Hey OFP Nation! Today, it is our pleasure to highlight Kandel, a successful trader at OFP. Kandel began his trading journey over a year ago, starting part-time while balancing his work in IT. Originally from Nepal, he currently resides in Japan and discovered the world of trading out of a desire to improve his financial situation. After experimenting with other platforms like My Forex Funds and FTMO, he found OFP, which offered a more favorable environment with better returns and no challenges to pass to get funded.
As a fully funded member of OFP since August 7th, Kandel manages three accounts—two with $25,000 and one with $50,000. He has demonstrated impressive risk management, achieving positive returns consistently. Reflecting on his experience with OFP, he appreciates the company’s focus on trader autonomy and its commitment to reducing the obstacles commonly faced in the industry.
Kandel’s trading strategy primarily revolves around scalping, with a keen focus on the five-minute time frame. One notable trade involved gold, where he successfully identified a failure to break the 1711 resistance level. Recognizing a solid bearish candle, he entered a short position with a stop-loss above 1713. His strategy paid off as the price dipped to 1701, netting him a solid profit of nearly 100 pips.
However, not every trade has been a success. Kandel shared his experience with a challenging trade that followed the same resistance level. After witnessing wick rejections and multiple bearish candles, he felt confident in another short position. Unfortunately, a sudden bullish candle broke above the resistance, resulting in a loss.
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Through these experiences, Kandel has learned to manage his emotions better. Initially prone to revenge trading after a loss, he has come to recognize the importance of patience and waiting for better entry points. He emphasizes that understanding technical analysis is key to his approach, relying heavily on support and resistance levels while staying informed about economic news.
Kandel’s trading day-to-day is primarily focused on the London and New York sessions, having moved away from the Tokyo session due to its low volume and volatility. This shift has positively impacted his profitability, allowing him to find better trade opportunities.
As he looks to the future, Kandel aspires to become a full-time trader, hoping to improve his trading strategy and skills further. He aims to keep a detailed journal of his trades to track progress and learn from his mistakes. His advice to newer traders echoes a mantra of patience and continuous learning, emphasizing that the journey to profitability is a gradual process.
In closing, Kandel remains optimistic about his trading journey, grateful for the opportunities provided by OFP. He believes that with persistence and dedication, he will achieve his goal of trading full-time and exploring the freedom it offers.
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