Trader of the Month with a profit of over 64 thousand. USD and 100% efficiency in February 2023 [Forex Contest]

Forex - Trader of the month competition - February 2023

Consistency and gradual capital increase with regular payouts of profits with 100% effectiveness. This is the strategy that brought a trader from China the title of trader of the month in February 2023 and over $64 in profit. He also received an additional bonus, which is a $ 1000 bonus and showing above-average skills in the competition Tickmill. How did he do it? About it below.

Congratulations to the winners!

Check it out: Trader of the month earned 89 thousand. USD in January 2023

Consistently forward, 100% effectiveness

Looking at the transaction history of a Chinese trader named Lujun, the first thing that catches the eye is the lack of any drawdowns (in the chart below, these two drops are deposit withdrawals). Practically from the beginning to the end, the value of the account was gradually increasing. And it cannot be a coincidence, because the "good streak" lasted for nearly 300 transactions, and the effectiveness of profitability was ... 100%. how come?

Trading was mainly on cross pairs, gold and US30, i.e. CFDs on the American index Dow Jones 30. Certainly, the quite conservative management of capital contributed to the success. For the amount of funds in the account, the volume per trade was rather low. Of course, after adding up all open positions at one time, the numbers were usually more substantial, but it's still hard to talk about the approach all in.

If you follow our recaps regularly, it shouldn't surprise you that virtually no positions had orders set Stop Loss. Take Profits were also practically non-existent. So how did Lujun approach risk control? Regularly paid out larger profits (once $20, once $18). If he stumbled, he was left with nothing.

But how long can such a good streak last? Unfortunately, we only see closed positions in the transaction history. We don't know if the trader is holding many open positions that have a negative balance. Perhaps the corpses from the wardrobe will only start to fall out? And perhaps we will hear about Lujun in the next editions. We keep our fingers crossed for it!

Lujun capital curve in February 2023.

Transaction history in numbers:

• Profit: $64 713,15

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading on the Forex market since 5 for years.

How did your adventure with Forex trading begin?

I got involved in investing on the Forex market thanks to the recommendation of a friend. Prior to Forex, I had experience in stock investing and financial management.

What is your trading style?

My trading style is trend-following. Technically, it will change depending on market conditions. In short, it just follows a big trend and then looks for an entry point.

Do you have any risk management policies?

Yes, I include risk management, but I'm not good enough with risk management.

What good habits should investors be fooled about?

I believe that smart traders should trade instruments they know, not take risks on uncertain trends, and never make money beyond their knowledge.

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

My most memorable trade was when USDJPY fell from a high last year. As such, I shorted USDJPY and other yen pairs at very high levels. I made a lot of money during that time.

What advice would you give to novice investors?

For Forex beginners, my suggestion is to practice on a demo account and then trade on a live account after gaining more experience.

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

I think it's important to pay attention to major news events and anticipate their impact on the market.

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

For me, the most important things are security of funds, speed of trading, fast deposits and withdrawals, and low costs.

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.