Successful Traders
November 25, 2021 | 4:07 pm | Successful Traders
November 25, 2021 | 4:07 pm
Successful Traders
Interviews With Traders Success Story
Wait, then wait, then wait a lot more until the perfect opportunity is upon you. That’s Tyler Advice.
Tyler C, From the U.S.A
Tyler has just successfully passed our Level 1. He is now one of The5ers funded traders and is trading with an 80K low-risk funded account on our platform.
His next mission is to reach 10% of profit and double his funds to 160K.
We spoke with Tyler about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
Click herefor more Inspirations lessons and interviews from ourprofessionally funded traders.
- Tell us a little bit about you.
– 18 years old and grew up in San Jose, California
– I am currently enrolled in university
– I was previously a USAF cadet in High school and currently still am in college
- How long have you been trading?
Since August ‘20, I am a swing Trader.
- Briefly describe your Trading Plan and how it contributes to your success.
All positions are majorly based on market sentiment, which is derived from a fundamental analysis of the currency’s value. The only technical analysis I do is place my stop loss and look at the correlation between other financial derivatives and the underlying currency.
- Share with us a challenge you faced in your trading career and how you overcame it?
The biggest challenge in trading was transitioning from 100% technical analysis to 90% fundamentals / 10% technicals.
- How did you adjust risk management to your trading personality?
I pounced and planned on the best upcoming opportunities in advance. Once market sentiment shifts due to something unexpected or a data release is higher than expected, I am already prepared to go with the big fish. If data is higher / lower than expected, I already know in my mind where the market where going, therefore I will place a stop-loss percentage that is higher compared to a day trader.
- Describe a key moment in your trading career.
The key moment in my career was participating in the reaction to the May ‘21 Bank of Canada tapering announcement. From that day on, I knew that fundamental trading is the best way to win in this trading game.
- How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
Passing this challenge, with real money, showed me that consistency is possible with my strategy.
We Trade Forex – Come trade with us!
Evaluation on a real live trading account – Click Here.
- What is your mental/psychological strength, and how did you develop it?
My psychology is this: Trading is like the animal kingdom, you are the predator and the trades or your prey. As the predator, you need to make sure that every single pounce is planned and executed to the tee, or you risk wasted time and another night of hunger. Your planning phase and execution phase needs to be rock solid; as a killer, you need to stalk your prey, day and night, knowing the ins and outs so that when the perfect time comes, you are there to reap its flesh. This is how you profit from the markets; you pounce on the prey, and you wait, then wait, then wait a lot more until the perfect opportunity is upon you, and you press that button that puts you on the highway with the big players. Regardless of the little fish eating each other up in the short-term, you need to be the balanced one who is flexible yet steady to take the initiatives; plan, execute, and be flexible with changing market sentiment. This is how you will become rich as a week-to-week trader.
- What was your strategy to successfully passing The5%ers’ First Level?
Take advantage of a low price currency that has a higher underlying value.
- How is trading for the5ers different from trading by yourself?
The 5ers offers a dream, which is gifting the elite traders $3.76 million dollars. With this in my mind, I would have less purpose and less discipline because, without the partnership, it is one less person (5ers) counting me. I love the pressure and the more of it I have to make myself more responsible.
- What would you recommend to someone who is just starting with us?
Assuming that your psychology is rock solid and your trading plan is proven to have gains, I would highly advise people to plan out in advance what they are going to do with the payouts in ALL stages of being a PM. This includes taxes, where the money will sit, will be invested, do you need it for personal uses, etc.
- Share online resources that were/are significant in your trading development. Name and links are appreciated.
‘Kleveland’ on youtube was the one who opened my eyes to the world of fundamentals.
- Would you like to share anything else with us?
Yes. I don’t know if you have any right now, but I will be a part of the elite who achieve $3.76 million dollars as a PM no later than December ‘24. I plan to stay in this partnership for a long time.
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