FXOpen has recently held the Asian Forex Championship that came to an end on June 27th. This competition has become one of the most exciting and large-scale events organized by the company within the popular ForexCup project. More than a thousand traders from different parts of the world joined to demonstrate their skills and compete for the prizes and bonuses totaling US$12,000.
Changhang Peng, a representative from China, came out on top, making 852% in profits during the Championship. He was awarded with a PAMM account of US$3,000, a real-money bonus for profitable trading, and the title of the Best Asian Trader 2014.
The ForexCup team had a chance to talk with the winner about his participation in the Championship, his trading strategy and experience in Forex, as well as his plans regarding the PAMM account.
FXOpen: “Could you please tell us a few words about yourself?”
Winner: “My name is Changhang Peng. I come from the Chinese city of Xiamen. I am married and have a family. I run my personal business.”
FXOpen: “Could you please describe your “way in Forex” i.e., how you began, developed your trading skills, made your first profitable trade, etc.?”
Winner: “I can’t say I have any special way in Forex. One day, I just thought why not try entering the market’ and I’ve become a part of the Forex community since then. I moved on, chose a single broker to work with – that was FXOpen – and focused on developing my skills further. I do remember my first trade: I picked the EUR/USD as a financial instrument for it.”
FXOpen: “How did you learn about the ForexCup competitions? Have you ever participated in contests organized by other brokers?”
Winner: “I came across ForexCup in one of my favorite forums. I’d never entered any Forex contest before so I decided to give it a shot.”
FXOpen: “What distinguishes ForexCup from other competitions in your opinion?”
Winner: “From my point of view, ForexCup holds excellent trading contests. They are almost perfect. The project’s website is a little bit slow at times but in general, I like it a lot.”
FXOpen: “This Championship was one of the biggest events in ForexCup history. What made you join this particular competition?”
Winner: “The answer is easy: I just wanted to try, nothing else. I joined the Championship without any hesitation. At the end of the tournament, I was really proud of myself.”
FXOpen: “How did you make your trading decisions? Were they informed, risk averse, or did your actively pursue risk?”
Winner: “Most of my trading decisions were carefully considered and weighed. I analyze lots of different factors.”
FXOpen: “What are your favorite trading instruments?”
Winner: “During the Championship, I preferred NZD pairs. Honestly speaking, I use them in most of my trades.”
FXOpen: “Did you have any particular strategy at the beginning of the contest? Or, were your steps based on the current market situation?”
Winner: “Yes, I’ve worked out my personal strategy before the contest and followed it every time.”
FXOpen: “You have been awarded with a PAMM ECN account with a healthy deposit. Are you satisfied with this type of reward, or would you rather prefer prize money?”
Winner: “Honestly speaking, I would take “live” money.”
FXOpen: “Do you have any plans on how you will manage your PAMM ECN account?”
Winner: “At the moment, I’m trying to get some information about it. First, knowledge; then decisions.”
FXOpen: “Will you participate in Forex contests again, following this exceptional performance?”
Winner: “Yes, sure! I’m going to participate again and again. It’s a great way to develop my trading skills.”
FXOpen: “What advice can you give to beginners and those who are planning to join ForexCup contests?”
Winner: “Practice, practice, and again – practice! As soon as you improve your trading skills, you will become a success!”
The 2014 Best Asian Trader has once again proven that a passion to win is a key to great achievements. FXOpen would like to congratulate all of the participants and wish them every success in their future trading!
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.