Nearly 5000 transactions, EAs and over 114 USD profit in January [Forex competition]

Forex - Trader of the month competition - January 2021

How to earn over 114 USD per month when trading currencies? This was shared with us by a trader named Trung, who closed almost 5000 trades in January, twisted the rate of return above 200% and ... used his own automated strategy. Thus, Trung received the title "Trader of the Month" in the January edition of the competition Tickmill. Would you like to know the details of his strategy? About it below.

Congratulations to the winners!

Check it out: Over 183 USD profit and nearly 500 transactions in December

Martingale, 4833 transactions and 114 USD of profit

Even though January proved to be extremely calm for most currency pairs, it was a great fuel for Trung's strategy. The trader, as he admitted directly in the interview below, uses a slot machine (Expert Advisor) of his own authorship. Additionally, which may shock some people, despite over 10 years of experience in trading, he chose a Martingale strategy (if you don't know what that is, read This article). In short: what many consider more gambling than investing, which is considered to be a clearing-up recipe, has proved to be an extremely effective tool to multiply your deposit this time around. And that's twice in just 20 session days!

Almost none of the 4833 transactions were set Stop Losswhich is typical of martingale trading. However, practically each of them had a Take Profit set. Transactions usually lasted several days, which was due to the "need" to reach the target point. Safety valve? It was quite effective, which can be seen in the surprisingly high efficiency (less than 70%) and slight declines in the capital curve.

Thoughtful money management certainly also had a decisive influence on the success. Even though Trand started the month with a capital of around $ 52, his positions started at 000 lots and gradually increased, rarely exceeding 0.01 lots. However, there were weaker moments when the volume grew sharply - to 1.0, 3, 5 and even close to 60 lots per position.

Even though it was the stock and commodities market that provided the most excitement in January, the entire trade from beginning to end was closed within the currency pairs - EUR / USD, EUR / AUD, EUR / GBP or USD / CAD. This, of course, was the result of a well-thought-out strategy - low volatility, microlights and a large reserve of capital for a possible mistake (+ some luck) made the chances of success increase.

Trung capital curve. Forex competition "Trader of The Month" - January 2021.

Transaction history in numbers:

• Profit: 114 262,09 $
• Return: Present in several = 219,97%
• Total number of transactions: 4833
• Profitable transactions: Present in several = 67,23%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I invest on Forex market for over 10 years.

How did your adventure with Forex trading begin?

I got to know the Forex market in 2001, when I started trading on American stocks. It was then that I started to read more in the press and on websites.

What is your trading style?

My trading methodology is quite varied. I use technical analysis in conjunction with fundamental analysis (as news is an important factor), I also use EA (robots) for trading. Currently I am focusing on trading with EAs which are set according to my trading method.

Do you have any risk management policies?

Of course, even if you are using a 100% automated trading method, sometimes you still need to intervene in your positions to minimize your risk. Markets are always volatile, there is no 100% safe trading method.

What good habits should investors be fooled about?

Always be disciplined and don't be greedy. Always find out why a transaction was unsuccessful or successful.

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

For USD / CAD it is the most profitable for me in recent sessions (over $ 10.000 profit). The USD / CAD price has fallen sharply this year and I have used a hedge to hedge my Martingale positions. A short pullback in the market allowed me to win. To use the Martingale strategy you need to manage your position size and catch short term waves.

What advice would you give to novice investors?

You need to practice and experiment with trading methods to choose the one that suits your personality and risk appetite.

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

This year has been extremely volatile for the financial markets and the Forex market in particular. As an investor, you will have many profit opportunities, but also a high risk of losing money. You need to keep abreast of economic news (such as Brexit, US elections, Elon Musk's statement on Bitcoin, news about Covid-19 vaccines…) and then come up with the right strategies for your trade.

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

For me, the most important thing is that the broker is reputable and licensed. I also consider the broker's payout / deposit terms, spreads, slippage, competitive leverage for investors. So far, I am really happy with Tickmill.

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.