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Trial and error works best on Forex

Interestingly enough, our clients manage to find a creative approach even to such a mathematically precise area as trading. Often traders find simpler and more convenient solutions instead of those suggested by professional literature or trading classes. The winners of Grand Capital contests told us what instruments and strategies they prefer and what difficulties they had to face before they made their first profit.

Junaid Khan, Pakistan, the winner of the 482nd round of Drag Trade, received real $200

"My name is Junaid Khan, I am 28 years old and I am a civil engineer. I’ve been trading on Forex for 5 years, but not regularly. I like investing and I know how to make money on the foreign exchange market. I have my own strategies and place my trades only with particular positions. I’ve tried many ways of learning trading, but the method of trial and error works best. My goal is to achieve financial independence with the help of trading, and I don’t worry about the expenses it may entail. I’ve had both great trades and failures. In 2017, I earned $2,000 from trading gold. It’s not difficult for me to keep my emotions under control, I’m quite patient. I don’t panic if I lose money when trading; I always wait for the right time to open a trade. I came to Grand Capital because of their contests. In general, I think that brokers should be judged by their reliability, account verification speed and security. Working with a broker, you have to be sure your money can’t just disappear from your account. It’s important to be patient if you’re new to that field. Continue trading even if it hasn’t worked out for you yet. There is always hope!"

Hoang Thi Cam Tu, Vietnam, the winner of the 251st round of Rally Trade, received $500

"My name is Tu Haong, I’m 40 years old, I’m from Vietnam. I’ve been trading on Forex since 2016. I had known about financial markets for a long time before actually starting to trade at some point. Since then I have become a part of Forex trading community. I chose my broker and started to develop my trading skills. I spent a lot of time finding my own strategies and indicators. It’s embarrassing to admit, but my chart used to look like a rainbow, sometimes I couldn’t see the candles. Now I mostly use trend lines and Price Action. Trading is great because it can be done any time, anywhere, I can trade using my smartphone or tablet. I chose Grand Capital because of their contests, I also liked the demo accounts. The contest tour lasted two days, which was perfect for me, as I didn’t have to waste a lot of my personal time and it ruled out the possibility of winning by sheer luck alone. My advice for beginners is to focus on trading strategy and understand what makes the market change, before starting to trade on real accounts."

Igor Petrov, Romania, the winner of the 481st round of Drag Trade, received real $200

"I’m 33 years old, I work as a sysadmin, my hobbies include video games and trading. I think that one should never cease studying. The more I trade, the more I understand how difficult it is and how much should be taken into consideration. For now, I want to learn how to control my emotions (it’s the most important thing in trading), and earn more profit, of course. I like Grand Capital contests because they don’t take much time. My best trade was placed on the eve of the Scottish independence referendum. I was trading GBP/JPY and managed to earn quite a lot. To novice traders, I would suggest to take your time and practice more with demo accounts and contests."

About the Drag Trade tour that Igor participated in: I placed a trade with maximum lots and bought more as my balance increased. I think if I hadn’t done it, I would’ve taken the second place. Partly, it was just luck.

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