OctaFX Champion demo contest Round 58: three main success factors
We are ready to announce the happy winners of OctaFX Champion demo contest Round 58! The prize fund of 1000 USD was shared by four traders, and this time they were:
- 1st place with the award of 500 USD goes to Mr. Karsono Muslamat from Indonesia
- 2nd place with the award of 300 USD goes to Mr. Said Yacouti from Morocco
- 3rd place with the award of 100 USD goes to Mr. Muhlish Tri Hidayat from Indonesia
- The last runner in the contest, Mr. Eka Birawan from Indonesia is granted 100 USD
Do you want to learn the main success factors in trading? Here is what our winners told us:
1st place: Mr. Karsono Muslamat from Indonesia
I am very happy and proud that I have won this contest, this victory is like an award for me.
This contest didn’t really consume all of my daily time, I traded only at certain hours that I considered crucial for trading. I am always open to the opportunities to participate in a real contest, and with this victory it might be a turning point for me to become a successful trader in this field. The key to my success is my discipline and my faith in the trading techniques I use. My strategy is to avoid hasty decisions and to wait for the right time to open a position. The loss I experienced was trivial and I didn’t have any significant profits, but every time I opened a position, I always gained some small profits that helped me to eventually win. I am a self-taught trader, I didn’t get a special education and it took me long enough to learn. After a few failures that I experienced these 2 years, I can humbly say that I am a good trader.
2nd place: Mr. Said Yacouti from Morocco
Wow, I feel so good to get at least the second place! I’d been watching the competition closely for a month and then I thought it was a good moment to try it too. And yes, I want to participate in the upcoming rounds as well. I guess the key factor to my success was a close intermediate term analysis during the whole contest. My strategy is described by a simple phrase: buy at low prices and sell at high prices. Isn’t it really simple and perfect? I also got a valuable lesson from this contest: I suffered more losses when I was using a long-time strategy. I’m not sure how long it takes to become a good trader, because I’m still learning. But I think we can become good traders if we control ourselves and try to be as patient as we can.
3rd place: Mr. Muhlish Tri Hidayat from Indonesia
Thank God! I’m very happy, I was not expecting it after nearly three years of participating in the demo contest, but I finally became one of the winners! In terms of trading time, I only traded between 5 and 7 am local time. After that I turned off my phone to start my daily routines. Sometimes I also traded in the evening after I came home from work. God’s will, I will participate in the contest again. In my opinion, there are three success factors in trading: 1. mastering the techniques; 2. controlling the emotions; 3. patience. I only used one technique during the contest and I’ve been using it for about 10 months. I use Fibonacci to be exact. I've been trading Forex for 3 years and so far my capital return is around 30%. So far, I’m not the best yet, but I’m trying to be the best.
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