In a recent trader interview shared by The 5%ers, Xolani, a part-time trader and full-time Software Developer based in South Africa, revealed his impressive journey of transforming a $60,000 high-stakes trading account into $70,000. Despite holding a demanding position in a bank, Xolani’s dedication and strategic approach to trading has not only yielded substantial profits but also earned him recognition within The 5%ers community.
Xolani, who balances a full-time job as a Software Developer and his love for sports, particularly soccer, has demonstrated that success in trading is attainable even with a part-time commitment. With three years of trading experience, he entered the forex market in 2021 after laying the groundwork during the Covid-19 pandemic in 2020.
The 5%ers Trader Xolani Interview
Key to Xolani’s success is his meticulously crafted trading plan. Each account has its tailored strategy, and he regularly back-tests his approach quarterly. This plan helps him in identifying high-probability setups and determining optimal entry and exit points, contributing significantly to his profitability.
Xolani candidly shared the challenges he faced in his trading journey, primarily centered around excessive risk-taking and a lack of consistency. To address this, he developed a robust risk management plan, limiting his risk to 1% of his account when winning and 0.5% per position. Through gradual position building, he mitigated the risk of over-leveraging and maintained discipline.
Recognizing the importance of adaptability, Xolani adjusted his trading style by taking only 1:1 or 1:1.5 risk-to-reward trades within his risk parameters. Weekly journaling of trades enhanced his understanding of his system, allowing him to adapt to varying market conditions and refine his setups. Having surpassed the $70,000 mark, Xolani’s next mission is ambitious—achieving a 10% profit to scale his high-stakes trading account to $80,000.
Click here to read the Full Interview.
About the Firm
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 $5,000, $10,000, and $20,000 instant funding account sizes, which can be scaled up to $4,000,000 in size. In addition, you can also choose their high-stakes two-step evaluation program. And lastly, you can opt for their $100K or $250K Bootcamp challenge model, which has the potential to scale up to $4,000,000 in size.