Any trader knows that trading on news or at the end of the month is a one risky endeavor. The price is changing fast in both ways and such level of volatility requires making tough decisions. It is exactly the strategy that was chosen by the winner of round 305 of our Drag Trade contest. Read all the details in the interview:
Yuri, congratulations once again! Let’s start with our traditional question: Why did you choose Grand Capital as your broker?
- The first time I encountered Grand Capital was in internet. I saw a banner with a promotion (don’t remember which one), clicked on it and stayed. It happened at the time when I was thinking of changing my broker, that’s why I decided to stay and trade for a while to test the broker. Quick execution and no slippage were among the main reasons why I stayed with Grand Capital.
Why did you choose Drag Trade Contest from all the other contests offered by Grand Capital?
- I liked the contest because it is fast and it is quite easy to participate – you just need to register and open a demo account.
Most of the trades in the contest were performed using USDZAR. It is not really a regular choice of the most of the traders out there, because South African Rand is considered to be an exotic currency which means, that it is not that easy to develop a certain strategy for it. Why did you chose this pair for the contest?
- You are wright, it is not a standard trading instrument. Actually, I don’t know the pair that well – I’ve just started learning it. Mainly I trade standard assets: EURUSD, GBPUSD and sometimes Gold. As for the contest, I only made one trade with EURUSD and then shifted to USDZAR and I wasn’t mistaken.
Did you follow a certain strategy in the contest? Which trading strategy do you consider to be the most successful?
- I really favor technical analysis. I trade based on support and resistance levels. To be frank, it is all strategy that I have. As per the contest, I was trading re-test of resistance breakout. And once the impulse was there, I just placed buy order by market with maximum volume
Please share your thought about the round – was the trading tough and what was your success factor?
- I really liked the contest. I was really worried, especially right before the round end. There was a rising trend and I just was Buying with the whole deposit. It was super risky, but I was lucky and I caught a strong movement on USDZAR. There was a lot of adrenaline in my system, despite the fact that the contest is held on demo accounts.
What would you wish to those who haven’t yet participated in the contest?
- To all the future contestants I which lots of luck, more profit and patience!