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 on our u003cstrongu003eTraders’ Taleu003c/strongu003e this week. Give it a read.
Eric D.Rivera Olivieri, a Self-taught Puerto Rican Trader
Can you share with us your experience of starting to trade? When did you begin and what was it like for you initially?
In 2014, I first came across trading and decided to explore it. However, at the time, educational resources on trading were relatively limited, and I had to rely on my own initiative to learn. To gain knowledge and improve my skills, I searched for every relevant book I could find on e-commerce platforms such as Amazon and eBay and studied them thoroughly.
Could you walk us through one of your most successful trades to date?
I am a very risk-averse trader and always strive to minimize risk. Recently, I had a series of back-to-back trades where I identified liquidation zones on the US30 index and played the bounces and breakouts perfectly. These trades resulted in a profit of around $2000, with an average risk-reward ratio of 1:2.
Have you been using a single trading strategy, or have you experimented with multiple? If so, what made you switch strategies?
My preferred trading style is day trading, and I depend on a technical analysis system that I have developed over time. To build this system, I drew inspiration from the work of renowned mathematicians, analysts, and economists whose contributions have significantly impacted the financial markets as we know them today.
To make informed trading decisions, I rely on a strategy that employs various technical analysis tools, such as Order Blocks, Supply and Demand, Overbought and Oversold Zones, based on the Murray formula, among others. Consistently sticking to this strategy helps me remain objective and mitigate risks, while also capitalizing on opportunities presented by the market.
What is the Secret Sauce for Long-term Success in Trading?
In my opinion, earning money in Forex is a straightforward process, but the real challenge is maintaining consistency and doing it every day. To achieve this, discipline and adherence to your trading system are crucial.
Instead of focusing on monetary goals, setting pip-based goals can help you attain consistency in a shorter period. It is essential to avoid getting distracted by other traders or so-called “internet gurus” and concentrate solely on your trading plan.
Remember, your family relies on you, and it is vital to prioritize your financial stability and growth. By remaining focused on your trading strategy and consistently executing your trades, you can increase your chances of success and generate steady profits in the long run.
How do you perceive FundedNext, and how well does it complement your trading system?
They bless me with the versatility of trading indices and also are very fluent in their discord and customer service as I have spoken to them like they are my own peers. And as my strategy is risking minimum, thus, passing the phases was quite easy.
Andrus Sabiin, 36 years old Estonian Swing Trader
What Kind of Trader Are You and What Are Your Preferred Instruments?
I am a swing trader, taking trades that can last from days to weeks, depending on the market’s movement. My focus is on technical analysis, using chart patterns and indicators to identify opportunities in the market. I trade on major forex pairs, including EUR/USD and GBP/USD, as well as XAU/USD (Gold Pair).
What was the toughest aspect of the challenge phase for you?
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 has been your most profitable trade with FundedNext so far?
One of my best trades so far was with the EURUSD currency pair. I had identified a previous supply zone and sold at that point. The market moved in my favor and I was able to make 500 pips with a 0.1 lot trade, resulting in a profit of $500.
Do you frequently shift between different trading strategies or prefer sticking with one?
My trading strategy is centered around the smart money concept, which is the idea that professional traders and institutional investors have access to more information and resources than retail traders, and therefore tend to make more informed trades. I use a combination of technical and fundamental analysis, including market structure, schedules, news, to identify key levels of support and resistance. I also pay close attention to the actions of these smart money players to gain insight into their trades and position myself accordingly.
In your opinion, can FundedNext help traders improve their abilities and increase profits?
I am motivated to be extra careful with every trade I make because the company’s next funding goal has been fully funded. It’s a great feeling knowing that the company is doing well and it encourages me to do my best. I’m also grateful that the company provides a lot of valuable information for free. It’s really helpful to have access to those resources as I work to improve my trading skills.
27-year old Trader, Josaphat Ojdetola
Can you detail your most successful trade, including the circumstances and strategy employed?
Scalping on the GBPUSD pair has been one of my best trades. As a technical analyst, I always use stop-loss and take-profit orders in every trade. But on one occasion, I didn’t set a take profit, and due to fundamental news, I was able to make a 200 pip profit in just one hour.
How has FundedNext impacted your trading career and overall life?
The FundedNext risk management system suits me as a non-aggressive trader. Its spread is excellent compared to other prop firms, and till now no slippages have happened to me.
Could you share your risk management approach and offer some specifics?
I use a combination of technical and fundamental analysis to determine my risk management strategy. I take into account a number of indicators, such as volatility, ATR (Average True Range), and support and resistance levels, as well as fundamentals like news and earnings reports, to assess the risk-reward ratio of each trade. I set my stop loss at a percentage of my account balance and position size based on the volatility and risk level of the trade.
What advice would you provide to traders currently in the evaluation stage?
10% is achievable. Take it slow and steady. Hit the home run only when opportunity comes in. To be focused, they should watch out for support and resistance areas, take note of news and events that are very important .Always use stop loss and reduce lot size.
What is the Secret Sauce for Long-term Success in Trading?
The secret to long term success is to :
1.) Stick to one’s plan (including risk management) to be able to deal with the psychology.
2.) Don’t over trade
3.) Learn to take some profits, and don’t be greedy.