Trader of the Month earned over PLN 176 in June. USD [Forex Contest]

Forex - Trader of the month competition - June 2023

Just 10 months of trading experience was enough to earn over 176 on the market. USD. And in a month! A Kuwaiti trader named Entisar broke the bank trading mostly gold (XAU/USD), making over 700 trades with virtually no stop loss. How did he do it? We decided to take a look at his transaction history. Entisar was named trader of the month and received a $1000 contest bonus Tickmill.

Congratulations to the winners!

Check it out: Trader of the Month earned 43 thousand. USD in May 2023

Hundreds of trades on XAU/USD

There is no doubt that Entisar's favorite instrument is… gold, which he traded most often. It also included a lot of transactions on USDJPY, as well as natural gas, for which Kuwait is famous (is it first-hand information about the market situation? 🙂 ). As for the strategy, classic day-trading combined with scalping dominated - most positions were closed on the same day. However, there were positions held for the next day. And here's a curiosity. Due to the fact that Entisar is a Muslim, he takes advantage of swap-free accounts (Sharia law prohibits charging interest on capital), which in practice means that Tickmill did not charge him for this (up to 3 days, then a commission for a day according to the table of feeswhich has happened several times).

The number of items may have suggested that Entisar used the machine, but there is no conclusive evidence for this. Stop Loss was not practiced. Only 17 transactions out of nearly 800 had an SL set. It's different when it comes to Take Profit, which was assigned to 99% of the positions. Nevertheless, at the end of the month you can see some sizeable profit payouts, which is regularly practiced by Traders of the Month. And it must be admitted that this is the surest method to minimize the risk of possible bankruptcy.

Transaction volume, taking into account the starting capital of over PLN 125. USD, was rather modest. In fact, there were a lot of transactions, but they were usually closed relatively quickly. For the first 20 days, the volume practically did not go beyond 5 lots. The end of the month, however, brought some encouragement and many positions reaching 10 flights. The largest single profit was $4, while the largest loss was around -$350 (there were several). However, the advantage was high efficiency, consistency and composure.

Entisar's capital curve in June 2023.

Transaction history in numbers:

• Profit: $ 176,949.87

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I started trading Forex in August 2022.

How did your adventure with Forex trading begin?

Unfortunately, at first I started trading with an unreliable broker who took advantage of my losses. Then I looked for another broker and I joined Tickmill through an affiliate.

What is your trading style?

I use the available and most popular trading methods.

Do you have any risk management policies?

Yes, I use risk management.

What good habits should investors be fooled about?

Traders should not risk trading large lots and position size should be based on their capital. They should also avoid trading while announcing important news.

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

I used to trade USD/JPY. In one transaction I was surprised to gain $5,000.

What advice would you give to novice investors?

We should always study and learn to trade.

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

Fed meetings.

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

Its terms of business, customer service and reputation.

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.