Funded Trader Earns 50K Account
“I’m a very patient person, but trading made me even more patient. I would see traders trying to predict the market, but you can’t predict the market. You just have to let the market come to you.” – Laponce
Funded Trader Earns 50k Account: This week we take a look at Laponce, one of our newly minted Funded Traders who has just earned his $50k account! He shares not only his trading journey, but principles on risk management, psychology, and a look into his strategy.
How did you start in Forex?
Starting 7 years ago, I was graduating from college, but I didn’t know what I wanted to do with a job or for the rest of my life. I had a strong background in mathematics. I saw a documentary about trading, so I decided to dig in and do my research on it.
There were a lot of different terms that were being thrown around that are used in math. I know what this means, I know what a standard deviation is, and so I took a nose-dive into it.
First I found binary options were, and then forex. I heard people talking about pips, and I knew then that I didn’t want to do stocks. The Stock Market is an old man’s game. One amazon stock and you’re out of capital, you’re buying crumbs at that point.
Forex came out of nowhere, and 7 years later I am here now.
What do you think of the Funded Trader community and TFT overall?
It cut everything in half. What else do you want? It’s like, do you want $5 or do you want $10? I will take my $10, thank you very much. I finally came to the final stage of prop firms. I’m going to go with you guys!
How much time do you dedicate to backtesting?
On weekends, I backtest like crazy. I would probably say like 3-4 hours on Saturday & Sunday. On weekdays, even if I’m not on my computer, I’m looking at my phone. Even during the interview, I’m not looking at the charts, but once we finish I will go back and look at the charts!
Is there anything you wish you did differently?
I wish I would have learned earlier. I wish I found out right out of high school as I may have opted not to go to college in the first place. That’s probably the only thing I would change. The earlier the better.
What would you tell someone looking to get funded with TFT?
First of all, have some type of strict rule strategy. Stick to your rules, and make sure you are consistent first. You don’t want to go into a challenge with lackluster performance. Go on demo, get your mind right, and once you are ready, tackle the challenge because it will be the perfect place for you.
Do you find yourself setting alerts, or are you sitting in front of the charts?
I set times for myself to focus on the charts. 6 o clock, 12, I set times for myself. That’s the whole point of trading. Get in, get out, and enjoy your life. That’s what motivated me the most as you can take something small and make it big in this market. This is where I want to be.
What is a hard lesson that trading has taught you?
Patience and confidence. Being patient, as for myself, I’m a very patient person, but trading made me even more patient. I would see traders trying to predict the market, but you can’t predict the market.
You just have to let the market come to you, and whatever the market makes in terms of patterns and entries, that is what you go with. You’re not the predictor, you don’t create the market.
The second lesson is being confident in what I’m looking for. I used to get nervous and get butterflies every time I would place a trade.
When you take a few losses, what helps you come back from that?
I completely stop trading for that day. If I lose, I will get you back tomorrow. If I lose, that’s just it. If I lose, I just take it on the chin and accept it.
I will come back from it one way or another. Inversely, if I’m up for the week I stop, too. I just think about it this way. If I’m up for the day, what some people make in a whole month, I’m good, I will stop.
How many times have you blown an account?
I want to say at least 200 accounts. Especially in the early days, but at the end of the day, I’m here now and have found success. Nobody can take that away from me.
What would you say your trading style is?
I’m more of a day trader. I get in and get out in a day. I know there are a ton of good traders that swing trade, but I can’t. I’m patient, but a little impatient.
What are some of your favorite pairs to trade?
I don’t have favorites. I’m most likely looking at more major pairs. I go through, looking at the charts like, “who has my setup?” I don’t play favorites. You play favorites, you don’t get what you’re looking for. You have to be diverse.
Do you use any Fundamentals or focus on Technical Analysis?
I focus on structure, double tops, bottoms, etc. I’m not interested in what the news is saying, I don’t pay much attention to the news. The only thing I check in with is NFP and FOMC.
What do you believe The Funded Trader will do for this industry and beyond?
As more people find out what Forex is, not having sufficient funds, they can put their money towards something that can reward them big. I think the forex industry is here to stay as there are 7 trillion dollars per day, so prop firms are in the best capitalize on and truly help these people coming in. My goal with TFT is to get maximum funding and scale up as much as possible!
Funded Trader Earns 50K Account and you can too….