How to manage psychologically a 160K account
Franklin L. 27 years old, United Kingdom.
Franklin has just successfully passed our Level 1 and level 2 with a great trading plan.
He is one of The5ers funded traders level 3 and is trading with a 160K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 320K.
Only focused on one community that works for you. That’s Franklin Advice
We spoke with Franklin about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
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Watch the interview with Franklin L.
Franklin’s $20K funded account (level 1)
The5ers level 1 conducted on a real live account, Franklin completed the level 1 process by reaching the 7% target in only 20 days.
Franklin’s $80K funded account (level 2)
Franklin reached the 10% target and doubled his funded account to $160k according to The5ers growth program with only 6 trades.
- How were you introduced to trading?
A friend in 2015.
- After how much time did you become a consistent trader?
I become consistently profitable 3 years after starting to learn about FOREX. Learning about the education aspect made all the difference as before that I was just buying and selling anything and everything without a plan or risk management.
- Do you have a specific trading plan?
Yes, Very Short, Very SPECIFIC. Contains conditions of my pattern, entry, SL, TP, Trade management, suggested pairs, and watch-outs.
- Please describe your trading routine?
ATRIO FX provided me a morning routine which is inspired by Mark Douglas, and this morning routine evolves around the 5 trading truth. I go over the 5 trading truth but focus on the WHY, so why can anything happen in trading, why do I not need to know what is going to happen to make money, why is my strategy/edge ONLY a probability of one thing happening over another, why is the market unique and so on. The process works the same way an affirmation or auto-suggestion does.
- Do you have any risk management techniques? If so, please, elaborate?
Yes, Only risk 1% and move the SL according to the progression of the trade.
- What was your biggest challenge in trading, and how did you overcome it?
Creating a strategy from scratch – Find proven strategies through ATRIO FX.
- What was the key moment of your trading career?
Realizing the power of psychology
- What do you think are the most important characteristics for maintaining a stable trading career?
Create goals and understand the huge part psychology plays in your life, especially beliefs.
- Do you apply any mental/psychological routines while trading? Please elaborate.
I repeat the 5 trading truth by Mark Douglas but focusing on the WHY rather than just the statement, and this helped me form these statements as my beliefs which then allows me to act on them, sometimes without me even thinking about it. I also read or listen to something about the mind every single day as it is all in the mind, the more I learn, the more I can control it to produce what I want.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
Adjust your risk to accommodate the evaluation process risk requirement, I personally divided the 4% risk by 10 to give myself a room of up to 10 losses in a row, knowing that there is a very small probability that my pattern would not play out 10 times in a row. Trade the exact way you have been trading, which has resulted in you being successful. It was like trading my own account, a walk in a park.
- Please share your recommendations for online resources that were/are significant in your trading development.
www.atriofx.com – Working close with traders to help them develop the skills required to obtain a funded account – Such as 5%ers – Cutting edge and supportive social community platform.
- Would you like to share anything else with us?
Thank you for the opportunity, and I look forward to working with you and rising to level 6 – mentally, I am already there.
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