The5ers Educational Center

[The5ers]

Weekly trade idea on AUD/USD.
Week: 6-10.06.2022
Aggressive rate hike RBA.
AUD is expected to have another pump up as the RBA prepares themselves for one of the most aggressive hikes seen in years. As we have seen previously, rate hikes have proven a great opportunity for bulls to get into the market when the liquidity arrives. With China moving out of lockdown and positive jobs reports, the AUD is looking strong.

Key Levels:

• Resistance 0.72600
• Support 0.71600

Trend AUD/USD.
Bullish

Overall trend recently has been to the upside recently with the AUD looking more and more promising given current conditions.

Call to Action/Trade Idea
Wait for a retest on the trend line and a fair value price to enter long on this pair prior to the RBA rate hike decision.

For more forex trading insight, follow us on TradingView: @the5erstrading

 

[The5ers]

Weekly trade idea on USD/CHF.
Week: 20-25.06.2022
Losing confidence in the USD.
The Fed continues to hike rates in the USA which usually creates an immense amount of demand for the USD signalling the economy is growing, but as we hike and hike more aggressively, many are starting to realise that when we have reached these high interest rates before, it has resulted in a recession. As time moves forward, the USD is looking less and less appealing.

The CHF on the other hand have hiked rates for the first time since 2015 creating an explosive move. Many investors are starting to look at the CHF as a great opportunity over the next 6 months.
Key Levels:

• Resistance 1.000
• Support 0.957

Trend USD/CHF.
Sideways

Overall trend recently has been to the upside but has now started to form a sideways channel.

Call to Action/Trade Idea
Wait for a break below recent support, if a clean break is provided, short.

For more forex trading insight, follow us on Instagram: @the.5ers

 

[Juan.bevilacqua]

Correct Mindset for Traders - Breaking Down the Trading Profession. Trading Psychology

A correct mindset is key for success in trading, Gil Ben Hur giving pro mental tools for achieving maximum performance in trading.

Thanks for sharing!!

 

[The5ers]

Weekly Forex Analysis July 4 – 8, 2022 – In today's session, we discussed the DXY, Indices, and agricultural commodity prices.

For more quality trading insight, follow us on Instagram, @the.5ers

 

[The5ers]

Weekly Forex Analysis July 11 – 15, 2022

In today’s trading room, we discussed the dollar flying against other currencies, as we see the DXY reaching a top at 107.00.

Mostly against the European basket, the Dollar remains very strong. As Ruben explained, there are two mains reasons for that:

1 - European economies didn’t start to fight inflation, in opposition to the US, which had already hiked its interest rate several times.
2 - The Dollar remains strong against worldwide inflation and a risk-off environment.

Also, Ruben had an explanation regarding the forecast on Oil. JP Morgan expects the oil price to reach $380 if Russia cuts exportations.

Finally, Ruben discussed several CAD pairs and managed an interesting trade on Gold in a consolidation zone.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Weekly Forex Analysis July 18 – 22, 2022

In today’s trading room, we have analyzed the Dollar Index (DXY). We highly expect it to be still on an overextended movement and can bring a dip on the downside.

The indices as well have been recovering well from their bottom and are now struggling at an important key zone. Ruben also mentioned that it might be the beginning of the switch between Risk-off and Risk-off environment, as we see Crypto and Oil going up on a short time scale.

Finally, at the end of the session, Ruben made some scalping on the Nasdaq, which had a volatile market opening and led to some opportunities.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Weekly Forex Analysis July 25 – 29, 2022

In today’s trading room, we have analyzed the Dollar Index (DXY). We highly expect it to be still on an overextended movement and can bring a dip on the downside.

The indices as well have been recovering well from their bottom and are now struggling at an important key zone. Ruben also mentioned that it might be the beginning of the switch between Risk-off and Risk-off environment, as we see Crypto and Oil going up on a short time scale.

Finally, at the end of the session, Ruben made some scalping on the Nasdaq, which had a volatile market opening and led to some opportunities.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Weekly Forex Analysis Aug 1st - 5th, 2022

In today’s trading room, we continued analyzing the Dollar, which is the top asset to look for during this market period.

At the end of last week, the Dollar depreciated against the other pairs of the basket.

And it may have some space to go. Technically, the DXY arrives in a confluence zone where it can attract some buyers.

Finally, we continued to highlight the negative correlation between the Dollar and capital markets, which may be the continuing switch between risk-off to risk-on period.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Marvin has just successfully passed our Level 1. He is now one of The5ers funded traders and is trading with a 40K low-risk funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 80K.

We spoke with Marvin about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

• Tell us a little bit about you.
  I’m Marvin, 29, born and raised in Germany. I’m working as a developer in my regular job and started trading as a side hustle right before the pandemic.
  
  
• How long have you been trading?
  Almost every day for 2 years, I am a swing Trader.
  
  
• Briefly describe your Trading Plan and how it contributes to your success.
  My trading plan includes very clear rules on risk management as well as simple daily and weekly checklists, which help me minimize the time needed every day to find potential setups and manage trades. My strategy is based on basic price action, multi-timeframe analysis, and taking advantage of very clear trends.
  
  
• Please share with us a challenge you faced in your trading career and how you overcame it.
  The biggest challenge was definitely “strategy hopping.” The strategy I’m using now is pretty much the same one I used when I was a couple of months into the process, and it was working back then. However, it didn’t work fast enough for me at that time, which is why I tried 2-3 different approaches in the following months. Of course, that didn’t work fast enough either. After reading several books on trading psychology, I could identify impatience as my main problem and decided to not make any changes to positions once they were open. This took me from break-even to being profitable. The funny thing is, looking back, all these strategies worked when you accept losses are part of the game and stick with it for long enough to let the probabilities play out.
  
  
• How did you adjust risk management to your trading personality?
  I risk a fixed percentage of my account per trade with a fixed SL and TP, which I will not change once the trade is placed. This makes it easier for me to eliminate false decisions triggered by anxiety or greed and prevents me from having to look at the charts the whole day.
  
  
• Describe a key moment in your trading career.
  Seeing losing trades as “costs of business” and not necessarily as an error in my strategy provided a lot of peace of mind for me. Of course, this doesn’t mean one should stop looking for ways to improve, but one should do it based on data, not based on an impulse triggered by a losing trade.
  
  
• 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 took about 1.5 years, and as mentioned earlier, the biggest accelerator to become profitable was to stop “managing” open positions.
  
  
• What is your mental/psychological strength, and how did you develop it?
  I think you need to be quite persistent to become profitable. For me, many hours of backtesting helped to increase my confidence in my system and push through the days when things were not going great.
  
  
• What was your strategy to successfully pass The5%ers’ First Level?
  Choosing the risk per trade carefully and not rushing the process.
  
  
• How is trading for the5ers different from trading by yourself?
  I think psychologically, it’s a bit easier to detach from large sums of money you see in your account since you are not trading with your own capital.
  
  
• What would you recommend to someone who is just starting with us?
  Focus on your win rate, not the money values in your account. If you switch from a 200$ account to a 10k account, losses can be quite intimidating when you see those huge red numbers.
  
  
• Share online resources that were/are significant in your trading development. Name and links are appreciated.
  I can recommend the books by Mark Douglas. They helped me to understand the psychological side of trading. There is also a video series available on YouTube which summarizes a lot of the content from his books.

For more quality trading insight, follow us on Instagram, @the.5ers

 

[The5ers]

Weekly Forex Analysis Aug 8th - 12th, 2022

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 time frames to look for intraday opportunities.

We also analyze the relationship between a strong USD and inflation and possible trading opportunities.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Weekly Forex Analysis Aug 15 - 19, 2022

**In today’s trading room**, we discussed the Dollar and especially the EURUSD and GBPUSD key levels for the week.

The Dollar had been depreciating strongly after the CPI news last week, but the Dollar has been retracing all the movement.

It seems to be a fake-out, and the Dollar maintains its status as a strong currency in this period.

Lastly, Ruben has made some scalp at the opening in the Nasdaq, after the market opens strongly.

oint_right: For more quality trading insight, follow us on Instagram, @the.5ers

oint_right: We will go LIVE again tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Steven has just successfully passed our Level 1. He is now one of The5ers funded traders and is trading with an 80K low-risk funded account on our platform.

His next mission is to reach 10% of profit and double his funds to 160K.

We spoke with Steven about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

• Tell us a little bit about you.
  I have been on the trading journey for a couple of years while holding a full-time job.
  
  
• How long have you been trading?
  I have been trading for 9 years, and I am a part-time Trader.
  
  
• Briefly describe your Trading Plan and how it contributes to your success.
  Manage risk and emotions to overcome each psychological obstacle coming my way. Stick to the trading plan and adjust according to market conditions. Eliminate frivolous trades as much as possible.
  
  
• Please share with us a challenge you faced in your trading career and how you overcame it.
  The psychological obstacle was a major challenge. It took about 2 years to overcome it by finding out what helps in tackling the blocker in my journey. These include setting up a conducive trading environment, time of the day that trading works well, agreement with family members to create the space for my pursuit, physical objects as reminders to limit the number of poor trades made, and news platforms subscription that help in understanding the reasons for movement of the market, etc.
  
  
• How did you adjust risk management to your trading personality?
  I set a limit to the contract size and managed it according to my read of the market. If I am wrong for a consecutive number of trades, the size will be reduced to manage risk.
  
  
• Describe a key moment in your trading career.
  I am a trend trader, and there are times that I am unable to pull myself away from the ranging market. The key moment was when I was, for once, able to drag myself away from the trading computer. Later that night, I reflected on my actions for the day and was proud of them.
  
  
• 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 took me 2 years after a friend and mentor shared a key strategy that worked for me. It took a while for it to stick and for me to execute the strategy like a machine. Naturally, I fine-tuned the strategy for a better fit for my trading personality.
  
  
• What is your mental/psychological strength, and how did you develop it?
  The psychological obstacle is a major challenge for me, and I am still continuing to work on it and understand myself a little better each day. Reflection on my actions every day is one of the key tools to continue the battle. There is never a destination. It is a journey without a finishing line. We only stop if we make a decision not to carry on the journey or if we breathe our last breath.
  
  
• What was your strategy to successfully pass The5%ers’ First Level?
  Stick to the plan. Adjust according to market conditions. Manage risk, expectations, and emotions. If it is not working well for the day, walk away.
  
  
• How is trading for the5ers different from trading by yourself?
  Trading for the5ers provides a platform to constantly monitor my progress to keep me on my toes. Trading by myself gave more room for frivolous trades, and funding by myself is limiting.
  
  
• What would you recommend to someone who is just starting with us?
  Demo trade your strategy until you are sure of what you do. Try again if you fail. No one achieves success from day 1.
  
  
• Would you like to share anything else with us?
  You guys are great!

For more interviews from our professionally funded traders, visit The5ers site

 

[The5ers]

EURUSD broke and held below parity for the first time in 20 years. Fundamentally this has a lot of repercussions, but the technical charts are clear.

Where do you think it's heading next?

 

[The5ers]

From $25K to $125K Bootcamp Account in Less Than 2 Months.

Tine successfully passed and scaled up his Bootcamp account in less than two months. He is now trading the $125K funded account.

His next objective is to reach a 5% profit to scale up his account to $150K.

We spoke with Tine about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

 

[The5ers]

Weekly Forex Analysis Aug 29 – Sept 2, 2022

In today’s trading room, we discussed the large movement in the Dollar last Friday due to the Jackson Hole event. The dollar strengthens again after this event.

However, the other basket currencies tend to fight at the beginning of the week.

We also talked about US indices after the sell-off of Friday. We probably switched from a bearish to a neutral environment.

For more quality trading insight, follow us on Instagram, @the.5ers

We will go LIVE tomorrow @9:00 AM EDT on The5ers Youtube channel

 

[The5ers]

Weekly Forex Analysis Sept 5 - 9, 2022

In today’s trading room, we analyzed the charts for the upcoming week.

The DXY continued to push higher at this week's opening, and the EURUSD started trading below 1.00.

Ruben keeps sharing his vision and expectations about the market movements. The price may return to the mean after a long trendy movement.

Finally, there is an opportunity on the USDCAD after OPEC cut the supply of Oil, which pushed to 3% today.

We will go LIVE again tomorrow @9:00 AM EDT

 

[The5ers]

Trust The5ers process, as it's only meant for the trader's good. That’s Iddrisu’s Advice.​

Iddrisu A, 44 years old, From Ghana.

Iddrisu has just successfully passed our 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 Iddrisu about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

• Tell us a little bit about you.
  I am a man of many hats. Perhaps, that's because I am always keen to explore everything. However, I've worked in recent years as a business developer with my own business consultancy firm. My main role in this capacity has been to establish business relationships between foreign investors with African partners and everything else. But aside from this, I've always seen myself as a trader and have worked at this dream since 2012. I guess now. I'll say that my long-held dream and work are being aligned with the trader funding program to finally take off and realize my trader dream. I guess, after finally passing the5ers program, which I've attempted several times since the very early days of the5ers inception and learning along the way, I will finally transition into a full-time trader moving forward.

• How long have you been trading?
  I've been trading since March 2012, when I started with binary options and migrated to Forex trading in 2015. So it's been 10 years now.

• Briefly describe your Trading Plan and how it contributes to your success.
  My trading plan is called the P.E.E.E plan, i.e., Preparedness, Execution, Exit, and Evaluation. I first prepare myself mentally and physically for the trading day from the night before, ensuring that I carry no residual emotional issues from the past trading sessions, family issues, financial worries, and any other that will distract me mentally. So I come to each day's session, which begins in the morning, my GMT time, with no mental and physical cabbage. The execution and exits are my market analysis and trade entry part, which begins first by checking the day's economic calendar for any events that may affect my chosen trading instrument for the day.My entry criteria are based on an impulse move that breaks price structure and a retest at the S or D origin of the impulse move, a wait for a weak to strong transfer at this point, and a momentum injection signal to trigger my entry. My trade management and exits are based on price moving in favor of up to the size of my SL to move SL to BE, or price breaking a recent high or low to move my SL and then trailing the trade. I set targets either as a percentage of the account equity I want to gain, as a 1:3+ RR, as a target of a liquidity area, a pivot or S/R point, or whichever, based on the market conditions.I then evaluate my trades at the end of each trading day to see how much I followed my plan during the trading day and what I must change, etc.

• Please share with us a challenge you faced in your trading career and how you overcame it.
  I've experienced all the challenges a trader will have in trading all my trading life and have resolved them. However, what still remains for me to address is "Impatience" that cause me to enter trades prematurely and always overtrade. And I realized it stems from my wrong desire to reach targets quickly. This has wrecked more havoc on all my trading accounts than anything else, as I lose focus the moment I am just a step away from reaching the target. And after repeating this several times over the years, and 5X in this particular evaluation, during which I almost run the account down to the drawdown limit in a single day, I finally sat and wrote down exactly who I felt during this time and why and what I can do to address it which was to keep calm, discard the idea of quick results and just execute my trades as I know and have planned. And I believe that by passing this evaluation finally, what I've taken from it all is that I should adopt an "a little bit at a time" approach to my trading, and I'll do just fine henceforth.

• How did you adjust risk management to your trading personality?
  I managed risk not by the percentage of the account I lost but by not being the least affected by losses I took which were way too many, if I should admit it. I guess that's the most important thing, not to be affected by whatever loss, as in that case, I didn't lose the gut to continue trading or let myself fall off the cliff. However, I do acknowledge that I should add a loss percentage limit to ensure that I don't give back almost all of what I lose each time, as has always been the case with me.

• Describe a key moment in your trading career.
  A key moment for me so far is when I was able to detach myself from any amount of losses finally. I realized by this that I am now able to hold trades for bigger wins, able to take many small losses, and able to step right back into the game even after a very bad trading day.

• How long does it take for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
  My journey has been long and painful since 2012, so 10 solid years now. I realized it took me this long because I sabotaged myself all this while by continuing to implement bad practices in my trading. I identified and learned from many bad mistakes, but somehow I was never able to change and apply the right things as easily and quickly as I should have and hence this long period. But thankfully, even as I answer this survey, I realize that I've really come far, learned a lot, and I am finally ready to take off successfully and go far if I don't self-sabotage myself ever again.
  
  
• What is your mental/psychological strength, and how did you develop it?
  I guess after way too many failures in funded accounts attempts and trading losses, I've come to accept it as part of the whole game and now feel very comfortable with losing so much to the point that I've become non-resistant losses and detached from them.

• What was your strategy to successfully pass The5%ers’ First Level?
  My strategy was self believe without a shred of doubt that I've got all that it takes to succeed at it, even after many past failures. "Belief, Begin, Become" is my mantra. And a sheer big enthusiasm to become a fully funded trader no matter the challenges.

• How is trading for the5ers different from trading by yourself?
  With trading for the5ers, you are forced to do the right things, such as placing a stop loss in all trades to cut your losses and ensuring that you don't play around to hit your drawdown limit. I think the rules are like some angel standing right by you who whispers the right things to do to you. You only have to listen to it always, and you will do fine and surely succeed in the end.

• What would you recommend to someone who is just starting with us?
  I will tell anyone starting out to understand and trust the5ers process and follow it to the letter as it's only meant for the trader's own good. And also, be very patient and focus ONLY on the process.
  
  
• Would you like to share anything else with us?
  Yes, I want to thank the founders and staff of the5ers for being there all these years and giving people like me the hope to pursue our dreams of being full-time traders. For the immense change, you are making to the whole world in many ways. I never gave up because you continued to exist through your good business practice, and I look forward to growing with you to higher heights together. I can't express my thanks enough to all of you!

For more interviews from our professionally funded traders, visit The5ers.com.

 

[The5ers]

Weekly Forex Analysis Sept 12 - 16, 2022

In today’s trading room, we discussed last week's news from the ECB by hiking interest rates to fight inflation.

This gave some fresh air to European Indices and the Euro currency.

Also, Ukraine seems to be pushing Russian troops closer to their border and bringing positive expectations for the energy crisis complex to be ended sooner.

Finally, the recent CFTC reports, which indicate the net exposure of all institutional funds, showed strong short contracts in the SP500. This may bring interesting recovery into Indices if we refer historically from it.

We will go LIVE again tomorrow @9:00 AM EDT.

For more quality trading insight, follow us on Instagram, @the.5ers

 

[The5ers]

Weekly Forex Analysis Sept 19 - 23, 2022

In today’s trading room, we discussed the unexpected inflation numbers released last week. It led to the Dollar strengthening and the stock markets tumbling.

After that news, the market slowed down, as usual, after a huge volatility movement.

Also, Oil continued to drop around the $82 per barrel area. This can lead to an interesting opportunity on the USDCAD after these pairs had a long move up.

This week, we expect the FED to increase the increase rate by 0.75 points. But the market may already price it.

We will go LIVE again tomorrow @9:00 AM EDT.

For more quality trading insight, follow us on Instagram, @the.5ers

 

[The5ers]

Managing $960,000 With The5ers Prop Firm After Only 8 Days

Brandon R, 28 years old, from the United States.

Brandon is a Level 4 Funded Trader. He has successfully passed 3 levels with three different accounts. He is now managing $960,000.

His next mission is to reach a 10% profit to double his funds to $1,920,000.

We spoke with Brandon about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

• Tell us a little about you and How long you have been trading?
  Hello. I'm 28yrs old and from Chicago, IL. Originally was introduced to trading in 2016/2017 by people selling signals and holy grail systems. I quickly caught on that these people weren't actually successful and sought out a mentor to teach me.
  From there, I traded off and on, switching between signals and trying to "flip" my own accounts and always blowing them. After taking a step away from trading when I joined the military, I decided to come back to trading.
  I now had a steady income stream and could focus on long-term growth instead of getting rich quickly and quitting my Barista job. This helped my mindset, but I still had some psychological barriers to overcome when it came to managing real, large amounts of money. I have overcome those and now currently managing about 1 million with The5ers!

• Why, as an experience prop trader you choose The5ers?
  Well, definitely the fact you get money back and no time crunch to pass the trial. 30-day trials on demo accounts are designed to be lost. While I've made over 20% this month, doing that under outside pressure is a different psychological battle. One that most fail. The5ers don't do that and actually want traders to win.
  Also, The5ers broker is amazing. Execution is spot on, and no crazy slippage at entries. Also, a lot of brokers have crazy spread widening before news events and always say (it's our liquidity providers) when really, they are unregulated offshore brokers doing shady business. With The5ers, while trading the FOMC, I still had less than 1 pip spread.

• It's the second time you have reached a large account. What's your secret?
  Risk reward ratios really help. I use pretty tight stops aiming for 5-7 times my risk. So I can afford a few losers in a row. Also, I lock in profit pretty quickly, so usually, that tight stop goes to breakeven, so I'm running risk-free trades.

• Briefly describe how you prepare yourself for the trading day.
  You know, right now, I actually work full-time. In general, though, I stay up to date with my institutional analysis. I have access to research from the trading desks of some very large, common banks that most aren't privy to. I use that to give me a decent overall macro picture - which especially helps trading news.
  That edge dissipates the lower timeframe I trade, and I do a lot of trading on the 5min - 1hr chart. It's still a habit I'm growing in, but for those, I like to do a quick meditation before I open the charts, listen to my intuition first, then do some technical analysis in line with that.

• How did you adjust risk management with larger accounts?
  I will admit in the beginning stages. I push the tempo a bit, higher risk per trade, hoping to beat the target quickly. As I'm now trading a large account, though, there's a lot more on the line. While I consider myself a discretionary trader, I have set some rules now that I have just hit the 1 million mark.
  I'm only reentering trades that I've lost once, and if I have a breakeven trade or small winner that has moved 30-40 pips in my direction, I don't trade that pattern anymore.
  In the past, I often would reenter trades, trying to catch a trend, not wanting to miss out. On my last account, this led me into some pretty avoidable drawdown. I'm now becoming a little more patient and okay with missing that move and stepping away from the chart.
  Along with that - I'm not going to utilize my full leverage anymore. While I generally have a very high hit rate, even the best strategies will have bad periods. For that reason, I'm going to be trading the same lot sizes as my last account size and lower my exposure.

• What is your mental/psychological strength, and how did you develop it?
  Hypnotherapy! This may sound crazy to some, but I've become very mindful of my emotions by meditating. Impatience is an anxious reaction to seeing negative price action, fear of missing out, and sometimes fear of letting a good trade go bad. I worked on these things with a hypnotherapist, and I kid you not, I saw immediate benefits.

• What would you recommend to someone who is just starting with us?
  There are so many things. But I would say to get started. A demo account cannot replicate the psychology of trading real money. A $50k account is not equivalent to a $20k eval. Starting trading and start small but not your emotions; regrets about losers, not sticking to your strategy (if you are systematic) and taking profits early or have a strategy that worked in back-test and forward test and now it's not. You doubt it and change things.
  This is a mental game. You do not necessarily need hypnotherapy (though I recommend it) but constantly remind yourself that this game is about the process over the outcome. That mindset alone will help a lot. You will then become calmer in this environment, which can often make people boil over.

For more interviews from our professionally funded traders, visit The5ers.com.