Albert Nasretdinov has claimed victory in the 35th round of our King of the Hill competition. We congratulate Albert on his victory and we conducted a short interview with him, which we’ve shared below. We hope that it will be useful to those thinking of trying their hand at binary options trading.
Have you been taking part in this competition for long, or was this your first attempt?
I’ve taken part in this competition every time since I found out about it. I’ve been with Alpari for 3 years because they offer excellent trading conditions and lots of bonuses. I often claim a prize-winning place and I’ve won the last three rounds outright.
Does the thrill of competing in a competition help your trading, or does it hinder your concentration?
The thrill is gone; I’ve already passed that stage. Now my timing is better; I know when to trade and when not to. Another important thing I’ve learned is that you shouldn’t trade when you don’t understand the market situation.
Tell us about your biggest loss and biggest gain
I’ve suffered a lot of losses, and made a lot of profit as well. In fact, all traders suffer losses, but the main goal, in my view, is to outweigh them with profit. You just need to earn more than you lose. If I remember correctly, the biggest profit I’ve ever made on an initial deposit was over 2000%. I try to manage my funds in such a way that I don’t lose more than 30% of my initial deposit in any one day.
Do you have any special method to help you determine the direction of a trend? Could you share it with us?
I prefer working with shorter timeframes and my strategy involves looking for entry points counter to the trend. As such, the trend itself is unimportant. What’s important is finding robust price movements with kickbacks, working inside the channels, and trading on swings and Fibonacci levels.
Do you think that trading is for everyone? Or is there a certain type of person you’d advise against currency trading?
I can say from experience, and from having spoken to a great number of traders, that trading is not for everyone. Anything is possible, though, of course.
What do you do when you’re not trading? Do you have any hobbies?
I only have one hobby; my family. I spend all my spare time with my wife and children. I also read a lot.
What advice can you give to other participants in the King of the Hill competition?
My only advice is with regards to finding the right entry point. There are three criteria I look at before opening a trade. 1) Price behaviour (candlestick formations, with a focus on how they formed and how intensive the price movement is). 2) Level accessibility. 3) Your own personal criteria that you use for trading, whether it be the position of some indicator or the alignment of the stars above. Only if these 3 criteria are fulfilled can you open a trade with at least 90% certainty.