850 transactions and 81 thousand. USD profit - meet the new Trader of the Month [Forex Contest]

Forex - Trader of the month competition - October 2020

850 transactions in just one month? It's a feat. But an even greater feat is to get a rate of return above 100% with a lot of capital. A trader named Zhifeng made over $ 80 and was thus selected as "Trader of the Month" in the October edition of the competition Tickmill. How did he do it? About it below.

Congratulations to the winners!

Check it out: The trader of the month made $ 45 in September

81 thousand USD profit in October

Zhifeng started the month with a deposit of approximately $ 71. He ended it with a capital of $ 000. What happened in the meantime? 149 transactions, all in currencies, mostly major pairs. Volume? From mini lots to 000 lots per transaction. The trader operated with equal volume values, which suggests that he did not apply rigid capital management and was more aiming "by eye". Additionally, Stop Loss set had less than 50% of the transaction. Take Profit was an even rarer phenomenon. Is it wrong? The achieved result shows that there was a method in this "madness".

There were many transactions, but compared to the previous editions of the competition, it cannot be said that the success was determined by effectiveness. It was a "paltry" 65% (earlier Traders of the Month often scored from 80% upwards). So what could have made such a good result? In relation to his capital, Zhifeng did not operate with too much volume per position (with a few exceptions). Usually, transactions lasted from a few minutes to several hours. He also often paid in and paid out his capital (eg payment of 60 on October 5, payment of 50 on October 6). It's hard to say for sure what the purpose of this was - but it looks like he kept his finger on the pulse all the time.

There were bigger losses, as well as profits. But it was a series of good transactions that suddenly made capital grow dynamically. A given direction was chosen for a specific value, and when it turned out that it was correct, the number of positions was increased until the potential of movement was exhausted.

Zhifeng capital curve. Forex competition "Trader of The Month" - October 2020.

Transaction history in numbers:

• Profit: 81 659,98 $
• Return: 114,97%
• Total number of transactions: 850
• Profitable transactions: 65,29%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for over 8 years.

How did your adventure with Forex trading begin?

I started trading because I wanted to know the Forex mechanism, so I started learning and practicing.

What is your trading style?

I usually settle my positions weekly, and I also try to adjust my trading strategy based on the weekly return for each instrument.

Do you have any risk management policies?

Yes, risk management is really essential in trading. Investors should consider the risks they can afford and then open their positions.

What good habits should investors be fooled about?

Try to practice risk management in advance. Don't be greedy when trading.

Describe your best / most-remembered transaction (How much did you earn? What strategy did you use? On which pair?)

In the first half of 2020, I opened short positions on pairs without USD and on stock indices. The large fluctuations were impressive.

What advice would you give to novice investors?

New traders should first choose a good broker that has a stable service and a good reputation like Tickmill. Investors should also take the time to analyze market data.

Considering the current market situation, what do you think data / investors should pay attention to?

This month there will be elections in the US, so it is imperative to prepare a strategy for all possible scenarios.

What is the most important thing you expect from a Broker?

I like Tickmill for its safe and efficient payment methods and low spreads.

Forex "Trader of the month" competition

The winner of the competition is chosen by Tickmill Jury. The win is not only determined by the rate of return - it is the total that matters. Factors such as earned profit, position management, risk and trading skills are taken into account. There is also one more necessary condition - interviewing the broker and consent to make the account history public. Only then does the prize of $ 1 go to the trader's investment account.

The principles introduced are aimed not only at showing that you can make money on the Forex market, but also consciously educate and encourage sharing experience with other traders.