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Trader of the Month earned in October over 32 000 USD [Tickmill Contest]

Trader of the Month earned in October over 32 000 USD [Tickmill Contest]

created Paweł MosionekNovember 13 2019

Trader of the month - October 2019

Another month is behind us, and this can only mean one thing - meet the best trader of the competition Tickmill in the October edition! A trader named Jie made almost 800 transactions last month, which generated a profit for him exceeding 32 thousand. USD.

Congratulations! We also encourage you to read the interview for Tickmill.

799 positions, 68% profitable

Looking at the transaction history, it is immediately noticeable that Jie's trading was based on the gold market and major currency pairs. XAU / USD transactions definitely dominate. The volume was very diversified - from micro lots to even 40.0 lots per transaction. Interestingly, they were rarely rounded values, which may suggest that the flights were carefully selected for a specific situation and play. It is also interesting that hardly any transaction was set Stop Losswhile the vast majority were equipped with Take Profit. Was Jie using some "hidden" SL? We don't know that.

At the beginning of the month, more than 103 000 USD was in the account and it was from this level that the capital gradually increased. Transactions usually lasted from several minutes to several hours. Of the 799 positions, you can find only a few (and small) positions that have been held for the next day. Still, there was no problem closing the lossy transactions. The crisis came around 11 on the day of the month, where a series of losses generated around 20% capital pull, which was relatively quick to recover. Jei scored the largest single loss on gold (over -7500 USD), as did the largest profit (about 7700 USD). Efficiency close to 70% was enough to achieve 32% return.

The recipe for reducing the risk was to regularly pay out profits - many previous traders of the month practiced a similar strategy.

trader of the month tickmill October 2019

Jie Capital Curve - October 2019

Transaction history in numbers:

  • Profit: $ 32,270.61
  • Return: 31,24%
  • Total number of transactions: 799
  • Profitable transactions: 68.59%

Statement trader (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for eight years.

How did your adventure with Forex trading begin?

I learned about the forex market from one of my friends.

What is your trading style?

My trading style is based on short-term investing, intra day.

Do you have any risk management policies?

Risk management is mandatory. Stop loss should be used if the market is moving in a different direction than expected to control open positions.

What good habits should investors be fooled about?

Smart investors should update their schedule, constantly check whether the trading method is in line with the market situation, observe potential entry opportunities and create a good trading plan.

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

The most memorable is the trade in 11.05 gold. I managed to earn over 600 US dollars. In my opinion, when gold (XAU / USD) is in a downward trend, may be more profitable. It is easier to control positions and it is easier to estimate their turning point.

What advice would you give to novice investors?

New traders should do everything in their power to try to capture more market traffic. It is better to miss trade than to force a transaction.

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

In the case of news, markets change and it is important to remember controlling the position.

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

The Forex broker should be able to make deposits and withdrawals quickly. The broker should not have too many trading restrictions. I am also looking at spread and transaction processing.

competition rules

The winner of the competition is selected by the 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.

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.