Chao-Yu showed excellent account and risk management skills
in January 2017 and got a $1,000 prize!
Read Chao-Yu interview and see his account statement
to make your own success story
For how long have you been trading?
I have been trading Forex for over 5 years.
What instruments do you prefer to trade and why?
I like to trade major Forex pairs like EUR/USD, USD/JPY etc. Those pairs have a large volume and trend, so it can be used for band trading. I also like cross-currency pairs with swing trading characteristics like GBP/CAD and EUR/AUD. I am using channel trading system to find short-term trade opportunities.
What schedule (trading hours) do you have for your trading?
Mainly I follow the Europe and the Americas opening session, the first three hours after the opening are my main trading hours.
Did you receive personal training from other traders or did you mainly educate yourself on your own?
I integrated the self-learning method to generate suitable trading strategies.
What do you consider the best type of education for a trader?
Keep a record and create your own trading list. Then you can learn from own mistakes to find blind spots and improve it.
Do you create your own strategies or use the ones that already exist? Can you briefly describe your strategy?
I am using Classic strategies like London Open Breakout Strategy in conjunction with a daily trend graph. I also use classic channel strategy, Fibonacci channel with the RSI can help find the appropriate re-entry point, which is suitable for short-term trading.
What is the most important quality a trader should have?
Trust yourself and follow the market trend. Most of all are willing to take risks. Maintain discipline, accept the loss and take control of it.
How do you deal with losses, does it have an emotional impact on you?
The loss must be accepted as a natural occurrence. It is absolutely necessary to avoid major losses, as it will have a devastating negative emotional impact.
Are you satisfied with our service and is there anything we can improve?
I really like Tickmill’s efficient service and trading system, which I hope you will continue to advance. I am hoping that you will increase the WTI and other CFDs leverage and add with China, Taiwan index-related CFDs.