Trader of the Month earned 96 thousand. USD in April 2023 [Forex Competition]

Forex competition - Trader of the month - April 2023

Nearly 100 USD profit in a month sounds like a dream. In the case of a trader from China named Liying, it is a reality. How did he do it? Coincidence, luck? Or extraordinary skills, discipline and strategy? He didn't reveal much in the interview, but we decided to take a look at his transaction history, which consists of less than 200 items. Liying was named trader of the month and received a $1000 contest bonus Tickmill.

Congratulations to the winners!

Check it out: Trader of the Month with a profit of nearly PLN 45 USD in March 2023

Indices, commodities and crypto

A truly explosive and unusual mix. The trader of the month statement includes everything except… currencies. Liying traded indices (Dow Jones 30, Nasdaq 100, DAX 40), commodities (oil, natural gas), precious metals (gold, silver) and Bitcoin. What came out of it? Strangely enough, mostly good stuff as most of the trades ended up being profitable. The biggest single loss was in oil and was no more than $1500. This is in contrast to the largest profit, which was realized on gold in the amount of over 14 thousand. USD is practically nothing.

The Chinese trader both scalped and occasionally held positions longer if the entry was less precise. It also allowed profits to grow - the most profitable transaction lasted over 24 hours. Often the opening of the next position was preceded by the closing of the previous one. The volume ranged from a few to several lots on metals, cryptocurrencies and indices, but in the case of oil it was counted in hundreds (and even reached a thousand). Stop Loss it was used rather sporadically, similarly to Take Profit, but the risk was reduced in a different way. Once again, in the trader of the month's trading history, we see the payout of a large portion of the profit earned (in this case, $30 at the end of the month), which is by far the best form of protection against a devastating mistake and possible account wipe. Despite such great results in a short time, foresight is certainly a good quality.

Liying capital curve in April 2023.

Transaction history in numbers:

• Profit: $ 96,008.83

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading on the Forex market since 5 for years.

How did your adventure with Forex trading begin?

After trading stocks, I became interested in Forex trading.

What is your trading style?

My trading style is active and adventurous.

Do you have any risk management policies?

Yes, I use risk management.

What good habits should investors be fooled about?

The best habit, in my opinion, is not to focus too much on past trades and not change decisions too easily.

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

My best/most memorable trade was long gold (XAUUSD).

What advice would you give to novice investors?

My first piece of advice for new traders is to trust your own judgment.

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

Correct recognition of press releases is crucial.

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

The most important features that I look for when choosing a Forex broker are security and reliability.

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.