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.
Behrouz Fatollahzadeh, a 31 years old Professional Trader
Can You Tell Me About the Initial Day of Your Trading Journey and When It Began? Please Provide Some Details.
I started trading in March 2020, right before the pandemic hit. The initial days were quite challenging as the markets were extremely volatile, and I had to quickly learn how to manage my risk and emotions. However, I persevered, and over time, I became more confident in my trading abilities, which has allowed me to become consistently profitable.
Could You Discuss Your Trading Strategies? Have You Switched Between Strategies or Have You Stuck to One and Improved It Over Time?
My trading style is adaptable based on market movements, but I mostly stick to intraday trading. Depending on the market conditions, I change my strategy to suit the circumstances. However, I always use technical analysis techniques such as identifying supply and demand levels and overbought and oversold zones.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
Risk-Management keeps you in the game. Avoiding exposure to huge sizes and trading quantified lots with Stop Losses and Maximum Take Profits makes an anticipative trader. Avoiding greed, and not being aggressive with the market helps a trader control his psychology. The market is always there, so minimum risk supports maximum gains.
What Advice Do You Have for Traders Attempting to Pass the Assessment Phase?
To pass the assessment phase, traders should establish a clear objective and stick to a well-thought-out plan that incorporates good capital management practices. Traders should avoid taking large limits and focus on trading instruments that fit their trading timezone. Additionally, it’s important to avoid violating trading rules and to maintain concentration and hope for success.
Do You Think FundedNext Can Enhance Traders’ Skills and Provide the Best Profit Opportunities?
I have a positive opinion of FundedNext. Their funding challenge motivated me to improve my trading skills, and their platform reduces the psychological pressure on traders by providing a clear progress path. Overall, I believe FundedNext can enhance traders’ skills and provide profitable opportunities.
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Saad Khalil, 24 years old Scalper from Pakistan
What Type of Trader Are You and What Instruments Do You Prefer to Trade?
I consider myself an intraday trader, where I take advantage of short-term fluctuations in the market. I use a combination of price action and indicators such as the 50-EMA to make my trades. My preferred instruments are EUR/USD, GBP/USD, CAD/USD, CHF/USD, AUD/USD, XAU/USD, US500, and US100.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
I risk less than 1% per position, so if my trade goes wrong, I’m not losing much, but if the trade goes as planned, I will scale up and cover my position, cutting partials because I know the market doesn’t owe me anything.
In What Ways Does FundedNext Complement Your Trading System?
Great! FundedNext provides motivational spheres and the MT4 remains the best tool of course. I always read updates in the social media run by the team and it’s always good for any trading day
What Challenges Did You Encounter During Your Assessment Phase, if Any?
First day i got loss about 300$, my first week was in loss almost 800$, i remained patient, silenced, because i knew that my strategy is working but i entered on wrong time, then i decided to trade at London or New York sessions. Not before, not after. I believe the 5% daily drawdown rule is tough and I had to keep tweaking exits and entries because of it.
What is the Secret to Long-term Success in Trading?
To be successful in trading, it is important to have a well-defined strategy and the discipline to stick to that strategy. This involves conducting thorough research and analysis to develop a plan that is tailored to your own risk tolerance and trading goals. As you trade, it is important to remain flexible and adapt to changing market conditions, while also staying true to your plan as much as possible. Alongside this, it is crucial to develop a psychological plan that helps you maintain discipline and avoid making emotional decisions. This can involve setting clear rules for yourself, such as when to enter and exit trades, and having a plan in place for managing risk and handling losses. By building your own strategy and developing strong psychological discipline, you can increase your chances of long-term success in trading.
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Angel Adriel Garcia Pagan, A Fundamental Trader
Could You Discuss Your Trading Strategies? Have You Switched Between Strategies or Have You Stuck to One and Improved It Over Time?
I went through countless trading strategies before finally finding one that I was comfortable with. I have been using this strategy for over a year now and have gotten so good at it that I decided to start trading for a prop firm. My strategy involves entering at an inflection point in a trend, which has proven to be successful for me.
Can You Describe Your Most Successful Trades to Date? Please Share a Detailed Scenario of a Trade.
My most successful trade was predicting the fall of Bitcoin from the Overbought Zone to the Oversold Zone, resulting in a significant profit. I was able to back up this prediction with evidence, which made the trade even more satisfying. While earnings and reports such as NFP, FOMC, and CPI are good trades to take, I prefer breakouts and reversals, although with caution due to their high volatility.
Do You Believe Psychology Plays a Significant Role in Trading? How Do You Handle Your Emotions During Losses or Wins?
Yes, psychology is a big motivator for traders. Trading requires a lot of discipline and emotional control. It’s important to have a trading plan in place and to stick to it, regardless of the emotional ups and downs that come with trading. Managing emotions during losses or wins can be challenging, but having a solid plan and risk management strategy in place can help mitigate those emotional swings.
What Advice Do You Have for Traders Attempting to Pass the Assessment Phase?
Take your time and read the conditions carefully so you don’t accidentally violate them. Remember, there’s no deadline to pass the assessment phase, so don’t rush things. Instead, take the time to develop a solid trading strategy that you feel confident in.
In What Ways Does FundedNext Complement Your Trading System?
FundedNext is Great, I’m trading easily in challenge phases. But I’m worried about Real Account because in Real Trading news is not Allowed and if any trade gets closed during news , your account would be terminated. This is the only single fear I have.
