The Trader of the Month made $ 20 in December 600 [Forex Contest]

Forex - Trader of the month competition - December 2021

Do hundreds or thousands of transactions have to translate into staggering returns? Incredibly. Do relatively low rates of return mean that the profit is small? Nor. And all this was demonstrated by a Chinese-based trader named Feng. December is considered an extremely sluggish month on the market, where in addition almost one week of trading "falls" during the holiday break, during which volatility drops drastically. During this time, Feng had more than 1700 transactions and earned + 52%, which translated into over $ 20 in profit. How did he do it? Learn the story of an investor named Feng, who was selected as the Trader of the Month in the December edition of the competition Tickmill.

Congratulations to the winners!

Check it out: The trader of the month made over 500% in November

52% of profit - a lot or a little?

Konkurs Trader Of The Month got us used to dizzying rates of return. In the November edition, the winner made over 500% of the profit, and it was not even close to a record. Meanwhile, in December, a Chinese trader earned "only" 52,51%. But when we look at the dollar result, it was over 20. And it basically changes everything. For who would despise such? "Monthly payment"?

But how did he do it? This year December happened to be quite happily keeping all the trading days (no holiday downtime), but as every year, it was struggling with a drop in volatility between Christmas and New Years. But still, Feng made 1717 transactions. This is extremely high (but also not record-breaking). First thought? Machine. And it probably was. Looking at the capital curve - a second thought? Grid strategy. And it probably was too. But the relatively low rate of return is probably due to a well-thought-out grid concept.

There were only two currency pairs - EUR / USD and GBP / AUD. Classic as with the grid - we won't give orders here stop lossand also profit was very sporadic. Although the account initially had a deposit exceeding 150 thousand. PLN (approx. 39 300 USD), the transaction volume exceeded the 1.00 lot level only several dozen times. And even when there were already over 50 on the account. USD. Transactions of less than 0.1 lots dominated and this is probably the key to making this strategy successful. The positions lasted from a few minutes to several, max. several hours, and the effectiveness was less than 70%. Feng mainly realized both small gains and small losses.

No greed, trust in the system and ... despite the grid strategy, a conservative approach to trading. Congratulations on the idea and courage in its implementation.

Feng capital curve. Forex competition "Trader of The Month" - December 2021.

Transaction history in numbers:

• Profit: 20 647,24 $
• Return: 52,51%
• Total number of transactions: 1717
• Profitable transactions: 69,13%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for almost 2 years.

How did your adventure with Forex trading begin?

In the beginning, I was involved in gold trading and was trying to get more knowledge about online trading. Later, I noticed that currency trading was more stable than gold trading, so I gradually switched to the current currency trading.

What is your trading style?

I try to avoid trading instruments or currency pairs that always have high volatility. I think if I can analyze and focus only on a few currency pairs like EURUSD or GBPUSD, that is enough to make a profit.

Do you have any risk management policies?

Yes. I believe risk management is a priority when trading.

What good habits should investors be fooled about?

I try to follow market changes and live news. Also, I like to review yesterday's trading activity every morning which can help me understand the mistakes.

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

The most memorable transaction was the XAUUSD in 2020. I lost almost $ 20000 because I didn't practice risk management very well.

What advice would you give to novice investors?

It's really important to properly manage your risk. Besides, you should be clear of mind and focus on the changes in the market, even if we are making big profits.

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

There are no specific messages that I focus on daily. But when it's hard to understand how the news affects the market, it's better not to go to the market.

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

I think the safety of funds is the most important thing I care about. I never have problems when it comes to deposits and withdrawals when trading with Tickmill; also the spread is quite low. So I am very happy to use the services here.

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.