Successful Traders

Newest 5%ers Funded Trader Shares Key Secrets To The Success Of His Trading Plan

August 5, 2019 | 9:19 am | Successful Traders
August 5, 2019 | 9:19 am
Successful Traders
Joshua.D. has just successfully passed our evaluation program

Trader Tips, Inspirations & lessons from The 5%ers’ Funded Trader:

Joshua. D.

23 years old, Australia.

Joshua.D. has just successfully passed our evaluation program with a great trading plan and become a funded trader.

He is now one of our funded trader’s and he is trading with a $40K funded account on our platform.

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

We spoke with Joshua.D. about his trading plan, insights, and lessons gained while trading in the Forex market and on our

platform as a funded trader.


How were you introduced to the Forex market?

  • My own curiosity into the industry led me to begin trading over 4 years ago now.

I began trading Australian Equities intraday for about 12 months before moving over to FX, Commodities & Indices.


Describe your trading plan.

  • Yes. An outline of high probability trade setups, standardized risk management and exposure management framework.

My plan is also unique by the market (given the underlying variations of technical characteristics and price structure)

And allows me to adapt my strategy where required.


Tell us about your trading routine.

  • A typical trading routine will consist of market forecasting (price structures, waves, chart patterns, demand/supply zones),

Backtesting my strategy across new markets,

Forward-looking at event risk and monitoring/executing existing and new trade opportunities.


How do you manage risk in your trading? Do you have risk management techniques?

  •  I size opportunities on conviction albeit within a 0.50% – 1.50% risk framework.

Where possible I look to eliminate risk via trailing stops beyond my entry-level and then by price structure depending on the setup.


What was your biggest challenge in trading, and how had you overcome this?

  • Psychology and mindset. Problems including FOMO.

Chasing my tail and not considering probabilities in the market were my biggest challenges.

The key to overcoming the challenges was through a tireless amount of backtesting my strategy against the markets,

I operated within and creating a trading plan which was consistent with considering probabilities in each trading opportunity I come across.


What was the key moment of your trading career?

  • By keeping an accurately detailed trading journal, I am able to track my adherence to my trading plan over the past 24 months.

The stronger the adherence the more consistent my trading plan results became,

Which has dramatically improved over the past 12 months in particular.


In your opinion, what are the most important characteristics for maintaining a steady trading career?

  • A high degree of objectivity, the ability to stay neutral, complete acceptance of probable outcomes in the market,

Complete acceptance of risk, a high level of technical skill/ability and balance in other areas of your life.


What is the most important trading mental aspect, and how do you apply it in your routine?

  • Nothing specifically. I look to avoid any behaviors/influences which may affect my trading plan decision flow process/bias however no routine per se.


What was your strategy to successfully passing The 5%ers’ Evaluation Program?

  • Complete adherence to my trading plan.

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