Tell us a little bit about you. Originally from Latvia, but I have been living in Scotland for over 10 years. The first and most important thing in life is my four children. I started to trade because it would give me time to spend with my family. I am a very straightforward person and like simplicity.
How long have you been trading?
Full-time since October 2019 but been studying forex on and off since 2013.
Briefly describe your Trading Plan and how it contributes to your success. ”Stupid simple” that’s how I call my trading plan. Having simple and easy to understand rules is the factor that contributes to my success.4h zones (support/resistance) with taking entries on 15m or 5m time frame using candle patterns.Clear risk management. Start small and increase as I go:
First trade with 0.10 – 0.25% until I build a 2% profit cushion.0.25 – 0.50% risk until I build a 4% profit cushion.0.50 – 0.75% risk when enough (+4%) profit has been made.
Please share with us a challenge you faced in your trading career and how you overcame it. I am a very emotional human being. All emotions were challenging me. Greed, fears, excitement…Book: ”Mental Game of Trading” by Jarred Tendler helped me to realise what emotions are affecting my trading. I was able to control and separate emotions from decision-making. I overcame my emotions with time.Still, to this day, I need to put a lot of effort into staying in control, but I am definitely better than I was years ago.No more crying at the desktop!
How did you adjust risk management to your trading personality? I used to think that 1% was the way to go, but after many errors, I realized it’s not the way. For me personally, 1% is a lot. I find that starting small and increasing as I go works the best for me.
Describe a key moment in your trading career. I decided to go full-time and deposited a serious amount of money in my trading account. That was the moment I committed to taking my trading as a business and not a gambling opportunity.
How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent? I am a slow learner. It took me over 5 years to get close to consistency. I tried so many trading approaches, and nothing would work until I fully committed and said: ”Enough is enough, I can, and I will figure this out!”First thing, I started to focus on my mindset and read a lit of educational books. I stopped strategy jumping and decided to backtest my own strategy rules.
What is your mental/psychological strength, and how did you develop it? Focusing on money is what fails most traders. Once I started to focus on my process and not on how much profit I had made, I saw a drastic change. I kept very detailed journals and looking back, I see the turning point was for me to stop worrying about how much money I make but stay focused on reaching consistent results. It was very challenging to switch off the money. What helped was not to set any targets in a certain amount, for example, making 10% profit. Instead, I set a goal of staying consistent with my strategy and focusing on the process even if I don’t make any money.
What was your strategy to successfully pass The5ers’ First Level? Keeping watchlist small. GJ, GU, and EU. Trade from 4h zones and execute with clear confirmation. Stick to risk management and keep emotions in control. Keeping it simple without over-complicating things.
How is trading for the5ers different from trading by yourself? Trading with the5ers gives the opportunity to trade bigger funds with that comes the responsibility to manage funds properly. Trading with certain rules helps to stay in control when it comes to risk management.
What would you recommend to someone who is just starting with us? Take your time! Keep your risk small, and don’t chase the market. Set your ”why” and keep it in front of you.
Share online resources that were/are significant in your trading development. It was a long time ago when I started to look into trading. It was actually in person class hosted in Latvia. Through the years, I have purchased many courses and followed many forex mentors. The one who has helped me a lot in my trading journey is Aly (IG @forexwithaly). She has many years of experience and has dedicated a lot of her time to educate traders. The knowledge she has shared with me has definitely contributed to my trading success.
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The 5%ers Funding Forex Traders & Growth Program is a trademark brand name owned by FIVE PERCENT ONLINE LTD. ISRAEL (LEI: 894500CK24MUEFQG0E92) and its UK Subsidiary FIVE PERCENT ONLINE LTD,
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Business Model Acknowledgment: The company is a prop trading firm and does not onboard retail clients
Risk Disclosure: The services provided on this website are professional skill-assessment services. The outcome of the proposed services is necessarily determined by the individual professional skill level and ability to perform under the program guidelines and objectives as elaborated for each service separately. Clients are advised to conclude a thorough study of the requirements of the program before signing up for any of the services.
Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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