Tale no. 7: A Quiet Mind is Able to Hear Intuition Over Fear”

Every day, our traders are succeeding and reaching closer to their goal of finding the ultimate financial freedom. FundedNext is pleased to become a crucial part of thousands of traders’ success stories. We hear inspiring stories of traders’ trading journeys, which have been a great motivation for us to move forward. Among the many, we have collected a few again on our Traders Tale this week. Give it a read.

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Giuliano Alessandro Decorato, 45 year-old Emiratis Trader

Describe Your Best Trades So Far. Share a Thorough Scenario of a Trade.

The best trade I have made so far was in the Phase 1 Evaluation account.
The trade was taken on US30 in the New York session. I was analysing the price action Pre- New York, and the price broke a structural low and was trending downward, but my bias was still bullish. I just waited for some wick rejections to the downside since US30 can reverse pretty heavily in a short amount of time. I entered the trade when the price reached a lower high, but I kept risk management in mind. The trade was a winner, and the profit I made was $1300.

What Are Your Trading Strategies? Did You Switch From Strategy to Strategy, or Did You Stick to One and Eventually Level It Up?

I trade swing trading and use volatility, Bollinger Bands, and RSI. Usually, when the market is reaching a point of distress, I enter a trade and take advantage of reversals.

What Does Your Risk-management Look Like? Give Some Details.

I usually do not risk more than 1% per single trade, and I close all if I lose more than 3%. If the market restarts the next day, that is fine otherwise I take advantage of other opportunities. The market is always open, and you can get into new trades. Accepting losses and being fine with them is the best attitude and discipline for a Trader.

Are You Able to Gain Profits With FundedNext?

FundedNext is ideal for my trading system. I’m not an aggressive trader. I prefer small, consistent gains to large sums of money. Moreover, FundedNext is good for spreads and fast execution, as I trade the 1–5 m timeframes. Once I got my first payout, I had nothing at risk except losing the account. This can help anyone trade more freely or in a relaxed manner. Also, the 15% profit share motivated me to join, and it is worth it.

What Difficulties Have You Faced During Your Assessment Phase/Phases With FundedNext?

There has been a little bit of a slippage issue. Moreover, the pressure to pass my challenge without breaching any rules I was very conscious of my drawdown. The main reason Japan would attack was their fear of intervention.The main factors were how you could manage it and avoid it. Tight stop losses, price action, and scalping trades were my main targets.

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Putri Nur Alisha, 25 year-old Self-taught Trader from Malaysia

Do You Think Psychology is a Big Motivator for Traders? How Do You Manage Your Emotions During Losses or Wins?

Psychology accounts for two-thirds of a trader’s successful trading history.
When I have a bad day, I usually take a break and stop trading for 1-2 days. This will release all stress and negative energy. I usually accept losses and try to be outside the market and enjoy long walks, going to the gym, running, or simply watching football with my friends.

Describe Your Best Trades So Far. Share a Thorough Scenario of a Trade.

I start by identifying supply and demand zones on the H4 time frame. After that, I check the price to see if it is advancing or retreating, and then I go on to the 5-minute time frame to search for new zones that have a high possibility of reacting in favor of the current tencent.

What Does Your Risk-management Look Like? Give Some Details.

Risk management is critical for anyone who wants to be successful in forex trading, and I put a lot of emphasis on it. I risk percentages that are mostly in the range of 1%-2% of my account, but for the prop firms, I risk between 0.25% and 0.5% of my account. Although I didn’t initially start that way, after learning from experience in my past trades, risking that amount is what suits me.

How Do You Like FundedNext? Is It Suited to Your Trading System?

Indeed, I do. Prior to Funded Next, I had no concept of proper risk management. Although I had excellent market analysis skills, I lacked risk management, which Funded Next forced me to use when trading. I thought I’d be able to pass easily and over-leveraged at my first attempt. My account was instantly shut down on the first two trades I took (a twin trade) due to drawdown. My trade played out and hit my TPs, but at that point, my daily drawdown had already hit. I didn’t understand why I was kicked out until I went back and read the rules, which I didn’t do at first. I definitely thought that since I knew how to trade, I could come in and get the money easily without realizing I had to follow a set of rules. I thought I just had to hit the target, which I thought I could accomplish in two trades. So, I would say yes—lesson learned.

Best Advice for Traders Who Are Trying to Pass the Assessment Phase?

Never fight with the market; always respect the move. Stay calm and get into the mindset of being an asset manager, fund manager, or financial analyst. It’ll help you remain consistent and stay away from “what if” trades and overtrading.

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Muhammad Shariq Ashfaq, 28 year-old, Pakistani Day-Trader

What is the Secret Sauce for Long-term Success in Trading?

Being humble: the secret sauce to trading is to keep learning, never give up, stick to your plan, and be disciplined. If you can do those things, you can make it.

Describe Your Best Trades So Far. Share a Thorough Scenario of a Trade.

My best trade was buying USD against CHF; it was highly oversold, and the price action was clearly indicating a strong reversal during the start of the London session. One single trade made me achieve 10%, and I completed Challenge 1.

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What Are Your Trading Strategies? Did You Switch From Strategy to Strategy, or Did You Stick to One and Eventually Level It Up?

I use price action. I have always used this strategy because it is how I was taught, and it has worked out for me. I tried other strategies and was not very successful, so I reverted back to price action. Other people have asked me to try other strategies, but I think as a trader, you have to come up with your own plan and only do what works for you. What works for me may not work for you, and vice versa.

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When Did You Start Trading, and How Long Were the Initial Trading Days? Give Some Details.

June 2021 was the month I entered the world of forex. It was hard at first since many strategies fail when it comes to forex. Moreover, this market is very fast and very volatile.

Do You Think Psychology is a Big Motivator for Traders? How Do You Manage Your Emotions During Losses or Wins?

Psychology is definitely a big issue with trading. I think it’s actually more critical than strategy. I manage my emotions better when my risk isn’t great. I know whatever happens, I am not going to lose a whole lot. When I hit a big gain, I just take a break and celebrate. Then I condition myself again before I go back into the market.

11 Responses

  1. Informative article, totally what I was looking for. What’s up everyone, it’s my first go to see at this website, and piece of writing is genuinely fruitful for me, keep up posting these types of articles or reviews.

  2. Thank you for sharing such informative content. It’s always great to learn from the experiences of others in the trading community.

  3. After reading this Traders Tale article, I feel inspired and motivated to continue pursuing my goals as a forex trader. The detailed scenarios of successful trades and risk management strategies shared by the traders are helpful and informative. I appreciate that FundedNext is highlighting the successes of its traders and providing a platform for traders to share their experiences.

    1. Thank you for your kind words! We’re glad to hear that our Traders Tale article has motivated and inspired you to pursue your trading goals. Stay tuned for more informative and helpful articles from FundedNext!

  4. As a novice trader, I found this Traders Tale article to be a valuable source of information and inspiration. The traders’ advice on risk management and psychology resonated with me, and I feel more confident in my ability to navigate the forex market. I appreciate that FundedNext is sharing the stories of its successful traders, and it motivates me to continue learning and improving my skills.

    1. Thank you for your positive feedback! We’re glad to hear that the Traders Tale article was helpful to you and provided valuable information and inspiration. It’s our goal to share the experiences and insights of our successful traders to help others improve their skills and succeed in the forex market.

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