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.
Ronald Joaquico, a 32 years old Dentist and a Passionate Trader
Can You Tell Me About the Initial Day of Your Trading Journey and When It Began? Please Provide Some Details.
My trading journey commenced in 2021, sparked by a strong curiosity to uncover the art of earning through forex trading. As I immersed myself in the fundamentals, my enthusiasm surged, propelling me towards live trading. But, oh boy, the market swiftly reminded me of its unforgiving nature and the difficulties of making profits in forex trading. Yet, I refused to let it dampen my spirits.
Instead, I actively sought mentorship programs and explored a plethora of strategies. Throughout this arduous process, I gleaned two indispensable principles: proficient risk management and an unwavering mindset. These invaluable insights revolutionized my approach and opened doors to a more fulfilling trading experience.
Can You Describe Your Most Successful Trades to Date? Please Share a Detailed Scenario of a Trade.
The best trade scenario happens when all my trading indicators line up just right. Picture this: the monthly, weekly, and daily timeframes are all pointing downward, showing a clear trend. And here’s the clever part – I spot certain price levels where the market is likely to make a comeback after a little dip. Then, I sit back and patiently wait for a clear pattern to appear. Once I see that pattern, it’s my sign to jump into the trade. This smart trade setup is the heart and soul of my trading strategy. It’s all about analyzing the market carefully and timing things just right to make the most profit possible.
What Are Your Trading Strategies? Did You Switch From Strategy to Strategy, or Did You Stick to One and Eventually Level It Up?
In the early months of my trading journey, I found myself constantly switching between different strategies, feeling exhausted and on the brink of giving up. I struggled to find consistency in my trades. However, I eventually learned that what truly matters in trading is effectively managing risks and maintaining the right mindset. This simple yet powerful understanding completely transformed my approach and paved the way for a more successful and fulfilling trading experience.
I am a systematic trader. I trade support and resistance and add my experience to see if the level will reject the price or not.
What Does Your Risk-management Look Like? Give Some Details.
I’ve got a straightforward risk management strategy that works like a charm. If I face a loss during the day, I simply stop trading. I don’t stick around for more losses. Instead, I cut my losses quickly and let my winning trades run their course. My goal is to have a risk-to-reward ratio of 1:3, which means I’m willing to risk a small amount to potentially make two to three times that amount. I’ve tested this strategy in the past and know my win rate, so even if I hit a rough patch, I can bounce back swiftly because of my favorable risk-reward ratio. It’s a strategy that keeps things simple and effective.
Do You Think Psychology is a Big Motivator for Traders? How Do You Manage Your Emotions During Losses or Wins?
The role of psychology in trading cannot be overstated. It is widely recognized that novice traders often experience disappointment following mistakes or losses. However, having personally encountered numerous wins and losses, I have integrated these experiences into my journey as a trader. While I continue to learn and grow, my utmost advice is to embrace and accept the inherent unpredictability of trade outcomes. By acknowledging the element of randomness that accompanies each trade, we can foster a resilient mindset essential for navigating the ever-changing landscape of the market.
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Arooba Arif, 28 years old Day-trader
Could You Discuss Your Trading Strategies? Have You Switched Between Strategies or Have You Stuck to One and Improved It Over Time?
My trading strategy focuses on the moving average indicator crossing. I use this as a guide to help me determine the right time to enter and exit trades. By doing so, I can minimize my risks and maximize my profits.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
Proper risk management is a crucial aspect of my trading strategy. To that end, I limit my risk to no more than 2% per trade, and my average risk falls within the range of 0.5% to 1.3%. I also take trades with a 1:5 ratio, which helps me maintain an accuracy rate of over 20%. To ensure that I am always on track, I set a daily target of 6% and stop trading for the day if I lose 4% on a bad day. When entering trades, I take them in parts and keep an eye on resistance and spot. Additionally, I pay attention to the maximum daily loss, which is dependent on the formula of that trade.
Do You Believe Psychology Plays a Significant Role in Trading? How Do You Handle Your Emotions During Losses or Wins?
At the begging of my trading journey I got pretty upset or angry but I learn to manage and control the feeling because I’ve learn that psychology its the most important part of trading, just have to re-thing your trade, analyze it and learn from the mistake. And there is no need to be greedy as well, there is market every other day every other year, and not all of it it´s tradeable.
What is the Secret Sauce for Long-term Success in Trading?
Remember that trading is a marathon, not a sprint. It’s important to have a long-term perspective and focus on building a solid foundation for your trading career. Don’t rely solely on others to give you all the answers. Take the time to develop your own understanding of the market and keep learning as you go along.
In What Ways Does FundedNext Complement Your Trading System?
Using FundedNext has allowed me to start trading and making a profit without requiring a large initial capital investment. This was a great opportunity for me, and I appreciate the chance to get started with a smaller budget.
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Jorgen Lim Wang long, 27 years old Singaporean Trader
What Type of Trader Are You and What Instruments Do You Prefer to Trade?
As a scalper trader, I heavily rely on indicators such as moving averages, RSI, and MACD, to make quick and precise trades. My preferred instrument is Gold, as it tends to have high liquidity in the market and offer good scalping opportunities.
Can You Describe Your Most Successful Trades to Date? Please Share a Detailed Scenario of a Trade.
My best trade on a funded account was on Gold in December 2022. Although it nearly breached the maximum drawdown, I was able to recover my initial balance and make a profit. This trade was particularly exciting and rewarding for me, as it tested my risk management skills and ultimately resulted in a successful outcome.
What Challenges Did You Encounter During Your Assessment Phase, if Any?
During this phase 1, I got less support from the account manager which raised some concerns in me. For the other one, I traded the news and lost money, and with the slippage the risk became much bigger, so I decided to avoid doing it again as much as I can!
What Advice Do You Have for Traders Attempting to Pass the Assessment Phase?
I think it is not important how many years you are in this industry. You should practice a lot. I do really mean it. I’m a full-time trader. I would like to mention that this is my first time I walked into the forex industry. I always trade cryptocurrency, but as I started to join your company, forex is my favorite market place now. I would like to say to them Never give up, no pain, no gain.
Do You Think FundedNext Can Enhance Traders’ Skills and Provide the Best Profit Opportunities?
After speaking with the FundedNext team, I am confident that their platform can improve traders’ skills. Their plan to implement new features will further enhance their system. FundedNext offers a great opportunity for experienced traders to grow their skills and earn more money.
