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FXCM King of the Micro winner made an outstanding profit of 2116.39%

Day trading or scalping the forex market seems to be making a comeback. This was seen FXCM's King of the Micro winner for the last month who made an outstanding profit of 2116.39%.

 

Wenzhen Wang, from China, appears to have used scalping strategies on a broad range of currency pairs. Scalping, or short-term trading, can mean making dozens to thousands of trades a day. This is Wang’s second time winning the King of the Micro title and the $25,000 cash prize. Read Wang’s full survey and trade report to learn more about his strategies.
 
Interview with the winner:
 
1. How long have you been trading? 
Over 10 years in stock trades and 5 years in forex trades
 
2. How did you start trading? 
Online trading
 
3. What are your favorite sources for news and/or your favorite technical indicators? 
www.dailyfx.com.hk
 
4. What pair do you prefer to trade? 
No preferred
 
5. How long do you typically hold your trades? 
1 day
 
6. How much time do you spend trading every day? 
8 hours
 
7. What was your most successful or memorable trade, and what was your most unsuccessful trade? 
All past failure trading experience; 
Repeating trading mistakes.
 
8. What do you think your greatest weakness is as a trader? 
Forget past trading mistakes
 
9. What one thing did you do or learn that pushed you over the top?
Minimize the times of repeating trading mistakes
 
10. What kind of personality do you think you need to trade forex successfully?
Dare to loss money when you make a trading decision
 
11. What do you think about forex vs. equities?  Have you traded equities?  Why do you trade forex?
Trading forex:  less complicated, higher risk; may having higher and faster return.  I enjoy trading forex because it is less complicated and easy understandable. 
 
12. How has trading changed your life? 
No change except keeping me busy
 
13. What advice would you give to a new trader? 
Play it with your spare money and improve trading skills by learning from your own mistakes
 
 
About FXCM Inc.
 
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
 
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM’s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts.
 
FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

 

TAGS: fxcm  king of the micro  micro account  forex broker  forex contest 

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