Trader of the Month earned PLN 80 in September. USD [Forex Competition]

Forex - Trader of the month competition - September 2023

Nearly $80 profit in a month, trading only on Eurodollars, always with a position of 5.0 lots - sounds unusual! A trader from China named Yong achieved a spectacular feat, demonstrating incredible consistency in implementing the assumptions of his strategy. Throughout September, he made over 300 trades, securing his initial deposit with regular withdrawals along the way. He wasn't very effusive in the interview, but as usual, we decided to take a closer look at his transaction history. A trader from China received the title of trader of the month and a bonus of $1000 in the competition Tickmill.

Congratulations to the winners!

Check it out: Trader of the Month earned PLN 85 in August. USD [Forex Competition]

Over 300 trades, all on EURUSD

Yong completed over 300 items within a month and started with a balance of approx. 20. USD. He ended the month with an account worth over PLN 63. USD but he made a few withdrawals along the way (more on that in a moment). All items were steamed EURUSD - only. What's even more interesting is that each transaction was equal to 5 lots - without any exceptions. Amazing consistency in action. Additionally, no position had a Take Profit set, but an order stop loss occurred occasionally in a dozen or so transactions. But regular payments were a form of securing the profits. Several times the trader withdrew 3-6 thousand. USD as his account progresses.

What was Yong's strategy? It was mainly scalping of a few or a dozen pips with a position life time of up to an hour and day-trading, where some transactions were extended to several hours but there were practically no situations in the form of "pickling" precipitate. In case of a mistake, he was not afraid to close a series of positions in a row, which in total brought up to 13. USD capital loss (approx. -30%). Overall, the effectiveness was very high and the series of small profits were often continued. Of course, this resulted from holding several positions in one direction at the same time, but despite this, Yong was usually on the good side of the market. And keep it up!

Yong's capital curve in September 2023.

Transaction history in numbers:

• Profit: $ 79,797.41

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been investing in the Forex market for 10 years.

How did your adventure with Forex trading begin?

I got involved in Forex trading thanks to the Followme community.

What is your trading style?

My trading style is a stable trading strategy.

Do you have any risk management policies?

Yes, I use risk management.

What good habits should investors be fooled about?

I believe that using stop losses is a good habit for a smart trader to have.

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

My most memorable trade was the EUR/USD trade which resulted in a significant profit.

What advice would you give to novice investors?

My advice to new traders is to learn how to use stop loss orders.

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

I believe that a trader should pay attention to economic calendars to understand future market conditions.

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

What I look for most in a forex broker is the security of funds.

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.