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Hello everyone,
It's nearly end of the month, just 4 trading days are left.
I thought it is a good idea to share someones successful trading history to motivate you all.
FXCM used to run a monthly contest back in 2011, between its real account holders.
Its called King of the micro, as it organized between micro account holders with minimum of 500$ or more in their trading account. The winner of the trading contest determined solely by its equity performance. The winner gets huge prize of 25K$. And I have chosen the best performer in this contest to show you.
In October 2011, the winner returns 12,725.31% on initial equity, which super amazing. The trader started with 1296$ and end balance was 39,745.08$ and plus huge floating profit of 126,481.20$ making the grand total of 166,226.28$.
The winner mainly traded on AUD/USD and EUR/USD pairs and I traced the month of the contest on AUD/USD chart below between 2 vertical lines.The green arrows are just for display not actual his trades, but its basically what he did.
The winner determined the mid term trend and took full advantage of the movement by trading on one side stacking trades as his equity rose. The same thing happened on EUR/USD. You can see it from his floating position which he was holding the whole month.
Also he did close some of his trades to retain profits on the way.
I'll show couple of the questions he answered in his survey after becoming a winner:
1. What pair do you prefer to trade?
EUR/USD and AUD/USD mainly, others pairs depend on technical setups
2. How long do you typically hold your trades?
Depend on market situation. Hold days or week in trending, scalp in range bounding.
3. How much time do you spend trading every day?
At least 4 hours.
4. What do you think your greatest weakness is as a trader?
Lack of discipline, can not handle either win or lose emotionally.
5. What one thing did you do or learn that pushed you over the top?
Take care of the downside risk, the upside will take care of itself.
6 What kind of personality do you think you need to trade forex successfully?
Being focus, always try to learn about myself.
7. What advice would you give to a new trader?
Make more mistakes and really learn from them.
I have attached the sources(contest results + account statement of the winner) below, the trading statement is pretty detailed so have a look at it at your convenience and I hope someone finds something useful from it.
FXCM King of the micro, monthly contest results from October 2011
Trade report of the Winner October 2011
Hope you guys found it interesting,
Gerelt-Od Tuvaansuren
It's nearly end of the month, just 4 trading days are left.
I thought it is a good idea to share someones successful trading history to motivate you all.
FXCM used to run a monthly contest back in 2011, between its real account holders.
Its called King of the micro, as it organized between micro account holders with minimum of 500$ or more in their trading account. The winner of the trading contest determined solely by its equity performance. The winner gets huge prize of 25K$. And I have chosen the best performer in this contest to show you.
In October 2011, the winner returns 12,725.31% on initial equity, which super amazing. The trader started with 1296$ and end balance was 39,745.08$ and plus huge floating profit of 126,481.20$ making the grand total of 166,226.28$.
The winner mainly traded on AUD/USD and EUR/USD pairs and I traced the month of the contest on AUD/USD chart below between 2 vertical lines.The green arrows are just for display not actual his trades, but its basically what he did.
The winner determined the mid term trend and took full advantage of the movement by trading on one side stacking trades as his equity rose. The same thing happened on EUR/USD. You can see it from his floating position which he was holding the whole month.
Also he did close some of his trades to retain profits on the way.
I'll show couple of the questions he answered in his survey after becoming a winner:
1. What pair do you prefer to trade?
EUR/USD and AUD/USD mainly, others pairs depend on technical setups
2. How long do you typically hold your trades?
Depend on market situation. Hold days or week in trending, scalp in range bounding.
3. How much time do you spend trading every day?
At least 4 hours.
4. What do you think your greatest weakness is as a trader?
Lack of discipline, can not handle either win or lose emotionally.
5. What one thing did you do or learn that pushed you over the top?
Take care of the downside risk, the upside will take care of itself.
6 What kind of personality do you think you need to trade forex successfully?
Being focus, always try to learn about myself.
7. What advice would you give to a new trader?
Make more mistakes and really learn from them.
I have attached the sources(contest results + account statement of the winner) below, the trading statement is pretty detailed so have a look at it at your convenience and I hope someone finds something useful from it.
FXCM King of the micro, monthly contest results from October 2011
Trade report of the Winner October 2011
Hope you guys found it interesting,
Gerelt-Od Tuvaansuren
