Advanced Forex Blog
All Trading Actions Should Be Planned in Advance
November 12, 2020 | 2:13 pm | Advanced Forex Blog
November 12, 2020 | 2:13 pm
Advanced Forex Blog
The best ratio of earnings to losses can only be achieved by capturing the major trends, That’s Qiang Advice
“All Trading Actions Should Be Planned in Advance”.
Qiang has just successfully passed our evaluation program with a great trading plan and has become a forex funded trader.
He is now one of our funded traders and is trading with a 40K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 80K.
We spoke with Qiang about his trading plan, insights, and lessons gained while trading in the Forex market and on our platform as a funded trader.
Click here for more Inspirations lessons and interviews from our professional funded traders
- After how much time did you become a consistent trader? What aspects changed that helped you to become consistent?
After 8years of trade, I become a consistent trader. After years of trading experience, I gradually established my own trading system, with the focus on establishing a reliable trend judgment system, a risk management system, and a fund management system. Then I wrote my mature system into an intelligent trading system, and my trading became very consistent, stable, and will be consistent in the long term.
- Do you have a specific trading plan?
My trading focuses on the major trends in currencies because the best ratio of earnings to losses can only be achieved by capturing the major trends.This is my successful experience of cutting losses and letting profit run in the main trend.
- Please describe your trading routine?
My trading routine is integrated into my intelligent trading system, which is difficult to explain in detail here.
- Do you have any risk management techniques? If so, please, elaborate?
I have risk management techniques and system. Risk management depends on three aspects: a small trading position, a maximum stop loss (generally less than 100 points), and a reliable trend judgment system. Only when the trend is right, risk can be better controlled and managed.
- What was your biggest challenge in trading, and how did you overcome it?
My trading relies heavily on accurate trends, so the biggest challenge is to encounter volatility, but I have reliable stop-losses and the technology and risk management systems to identify volatility and minimize losses.
- What was the key moment of your trading career?
The key moment of my trading career is that I successfully developed a reliable trading system, and now successfully passing The 5%ers’ Evaluation Program and getting the approval of The 5%ers.
- Do you apply any mental/psychological routines while trading? Please elaborate.
When trading, psychological stability, no matter profit or loss, all trading actions should be planned in advance, let the system execute the established plan when trading, their psychological always keep stable.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
The most critical requirement of The 5% ERS ‘Evaluation Program is low risk. Therefore, in my trading, I should first control The position of The order, try to use small orders, and keep the total position as small as possible. Of course, controlling the position is not enough to pass The Evaluation, you must rely on your own good trading system, in order to obtain stable profits, in order to successfully pass The 5% ERS ‘Evaluation Program.
- Please share your recommendations for online resources that were/are significant in your trading development.
I generally browse myfxbook and MQL5 communities, but only for reference, really good trading technology must be developed by yourself.
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