How were you introduced to trading? My parents were the ones who introduced me to Forex (so thank you!) They knew I was not happy working a 9-5 job so they told me about trading. The rest is history…
After how much time did you become a consistent trader? What aspects changed that helped you to become consistent? It took me years to become consistent… The hardest part is to master my emotions in trading…Once I can let go of all of my emotions, I start to become profitable.
Do you have a specific trading plan? Definitely. This is the key to my success. I think it is not just about having the trading plan, but the implementation of it. So I’ve been disciplined and committed to follow the plan and I got the reward.
Please describe your trading routine? I only check the market every 4 hours. If I don’t see any setups, I don’t trade.
Do you have any risk management techniques? If so, please, elaborate? As part of my trading plan, I always decide how much I will risk per trade at the beginning. For this particular challenge, I risk between .5 – .75% per trade. And I also have exit strategies. Most of the time, I will not let my trade hit my SL because my exit strategy will let me know to get out of the trade early, and this saved me a lot of money.
What was your biggest challenge in trading, and how did you overcome it? I think when I had to deal with a losing streak. There was a time when I reached $478 profit and it was so close to passing the challenge but then I had losses so it went down back to only $100 profit. I kept my cool, kept calm, and keep following my plan.
What was the key moment of your trading career? I think the key moment of my trading career is when I got a job in a Forex broker company, as a trader. That was my dream job. Not only managing funds but I also trained other traders and became a speaker in a Forex seminar. This was an amazing experience.
In your opinion, what are the most important characteristics for maintaining a steady trading career? For me, I want to make sure I survive in the long run so I must manage risks. Trading is a risky business and we can’t expect to make money all the time. So I always try to have another source of income so when I do not make any money from trading, I won’t be stressed.
Do you apply any mental/psychological routines while trading? Please elaborate. Let your profit run and cut your losses. I check my trades every 4 and 8 hours. The more you spend time in front of the monitor, the more you will make stupid trading decisions.
What was your strategy for successfully passing The 5%ers’ Evaluation Program? I use the Engulfing pattern to trade this particular challenge. To be honest, you can pass this challenge with any strategies. The key here is to make sure you have good risk-reward ratio so your average wins are bigger than your average loss. if you do this, you will pass the challenge.
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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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