The Trader of the Month earned an amazing 134 thousand. USD in June 2022 [Forex Competition]

Forex - Trader of the month competition - June 2022

He doubled the value of his account in a month, making several hundred transactions only in gold. Sounds unimpressive? Let us add that the profit amounted to over 134 thousand dollars! Mohamad has shown that you can create a strategy that generates an equity curve that ascends to the sky and has an effectiveness close to 100%. Thus, he was selected as the Trader of the Month in the June edition of the competition Tickmill and received a prize of $ 1000.

Congratulations to the winners!

Check it out: The trader of the month earned 36 thousand. USD in May

Not all that glitters is gold, but ...

It was the gold deals that caught Mohamad. With nearly 600 items, each was included on XAUUSDonly 5 of them ended in a loss. The rest is pure profit ranging from a few dollars to over $ 3000 per position. As a result, the capital curve was gradually climbing up for practically the entire month. The position volume was initially small at just 0.2 lots but gradually increased to 2 lots.

Of course, this approach has consequences and a price that may come to pay someday. Although the volume of positions was relatively small, there were several or even a dozen or so open positions at the same time. The vast majority of items were not set stop lossbut take profit was frequent. This clearly suggests that the risk was really high, even though it paid off. Closing trades for a few dollars, and often even on the verge of profitability after taking into account the spread, means that for some this strategy would be a mere gamble. But as you can see, there is a method to this madness.

Based on the frequency of transactions, it is possible that Mohamad helped himself expert advisor (an automatic strategy) which relieved him to some extent from the decision-making process. The more so as the trade took place almost around the clock. Grid is the first association, but as the traders of the month have shown many times, this word does not always mean failure, at least in the short term. Nevertheless, the trader of the month himself admits that he has no risk management rules and is simply "going wild". Such a streak cannot last forever, but may it last as long as possible and the capital correction only occurs after the payment of profits - we keep our fingers crossed!

Gang capital curve. Forex competition "Trader of The Month" - June 2022.

Transaction history in numbers:

• Profit: $134 148,08

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 got involved in Forex trading thanks to a friend of mine.

What is your trading style?

Scalping and short-term trading.

Do you have any risk management policies?

Honestly, I don't.

What good habits should investors be fooled about?

Invest for long-term gains.

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

When I started selling GBPJPY and I made a profit of 120K in the long term.

What advice would you give to novice investors?

Practice risk management and choose to trade two or up to three pairs.

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

Well, both are important as they have a key impact on the markets.

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

Low spreads, reputation and trust, plus fast payouts and customer loyalty rewards.

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.