The trader of the month earned + 350% in June 2020 [Forex Contest]

Forex - Trader of the month competition - June 2020

Despite the decline in volatility in June, some have had no trouble finding investment opportunities. A trader named Dawei was exceptionally fiercely searching for over 1100 transactions in 22 trading days. Effect? Return rate close to + 350%, profit of USD 32 and win in the competition Tickmill "Trader of the Month". How did he do it? We check.

Congratulations to the winners!

Check it out: The trader of the month made $ 29 in May

1121 items in 22 days

Dawei began calmly with a large series of transactions on gold low volume (0.02 - 0.09 lots). After 3 days and the first gains, the volume was turned up, but it resulted in a step back. There has been a change in strategy and a shift to currency instruments. Until the end, currency pairs dominated - mainly majors, but also cross pairs. At a later stage, a series of ups and downs was seen. After two steps forward, the trader took two steps back. Everything changed in the middle of the month. A series of several highly profitable trades on EUR / USD made the rate of return skyrocket. And here comes the time for common sense - the trader decided to pay out some of his profits. Subsequent transactions did not have a special impact on the account balance, which shows that more is not always better.

Attention, we will start unusual! Most of the items were set Stop Loss and Take Profit! 🙂 It is really rare for such a number of transactions. It is true that the "sobering up" came only after the first 3 days and a series of gold transactions. Probably as the risk of trading increased, so did Dawei's caution. The volume was practically never exaggerated in relation to the deposit, and transactions rarely lasted more than a few hours. In order to assess the scale of the risk, it cannot be said that the strategy used was excessively risky. On the contrary, it is difficult to observe any significant slips in the account balance, even after counting a series of losses.

In his trading, he used pending orders of the Stop and Limit type many times, which suggests that the transactions were often "awaited", but with an average of 51 positions per day, it can be assumed that the investor was assisted by an additional machine.

Dawei Capital Curve - June 2020

Transaction history in numbers:

• Profit: 32 433,61 $
• Return: 349,41%
• Total number of transactions: 1121
• Profitable transactions: 69,49%

Trader Transaction History (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for 2 years.

How did your adventure with Forex trading begin?

I started trading by analyzing the transactions of more experienced traders.

What is your trading style?

Practice risk management in advance, make a firm decision when to enter the market.

Do you have any risk management policies?

Yes, risk management is very important in trading on Forex market.

What good habits should investors be fooled about?

Try to control and assess the risk in advance.

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

The most memorable transaction is XAU / USD. I caught the moment when the XAUUSD price dropped and in one night I gained XNUMX times profit in trading.

What advice would you give to novice investors?

Forex trading always requires risk management. In addition, sometimes an indecisive trading style can lead to the loss of potential opportunities, so the investor must be confident when opening a position.

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

The investor must carefully analyze the market situation, try to clearly understand the potential risks.

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

I like Tickmill because it has a good reputation, great customer service, also its server is really stable.

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.