Successful Traders
Igor D. Banked $59,068.42 and Scaled His Account Simultaneously
August 31, 2023 | 4:38 pm | Successful Traders
August 31, 2023 | 4:38 pm
Successful Traders
Instead of YouTube gurus, learn from actual fund/portfolio managers and people with solid finance experience
Igor D, 25 years old, From Australia.
Igor successfully passed and scaled up his High Stakes account. He is now trading the $150K funded account.
His next objective is to reach a 10% profit to scale up his account to $175K.
We spoke with Igor about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
Click here for more Inspirations lessons and interviews from our professionally funded traders.
Igor’s $100K High-stakes Funded account
Igor’s $125K High-stakes Funded account
- Tell us a little bit about you.
I am a full-time trader from Sydney, Australia. Prior to trading full-time, I was a university student and part-time security guard at bars and nightclubs. After graduating, I had more time to trade, and my results became more profitable and consistent.
- How long have you been trading?
It started around June 2021 during peak Covid lockdowns. During that time, I had a lot of time to learn about trading. I began with studying financial markets and macroeconomics while simultaneously demo trading. After about 6 months or so, I began dabbling with a small amount of real money. After discovering trading firms such as 5%ers, I began trading mostly funded money as it opens up great opportunities to good traders that would otherwise not have access to such a high level of capital.
- Briefly describe your Trading Plan and how it contributes to your success.
I would describe my trading plan as a combination of macroeconomic analysis together with supply and demand technical analysis. I use both macroeconomic and technical analysis to try and determine where the long-term price will go. Then, I use supply and demand to pinpoint areas where price seems attractive to buyers/sellers. From there, I am able to narrow down my entry and execute my trades on smaller time frames
- Please share with us a challenge you faced in your trading career and how you overcame it.
I could write a whole essay on this. Developing your own strategy is one of the most difficult challenges. There is an overload of information on the internet with a lot of people who seem confident in what they are talking about, yet they could have no clue. It is difficult to filter out what information is useful and who is just trying to feed you useless information in order to promote their course or premium discord. In order to overcome this, I decided not to follow anyone’s particular strategy. Instead of blindly following particular strategies, I would try and evaluate why some strategies would fundamentally work and why some wouldn’t. That is how I ended up trading supply and demand and using my own methodologies to pick out supply and demand zones.
- How did you adjust risk management to your trading personality?
I am still constantly adjusting my risk management as my trading naturally evolves. I would say adjusting risk management goes together with your win rate and your average risk/reward ratio in your profitable trades. When I notice I have low win rates but higher RRs, I try to lower my risk a little, but if I start getting high win rates (around 40-50%), I would then increase in my risk tolerance. Sometimes, due to trading conditions – your average win rate can change, and it is important to notice it early so that you can adjust it accordingly. I am still working on that.
- Describe a key moment in your trading career.
My key moment was when I was able to start trading full-time around December 2022. It felt unreal in a good way but also daunting as I was venturing onto a path I did not expect to go onto. I had the option of getting a full-time job with my degree or taking the high risk and committing to trading – which I did. And I am glad I did, as so far, it has been very rewarding.
- How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent?
I would like to consider myself a consistent trader now – but conditions always change, and to stay consistent, you have to adapt well. Since I started trading in June 2021 and was able to go full-time in December 2022, I would say it took me around a year and a half to become a consistent trader. However, I had committed a lot of hours to trading, for which I have sacrificed my university grades and attendance.
- What is your mental/psychological strength, and how did you develop it?
When I first moved from trading demo to real money – I had noticed that I could not help but be emotional when trading. By that, I mean being excited when I make a profit and be devastated when I make a loss. With experience, I had learnt to see trading in terms of percentage returns and not look at it in terms of money. When you make a $2000 loss, some people could see it as a potential holiday or, a nice dinner, or some new clothes. Instead, I learnt to view it as just numbers – and my goal is to simply increase those numbers at the best rate I can.
- What was your strategy to successfully pass The5ers’ First Level?
Sometimes, due to personal ego, I am tempted to reach for very high RR trades. However, with the 5%ers rule of having 3 PROFITABLE trading days, I was able to relax a bit more and take safe, calculated trades using my supply and demand strategy – spreading out my target RR across 3 days. As the profit target had to be spread out across 3 days, I decided that safe, slightly lower RR trades are the way to go to pass the first level.
- How is trading for The5ers different from trading by yourself?
Firstly, 5%ers allowed me to manage capital that would otherwise be unavailable to a retail trader such as myself. In addition to that, daily and max drawdown rules instil good risk management habits that I might’ve otherwise not stuck to if I was trading my own account. Similarly, the 5%ers scaling plan encourages consistent, well-managed trades in order to grow your account.
- What would you recommend to someone who is just starting with us?
Depending on your trading ability – if you’re less confident, I would recommend the Bootcamp program, and if you’re more confident I would advise the two-step high-stakes challenge. I recommend keeping your win rate and average RR in mind and adjust your trading accordingly – Remember, because of the 3 PROFITABLE days to pass, you do not need to rush and try gamble your challenge. Instead, take your time and take calculated high-value trades.
- Share online resources that were/are significant in your trading development.
Instead of YouTube gurus, I prefer learning from actual fund/portfolio managers and people with solid finance experience. This is why I would recommend Sam Seiden’s Supply and Demand lectures on the YouTube channel FXStreet, and I would also recommend Anton Kreil. The reason why I like Sam Seiden is because he explains WHY supply and demand work and does not simply just give you a strategy to follow.
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