We spoke with Nguyen about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
Click here for more inspirational lessons and interviews with our professionally funded traders.
I’m Duc, living in Ho Chi Minh City, Vietnam. I’ve been trading since 2018. At first, I traded cryptocurrency and found which indicators suited my trading style. After a period of time, I realized crypto was much harder for me to trade, so I switched to forex and found that it moved a bit slower than I thought. Therefore, I focused on trading gold until now. Recently, I learned more about my mission in life and why I should pursue it.
I have been trading for 8 years.
My setup, which makes me feel confident, is the breakout strategy. Before the price moves to the resistance/support, I place an alert on TradingView for both zones (whichever comes first).
I then move to a smaller time frame to wonder, “Is it good enough to take a full position or half position? Or should I wait a bit to see if the price moves to a clearer position?
The risk is around 1.5-2% per trade if the market moves steadily and 1-1.5% per trade if the market moves aggressively. If it is a profitable day early on, I will look for another trade,
and no matter where the market goes, the last profit of that day will be a 0.5% profitable day.
I realized that most of the knowledge I learn from the internet doesn’t become mine if I don’t do a lot of backtesting. I have to identify the concept “for myself to understand in my own way” and live with it to understand how it should be used.
The reason I realized I should become a consistent trader is that I don’t want to end my trading career soon. It must be a vital part of my life, like breathing. I want to support my family and lower my expectations. I just want to be a normal person, trading happily, and have a place to live in my country.
My strength is having a lot of “me” time. I talk to myself a lot and constantly ask “why” questions to understand how greedy, hateful, or ignorant I am. I don’t compare myself to anyone to determine how good or bad I am compared to them. The only thing I care about is how to become better day by day and make as few decisions as I can.
If you are doing it right, be confident.
I move my stop loss to break even and make 1-2 orders in the same direction the trend is moving, with a smaller size (maybe half of the first trade). If it continues moving the same way, I look for a target for all the orders. If not, I just lose the 2nd position with half the size. I accept, “Ok, I lose today, I forgive myself, and I will try again tomorrow. The market is still there, and I can’t end my career today.
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