Welcome to another exciting success story from The Trading Pit! Today, we have the pleasure of interviewing Tobias Käser, a talented trader from Germany who recently passed the Futures Executive Challenge. Tobias graciously sat down with us to share his journey and insights, so let's dive right in!
1. Tell us a little bit about you.
I'm Tobias Käser, born and raised in Munich, where I currently live and work as a sports and economics teacher in a middle school. I'm a proud single parent to my amazing seven-year-old son.
2. How long have you been trading?
My first contact with trading was at the beginning of 2020 on the platform Binance, where I started trading BTC and some Alts.
3. What inspires you to pursue trading?
In 2018, I became fascinated with the financial market. Although I had some awareness of it, I had yet to explore it deeply. I realised I didn't know much about it, which intrigued me. The most inspiring aspect was the potential to make a living from trading. I decided to dive in and learn more about it, especially since it wasn't covered in school or by the people around me.
4. Do you have a trading plan in place and follow it strictly? Briefly describe your Trading Plan.
I have a trading plan I've developed over time, and as I gain more experience, I follow it more strictly. My trading plan incorporates Market Profile, Support/Resistance levels, and confirmation signals. I adapt my trading style based on my physical and mental condition and general market conditions.
5. What was your strategy to successfully pass The Trading Pit Challenge?
My strategy was to focus on trading during the morning hours, between 9 am and 12 pm. I strictly adhered to my trading rules, such as letting winning trades run and cutting losses quickly.
6. How would you rate your experience with The Trading Pit?
My experience with The Trading Pit was excellent. The trading conditions are very fair, and they provided me with valuable knowledge through high-quality educational materials and courses that covered a wide range of trading topics. The content was presented clearly, allowing me to understand and apply complex concepts to my trading strategies easily.
7. Why did you choose The Trading Pit over another prop firm?
I chose The Trading Pit because it was recommended to me by Oliver Klemm, a partner of The Trading Pit. After joining several webinars and exploring the platform, I thought it was the right fit.
8. What would you like to say to other traders attempting The Trading Pit Challenge?
My advice to fellow traders attempting The Trading Pit Challenge is to create a comprehensive plan for trade entry and exit and risk and money management.
9. Describe your best trade.
I observed a significant market resistance that led to a reversal. As the market formed a shoulder and a head pattern, I quickly recognised the potential for a Head and Shoulders (SHS) pattern. Seizing the opportunity, I entered the trade at the top of the second shoulder, where the highest green candle was open. To manage risk, I placed my stop loss above the head of the pattern.
Once the market broke below the neckline, I adjusted my stop loss to a level that was 5+ or 10+ points away. The trade unfolded favourably, resulting in a successful outcome.
10. What is the number one advice you would give to a new trader?
My number one piece of advice for new traders is to invest in their trading education. The knowledge and skills you acquire through education are invaluable assets that cannot be taken away.
11. How does your risk management plan look like?
My risk management plan employs a minimum 1:2 risk-reward ratio, ensuring careful market and market structure evaluation. The stop loss (SL) is determined based on the ATR 5 multiplied by 1.5. For instance, if the ATR 5 is 12, the SL is set at 18, signifying that a trade is viable only if the expected reward is at least 36. Additionally, the number of lots traded is contingent upon factors such as the daily drawdown limit, account balance, and physical and mental condition, providing a personalized approach to risk management.
12. What would you recommend to someone just starting with us?
To those who are just starting with The Trading Pit, I recommend being patient and getting familiar with the trading software. Familiarity and confidence in using the platform are key to success.
13. Share online resources that were/are significant in your trading development. Names and links are appreciated.
Some online resources contributing to my trading development include the Investing.com Economic Calendar (https://de.investing.com/economic-calendar/) and the Ninja Trader Software with Market Profile Data and VWAP.
14. What made you trust The Trading Pit for your trading career?
The main reason I chose The Trading Pit was the recommendation from Oliver Klemm. Additionally, participating in several webinars and exploring the platform convinced me that it was the right fit for me.
