Successful Traders

This One Thing Changed Everything For Me In Trading

June 17, 2021 | 12:13 pm | Successful Traders
June 17, 2021 | 12:13 pm
Successful Traders
This One Thing Changed Everything For Me In Trading

Every scenario should be mapped out in a rules-based format, with no room for ambiguity or confusion. That’s Stuart Advice.

Stuart J, 39 years old, From United Kingdom.

Stuart has just successfully passed our Level 1, He is now one of The5ers funded traders and is trading with an 80K low-risk funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 160K.

We spoke with Stuart 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.

Stuart J account

Stuart J graph

Stuart J best profit

Stuart J Advanced statistics

 

Stuart J symbols data - in trading

 

  • How were you introduced to trading?
    Since I can remember, I’ve always been fascinated with it, but it wasn’t until the events of 2020 that made me sit up and take action.

 

  • 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 6months of pure education, not a strategy but the basics of price action and the psychology behind how the market moves. For me, it was important to learn how to trade, not just learn what to trade. After those 6 months, there was a heavy 3 months of backtesting, and this part was vital for allowing me to become consistent. Having a repeatable, verifiable trading plan means I can consistently enter the market knowing that the big picture probabilities are in my favour.

 

  • Do you have a specific trading plan?
    My trading is detailed to that extreme. In my view, every scenario should be mapped out in a rules-based format, with no room for ambiguity or confusion. It covers everything from specific trade entry criteria to what news events to avoid to what to do if my data feed fails.

 

  • Please describe your trading routine?
    Every day I’m up early before the rest of the house, and I perform my top-down analysis. Then, I work through my portfolio, going from the daily chart down to my trading timeframes in the same order. Consistency is key.

 

  • Do you have any risk management techniques? If so, please, elaborate?
    I’ve always traded a fixed percentage system with the idea that the value of each trade is so small that individual wins or losses don’t matter. It’s the bigger picture when they all add up that does.

 

  • What was your biggest challenge in trading, and how did you overcome it?
    Shiny object syndrome, when I first started out, I’d be chasing the next best system once I went back to basics, learned price action, and developed my own system that changed everything for me.

 

  • What was the key moment of your trading career?
    My first live trade, putting real money on the line for the first time, is scary stuff. It actually lost, but my second trade won bigger than the initial loss, and that just reaffirmed I was doing the right thing.

 

 

  • What do you think are the most important characteristics for maintaining a stable trading career?
    Treat your trading like a business, not a hobby. Consistency is key. You can’t expect to make consistent profits if you’re not consistent in your approach.

 

  • Do you apply any mental/psychological routines while trading? Please elaborate.
    Nothing specific other than doing the same things in the same order each day.

 

  • What was your strategy to successfully passing The5%ers’ First Level?
    Stick to your plan and trade like you would normally do. One of the things I love about The5%ers is that you’re not pressured to hit crazy profit targets in a crazy amount of time. You have the ability to trade with solid risk management and win in your own time.

 

  • What would you recommend to someone who is just starting with us?
    Have your trading plan in place and have at least a few months of live trading that show you could achieve success.

 

  • Please share your recommendations for online resources that were/are significant in your trading development.
    Akil Stokes at TierOneTrading.com has been instrumental in my success. I would not be writing this without him!

 

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