FXOpen has recently held the Asian Forex Championship that came to an end on June 27th. This competition has become one of the most exciting and large-scale events organized by the company within the popular ForexCup project. More than a thousand traders from different parts of the world joined to demonstrate their skills and compete for the prizes and bonuses totaling US$2,000.
Changhang Peng, a representative from China, came out on top, making 852% in profits during the Championship. He was awarded with a PAMM account of US$3,000, a real-money bonus for profitable trading, and the title of the Best Asian Trader 2014.
The ForexCup team had a chance to talk with the winner about his participation in the Championship, his trading strategy and experience in Forex, as well as his plans regarding the PAMM account.
FXOpen: “Could you please tell us a few words about yourself?”
Winner: “My name is Changhang Peng. I come from the Chinese city of Xiamen. I am married and have a family. I run my personal business.”
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 can’t say I have any special way in Forex. One day, I just thought why not try entering the market’ and I’ve become a part of the Forex community since then. I moved on, chose a single broker to work with – that was FXOpen – and focused on developing my skills further. I do remember my first trade: I picked the EUR/USD as a financial instrument for it.”
FXOpen: “How did you learn about the ForexCup competitions? Have you ever participated in contests organized by other brokers?”
Winner: “I came across ForexCup in one of my favorite forums. I’d never entered any Forex contest before so I decided to give it a shot.”
FXOpen: “What distinguishes ForexCup from other competitions in your opinion?”
Winner: “From my point of view, ForexCup holds excellent trading contests. They are almost perfect. The project’s website is a little bit slow at times but in general, I like it a lot.”
FXOpen: “This Championship was one of the biggest events in ForexCup history. What made you join this particular competition?”
Winner: “The answer is easy: I just wanted to try, nothing else. I joined the Championship without any hesitation. At the end of the tournament, I was really proud of myself.”
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 weighed. I analyze lots of different factors.”
FXOpen: “What are your favorite trading instruments?"
Winner: “During the Championship, I preferred NZD pairs. Honestly speaking, I use them in most of my trades.”
FXOpen: “Did you have any particular strategy at the beginning of the contest? Or, were your steps based on the current market situation?”
Winner: “Yes, I’ve worked out my personal strategy before the contest and followed it every time.”
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.”
FXOpen: “Do you have any plans on how you will manage your PAMM ECN account?”
Winner: “At the moment, I’m trying to get some information about it. First, knowledge; then decisions.”
FXOpen: “Will you participate in Forex contests again, following this exceptional performance?”
Winner: “Yes, sure! I’m going to participate again and again. It’s a great way to develop my trading skills.”
FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “Practice, practice, and again – practice! As soon as you improve your trading skills, you will become a success!”
The 2014 Best Asian Trader has once again proven that a passion to win is a key to great achievements. FXOpen would like to congratulate all of the participants and wish them every success in their future trading!
Follow the discussion on FXOpen Forum.