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Trader of the Month earned 89 thousand. USD in January 2023 [Forex Contest]

Trader of the Month earned 89 thousand. USD in January 2023 [Forex Contest]

created Paweł Mosionek8 March 2023

Forex - Trader of the month competition - January 2023

From zero to millionaire? Almost! A trader from Egypt named Mohammed showed that dizzying rates of return are real to pull off. He started the new year with a deposit of approx. PLN 5. USD, and ended January with a profit exceeding 89 thousand. USD. He also received an additional bonus, which is a $1000 bonus and the title Trader of the Month in competition Tickmill. How did he get such a spectacular result? About it below.

Congratulations to the winners!

Check it out: Trader of the month earned 108 thousand. USD in December 2022

Over 1000 transactions in a month

Sounds crazy? It looks like that too. Mohammed's Statement is incredibly long and contains over 1000 items. The dominant instrument is the US30, which is a CFD on an American index Dow Jones 30 however, there is also no shortage of transactions on gold and GBP / USD. How did the trader of the month of January trade? In short: aggressively.

The trading history consists of many short-term trades and scalps. Positions were never held to the next day. Volume? In relation to the capital held, large. Aggressive trading, a lot of positions at once (pyramidal) and in most cases none Stop Loss. This sounds like a recipe for failure. And yet it worked. By what right? First of all, because Mohammed regularly paid out the profits earned. For almost the entire month, he regularly withdrew earnings from the account and did not exceed the level of 30. USD deposit. The change came at the end of January when more volume came into play (25 lots on US30 per position). At that time, the profits also accelerated, but the risk also increased, which was felt in the fluctuations of the capital on the account. Ultimately it paid off. But will the result be repeated? We keep our fingers crossed for it!

trader of the month of January 2023

Mohammed's capital curve in January 2023.

Transaction history in numbers:

  • Profit: $89 033,71

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for 7 years.

How did your adventure with Forex trading begin?

I discovered Forex trading myself.

What is your trading style?

I use some of the most popular trading styles.

Do you have any risk management policies?

Yes, I use them sometimes.

What good habits should investors be fooled about?

Research the markets more often.

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

I made around $15 trading the US000 index. In this case, I was investigating various events affecting the index.

What advice would you give to novice investors?

Educate yourself as much as you can, research major events affecting the markets, and be patient.

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

CPI, GDP reports, Fed meetings, etc.

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

Trading Terms, Customer Service and Reputation.

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.

Attention! The contest is for traders trading with Tickmill Ltd. Seychelles only.

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.