OctaFX Champion Demo Contest, Round 64: Understanding profits and losses

Round 64 of the OctaFX Champion Demo Contest is complete.

Congratulations to four more traders who shared the prize fund of 1000 USD this month!

• 1st place with the award of 500 USD goes to Anouar Kasri from Morocco

• 2nd place with the award of 300 USD goes to Anita Lestari from Indonesia

• 3rd place with the award of 100 USD goes to Agus Supiyadi from Indonesia

• The last runner in the contest, Mrs Sukamti from Indonesia is awarded 100 USD

Our latest winners explain the importance of controlling your emotions and dedicating the right amount of time to learning and applying trading strategies to see significant gains. Is there a secret to trading? Read more to find out what they think.

1st PLACE: ANOUAR KASRI FROM MOROCCO

Excited is the word I’d use to describe reaching first place, it feels great! I put a lot of time and effort into becoming the best trader in the contest this month. I believe my strong spirit and patience were key factors in my success. I prefer to use technical analysis to monitor market movements and identify entry points.

My winning strategy included using Fibonacci retracement and moving averages to trade GBPUSD and GBPJPY, fuelled by their high volatility. My most impressive gain so far was during this contest, but I also anticipated and experienced several losses.  

2nd PLACE: ANITA LESTARI FROM INDONESIA

I’m so happy to be an OctaFX Champion Demo contest winner. I never imagined it would happen, and this was the first time I took part. I used my spare time to trade and started trading a few days after the contest started.

The key to my success was being selective and patient for the right trading position. I used a combination of power analysis on H1 candle and fundamental analysis. It takes around two years to understand market movements and become a good trader. I experienced a 200% gain on GBPUSD during the contest using fundamental analysis. My first trading experience in this contest was so successful, I’ll definitely join future promotions.

3rd PLACE: AGUS SUPIYADI FROM INDONESIA

I’m pleased to have secured third place in the OctaFX Champion Demo contest. It’s thanks to this contest that I have learned to be a more disciplined trader. The key to success is developing the potential that exists within ourselves. I don’t believe there are any secrets in trading, it’s all about real data that must be learned and applied. The most important thing in becoming a good trader is devoting the right amount of time to learning trading techniques and understanding the market.

AND CONGRATULATIONS TO OUR RUNNER UP MRS SUKAMTI FROM INDONESIA

I’ve learnt so much from taking part in the OctaFX Champion Demo contest. I will continue to try to climb the leaderboard by taking part in future contests, and in the meantime I will study market analysis techniques and practise being more efficient. On a number of occasions I know I would have been more profitable if I’d spent longer analysing market conditions before placing trades. Controlling your emotions is key to success.

Become an OctaFX champion

Reach the next level in your trading career. Profits equal cash prizes, so register today to take part in the next round of the OctaFX Champion Demo Contest.