Meet Cabbar Yükselay, a remarkable trader from Germany who recently achieved an impressive milestone by successfully passing The Trading Pit Forex Standard Challenge. During our recent interview, Cabbar graciously shared his inspiring journey, revealing the strategies and mindset that contributed to his remarkable success. Join us as we delve into the story of this exceptional trader and uncover the secrets behind his achievement.
1. Tell us a little bit about you.
Despite being retired, I find myself drawn to the exciting world of trading. It allows me to engage my mind and seek opportunities for a better life.
2. How long have you been trading?
I have been trading for a span of three years, honing my skills, and gaining valuable experience along the way.
3. What inspires you to pursue trading?
The pursuit of a better life serves as my inspiration to delve into trading. The potential to achieve financial freedom and create a comfortable future for myself and my loved ones fuels my drive.
4. Do you have a trading plan in place, and do you follow it strictly? Briefly describe your Trading Plan.
Absolutely, I have a well-defined trading plan in place. It acts as my guiding light, helping me make informed decisions and navigate the volatile market with confidence. I follow my plan diligently, which involves meticulous analysis, risk management, and a focus on consistent growth.
5. What was your strategy to successfully pass The Trading Pit Challenge?
To successfully pass The Trading Pit Challenge, I relied on a breakout strategy. By identifying key levels and entering trades when price breaks out of those levels, I was able to capitalize on significant market moves and achieve the desired outcome.
6. How would you rate your experience with The Trading Pit?
My experience with The Trading Pit has been highly enjoyable. The platform provides a conducive environment for growth and learning, and the support from the team has been exceptional.
7. Why did you choose The Trading Pit and not another prop firm?
Initially, I was unaware of Trading Pit, but it was brought to my attention by my daughter. She informed me about the firm and even provided me with a discount code. This prompted me to explore The Trading Pit, and I haven't looked back since.
8. What would you like to say to other traders attempting The Trading Pit Challenge?
To fellow traders taking on The Trading Pit Challenge, I would emphasize the importance of discipline and remaining emotionless. Stick to your trading plan, manage risks effectively, and maintain a calm and rational mindset even during turbulent market conditions.
9. Describe your best trade.
To me, every trade hold value and provides an opportunity for growth. While wins confirm that I am on the right track, losses serve as valuable lessons that contribute to my overall development as a trader. Embracing both the wins and losses, I continue to refine my approach and strive for consistent success.
10. What is the number one advice you would give to a new trader?
My number one advice to new traders would be to exercise caution and avoid using large lot sizes in the beginning. It's crucial to start with smaller positions to manage risk effectively and gain experience gradually.
11. How does your risk management plan look like?
My risk management plan follows a disciplined approach. I allocate approximately 80% of my capital to trades, ensuring that each trade represents a maximum of one-third of my overall risk exposure. This helps me maintain a balanced and controlled risk profile.
12. What would you recommend to someone who is just starting with us?
To those who are just starting with The Trading Pit, I would say that if you truly desire success in trading, you can achieve it. Stay committed, be willing to learn, and embrace the challenges that come your way. With dedication and perseverance, you can make significant progress.
13. Share online resources that were/are significant in your trading development. Name and links are appreciated.
I have primarily relied on practical trading experiences rather than specific online resources for my three-year trading journey. While there are valuable online materials available, I found that hands-on learning and real-time market analysis were most beneficial for my growth. I encourage traders to explore resources that align with their style, complementing their development.
14. What made you trust The Trading Pit for your trading career?
The fact that The Trading Pit is based in Liechtenstein played a role in instilling trust and confidence in me. The country's reputation for financial stability and strong regulatory framework gave me the assurance that The Trading Pit operates with integrity and adheres to high standards. This, coupled with positive recommendations from my daughter, influenced my decision to choose The Trading Pit as the platform to pursue my trading career.
