$40K Funded Trader Withdrew $5,573 & Scaled His Account Twice

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

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Sanjay’s $20K High-Stakes Funded Account

Sanjay’s $30K High-Stakes Funded Account

Tell us a little bit about you.

Hi, my name is Sanjay Singh. Professionally, I am a hotelier, but my true passion lies in trading. I’ve been based in Dubai for the last seven years, though I’m originally from India. My trading journey began in November 2022, and over the last two years, it has become a significant part of my life. In July 2024, I ventured into Forex trading, and I’ve found a particular affinity for Gold. I focus exclusively on Gold because its dynamic movements give me the thrill and challenge I crave, whether the trade results in profit or loss.

How long have you been trading?

I have been trading for 2 years, and I am a scalper.

Briefly describe your Trading Plan and how it contributes to your success.

My trading plan is centered around a disciplined scalping strategy, specifically focused on Gold. I prioritize quick, short-term trades, capitalizing on high volatility and price movements within tight timeframes. My plan involves precise entry and exit points supported by technical analysis, key price levels, and momentum indicators. I rely heavily on predefined risk management strategies, including setting tight stop-losses and maintaining a favorable risk-to-reward ratio.

Consistency and discipline are the pillars of my plan. By avoiding emotional decisions and adhering strictly to my trading rules, I minimize risk while maximizing opportunities.

Please share with us a challenge you faced in your trading career and how you overcame it.

One of the biggest challenges I faced in my trading career was dealing with consecutive failed challenges and losses when I first started trading with prop firms. It was mentally taxing, especially when I knew I had the technical knowledge but struggled with emotional discipline. The pressure to recover losses often led to impulsive trades, which only deepened my frustrations.

I overcame this by shifting my mindset and refining my approach. I began analyzing both the technical and emotional aspects. I focused on improving my discipline, implementing stricter risk management, and learning to embrace patience, particularly when waiting for high-probability setups.

How did you adjust risk management to your trading personality?

As a scalper, my trading personality is fast-paced, and I focus on the 1-minute timeframe to capitalize on quick price movements, especially in Gold. Instead of following a traditional fixed risk management system, I’ve tailored my approach to fit the rapid nature of scalping. I use smaller position sizes relative to my account balance, which allows me to manage risk while entering and exiting trades swiftly.

In place of fixed stop-losses, I monitor price action closely in real time and adjust my trades manually, reacting instantly to shifts in momentum. This dynamic approach fits my trading personality, where quick decision-making and flexibility are key to thriving in such short timeframes.

Describe a key moment in your trading career

A key moment in my trading career was when I passed my first 20K High Stakes Challenge with The5ers. However, the excitement was short-lived, as I ended up failing the funded account the very next day. While this could have been discouraging, it turned out to be a pivotal learning experience for me. It forced me to reflect on my strategy, risk management, and mindset and ultimately helped me evolve as a trader (scalper).

This moment highlighted the importance of discipline and patience, even after achieving success. It taught me to focus not just on passing challenges but on maintaining consistency and composure, which has since contributed to my growth and ability to turn subsequent accounts profitable.

How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent?

I still don’t consider myself a consistent trader; I view myself as a student of the market, learning every day. While I’ve made significant progress over the past 18 months, I recognize that consistency is a journey, not a destination. I’ve been actively refining my scalping strategy focused on Gold.

Once I reach a level of consistency that I feel proud of, I will confidently share that achievement. For now, my focus remains on continuous learning and adapting to the ever-changing market conditions.

What is your mental/psychological strength, and how did you develop it?

I adopted a mindset of being a lifelong learner, which keeps me humble and open to new strategies. This approach has helped me handle setbacks more effectively and maintain a positive outlook on my trading journey.

What was your strategy to successfully pass The5ers’ evaluation?

Only Scalping

How is trading for The5ers different from trading by yourself?

If I trade by myself, I know I would likely trade emotionally, skip stop-losses, and neglect proper risk management. However, trading with The5ers holds me accountable because I’m managing someone else’s money. This sense of responsibility forces me to stick to my trading plan, manage my risks, and trade more strategically. The structured environment of The5ers keeps me disciplined and focused, which is crucial for my growth as a trader.

What would you recommend to someone who is just starting with us?

Go with the flow, and don’t let failures in challenges discourage you. It’s all part of the trading journey. Losing initially is common, and it often leads to greater gains in the future. Think of these setbacks as tuition fees to the market, and keep pushing forward. Stay committed and continue to learn from each experience.

Please share online resources that were/are significant in your trading development.

Indian Traders:-
Traders Paradise (Abhay), Trading Legend (Tapas), The Trade Room (Mayank)

Would you like to share anything else with us?

Never Give Up!

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