Interviews With Traders

How I Overcame The Root Cause For Trader Failure

July 29, 2021 | 11:50 am | Interviews With Traders
July 29, 2021 | 11:50 am
Interviews With Traders
How I Overcame The Root Cause For Trader Failure

Eliminate risk as the trade moves in your favor in case it suddenly reverses on you. That’s John’s Advice.

John N, 51 years old, From the United States.

John N has just successfully passed our Level 1. He is now one of The5ers funded traders and is trading with a 40K low-risk funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 80K.

We spoke with John 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.

John N account - How I Overcame The Root Cause For Trader Failure

John N graph

John N best profit

John N Advanced statistics

John N symbols data - Trader Failure

 

  • Tell us a little bit about you.
    Real Estate Broker, Property Manager, Forex Market Enthusiast.

 

  • How long have you been trading?
    26 years, Part-Time Trader.

 

  • Briefly describe your Trading Plan and how it contributes to your success.
    I trade dynamic support and resistance areas using a combination of Price, Time, and Volatility.

 

  • Share with us a challenge you faced in your trading career and how you overcame it?
    I suspect I have done most of the things that have been the root cause of trader failure including; risking too much of the account on each trade, over-trading, over-analyzing, too much screen time, trading without a plan, then creating a plan, changing the plan, not sticking to the plan. You name it; chances are I did it! Including paying tens of thousands of my money towards “tuition” for this painful education. I have learned to focus on, analyze and trade just one or two forex pairs, wait for my set up and execute my profit/loss orders. I have also learned to eliminate risk as the trade moves in my favor in case it suddenly reverses on me.

 

  • How did you adjust risk management to your trading personality?
    I finally put the odds of success in my favor by dramatically reducing risk to the account. The 5ers allowable risk structure turns out to be exactly what I needed.

 

  • Describe a key moment in your trading career.
    When I realized that markets were NOT random and that there were predictable, repeatable and calculable price and time patterns, I knew that trading was something that I would never give up on.

 

  • 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 experience many failures and successes in my 26 years of trading and market analysis. Becoming a consistent trader has been elusive mostly because of risk appetite and sticking with a simple trading discipline over the years. Lots of back testing of my basic trading plan and a greater willingness to sit on my hands and stick to my plan has allowed me to become a more consistent trader.

 

 

  • What is your mental/psychological strength, and how did you develop it?
    I have a good degree of patience now which I have developed from the aforementioned experiences.

 

  • What was your strategy to successfully passing The5%ers’ First Level?
    Trade the pound sterling us dollar pair only. I like the daily pip movement that would work for 20 pip target and stop with my strategy. Back testing showed potential for 75% winning trades. I succeeded with just 60% in 29 trading days. I’m happy.

 

  • How is trading for the5ers different from trading by yourself?
    Trading for The5ers gives me a financial partner I have to be responsible to and their risk parameters provide that structure. I like their capital growth plan way more than using my own capital. The goals are achievable and will get me a greater income in a much shorter period of time if I succeed.

 

  • What would you recommend to someone who is just starting with us?
    Create a trading risk management plan that keeps you in the game. If you have ever doubled or tripled an account before — you only have to make 76% to be trading a million bucks with The5ers. What an amazing opportunity!!

 

 

  • Would you like to share anything else with us?
    With the greatest respect and humility, thank you for this opportunity to become your partner in proprietary trading.

 

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