OCTAFX CHAMPION DEMO CONTEST, ROUND 71: PATIENCE IS THE KEY TO SUCCESS
Round 71 of the OctaFX Champion Demo Contest is finished.
Our best wishes to four more traders who share the prize fund of 1000 USD this month!
- 1st place with the award of 500 USD goes to Victor L.Simbar from Indonesia
- 2nd place with the award of 300 USD goes to Achmad Zulfraeni from Indonesia
- 3rd place with the award of 100 USD goes to Faizul Nuraini from Indonesia
- The runner-up Eniola Olufemi, from Nigeria, receives 100 USD
Our new winners expressed their feelings and thoughts on the last round and revealed the key factors of their success. Find out now how our winners feel and how they achieved success in our interview with the best traders in Round 71 of the OctaFX Champion Demo Contest.
1ST PLACE:VICTOR L. SIMBAR FROM INDONESIA
I have to say I certainly feel happy and glad to be in the first place, this is great! Getting to the top was not easy, it did consume a lot of my time. But I will probably join the next contest again.
The most important thing in trading is to be disciplined in your trade, do not be greedy and do not follow your feelings. You need to analyze the chart and stick to your strategy.
I have experienced great profit, but also huge loss, this was a roller-coaster for me.
I would say that to get good grasp of what Forex trading is you need at least 5 years of experience.
2ND PLACE: Achmad Zulfraeni FROM INDONESIA
I feel very happy to finally achieve success, I've often joined this contest but always failed to enter the top 10. And the beginning of 2018 was a good start for me as a trader to have outplayed many traders in this contest.
I often see the market chart once every hour. But when it comes to open a position I am more interested in opening trades in the evening session. At this time the chart is more readable by technical as well as fundamental.
Of course, I want to try and participate again. A true trader is a trader who never gets quickly satisfied and will always learn about forex. Of course, I will join the next contest!
Regarding my trade, the key factor for me is patience. We must know the right moment to open a position. I was able to succeed in this contest by being patient and not rushed about the fluctuating market movement. Before, I was always in a rush when opening positions and it caused a lot of loss.
My strategy is always the same. I always use scalping. But as I said before, patience is the major factor in my success in this contest.
The most spectacular advantage did not occur in this contest. I've tried participating in a contest at another broker and have managed to get a profit of 100 pips. It may seem small, but for a scalper like me, of course this is already big. In terms of loss, I have experienced loss more than 500 pips. It was my fatal mistake because I held a position that was already against the trend, but it was a lesson for me to become a better trader.
I´ve known Forex Trading since 2016. I started to study and understand the characters of each pair on the market chart by technical and fundamental learning. If you already have the forex knowledge it means we only need one more important key, that is emotional control. Because even if you know everything about forex, but then only open positions not based on analysis but emotions, then the result would be a loss.
3RD PLACE: FAIZUN NURAINI FROM INDONESIA
I am so proud and happy to be one of the winners of the contest! Though I worked hard to win, I did not spend all my time trading in the contest. And now after I became the winner it is time for me to discover more opportunities to put my trading skills to the test and try other promotions from OctaFX.
I believe that the most important thing in trading is patience, and it sound easy, but it is extremely difficult to stick to this rule.
During my trading I had ups and downs, once I got 100$ in one trade, which is great, but the other time I lost half of my capital.
I am sure that 1 year will be enough to become a great trader, as long as you have perseverance and patience.
AND CONGRATULATIONS TO OUR LAST RUNNER-UP: ENIOLA OLUFEMI FROM NIGERIA
After participating in the contest realized that I would like to improve my performance and try to beat other contestants in the next round.
What I learned from the contest was not to use high lot to trade and not to trade when I can't monitor the trade. I used Ichimoku based strategy and found out it gave me some wrong signals.
I was very involved in the contest and it took a bit of my time. I knew it will be difficult to win without devoting time to it. My most successful trades were those in which the signals all match the time frames, I consider ie 4hr, daily and weekly time frames.
The trading tools that worked for me includes emas 9,20,100,200 and support and resistance zones.
In my own opinion you can become a trader in less than a month, but to be a consistent profitable trader you will need more time, probably 5 years.
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