Trader of the Month with a profit of nearly PLN 45 USD in March 2023 [Forex Competition]

Forex - Trader of the month competition - March 2023

Concluding 600 trades and earning 45 USD in a month is a great feat. But even more impressive is the fact that it was done by a trader from Vietnam who had become interested in the Forex market just 6 months earlier. Thus, he proved that what counts above all is the idea of ​​​​trading, keeping the risk in check and, above all, your own emotions. Consistently, throughout March, he traded making a lot of transactions and actively managed the capital on the account (deposits, withdrawals). Finally, he received the title of trader of the month and received a bonus in the form of a $ 1000 bonus in the competition Tickmill. How did he do it? About it below.

Congratulations to the winners!

Check it out: Trader of the Month with a profit of over 64 thousand. USD and a success rate of 100% in February 2023

6 months of experience? it was enough!

Such a short internship is the most impressive element of the success of a trader from Vietnam named Nguyen. Not having too much baggage of experience, he found his own method, which he had the courage to implement and successively apply, even despite many mistakes. 600 transactions is a lot, but in the history of the Tickmill competition, there have been more "aggressive" traders. However, what immediately catches the eye is the fact that a kind of pyramid scheme was used. Often Nguyen started with a relatively small position, and after some time he added more, larger ones, which he then closed in bulk. Often, he also reversed the direction immediately after that and tried to take more pips from the market by trading in the other direction.

The selection of instruments was quite unusual. Gold (XAUUSD) and pairs with yen dominated, but mainly crosses, e.g. NZDJPY, CADJPY, AUDJPY… Stop Loss it was used rather occasionally, Take Profit was used much more often. Losses were held at times, but in relation to the capital held, the situation seemed to be quite under control at all times. What made it possible to effectively manage the risk were regular capital additions and substantial profit payouts (up to USD 9 - USD 17 at one time).

Despite a rather jagged capital curve, a lot of risk with the strategy used (pyramiding, holding losses), the result is really enviable. Especially considering such a short time on the market. We keep our fingers crossed for further successes!

Nguyen capital curve in March 2023.

Transaction history in numbers:

• Profit: $44 666,73

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading Forex for 6 months.

How did your adventure with Forex trading begin?

I got involved in Forex trading through the recommendation of a friend.

What is your trading style?

I trade swing style.

Do you have any risk management policies?

The most important part of risk management is the capacity calculation that I do every time I trade.

What good habits should investors be fooled about?

I think you have to be really patient and calm.

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

In March I was long on XAU/USD and made a huge profit.

What advice would you give to novice investors?

I think new traders should consider their best trading strategy before placing an order because doing so would be like gambling with the possibility of losing money.

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

In my opinion, the most interesting should be the events related to the US currency.

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

The security of trader accounts is the most important thing in my opinion.

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.

Attention! The contest is for traders trading with Tickmill Ltd. Seychelles only.