Interviews with traders
July 15, 2021 | 10:26 am | Interviews with traders
July 15, 2021 | 10:26 h
Interviews with traders
We spoke with Winston about his trading plan, his knowledge and the lessons learned in trading in the foreign exchange market and our platform as a funded trader.
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- Tell us a little about yourself.
My name is Winston, I am a full time trader and I live in the Philippines.
- How long do you negotiate?
Five years ago, I started trading part-time in 2016 and decided to move full-time in 2019.
- Briefly describe your trading plan and how it contributes to your success.
My negotiation plan consists of 3 parts. The first is Market Analysis, which I have used to determine if I am a bullish or bearish currency. I used a combination of fundamentals, feelings, and technical analysis. The second is the trading plan itself which consists of the entry price, which I have used for technical analysis, risk management, profit targeting and trade management. And the last one is the review trade.
- Do you share with us a challenge you have faced in your business career and how did you overcome it?
The biggest challenge I faced in my business career was business psychology. The best way to overcome this is to create a concrete business strategy with good risk management. Be sure to try back and forward strategy so that you have confidence. And even if you have consecutive losses, it will not affect you emotionally and you will remain disciplined.
- How did you adjust risk management to your business personality?
0.5% risk per operation with a maximum risk or 1.5% in all open positions. I will adjust it if I have a streak of defeats.
- Describe a key moment in your business career.
My key moment was when I accepted that you should lose, lose a good trade, or even have a good trade turn into a bad business.
- How long did it take you to become a consistent operator and what aspects changed that have helped you stay consistent?
It took me 3 years to be patient and discipline. We need to focus on the process and not the benefits.
- What is your mental / psychological strength and how did you develop it?
Having 2 children helped me to have a lot of patience, which is one of the keys to success in business.
- What was your strategy for successfully passing the first level of The5% ers?
Appropriate position size to protect your capital against a 4% reduction.
- How do operations by the5ers differ from own operations?
I need to adjust my risk management and the sizing of my position due to strong leverage and disposition.
- What would you recommend to someone who has just started with us?
Adequate risk management and sizing of the position. Be patient and always follow your business strategy.
- Share online resources that were / are significant in your business development. The name and links are appreciated.
Jarrat Davis, Amplify trade.
- Want to share something more with us?
I just wanted to thank you for this opportunity.
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