Short-term trading can be a rollercoaster of emotions and challenges. This is especially true for forex traders navigating the fast-paced market.
In this episode, we dive deep into the most common struggles faced by these traders and uncover specific strategies to overcome them. And if you’re thinking about Prop Trading, this will show you how to get funded from an insider in the industry.
Learn how to manage burnout, stay motivated, and turn setbacks into breakthroughs. You’ll gain valuable insights that will help you master the mental game of trading and achieve long-term market success. Don’t miss this essential guide to transforming your trading journey.
We’re talking to Saul Lokier, a true heavyweight in the industry. He is the CEO of The 5ers, one of the most recognised Prop Trading firms in the world. You’re going to want to hear every word this man has to say, regardless of which timeframe you’re trading in the markets.
Definition
A proprietary (prop) trading firm uses its own money to trade in financial markets, aiming to make a profit from these trades. They hire traders, give them capital and resources, and share profits with them. Traders benefit from the firm’s capital and support while focusing on making successful trades.
Topics we discuss
Emotional Challenges:
- How can traders get funded to trade?
- What are some ‘insider secrets’ you can share with someone looking to excel in the markets?
- For people who don’t know about this, can you tell us a bit about Prop Trading, and the pros and cons of funded trading vs solo trading?
Psychological Support:
- What psychological support systems or resources does The5ers provide to help traders cope with the pressures of trading?
Motivation and Burnout:
- How do you help traders stay motivated during tough trading periods?
- What strategies do you recommend for preventing burnout?
Learning from Failures:
- How do you encourage traders to learn from their failures and setbacks?
Balancing Life and Trading:
- What advice do you give to traders for balancing their trading activities with personal life and relationships?
About Saul Lokier
Saul is the CEO of The5ers, founded in 2016. They are one of the leading reputable prop firms in the industry that 100% funds talented forex traders and provides them with the training and support they need to succeed.
The program has funded thousands of forex traders, who can trade up to $4M on their platform, and helped them consistently achieve their trading goals by improving their trading skills.
Saul is a forex trader with over 14 years of experience. He manages funds for international proprietary forex funds, as well as personal accounts. Currently, Saul oversees multiple accounts where he consistently generates positive returns.
Stay in touch with Saul
Linkedin: linkedin.com/in/saul-lokier-a60849210
Website: https://the5ers.com/
About Louise Bedford
Louise Bedford is a highly accomplished and experienced trader, educator, and author, with over 30 years of experience in the financial markets.
She is the co-founder of The Trading Game and is known for her unique approach to teaching trading psychology and market analysis.
Louise has authored several successful trading books, including Trading Secrets, Charting Secrets, and The Secret of Candlestick Charting.
Her recent 2024 release – Investing Psychology Secrets – is the hottest trading book right now!
Louise and her business partner, Chris Tate, run their hugely popular, repeat-for-free Mentor Program. This course provides simple techniques that you can implement straight away, and valuable resources to enhance your trading so you can maximise your profit potential.
To get in touch with Louise
Facebook: https://www.facebook.com/TradingGame/
Twitter: https://twitter.com/TheTradingGame
LinkedIn: https://linkedin.com/in/louise-bedford/
Youtube: https://www.youtube.com/tradinggame
TikTok: https://www.tiktok.com/@tradinggame.com.au
Instagram: https://www.instagram.com/tradinggame.com.au/
Photo by Adam Nowakowski on Unsplash
