He earned 45 in September. USD - meet the new Trader of the Month [Forex Contest]

Forex - Trader of the month competition - September 2020

Longjun made a profit last month "Just" 50%, and yet it was hailed in the competition Tickmill as "Trader of the Month"Why? Certainly, this was due to a profit of over PLN 45 USD and high efficiency with a large number of transactions. The accumulated profit was gradually climbing up practically throughout the month. How did he do it? About it below.

Congratulations to the winners!

Check it out: The trader of the month earned + 450% in August

Currencies, currencies, currencies

Looking through the history of Longjun's transactions, you can see that he traded only on currency pairs. Interestingly, you can hardly see major pairs, and crosses dominate - AUD / NZD, AUD / CHF, NZD / CAD, EUR / GBP ... The volume was gradually increased and rarely exceeded 1 lot per position. It's also interesting considering that virtually every item had been set Stop Lossand the initial account was over USD 90.

It can be assumed that the risk was relatively small, but the positions closed at the beginning of September were opened in July and August. The SL was set quite far, so the risk of reaching it, especially considering the market volatility in the last dozen or so weeks, was extremely low.

Looking at the transaction times, the capital curve and the volume matching scheme, it can be assumed that Longjun used a strategy of the type martingale (safe) or grid (also conservative). Is it a bad thing if it works and is used thoughtfully?

Longjun capital curve. Forex competition "Trader of The Month" - September 2020.

Transaction history in numbers:

• Profit: 45 008,87 $
• Return: 49,46%
• Total number of transactions: 277
• Profitable transactions: 74,01%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for over 30 years

How did your adventure with Forex trading begin?

I started trading as part of my job which included currencies.

What is your trading style?

I try to calmly analyze the market situation. But when the opportunity to open a position arises, you have to be radical to get into a trade.

Do you have any risk management policies?

Yes, risk management is really important. The investor should refrain from opening new positions if the loss is greater than planned.

What good habits should investors be fooled about?

Try to stay calm during market fluctuations and analyze the situation logically.

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

The transaction concerned the GBP / USD pair. Take your time to take a profit when the market trend is really strong. The trader can wait for the trend to weaken slightly and then close the position. While he won't close the position at the peak, his profit may be greater.

What advice would you give to novice investors?

It is imperative that the new trader has a good understanding of the basic and simple logic of trading so that he can analyze the market situation more easily and logically.

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

Investors should pay attention to every detail and try to avoid opening large positions.

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

I like it Tickmill because it has a secure payment environment.

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.