The summer of 2013 was notable for an outstanding event – The Asian Forex Championship –held within the ForexCup project. The event attracted approximately 1,600 traders from 53 countries in the Asian region, all competing for great prizes and bonuses provided by FXOpen.
All contestants demonstrated great trading skills, dexterity and a deep knowledge of market specifics. All results were achieved by the efforts of each participant, while some traders were awarded for their excellent performance.
Farid Ikram Bin Ahmad Zabidi from Malaysia won the 2nd prize. During eight weeks of trading he made an outstanding 1,355% profit. Small margins separated him from first place generally keeping pace with the eventual winner. Farid is a deserved 2nd prize winner and a PAMM ECN Account Manager.
We contacted this exceptional trader and asked him a few questions about his participation in the Championship and his trading experience in general.
FXOpen: “Could you please tell us a few words about yourself?”
Winner: “I am 28 years old. I am married with a cute daughter who is almost two-years old. I am from Perak, Malaysia. I work as an Assistant Technician Officer in Telekom Malaysia and my hobby is fishing.”
FXOpen: “Could you please describe your “way in Forex” i.e. how you began, developed, made your first profitable trade, etc.?”
Winner: “I started trading in Forex about 5 years ago, when a colleague of mine told me about this alternative source of income. Then I joined some Forex courses and thematic groups in Facebook. I made my first profit in 2011.”
FXOpen: “How did you learn about the ForexCup forex-contests? Have you ever participated in contests organised by other brokers?”
Winner: “I came across ForexCup when surfing one of my favorite forums. I’ve also participated in other brokers’ contests, but I was not lucky there.”
FXOpen: “What in your opinion, are the pros and cons of ForexCup competitions?”
Winner: “What I like about ForexCup most is that there is no need to deposit any money. The rules are clear and simple and the rewards are worth fighting for. Personally, I see no disadvantages.”
FXOpen: “This Championship was one of the biggest ForexCup events. What made you join this competition?”
Winner: “I should say that it was a real challenge for me. I knew there would be hundreds of participants and strong competitors from all Asian countries. But in the end I came second– and I assure you, I had no idea that I could win.”
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 are based on technical analysis, so, I have to think them over carefully. But as a human being I make risky decisions at times.”
FXOpen: “According to the contest statistics, a large percentage of trades were made on GBPJPY– is it your favorite trading tool? Why did you choose it? What other instruments do you prefer trading?”
Winner: “EURUSD is my favorite currency pair, but it is not that volatile, so, I settled on GBPJPY. Sometimes I used EURJPY, even though it was more risky but high risk means high return. As for live trading, I opt for gold.”
FXOpen: “You had just a few losing trades. Did it take you long to work out a profitable strategy? If so, what is the essence of it?”
Winner: “From my point of view a profitable strategy should be based on careful analysis and risk management. When participating in the contest I used the mix of two strategies: KGBS TS-Kang Gun Buyer Seller Trading strategy and my own strategy, but I am still working on it.”
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’ve got my prize - that matters. And I am happy about being a PAMM ECN Account Manager.”
FXOpen: “Do you have any plans for how you will manage your PAMM ECN account?”
Winner: “Yes, I have some plans. I want to develop the account, enlarge the balance and attract investors to it.”
FXOpen: “Will you participate in forex-contests again, after such a great performance?”
Winner: “As soon as I have some free time, I will join ForexCup contests again.”
FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “Do understand that you enter a risky world of Forex trading. Work on yourselves, control your emotions and try to avoid unnecessary risks. And remember that you can be successful only if you never give up – make it your motto. And I am sure, one day you will win!”