Three “T” of Traders’ Success from the 3rd Prize Winner of Asian Forex Championship
Asian Forex Championship has become the most outstanding forex-contest, recently held by FXOpen. Hundreds of traders from 53 Asian countries have fought for the main prizes provided by the broker.
Three strongest participants were awarded good financial bonuses along with PAMM ECN accounts registered with FXOpen.
The 1st and 2nd prize winners have already shared their impressions of the contest and finally, the third place keeper has agreed to reveal some of his trading secrets. During the Championship the trader made 1294% of profit for which he received a PAMM ECN account with $US1,020 in it.
FXOpen team have contacted the trader and asked him a few questions.
FXOpen: “Could you please tell us a few words about yourself?”
Winner: “My name is Sensenati. I am 30 years old and I am married. I am from Jordan, I live in Tabrboor city. I work in the Interior Ministry of Jordan.”
FXOpen: “Could you please describe your “way in Forex” i.e. how you began, developed, made your first profitable trade, etc.?”
Winner: “Two years ago one of my friends told me about his experience of Forex trading. It seemed interesting to me and decided to join some Forex courses here in Jordan. I also took private lessons of Forex trading.”
FXOpen: “How did you learn about the ForexCup forex-contests? Have you ever participated in contests organised by other brokers?”
Winner: “I have come across the mentioning of ForexCup in some online ads and immediately decided to try. Some time ago I tried forex-contests organized by other broker. That’s why I decided to join the Championship – I had enough confidence in myself.”
FXOpen: “What in your opinion, are the pros and cons of ForexCup competitions? What would you change in the project?”
Winner: “What I like about ForexCup most is that it provides a trader with everything that is needed i.e., it’s easy to register for a contest; all competitions are well organized while trading terms are favorable and attractive.
As for the weak points, I would mention a fixed leverage, the necessity to register at FXOpen forum and the restriction of “no more than 5 positions at a time” – that’s what I think worth changing.”
FXOpen: “This Championship was one of the biggest ForexCup events. What made you join this competition?”
Winner: “I had a strong desire to participate in the contest – that’s how I decided to join the Championship.”
FXOpen: “How did you make your trading decisions? Were they informed, risk averse or did your actively pursue risk?”
Winner: “Most of my trading decisions were carefully thought over while based on technical analysis, news and indicators. But I also took up risk and I liked it.”
FXOpen: “According to the contest statistics, you have made 25 trades, of which a large percentage belongs to JPY. Is it your favorite trading instrument? Why did you choose it? What other instruments do you prefer trading?”
Winner: “I have settled on JPY pairs as they are usually more volatile than others. As for my regular trading habits, I prefer gold.”
FXOpen: “All your trades were profitable. Did it take you long to work out a profitable strategy? If so, what is the essence of it?”
Winner: “My trading strategy is based on indicators, news trading and technical analysis. Actually, I am still working on its improvement.
FXOpen: “You were awarded with a PAMM ECN account with a healthy deposit – Are you satisfied with this method of reward or would you prefer prize money only?”
Winner: “I am glad to become a PAMM ECN account Manager, because I have never tried ECN trading before. I hope I will be successful in it.”
FXOpen: “Do you have any plans for how you will manage your PAMM ECN account?”
Winner: “I want to try not only managing, but also investing in a PAMM. And I will also offer my family and friends to join me.”
FXOpen: “Will you participate in forex-contests again, after such a great performance?”
Winner: “I am sure I will, because ForexCup contests are great experience for any trader.”
FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “you should be disciplined in everything related to trading. Work on yourself and don’t be greedy. If you want to invest, use only the money you can afford losing in case of a failure. Remember that trader’s success is based on three “T”: training, training and again training.”