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Risk Less Than 2% of Your Account and Backtesting Your Big Winners are Ruben Trading System Rules
Ruben 31 years old, United States.
“Trading System Rules”.
Ruben 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 Ruben 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 first started trading stocks but was not available during the times the markets were open, so I started searching for other markets where I could trade and found forex. I was introduced into the common losing strategy and mindset of support and resistance, trendlines, Fibonaccis and psychological levels thinking I was going to get rich by trading large lots.
- Do you have a specific trading plan?
My plan is very simple, risk less than 2% of my account, I find trends on the daily chart, avoid having open trades during major news events for that currency and I have an exit indicator that tells me when there’s a possibility that the trend is over. Most importantly I don’t ever ignore my system or rules. I leave it alone and repeat over and over again.
- Tell us about your trading routine.
1. I check the volume for the market using a free tool available through the web called $evz. 2. I check the news to make sure I’m not jumping into major news events. 3. I open up every single major pair and check my system for entries, exits or do nothing. 4. Repeat everyday day before the daily candle close.
- Do you have any risk management techniques? If so, please, elaborate?
Risk less than 2% of my account at any given moment, the lower the volume the less I risk, when on losing streaks lower the volume. The ATR and the amount I risk will tell me where my stop loss and take profit will be.
- What was your biggest challenge in trading, and how did you overcome it?
My biggest challenge was FOMO (fear of missing out) I would jump into trades that weren’t “perfect” to my system, I overcame this obstacle by backtesting for hours and paying very close attention to the big winners and how they looked, then I only traded when the entries looked like the big winners in my backtesting, not the most fun but it’s how you get a high win percentage.
- What was the key moment of your trading career?
Key moment in my trading career was when I embedded the 2% risk into my trading system, so many people try to get rich overnight by over risking, this is so important, you can literally flip a coin to choose to go long/short and STILL make money just because of risk management.
- In your opinion, what are the most important characteristics for maintaining a steady trading career?
Patience and being relentless at the same time. Understanding that as a trader you need to play the long game, things you build quick usually go quick but at the same time you need to put in the work and see what works for you, getting to know yourself is very important.
- Do you apply any mental/psychological routines while trading? Please elaborate.
I usually don’t practice anything psychological, the only thing I keep telling myself in my head is “ wait for the perfect moment”. The market is cyclical and it’s not always in your favor, the time will come when the market will tell you to pull the trigger and it will be very obvious.
- What was your strategy for successfully passing The 5%ers’ Evaluation Program?
I took very small trades and stuck to my system, I also waited for the perfect moment to enter my trades.
- How long did it take you to become a consistent trader?
To become a consistent trader, it took me about a year, I was very lucky to find a way of trading with a very strict set of rules that allowed me to enter major trends on the daily chart with minimal risk. One of the most important aspects of learning how to trade is the psychology part, starting with understanding that this will take a while and not believing in the “magic” strategy with trendlines, fibs, support and resistance all of those things matter very little and they’re not a great strategy, what matters most is that you don’t give the market the chance to take large chunks of money from you and that you stop trying to get rich over night.
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