Wei showed excellent account and risk management skills
in March 2018 and got a $1,000 prize!
Wei’s interview and see his account statement–
to make your own success story
How long have you been trading?
I have been engaged in forex trading for 5 years.
How did you get involved in Forex trading?
I felt that the stock market did not suit me, so I tried to learn Forex from the Internet and studied gradually by myself.
What is your trading style?
My favourite trading style is fast-in and fast-out. I try not to hold positions overnight.
Do you practice risk management?
I am still learning risk management. If I take a low-risk approach, I cannot make money. On the other hand, if I take a high-risk approach, I cannot withstand the psychological pressure. It is very contradictory.
What are some good habits smart traders develop?
A good habit is to control your positions and not to be impulsive. Otherwise, you will not be able to cover your positions.
Describe your best/most memorable trade (How much did you profit? What was the strategy? What pair?)
The most unforgettable event I experienced was when my account was wiped out. I did not make any profitable trades, because I was selling too early.
What advice would you give to new traders?
If you do not have enough money to trade Forex, you should not do it, because it is hard to make money and only a few traders succeed.
Considering the current state of the market, what do you think are the news/events traders should keep an eye on?
I never read the news and have a little knowledge of technical analysis, so I trade based on my feeling. As I have to work, I do not have the time to study, so I mostly rely on guessing.
What are the most important things you look for in a Forex broker?
I like Forex brokers that provide low spreads and convenient withdrawal process.