Tam showed excellent account and risk management skills in September 2021 and got a $1,000 prize!
Read Tam's interview and see her account statement – to make your own success story
How long have you been trading?
I have been trading for almost five years.
How did you get involved in Forex trading?
I started trading bitcoin and then I moved to the Forex market.
What is your trading style?
I focus on basic technical analysis: Support and Resistance, Candlestick, Moving Average and Waves.
Do you practice risk management?
Of course, I use SL (Stop Loss) where necessary.
What are some good habits smart traders develop?
Read news, check the economic calendar every day. If major events are imminent and the predictions are incorrect, refrain from being affected by these. Stay focused on your strategy: identify the trend, set Trailing Stop and Stop Loss points, consider carefully when opening positions and do not change the strategy while trading.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?
The most memorable trade was when I was trading the GBPUSD pair on 28th September, I made a profit of $30,990.
What advice would you give to new traders?
- Act seriously when trading and practice regularly.
- Do not trade against the trend.
- Think carefully and use technical analysis.
- Practise risk management and Stop Loss at the right time.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
News about the pandemic situation, countries’ strategies to prevent and control epidemics, and economic stimulus programs to aid post-pandemic development. Public indicators of country unemployment rates. Central bank speeches, Federal Reserve monetary policy and interest rate.
What are the most important things you look for in a Forex broker?
Mostly the transparency and level of trustworthiness of the broker.