The Trader of the Month earned 49 thousand. USD in September 2022 [Forex Competition]

Forex - Trader of the month competition - September 2022

49 thousand dollars of profit during the month - this is an admirable result. It is true that the rate of return was "modest" 70% (in the August edition it was 120%), but the style, precision and nerves that Cihan Ecemis showed, definitely deserve the title of the Trader of the Month in the September edition of the competition Tickmill and a prize of $ 1000. How did a trader from Turkey "dial" such a result? About it below.

Congratulations to the winners!

Check it out: The trader of the month earned 122 thousand. USD in August

Not quantity but quality (and big lot)

Less than 80 trades were enough to earn over 70%. Why is it so important? Looking at previous editions, often traders winning the competition presented an account history of hundreds of items, and only from one month. This time it is evident that it was about the quality and implementation of the plan. Short positions on the US500 (CFD on S & P500). Admittedly, September turned out to be an exceptionally good month for bears (the S&P 500 fell by over -9% in total).

Transactions usually lasted from a few minutes to several hours, and the volume reached 100 contracts. This is relatively large, but you have to take into account that there was no averaging here, and often opening a new position on the same instrument was preceded by closing the previous one. So it can be concluded that money management it was extremely safe.

The history of transactions also includes crude oil, major currency pairs and ... natgas. And it was the latter instrument that turned out to be the most ungrateful for the trader. Only 3 transactions assuming a drop in price natural gasone after the other, additionally during the night hours, caused the largest decrease in capital, which amounted to as much as 13 thousand dollars. But the losses were more than recovered on the US500 the next day.

For those who regularly follow this series of articles, it will come as no surprise that the Turkish trader has generally not used stop loss. However, it cannot be said that losses were held and profits were cut back, which is typical of gamblers and traders relatively risky. Yes, there were stumbles, but many times Cihan Ecemis closed positions with a profit several times higher than the more painful losses. Take Profit was used sporadically, but it is difficult to say what the scheme was here.

Cihan Ecemis capital curve. Forex competition "Trader of The Month" - September 2022.

Transaction history in numbers:

• Profit: $49 094,20

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

For five years.

How did your adventure with Forex trading begin?

I joined the Forex market to buy oil as its price was plunging.

What is your trading style?

My trading style consists of two types, short term trades that I make daily and medium term trades.

Do you have any risk management policies?

I definitely employ risk management. Wherever I have to stop, I stop. I don't get too carried away easily.

What good habits should investors be fooled about?

The best habit I developed was patience and apathy in the Forex markets.

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

It was a sell (short) position on the stock exchange. I can't remember now how much profit I made. My strategy was to make sure I was in the right direction.

What advice would you give to novice investors?

My first advice to new investors is not to make the mistake of buying an instrument too low or selling it when the price has risen. It's always the worst in the markets.

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

In order to deal with the market developments, what I can advise investors is that they should not open too many trades oriented towards macroeconomic news. Messages have already been bought or sold in advance.

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

A good Forex broker should be trustworthy, should have people to help with any matter, and shouldn't have any problems with payouts.

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.