The5ers Educational Center

[The5ers]

Weekly Forex Analysis Oct 3 - 7, 2022

In today’s trading room, we discussed the volatile movement of last week in the USD pairs and especially on the GBPUSD.

The GBPUSD has marked a historical low after the announcement of huge tax cuts funded. The GBP has been supported by the BOE and pushed the price 7% up already from its low.

The US markets are still very weak, and we can expect a new low after the continuation of the inflation and recession period.

Finally, Oil has bounced at the beginning of the week after OPEC cut supply, which led the CAD to appreciate.

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

 

[The5ers]

$49,186.33 profit payout with The5ers.

Hugo is one of our veteran traders, and he has been trading with us for 18 months.

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

Watch The Interview With Hugo

 

[The5ers]

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.

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

 

[The5ers]

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.

• 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.
  2) Seriously limit your risks.
  3) Do not rush your trading – you have a lot of time with the5ers.

• 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.

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

 

[The5ers]

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.

 

[The5ers]

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.

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

 

[Jotase]

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.

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

There are other good prop firms than this 5ers.

 

[The5ers]

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.

For more information about the traders day live event, go to tradersday.live

 

[The5ers]

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.

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

 

[The5ers]

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.

For more information about the traders day live event, go to tradersday.live

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

 

[The5ers]

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.

• 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.

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

 

[The5ers]

​

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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.

• 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.

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

 

[The5ers]

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.

For more information about the traders day live event, go to tradersday.live

We will go LIVE tomorrow @9:00 AM ET on The5ers YouTube channel

 

[The5ers]

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.

For more information about the largest traders event in 2023, go to tradersday.live

We will go LIVE tomorrow @9:00 AM ET on The5ers YouTube channel

 

[The5ers]

Weekly Forex Forcast Jan 23 – Jan 27, 2023

In today's session, we tried AI21, a similar program to chatGPT, to help us build a forecast for the upcoming week.

We also discuss how the markets are switching into a ranging market. Trends have slowed down.

Our bias on USD/JPY is still bearish, and gold is still bullish, but waiting for a pullback before buying.

For more information about the largest traders event in 2023, go to tradersday.live

We will go LIVE tomorrow @9:00 AM ET on The5ers YouTube channel

 

[The5ers]

Yiannis successfully passed and scaled up his Bootcamp account. 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 Yiannis about his trading plan, insights, and lessons gained while trading in the Forex market and our platform as a funded trader.

Dont miss the biggest event in 2023, which will take place in the UK. It’s going to be the largest educational meet-up trading event in Europe! For more information, visit tradersday.live

 

[The5ers]

Weekly Forex Forecast Feb 6 - 10, 2023

In today's trading room, we covered the difference between scalp and swing according to market behavior and not according to time.

We see how last week's announcements created new demand and supply areas. That dictates the bias for this week's activity.

The USD seems stronger across the board, especially JPY and Euro.

For more information about the largest traders event in 2023, go to tradersday.live

We will go LIVE tomorrow @9:00 AM ET on The5ers YouTube channel

 

[The5ers]

Caleb has successfully passed our PM 2 instant funding program and is now one of The5ers PM 2 funded traders, trading on a $160K low-risk account.

His next mission is to reach 10% of profit and double his funds to $320K.

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

Dont miss the biggest trading event in 2023, which will take place in the UK. It’s going to be the largest educational meet-up in Europe: For more information, visit tradersday.live

 

[The5ers]

Weekly Forex Forecast Feb 13 - 17, 2023

In today's trading room, we established our bias on JPYUSD bullish, euro, and pound neutral.

We explained two ways to approach breakouts, the break or the retest.

We expect CPI in US and UK to affect the market this week.

For more information about the largest traders event in 2023, go to tradersday.live

We will go LIVE tomorrow @9:00 AM ET on The5ers YouTube channel

 

[The5ers]

The Bootcamp Increased My Confidence and Discipline in Trading

Variya K, 35 years old, From Thailand.

Variya has just successfully passed the Bootcamp challenge. She is now one of The5ers funded traders and is trading a $100K funded account.

Her next objective is to reach a 5% profit to scale up her account.

We spoke with Variya about her 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.
  My name is Variya Katewongsa. I am from Thailand but living now in France for my professional career. I love trading and started Forex trading around two years ago. I usually share my trading plan, technical analysis, and trading strategy there.Two years ago, I started on it with gold trading as major pair. Then learn to know that there are some proprietary firms in the market, funding qualifying traders with a significant amount of funds. So I stop my personal portfolio trading and focused only on passing the firm’s evaluation.It was difficult during the first year. All things that I have learned and understood were improper for sustainable and risk management trading. It is more like a bet. I spent the year after learning and overcoming all my trading knowledge and behavior, including start growing my technical analysis knowledge. I was just passing Chartered Market Technician Program level I (CMT level I) beginning of this year. It is a program to learn about technical analysis organized by the CMT association. Anyhow, it is just to improve my own technical analysis knowledge. My main career is nothing linked to this trading or finance activity. Trading is my part-time hobby which I will do for the whole of my life.
• How long have you been trading?
  I began my FX trading in January 2020. However, I personally invest in other markets as a value investor and am interested in the investment. So, for trading in FX and the oversea market, let’s say that it is now 2 years exactly since I started trading.
• Briefly describe your Trading Plan and how it contributes to your success.
  There will be several factors for my trading plan.1. Start Analysis with a Macroeconomics view and Money flow.
  It is important that we understand how the world and economic policy circumstance is. For example, FED Interest rate decisions and inflation, how it will impact to USD index, overall indexes, FX currency, and other commodities. Then play along with that policy. As said, don’t fight the FED! It is always the first hint to take a look at the analysis.2. Technical Analysis
  I have developed my quantitative analysis method into a trading view. Despite it, is several indicators. But I use them all! I have more confidence in judging the situation by using numbers and quantitative analysis conditions with a multi-timeframe. Here are the following key factors.- Trend Analysis
• Momentum Analysis
• Price Range Analysis
• ConfirmationAll the above, I usually confirm with several numbers and create my trading scenarios according to the situation. Most of the time, it will be trend following strategy as the trend is a friend. But sometimes, I also decide to be a contrarian or momentum trader If I see that there should be some available opportunity for that trade. But let’s assume that 70-80% of my trading is likely to trend in the following strategy.Another important thing is we need to plan,
• how many pairs are we going to trade or focus on?
• How many lot sizes we can place per pair.
• What if we have 1 trade? What is going to be the lot size versus we have 4 trades?
• What is the risk per trade we are going to use?
• Is that trade a good quality or just normal quality trade?This is the basic thing that I need to calculate and plan before placing any order aside from technical analysis.Using the Daily Average True Range for risk management is key for my trading plan. Every trade needs to calculate carefully to ensure that we won’t have too much risk of violating our balance. This is a key contribute to success on top of the other analysis.Always think about risk management first before thinking about profit.
• Share with us a challenge you faced in your trading career and how you overcame it?
  As I am working as other professional fulltime job. To do it together with trading, I really need to manage my time properly then I can focus and do my best at both things. Previously I was so addicted to trading and traded almost all of the time. This can lead to the wrong decision when you are trading in the condition that you are not ready. I spent one year changing my trading behavior to have better focus.I trade just only when the price reaches the zone that I did the trading plan, which is usually in H1 - H4 timeframe. In case I am busy at work or not available, I won’t do any trading or watch the chart. What I have to do is just control myself to trade based on the plan. Just plan the trade and trade the plan. And work-life balance is also necessary.I was also wondering about the real basic of technical analysis. Did I really understand all the technical correctly? Then I put myself enrolled CMT program and spent 6 months of basic technical analysis study last year to enhance my technical analysis knowledge. At least I have learned basic technical analysis, not just only one trading system. I also attend several webinars to strengthen my knowledge. Using the one that I learn from the class to apply in my trading strategy is the key to success.Do not stop yourself from learning new things. Be always the empty glass to fill new knowledge.
• How did you adjust risk management to your trading personality?
  I am always using Average True Range in a Daily timeframe to calculate the stop loss point. Sometimes it is 100% of the ATR Daily range, and sometimes it is 75% or 50%. My stop loss is always based on this system, and I use daily timeframe and master timeframe to manage the risk. I am not a fan of the high Risk to Reward Ratio. According to ATR Strategy, I will calculate lot size and risk per trade accordingly to avoid losing more than what we can accept. It is from 0.5% - 1.5% of the account initial balance per total trade.
• Describe a key moment in your trading career.
  When I realized that the current behavior and situation that I was facing were not good for sustainability in long-term trading, I lost a lot of money, and I applied for several proprietary fund programs but failed. I stopped trading for a while and stepped back. Studying with the right knowledge and approach, adapting good trading manners, and eliminating bad behavior like overtrading, trading with emotion, or trade when the situation is complicated. Try not to focus on the money but on risk management. It was a hard time because several times I fell into the same trap. But I try to reinforce my change that if I really need to survive in trading, I MUST change. So, I believe this is the key moment of my trading career.
• How long it took for you to become a consistent trader, and what aspects did you change that helped you to become consistent?
  2 years until I can stabilize my trading style. As explained above, I force myself that if I want to become a sustainable trader, I need to change myself.
• What is your mental/psychological strength, and how did you develop it?
  Stop trading addiction, keep calm, accept the loss, and move on.I think the key to developing psychology is to learn from your mistake. Understand what the root cause is and why it happens. Then reinforce yourself to avoid making the same mistake. It is hard, but you really need time to overcome it.Forgive yourself if you just do something wrong and believe that tomorrow you will be a much better version.
• What was your strategy to successfully pass The5ers’ First Level?
  This round, I trade only gold and approximately 15 trades in total for 3 challenges.Think first about the risk, but not the profit. Bear in mind that there will always be the opportunity to trade. If I miss it, I just wait for the next setup. Sometimes I am so eager to maximize RRR, but it won’t always work. I found that trading with less RRR and mainly focusing on Risk management (Using ATR as explained before) is a suitable strategy to pass the Bootcamp challenge.
• How is trading for The5ers different from trading by yourself?
  You need to understand several things and plan the trade in a very consistent way. While trading by myself might have more flexibility than The5ers. In addition, The5ers also provides the opportunity of growing the portfolio according to the trader’s performance rapidly.
• What would you recommend to someone who is just starting with us?
  Think about the risk before profit. Take your time on the evaluation. And be very careful with each trading plan. Think before you place an order.
• Would you like to share anything else with us?
  Thank you so much for having such a great program like Bootcamp! It is really a “Behavior Changing” Program, which brings me to have more confidence and discipline in trading.

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