Asian Forex Championship appeared to be the most outstanding forex-contest, launched by FXOpen. Hundreds of traders from 53 Asian countries have participated in it driven by the desire to win.
Three strongest participants were awarded the main prizes i.e., all of them received PAMM ECN accounts registered with FXOpen along with good financial bonuses.
All the prize winners shared their impressions of the contest and finally, the third place keeper has agreed to reveal some of his trading secrets. During the Championship the trader made 1294% of profit and was awarded a PAMM account with $US1, 020 in it.
Could you please tell us a few words about yourself?
My name is Sensenati. I am 30 years old and I am married. I am from Jordan, I live in Tabrboor city. I work in the Interior Ministry of Jordan.
Could you please describe your “way in Forex”?
Two years ago one of my friends told me about his experience of Forex trading. It seemed interesting to me and decided to join some Forex courses here in Jordan. I also took private lessons of Forex trading.
Do you trade with real money? Are you successful in it?
I am just about to start trading in a real FXOpen account! Thanks to the contest I’ve got this opportunity though, I have already tried real trading with other brokers.
What is trading for you: your main source of income or just nice pastime, which provides you with some additional money?
Forex-trading is a good addition to my full-time job.
How did you learn about ForexCup forex-contests?
I have come across the mentioning of ForexCup in some online ads and immediately decided to try.
What in your opinion are the advantages and disadvantages of ForexCup competitions? What would you change in the project? Do you have any suggestions?
What I like about ForexCup most is that it provides a trader with everything that is needed i.e., it’s easy to register for a contest; all competitions are well organized while trading terms are favorable and attractive.
As for the weak points, I would mention a fixed leverage, the necessity to register at FXOpen forum and the restriction of “no more than 5 positions at a time” – that’s what I think worth changing.
This Championship was one of the biggest ForexCup events. What made you join this competition?
I had a strong desire to participate in the contest – that’s how I decided to join the Championship.
We know that you have already participated in 1 contest before the Championship – what encourages you to try again?
Some time ago I tried forex-contests organized by other broker. That’s why I decided to join – I had enough confidence in myself.
Were you afraid of the competition scale? Did you follow the results of your competitors?
At first I didn’t follow the results of other participants. But when I smelled the spirit of competition in the air I started analyzing the behavior of other traders.
How did you make your trading decisions? Were they informed, risk averse or did your actively pursue risk?
Most of my trading decisions were carefully thought over while based on technical analysis, news and indicators. But I also took up risk and I liked it.
Did you dream about the victory or you were sure that you would win?
In the beginning of the contest I was dreaming about prizes and bonuses. But I didn’t dare to think of such a high place.
According to the contest statistics, you have made 25 trades, of which a large percentage belongs to JPY. Is it your favorite trading instrument? How did you choose it? What other instruments do you prefer trading?
I have settled on JPY pairs as they are usually more volatile than others. As for my regular trading habits, I prefer gold.
All your trades were profitable. We wonder if it has taken you long to work out a profitable strategy? What is it based on?
My trading strategy is based on indicators, news trading and technical analysis. Actually, I am still working on its improvement.
What did you feel at the end of the contest after your leadership had been proved?
I was happy about it. As for me, it was unusual experience. Most of my ambitious expectations came true.
You were awarded with a PAMM ECN account with a healthy deposit – are you satisfied with this method of reward or would you prefer prize money only?
I am glad to become a PAMM ECN account Manager, because I have never tried ECN trading before. I hope I will be successful in it.
Do you have any plans for how you will manage your PAMM ECN account?
I want to try not only managing, but also investing in a PAMM. And I will also offer my family and friends to join me.
Are you going to participate in forex-contests again, after winning such a great title?
I am sure I will, because ForexCup contests are great experience for any trader.
What advice can you give to beginners and to those who are planning to join ForexCup contests?
First of all, you should be disciplined in everything related to trading. Work on yourself and don’t be greedy. If you want to invest, use only the money you can afford losing in case of a failure. Remember that trader’s success is based on three “T”: training, training and again training.