Always Stick To Your Trading Plan Says Our Newest Funded Trader
The 5%ers' Blog > Interview with traders
Trader Tips, Inspirations & lessons from The 5%ers’ Forex Funded Trader:
27 years old, Netherlands.
Rick.V. 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 $24K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 48K.
We spoke with Rick.V. about his trading plan, insights, and lessons gained while trading in the Forex market and on our
platform as a funded trader.
Rick.V. statistics on Forex Factory
How were you introduced to the Forex market?
- It was all about curiosity really, I’ve always been a “numbers” guy so this occupation just naturally attracted me.
Do you have a specific trading plan?
- I put an Algo system together on the daily time frame, I take a trade when I get a signal,
I prefer to risk no more than 1% – 1.5% per trade and per currency.
Also, I consider major news events coming up if the next daily candle has a major event in it I don’t take the trade.
Tell us about your trading routine.
- First, I look at the news events coming up the following day,
after that, I manage the trade that I am currently in. once thats done a spend most of my time looking for other opportunities.
- Do you have any risk management techniques? If so, please, elaborate?
My risk management is based on the 1.5 ATR,
Also, I have an exit indicator on my chart that is tighter than the 1.5 ATR so its rare that I take the hit of the 1.5 ATR.
My 1.5 ATR is a risk of 1%
What was your biggest challenge in trading, and how did you overcome it?
- I really feel that the biggest challenge for every trader is their own psychology,
I master it because I know my system works so I don’t put any emotion in a trade.
Even when I lose a few trades, I have faith that I will be back on top.
What was the key moment of your trading career?
- Finding my mentor who taught me how to trade the market.
In your opinion, what are the most important characteristics for maintaining a steady trading career?
- Make sure you always trade exactly the same way – over and over again,
Don’t let your emotion mind come in to play because it will eat your Return of investment.
Having solid risk management rules.
What was your strategy for successfully passing The 5%ers’ Evaluation Program?
- Trading my system, stick my plan, and continuously follow solid risk management rules.
How long did it take you to become a consistent trader?
- The first couple of years were hard but once I made it through with a solid system – I knew I was on the right path.
Would you like to share anything else with us?
- Thank you for having me as a 5% trader, I am looking forward to a long collaboration.
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