The Winner of Forex Article Contest-2 Shares her Impressions

FXOpen

On December 16th the FXOpen team announced the winners of the second round of the Forex Article Contest. The 5 winning articles about the Forex market were deemed most interesting and useful, according to the company experts and social networkers’ opinion.      

The article titled “A Week with Chaos” («Неделя с хаосом») was recognized the best in the competition. It was written by Dana Slymak (Дана Слымак), who was awarded US$500 as the main prize. FXOpen team contacted the winner and asked her a few questions regarding her trading experience and her participation in the contest.

FXOpen: “Could you tell us a few words about yourself?”

Winner: “Hello! My name is Dana. I’m 36, married with 2 kids. I live in a small picturesque place in West Ukraine.”

FXOpen: “Are you an active trader or just a casual observer?”

Winner: “Yes, I’m an active trader, not just an observer. In the article, I gave examples of some of my actual trades, performed in the real trading account. By the way, the first version of the article was totally different. Then I realized that one has to share practical skills rather than merely theory. After another trading week, I reviewed the material and added some new facts.”

FXOpen: “Can you explain the choice of your article topic?”

Winner: “Some newbies in Forex take up trading while working a main shift somewhere else. They are just unable to sit at home in front of the computer round the clock. They don’t have this time. This trading strategy is designed to be used in such situations: you just enter a trade and check it once a day. This was the main argument that helped me to choose the topic of my article. I just wanted to share something useful and really helpful. I aimed to describe some real ins-and-outs during a trading week rather than a trading system as a whole. Also, as I am a physicist by education, the terms “chaos” and “fractals” are very close to my nature. Furthermore, I am really well-aware of Bill Williams’ trading method.”

FXOpen: “Could you please describe your “way in Forex” i.e., how you began, developed, made your first profitable trade, etc.?”

Winner: “I learnt about Forex when participated in a forum competition. There were not enough participants in that contest, so they accepted me as I was an active user despite the lack of proper knowledge about Forex. That is how I tried my hand in trading. Later I joined some other competitions. I was even among the winners in one of them. Then came my first profits and losses in the real account. Well, I think I am not that much different from the rest traders. I guess all beginners are alike. I just want to add that, now, I have to decide whether to develop in Forex trading further and become a specialist or give up and treat it as a hobby.”

FXOpen: “Do you have any progress trading in a real account?”

Winner: “Well, I can’t boast of steady profits. It depends, you know. I feel that I need to concentrate on the psychological aspect of trading to avoid mistakes.”

FXOpen: “How did you learn about the Forex Article Contest? What made you take part in it?”

Winner: “I learnt about the Forex Article Contest from my regular mailout. I’d planned to join the competition in the very beginning but was late with my entry. That is why this time, I submitted 2 articles.

I took part in the competition because I wanted to try my hand in writing and surely to tell about my own trading experience.”

FXOpen: “According to the contest rules, the winner is determined by the voting held in the social networks and by the objective assessment of the submissions by the company’s representatives. We are wondering whether you watched your competitors’ results and the whole process of voting in the networks.”

Winner: “At first, yes, but then after watching the foreign participants’ success, I stopped.”

FXOpen: “What did you feel when the contest was over and you became the winner in the “Forex Theory” category? What became the biggest reward for you: the prestigious title of the winner or a US$500 prize?”

Winner: “My victory caused a fountain of emotions. I can hardly describe it and put it in words. Both the prize and the victory were very important for me.”

FXOpen: “There will be another round of the Forex Article Contest in the near future. Are you going to participate again?”

Winner: “Yes, I will! I am thinking over some ideas now. So I am looking forward to the next round of the contest.”

FXOpen: “Not everyone feels enthusiastic about such Forex competitions. There are different reasons for that. You was not discouraged and decided to try. And as we see, your efforts and optimism were rewarded. What could you advise all those who did not believe in their success and stayed on the sidelines? Will you share some secrets of preparing the contest materials? What was the most important thing during the preparation?”    

Winner: “I advise them not to fear and try your skills in various spheres. As I have already mentioned, I am a technician and my school essays were a complete disaster. But I took up the challenge and can be proud of myself now.

The most important thing is to be satisfied with what you do and, particularly in this competition, what you write about. If you share what is really valuable for you, you will be awarded by others as well.

I would also like to thank the FXOpen team and the contest organizers for such a great idea. I wish you grateful customers and success in your future activity! ”

 

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.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

Latest articles

Analysis of USD/JPY: Was There an Intervention?
Forex Analysis

Analysis of USD/JPY: Was There an Intervention?

Yesterday’s news of slowing inflation in the US sharply weakened the dollar, anticipating the Federal Reserve’s monetary easing. In the first 15 minutes after the data release:

→ EUR/USD rose by approximately 0.45% to the psychological level

What Is a Parabolic Arc Pattern, and How Can You Trade It?
Trader’s Tools

What Is a Parabolic Arc Pattern, and How Can You Trade It?

The parabolic arc pattern is a significant formation in technical analysis, showcasing rapid, exponential price movements that signal significant bullish momentum followed by sharp reversals. This article delves into identifying, trading, and managing the risks associated with parabolic arcs.

Understanding

The Nasdaq 100 Index Fell Despite Positive Inflation News
Indices

The Nasdaq 100 Index Fell Despite Positive Inflation News

Yesterday, Consumer Price Index (CPI) values were published, indicating a slowdown in the rate of inflation in the USA. According to ForexFactory:

→ CPI month-on-month: actual = -0.1%, forecast = 0.1%, previous month = 0.0%;

→ CPI year-on-year: actual = 3.0%, forecast

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.