Amir showed excellent account and risk management skills in July 2017 and got a $1,000 prize!
Read Amir’s interview and see his account statement to make your own success story
How long have you been trading
I've been trading on an off from the past four years.
How did you get involved in Forex trading?
I was trading in Stocks since 2007. I heard about Forex Trading and Commodities trading in 2010 and I got interested into it but due to other commitments I couldn't actually start Forex Trading in 2010. I started trading Forex in 2014. Initially busted few accounts and later on started making profits.
What is your trading style?
I spend a lot of time in picking up a suitable currency pair to do scalping. I also do news trading on big events only.
Do you practice risk management?
Yes I do. All of my orders are backed up with Stops. Usually I keep my account at 5% max risk but sometimes it goes high depending upon the situation.
What are some good habits smart traders develop?
Risk management and self control are the key to success for any trader I believe. One has to keep emotions out of trading. It's really hard, but it works.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?)
I performed detailed analysis on many currency pairs. I looked at each currency's trend over different time period excluding impact of another pairing currencies. Once I found individual trend of each single currency I selected for my analysis, I checked which one is the strongest and which one is the weakest. So I came to a conclusion that at this time SELL trend at NZD/CAD is the best. I started doing One-Sided scalping on NZD/CAD in smaller lots and it gave me handsome and safe returns everyday.
What advice would you give to new traders?
Study hard to understand fundamental and technical side of Forex. Understand risk management in detail. Do not take more then 5% risk on your account. Do relax trading which is good for long term. No body becomes millionair over night. Be patient and keep your emotions in control.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
Interest Rate decisions and Employment Data are the most important events for any currency.
What are the most important things you look for in a Forex broker?
1. FCA Certification.2. Swap Free option.3. Low cost/charges.4. Efficient and helpful customer services.