Interviews With Traders
This is How Nutchapon Overcame His Trading Weaknesses
January 12, 2023 | 3:29 pm | Interviews With Traders
January 12, 2023 | 3:29 pm
Interviews With Traders
Keep trading, keep learning, and don’t forget to respect the market. That’s Nutchapon advice
Nutchapon N. is 34 years old, From Thailand.
Nutchapon has just successfully passed Level 1. He is now one of The5ers funded traders and is trading with an 80K low-risk funded account.
His next mission is to reach 10% of profit and double his funds to 160K.
We spoke with Nutchapon 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.
Apart from trading. I’ve been working in one of bank company as a data engineer. I love quantitative trading. Using data, numbers, and everything to create a trading strategy.
- How long have you been trading?
For almost 7 years now, I am a swing trader.
- Briefly describe your Trading Plan and how it contributes to your success.
The trading plan is simple, using lower risk but not too low Risk-Reward ratio should be over 1. Wait for the right moment, step away from the market if you can’t control your emotion, and respect the market.
- Please share with us a challenge you faced in your trading career and how you overcame it.
I know that I am not suitable for manual trading because I cannot control my psychology. So I decided to learn more about quantitative trading, building strategy by coding and everything. This way I can overcome my weakness and continue trading in the market.
- How did you adjust risk management to your trading personality?
Based on backtesting/forward testing. I will try to avoid corelative profits/losses in a day. And also adjust risk per trade by looking at the backtesting result (maximum drawdown). If the maximum drawdown is looking huge then I will decrease risk per trade to some reasonable value.
- Describe a key moment in your trading career.
It would be the first time I got stopped out from my trading account because of my emotion. So that day I decided to learn more about trading and how to overcome my trading psychology. Then I start to learn more about quantitative trading.
- How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
It took around 3 years for me to realize that I am not a manual trading guy. Automated trading is my way to go.
- What is your mental/psychological strength, and how did you develop it?
I know my weakness is psychology in trading. But I am not giving up that easily. So I adapt my stubborn-ish to learn a new way to trade. That is automated trading.
- What was your strategy to successfully pass The5ers’ First Level?
It is just a simple break-out strategy. The signal confirms from multiple timeframes. It will have a 50% chance or less to be in profit. So I need to make sure that the risk-reward ratio compensates for the losses.
- How is trading for the5ers different from trading by yourself?
They are not different. The rules of The5ers are flexible. So It suits me well.
- What would you recommend to someone who is just starting with us?
Keep trading, keep learning, and don’t forget to respect the market.
- Share online resources that were/are significant in your trading development.
https://www.youtube.com/@cwayinvestment, Chat with traders podcast
- Would you like to share anything else with us?
- Happy to join The5ers!
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