Interviews With Traders

Interview With Swing Trader Kyle Who Passed The Freestyle in 8 Days

April 6, 2022 | 3:16 pm | Interviews With Traders
April 6, 2022 | 3:16 pm
Interviews With Traders
Interview With Swing Trader Kyle Who Passed The Freestyle in 8 Days

“Find a strategy that will work for your lifestyle and mentality.” That’s Kyle’s Advice.

Kyle S, 47 years old, From the USA.

Kyle is a level 3 funded trader on our low-risk program, and now he has also just successfully passed our Freestyle program in 8 days, with an 8% profit.

His next mission is to complete another 100 trades and keep a consistent performance to grow his Freestyle account to the next level, or 10% to double his low-risk account once again to level 4.

We spoke with Kyle 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.

Kyle S The5%ers Freestyle funded account

 

 

Kyle S The5%ers Freestyle funding factors

 

Kyle S The5%ers Freestyle funding factors

 

Kyle S The5%ers Freestyle trade duration

 

Watch The Interview With Kyle

 

  • How were you introduced to trading?
    I was always interested in trading, even at 5 years old I remember my grandpa looking at stock prices in the newspaper and after college, I was itching to trade. I was really curious about FX so when the opportunity arose it was perfect.

 

  • How long have you been trading?
    I have been trading for 10 years, and I am a part-time swing trader.

 

  • Briefly describe your Trading Plan and how it contributes to your success.
    I have a couple of trading plans but the one I use with 5er’s is basically watching daily candles and in some cases 4hr candles. I watch around 20 pairs and once they start moving I just let them ride as long as I can. If a pair is trending or choppy for a period I’ll look at 4hr charts to try and get some pips while watching for the next trend.

 

  • Describe your trading routine?
    I’ll wake up and look at my positions if there are any outliers and go through the 4hr charts, otherwise, I’ll wait till about an hour before the trading day closes and go through the charts and make any adjustments then.

  • What was your biggest challenge, and how did you overcome it
    System jumping. You can have a great system but horrible timing applying it which makes you rethink your strategy and abandon it. Of course, you shouldn’t stick with a losing strategy but it could be a winner in the bigger picture.

 

  • What do you think are the most important characteristics for maintaining a stable trading performance?
    Find a strategy that will work for your lifestyle and mentality.

 

  • How long it took you to become a consistent trader, and what aspects did you change that helped you to become consistent?
    Four years and still learning. The biggest mistake when starting forex trading was I had really big wins immediately so I thought this was normal. It lead to a lot of pain (since those big wins also are the same recipe for big losses) and took a while to undo this learning. System hopping also didn’t help. I took some breaks in between trading but eventually landed on a system that works for my lifestyle and comfort level.

 

 

 

  • What is your mental/psychological strength, and how did you develop it?
    It’s mainly finding a system that doesn’t keep you up at night. If you’re overly worried about a trade, you’re probably risking too much.

 

  • How is trading for the5ers different from trading by yourself?
    This one has obvious. Having larger capital to trade with leads to better profits. Also, I think less stress.

 

  • Share online resources that were/are significant in your trading development. Name and links are appreciated.
    James Stanley with FXCM was a great resource (https://twitter.com/JStanleyFX). He taught me price action and just really clean charts. Also amazing anecdotes from the trading industry and keeps things really in perspective.

 

  • Would you like to share anything else with us?
    Take a long view of things, if I would have traded in the beginning like I do now I would be much further ahead. Instead, the sprinting to massive gains just wears you out and you end up treading water.

 

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