Over 183 USD profit and nearly 500 transactions in December [Forex competition]

Forex - Trader of the month competition - December 2020

Above-average efficiency and precise money management - these factors certainly contributed to the sensational result achieved by a trader named Lei. Effect? The rate of return is slightly over 100%, the profit exceeds 183 thousand dollars and ... the title "Trader of the Month" in the December 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: Efficiency of 98% and 65 USD profit in November [Trader of the month]

A "modest" flight and a huge amount of transactions

How to earn 100% a month with a $ 170 starter deposit? Look and cry :-). Lei had an idea for it. The choice of instruments fell mainly on currency pairs from the "cross" category, ie AUD / CHF, EUR / GBP or NZD / CAD. The majors - USD / JPY or USD / CHF are also less frequent in the transaction history. However, there is no transaction on the Euro dollar or "Cable".

Risk management? Certainly certain rules had been applied from the beginning. Almost every item had been set stop lossand take profit was not uncommon. The very precise selection of the transaction volume and the degree of its differentiation suggest that Lei uses (or only supports) a machine to conclude transactions. The volume was not exaggerated at all, at least compared to the winners of several previous editions.

Strategy? The capital curve itself (screenshot below) suggests that we were dealing with Grids. The same is confirmed by the transaction history, where we observe a whole series of transactions on one security, opened at different times but closed in one moment. But is it bad, since this grid has passed the exam? The capital shift in the second part of the month is the effect of withdrawals (USD 60 thousand on December 24 and USD 100 thousand on December 28). So there is no doubt that money management and the appropriate amount of cash in the account contributed to this success.

Lei's capital curve. Forex competition "Trader of The Month" - December 2020.

Transaction history in numbers:

• Profit: 183 199,55 $
• Return: Present in several = 107,76%
• Total number of transactions: 498
• Profitable transactions: Present in several = 76,91%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for 5 years.

How did your adventure with Forex trading begin?

It was my own initiative.

What is your trading style?

I try to be patient and wait for investment opportunities. I also try not to set any solid expectations for returns and am willing to face some risks.

Do you have any risk management policies?

Of course, risk management is very important.

What good habits should investors be fooled about?

Pay attention to risk management and practice trading within your own tolerance.

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

I only trade pairs that are well known to me. I try to increase my position when the market forecast is correct and close my position when the trend changes. The most memorable pair transaction USD / CHFwhich brought a profit of approximately $ 50000.

What advice would you give to novice investors?

Take the time to research the market and invest carefully.

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

Have a few more plans for the market situation.

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

I like Tickmill for the security of the fund, the deposit and withdrawal efficiency and the low spreads 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.