Interview with the winner of Drag Trade contest

20 June, 2016

Those in search of extra income online often come to Forex market, but not everybody manages to become professional traders. Read the interview with the winner of Drag trade contest round 312 Alexander, to learn how he succeeded trading on financial markets. Congratulations once again! Apart from Drag Trade you also participated in other demo contest – Rally Trade. Which one of them did you like the most and why?


I like both of them, but Drag Trade is closer to my trading style as I am an intraday trader. I often place short term trades ranging from 10 to 50 pips – depending on the pair’s volatility.

In this round you traded USDCAD. Why did you choose the pair and what other instruments do you use?

I often trade USDCAD as it moves well on news and is heavily reliant on oil. For me, the main criterion of any trading instrument is its level of volatility. The wider the amplitude of fluctuations and the speed, the more interesting the trade is. My favorite instruments are GBP_JPY, GBP_NZD, GBP_USD, EUR_JPY, oil and gold. But it really depends on the day and fundamental factors - news for example.

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

I’ve been trading for over 5 years now. I became a trader just like many others – was looking for ways to make money online. I learnt everything on my own – was reading lots of literature, attending webinars, briefs and, of course, practicing. When it comes to financial markets, only practice makes perfect.

Is Forex trading you main source of income?

I would say so. Nowadays, trading is basically my main source of income.

Tell us about your trading strategy.

At the moment I trade using Price Action system and support and resistance levels. When the price gets into a narrow corridor then I use locked positions instead of stop loss. For decision-making I mainly use technical analysis and economic calendar.

I’ve tested many different trading styles over the years. Finally I kept the ones that suit me. Apart from  Price Action I also use levels and VSA (Volume Spread Analysis).

What do you think was your success factor in this round?

The round was tough, partially because there is always a lot of adrenaline and emotions involved in short term trading, as you need to calculate the time when the position should close as precisely as you can. In this round my calculation were correct.

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

Contests of Grand Capital are a great tool for testing strategies and different trading styles. They also allow you to feel the spirit of competition and, what is important, win a monetary prize. To all the traders out there I wish to never miss great opportunities!

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!


Source link  
Experience is best teacher for traders

We think that it is important for traders to learn from their own mistakes and for that reason we asked our contest winners to share their most cringing mistakes...

Grand Capital partnership program

Every year FXDailyinfo holds an online vote to determine the best Forex and Binary Options brokers. FXDailyinfo has been nominating Grand...

You can only learn trading fast with a mentor

Our new contest winners share their advice on how to avoid making the same mistakes over and over again...


Contest is a great place for experiments

Our new interview round-up features winners of Rally Trade, Drag Trade and Future Trade. The winners of our contests often share their...

Business Expo in South Africa

Grand Capital with partners held a business expo titled “Truth vs. Myth About Forex” in Klerksdorp, the largest city in North West Province in South Africa...

Business Expo in Klerksdorp, SA

On the 24th of February Grand Capital, together with our partners from Wealth for Life, are going to host a seminar in Klerksdorp, the largest city in North...


Grand Capital launches IB contest

Grand Capital will hold a new contest for partners Big team, which will take place between the 1st and the 28th of February 2018. All new and existing...

Future Trade contest results

In our new interview round-up read about the winners of Drag Trade, Future Trade and Rally Trade. This time the winners are quite an...

Interview with contest winners

The winner of the 392nd round of Drag Trade lives in India, works as a mechatronics engineer and has been trading on financial markets for about five years...

  


Share: