Chao showed excellent account and risk management skills in December 2019 and got a $1,000 prize!
Read Chao's interview and see his account statement - to make your own success story
How long have you been trading?
I have been trading for 2 and half years.
How did you get involved in Forex trading?
First I traded commodities futures contracts, then I started Forex trading.
What is your trading style?
Focus on fundamental analysis, supplemented by technical analysis.
Do you practice risk management?
Yes, of course. It is necessary to stop loss in time once noticed the potential risks.
What are some good habits smart traders develop?
Set pre-determined targets for profit and limit losses by setting stop loss.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?)
Recently I had a long position of Australian dollar. Because the economic relationship between China and America are better, the Australian dollar benefitted from the news and I managed to earn a good profit
What advice would you give to new traders?
Always remember to use Stop Loss.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
I think if a trader is not very strong in analyzing what will happen before and after news or events, it is better to hold small position when trading news events.
What are the most important things you look for in a Forex broker?
I like Tickmill because it is Safe, Stable and efficient.