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Trader of the month, Wei, earned in March over 80 000 $ [Tickmill Contest]

Trader of the month, Wei, earned in March over 80 000 $ [Tickmill Contest]

created Paweł MosionekApril 16 2018

Trader of the month - March 2018

Wei, the trader of the month in the Tickmill competition, made a return rate last month "Only" 16%. So how did it happen that he stood on the podium? Well, there were several factors that determined the victory - first of all, the effectiveness of the signals and the initial deposit. Wei started with the capital on the account of $492 559where, successively, and above all exceptionally stably and without any significant capital obsolescence, he multiplied the balance of his account. By the time. After all, the result is impressive, and we congratulate you!

Tickmill doubles the prize
From September 2017, the broker will be able to select not one and two traders of the month, where each of them will receive an award of 1000 $

23% of capital loss

By analyzing the history of Wei's transaction, one can not overlook the stability of growing profits in the first half of March. Throughout the period, the number of transactions concluded approached 1000. Statistically, this gives approx. 40 positions per one trading day. The account swelled with less 500 000 $ to 688 000 $ like from the ruler. And then the worse time came. A series of unsuccessful investments on precious metals and indices resulted in a quite severe drop of capital to approx. $530 000. And even though Wei kept his account balance above the exit ceiling, he noted that 23% of capital loss in just a few days.

The strategy is unusual. Initially, one can get the impression that the trader was holding lossy positions waiting for them to return to a positive balance. But no transaction lasted more than one, so it did not go on forever. Interestingly, Stop Loss was practically not used, while Take Profit had the vast majority of items.

The volume that was huge at times turned out to be key. The largest single transaction was for 100 flightswhich is the maximum value in Tickmill. It's just that sometimes Wei opened several trades at once. The list of transactions is dominated by two instruments - HK50, i.e. the Hong Kong stock exchange index, and XAUUSD, i.e. gold. Transactions on currencies or other indices occur in a trace amount.

Wei trader's capital curve - March 2018

Transaction history in numbers:

  • Profit: $ 80,837.54
  • Return: 16,41%
  • Total number of transactions: 874
  • Profitable transactions: 78,94%

Statement trader (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading on the Forex market since 5 for years.

How did your adventure with Forex trading begin?

Trading on the stock market did not really suit me, so I tried to get to know the Forex market myself.

What is your trading style?

My favorite style of trading is fast entries and exits. I do not keep my position overnight.

Do you have any risk management policies?

I'm still learning risk management. If I take a low-risk approach, I can not make money. On the other hand, if I take a high-risk approach, I can not stand the psychological pressure. This is very contradictory.

What good habits should investors be fooled about?

It is a good habit to control your position and not make decisions on impulse. Otherwise, you will not be able to cover your positions.

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

The most unforgettable event that I experienced was clearing my account. I did not have any profitable transactions because I started selling too early.

What advice would you give to novice investors?

If you do not have enough money to trade in the Forex market, you should not do this because it is difficult to earn money and only few traders are successful.

Considering the current market situation, do you think that traders trading in macro / news trading data should keep an eye on it?

I have never read a message and I have little knowledge about technical analysis, so I trade based on my feelings. Because I have to work, I do not have time to learn, so I mainly rely on guessing.

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

I like Forex brokers who provide low spreads and a convenient payout process.

competition rules

The trader is selected by the Tickmill Jury. The win is not only determined by the rate of return - it is the total that matters. Overall, i.e. the 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.