Meet Waranyu Rungcharassaeng, one of the greatest performers of the funded trader program who has now progressed into trading a fully funded $50K account. His trading was inspired by NNFX which helped him succeed in his journey with CTI during the Forex Funded Trader Program.
As many retail traders, he had his ups and downs; however, what made his different is his professional mindset and approach to trading the forex funded account. Check out his website here.
Regarding those traits shared by the best traders, Waranyu outlines them in more detail, but they cannot be stressed enough:
1) Risk management: we preach it till the cows come home. We keep saying it, he says it, all the best say it. There must be a reason, right?
2) Backtesting is amazing to see how you would have done in the past. But as some point you need to make the leap and forward test and test your strategy in live markets to see if it really works. You'll need to pull the trigger, so to speak, at some point.
3) Psychology management, I coined this term myself on the fly! Waranyu has his method, CTI have their methods, Soros Capital Management have their methods, as do Bridgewater, I'm sure many prop firms do too— the point is you must find take care of your mind. Your trading psychology, your psychology is important. You're human. (Even bots need care too hence all these complex set ups to take care of them!) A common theme with those who pass the funded trader program: good psychology — food for thought! : )
4) Persistence and brains. Okay, maybe, I cheated a little and this is 5. But you need to be persistent and not give up. But I demonstrated #5 here, work smart not hard. You want to optimise your processes, especially when you're using in the funded trader program. You'll see elements in Waranyu's story that “hard work” doesn't mean working hard for the sake of working hard, it also means working smart.
We have interviewed Waranyu to shares his experience with his fellow traders and give them some insights on how it's like to pass the funded trader evaluation.
Without further ado here is Waranyu's interview: