Think of what you could lose rather than the potential gains. That’s Akpojotor Advice
Akpojotor A. 38 years old, United Kingdom.
“Record all the trades that you took and highlighting all losses due to discipline.”
Akpojotor has just successfully passed our Level 1 with a great trading plan.
He is now one of The5ers funded traders and is trading with an 80K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 160K.
We spoke with Akpojotor 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.
- How were you introduced to trading?
There was a discount offer on Groupon for a course, and this is how I got introduced to the forex market.
- After how much time did you become a consistent trader?
It took 1.5 years for me to be consistent, and I had to change my mindset by focusing on the process of understanding the markets and risk management, thinking of what I could lose rather than the potential gains. Ensuring that I always protected my trading capital.
- Do you have a specific trading plan?
Yes. I have a trading plan that details my risk per trade as well as rules for engaging the market. The price must come to certain areas of interest and will only look for entries if the price goes according to my anticipated direction and look for entries on lower timeframes.
- Please describe your trading routine?
Highlight areas of interest on a daily/4 hour time frame based on the daily/weekly trend. This is done on the weekend on the pairs I trade, ensuring my charts are all cleaned up and labeled for the new week. Set an alert at these areas and wait for the price to come to these areas and see if I get the reaction I am looking for. If the reaction is what I am looking for, I take the trade.
- Do you have any risk management techniques? If so, please, elaborate?
I have a risk of 0.4% per trade and a maximum of 0.8% in total.
- What was your biggest challenge in trading, and how did you overcome it?
Discipline was my biggest challenge, and I dealt with this by recording all the trades that I took and highlighting all losses due to discipline. This allowed me to address these issues the following week via my weekly review of all trades that were taken that week.
- What was the key moment of your trading career?
When I had a 1:10 RR, it gave me the belief that with time and patience, I can become proficient.
- What do you think are the most important characteristics for maintaining a stable trading career?
Discipline, Patience, and Trust in yourself.
- Do you apply any mental/psychological routines while trading? Please elaborate.
I use affirmations to control my emotional state and accept that I can lose on any given trade and be at peace with it.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
Good risk management with my lot size, ensuring I would have enough capital to keep trading even if I lost 6 trades in a row.
- Please share your recommendations for online resources that were/are significant in your trading development.
immasteryacademy
- Would you like to share anything else with us?
I am happy and grateful that I can work with such a wonderful company like the 5% ers
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