Interviews With Traders
This is What Gave Lester Fuel to Become an Outstanding Trader
January 27, 2022 | 3:14 pm | Interviews With Traders
January 27, 2022 | 3:14 pm
Interviews With Traders
We spoke with Lester 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.
I am from Nicaragua, a country from Central America where trading is not a common business activity. I have an 8 to 5 regular job and started trading part-time. I love to work out, do weights, meditate, box, read and learn everything about personal development.
- How long have you been trading?
I have been trading for three years now. I am a swing trader.
- Briefly describe your Trading Plan and how it contributes to your success.
I scan the markets during the weekend using the weekly and daily charts. I have a play book of setups and price actions patterns that I like to trade so I add alerts in different pairs and prices and then I review the structure and if it has a nice potential risk-reward ratio I go in.
- Share with us a challenge you faced in your trading career and how you overcame it?
I found out about trading when I joined a multilevel network marketing company that offers education. Some people from the organization were promoting a PAMM account, so I invested in it and promoted it, too, while in the meantime was learning how to trade for myself. The bottom line is a lot of people lost money, including me and people who I suggested to, so I took that set back to learn how to trade and earn money to pay friends and family who invested because of me. It took me a year to do that, but I did it, and it was the fuel to get me good in trading.
- How did you adjust risk management to your trading personality?
I think risk management adjusted me. It was only until I developed a risk management base strategy that I became profitable in trading. I place positions only if it has at least a 3 to 1 risk-reward.
- Describe a key moment in your trading career.
The key moment was when I decided to do trading as a real business. I decided in my mind to make this work and do whatever I can and whatever I need to accomplish success in my trading career.
- 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 two years to become consistent. I started Journaling all my trades reasons and taught processes during and after the operation was done. I started to trade only setups that make sense to me and avoid over-trading. I focused more on risk-reward and building a probability mindset.
- What is your mental/psychological strength, and how did you develop it?
I started to record a more larger sample of trades, from 20 to 25 different entries, and then review it to get disattached from results and focus more on the process. I started to meditate and become more aware of the mind I am bringing to trading. In that process, I started to recognize lots of bad habits taught and programs and work with myself to build a different mindset that helps me be a great trader
- What was your strategy to successfully passing The5%ers’ First Level?
My strategy was to wait for turn backs in the market and try to catch big moves with potential good risk-reward benefits.
- How is trading for the5ers different from trading by yourself?
You have to trade like a pro, do the work, journal, track, not overtrade and be mindful every step of the way.
- What would you recommend to someone who is just starting with us?
It will be worth it for the person you will become during this process. Focus on yourself and develop the skills and the mind to be the best trader, you will be fine, you can do this.
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
Tom Hougaard, Mark Hutchinson, Karla Alvarez Bogado (karlacohete), Rande Howell.
- Would you like to share anything else with us?
Believe in yourself, to god be the glory.
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