The trader of the month made almost + 1200% in May 2021 [Forex competition]

Forex competition - Trader of the month - May 2021

Only 25 transactions were enough to achieve a spectacular high rate of return in May 2021. The winner of the May edition of the competition "Trader of the Month" became a trader named Shing, who made over 74. USD and multiplied his account by nearly + 1200%. How did he do it? About it below.

Congratulations to the winners!

Check it out: The trader of the month earned over + 100% in April

Quality, not quantity

The rate of return is very impressive. But the fact that it was dialed in just 25 transactions is even more impressive! As a rule, traders of the month "boast" with hundreds or even thousands of transactions concluded in a short time. Often these are items with a huge (in relation to the capital held) volume. This, combined with high efficiency, results in high profits. But you have to be aware that each market entry involves a "new" risk and cost related to the commission / spread. Perhaps this is why the Shing trader focused on the quality of the positions, not the quantity. But he did not spare himself with the volume ;-).

In the transaction history, we can see that the trader started the month with a deposit of $ 6 and ended with ... $ 247. It's impressive. Along the way, however, two transactions were made - deposits (+ $ 84) and withdrawals (-429 USD). The trading was performed on only 10 instruments: GBP / USD and CFDs on Dow Jones (US000) and Hang Seng (HK50). In the case of the "cable", the volume per position was up to ... 10.0 lots. Up to 100 lots on indices. Items were rarely set stop lossas well as take profit. Nerves of steel and constant position control in such a combination is downright must-have. Interestingly, however, some transactions "veins" even a few days so it can be assumed that Shing was aware that a mistake could cost him dearly, but nonetheless held on to losing trades. Out of 25 items, 72% ended with a profit. The biggest loss was on GBP / USD with 10.0 lots and was as high as -8 560 USD. The situation was saved by also significant profits - the most money was brought by the position on the HK50 in mid-May - until + $ 17. Happiness? Or maybe a well-thought-out and calculated risk? Hard to say. But the effect is electrifying and it is the best proof that:

"More does not necessarily mean better".

Shing capital curve. Forex competition "Trader of The Month" - May 2021.

Transaction history in numbers:

• Profit: 74 181,67 $
• Return: 1187,33%
• Total number of transactions: 25
• Profitable transactions: Present in several = 72%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for almost 5 years.

How did your adventure with Forex trading begin?

I was attracted to advertising by trading on Forex market, which were displayed when I checked the daily news on the investment website. Then, step by step, I started trading.

What is your trading style?

I would say mostly mid-term trend following and sometimes mean reversion when extreme market conditions are noticed.

Do you have any risk management policies?

Yes. An investment plan with a target price and stop loss is the first step of any successful trade.

What good habits should investors be fooled about?

One of the good habits is to try to create a trading plan before trading. Quickly reduce your losses and let your profits grow.

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

The best deal was the position on GBP / USD with a profit of $ 20000. I used a simple moving average and pivot point to follow the market trend and get a good profit.

What advice would you give to novice investors?

Try to control the lever.

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

Given the current post-pandemic era, any news could lead to a sudden spike in market volatility. Take these large fluctuations with equanimity and self-discipline.

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

There are four factors I always look for with a forex broker: Low trading costs like low swaps and spreads; stability of the trading system; platform reputation and ease of the deposit / withdrawal process.

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.