Navid Ditched The Conventional Way On His Way To Success

We spoke with Navid about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

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• Tell us a little bit about you.
  I was born and raised in Sweden. Today I live in Turkey. I studied engineering but never actually worked in the field, as I was introduced to trading very early. Me and a friend developed an AI system that would use machine learning to identify exposure in trades, and we built on our system from that. I have been trading cryptocurrencies and Forex. I have been mentoring and coaching new traders for the past few years, as well as helping high net worth clients expose themselves to the currency markets.

• How long have you been trading?
  For around 10 years, I am a full-time trader.

• Briefly describe your Trading Plan and how it contributes to your success.
  I have no trust in technical analysis as it provides no logic, so I have been developing an in-house system where I mostly do volatility analysis in combination with liquidity to give me a fair understanding of where the current fair value in the market is. I trade any deviation to that fair value as long as it correlates with the current fundamentals.

• Share with us a challenge you faced in your trading career and how you overcame it?
  Psychology was and is the most difficult task in this business. I never really overcame this problem, but I have managed to heavily reduce its impact by developing a very conservative approach to risk.

• How did you adjust risk management to your trading personality?
  Since increased risk always has affected my psychology in a negative way, I had to find a way to limit my losses to a significant amount. This solution enabled me to never experience any prolonged periods of drawdown.

• Describe a key moment in your trading career.
  It was when I understood the relationship between volatility and fair value (liquidity).

• How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
  4-5 Years. I had to ditch the entire classical way of approaching the markets, the ways that are being taught on the internet.

• What is your mental/psychological strength, and how did you develop it?
  I once had a loss which I never could understand why, since everything on my calculations was perfect. My friend told me “Be happy that you lost and didn’t win on this trade, that’s where the danger is” and that sentence really got me thinking about how I should approach and review losses and wins. You never really want a win when you are doing something wrong, that will just cost you a fortune in the future. So I created a “rating” system that would mentally prepare me what to expect from a trade.

• What was your strategy to successfully passing The5%ers’ First Level?
  I cannot really reveal any details regarding this, but I work with a mixture of fundamental, volatility, and liquidity analysis. I have seen and experienced the flaws of trading a purely technical approach.

• How is trading for the5ers different from trading by yourself?
  It is not, I trade the exact same way. I opened a 5ers account to win an internal bet with colleagues to prove that it is perfectly possible to reach the 1.2 million funded account on 5ers compared to the impossible terms that are presented by the competing prop firms. I know this sounds like I am advertising 5ers services, but I am not. Competing firms promote gambling and higher risk, while you guys actually promote responsbile and a more conservative approach.

• What would you recommend to someone who is just starting with us?
  Most Forex traders fail early because they either have a very small account or they have the wrong approach to risk. Even if you fail with 5ers, the experience and value you will gain from trading a larger account is extremely important. Make use of this and measure your progress in % and not in $. This is a prop firm that has very attractive terms, take it seriously and success will come with time.

• Share online resources that were/are significant in your trading development. Name and links are appreciated.
  Microstructure of Foreign Exchange Markets by Evans and Rime and then we have Foreign Exchange Market Microstructure and the WM/Reuters 4 pm Fix by Michelberger and Witte

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