Interviews With Traders
Tan T. – A Consistent Trader Withdrew 6 Times For a Total of $14,341.52
October 12, 2023 | 2:05 pm | Interviews With Traders
October 12, 2023 | 2:05 pm
Interviews With Traders
We spoke with Tan about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
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Tan $60K High-stakes Funded Account
Tan $70K High-stakes Funded Account
- Tell us a little bit about you.
Before this career, I was an engineer. I was not happy with the job; then, I changed several jobs. I like the freedom of thinking and action, and a little bit risky. In 2020, I began Trading, and being attracted, I tried to learn more to understand the market I found out some things specific to my own trading. And keep developing day by day.
- How long have you been trading?
It’s been about 3 years, and I am a full-time trader.
- Briefly describe your Trading Plan and how it contributes to your success.
Normally, I start Trading at the Asian session, and then at the Europe session, I will consider what I should do. After the analysis, I will decide I need to close the position if something’s wrong, but if everything goes right, I will hold the position, even if I will add more positions. Then, at the New York session, I will close when it has profit or before critical news. The key is to control the stoploss and keep following the plan; do not out the potion too early.
- Please share with us a challenge you faced in your trading career and how you overcame it.
It’s hard to control my mind; sometimes, it goes up and down like the market. I need to stay away from the chart for just a few minutes, then come back. Sometimes, I also need the music to calm down. Then, it’s easier to control the actions.
- How did you adjust risk management to your trading personality?
After opening a position, I am ready with the stop-loss first. Then I can prepare the plan for stop-loss; a ready mind can help me deny the fear of stop-loss, and then I keep it until it hits stoploss. Calculatedly, I use the Risk Reward ratio 1:1; then, I need confirmation that more than 50% is the way the market goes.
- Describe a key moment in your trading career.
At the beginning of this career, I lost a big amount of money in this market, but then I learned it seriously and slowly and improved my skills every day.
- How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent?
it’s about 2 years, I think so.
- What is your mental/psychological strength, and how did you develop it?
In an interesting way, I trust my plan. If the plan goes wrong. let it be wrong; do not interrupt it. If it goes right, you just need to keep calm and add 1 more time of trust in your plan for the next trade.
- What was your strategy to successfully pass The5ers’ First Level?
Do not need to care much about 3 profit days in the rules. It helps me deny the pressure of making a profit. Start the first position with low risk; it’s about from 0,3% to 0,5% for 1 position, just go slowly. When my account has about 3% of profit, I can increase the risk to 1% or 1,5%, and 3% is the maximum risk. I usually use the risk-reward ratio of 1:1 for almost all trades.
- How is trading for The5ers different from trading by yourself?
Trading with The5ers, I always use stop-loss. Because of the big amount of capital, I have to calculate carefully the volume for every single trade.
- What would you recommend to someone who is just starting with us?
Let’s start with a small risk. When you have more profit, about 2% or 3%, you can increase the risk but never too high than the current profit.
- Share online resources that were/are significant in your trading development.
I like the Smart Money Concept. Just focus on the Order Block and Candle Signal. Try to find some simple moderns and do it several times, you will know more about the market. Do not need to learn all resources.
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