The trader of the month earned over 47 in July. USD [Forex Contest]

Forex competition - Trader of the month - July 2021

Is 47 thousand. USD of profit in a month is a lot? For most investors, for sure. But how to earn so much in such a short time? Looking at the success of a trader named Yifei, it is enough to conclude approx. 1500 transactions with an efficiency of over 60%. Of course, you also need start-up capital, for example around 97. USD. Get to know the history of the Trader of the Month in the July edition of the competition Tickmill.

Congratulations to the winners!

Check it out: The trader of the month earned + 130% in June

Euro, Euro and… cable

1493 transactions in a month is quite a feat. For this you not only need a lot of free time, but also a slot machine and an idea of ​​what and how to play. Yifei focused primarily on EUR / USD (although there are also visible items on GBP / USD, much less often on other pairs and gold) and a grid strategy, although it must be admitted that an unusual grid. The volume was varied - the trader started with a small lot and then gradually increased the commitment. Trades larger than a few lots are rarely seen. Positions below one lot dominate, and micro-lots are frequent. The market was “nibbled” for several or several dozen dollars, and there were relatively few items that brought profits greater than several hundred USD.

It is interesting, however, that the directions of positions were often changed one after another (long, short, long, short etc.) on the same instrument, immediately after closing one position, and sometimes even long before this (!). Transactions rarely, actually only on weekends, lasted longer than a day. Stop Loss he did not perform, and Take Profit appeared sporadically. In this madness, of course, there was a method and a sinister plan that worked 100 percent. The sharp drop visible on the capital curve is not the result of the realization of "rotting", losing positions, but the realization of the payment of part of the profits. With such a dynamic strategy? Definitely a good move, securing the profit earned. There are no infallible traders and Yifei can boast "only" 63% success rate. Keep it up!

Yifei capital curve. Forex competition "Trader of The Month" - July 2021.

Transaction history in numbers:

• Profit: $47 338,93
• Return: 48,67%
• Total number of transactions: 1493
• Profitable transactions: 63,57%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for two years.

How did your adventure with Forex trading begin?

At the beginning I was dealing with the futures market. Later a friend showed me Forex and switched to it.

What is your trading style?

My trading style can be defined as a combination of long-term positions when the market is stable and short-term positions when the market is volatile.

Do you have any risk management policies?

Yes, I manage risk by applying account balance controls and by sound position volume management.

What good habits should investors be fooled about?

I think it is a feeling of respect for the market and creating a balance between trading and everyday life (you should not become addicted to trading).

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

The most memorable moment was when in September 2020 I opened long-term and medium-term short positions on gold. It was then $ 1950. The positions were closed as gold fell to 1800 in February 2021. The position was opened based on fundamental analysis and personal judgment.

What advice would you give to novice investors?

First, be clear about your profit goals. Use your targets to place and open positions. Secondly, it is very important to stop the loss as soon as possible.

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

One is to focus on short-term market fluctuations after news events, and the other is to use news events to analyze the market situation over the long term. I suggest that you pay attention to the intensity and scope of the impact of news events and assess whether their actual impact will be the same as expected. Also pay attention to the market reaction to avoid failure and the impact of news events.

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

What I value most is the overall quality of the platform, speed of order execution and transaction costs. Besides, the broker should not shirk its responsibility when losses are caused by problems with the platform. These are the parts where Tickmill performs very well compared to other brokers.

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.