Successful Traders
Interview With A New Funded Trader For The5ers Fx Proprietary Fund
September 5, 2018 | 8:43 am | Successful Traders
September 5, 2018 | 8:43 am
Successful Traders
Patrick, after 6 months of evaluation, the maximum time limit is at The5ers evaluation. B From the Netherlands has asked to extend his time limit. Since he was in a profit and seemed on the right path to hit the target, we let him 2 more months, and it was worth it; finally, After 8 months, he passed the evaluation. He was a very consistent, disciplined, and stable Trader; here is Patrick’s Interview.
Name: Patrick. B
Age: 56
Country: Netherlands
Please describe your trading journey. How long have you been trading? When do you become consistent? What made the change for you?
- When I joined the army in the early ’80s for 5 years, I met with a colleague trading stock options who introduced me to trading. We started a small investor group with interested people using a fundamental and straightforward process. We jointly analyzed the market and stock picks and decided on our action plan for the coming week using newspapers, trading magazines, and Teletext with only a 15-minute delay and lots of beer and wine. One of the women was monitoring Teletext for the price levels all day, and when it reached our objectives, she called each one of us for confirmation, after which we could all call our banks to put in our orders. The next day, we had to call the bank again to get confirmation of whether our order had been filled and at what price level (talking about latency, etc.). We made some spending money, learned a lot, and had loads of fun doing it. After I left the army and group, I started a busy career with little time for trading, only until many years later, when I found a passion for trading again.
How were you introduced to trading?
- My first meeting with the principle of trading was when I was a young boy around 8 when my father was administrating his stock certificates. When I asked him what it was, he explained to me the basic principle of trading stocks, and I did not understand why not everybody was earning their (“easier”) money through stocks. Since then, I have been intrigued, and it has put a little nudge in my brain and a glow in my heart for a later period in time.
Describe your trading plan.
- Using technical analysis, time, and price to find necessary levels and setups for trade.

Tell us about your trading routine.
- Using my own weekly trading matrix, I analyze the markets for confluences or divergences, build a case and context for an HTF to LTF bias, and aim for setups to form and act upon.
How do you manage risk in your trading? Do you have a risk management Technique you can explain?
- I often use strict risk and money management rules, using limited stop loss, trying to reduce risk to break even as soon as reasonably possible, taking partial profits to prevent zero gains when markets turn around against a position, and building mental credit through partial profits. Prevent and dismiss over-trading or over-leveraging.
What was your biggest challenge in trading, and how did you overcome this?
- Handling losses by looking at inevitable losses as a cost of doing business, no losses, no business gains, no pain, no gain.
What was the key moment of your trading career?
In your opinion, what are the most important characteristics for maintaining a steady trading Career?
- Patience, following a plan, waiting for the right circumstances to become optimum for higher probabilities, executing at the right time or set up, and even more importantly, Not executing when things are not lined up correctly or with many uncertainties or inconsistencies.
What is the most essential trading mental aspect, and how do you apply it in your routine?
- Perseverance, never give up, and keep applying and developing your knowledge daily.
What is your strategy to successfully pass the5%ers evaluation account?
- Adapting to changing market conditions
Please share your recommendations with online resources that were significant to your development path. Names and links are appreciated.
Please write anything you think is important but was not asked.

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