Interviews With Traders
The5%ers Helped me Develop my Discipline and Risk Management Skills!
December 23, 2021 | 3:50 pm | Interviews With Traders
December 23, 2021 | 3:50 pm
Interviews With Traders
Losing is part of the trading process. Accept it and prepare for it! That’s Thomas Advice.
Thomas N, 57 years old, From the USA.
Thomas is one of The5ers level 3 funded traders and is trading with a 104K low-risk account on our platform.
His next mission is to reach 10% of profit and double his funds to $208K.
We spoke with Thomas 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.
Level 1 Low Risk $13K Account
Level 2 Low Risk $52K Account
- Tell us a little bit about you.
I am a Forex Trader with more than 10 years of experience.
- How long have you been trading?
I have been learning and trading on and off for more than 10 years.
- Briefly describe your Trading Plan and how it contributes to your success.
I read the monthly, weekly, and daily charts to see the big picture ( trends, patterns ) and to draw important support and resistance levels. Then I look at the last weekend’s close price and the last day’s close price and I read the Forex economic calendar to plan my daily trading. I use price action and high probability strategies for daily scalping trading.
- Share with us a challenge you faced in your trading career and how you overcame it?
My biggest challenge was mostly psychological: indiscipline and risk management. My challenge and experience with The 5%ers have really helped to train my discipline and risk management skills.
- How did you adjust risk management to your trading personality?
I determined the maximum draw-down and determined how at least 20 trades to fit into it. I tried not to have continuous losses for more than 5 trades. I used statistics and probability methods in trading and money management strategies.
- Describe a key moment in your trading career.
When I challenged The 5%ers’ Evaluation Program in 2019.
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
I have become consistent since challenging The 5%ers’ Evaluation Program for about 2 years.
- What is your mental/psychological strength, and how did you develop it?
I set my mind on these things: ” Losing is part of the trading process. Accept it and prepare for it! So what is the next trading plan? “
- What was your strategy to successfully passing The5%ers’ First Level?
I use price action and high probability strategies for daily scalping trading. Although I trade every currency pairs which I see high probability trading setups, but I try to master and I am used to focus on EUR/USD.
- How is trading for the5ers different from trading by yourself?
The 5%ers have really helped to train my discipline and risk management skills.
- What would you recommend to someone who is just starting with us?
The5%ers’ funded program and support are really helpful. GREAT! Look forward to a long-term relationship with The5ers and Growth Trading Program.
- Would you like to share anything else with us?
I look forward to a long-term relationship with The5ers and Growth Trading Program.
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