. If prop firms disappeared, I would use the bank’s money or something.
If I gave you a $1,000,000 funded account today, what would you do in the first 7 days?
It would be a regular week for me. I would not trade every day. I would wait for decent price action and risk 0.2 to 0.5% per setup, with a maximum of 1 to 2 setups per trading day.
Connect with Sotir Panov
