In a recent interview with The5ers, trader PhelmsFX offered valuable insights into his journey as a trader.
In a recent interview with The5ers, trader PhelmsFX offered valuable insights into his journey as a trader.
In a recent interview with The5ers, trader PhelmsFX offered valuable insights into his journey as a trader. With four years of full-time trading experience, PhelmsFX attributes his success to a disciplined approach and a robust trading plan.
PhelmsFX focuses exclusively on EUR/USD and gold (XAU), risking 1-2% of his capital per trade and limiting himself to two trades daily. He emphasizes the importance of avoiding trades around major news events and requiring 3-4 confluences before entering a trade. His approach is designed to maintain consistency and avoid impulsive decisions.
PhelmsFX recounted his struggle with impatience during a payout challenge with The5ers. He learned to slow down and remain steady, ultimately realizing that patience was key to long-term success. He adjusted his risk management to balance between 1% and 2% risk per trade, focusing on not overtrading or revenge trading.
A moment in his trading career was inspired by a friend’s success. Witnessing her achievement motivated PhelmsFX to push harder, leading to his first payout the following month. This highlight reinforced his belief in perseverance.
PhelmsFX notes that achieving consistency took about a year of persistent effort and learning from mistakes. His mental strength stems from an unwavering commitment to not giving up, regardless of setbacks.
His strategy to pass The5ers’ evaluation involved using support and resistance levels, trendlines, and candlestick formations. PhelmsFX views trading with The5ers as a way to access more capital and opportunities compared to trading independently.
For newcomers to The5ers, PhelmsFX recommends persistence and taking advantage of the numerous opportunities the firm offers.
Want to read about the firm? Click here.
The Funded Trader follows a belief that every retail trader deserves an opportunity to raise capital based on their performance and commitment to building their own business. They are searching for passionate and experienced traders who will succeed with the help of their funds by showing skills in various market conditions.
Bespoke Funding strives to create unique funding opportunities for traders worldwide by creating approachable ways to become a professional, funded trader who can remotely manage their capital. They have developed a user-friendly experience with the industry's best technology to back it.
MyFundedFX offers traders three different challenge programs that aim to provide an opportunity to trade without risking their own capital. Profitable traders receive a payment based on a specific percentage of the profits they make while having no liability on the firm's capital, meaning that they will cover all losses.
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