Tell us a little bit about you. I am 54 years old. Before, I tried many ways to beat the market but could not. Now I trade by following my trading setup.
How long have you been trading?
Almost 20 years for the stock market but only 4-5 months for forex. I am a part-time trader.
Briefly describe your Trading Plan and how it contributes to your success. I only trade when the market is trending. I will only trade according to the trend. By using the price action of the candlestick and then following the price pullback.
Please share with us a challenge you faced in your trading career and how you overcame it. The challenge is I am focusing on trying to beat the market. That is making my trading not follow my trading setup and not make a profit. The way that I go over it is I try not to focus on beating the market but go back to sticking to the trading setup.
How did you adjust risk management to your trading personality? Every time I will trade not more than one percent of my port at that time, and I set a stop loss on every trade.
Describe a key moment in your trading career. My 2 most important moments. The first moment is when I am on finding my trading setup and put it to the back and forward test and adjust it until I am sure it is profitable. And the second is when I can stop focusing on beating the market and back to focusing on my trading setup.
How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent? It is not long. It happened after I changed my mindset from trading to beating the market to trading as my trading setup.
What is your mental/psychological strength, and how did you develop it? I can hardly say that I’m not worried about psychological in the latter. After, I went back to sticking with the trading setup that I’d adjusted and tested until I was confident. But I also admit that at first, I was worried that I wouldn’t be able to stay in the market for long, but I was lucky that I set a stop loss every time I traded, so I still had the capital to continue doing in the market.
What was your strategy to successfully pass The5%ers’ First Level? Sticking to my trading setup.
How is trading for the5ers different from trading by yourself? The5ers make me more capital to trade.
What would you recommend to someone who is just starting with us? Find your own trading setup by testing it to make sure it is profitable, and then stick trade according to that trading setup.
Share online resources that were/are significant in your trading development. I studied many clips on YouTube from many traders and then applied those ideas to my trading.
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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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