Xinghua showed excellent account and risk management skills in December 2015 and got a $1,000 prize!
Read Xinghua’s interview and see his account statement to make your own success story
For how long have you been trading?
I started trading on Forex market at the end of 2006, I have been trading Forex over 10 years. I started trading on Forex market due to work reason at the time.That got me attached with Forex. I really like Forex trading and enjoy the sense of accomplishment after successful trade.
What instruments do you prefer to trade and why?
I like to trade EURUSD and Gold. EURUSD is relatively stable. It’s perfect for stable earnings. And gold is volatile and with gold there is better chance to earn more profit. I am always carefully choosing my entry points on gold.
What schedule (trading hours) do you have for your trading?
I do not have a specific trading schedule. I analyze the entry price and expected profit target, then enter the trade once the price reached. My favorite trading time is after 8:30, because I only need to spend a little time to get profits. This time also has a relatively small impact on the mentality.
Did you receive personal training from other traders or did you mainly educate yourself on your own?
Yes, I have been received a period of technical training in Forex trading when I was in Forex company. Best method to learn is to trade on real market, because the market is the best teacher. Theories need to be verified in actual market. Only in actual market can find really trading style and trading ideas to suitable myself and become my own trading methods.
What do you consider the best type of education for a trader?
The best way is practical in the real market. There is no easy way to succeed in Forex.
Do you create your own strategies or use the ones that already exist? Can you briefly describe your strategy?
After so many years of trading, I already have my own style, formed by my own system, now I’m trading with my own strategies. My strategy is simple, I called it “erudite and informed”, that is, through analysis of past market trends, to analyze the current market, estimated the probability that “history will repeat itself”, then I can find the basis and justification to make a trade. I always have a Plan B, when Plan A does not work out then plan B helps to ease the loss of potential trade. There is no 100% winning percentage, do not expect that each trade is profitable. Most important things is to find good profit probabilities.
What is the most important quality a trader should have?
I think that the most important quality of a trader is self-control, calm and decisive. First of all try to control yourself, don’t do impulse to trades. Then, like a hunter, waiting the targets within your range and there is a great opportunity presents itself then pull the trigger. Markets presents many good entry points.
How do you deal with losses, does it have an emotional impact on you?
We must recognize that loss is part of the trading, no one can get 100% profitable trades in Forex market. Forex market has several decades of history, and every day it generates many chances. After get big loss, a lot of people continue trading in order to earn the losses back immediately. If you trade with a feeling of vengeance, will make you irrational decisions so the results are obvious you will get another loss.
Are you satisfied with our service and is there anything we can improve?
Tickmill has best trading conditions which I experienced. Tickmill is focused to provide a good trading conditions and that catches attention. Lower trading costs are offering investors more suitable trading environment. Tickmill’s reputation is very good, I think other Tickmill traders also agree with me. I hope Tickmill continue to maintain this state of practice and eventually become the strongest in industry.