The trader of the month earned 130% in June 2021 [Forex Contest]

Forex - Trader of the month competition - June 2021

Over 100% a month - sounds like a dream? The traders of the month regularly show that this is possible. Longjun received the title "Trader of the Month", twisting in June dizzying 129% of the profit in 140 transactions, increasing your account balance by over $ 50. At the same time, it showed a stunning effectiveness of 96%. How did he do it? About it below.

Congratulations to the winners!

Check it out: The trader of the month made a profit of + 1200% in May

Eight brought luck?

Is the number 8, which is considered lucky by the Chinese, to be justified in the transaction volume? The trader of the month doesn't mention it so it's just our guess. However, the fact is that the volume of each position ended with an eight. And almost every transaction was profitable. This cannot be a coincidence :-).

Of course, the capital curve reveals more. Transaction pyramiding, high efficiency and clear capital drawdowns are the effect of the application grid strategy. But does the grid earning have to be bad too? More than once the winners of the series "Trader of the Month" proved that it does not have to be that way. There are few losing trades, but they can be painful. However, the key is proper capital management. Longjun paid out realized profits, continuing its strategy throughout this period. Items were held from minutes to days, never set stop loss, but there were some TP orders. Considering the account deposit, he didn't overdo the positions. He focused on currencies - from majors to less popular crosses. It is impossible to deduce the specific assumptions of the strategy, but after the transactions you can see that the main goal was to close the position at a profit - no matter if a few minutes, hours or days had passed. Insisting on one direction? Only seemingly. After a series of longs, suddenly a short was opened - of course, on the same pair. All realized profitably in just a few hours. Chaos, or maybe flexibility in the approach to trading, combined with an unconventional view of trading? There was no doubt that the risk was high, but it paid off.

Longjun capital curve. Forex competition "Trader of The Month" - June 2021.

Transaction history in numbers:

• Profit: $52 602,01
• Return: 129,59%
• Total number of transactions: 140
• Profitable transactions: 96,43%

Trader's transaction history (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading for over thirty years.

How did your adventure with Forex trading begin?

I started investing on Forex marketbecause my job requires me to do currency hedging to manage currency risk at work.

What is your trading style?

Sometimes I invest slowly, sometimes radical. It depends on the market situation and my risk management.

Do you have any risk management policies?

Yes. I generally stop placing new orders if the predetermined value is exceeded.

What good habits should investors be fooled about?

Smart traders should try to use common sense no matter what happened in the market.

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

I tried not to take a profit too early as the market was moving upwards. Although I was unable to catch the highest price, as the price corrected a bit, I closed positions and made a big profit. With this strategy, I made a lot of USD / CHF trading.

What advice would you give to novice investors?

The new trader needs to learn technical analysis. The foreign exchange market is constantly changing, but the basic principles of trading are really important.

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

It is best for traders to pay attention to the news and try to control risks in advance.

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

Security of deposits and speed of funds 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.