Great Trading Plan to Become a Forex Funded Trader
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Waiting for the price to encounter high liquidity zones by Brad.S.
28 years old, United States.
Brad.S. 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 24K forex funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 48K.
We spoke with Brad.S. 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
- How were you introduced to the Forex market?
I was always intrigued by it, but I was first introduced to the markets when I started to search online for ways to quantify my income and was looking for something that could give me freedom.
Once I got into trading, I knew that it was what I wanted to do.
- Do you have a specific trading plan?
Absolutely, I find zones on the chart where I suspect a lot of liquidity would be resting (mostly above/below key high time frame swing points) and I wait for the price to encounter these zones and make my judgment if it is time to enter the trade or not.
- Tell us about your trading routine.
I like to wake up early, stretch, do some breathing exercises and get ready mentally,
To monitor the London session for opportunities that could provide a good set up for the remainder of the day.
- Do you have any risk management techniques? If so, please, elaborate?
Yes! I make it a point to use very low lot sizes (0.5% of equity and sometimes even less),
It allows me to have a very slow and steady approach and keeps me unattached to trades when they become winners or losers.
- What was your biggest challenge in trading, and how did you overcome it?
In many categories of life, I was very much so a “risk-on” individual.
When it came to trading I had to learn how to manage and restrict this aspect of my personality to gain consistency in the market.
- What was the key moment of your trading career?
I would say becoming a funded trader for The5ers marks the beginning of a very exciting moment in my trading career and I’m very excited to take this as far as I possibly can.
I feel I’ve matured as a trader and this is the step I needed to take my trading game to a whole different level.
- In your opinion, what are the most important characteristics for maintaining a steady trading career?
The ability to control your risk, and keep a very balanced and “cool head” in the marketplace in all different market conditions.
- Do you apply any mental/psychological routines while trading? Please elaborate.
Yes, I practice breathing exercises that help me smooth over my readiness to trade,
It helps me to allow the trades to come to me instead of trying to force a trade just to get into a position that I shouldn’t waste time on.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
I was very disciplined with my trading for the evaluation, strict position sizing and knew when to cut losers quick, as well as my approach,
It was very slow and steady from the very start, which I think gave me a huge psychological advantage because I was in no rush to trade the account up.
- Would you like to share anything else with us?
You are your greatest asset and your greatest liability.
Find the yin to your yang and create balance in your life in as many ways as you can.
The more and more you practice this way of living you will find yourself overcoming your flaws & setbacks as a trader & it will reflect back to you in the form of a positive P&L ???.
- How long did it take you to become a consistent trader?
I got very lucky in my first 6 months trading, and it offered me the ability to dedicate with discipline,
All of my attention span towards learning/studying/ real application of strategies in the market full time.
But I really didn’t find consistency until about 1 year ago.
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