“Trading with The5ers helps me manage capital and psychology better than trading alone”
MINH QUAN T. is 32 years old from Vietnam.
MINH QUAN T. is one of The5ers’ $125K funded traders. He made a total payment of $22,158 & scaled his account.
We spoke with Ryno about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
Click here for more inspirational lessons and interviews with our professionally funded traders.
Minh‘s $100K High-Stakes 2-Step Evaluation Account
Minh‘s $100K High-Stakes Funded Account
Tell us a little bit about yourself.
I am a full-time trader. I live and work in Vietnam, a peaceful and beautiful country. I love trading and sports. Every day, I usually read financial news and then analyze it to create trading plans.
How long have you been trading?
I have been trading for 10 years.
Briefly describe your Trading Plan and how it contributes to your success.
I build my trading plan based on economic news such as interest rates, unemployment rates, inflation, and more. I use these to analyze long-term trends. Alongside this, I analyze candlestick chart structures to determine where I am within that structure. Next, I use indicators, resistance and support levels, and price action to identify entry points for trades. Then, I plan my capital and risk management. Afterward, I continuously monitor to ensure the plan is executed according to the outlined scenarios.
Please share a challenge you faced in your trading career and how you overcame it.
In the beginning, I often couldn’t stick to the trading plan I had set out. I was constantly influenced by emotions like fear and greed, which led me to trade in an uncontrolled manner. I overcame this by learning from my mistakes. From there, I changed my trading mindset. I spent a lot of time backtesting and trading on a demo account to build habits for managing emotions and capital.
How did you adjust risk management to your trading personality?
My trading style is quite cautious. I always set a risk limit below 1% of my account for each position. I avoid trading during major news releases. If the market moves against my plans on a given day, I pause to review my trading strategy.
Describe a key moment in your trading career.
For me, the most pivotal moment in my trading career was realizing that consistency in trading is what determines stability and sustainability. I understood that steady, sustainable profits are the goal I aim for, not rapid profit spikes in a short period. To achieve this, I need to practice extensively to manage emotions and capital with discipline, thereby creating consistency in my trading.
How long did it take for you to become a consistent trader, and what aspects did you change for that?
It took me over five years to become a professional trader. I had to change my trading mindset, psychology, and habits to achieve that.
How is trading for the5ers different from trading by yourself?
Trading with The5ers helps me manage capital and psychology better than trading alone.
What would you recommend to someone who is just starting with us?
Plan and manage your capital effectively. Maintain a strong mindset and trade consistently.
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