I Manage $160K Thanks to The5ers’ Absolute DD and No Time Pressure
Control your risk with The5ers at 0.5-0.75% per trade, so you won’t knock out by losing streaks. That’s Caleb’s Advice. Caleb S, 38 years old, From the USA. Caleb has successfully passed our PM 1 instant funding program and is now one of The5ers PM 2 funded traders, trading on a $160K low-risk account. His […] The post I Manage $160K Thanks to The5ers’ Absolute DD and No Time Pressure appeared first on The5%ers | Funding Traders & Growth Program.
We spoke with Caleb about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
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Watch The Interview With Caleb
PM 2 $80K low-Risk Account
- Tell us a little bit about you.
I’m a trial lawyer from Oklahoma, married with four kids, and I swing trade Forex.
- How long have you been trading?
I am a swing trader with 15 years of experience.
- Briefly describe your Trading Plan and how it contributes to your success.
On the weekends, I will mark the EU, GU, UJ, AU, NU, and UC with monthly, weekly, and daily support and resistance levels and take note of the clearest ones. In the Asian sessions, I review the potential high-impact news releases and sentiment and place limit order trades on the best levels. It takes about 30 minutes on the weekends and 5-10 minutes daily.
- Please share with us a challenge you faced in your trading career and how you overcame it.
At one point, the number of different trading styles people advocated was overwhelming. So I had to shut it out and trade what worked for me.
- How did you adjust risk management to your trading personality?
If you “adjust risk management to your personality,” you are doing it wrong. The Kelly criterion doesn’t care about personality. Some of the best trading strategies have low win rates and high payoffs, which take strong nerves to trade.
- Describe a key moment in your trading career.
Trading money I could afford to lose.
- How long does it take to become a consistent trader, and what aspects did you change that helped you become consistent?
3 years. Tracking my performance and increasing the reward/risk ratio.
- What is your mental/psychological strength, and how did you develop it?
There’s no substitute for experience.
- What was your strategy to successfully pass The5ers’ First Level?
Controlling risk at 0.5-0.75% per trade, so I wasn’t knocked out by losing streaks.
- How is trading for the5ers different from trading by yourself?
It takes the emotion completely out of it.
- What would you recommend to someone who is just starting with us?
Understand your max drawdown and adjust your risk so you can survive 1.5x your maximum drawdown.
- Share online resources that were/are significant in your trading development.
https://paracurve.com/
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The post I Manage $160K Thanks to The5ers’ Absolute DD and No Time Pressure appeared first on The5%ers | Funding Traders & Growth Program.
