Back to BlogWe spoke with Daniel about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
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- Tell us a little bit about you.
I am 46 years young living in North Sweden. Born in Stockholm and a big fan of Djurgårdens IF (Hockey & Soccer). I have two kids, 14 and 17. Always been an Online Entrepreneur since the early 1990s. So financial trading has been a passion for many years. While I have been doing a lot of other things online, at the same time, such as Google Adwords, WordPress e-commerce, etc. It started once with an Autoresponder Company and Web Hosting. But nowadays I am just doing Financial Trading.
- How long have you been trading?
8 years, Swing Trader. Started in 1999 with $7 at PayPal and OANDA 🙂 Been doing some pauses here and there. Educated myself with Market Traders Institute in 2004. Good course, but not what made me money 🙂
- Briefly describe your Trading Plan and how it contributes to your success.
Mainly I control risk. I set lot size based on risk. The distance from entry to stop defines the lot size. I use an EA panel for that purpose (TOC)
- Share with us a challenge you faced in your trading career and how you overcame it?
I traded with too many variables, and feelings which lead into emotional losses. I learned from pain. I believe this is how real traders do it.
- How did you adjust risk management to your trading personality?
I do “gambling style trades” with 0.01 lot size to aid my pipsoholic. Then I apply strict rules that may be less of my personality. But it works.
- Describe a key moment in your trading career.
When I started my free training group and found other people who dedicated their time to teach others, rather than charge them. We never charge a dime. That is how we grow.
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
From 1999 until 2009. The world online looked different back then 🙂 It just took more years. Mainly what I changed was to implement a green bucket and a red bucket. We never lose, we only place negative red numbers in the red bucket and recoup over many future trades. (Less emotions)
- What is your mental/psychological strength, and how did you develop it?
Accept your weaknesses, and work on your strengths! (The Hunter Mentallity)
- What was your strategy to successfully passing The5%ers’ First Level?
Oh, it was a mess at first (used no clear strategy). Then on July 19, 2021, I decided to apply my own old system APEX. And in 11 days it was done.. good market conditions. But a good system as well.
- How is trading for the5ers different from trading by yourself?
I feel more responsible for trading others’ money. Less FOMO trades taken.
- What would you recommend to someone who is just starting with us?
Find a group of likeminded individuals, and understand trading can be very depressive and fantastic, you need your buddies who understand you.
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
My group members. No external source I would say. Most information out there is sadly not so productive.
- Would you like to share anything else with us?
I love the fact that you have 1:6 leverage. Less chance people blow up their accounts.
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