The Trader of the Month earned nearly 90. USD in October 2021 [Forex Competition]

Forex - Trader of the month competition - October 2021

This is the second month in a row in which the competition has been held TOTM not the trader wins trader! The rate of return reaching 60%, a pure profit of nearly 90 thousand. USD, over 400 transactions and 78% success rate. Sounds amazing, and it is. Get to know the story of an investor named Gang, who won the October edition of the competition Tickmill.

Congratulations to the winners!

Check it out: Trader of the month with a profit of 86 thousand. USD in September

89 thousand USD profit, but it was not easy

We look at the Gang transaction history and find there a lot of interesting information about the trading method used. The first thing that stands out is the liking for two currency pairs - GBP / USD and EUR / USD. There are no other instruments on the list of items. In October, the gang carried out as many as 428 transactions, of which 78% ended up positive. This is a great statistic.

Limit orders appear regularly, and literally only two positions had a stop loss. It was a little better with take profit. Nevertheless, nearly 100 trades closed in a loss.

Transactions lasting up to several hours dominated, but there were also items held for several days. You can see a diagram of averaging and holding losses while increasing the volume of subsequent items. The so-called martingale connected with a kind Grids always carries a high degree of risk and usually works mainly with a sideways-moving market. In this case, this approach did quite well. But it was not easy, especially at the beginning of the month, when a series of losses "pulled" several thousand dollars from the account. Then it was time to make up for the losses and use common sense in the form of ordering the payment of part of the capital (USD 26).

The gang usually started the position grid with a relatively small volume of 0,3 lots. But these figures quickly grew to a few lots (4-10 lots per transaction). The record position took place on October 12 in GBP / USD and amounted to ... 55 flights. Probably the opening was a mistake but luckily it ended with only a small loss. As you can see, mistakes also happen in big capital :-). It is impossible to conclude on what basis the order network was started, but the position management method was certainly one of the factors determining the success.

Gang capital curve. Forex competition "Trader of The Month" - October 2021.

Transaction history in numbers:

• Profit: 89 951,93 $
• Return: 58,74%
• Total number of transactions: 428
• Profitable transactions: 78,04%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

It's been 2 years since I started trading Forex.

How did your adventure with Forex trading begin?

A friend introduced me to the market, and then I was learning by myself.

What is your trading style?

I prefer a stable trading style.

Do you have any risk management policies?

Yes, it is very important to assess the risks you can afford before you start trading.

What good habits should investors be fooled about?

There is a need for flexibility in position management which is a mainly risk management practice.

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

I was able to catch a sudden fluctuation in a trading instrument and made $ 30.

What advice would you give to novice investors?

New traders should pay more attention to adjusting and managing positions.

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

Traders shouldn't take all the news. It's important to analyze and research your messages before making any decision.

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

Stability and reliability of the trading platform.

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.