When is the right time to go for broke

April 6, 2016

The interview with our newest Drag Trade winner is here! Igor Kumurdzhi from Ukraine shares his success story which involves a risky trade which helped him to steal the victory from the race leaders and win $200. You will also find out about the difference between strategies for futures and currency pairs and the advantages that active contest participants gain.

Congratulations, Igor! We can see that you are no stranger to Grand Capital contests. Which ones do you like the most?

- That's true, I'm an active participant of Drag Trade, Rally Trade and Futures Trade. But I favour Drag Trade the most as I like trading currency pairs on short timeframes. Drag Trde only lasts for 1 hour and at the times when the trading is the most vivid. 

You have already taken the first place in one of our contests - Futures Trade. Do you use the same trading strategy for futures and currency pair trading? Or is it just pure luck?

First of all, this is trading in different timeframes, which really depends on the length of the contest. That is why if we talk about Futures Trade, we mean 30m - 4h timeframe. For Drag Trade 1m timeframe is more preferrable (not even 5m, althought preliminary prognosis is made for 30 min ahead).

Secondly, price forming for futures is less dynamic, but it is more unpredictable. It means that graphis analysis methods also differ. But still, I prefer currency pair, especially EURJPY, EURCAD, USDCAD.

During this round you placed 6 trades for EURUSD. You were buying with the frist 5, but the most profit was gained thanks to the last order to Sell. How did you determine that now is the right time to Sell with the highest volume? What was this decision based on?

  

I must confess that I was actually 20 minutes late for the 1hr contest. Lots of contestants were considerably ahead of me by that time. I anayzed the market for different pairs and timeframes as fast as I could and decided to go with EURCAD as it seemed the most dynamic to me.

Apart from that, right at that time on a minute chart it was quite clear that a reverse is about to take place. The next 5 trades were made in this direction. And the last one, the Sell order can really seem shocking for many so I will tell more about it:

Firstly, the first signs of the change were clear on the 1m Timeframe.

Secondly, based on my experience, right at this time (close to 5pm server time) there are often short-term changes in the direction of the price movements.

Thirdly, and this, i think was the breakthrough moment was my decision to "charge" the Sell order with the highest volume possible. I closed it once I outran the closest competitor and took the vicrory from him.

How many years have you been trading on financial markets? How did you become a trader?

About 5 years ago I became interested in trading on financial markets. I don't consider myseld a real trader yet, but I'm definately on my way there. Participation in contests like that is a major factor in my development.

Is trading your main source of income or it is just a hobby?

Trading is slowly becoming the main source of income for me. 

Which company's services do you also use? Why?

I don't participate anywhere except the contests. In the contests I hone my skills and train my will. And then I trade with the bonus funds on my real account.

Why did you choose Grand Capital as your broker? 

Frankly speaking, I like here a lot. Grand Capital offers attractive trading conditions, fast order execution and wide variety of services. But the main reason, of course, is the regular contests. 

What would you recommend to those who are just considering participating in the contest?

I would recomend to participate in the contests regularly, if possible. It is a great tool for training new strategies. All you need to win is to choose a suitable currency pair, implement good strategy and a strong desire to win!

I wish luck to all the traders our there!

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