Interviews With Traders
Just an Average Guy Who Wishes to Turn His Passion Into a New Career
December 2, 2021 | 3:50 pm | Interviews With Traders
December 2, 2021 | 3:50 pm
Interviews With Traders
With solid R&M management, one could be profitable even if he was to flip a coin to decide whether to buy or sell. That’s Alexander Advice.
Alexander A, 41 years old, From the United Kingdom.
Alexander has just successfully passed our Level 1. 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 Alexander 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.
- Tell us a little bit about you.
Just an average guy who loves to trade the Forex Market and who wishes to turn his passion into a new career. Swing Trader.
- How long have you been trading?
I have been trading for years but only on the demo while trying to create a good strategy. I spent most of that time manually back-testing, tweaking, and changing different elements of my strategy’s algorithm.
- Briefly describe your Trading Plan and how it contributes to your success.
I have created an algorithm that takes all human emotion out of my trading. Entries and exit are very clear and need interpretation on my part. All the thinking went into creating the algo… now I just need to trust it and follow it.
- Share with us a challenge you faced in your trading career and how you overcame it?
No one amongst my friend & family trades so, looking back, I think the biggest challenge was to keep myself motivated while working daily to create something that I knew all along would have taken years and while not even sure it was ever going to work.
- How did you adjust risk management to your trading personality?
I didn’t really. I think Risk & Money Management is hands down the most important aspect of trading. Pretty sure with solid R&M management one could be profitable even if he was to flip a coin to decide whether to buy or sell. That said, The5%ers’s rules on risk allowance are the same I was following myself anyway. They make perfect sense to me and fully match my personality too.
- Describe a key moment in your trading career.
Well, I guess there are two key moments. The day I discover the Forex Market and today, the day I pass my trial and got to trade for the 5ers!
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
It took me a good 5 years. And I mean 5 solid years, working on it at least 5 evenings a week after work. What have I changed? What have I NOT changed! I change literally everything. Indicators (and settings), trading style, expectations, behavior, R&M management, and even time frame. Nothing remained as it was on day 1.
- What is your mental/psychological strength, and how did you develop it?
It’s rubbish! My mental/psychological strength is absolute rubbish. I’ am as emotional as he gets. I would be jumping and cheering at +20 pips and banging my head on a wall, ready to close any position already at -1 pip. This is exactly I wanted to create a strategy that pretty much follows blindly. I don’t open or close anything unless the algorithm I have created tells me to.
- What was your strategy to successfully passing The5%ers’ First Level?
In one sentence: “Do exactly what you have been doing so far. Stick to the plan. Don’t improvise. Don’t mess it up!”
- How is trading for the5ers different from trading by yourself?
The5%ers’s rules are exactly the same I was following before. I don’t trade the news, I keep my positions open on weekends and I never ever risk more than 1.5% of my balance in any single currency. The only two differences are the max-drawdown (which one wouldn’t necessarily have when trading on his own) and, obviously, the fact the the money is real! Ain’t no demo anymore.
- What would you recommend to someone who is just starting with us?
Don’t sign up as a way to learn and practice. Learn, practice and then sign up. Once you have a strategy that you tested, re-tested and you are confident it works, stick to it. Don’t change anything till you either pass or fail.
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
By far the main inspiration for my Forex strategy is VP at www.nononsenseforex.com
- Would you like to share anything else with us?
Yep. Boooy I’m excited!
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