Interviews With Traders
The 3 Important Characteristics For Successful Trading
June 10, 2021 | 12:43 pm | Interviews With Traders
June 10, 2021 | 12:43 pm
Interviews With Traders
“Three important characteristics: persistence, patience, and discipline.”
Samuel has just successfully passed our Level 1 with a great trading plan.
He is now one of The5ers funded traders and is trading with a 40K low-risk funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 80K.
We spoke with Samuel about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
Click here for more Inspirations lessons and interviews from our professionally funded traders.
- How were you introduced to trading?
It was 4 years ago when Binary options were too popular on social media like Instagram and Facebook.
- How long did it take for you to become a consistent trader, and in which aspects did you make a change to become consistent?
It took me 3 years to realize that there is no Holy Grail, and from there, I think I can consider myself as a consistent trader.
- Do you have a specific trading plan?
Yes, I do have a trading plan. In simple words, this is my plan: I use HTF like Daily and H4 to determine my bias or order flow. Then, in LTF like H1 and M30, I use to look for setups determined by Stop hunts, break in the market structure of these LTF, and then a return to the origin.
- Please describe your trading routine?
Every day on the overlap of the Asian and London session, I look at the HTF to determine my order flow, and then I look if there is a setup formed to take. If yes, I place a limit order. If not, I wake up on the New York session to look for setups.
- Do you have any risk management techniques? If so, please, elaborate?
I only risk the 0,5% of my account. This % is divided in two with the purpose of looking for better entries and maximize my profits.
- What was your biggest challenge in trading, and how did you overcome it?
Definitely, psychology is the main factor that challenges every trader’s career, and I was not the exception. And the best way to overcome this challenge is to create a trading plan and backtest it like crazy to know your numbers and get confidence to start real trading.
- What was the key moment of your trading career?
It was last year in the worst moment of my trading career when I was a discretionary trader. I had too many losses, and even I was recording every trade I took on my trading journal, I kept making the same mistakes. Then I found a trading course that was very aligned with the concepts I already knew, and in the moment I finished this course, I understood the importance of a trading plan and the backtesting process.
- What do you think are the most important characteristics for maintaining a stable trading career?
I think there are only three important characteristics: persistence, patience, and discipline.
- Do you apply any mental/psychological routines while trading? Please elaborate.
I think if it can be considered one, apply my trading plan. That’s it
- What was your strategy to successfully passing The5%ers’ First Level?
Follow my trading plan with no doubt and taking all the setups price was showing me.
- What would you recommend to someone who is just starting with us?
Believe in yourself, be patient, develop a clear trading plan, have a goal in mind, don’t take signals from other people, be responsible.
- Would you like to share anything else with us?
Yes, grateful to you for this opportunity!
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