Tell us a little bit about you. I live currently in the UK, but I am from Romania. I have been trading for about 3 years and a half, but my first contact with trading was about 5 years ago with one of the binary options company, which proved to be a scam. A bit later, after that, I started to look for more information about trading, what it actually means, and how it works, and bit by bit, I started to love it more and more as I started to learn about it.
In my early days, I thought that if I mastered the technical know-how, I would be able to make it until I found out about the psychological side of trading, and later on, I learned that actually, that was my biggest weakness. Over the last two years, I had around 8 attempts, and I failed them, but each fail gave me an important lesson and took me closer and closer to where I stand today.
This year was actually the year when I started to see real progress when I finally decided to look at what I was doing wrong and correct the mistakes. The rest of 2 and a half years were just a mess.
How long have you been trading?
I have been trading for about three and a half years, and I am a swing trader.
Briefly describe your Trading Plan and how it contributes to your success. My trading plan is built on the strategy that I use to filter my entries and context, but I also keep an eye on the news. I am using Bollinger bands and stochastic strategy, which I always look to be aligned with the context (in matters of supply/demand levels and price action). I normally risk between 0.25 and 0.5 on trade. However, sometimes, I do Take bigger risks depending on volatility, but I make sure to lower the risk as soon as possible, and I always prepare myself mentally for the chance of a drawdown recovery in case it happens.
Share with us a challenge you faced in your trading career and how you overcame it? My biggest challenge in trading was mastering myself, especially my emotions, and I realized that the only way to master it was to expose myself to the real market conditions. That is why I had 8 consecutive fails. So the only way to overcome your weaknesses is to expose yourself.
How did you adjust risk management to your trading personality? First, I thought I was okay with risking 1 or 2 percent on trade until I realized that taking lower risks did help me to remain calm. Then, I found that sweet spot between 0.25 and 0.5 percent simply because now I am impulsive, and if I take a small loss, it will not trigger any anger or the impulse to recover that loss fast.
Describe a key moment in your trading career. The key moment in my career is definitely becoming a funded trader and part of The5ers team.
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 about a year. The aspect that I had to change was the consistency in my actions and looking into the habits that were giving me losing trades.
What is your mental/psychological strength, and how did you develop it? Staying calm, I developed that by trusting my approach and sticking to it.
How is trading for the5ers different from trading by yourself? Trading for The5ers was definitely a game-changer for me, thanks to all the resources and the guidance received during the trading rooms. So far, it was an amazing experience, and it has helped me improve my trading massively in a short time.
What would you recommend to someone who is just starting with us? Use every piece of knowledge The5ers provides and trust me, you will see massive progress in no time.
Share online resources that were/are significant in your trading development. Name and links are appreciated. An amazing resource for the psychological side of trading and a nice technical approach is The Duomo Initiative. They are talking a lot about the psychological side of trading, weaknesses, and much more
Would you like to share anything else with us?
Special thanks to The5ers and The Duomo Initiative for all the knowledge that helped me become the trader I am today.
The 5%ers Funding Forex Traders & Growth Program is a trademark brand name owned by FIVE PERCENT ONLINE LTD. ISRAEL (LEI: 894500CK24MUEFQG0E92) and its UK Subsidiary FIVE PERCENT ONLINE LTD,
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Risk Disclosure: The services provided on this website are professional skill-assessment services. The outcome of the proposed services is necessarily determined by the individual professional skill level and ability to perform under the program guidelines and objectives as elaborated for each service separately. Clients are advised to conclude a thorough study of the requirements of the program before signing up for any of the services.
Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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