In this video, Alexander goes over The5%ers’ funding program and his personal evaluation process
How were you introduced to the Forex market?
I was first introduced to the world of day trading by a colleague of mine at university. From his book recommendation, I went on with my own research and developed my skills and knowledge within the forex world through time.
Do you have a specific trading plan? Two hours prior to the London session open, I build a fundamental bias based on market sentiment. I will take a look at major futures indices in order to determine if the mood is risk-on or risk-off. I then mark up my chart by identifying key areas of interest on intra-day timeframes and wait for significant price action in those areas before taking any trading decisions. The goal is to catch the London move and manage my trade throughout the North American session. If there is no entry opportunity during the London session, I will look into opportunities during the North American session. Finally, I only trade GBPJPY & GBPCAD and take no more than 3-6 trades per week.
Tell us about your trading routine. My trading routine involves daily exercise whether it’s 10 minutes or 60 minutes. It switches my body into an “ON” mode. Since I trade the London session in North American Time Zone (EST), I wake up in the evening time and kick start my day/night with my exercise routine. This helps me to stay woke and alert during my overnight hours of trading.
Do you have any risk management techniques? If so, please, elaborate? I tend to use a consistent position sizing, for example, 1% per trade or 0.5% for riskier trades. I go risk-free around 1:1 RR and take partial profits along the way to full take profit area.
What was your biggest challenge in trading, and how did you overcome it? My biggest challenge was my mindset. Once I understood that trading is like running a business and that you need to have a long term approach to it, I quickly overcame this weakness. I also understood how scalable this business can be and that focusing on return on investment rather than dollar figures made all the difference in my forex journey.
What was the key moment of your trading career? There was an indescribable moment in my trading career in which my trading knowledge turned into experience and that’s when everything just “clicked”.
In your opinion, what are the most important characteristics for maintaining a steady trading career? In order to maintain a stable trading career, traders needs a system in which they follow. In order to do such a thing, you need a strong mindset and a lot of patience.
Do you apply any mental/psychological routines while trading? Please elaborate. I don’t meditate per se, however, my exercise routine involves jogging and it is at that moment of the day in which I work on my psychology.
What was your strategy for successfully passing The 5%ers’ Evaluation Program? High probability trade setups with attractive risk-to-reward ratios was crucial in my evaluation process. I believe that my risk and trade management system greatly contributed as well. It allowed me to cut losses short and mitigate my risk whenever suitable so that I run trades without necessarily exposing the account to any risk.
Please share your recommendations for online resources that were/are significant in your trading development. Name and links are appreciated. My personal YouTube Channel
After how much time did you become a consistent trader? What aspects changed that helped you to become consistent? I became a consistent trader after 1 year of trial and error. The most important aspect for me that helped me become consistent was risk management.
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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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