In the trading world, success is often elusive, and the journey is riddled with challenges and pitfalls. But some traders, like Spencer from the UK, have shown remarkable resilience and determination to succeed. In an exclusive interview with The Funded Trader (TFT), Spencer shares his inspiring journey into the world of trading and how he overcame adversities to become a profitable trader.
Six years ago, Spencer embarked on his trading journey, fueled by the dream of making a fortune in the markets. However, he soon became entangled in the web of scammers promising quick riches. Undeterred, Spencer was drawn to the allure of trading and decided to self-learn. He was seeking knowledge from a close-knit group of like-minded individuals. Together, they formed a crew, supporting and guiding each other through the intricacies of trading.
TFT Interview with Spencer
Spencer candidly recalls that the desire for material gains initially lured him, but he quickly realized that trading required a long-term perspective. He advises new traders to avoid solely focusing on money and instead prioritizes learning and mastering the psychological aspects of trading. Overcoming greed and impatience were crucial milestones for Spencer, and he emphasizes that continuous self-improvement remains an essential part of his trading journey.
Regarding his trading style, Spencer follows a pure price action approach, steering clear of indicators. He has honed his strategy by identifying where liquidity lies and anticipating price movements, primarily focusing on day trading. While he once dabbled in scalping, he found it unsuitable for his lifestyle. Spencer believes in sticking to one currency pair, keenly understanding its tendencies, and making informed trading decisions.
As for risk management, Spencer emphasizes its paramount importance. He advises new traders not to risk more than they can afford to lose. As proper risk management can differentiate between success and failure in the markets. His learning curve included identifying psychological aspects that influenced his trading decisions, which he actively works on to this day.
Concluding the interview, Spencer shared valuable advice for aspiring traders: remain patient, stay focused on learning, and never give up. He urged traders to avoid comparison traps on social media, where flashy displays of wealth can mislead and distract from the real journey of learning and growth.
Spencer’s trading journey is a powerful example of perseverance, reminding us all that success in trading is not an overnight endeavor. For more details, watch the full interview:
About the Firm
The Funded Trader is searching for passionate and experienced traders who will succeed with their funds’ help by showing skills in unpredictable market conditions. They allow them to earn high profits by managing account sizes up to $1,500,000 and taking home profit splits up to 90%. They can achieve this by trading forex pairs, commodities, indices, and cryptocurrencies.