Trader of the Month with a profit over 83 800 USD in May [Tickmill Competition]

Trader of the month - May 2019

In a competition organized by a British broker Tickmill the best trader for the month of May was selected. An investor named Barney cashed the top prize of $ 1000. However, it must be admitted that this is only a small percentage of what he earned in the market. In the last month, Barney managed to multiply his account balance five times and thus earn almost 5 dollars.

Congratulations!

What strategy did he choose? About this below. We also encourage you to read the extensive interview given to Tickmill.

Over 500% profit in 1142 transactions

The statistics are impressive. The output deposit has been multiplied over 5 times and with very high efficiency, reaching almost 80%. There is also no case, because the history of transactions reaches over a thousand items. What can we read from it?

Euro, Euro and… Euro. All transactions were made on only this one currency pair. The more you can rub your eyes in amazement. How was it possible to achieve such a high rate of return on an instrument that has recently been characterized by extremely low volatility and has been moving in a sideways trend? The range of EUR / USD movement throughout May did not exceed 160.0 pips. The answer is… volume.

Trading began with 5.0 flights, but over time the volume was raised to 6, 10, 11 and even 12.0 flights per transaction. Barney did not insist on any of the directions for a whole month. On the contrary, he found a good place in the eurodollar consolidation and often changed sides. Profitable transactions were kept much shorter than lossy. Profits were usually made during 1-2 hours, while the most severe losses were closed after more than 24 hours.

Barney must have nerves of steel. In the account history, 3 can see stronger capital lands. In the second week of May he gave almost 80% of earned profit, and a week later for a moment he was even in the red, giving over 23 000 USD profit. Despite this, he quickly recovered and began to multiply the deposit successively. Interestingly, for the entire month he only commissioned two payments with a maximum total of 12 000 USD.

No other conclusions can be drawn - the risk was considerable. But it paid off.

Barney Equity Curve - May 2019

Transaction history in numbers:

• Profit: 83,820.35 $
• Return: 517.17%
• Total number of transactions: 1142
• Profitable transactions: 78.72%

Statement trader (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading since about 3 for years.

How did your adventure with Forex trading begin?

I started as an investor on the stock exchange, which is not related to currency exchange. Forex seemed more interesting to me because you can play both increases and dips.

What is your trading style?

I mainly use technical systems. However, not all markets are driven by technical analysis, so I have to be prepared for sudden events. That's why I first consider the marginal coefficient I want to use and divide it by the size of the contract with 1 / 10. If the price changes to the desired technical level, the position will be closed.

Do you have any risk management policies?

Usually, I set a loss limit at the time of the transaction, but I usually close the position at 20 loss% of assets. It is difficult, but it can not always be a plus.

What good habits should investors be fooled about?

A good habit is quickly forgetting about the last transaction. It does not matter if the transaction was profitable or lossy. It is important to focus on the next order.

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

I remember the transaction on which I noted a profit over 100. Profit was not too big, but I was very happy with the result. Technical analysis has been proven.

What advice would you give to novice investors?

The most important thing when trading on the forex market is to keep the mind clean. As you know, the forex market is profitable and lossy positions. It is important to remember this and keep calm.

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

The greatest challenge is the current trade war between the United States and China. The interest rates in the US are equally important.

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

The most important factor to consider when choosing a broker is its stability. The spread is also important.

I believe that Tickmill is one of the most stable brokers, offers low spreads, so I use and recommend Tickmill to other investors.

competition rules

The winner of the competition is selected by the 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.