– Theodore Roosevelt
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.
Alireza Abbasnezhad, a 38 years old Iranian Trader
What Type of Trader Are You and What Instruments Do You Prefer to Trade?
I’m a full-time trader, and my go-to instrument is XAUUSD. Why? Well, it’s pretty volatile, which means there’s a chance to make some sweet daily profits. As an intraday trader, I consider myself a skilled scalper. I focus on keeping daily records and minimizing risks along the way.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
Risk management is key, my friend! As an intraday trader, I make sure to keep my risk limited to around 0.20-0.30% per trade. Gotta keep my account safe and sound, you know? My goal is to gain about 2-3% per week. But hey, I don’t just talk the talk – I walk the walk. I prioritize risk management by setting daily goals in pips. If I hit my daily loss limit of 5 pips, I call it a day. It’s all about respecting my trading plan and constantly improving my decision-making process.
What Challenges Did You Encounter During Your Assessment Phase, if Any?
Ah, the assessment phase… Let me tell you, I had my fair share of challenges. One of the trickiest parts was getting a handle on risk management and figuring out my profit targets. It definitely messed with my mindset at first. But you know what? I didn’t let that stop me. Through practice and experience, I managed to overcome those hurdles.
In What Ways Does FundedNext Complement Your Trading System?
FundedNext is all about empowering people to reach their trading goals and make their dreams come true. That’s something I find truly motivating. It’s a platform that complements my trading system by offering great opportunities and support. Gotta appreciate that!
What is the Secret to Long-term Success in Trading?
Here’s the deal, my friend: You can’t rely on someone else to give you all the answers. To achieve long-term success in trading, you gotta develop your own understanding of the market. It’s all about learning from others, but also putting in the work to build your own knowledge and skills. That’s the real secret sauce!
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Dostonbek Abdulboriev, 25 years old Malaysian Scalper
Can You Tell Me About the Initial Day of Your Trading Journey and When It Began?
Let’s talk about the early days of my trading journey. It all started around two years ago, and boy, was it rough! I made some pretty terrible mistakes because I didn’t have a solid strategy or the right mindset. Even following signals from pro traders turned out to be a surefire way to lose more money. But you know what? I learned from those experiences and gradually developed my own strategy and psychology. Sometimes, you gotta go through the losses to learn the lessons, right?
How Do You Manage Risk in Your Trading?
Risk management is my bread and butter as a trader. Here’s how I do it: I always aim for a risk-to-reward ratio of 1:5 in my trades. This helps me maintain an accuracy rate above 20%. To keep things in check, I set my maximum risk per trade at 2%. On average, I typically risk between 0.5% and 1.3% per trade. And you know what? I hold myself accountable by risking 2% of my account on each setup. My daily target is 6%, but if I happen to lose 4% on a bad day, I call it quits for the day and start fresh tomorrow. Oh, and I also take trades in parts, pay attention to resistance and support levels, and keep an eye on my maximum daily loss using a specific formula for each trade.
Do You Believe Psychology Plays a Significant Role in Trading? How Do You Handle Your Emotions During Losses or Wins?
Absolutely! Psychology is a game-changer in trading. Emotions can have a huge impact on decision-making. Fear, greed, and overconfidence can lead to impulsive and irrational trading, which can result in losses. So, here’s how I handle it: I’ve learned to take breaks when I feel overwhelmed or too emotional. Setting clear rules and sticking to them helps me stay on track. And of course, focusing on risk management is crucial. By mastering my psychology, I can keep a consistent approach to trading and increase my chances of success.
What is the Secret to Long-term Success in Trading?
The secret to long-term success in trading! It’s all about having patience, my friend. You’ve got to be patient and stick to your well-defined strategy consistently and with discipline. Set clear rules for yourself, use stop-loss orders to manage risks, and avoid making impulsive decisions based on short-term market fluctuations. By managing your emotions and executing your methods precisely, you’ll increase your chances of long-term success. It’s all about keeping that cool head and staying true to your plan.
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Shayan Jafari, 21 years old Price Action Trader
Can You Tell Me About the Initial Day of Your Trading Journey and When It Began? Please Provide Some Details.
The beginning of my trading journey coincided with the pandemic, which posed some challenges. But you know what? I didn’t let that discourage me. Instead, I used that time to educate myself and dive deep into learning about different aspects of trading. I focused on things like strategy, risk management, and psychology. It was all about staying persistent and committed to my learning journey. And you know what’s great? It paid off! I’ve been able to improve my skills and see more positive results in my trades. But hey, it doesn’t stop there. I’m always on the lookout for new ways to enhance my understanding of the market and stay ahead of the game.
How Do You Manage Risk in Your Trading? Please Provide Some Specifics.
When it comes to risk management, I like to keep things simple yet effective. Here’s my approach: I always aim for a 1:5 ratio in my trades, which helps me maintain an accuracy rate of over 20%. To ensure I don’t put too much on the line, I never risk more than 2% per trade. On average, my risk falls between 0.5% and 1.3%. Now, here’s the interesting part. I set a daily target of 6%, and if I happen to lose 4% on a bad day, I know it’s time to call it quits for the day. It’s all about protecting my account and keeping things in check. Oh, and I like to take trades in parts and pay close attention to resistance and spot levels. And of course, the maximum daily loss is calculated based on the formula for each trade. Gotta stay on top of those risks!
What Challenges Did You Encounter During Your Assessment Phase, if Any?
Oh boy, let me tell you about the challenges I faced during my assessment phase. My first attempt didn’t go as planned, and it was quite disheartening. I actually took a break from trading for about two weeks to reassess the situation. During that time, I identified the problems I was facing and worked on fixing them. It was definitely a tough challenge, but you know what they say – challenges make us stronger. The market can be unpredictable, but I keep pushing forward.
Do You Think FundedNext Can Enhance Traders’ Skills and Provide the Best Profit Opportunities?
Absolutely! I have full confidence that FundedNext can truly enhance traders’ skills through their online lectures and classes. Taking advantage of these resources can make a significant difference and lead to increased profits. FundedNext provides an excellent opportunity for traders to level up their skills and make more money. It’s a platform that’s all about growth and seizing the best profit opportunities.
