Self-discipline and accurate market assessment. That’s what it takes to enter the hall of fame of the fastest demo-contest Grand Capital has to offer – “Drag Trade”. Trader from Russia Andrey Smolin proved that he deserves the first place beating all the other contestants in round 301. Read the interview to find out how:
Once again, congratulations to the winner!
How long have you been trading with Grand Capital and what Grand Capital services do you use most often?
- I’ve known Grand Capital for quite a while. My favorite service is, without a doubt, demo contests, because I never stop looking for the new profitable trading strategies and the opportunity to receive a real prize for trading demo is a nice addition to that.
Why did you choose to participate in Drag Trade contest?
- I like the contest because it only lasts for an hour and is suitable for short-term strategies I’m now working on.
What trading instruments do you prefer?
- As the majority of traders out there I prefer currency pairs. In the contest I traded CADJPY simply because I have a lot of experience trading that pair.
What trading strategy do you consider to be the most successful?
- It is hard to name just one, because one shoe doesn’t fit all. Every trader should choose the strategy depending on his or her personal qualities, such as self-discipline and the depth of market knowledge. As for me, I think that short term strategies work the best for my personality and my victory proved that.
Tell us a bit about the contest. I think that many of us want to know what your success factor was.
- It is a difficult question as I can’t compare my trades with the trades of other contestants. I can only say that I opened just two trades during the contest. It's just that I was really familiar with the pair I traded and increased the trade volume at the right moment. As a result, I managed to increase my initial deposit by about 40% and ended the round with the highest account balance.
Are you planning to participate in other contests of Grand Capital?
- Yes, I’ll go for Rally Trade next.
What would you recommend to those traders who haven’t yet participated in Grand Capital contests?
To those who are determined to win I would recommend to pick an instrument you are really familiar with. If you are a novice, then don’t be afraid of contests because contest account is a great way to practice a new strategy without losing own money.
And good luck to all the traders out there!
Drag Trade contest is one of the regular contests held by Grand Capital. Participation in all demo contests is free. Just receive the highest profit trading on demo account with initial deposit of $100 000 and become the next winner!