In an exclusive interview with FundedNext, accomplished trader Ronald from Uganda, currently residing in Dubai, shared his remarkable journey into the world of prop trading. Ronald, who has been trading since mid-2020, provided valuable insights into his trading strategy, risk management approach, and memorable lessons learned along the way.
Ronald, with a background in business administration and fisheries management, transitioned into trading during the lockdown in 2020. Inspired by a friend’s mention of Forex trading, he embarked on a learning journey through the BabyPips website. After six months of comprehensive learning, Ronald ventured into trading, starting with demo accounts and gradually progressing to funded trading programs.
FundedNext Trader Ronald Interview
While working a full-time job in Dubai, Ronald ingeniously balances his trading activities. Employing a swing trading strategy, he strategically sets trades using daily, four-hour, and one-hour timeframes. Unlike many full-time traders, Ronald minimizes screen time by relying on pending orders and checks on trades during breaks or free time.
As a swing trader, Ronald focuses on technical analysis, utilizing tools such as trendlines, moving averages, Fibonacci, and the Ichimoku cloud. Notably, he abstains from news trading, emphasizing the reduction of emotional involvement. Ronald primarily trades currency pairs like EUR/USD, GBP/USD, USD/JPY, USD/CHF, and AUD/USD, identifying and capitalizing on trends.
Ronald employs a disciplined risk management strategy, risking a fixed 2% of his capital per trade.
Reflecting on his journey, Ronald shared a crucial lesson learned early in his trading career. Initially succumbing to greed and aiming for substantial profits, he faced a significant setback that reshaped his mindset. This experience taught him the importance of realistic profit expectations and avoiding excessive risk, contributing to a more balanced and resilient trading approach.
Here is the Full Interview:
About the Firm
FundedNext is a proprietary trading firm with the legal name GrowthNext F.Z.C that was incorporated on the 18th of March, 2022. They are located in Dubai, United Arab Emirates, and are being managed by CEO Abdullah Jayed. FundedNext provides traders with the opportunity to choose between five account types, two two-step evaluations, and three one-step evaluations while developing their own MetaTrader 4 Incenteco and MetaTrader 5 GrowthNext servers.