Currency Trading

Tuesday, June 30, 2009

Interview with February's King of the Micro winner


Daniel once was just like you. He wanted what you wanted and dreamed of one day having all the good things life could offer.


The only difference is – He did something about it!


But you can do the same. You can start, now.


Note:

The Microlot accounts are handled by a separate division of FXCM that does not offer a referral program. It is not part of our package with FXCM. Opening a microlot account does not entitle the owner to join our training. Moreover, targeting over 100% gains in any single month should be regarded as extremely high risk and is not recommended. But reasonable incremental profits are possible to those who are sufficiently trained.

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How I Won $25,000

An Interview with February's King of the Micro

February's King of the Micro is Daniel F., a New Yorker who first learned about forex trading through the CNBC Million Dollar Portfolio Challenge. FXCM provided the trading platform for the forex segment of the contest, and since then the King has been an FXCM Micro client.

The King started the month with $847.85 and ended up with $13,513.85 — a winning percentage increase of 1494% and the $25,000 First Prize. Please remember that past performance is not indicative of future results.

How long have you been trading forex? Four months.

Which was your most successful pair? EUR/JPY.

What was your least successful pair? GBP/JPY.

How long did you hold trades, typically? Less than a day.

How much time did you spend trading? About six hours a day.

What do you think is your trading strength? My ability to take a losing trade in stride, and to learn from it.

What do you think is your trading weakness? Sometimes I get too aggressive and hurt my trades.

Was there any trick that made the difference? Learning to close out trades even when they don’t hit my limit, or to minimize losses.

You’ve traded equities in the past. How would you compare the two markets? Forex wins. The trading hours are more convenient, and I don’t have to research thousands of companies.

Do you have any advice for beginning traders? Use the practice account to create a strategy. Follow the analysts, read the news. Above all: use limits and stops.

The Other Winners

Second Place: winning $10,000 was a trader from China, with a percentage increase of 1245%.

Third Place: winning $5,000 was an American trader who realized a percentage increase of 736%.

Enter the Next King of the Micro Contest

If you have $500 in your Micro account by April 1st, you are automatically entered in the contest.

Otherwise:

We look forward to serving you.

Best regards,

FXCM Micro
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
www.fxcmmicro.com




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Forex Capital Markets, Financial Square, 32 Old Slip, 10th Floor, New York, NY 10005



RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.

Contest Rules: The contest begins at 5:00 pm (EST) on the first of each month and ends at the close of the trading day on the last day of each month. Winners will be announced by the fifteenth of the following month. The percentage gain will be based on the ending gross P/L (including floating P/L) as a ledger balance against the beginning balance at the beginning of the contest. There will be no restrictions on withdrawing your prize money. To be eligible for participation in the King of the Micro Contest, all traders must be willing to let their trading record be published and/or distributed by FXCM, its agents, and successors during and after the life of the contest. Personal information such as, but not limited to, your name, address and account number(s) will not be published. If the trader chooses not to release his/her trading record he/she must opt-out of the contest, hence, he/she will be disqualified from the contest. Before entering the contest, please review contest rules.

FXCM Micro and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM Micro and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This e-mail is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. This communication was sent from a non-monitored alias e-mail account. All replies should be sent to info@fxcmmicro.com. Replies sent to info@fxcmmicro.com will be received by the FXCM Micro corporate e-mail system and are subject to storage and review by someone other than the recipient.

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