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The Trader of the Month earned 122 thousand. USD in August 2022 [Forex Competition]

The Trader of the Month earned 122 thousand. USD in August 2022 [Forex Competition]

created Paweł MosionekSEPTEMBER 14, 2022

Forex - Trader of the month competition - August 2022

He earned 130% and made around 600 deals - all in just one month. Chinese trader, Yinyue Bei, showed incredible discipline and iron nerves, investing extremely aggressively and effectively. Thus, he was selected as the Trader of the Month in the August edition of the competition Tickmill and received a prize of $ 1000.

Congratulations to the winners!

Check it out: The trader of the month earned 158 thousand. USD in July

Euro, Euro and… Euro

The huge number of transactions is something that distinguishes Yinyue Bei trading. 99% of them were traded on the king of currency pairs - eurodollars. And it is in such interesting circumstances. As a rule, the EUR / USD pair is characterized by low volatility and a sideways trend. Meanwhile, recent months have seen strong trends and excessive volatility. And our hero managed to use it. Interestingly, despite the fact that the euro has been falling practically continuously for 15 months, Yinyue Bei was betting on both declines and increases in the exchange rate. As a rule, he opened the entire grid of positions - at different levels, on different days. Averaging? Probably, but not only that.

There were also classic elements that regularly appear in the stories of traders of the month, namely - playing without stop loss and regular payments of earned profits (in small amounts). It can be assumed that the risk was high, but it was right, although it was partially reduced with payouts. What's unique is that virtually every trade had a take profit set that was often made. And here it is also worth looking at how the capital curve behaved. We see a slow climb up and every now and then a "correction", indicating stumbles. What resulted from (excluding payments)? Most often from hedging, i.e. the execution of a loss on a position with a reversed direction to the formed order network. Quite unusual, but as can be seen in this case - effective.

trader of the month of September 2022

Capital curve of Yinyue Bei. Forex competition "Trader of The Month" - August 2022.

Transaction history in numbers:

  • Profit: $122 772,64

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading Forex for over 2 years.

How did your adventure with Forex trading begin?

I got involved in Forex trading thanks to a friend's recommendation.

What is your trading style?

I am an aggressive trader. I like short-term trading.

Do you have any risk management policies?

Yes, but I don't always follow them. Sometimes I make aggressive trades that exceed my risk management policies.

What good habits should investors be fooled about?

I think it is a good habit for a trader to put risk management first.

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

My most memorable trade was the EURUSD position during the first day of the Russo-Ukrainian war. The EURUSD rate dropped sharply and I made $ 100.

What advice would you give to novice investors?

For newcomers to the Forex market, I advise you to gain knowledge, all the time.

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

Usually I pay attention to international news, especially important events that can have a big impact on the forex market.

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

For me, the most important thing is the low spreads because I like short-term trading.

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.

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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.