The start of the year 2014 was marked with the Chinese Forex Championship held by FXOpen at ForexCup.com became one of the most significant events of the beginning of 2014. The event became notable for its favorable trading terms, allowing traders from all over the world to compete for various bonuses provided by FXOpen.
According to the contest rules, only traders from China qualified for the main prizes and Chuan Feng Lin became the Championship winner and the holder of the Best Chinese Trader title. Over the 8 competition weeks he made a 1060% profit, and received a PAMM account with a US$3,000 deposit in reward.
ForexCup team had a chance to talk with the winner about his participation in the Championship and his trading experience in general.
FXOpen: “Could you please tell us a few words about yourself?”
Winner: “My name is Chuan Feng Lin, I am 40 years old. I live in China, in Ping Tan. I am married and I work in the seafood industry.”
FXOpen: “Could you please describe your “way in Forex” i.e. how you began, developed your trading skills, made your first profitable trade, etc.?”
Winner: “I started trading in 2012, not so long ago. So, I can’t consider myself a very experienced trader. It all started with a pure interest in the growing Forex industry – as for many other people at that time, I think. Unfortunately, I do not remember the very first trade because I made hundreds of them.”
FXOpen: “How did you learn about the ForexCup competitions? Have you ever participated in contests organised by other brokers?”
Winner: “I came across ForexCup ads on the Internet. By that time I had already gained some contest experience by participating in other projects.”
FXOpen: “What distinguishes ForexCup from other competitions in your opinion?”
Winner: “From my point of view ForexCup holds excellent trading contests. One of the main advantages is sizeable prize and bonus funds that are much bigger than those offered by other companies.”
FXOpen: “This Championship was one of the biggest events in ForexCup history. What made you join this particular competition?”
Winner: “I didn’t hesitate at all and easily joined the Championship. I was not worried about the scale of the contest and all I wanted is to try my hand in this tournament.”
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 considered and weighted. But I also took risk.”
FXOpen: “What are your favorite trading instruments?"
Winner: “I prefer non-USD pairs, because they volatile and show interesting dynamics.”
FXOpen: “Did you have any particular strategy at the beginning of the contest? Did it take you long to work out a profitable strategy? If so, how would you summarise it?”
Winner: “I didn’t have any prepared strategy. All my steps were based on the current market situation.”
FXOpen: “You have been awarded with a PAMM ECN account with a healthy deposit – Are you satisfied with this type of reward, or would you rather prefer prize money?”
Winner: “Honestly speaking, I would take “live” money like, I am sure, other people would.”
FXOpen: “Do you have any plans on how you will manage your PAMM ECN account?”
Winner: “I want to develop the account so that it could help me make profit. I don’t want to miss an opportunity to become a good PAMM Manager.”
FXOpen: “Will you participate in forex-contests again, following this exceptional performance?”
Winner: “Yes, sure! Right now I believe in myself I have all chances to win again.”
FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “Keep on training, improve your skills and believe in yourselves – you will definitely win! Good luck!
The Best Chinese Trader has once again proved the fact that self-confidence and determination are key to winning. FXOpen would like to congratulate all the participants and wish them every success in their future trading!