$49,186.33 profit payout with The5ers.
Hugo is one of our veteran traders, and he has been trading with us for 18 months.
Watch The Interview With Hugo
Weekly Forex Analysis Oct 11 - 14, 2022
In today’s trading room, we analyzed the major FX pairs, such as GBPUSD, EURUSD, and USDCAD. He also started building positions on those two pairs.
The Dollar remains very strong, and the up-trend is intact for the DXY.
The American Indices, especially the SP500, continued losing momentum on the downside.
Ruben started building a position expecting the market to take some fresh air.
[Edited for a Forums Violation]
Weekly Forex Analysis Oct 18 - 21, 2022
In today’s trading room, we discussed the implications of a strong dollar regarding international debt and its effects on the US economy.
We expect a reversal in trend and start seeing some signs of potential reversals, especially on GBP/USD and EUR/USD.
We used the fundamental analysis for our bias for short-term trading.
We used building techniques and fixing techniques to respond to market activity.
Everything that doesn’t kill your trading account makes you stronger.
Oleh U. is 40 years old, From Ukraine.
Oleh has just successfully passed Level 1. He is now one of The5ers funded traders and is trading with an 80K low-risk funded account.
His next mission is to reach 10% of profit and double his funds to 160K.
We spoke with Oleh about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
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Tell us a little bit about you.
I am a lawyer and have worked for a government agency for a long time. But I have always been attracted by the freedom that trading gives - you don’t need to sit in the office all day. Therefore, since 2013, I have begun getting involved in binary options and forex. -
How long have you been trading?
Since 2014, I have been trading part-time forex, and a year and a half ago, when I lost my main job, I started trading full-time. -
Briefly describe your Trading Plan and how it contributes to your success.
In trading, I combine price action (in particular, candlestick analysis) and trading with indicators. I believe there is no universal recipe, and each trader should develop their own trading style. I try to enter a trade on an impulse candle with a trend and trail it until the trend is exhausted.At first, I spent many years without results on trading with indicators, then on price action (I think that the significance of the levels is too overestimated), and only their combination began to bring positive results for me. I believe that capital prоtection is the number one for a trader, so if the price does not go to my target for some time or starts to reverse, I close the trade. -
Please share with us a challenge you faced in your trading career and how you overcame it.
I believe that only perseverance can lead to a goal. During these eight years, I often experienced despair, but the desire to make a living from trading kept me moving forward. I agree with the statement that you need to spend 10,000 hours (maybe someone needs less, someone more) to become a professional in any field.If at first years I looked at the chart and frantically tried to understand what was happening, now 5 seconds are enough for me to see the trend, levels, graphics- and candlestick patterns. Again, practice and experience are the keys to success. When you gain confidence in your trading skills, 90% of the trading problems will disappear. -
How did you adjust risk management to your trading personality?
In my trading, I risk a percentage not of the entire deposit but of the amount I am ready to lose (I am not ready to lose more than 30% of the deposit - otherwise, I will stop trading).When passing the5ers challenge, I applied the same principle - I risked 3- 4% in one deal, not on the amount of 20,000 (whole deposit), but on the amount of 1200 (to max loss). -
Describe a key moment in your trading career.
For me, it was the realization of the symbiosis of the trading system, money management, and psychology. It’s like swimming - you will invariably sink if you use only your arms or legs. To swim, you need to work with your whole body synchronously. -
How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
It wasn’t a moment like turning on a light bulb. At first, I was losing for a long time, then I swam in the breakeven area, and only in the last two years, I began to earn. Practice, practice, practice is the answer. -
What is your mental/psychological strength, and how did you develop it?
For me, the most important thing is to follow a trading plan. Violation of the plan triggers all the demons of trading - FOMO, overtrading, early exit of trades, holding losses, etc. I don’t remember who said it - show me a trader who follows a trading plan strictly, and I will show you a successful trader. Unfortunately, during the first challenge with The5ers, I violated my plan and lost my account. -
What was your strategy to successfully pass The5%ers’ First Level?
As I said above, it was a strict risk limit and following a trading plan. For example, in my trading, I trade on the daily, h4, and h1 timeframes; with The5ers, I traded on m5 and sometimes even m1. And it was also a serious challenge for my discipline. But if you can successfully trade the lower timeframes, the higher timeframes are much easier. -
How is trading for the5ers different from trading by yourself?
With The5ers, there are limitations of risks, which is very good for developing discipline. -
What would you recommend to someone who is just starting with us?
1)Believe in your system and your skills.
- Seriously limit your risks.
- Do not rush your trading - you have a lot of time with the5ers.
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Would you like to share anything else with us?
I like one phrase by Mike Bellafiore (an author of One good trade book) - Everything that doesn’t kill your trading account makes you stronger.
Weekly Forex Analysis Oct 24 - 28, 2022
In today’s trading room, Saul shows one of his large trading accounts ($600,000) and trades it in front of everyone.
We expect a very volatile week with a lot of high-impact events.
We identify large interventions in the market, especially in the JPY, as it is getting close to sensible levels.
We will go LIVE tomorrow @9:00 AM EDT on The5ers YouTube channel
Brian has successfully passed our PM 2 instant funding program and is now one of The5ers PM 3 funded traders, trading on a $160K low-risk account.
His next mission is to reach 10% of profit and double his funds to $320K.
Weekly Forex Analysis Oct 31 – Nov 4, 2022 - Upcoming, Traders Day Live Event
In today’s trading room, Saul spoke about the upcoming Tradersday.live event, which will take place in the UK in 2023. It’s going to be the largest educational meet-up trading event in Europe
We also analyzed the charts for the upcoming week. We start with the higher time frames and then check the lower time frames to look for intraday opportunities.
We see how the Euro, GBP, and AUD start forming potential reversal patterns on the daily charts. They have formed new higher highs and higher lows. However, the Fed keeps increasing interest rates in the US, increasing the demand for the US dollar.
Jirachat is now one of The5ers PM 3 funded traders, trading on a $320K low-risk account.
His next mission is to reach 10% of profit and double his funds to $640K.
Weekly Forex Forcast Nov 7 - 11, 2022
In today’s trading room, we discussed the potential reversal patterns on some charts, such as head and shoulders on USD/CAD and inverse head and shoulders on AUD/USD.
These patterns align with the fundamental analysis of a long-term weaker USD.
We did some scalping and successfully managed a long position on EUR/USD.
Weekly Forex Forcast Nov 14 - 18, 2022
Today, we discussed the last CPI release on Thursday, which led the US indices to explode and the DXY to tumble.
As a macroeconomic correlation, the balance between risk-off and risk-on environment keeps leading the global market direction.
The EURUSD and GBPUSD have pushed around 10% from their yearly low. However, the bullish momentum in the Dollar may end if we keep getting better economic numbers.
Finally, today, the markets are relatively calm and not making any big movement.
Weekly Forex Forcast Nov 21 - 25, 2022
Today, we reviewed the DXY, which showed a small reversal on the H4 timeframe at the end of last week. This actually gives an interesting opportunity to make the downtrend continue for the Dollar.
Ruben has opened some trades in EURUSD and GBPUSD that could potentially continue their push and get stronger against the USD.
This week may show low volatility in the US markets because of National Holiday on Thursday and Black Friday.
David Explains Why Trading With The5ers Helped Him Become a Better Trader
David T. is 54 years old, From the United Kingdom.
David has just successfully passed Level 1. He is now one of The5ers funded traders and is trading with an 80K low-risk funded account.
His next mission is to reach 10% of profit and double his funds to 160K.
We spoke with David about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
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Tell us a little bit about you.
I’m an ex-software developer who has been trading on and off part-time for about 25 years now. I’ve always struggled with risk management, and hence I’ve never been profitable. I’ve only just very recently just realized that becoming a funded trader was a reality, as I always thought you had to already be a professional trader to get funding. So I decided to give 5ers a go as I like the way they differentiate themselves from the competition by having at least 6 months to pass the level 1 evaluation phase. This is far better and allows you to trade normally and at your own normal pace as opposed to the other firms who force you to reach high-profit targets in 30 days or so. I intend to run up to the max of six 5ers accounts simultaneously, so I always have accounts with good funding levels, even if I occasionally lose an account. -
How long have you been trading?
On and off for 25 years or so. I am a part-time trader. -
Briefly describe your Trading Plan and how it contributes to your success.
Strategy one is to trade in a strong trend on any timeframe and enter trades on any good pullbacks. Strategy two is to trade any breakouts while in a range-bound period. -
Please share with us a challenge you faced in your trading career and how you overcame it.
The only challenges have been keeping to keep the risk on each trade low to protect my personal accounts in the long run. With a funded account, you have no choice but to apply good risk management, so I only trade with funded accounts now. -
Describe a key moment in your trading career.
My Achilles heel was always very poor risk management and also lack of capital which I think is related to only having a small personal account leads to overleveraging and risking too much to try and grow your account. With a largely funded account, you have to obey strict rules and risk parameters, and also the large. -
How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
25 years! Discovered funded accounts and started applying proper risk management. -
What is your mental/psychological strength, and how did you develop it?
Becoming more patient and keeping risk low as possible. I’m still developing these strengths, but I’m slowly getting there. -
What was your strategy to successfully pass The5ers’ First Level?
I failed on my 1st attempt at passing the evaluation. However, I started a 2nd instant-funded account. On this 2nd account, I was initially going to take my time with lots of small profits over several months. I had a break-even trade, and then, however, on my 2nd trade, I scaled into a very good move on US500 (S&P 500) index and hit my 7% target to pass level one within a day or so of opening my account. So I was definitely a bit lucky, but I was intent on being a lot more patient with this 2nd account evaluation and applying better risk management and waiting for the right setups, and taking my time. -
How is trading for the5ers different from trading by yourself?
Strong emphasis on good risk management and access to large amounts of capital. -
What would you recommend to someone who is just starting with us?
Learn on a demo account and then a live account with a small amount of funds to get a consistent trade strategy with most of the emphasis on risk management, as this is key and allows you to learn to develop your trading strategy while not losing all your account funds. Then once you can trade consistently, have a look at funded accounts to start making a decent income. Aim to just make 2-3% a month profit or even just break even as that is what is realistic long-term, and that can be a good income with a large funded account. Above all, forget to try to get rich quickly as that is the fastest way to be unsuccessful in trading. -
Share online resources that were/are significant in your trading development.
Forexsignals TV youtube channel is a very good resource.
Weekly Forex Forcast Nov 28 - Dec 2, 2022
In today’s trading room, we reviewed the DXY movement of last week. The DXY seems to be continuing its downtrend and confirming the switch to a risk-on environment.
Also, the GBPJPY has provided a good swing opportunity from last week, but also a nice spot for day trading.
Finally, after the Thanksgiving holiday, US indices have been very quiet. We are expecting an increase in volatility the following week.
Weekly Forex Forcast Dec 5 - Dec 9, 2022
In today’s trading room, as usual, we discussed about the Dollar currency and analyzed deeper the last movement in the DXY.
The DXY keeps losing value, 7% from November already, and is not showing any strength.
Regarding Gold, the market reached again $1,800, which was a key zone for 2 years now. The market can provide some rejection after the long rally we had in October.
Weekly Forex Forcast Dec 12 - Dec 16, 2022
In today’s trading room, We went through the fundamentals for the week. CPI on Tuesday may influence the final number for the interest rate on Wednesday, which is currently expected to rise 0.5%.
We look at the technicals and see how prices approach key supply and demand areas right as core announcements are expected this week.
Finally, we built a position on EUR/USD and closed for breakeven.
The5ers risk parameters shaped the discipline I needed for trading success
Lih Y. is 34 years old, From Malaysia.
Lih has successfully passed two Level 1 accounts, the $40K and the $80K. In addition, he also passed the $100K Bootcamp account. He is now one of The5ers funded traders and is trading with an overall $220K funded accounts.
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.
We spoke with Lih about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.
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Tell us a little bit about you.
A full-time surgeon with a strong passion for trading -
How long have you been trading?
I have been trading for 5 years. I am a swing trader. -
Briefly describe your Trading Plan and how it contributes to your success.
My trading plan consists of daily analysis of the market in the morning, and I will mark the areas of interest and set alerts. Then, I will wait for the alerts to remind me to take a look at the charts again and make some final confirmations, especially in regards to risk-reward and also whether that move to my 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 I could take action pretty quickly. -
Please share with us a challenge you faced in your trading career and how you overcame it.
Patience, both in waiting for good setups to form or waiting for my positions to materialize fully. Medication is the way I used to overcome this challenge and keep having the bigger picture in mind to remind me of what I wanna achieve from trading, knowing that patience is everything that matters. -
How did you adjust risk management to your trading personality?
Currently, I have an even more sophisticated way of adjusting risk after taking a couple of other prop challenges. I would start with 0.5% risk and quickly reduce it to 0.25% if the first few positions were losers. This enables me to have plenty of room for losing streaks. This reduces my stress while trading but still maintains that flexibility of increasing risk if I manage to capture 4 times the current risk level. But I would cap it at 1~1.5% risk per trade at most. -
Describe a key moment in your trading career.
Passing the challenge for the first time really boosted my confidence. It enables me to take this bigger account size challenge. -
How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
5 years. Stop revenge trading and take the process step by step. -
What is your mental/psychological strength, and how did you develop it?
After losing enough time, you will understand that unless you change the way you think and manage your tradings, you will not achienve success. The thought of failing hurts more than anything else. Hence I make sure that I could lose to the market if the current market sentiment doesn’t suit my strategies, but not to my own psychological weakness. -
What was your strategy to successfully pass The5ers’ First Level?
Smart money concepts, in short. -
How is trading for the5ers different from trading by yourself?
The risk parameters shape the discipline needed for trading success. -
What would you recommend to someone who is just starting with us?
Absolutely, the experience of trading with you guys is amazing, and the support team is very helpful as well. -
Share online resources that were/are significant in your trading development.
Ariel Fx, Trading nut podcasts, Desire to trade podcast -
Would you like to share anything else with us?
Thank you for giving us the opportunity, and I will try to make a profit for the firm as well.
Weekly Forex Forcast Dec 19 - Dec 23, 2022
In today’s trading room, we prepare for Canadian CPI on Wednesday, expected to come out lower than previous.
We see a lot of weakness across all major pairs, including EUR/USD, GBP/USD, and AUD/USD.
We took some little scalping trades on the 1m chart on GBP/USD.
Weekly Forex Forcast Jan 2 – Jan 6, 2023
In today’s trading room, we discussed the Non-Farm payroll on Friday, potentially bringing interest into the USD.
All major pairs are in areas of confirmation, whereas to confirm a trend reversal or continuation.
JPY pair are the only ones moving. JPY is looking very strong and with nice opportunities to join the trend.
Weekly Forex Forcast Jan 9 – Jan 13, 2023
In today’s trading room, we discussed the NFP on Friday and expecting a lower CPI this week, and we see confirmation of a USD bearish movement.
AUD looks strong across the board as CPI is expected to come higher than the previous time.
We also took some profitable scalps on EUR/USD.
Weekly Forex Forcast Jan 16 – Jan 20, 2023
In today’s trading room, we analyzed the charts for the upcoming week. We start with the higher time frames and then check the lower ones to look for intraday opportunities.
We expect CPI for CAD and GBP to move the markets this week.
The clearest movement is on Gold, where the bias is clearly bullish. We marked the demand areas to take advantage of when the price retraces to them.