Gil Ben Hur Blog | Forex Funded Trader Tips For Beginners | Inspirations lessons | Talkmarkets
Founder and Owner of The5%ers Funding Traders Program
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I am a full time FX trader and entrepreneur and the founder of  The 5%ers Proprietary Trading fund, where we fund the top traders with no risk live accounts.

The 5%ers is a private proprietary trading firm, active in the global currency markets. We proudly distinguish ourselves ... more

Forex Funded Trader Tips For Beginners | Inspirations lessons

Date: Saturday, November 30, 2019 2:07 PM EST

Forex Funded Trader Tips For Beginners | Inspirations lessons

Forex Funded Trader Tips For Beginners, Inspirations & lessons from The 5%ers’ Forex Funded Trader:

Nikita.W.

32 years old, Germany.

Nikita.W. has just successfully passed our evaluation program with a great trading plan and has become a forex funded trader.

He is now one of our funded traders and is trading with a 24K forex funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 48K.

We spoke with Nikita.W. about his trading plan, insights, and lessons gained while trading in the Forex market and on our platform as a funded trader.

Click here for more Inspirations lessons from professional funded traders

  • How were you introduced to the Forex market?
    Through the book of Steve Nison, technical candlestick analysis.
  • Do you have a specific trading plan?
    My plan is a mix of price action and getting a feeling for the fundamentals.
    What’s the sentiment for today, risk-off or on. And I don’t put much pressure on the entry, instead, I try to have good management for my trade.
  • Tell us about your trading routine.
    Always check the news for the day. Then I mark important price zones for the, with the high and low of the previous day and week.
    Checking the ATR Indicator, because most of the time, the price is moving in the average range (so you get a good idea for your target).
    And after that, I just watch how the price is acting around those zones.

Click here for more Forex Funded Trader Tips For Beginners

  • Do you have any risk management techniques? If so, please, elaborate?
    Most of the time I set my stop loss 30 pips away. And risk 1-1.5% of my capital.
  • What was your biggest challenge in trading, and how did you overcome it?
    Trading with too much leverage. Most of the time, when you do this, you just chase the money.
    But if you focus on the process, it means being in a trade where the probability is on your side, it will add up in the long run.
    It means if you have an account size of 6000 and you wanna earn 1000, but in one week, you probably will over-leverage and blow up your account.
    But if you put your mind in the long run, you could split $1000 in 20 days, this would be only 50 for each day. That shift really helped me to overcome the challenge.
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