The trader of the month earned 172 thousand. USD in July 2020 [Forex Competition]

Forex competition - Trader of the month - July 2020

This is definitely one of the most spectacular results in the history of the competition Tickmill Trader of the Month. A trader named Wei made over $ 170 last month, including ... over 000 (!) Transactions. And he did it all with just 26 year of trading experience. How did he do it and where did he trade? We check.

Congratulations to the winners!

Check it out: The trader of the month earned + 350% in June

Profit of… $ 172

This is definitely one of the best results since the beginning of the competition. The huge amount profit generated in just one month is due to quite satisfactory efficiency, close to 70% and a huge number of transactions. Interestingly, the rate of return itself is not so exciting, because it amounts to "Just" 443%, and these were already bigger.

Reviewing the history of 26 transactions - forgive us, but this time we will do it quite briefly 🙂 - the very low volume of positions immediately catches the eye. The vast majority are extremely low values ​​close to 203 lots, rarely closer to 0.01 lots. Positions with a volume of 0.1 lots or more were entered into very sporadically (but they also happened). Could it be a way to manage risk, but without using it Stop Loss? After all, a low volume is a low risk and Wei started July with a deposit of around $ 39. Take Profit was also set occasionally. Transactions were not overly held in time and were closed both on the small and big plus as well as on the bigger and smaller minus. So it's hard to figure out exactly what Wei was following.

Automatic machine - it was definitely used. Transactions were concluded practically around the clock, day in and day out, and usually lasted a few minutes. Similarly with the instruments - their cross-section is quite large - from gold, through virtually all major currency pairs. It is hard to imagine that one trader could handle so many markets at the same time.

The name of the machine itself and the way it works remain a mystery ...

Wei capital curve. Forex competition "Trader of The Month" - July 2020.

Transaction history in numbers:

• Profit: 172 501,32 $
• Return: 443,49%
• Total number of transactions: 26 203
• Profitable transactions: 67,98%

Trader Transaction History (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for about 1 year.

How did your adventure with Forex trading begin?

At the beginning I was trading digital currencies, then I entered on Forex market.

What is your trading style?

I prefer intrada trading and following the trend.

Do you have any risk management policies?

Yes, it is imperative when trading Forex, especially position management and risk tolerance to be considered.

What good habits should investors be fooled about?

Try to stay calm during market fluctuations, find your own trading style and analyze the market to assess the market situation.

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

The most memorable transaction was XAU / USD in March this year. The change in the price of gold was almost a hundred dollars in one day. I invested $ 500, then within a week the balance was $ 8000. Eventually, however, I reset my bill due to rapid price changes.

What advice would you give to novice investors?

It is imperative that the new trader has a good understanding of the basic knowledge of trading. It is good if he can learn from an experienced investor but still has to put in a lot of his own work to learn how to invest and trade.

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

Investors should carefully analyze the logic and causes of market fluctuations and follow market trends.

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

I like Tickmill because it has fast customer support, secure payments, fast order execution and a low spread.

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.