Trader of the Month earned in January the 55% rate of return [Tickmill Competition]

Trader of the month - January 2018

January is behind us. In a competition organized by a British broker Tickmill the best trader of the first month of the year 2019 was selected. The winner was Jiahao, who proved that the use of aggressive and highly risky strategies can be profitable. The result is a profit exceeding 23 500 USD and a monthly rate of return of 55%. Congratulations!

How trader traded the month? About this below. We also encourage you to have an extensive interview for Tickmill.

Effective transaction averaging

Jiahao decided to take a rather risky solution. As he admits in an interview, he prefers scalping, but also sometimes uses the Martingale strategy (progressive trading - increasing stakes in case of increasing loss). Systems of this type assume the realization of small profits from single positions, and in the case of the wrong direction, opening new transactions with a larger volume.

The main area of ​​interest were currency pairs, mainly EUR / USD, less often other majors, sporadically exotics such as CAD / JPY or AUD / JPY. Volume? Most often from 5.00 flights up. Rarely were transactions smaller. The strategy certainly required steel nerves. Collecting small profits on a single transaction with increasing rates, which at the peak of their time reached even 18 flights into position, required a lot of self-confidence. There were also worse times, but cutting the losses in time saves the trader from bankruptcy.

Jiahao started the month with a deposit of around 42 500 USD. He ended it with a profit of about 23 500 USD, increasing security by regularly ordering the payment of part of the earned profits. Most of the time, the capital curve was evenly up. A few stumbling blocks resulted in capital slippage on 3000, 4000 and even over 6000 USD in a series of lossy transactions.

Jiahao Capital Curve - January 2018

Transaction history in numbers:

• Profit: 23 519.38 $
• Return: 55.33%
• Total number of transactions: 170
• Profitable transactions: 85.88%

Statement trader (PDF)

Interview with a trader

How long have you been involved in trade?

I have been trading on the Forex market since 2 for years.

How did your adventure with Forex trading begin?

I got involved in Forex, because the market is open 24 / 5 and gives the opportunity to open both long and short positions. High liquidity of the market, high financial leverage of trade can improve the use of funds.

What is your trading style?

My favorite strategy is scalping.

Do you have any risk management policies?

Yes, practicing risk management, all traders should do it.

What good habits should investors be fooled about?

A good habit of smart traders is the ability to accept losses (respecting stop loss) at the right time, even if it is difficult. Always remember this quote: Where there is life, there is hope.

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

My favorite pair is EUR / USD, because it fits my scalping strategy, I can usually earn 50 pips on every position. I sometimes use Martingale strategy.

What advice would you give to novice investors?

I recommend practicing on a demo account, testing and finding your own strategy, and then applying it to live trading.

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

Macroeconomic information may cause rapid price fluctuations, which means potentially large profits and large losses, markets can be very volatile, so it is better to avoid trading during information events.

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

The reason I chose Tickmill:

• Strong regulation and security of funds,
• The commercial environment and server stability are right for my trading strategy,
• Convenient deposit / withdrawal options,
• Friendly customer service.

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.