Alpari would like to congratulate the winner of Round 79 of the Formula FX contest: Oleg Danilov from Gomel. Despite competing in the contest with the nickname "LOSER", Oleg was able to hold on through the end of the round and pull out the win.
"I was actually quite surprised by my performance. I do plan on competing in the contest again, but I really doubt that I’ll be able to match my success. Fortunately for me, gold wasn’t really all that volatile for the first two days. This led to gold really opening up after that, allowing me to capitalize on the margins," explained Oleg. "There were a couple of times where my margin level dipped below 30% and I was on the verge of having my position closed out, but I held on and beefed up my short positions. From 1,715 to 1,725, I started to buy again. After that, I switched back to selling. I had taken part in the contest a couple dozen times before, but I had only managed to make it into the money twice. This was my first win and I’m really excited about it. I’d like to thank Alpari for holding the contest and encourage future contestants not to let up!"
Just to remind you, each round of Formula FX is only a week long. The winner in the contest is the trader with the highest percent return at the end of the round. The next round of Formula FX begins December 10, 2012. Sign up today for your chance to win the 400 USD grand prize.