Earl.P. has just successfully passed our evaluation program with a great trading plan and has become a forex funded trader.
He is now one of our funded traders and is trading with a 40K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 80K.
We spoke with Earl.P. about his trading plan, insights, and lessons gained while trading in the Forex market and on our platform as a funded trader.
How were you introduced to the Forex market?
Do you have a specific trading plan?
1) Only enter trades on Tuesday, Wednesday, Thursday during the London or New York Sessions.
2) Only look for entries on the Daily, 4hr, and possibly 1hr timeframes.
3) Only look for trading setups at Key Support or Resistance Levels.
4) Remove %50 at 1R and exit remaining amount at the next level
The profit target is always at least 2:1 win/loss ratio.
Tell us about your trading routine.
1) I read a devotional.
2) perform meditations.
3) Readout loud the fundamental truths from The “Trading in the Zone” book.
Do you have any risk management techniques? If so, please, elaborate?
What was your biggest challenge in trading, and how did you overcome it?
What was the key moment of your trading career?
In your opinion, what are the most important characteristics for maintaining a steady trading career?
Do you apply any mental/psychological routines while trading? Please elaborate.
5 Fundamental Truths
1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening over another.
5. Every moment in the market is unique.
I Am A Consistent Winner Because:
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility to making errors.
7. I understand the absolute necessity of these principles of consistent success and therefore, I never violate them.
What was your strategy for successfully passing The 5%ers’ Evaluation Program?
How long did it take you to become a consistent trader?
Would you like to share anything else with us?
Earl.P. statistics on Forex Factory
The5%ers let you trade the company’s capital, You get to take 50% of the profit, we cover the losses. Get your trading evaluated and become a Forex funded account trader.Get Your Forex Funded Trading Account