Fransisca showed excellent account and risk management skills in February 2016 and got a $1,000 prize!
Read Fransisca’s interview and see her account statement to make your own success story
For how long have you been trading?
I have been trading for over 5 years.
What instruments do you prefer to trade and why?
I trade major pairs, like EURUSD, GBPUSD, USDJPY and USDCAD. My favourite pair is EURUSD because it is volatile and has a measurable daily range. There are fundamental factors that affect the pair quite much, like economic data release, governors’ speaches, etc.
What schedule (trading hours) do you have for your trading?
My trading schedule is not specific. If I have time, I sit in front of my laptop to analyze the charts and read some news. This is fun because I can manage my own schedule and I am independent.
Did you receive personal training from other traders or did you mainly educate yourself on your own?
Yes, I have participated in some workshops/webinars about the Forex market. Sometimes I have meetings with some of my friends to share knowledge and ideas about Forex.
What do you consider the best type of education for a trader?
I think, besides practicing on a demo account, it’s also good to practice on a live account, because the psychology effect is different. Low minimum deposit and leverage what brokers are offering make it easy to open a live account with a small initial balance. Then it’s possible to trade micro lots and a potential loss is limited. You have to think about it as a “course fee”.
Do you create your own strategies or use the ones that already exist? Can you briefly describe your strategy?
I am a scalper. I analyze charts on H1 and H4 timeframes and open a trade based on M15 or M5 timeframe. I try to get 10-20 pips in each trade. I close my order as fast as possible, because with my strategy long time trades have bigger risk. I use basic indicators like MA and Bollinger Band to determine the trend, RSI and CCI as filters, also Support & Resistance, Pivot and Fibonacci for target determination.
What is the most important quality a trader should have?
Beside basic knowledge about the Forex market. Self control and discipline is a must. Self control not to ‘over trade’ and discipline with trading rules and plans. Trading is for long term, not just a hobby. Hoping for instant results is impossible. Consistency is the key factor of a successful trader. Yes, I admit that sometimes it’s boring to collect ‘few dollars’ as a daily profit. If you get it constantly then at the end of the month you will have a nice profit. It’s very nice.
How do you deal with losses, does it have an emotional impact on you?
Sure, as human being I feel angry and upset. But this is part of trading we cannot avoid. There is risk and reward. As long as we follow our trading rules and plans, losses can be accepted. Even people say market is unpredictable, the truth is we have full control of our trading activities.
Are you satisfied with our service and is there anything we can improve?
Yes, I’m very satisfied with Tickmill’s services. Beside competitive spread you are allowing all trading strategies. It’s is the most important thing for me as a scalper, also fast execution speed. Deposit and Withdrawal processed within minutes.