Day Trader Tips For Beginners, Inspirations & lessons from The 5%ers’ Forex Funded Trader:

Roedet.S.

42 years old, Netherlands.

Roedet.S. has just successfully passed our evaluation program with a great trading plan and has become a forex funded trader.

He is now one of our funded traders and is trading with a 40K forex funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 80K.

We spoke with Roedet.S. about his trading plan, insights, and lessons gained while trading in the Forex market and on our platform as a funded trader.

• How were you introduced to the Forex market?
  By a random trading book, which name I forgot. After reading the book I directly opened a demo account.
  From then on I just try to read everything about forex trading.

• Do you have a specific trading plan?
  Combination of fundamentals on a larger time frame and sentiment on a shorter period.
  Simple technical entries and exits (support/resistance)

• Tell us about your trading routine.
  At the end/start of the week, I already do my analysis, focussing on pairs that could make a move in the coming weeks, by following the fundamentals, economic calendars, news, and sentiment.
  For larger swings, throughout the week I am waiting for the price to react on my designated price levels.

Click here to learn how to Prepare for successful Trading Day

• Do you have any risk management techniques? If so, please, elaborate?
  I never risk more than 1% at the start of a position and split my positions into multiple portions.
  Adding into the position if the move is going in your direction.

• What was your biggest challenge in trading, and how did you overcome it?
  Try to make money instead of being right.

• What was the key moment of your trading career?
  A key moment when I was not just looking at the charts but was focussing on the fundamentals/sentiment.
  Although it is not always ‘logic’ but it gave me more confidence in the direction of price movement.

• In your opinion, what are the most important characteristics for maintaining a steady trading career?
  When you have a plan, stick to it. And more important to manage your risk.
  No strategy has only winning trades.

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• What was your strategy for successfully passing The 5%ers’ Evaluation Program?
  As described above. I already tried passing the evaluation program and failed.
  After just focussing on fundamentals on just a few pairs in a week after my weekly analysis, instead of trying to predict every nice chart setup, I was able to make more money in just a few winning trades while keeping my losing trades small.

How long did it take you to become a consistent trader? 

• approximately 3 years. Journaling and analyzing my trades and more focus on fundamentals and trading on a lager timeframes

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Resource

Forex Factory

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