Marin’s The5ers $5K Funded Account

[Marin Stoyanov]

Hello traders,

I open this topic to share my experience and journey with the funded account I received from The5ers. You can read my other post about the system I followed to pass the 2-step High Stakes evaluation using EAs from the Prop Firm Robots app.

TLDR: I use the robots to open trades and some trades I close manually, while other times I leave the robot to close the position. On top of this, I adopt my trading based on the market sentiment and my own common sense, and last but not least – based on my goal (more on that in the next few lines). So I would say my system is use Robots + Market Knowledge + Common Sense to get the job done.

Here’s the track record from my 5k funded account. So far it goes quite well and I’m more than half way through. The profit target is 10% to be eligible for a payout.

I’m not the type of a person who sets unrealistic expectations when it comes to investing or trading as I find all those unpredictable. What I do is to set goals and look for ways to accomplish them. So my major goal was to get funded and make some passive income. I don’t have problems spending more time on this. I don’t believe in the get-rich-quick. And the most popular rich people didn’t get rich in a day or two. And why should I rush when most prop trading firms removed the time constraints to pass a challenge?

So I asked my self  “what I need to do to achieve my goal”. And the answer for me is that I need to make steady profits every day, no matter if they are big or small. If I have a loosing day, I don’t rush to recover by increasing lots or etc. if in general my trading goes well. If if doesn’t, I just stop trading for a few days, but still observe the market and have EAs in my demo accounts to have a deeper insight of the market sentiment.

How do I use the robots?

The beauty of using the Prop Firm Robots is that they will open a trade when they receive confirmation from the underlying indicators. There is an actual strategy behind each robot. If I had to do this automatically, I would have to spend months to learn all the indicators, all the patterns and etc. The robots take control of this instead of me and I just need to wait for them to close positions or close them when I feel comfortable.

The EAs can close the positions automatically as well, but I found for my self that I feel better if I close some trades manually and see the profits immediately in my account. As I mentioned above – my goal is to get funded and to do so I need to make profits, and I’m not in a rush. So why not closing a trade when it was on a profit, even half way from the set TP?

Market Knowledge

As for the selection, usually I pick the top 2-3 EAs from the Prop Firm Robots app, and I avoid the crypto pairs. They are too volatile and I don’t have trust in them. Also spreads and commissions are higher in most cases. When I make the selection, I try to have a more diverse account – if the 1st and 2nd EAs are for EURJPY I might not use both of them because if market goes against my pair, I will have double loss. What I do is to pick diverse pairs and not follow strict rules. I look at the 1M charts in most cases, and I double check the strategies performance in the 1W. Also I look for strategies that were created more than a week ago and still show profits in the app – this is a good sign for a strategy if it is showing profits with real data after it was created. Also I look at the count of trades for the last 7 days and for the last 1 month to have an idea of the activity of each trading strategy.

Common Sense (or Experience)

Last but not least, as part of my system I should mention the common sense (or you can think of this as the outcome of your experience). In my case, It took me 29 days to pass the 1st step of the evaluation and 33 days to pass the 2nd step. And in the funded account the profit target is higher. So it’s quite obvious for me that I might be trading for around a month to reach the profit target. Now, here comes the math. For the $5k account the profit target is 10% which is $500. Now I divide this target by the number of days needed and it looks that I must make at least $17 per day to get funded within the realistic time frame. Again, why not closing a trade when it made $20 profit and brings me closer to the end goal?

Finally, I want to mention that I have the MT5 mobile app installed on my phone and added my challenge account so I can keep an eye on it. This helps me to close trades much quicker if I have to do it.

This is my system in brief. I’d love to hear your thoughts on how do you manage your EAs.

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