We spoke with Thiago 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.
Long time trader that did not give up, I am still on the path of consistency but I feel my approach towards trading gets better every day
- How long have you been trading?
8 years, I am a swing Trader.
- Briefly describe your Trading Plan and how it contributes to your success.
Well, my trading plan consists in finding on the daily chart areas of supply and demand. From there, I scale to a 1-hour chart, and I look for a change of momentum in the trend and take my limit order
- Share with us a challenge you faced in your trading career and how you overcame it?
Well, for me, it has always been hard to accept losses and the fact that I could be wrong, the overtrading, and the stress while trade was open. Relaxing and understanding that a wrong trade doesn’t mean I am a bad trader made me have a better and calm approach, and I became more profitable.
- How did you adjust risk management to your trading personality?
I understood that I was risking too much, that every time I would have a loss, I would need to then risk much more to overcome the loss, and that was unsustainable. That’s when I decided to change the approach and reduce the risk. Best decision ever
- Describe a key moment in your trading career.
When I decided to reduce the risk and embrace the fact that I can take losses and it would not affect too much in the long run
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
I changed my psychology, my approach, and the time spent in front of the PC. I chose to make it the simpler as possible
- What is your mental/psychological strength, and how did you develop it?
Trusting the process and deeply believing that I will make a successful career out of trading
- What was your strategy to successfully passing The5%ers’ First Level?
As I said, it was quite simple. Identifying supply and demand and the daily momentum. Scale to 1hour chart and see a change in momentum in those areas and take a limit order
- How is trading for the5ers different from trading by yourself?
Well you don’t risk your money, you are more calm and relaxed
- What would you recommend to someone who is just starting with us?
Keep it simple and trust yourself
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
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