$40K Funded Trader, Scaled His Account Twice And Withdrew $4,753

We spoke with Oluwafemi about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.

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Oluwafemi’s $20K High-Stakes Funded Account

Oluwafemi’s $30K High-Stakes Funded Account

Tell us a little bit about you.

I am PhelmsFX on Twitter, and trading has been that business/skill that could give me financial freedom and stability….I personally believe that if one doesn’t quit or give up on trading, there’s a good story to tell in the end.

How long have you been trading?

I have been a full-time trader for 4 years.

Briefly describe your Trading Plan and how it contributes to your success.

Here are my 5 major points:

1. Trading only EU and XAU
2. Risking 1-2% of my capital
3. Taking 2 trades per day
4. Do not enter a trade when major news is about to happen
5. If I don’t see 3-4 confluences, I don’t need to enter a trade

Please share with us a challenge you faced in your trading career and how you overcame it.

One of the challenges I faced was a payout challenge, and what I meant was that I was impatient and eager to get a payout with The5ers, forgetting that I had to take it slow and steady……In the end, I had to tell/calm myself that The5ers was going nowhere and that I had to take my time in trading the account.

How did you adjust risk management to your trading personality?

For me, it depends actually…There are times I risk 1% or 2% in a trade to get 1:1 or 1:2 RR….

The main goal is not to overtrade or revenge trade during this process and stick to my plans.

Describe a key moment in your trading career.

One of the key moments I won’t forget was when one of my friends, a female actually…when she made a payout, and I was provoked. It motivated me that I could also do more, and prior to that, the following month, I made my first payout.

How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent?

It took me a year…Even tho I keep on failing and making mistakes, I learn from them…Because I believe trading is a process which everyone will have to pass through to learn before making the profits…I still have a long way to go…This is actually my 1st year of trading Forex.

What is your mental/psychological strength, and how did you develop it?

My strength comes from the idea and mindset of not giving up… no matter how much I fail, I won’t give up….With time, I will achieve my goal…I tell myself that if this person can achieve these things in trading, I can also do it….not GIVING UP has helped me a lot.

What was your strategy to successfully pass The5ers’ evaluation?

Mainly Support and Resistance, Trendline, and Candlestick Formations

How is trading for The5ers different from trading by yourself?

I believe trading with the5ers is a means to earn more capital money and also get more opportunities than trading by myself.

What would you recommend to someone who is just starting with us?

I will say he/she should keep on trading with The5ers cos there are a lot of opportunities to benefit from 5ers

Please share online resources that were/are significant in your trading development.

I will say Rayner Tao.

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