The 5%ers is a proprietary firm with an office based in the UK, London. They offer instant funding account models with low-risk or aggressive-risk features. You can choose from $6,000, $10,000, and $20,000 instant funding account sizes, which can be scaled up to $4,000,000 in size.
- Algo trading allowed
- Advanced dashboard
- Live trading room for their clients
- One-time fee
The 5%ers Interview with Trader
The 5%ers shared an interview with one of its traders. Lih is one of the traders of The 5%ers who shared his journey in this interview. Lih has successfully passed two Level 1 low-risk account, the $40K and the $80K. In addition, he also passed the $100K Bootcamp account.
His trading plan consists of daily analysis of the market in the morning. He will mark the areas of interest and set alerts. Then, he will wait for the alerts, retake a look at the charts and make some final confirmations. Also, whether that move to his alert is influenced by some big news that might alter the fundamental bias of that particular pair. Having a similar routine reduces analysis paralysis, and he could take action quickly.
He also shared that the most important thing is ‘Patience,’ both in waiting for good setups to form or for positions to materialize fully. Lih has an even more sophisticated way of adjusting risk after taking several other prop challenges. He would start with 0.5% risk and quickly reduce it to 0.25% if the first few positions were losers. This enables him to have plenty of room for losing streaks. This reduces his stress while trading but maintains the flexibility of increasing risk if he captures four times the current risk level. His next mission is to reach 10% of profit in the low-risk program and double his funds to $240K, and 5% profit on his Bootcamp program to receive a $125K account.
Interested traders can also read about Prop firms that allow holding forex pairs over the weekend by clicking on the link.