The Interview with the winner of the Asian Forex Championship

The end of June 2014 was marked with the finish of the Asian Forex Championship. More than a thousand of traders from all Asian countries took part in it.

The Championship was a real challenge for all participants. Actually, it became one of the most large-scale events in terms of ForexCup. Here is the statistics:

  • The number of participants totals 1251 traders
  • The best result of the contest is 852% of profit;
  • The incredible main prize is US$3000;
  • As for the bonuses — the bonus fund was shared among 195 participants;
  • And the contest provided all participants with priceless experience, knowledge and skills — that is something that can't be estimated in the money equivalent.

The main intrigue of the contest was the name of the winner. So, the Best Asian Trader 2014 is Changhang Peng from China. In his 30th anniversary contest the talented participant managed to make 852% of profit and received the desired victory.

ForexCup team was lucky enough to ask the leader of the contest a few questions and find out his attitude towards trading, his personal trading strategy and plans about managing PAMM account he received.

Check out the interview below.

1. Could you please tell us a few words about yourself?

My name is Changhang Peng. I come from Chinese city Xiamen. I am married and have a family. I have a business and run my personal company.

2. Do you have your personal "way in Forex"? Could you please describe what your first incentive for trying Forex trading was? What did you start with? Do you remember your first trade?

I should say I don't have any special way in trading. Once I have decided to try and enjoy being a part of the Forex market. So, I continued, then chose FXOpen and started developing my trading skills and strategies. I exactly remember my first trade, I chose EUR/USD for it. 

3. Do you have someone or something encouraging you to upgrade your trading skills day by day?

The main thing in my life is my family. All of them support me day by day and give me all necessary emotions and encourage me.

4. What is trading to you: the main source of income or just a nice pastime, which helps you earn some money? Are you fully devoted to trading?

I enjoy trading, but all in all it's a nice pastime to me. I give it some part of my usual day and get some profit as a reward.

5. Do you trade in a real account? Are you successful in it?

I have a real account and constantly trade on it. I am not very successful in real trading, but I keep trying.

6. How did you learn about ForexCup?

I came across the mention of ForexCup in one of the forums I usually visit. I have never tried participating in Forex contests before, so, I have decided to try.

7. What are the advantages and disadvantages of the ForexCup competitions? What can you offer to change or improve?

I want to admit that ForexCup competitions are almost perfect. The web-site is a little bit slow sometimes, but in general I like it very much.

8. Let’s pass to the Championship you won. What did you feel when you gained the victory?

At the end of the Championship I was really proud of myself. And my first thoughts were about the bonus I received and the way I traded, I was thinking if I could do it better.

9. There are lots of traders in Asia. So, how did you decide to participate in the contest with so many competitors?

It's rather simple. I just wanted to try, nothing else.

10. Did you have any particular strategy at the beginning of the contest or did you work it out on the spot?

I have prepared the strategy before the contest and then followed it all the time.

11. How can you describe your trading decisions? Were they carefully thought over of spontaneous?

I usually combine lots of different factors in making trading decisions and then act the best way I see.

12. What was your favorite trading instrument in the Championship? And what tools do you generally prefer?

In Championship trading I used my favorite trading instrument - NZD. Actually, I use it in most of my trades.

13. Did you follow the results of your competitors? Were you scared of someone's results? Or did you feel confident and relaxed?

I didn't know anything about someone else's results. I was absolutely relaxed and just enjoyed the process.

14. What do you feel now when you are the Best Asian Trader? Are you proud of yourself? Does the title motivate you to go ahead and upgrade your trading skills?

Yes, I am really proud of myself. But I want to improve the way I trade to get even better results.

15. You've got a PAMM ECN account with a sizable deposit in it as a reward. Are you excited to start your PAMM manager career or would you prefer a money prize only?

To be honest, I would prefer the prize only.

16. How do you plan to manage your PAMM ECN account?

At the moment I'm trying to get some information about it. First knowledge, then - decisions.

17. Are you going to participate in other Forex contests again, after being awarded such a great title?

I am going to participate again and again, it's a great way to develop my trading skills.

18. Could you please give some tips to newbies and to those who are still planning to join ForexCup contests?

The main advice is rather simple: practice, practice and practice, As soon as you improve your skills, you will become successful.