5 months of dedicated hard work!

TL;DR

1. Finally, pass the5ers Trading Challenge after 5 months of trading.
2. I only use my mechanical trading strategy.
3. 5k Challenges, 10% profit target, Account 2x for every milestone hit!

Disclaimer: I am not a financial advisor. The content for this article is purely for educational/research purposes only and is merely based on my personal opinions.

Please note: There will be affiliate links in this article. But it will only benefit both of us. If you do not wish to participate under my affiliate links, please feel free to Google them separately. Cheers!

Completing a prop firm challenge demands more than just a profitable strategy — it involves mastering factors such as risk management and consistency. While aiming to pass these challenges, my primary goal was to test the viability of my mechanical trading strategy over the long term. I wanted to ascertain if this strategy could consistently yield profits and withstand the rigours of real-world trading conditions.

Failing FTMO challenges… Twice!

Upon joining FTMO earlier this year to assess my mechanical trading strategy, I overlooked the existence of a crucial one-month time constraint to achieve a 10% profit target. Despite yielding a 5% profit by the end of the month, I unfortunately fell short of meeting the specified challenge requirement.

Unaware of the true profitability of my mechanical strategy initially, I diligently refined it, repeatedly tweaking and enhancing its elements until my backtesting indicated a capacity to achieve a 10% profit within a month. However, upon execution, this revised strategy proved to be notably high-risk, and unbeknownst to me, employing a mean reversion strategy resulted in greater losses. Unfortunately, this misstep led to another failed attempt at an FTMO challenge.

Introducing the5ers prop firm

It dawned on me that the combination of the mean reversion strategy and the stringent 1-month time constraint were the primary impediments preventing my success in becoming a profitable prop firm trader.

During my exploration for alternatives to FTMO, I discovered the5ers prop firm, which offers the advantage of unlimited trading duration. This flexibility implies that I can take a more extended period for trading activities. As long as I achieve the 10% profit target, I can complete their challenge and progress to become one of their fully funded traders.

Benefits of the5ers

Besides the requirement of achieving a 10% profit target and limiting losses to a maximum of 6%, the high entry cost of $260, and considering other available options, I made the decision to join the5ers primarily because of their unique offering of unlimited trading duration — an advantage not yet implemented by other prop firms. Additionally, the5ers provide traders with the opportunity to access up to $4 million in funding, nearly double the amount offered by FTMO, further solidifying my choice to opt for their platform. These benefits alone are enough for allow every beginner trader to step into the world of prop trading.

Downside

Nevertheless, the5ers also has its drawbacks. Initially, upon passing the first level challenge, the profit won’t be released immediately. Only upon progressing to level 2 can one apply to withdraw the profits earned in conjunction with the profits from the level 2 funding. This setup means a delay in accessing the profits until advancing to the subsequent stage of the challenge.

Furthermore, there have been instances where the5ers website experiences slower loading times, causing lag and unresponsiveness. Occasionally, I’ve had to refresh the page multiple times before it eventually loads, which can be an inconvenience when navigating the platform.

Challenge Details

I joined Instant Funding, which has since been renamed to HYPER GROWTH PROGRAM. Here are the details;

10K Instant Funding (Level 2) to $ 4 million (Level 10).

5k Challenge stage (Level 1)— passing this stage to reach 10K account

Evaluation Target — 10%

Stop Out Level ( Max Loss) — 6%

Daily Pause (automatically triggers this function when a trader overtrades) — 3%

Time Limit — Unlimited

One Time Fee — $260

Bonuses — $15 onwards (in-app credit to reduce cost for other paid challenges)

Account Scaling Plan — 2x every 10% profit target hit.

Payout ratio — 50% at level 1, 75% onwards from level 2.

How to Start

Feel free to use my affiliate links to the5ers website to explore the world of prop trading.

1. Once Sign up, you can purchase a challenge and start trading via the MetaTrader 5 (MT5) mobile application. Login using the credentials that the5ers provides.
2. Use a Lot Size Calculator to calculate the risk per trade. After figuring out your trade entry, stop loss and take profit levels. Head to the lot size calculator and key your account size, entry, stop loss and risk percentage. Use the lot size number and enter it accordingly into the MT5 app.
3. Once reaching the profit target, make sure to close all open trades and wait for the5ers to send you an email congratulating you on passing the challenge. Then they will provide another credential with the new account.
4. Keep trading until you reach the maximum account size of $4 million!
5. In the meantime, you can start withdrawal requests once every 2 weeks. Before that, you have to sign some legal documents and register with their trusted payment method for the5ers to send the profit to your bank account securely.

Endnote

After five years of trading, I’ve finally achieved consistent profitability. Despite starting with a $10,000 account in the challenge, I’m extremely satisfied with the performance of my mechanical trading system. Going forward, I plan to continue trading with the5ers and work towards growing the funding to $4 million. I’m excited to share all the progress and profits with you through regular monthly review blog posts. Cheers to the journey ahead!

Affiliate Links / Connect With Me

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6. The prop firm I am using: the5ers Prop Firm
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