One of our clients and PAMM account managers, Andrey Shevelev, has managed to achieve upwards of 25,000% profit on his PAMM account, smashing the previous record of 14,000%.
How he managed to achieve such results, what the daily life of a trader is like and what mistakes novices should avoid are all discussed here in our interview with Andrey:
Tell us a little about yourself: have you been trading for long? Where did you start? What kind of educational background do you have and did that help you in your work in Forex?
My education was in Humanities. In 2002 I graduated from Irkutsk State University from the department of Social Sciences, specialising as a social worker and psychologist. This did help me indirectly in several ways. First of all, it instilled a desire within me to work for myself. Secondly, after my studies, I worked in the Pension Fund, where some of my colleagues were involved in stock trading. And so, from 2002 to 2004 I got my first experience of trading on the stock exchange (MICEX). After that, I was forced to take a break from trading. I entered the Forex market in 2011, and have been completely immersed ever since.
What made you decide to open a PAMM account? And why did you choose to do it through Alpari of all people?
I think I was lucky because I came across Alpari immediately after entering the Forex market. As I started gathering information, I came across Alpari's Partner Program, which was, and still is in my opinion, one of the best resources out there. I was lucky because, out of the most popular companies that target Russia, Alpari was the only one that offered a quality product as opposed to simply aggressive marketing (although my time with Alpari hasn't been all smooth, I've done my share of cursing on the forums). When I found my trade, it became obvious to me that I needed to open a PAMM account because it's a genuine opportunity to grow your capital very quickly from a relatively small deposit. Moreover, having a social worker's background, it's a nice thought that my successful trades are helping other people earn their own money.
Is trading your primary occupation?
Trading has been my primary and only occupation for several years now. There is one problem with this. I work from home, and so I hardly ever see anyone apart from my family. Sometimes I compensate for this by chatting on the forums.
As a beginner, did you ever imagine that over a thousand investors would trust you with managing their funds?
Of course, I did. Otherwise what would have been the point in opening a PAMM account?
Speaking of investors, how do you deal with the automatic correction of positions when funds are deposited or withdrawn?
Over half of my funds are in small investment accounts. Positions aren't held for long, usually up to a day, and the risks are moderate. Even if someone suddenly withdraws half their funds, which I think is unlikely, nothing terrible will happen.
What is the basis for your trading strategy? Do you use technical analysis? Is it important for you to enter the market during a particular session?
Robots, meaning technical analysis. I use fundamental analysis more as a filter. For example, the proximity of the news and the time of day for trade.
From your PAMM account timeline, it's clear that the deals on there often last several hours, and that in the second hour the number of open positions roughly doubles. Is this an average, or do you enter the market using a different instrument?
If I understood you correctly, it goes like this: after a significant price movement (a long 15-minute candlestick, for example), the robot opens a new position. If there is no rebound, then after the next candle closes, it opens another, and so on up to 3 times. I don't use any kind of averages, it's more of a topping up. Stop Losses are short, so if the price rebounds, the position closes and no new ones are opened.
You chose to open a PRO account. Tell us why you chose this one specifically. Do you use the settings available on this account type?
Because you always get a quick and detailed answer from company specialists about execution on this account type. The execution for market accounts was pretty good, and now for this one, it's absolutely brilliant, which makes me happy. I don't use the settings, there's no need. I used to use the permissible slippage limit and stop activation on the other side of the spread (I think that's how it's called).
Having many years of experience under your belt, what advice would you give to those who are just thinking about making their own trades?
- Don't believe for a second when people tell you that to earn money on the currency market, you must have a big deposit. You should only risk money that you can afford to lose.
- Don't use everything at once (trading systems, robots, approaches, intuition) on one account. It's better to have your account drained using one method, and clearly understand that it doesn't work than to have your account drained (with several variables at play) and not be able to understand why or how it happened.
- You must use independent trade monitoring services to analyse your trading activity. And to investors, you should only trust the trade monitoring - such as the ones found on PAMM accounts - and not the kind words of managers.
What are your plans for the future in your capacity as a PAMM manager, and what would you like to wish investors in the new year?
To keep trading. I might open some new accounts under a new strategy. To investors, I can wish you only profits, as well as health and longevity so that those profits may be enjoyed.