Trader of the Month earned 64 thousand. USD in October 2022 [Forex Competition]

Forex - Trader of the month competition - October 2022

$64 in profit and the capital curve steadily climbing upwards. These are the effects of several hundred transactions by a Filipino trader named Arnold. He did it in just one month, thus deserving of the title of Trader of the Month in the October edition of the competition Tickmill and a prize of $1000. How did he do it? About it below.

Congratulations to the winners!

Check it out: Trader of the month earned 49 thousand. USD in September

100% gold transactions

Arnold completed nearly 21 trades over the 400 October trading days. What is amazing, however, is the fact that all the items were contained on one instrument - XAU / USD. Gold is something that the Chinese are particularly interested in, and meanwhile an investor from the Philippines showed it "how it's done".

The Trader of the Month started October with a capital of PLN 326. USD, and ended it with a balance sheet exceeding 390 thousand. USD. What happened on the way? The vast majority of positions were executed in day-trading mode, but there were also those that lasted several days. Certainly Arnold used an automated strategy or a tool to assist in opening/closing positions. He repeatedly made several trades in the same second. He often had several or even a dozen positions open at once, creating a kind of pyramid.

Risk? It depends how you look at it. Taking into account the capital held in the account and the volume used (with a few exceptions), it cannot be said that it was significant. The capital curve shows no worse moments, but it's hard to say whether it's a matter of luck or the method used. The fact is, however, that virtually no item was equipped with stop loss, while take profit was set almost always (except for a few 5 positions). Even so, losses were cut fairly quickly, allowing him to protect his profits.

Arnold's capital curve. Forex competition "Trader of the Month" - October 2022.

Transaction history in numbers:

• Profit: $64 173,30

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

For four years.

How did your adventure with Forex trading begin?

The Forex market was introduced to me by a friend.

What is your trading style?

Trading with the trend and hedging.

Do you have any risk management policies?

Tak.

What good habits should investors be fooled about?

Patience and discipline.

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

On the XAUUSD pair.

What advice would you give to novice investors?

Study the charts and don't be greedy.

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

To deal with market events, what I can tell traders is that they should not open too many news oriented trades. The messages have already been bought or sold in advance.

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

Stability and credibility.

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.