All traders know that with any crisis come seeds of opportunity because those wide market fluctuations present a huge opportunity to earn big, not traders are willing go for it though. Roman Vasin – the winner of round 320 of Drag Trade contest told us why he is not preparing to trade during the referendum and which strategy he thinks is the most profitable.
Many brokers out there offer contests for traders. Why did you choose Grand Captial?
I was looking for a trustworthy broker and one day I came across Grand Capital and noticed that you have great contests that help to easily learn almost everything you need to know about a broker. One of the biggest advantages of Grand Capital contests is that you don’t need to register separately for each round.
We can see that you often participate in Drag Trade and Rally Trade contests. Is your trading style the same for each of the two contests or you have two different tactics?
The tactic is different for each contest. Otherwise, you can’t reach the desired outcome.
In this contest you traded a currency pair (GBPJPY). Have you tried trading CFDs or Binary Options? What do you think about these instruments?
At the moment I am still learning about these instruments so I can’t be certain about anything yet.
Do you know about the coming Brexit vote? Are you preparing for this event in any way? How?
Of course, I know about the referendum, but I am not preparing for it as I may lose my nerves as well as my deposit.
In this round you opened many orders with volume of 1-2 Lots, but for some of them the volume was really high – 60 or 80. Why?
It is because of the tactic that I used in the contest.
Tell us about your tactic.
In Drag Trade my choice was based on Linear Regression Channels. It’s just that the main tactic that I use is scaled for H4 chart, so the trade should last from 4 hours up to 1-8 days. I had to modify it for trading in 1-5-15 min ranges for the contest. That is why I sometimes used such high volumes.
Is Forex trading your main source of income?
No, it is not. Although the profit I receive trading is slowly starting to overweight my main income.
Tell us about how you came to Forex – how did it start and how long have you been trading?
It all started during the 2008 crisis. I had to start searching for additional sources of income and in 2009 Forex became one of such sources. There were ups and downs, a lot of learning, phycology and much more. I like trading because the market teaches you something new every day.
What would you recommend to those who are just going to participate in the contest?
Contest is a great chance to try a trading strategy or a new asset. Even if you already have a strategy, contests will help you hone it.
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!