Feng showed excellent account and risk management skills in December 2021 and got a $1,000 prize!
Read Feng’s interview and see his account statement – to make your own success story
How long have you been trading?
How did you get involved in Forex trading?
Through one of my closest friend who introduced me to the opportunity of IX Global.
What is your trading style?
I mainly trade on price action on multiple pairs.
Do you practice risk management?
Yes, I am practicing it a lot since last year and gained confidence of trading in big lots.
What are some good habits smart traders develop?
Keeping Patience & practicing meditation regularly to keep your mind stable while trading.
Describe your best/most memorable trade (How much did you profit? What was the strategy? Which pair?
Once when i was done with the trading for the day & about to sleep with around $100 of profit and suddenly I saw a opportunity of price action in US100 so I took the trade, was not so much confident about it but yes it went in my direction and I kept on adding layers ended up with the profit of $280. That was the most memorable trade for me as i was not expecting this much profit.
What advice would you give to new traders?
Always know your limits don’t just trade to earn and put all your money at once especially in you initial trading days. First learn how to trade, make your own setup and then trade with small quantities with risk management and money will follow eventually.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
As market is very volatile these days due to war between Russia and Ukraine, new traders should be aware that one wrong move can wipe all their money so they should keep an eye on news and events related to war as they are drastically effecting the market.
What are the most important things you look for in a Forex broker?
Low spread, Easy deposits and withdrawal & Instant withdrawal must be their.