Trader of the Month closed over 1000 positions and 116 trades in December. USD Profit [Forex Competition]

Forex - Trader of the month competition - December 2023

These numbers are really impressive. December - a month that traders associate with market stagnation, boredom and falling spreads - turned out to be an ideal time for trading in Mohammed's case. In the last month of 2023, he closed over 1000 positions and achieved a profit of nearly $116, and he started with a deposit of $1500. It sounds amazing, but the road to this success was not strewn with roses. However, resetting the account to zero several times in very short intervals brought a lesson from which the trader from Egypt drew appropriate conclusions. Ultimately, he received the title of trader of the month and a bonus of $1000 in the competition Tickmill. And we traditionally decided to look at the history of his transactions.

Congratulations to the winners!

Check it out: Trader of the Month earned PLN 42. USD in November [Forex Competition]

Over 1000 items in December – how is it possible?

Monthly traders often generate a large number of trades in a short period of time. But usually "a lot" is 100, 200, 500 items. This time "a lot" really means A LOT, because there were nearly 1100 of them. Only a few dozen of them had a defined stop loss and take profit, and the instruments included only: gold (XAUUSD), GBPUSD, EURUSD and US30 (CFD on the Dow Jones 30 index), where most transactions were carried out on XAUUSD.

How is it possible that Mohammed managed to be so active in December, when volatility usually drops and several trading days are missing? There can be only one answer: Expert Advisor. The machine used by the Egyptian trader created grids of orders on one instrument at the same time. This meant that there were often at least several positions in the game (and often even several dozen!), which were closed within the next few or a dozen or so minutes, and then new ones were opened. And so practically around the clock. Although I suspect that from the very beginning, transactions were concluded manually, without any major plan, which ended disastrously. But more on that in a moment.

It seems almost impossible to figure out the principles of operation of the strategy used, because sometimes the positions opened were literally 30-40 in the same second, while sometimes the trading was extremely calm. Perhaps the trader used more than one EA or managed its parameters on an ongoing basis.

Risk management also seems to be very specific. We see a lot of deposits and withdrawals in the account history. Sometimes the deposited amount was immediately withdrawn from the account in the same amount. Mistake? Case? Or maybe there was a reason? It's hard to tell. However, when larger profits appeared at the end of December, they were secured by withdrawals from the account.

Let's move on to analyzing the profits achieved. Mohammed started December with a deposit of $1500 (+$14 that was already in the account, probably after the earlier failure). On the same day, he transferred the same amount, but the trade was already in progress. This was necessary because the margin was already running out (open trades were bringing losses). This showed from the very beginning that the risk taken was high. The profit gradually increased to PLN 12. USD, after that the account was practically wiped out. And it's already December 4th. Mohammed got up from his knees, made another deposit, and then made another attempt that… ended the same way. And on the same day. Another deposit and another try. Bankrupt again. And only 5 hours later. They say that 3 times is a charm, but perhaps in Egypt this saying sounds different (up to 4 times?), because that was the moment when something changed. A mixture of gambling, determination, plan and analysis of one's own actions resulted in complete success. Another payment was made and from then on, until the very end, the capital was multiplied and the month closed with a huge profit exceeding PLN 115. USD.

Mohammed's capital curve in December 2023.

Transaction history in numbers:

• Profit: $ 115,939.69

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading since the 2018 year.

How did your adventure with Forex trading begin?

It started with gold trading.

What is your trading style?

I trade using classical analysis.

Do you have any risk management policies?

Yes, I sometimes practice risk management.

What good habits should investors be fooled about?

Some good habits that smart traders can develop include reading, monitoring, analyzing, and practicing patience.

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

My most memorable trade was a US30 trade that netted $89000 in a month.

What advice would you give to novice investors?

I would advise new traders to prioritize learning, be patient and start trading with smaller amounts. Additionally, you should hold much more capital than their trades at a ratio of 80% – 20% and ensure that losses do not exceed 5%.

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

Investors should keep an eye on EU, UK and US inflation, retail sales, employment data and Fed decisions.

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

The most important things are the broker's reputation, financial soundness, quick resolution of problems and trust in confidentiality when processing customer data.

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.