– Sir John Templeton
Every day, our traders are succeeding and reaching closer to their goal of finding 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 this week. Give it a read.
Mohamed Ridzuan, a 35 years old trader from Malaysia
What Type of Trader Are You, and What Instruments Do You Prefer to Trade?
I am a day and swing trader, primarily focused on the forex market. I use a range of technical indicators such as moving averages, RSI, and Fibonacci retracements to help me identify potential trades. I also pay close attention to market sentiment and economic news, especially for major currency pairs such as EURUSD, GBPUSD, and USDJPY. My trading style is adaptable, and I adjust my strategies based on the current market conditions.
Can You Describe Your Most Successful Trades to Date? Please Share a Detailed Scenario of a Trade.
One of my best trades was in the GBPUSD market back in 2019. After some training in forex trading, I made my second deposit in an attempt to apply my knowledge. I executed a trade that resulted in a profit of 5 times the risk I took, also known as a 5 Risk to Reward ratio.
To put it in perspective, I had a $300 account and made $150 from a single trade. The risk I took was $30, which means that my potential profit was significantly greater than my potential loss. This trade gave me the confidence to continue learning and improving my trading skills until I achieved mastery.
What Challenges Did You Encounter During Your Assessment Phase, If Any?
The only challenge I encountered during the assessment phase was that the 8eightcap platform was new to me. I had to take some time to understand it, and as a result, I lost some money and my account was paused. However, I learned from my mistakes and was able to continue with a better understanding of the platform.
What Advice Do You Have for Traders Attempting to Pass the Assessment Phase?
10% is achievable. Take it slow and steady. Hit the home run only when the opportunity comes along. To be focused, they should watch out for support and resistance areas, and take note of news and events that are very important. Always use stop loss and reduce lot size.
In What Ways Does FundedNext Complement Your Trading System?
I chose to use FundedNext primarily for forex trading due to their low commissions and zero spreads for major currency pairs. This has made it a cost-effective option for me, and I appreciate the savings it provides.
…………………………………………………………………………..
Bruno Souza, 34 years old Trader
Can You Tell Me About the Initial Day of Your Trading Journey and When It Began? Please Provide Some Details.
Five years ago, initially, it was not easy at all. I had issues with discipline and trading with proper risk management, but now I have overcome those.
I started trading seven years ago, and the first few years were very difficult for me, but I never gave up. Until now, I have felt very disciplined and sure of myself.
Could You Discuss Your Trading Strategies? Have You Switched Between Strategies or Have You Stuck to One and Improved It Over Time?
Initially, I experimented with various classic and pattern-based trading strategies. However, over time, I have gravitated towards utilizing SmartMoney concepts for my trades. I have found success with this strategy and have stuck with it to improve my skills. It’s important to have a mentor in trading, and I found mine in ICT, which has helped me remain committed to my chosen strategy.
Can You Describe Your Most Successful Trades to Date? Please Share a Detailed Scenario of a Trade.
While I don’t have one specific trade that stands out as my most successful, I approach each trade with the same strategy and mindset. I prioritize taking a small but consistent profit over getting greedy and potentially losing it all. However, during phase one of my trading journey, I had a couple of successful trades on USDJPY. One trade that made me $700 took 13 hours and coincided with the opening of the Tokyo market. Another trade that made me $1000 was based on my analysis of the market direction and taking the first step in that direction.
What Advice Do You Have for Traders Attempting to Pass the Assessment Phase?
For traders aiming to pass the assessment phase, I suggest implementing a thorough risk management strategy to avoid excessive risk-taking in the first two days. It is crucial to trade with caution and discipline, focusing on a proven trading strategy and gradually scaling up as experience is gained. Traders should prioritize knowledge acquisition, be disciplined in their trading practices, and adhere to a well-defined trading plan.
What is the Secret to Long-term Success in Trading?
An important aspect of successful trading is patience. It takes time to develop the skills and strategies needed for long-term success. Don’t rush into trades, and avoid making impulsive decisions based on emotions. Learn from your mistakes and use them to improve your trading skills.
…………………………………………………………………………..
Kaytan Nizet Ewulu, 25 years old Self-disciplined trader
Could You Discuss Your Trading Strategies? Have You Switched Between Strategies or Have You Stuck to One and Improved It Over Time?
I prefer to focus on a single trading strategy to level it up over time. My current approach is based on supply and demand principles and technical analysis, such as identifying order blocks, oversold and overbought zones, and using the Murray formula. This has proven to be an effective way to achieve my goal of gaining at least 100 points per trade.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
I take a disciplined approach to risk management in my trading. I pay close attention to the market and enter trades at the most reliable and optimal points, choosing my volume based on my daily loss tolerance. I never risk more than 1% per trade and aim for an average risk of between 0.5% and 1.3%. I also have a maximum daily loss percentage in mind, depending on the specific trade formula I’m using.
Do You Believe Psychology Plays a Significant Role in Trading? How Do You Handle Your Emotions During Losses or Wins?
Trading is primarily psychological, and emotions can greatly impact performance. It’s important to have a trading plan that takes into account both the technical aspects of trading and the psychological factors that can influence decision-making. When experiencing losses, it’s important to take a step back and review trading history, while during wins, it’s important to stay humble and not become overly confident. Overall, managing emotions and developing a solid trading plan can greatly enhance performance in trading.
In What Ways Does FundedNext Complement Your Trading System?
FundedNext is a platform that empowers people to achieve their trading goals and fulfill their dreams. This makes it a motivating platform to use, and I appreciate the opportunities it provides.
Do You Think FundedNext Can Enhance Traders’ Skills and Provide the Best Profit Opportunities?
I believe FundedNext provides the best opportunity for traders who have enough experience to grow and earn more money. With the possibility of scaling up to 4 million dollars, FundedNext’s challenge provides a great incentive to manage risk and stay within the required parameters.
