How were you introduced to trading? I knew about day trading stocks which is what then lead me to discover the Forex market.
After how much time did you become a consistent trader? I became consistent after about 2 and a half years. The thing that changed that allowed me to become consistent was my mindset. In order to be consistent you have to be disciplined enough to allow your trading plan to play out rather than always wanting to alter your trading style.
Do you have a specific trading plan? My trading plan consists of finding multiple reasons as to why I should place a trade in a certain direction. The reasons could be price being at a support or resistance zone, how candles are forming, and where price is at in market structure.
Please describe your trading routine? I usually trade GBP pairs so I wait for the London session which is midnight where I live. A couple of hours prior to the London session I am on the charts analyzing price action in order to get an idea of where price might be headed. After I decide what direction I believe the price will go I look for where I will be placing my take profit and stop loss.
Do you have any risk management techniques? If so, please, elaborate? My stop losses are based on market structure. If a certain price is reached I no longer consider that trade valid at that moment.
What was your biggest challenge in trading, and how did you overcome it? My biggest challenge was overcoming the urge of wanting to make money quickly. When you are in a rush it causes you to make all the wrong decisions. Over time, I realized that this a career just like any other that requires time in order to become proficient at.
What was the key moment of your trading career? Early on in my journey I had taken a trade with a high lot size for my account at the time and had lost most of my money on that account. After that I was only able to place a small lot size but ended up making more from the small lot size than I had lost with the larger lot sized trade. That taught me that with patience and risk management, I can get a lot further than if I was to tr to make money quickly by risking a lot.
What do you think are the most important characteristics for maintaining a stable trading career? Patience and discipline with sticking to your trading plan
Do you apply any mental/psychological routines while trading? Please elaborate. I like to acknowledge that it is just money and if I lose a trade I will still be fine in real life which is a blessing. Anything similar to this which allows me to remove the emotions from seeing the numbers fluctuate on the screen.
What was your strategy for successfully passing The 5%ers’ Evaluation Program? I made sure to follow my trading rules and was patient when it came to waiting for high probability setups. A tip I would give is to be patient and only take high probability setups because you have 2 months to pass the evaluation.
Please share your recommendations for online resources that were/are significant in your trading development. I learned at wsatraining.com
Would you like to share anything else with us? Good Luck to everyone.
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