Meet Phan Trung Hieu, a successful trader from Vietnam who recently completed The Trading Pit’s Forex VIP Challenge in a record-breaking 13 days. With his impressive trading skills, Hieu quickly advanced to the Scaling Plan and received his first payout of 8,450 Euros in just 5 days. Now at Level 2 and continuing to excel, Hieu shares his trading strategies and experiences with The Trading Pit team in this inspiring success story.
1. Tell us a little bit about you.
My name is Hieu, and I am 32 years old. After graduating from university with a degree in finance, I pursued my career in trading, eager to learn and grow in the industry. Through hard work, perseverance, and passion for trading, I progressed and became a skilled trader.
2. How long have you been trading?
I have been actively trading for 10 years. During my journey, I have developed a deep understanding of the financial markets, learned from successes and failures, and built a solid foundation of knowledge and experience. In addition, numerous challenges have pushed me to develop an effective risk management strategy to generate positive returns.
3. What inspires you to pursue trading?
I think it’s fate. My passion for trading has gone beyond just a career or a means to earn a living. Instead, trading has become my calling, an almost spiritual pursuit that drives me to push the boundaries and strive for success even when the odds seem against me.
4. Do you have a trading plan in place and follow it strictly? Briefly describe your Trading Plan
As a trader, I follow a clear set of rules and discipline that involves strict risk management to limit potential losses and protect my trading capital. This includes setting stop-loss orders, position sizing, and fundamental analysis for optimal results.
5. What was your strategy to successfully pass The Trading Pit Challenge?
The strategy I used to pass the Trading Pit Challenge successfully was trading in high volatility, which involved identifying assets with high price fluctuations, which offered me higher trading potential. I also followed trend trading and maximised profitability by placing a low stop loss to limit my risk.
6. How would you rate your experience with The Trading Pit?
Excellent. The access to cutting-edge technology and advanced trading tools gave me an edge in the market, which further contributed to my excitement to succeed.
7. Why you chose The Trading Pit and not another prop firm?
What won me over was The Trading Pit’s trustworthy and reliable trading environment. The company’s emphasis on transparency, support, and resources made it an easy choice over other prop trading firms I had in mind.
8. What would you like to say to other traders attempting The Trading Pit Challenge?
I encourage other traders attempting The Trading Pit Challenge to remain disciplined, stay focused, and take advantage of the educational support and resources offered by The Trading Pit. Good Luck!
9. Describe your best trade.
I execute my best trades in high volatility, carefully analysing the market conditions and choosing the right direction. My trading decision usually involves conducting technical and fundamental analysis and closely monitoring market news and events that could impact the market's direction.
10. What is the number one advice you would give to a new trader?
Enjoy yourself and stay motivated. Finally, and most importantly, spend a lot of time trading to form a good understanding of the markets and trading strategies to succeed. Also, try to enjoy yourself and stay motivated.
11. What does your risk management plan look like?
I include stop-loss orders in my trading plan. This risk management practice helps me control my trading more efficiently and minimise potential losses.
12. What would you recommend to someone just starting with us?
You are fortunate to be working with The Trading Pit since they provide a supportive community of traders who can offer insights, advice, and support. Take advantage of this opportunity!
13. Share online resources that were/are significant in your trading development. Names and links are appreciated.
Forexfactory.com. The website has a wide range of resources that helped me in my trading development, which included real-time quotes, charts, news updates, economic calendars, and discussion forums.
14. What made you trust The Trading Pit for your trading career?
The overall commitment and support I received from The Trading Pit community to help me succeed built my trust over time. I now feel that I was destined to join them.
Performance Report
