Trader of the Month earned 108 thousand. USD in December 2022 [Forex Competition]

Forex - Trader of the month competition - December 2022

Over $108 in earnings in the slowest month of the year. A trader from Hong Kong named Ka showed that the impossible does not exist and achieved such an amazing result starting practically from scratch. So he definitely deserved an extra bonus, which is a $1000 bonus and the title Trader of the Month in the next edition of the competition Tickmill. How did he do it? About it below.

Congratulations to the winners!

Check it out: Trader of the month earned 94 thousand. USD in November

Hundreds of Eurodollar transactions and regular withdrawals

Looking through the account history of the trader of the month, several things immediately catch the eye. The most important thing is that he started the month with a deposit of $200 ($206,12 to be exact). What else? There are hundreds of transactions, all on eurodollars, none of them are fixed Stop Loss, and practically every one has a defined Take Profit. It was used for that pyramidal and used 100% leverage practically all the time. So how did he manage to trade so successfully? After all, it sounds like the complete opposite of what they teach in books or what common sense tells them.

First of all, it should be noted that Ka used pyramiding, but at the same time its safest form, i.e. descending pyramiding. It consists in the fact that we start with a high flight, and subsequent positions are selected with a smaller and smaller volume (however, there have been selections of positions with the same flight). But, despite everything, the question arises - by what right did all this have a chance to work? The approach to risk management was crucial, and several factors contributed to this:

• all positions were closed on the same day (very often pyramid schemes lasted a maximum of several minutes);
• Ka paid out the profits he earned regularly, and added small sums to the account when needed;
• it specialized in one market and traded in a fairly quiet month (the amplitude of EUR/USD fluctuations in December amounted to approx. 250 pips).

Looking at the volume used, it can be concluded that the trader used the so-called "stop loss on capital", i.e. he risked everything he had on the account, but thanks to regular withdrawals, he ended the month with a deposit of 26. USD, while he earned "clean" over 108 thousand. USD (remember that it started with USD 206).

Consistency, determination and resistance to stress are admirable!

Transaction history in numbers:

• Profit: $108 280,90

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

7 years.

How did your adventure with Forex trading begin?

I joined a course on financial management and investing.

What is your trading style?

Day-trading.

Do you have any risk management policies?

Tak.

What good habits should investors be fooled about?

Self-discipline is much more important than analysis.

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

I was trading EUR/USD right after the NFP data release and made $1000 in profit in one minute by placing a buy and sell order one minute before the data release.

What advice would you give to novice investors?

Trading is a lifelong process.

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

The CPI figure has a greater impact than the NFP figure.

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

Its spreads, speed and ease of deposits and withdrawals.

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.