In a recent interview with Philip, a seasoned trader from Cleveland, Ohio, The 5%ers delved into his journey through the intricate world of Forex trading. Philip, who has successfully passed multiple accounts and scaled profits, generously shared his valuable insights with us.
The interview began with Philip’s reflections on the transition from demo to live trading. He emphasized the psychological shift when real money is at stake, underlining the importance of sound risk management and the challenges of controlling emotions during live trades.
The 5%ers Trader Philip Interview
Philip recounted his entry into trading, discovering the complexities of the Forex market during a period of career transition. Despite initial skepticism about prop firms, he found a supportive environment with The 5%ers, enabling him to trade more confidently.
The conversation touched upon Philip’s unique approach to trading, where he described his commitment to a single side of a trade and the significance of staying disciplined in the face of market fluctuations. His strategy, primarily focused on scalping, involves a meticulous use of moving averages and careful risk management.
The discussion then shifted towards Philip’s remarkable journey with The 5%ers, starting with a 60k two-step evaluation account. Moreover, Philip’s ability to navigate through a drawdown showcased his resilience and commitment to his trading strategy. He emphasized the importance of not attempting to recoup losses hastily but rather adopting a measured approach to regain profitability.
The interview also highlighted Philip’s success in scaling profits with The 5%ers, thanks to the availability of more trading capital. The prop firm’s funding model allowed him to stick to tighter risk management, contributing to his overall success.
Here is the Full Interview:
About the Firm
The 5%ers is a proprietary firm with an office based in London, UK. 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.