Interviews With Traders
It’s Not an Analysis Game But a Mental Game
April 15, 2021 | 3:21 pm | Interviews With Traders
April 15, 2021 | 3:21 pm
Interviews With Traders
Trust your process, there will be ups and downs., That’s Max Advice
“It’s not an analysis game but a mental game.”
Max 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 forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 80K.
We spoke with Max 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 professional funded traders.
- How were you introduced to trading?
- After how much time did you become a consistent trader?
Three years, then switched trading style, then an additional two years.
- Do you have a specific trading plan?
I have a trading plan, and I believe having one is the most important part of someone’s trading career. You need to know the data to have enough confidence to keep executing while the market isn’t working in your favor in the short term. I trade supply and demand while using a multi-timeframe analysis.
- Please describe your trading routine?
Get up for 6:30, do my watchlist, have it ready by 7 am when the 4hour candle closes – execute trades on the 4hour candle close, which enables me to work on other projects or to be outside while I am traveling. Every day is the same. All I do is execute when a trade fits my trading plan.
- Do you have any risk management techniques? If so, please, elaborate?
- What was your biggest challenge in trading, and how did you overcome it?
To remain in the game when all I want is to take a break because I’ve had a few losses – I need to keep executing.
- What was the key moment of your trading career?
When I realized it’s not an analysis game but a mental game – I started to have a few coaching calls with Jared Tendler, a poker coach, which enabled me to improve my trading results.
- What do you think are the most important characteristics for maintaining a stable trading career?
Being honest with yourself while sticking to your trading plan, analyzing how you feel, and being able to backtest several years of data
- Do you apply any mental/psychological routines while trading? Please elaborate.
Yes, I have a map of my fear and greed levels so I can identify those emotions early on – it helps reduce the likelihood I go on tilt, and I have some reinforcing sentences to rebalance myself. One of them is: I’ve spent thousands of hours backtesting this trading plan, I have over 500 trades sampled in it, I’ve tested multiple variations. Am I really going to change it all just because I feel like it? No. Stick to your plan.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
I started the 5ers program in a rather “rough” time for my trading strategy, Q4 was slightly negative, and January was surprising. However, I managed to remain calm and execute on my set-ups. Once February hit, I realized I need to increase my risk due to the time limit on trial without changing my plan. The only tip I can give is, trust your process, there will be ups and downs.
- Please share your recommendations for online resources that were/are significant in your trading development.
Newcapitalfx.com – is the trading style I work with bullishoncoffee.com – is my website where I share my trades and watchlist https://jaredtendler.com/ is the poker coach that helps me work on my mental game Book wise I would recommend Mental Game of Poker 1 & 2 / Meditations by Marcus Aurelius / The autobiography of Andrew Carnegie.
- Would you like to share anything else with us?
I am happy and grateful that I can work with such a wonderful company like the 5% ers
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