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Trader of the month, Richard LV, earned in January 214 000 $ [Tickmill Competition]

Trader of the month, Richard LV, earned in January 214 000 $ [Tickmill Competition]

created Paweł Mosionek7 February 2018

In January, the best trader of the month turned out to be Richard LV, who achieved an amazing profit of over 214 000 $, or as much as 719 000 PLN. It was enough for this 106 transaction and efficiency at 74%. A record, single transaction gave Richard over 37 000 a profit.

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 $

Gold, majors and ... Progressive volume

Trader of the month of December owed its success to transactions made on Bitcoin. Richard's transaction history also includes the most popular cryptocurrency, although it ultimately contributed to the loss of the account. The biggest profits of the January trader owe to gold speculation (XAU / USD), EUR / USD, AUD / USD and USD / CAD. Most often, transactions lasted from several minutes to even several hours. In his strategy he used pending orders, both stop and limit type.

Richard used to dynamically (progressively) increase the volume per position with the increasing margin. The first transactions were for 1, 2 and 5 lots, but soon the value was increased to 10, 20, 30 and eventually 40 lots. The highest gain on a single trade was $ 37929,48 on a Eurodollar pair. The volume was 40.01 lots and the transaction took approx. 12 hours.

Aggressive money management has been secured by regular payments of earned profits, which is quite a sensible move.

Richard's account capital curve.

Transaction history in numbers:

  • Profit: $ 214,090.35
  • Return: 1350.88%
  • Total number of transactions: 106
  • Profitable transactions: 73.58%

Statement trader (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading on the Forex market since 3 for years.

How did your adventure with Forex trading begin?

Trading on the FX market is my half-time job. In addition, I also have my permanent main occupation.

What is your trading style?

My trading style is based mainly on my previous experiences. I check the main currency pairs and gold to feel the strength of the market. My transactions are short-term, I usually take positions on 2-3 days.

Do you have any risk management policies?

Yes, I'm practicing risk management. I usually set a stop loss or close open positions when the market trend changes. Usually, my lever does not exceed 1: 50.

What good habits should investors be fooled about?

I think that good habits in trading are patience, keeping position and being patient while the market trend continues. It is better not to trade too large items. You have to learn to close positions in advance if the market began to move in the opposite direction.

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

The most memorable trade - I had a very good month in January 2018, I managed to earn at the beginning of the long trend on the EUR / USD pair. I worked out a profit of 37 thousand. USD in one position.
I mainly look at monthly and weekly charts.

What advice would you give to novice investors?

I suggest new investors to start trading on a demo account, read the software and then create their own transaction system. Then start with a small amount on your Live account, do not throw in too much money to start with.

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

By choosing a Forex broker, I look at financial security and payoff speed. It is important to check the speed of the transaction and the amount of spreads that must be low.

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.

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