Back to BlogHis next mission is to reach 10% of profit and double his funds to 104K.
We spoke with Gary 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.
Live in the UK, known to many as Langers The Scruffy Trader, from youtube.
- How long have you been trading?
15 years, I am Full-Time Trader
- Briefly describe your Trading Plan and how it contributes to your success.
I am mainly a day trader using price action and momentum. To ensure I only take high chance trades, I only trade the London session when the markets are moving quickly with a set of 8 high ATR markets. My main way of working is a simple zone-to-zone plan based on a push of the market on a 1-hour chart between the hours of 9 am & 5 pm (avoid the London open as a nightmare).
- Share with us a challenge you faced in your trading career and how you overcame it?
In the beginning, I was arrogant and always thought I knew better than the market. After losing a fortune, I had to sit back and accept that you cannot win all the time.
- How did you adjust risk management to your trading personality?
Following a loss, after loss, I came to understand the waves of the market and use a variable stop.
- Describe a key moment in your trading career.
I used to have to buy products overseas, in their domestic currency, or with USD, so I was introduced to forward purchasing as part of my business.
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
Roughly around 2 to 3 years to be consistent, slowing everything down help me more than anything.
- What is your mental/psychological strength, and how did you develop it?
In my 20’s I had a high-pressure job and also ran a large business with 17 staff. This helped as I was used to big numbers and pressure.
- What was your strategy to successfully passing The5%ers’ First Level?
High-grade trades only to protect the drawdown, coupled with small position sizes to allow the trade to breathe and not hurt too much if the trade goes against me.
- How is trading for the5ers different from trading by yourself?
My main markets to trade are the indices ie, FTSE & DAX, for the 5%ers trading only forex. However, the trading style and approach to the markets was the same apart from the position sizes, which I purposely reduced to help the drawdown and protect the account.
- What would you recommend to someone who is just starting with us?
Take your time and only look at the high-quality trades. If having to wait, then wait as you have plenty of time to complete it. Also, start with a small position size and build up slowly.
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
Kind of self-taught with the help of an ex-bank manager who worked for me.
- Would you like to share anything else with us?
Being a journey that I have shared along with the members of a group I run from the youtube channel, the Scruffy Trader. The guys there all wanted to see in real-time the progress before taking the leap regards joining the program. Having completed the process, I would have no hesitation in recommending the program as a low barrier to a high-value fund that can bring life-changing wages. As I say at the end of all my videos, “Do what you love & the money will follow.”
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