He multiplied his bill in February 2021 [Forex Contest]

Forex - Trader of the month competition - February 2021

410% of profit in the shortest month of the year? The most to be done. And it was proved by a trader named Chao, who generated a profit of 800 thousand in nearly 90 transactions. USD and thus more than 4 times his capital. Thus, Chao received the title "Trader of the Month" in the January edition of the competition Tickmill. Do you want to know how he did it? About it below.

Congratulations to the winners!

Check it out: Nearly 5000 transactions, EAs, over 114 USD profit [Trader of the month January 2021]

High efficiency and over 400% profit

Pyramiding and… a lot of differentiation. This is the shortest summary of what happened on Chao's account in February. The trader has based his trade on both major currency pairs and precious metals, crude and US indices. To the full range of the offer Tickmill Only the exotics were missing, although a few crosses were also found. At first glance, you can see that the dominant currencies - EUR / USD, USD / JPY and USD / CAD - but it was the gold and silver transactions that brought the biggest profit at the end of the month.

A series of transactions on a given security, opened one after another, with an irregular volume, which lasted from a few minutes to ... several days. It is impossible to work out the entire methodology in detail, the more that the trader himself spared details in the interview below, but you can see that he is not afraid of risk. Transactions were very often equipped with Take Profit, rarely with Stop Loss. However, there is also a series of negative transactions. As a rule, the losses were greater than the realized TP. This forced the trader to be highly effective. Additionally, the risk was limited by regular payments of generated profits.

Volume? From mini-flights to close to 7 lots per trade for currency pairs. The actual exposure was much greater thanks to the pyramiding and involvement on several instruments at the same time. It must be boldly stated that with this approach, the risk was significant, even despite 22 thousand. USD of the deposit with which Chao started. However, these types of strategies have already featured in others Traders of the Month. This shows that there may be a method in this madness.

Chao capital curve. Forex competition "Trader of The Month" - February 2021.

Transaction history in numbers:

• Profit: 89 873,65 $
• Return: 410,32%
• Total number of transactions: 776
• Profitable transactions: 76,42%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for 4 years.

How did your adventure with Forex trading begin?

I realized that investing on Forex market it's really interesting so i started to find out more about it.

What is your trading style?

I am mainly interested in short-term trading.

Do you have any risk management policies?

Yes, risk management is really important.

What good habits should investors be fooled about?

Smart traders should focus on analyzing when they should place a Take-Profit order or Stop-Loss.

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

Price GBP / USD It hit 1.42 recently and I caught that moment by making a short term trade that ultimately turned out to be a win-win.

What advice would you give to novice investors?

Try to learn how to take take profit or stop loss smarter.

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

News and events generally affect the instrument in the short term, but traders should be careful to understand whether the news is true or false.

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

I like Tickmill because of the security of funds and the stable platform it offers.

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.