Currency Trading

Tuesday, June 30, 2009

Interview with March's King of the Micro winner


Timmy 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 March's King of the Micro

King of the Micro for March, Timmy Cheng, is a native of Hong Kong who does his trading everywhere—at home, in the office, in cafes, and even in public gardens.

The King started the month with $961 and ended up with $19714—a winning percentage increase of 1951.22% and the $25,000 First Prize. Please remember that past performance is not indicative of future results.

How long have you been trading forex? Ten years.

Do you have a favorite source for news, and technical indicators? For news I read the Hong Kong newspapers. For technical indicators I use www.dailyfx.com.hk.

Which pairs do you prefer to trade? The Big Three: EUR/USD, GBP/USD, USD/JPY.

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

How much time did you spend trading? From eight to sixteen hours a day.

What’s the best overall strategy for trading? What’s the worst? Every trade must begin with a clear plan and direction, and the trader must follow the plan. If there is no plan, or if the trader doesn’t follow the plan, failure is almost certain.

What do you think is your greatest weakness as a trader? Emotion.

What do you think of the King of the Micro competition? It’s a great idea. It invites competitors to match their trading skills with traders from around the world. It is a wonderful way to promote serious forex trading.

How would you judge the forex market vs. the equities market? In the equities market, one giant investment company can take virtual control of an area. In forex, by contrast, the sheer size and international scope of the market creates a level playing field for the trader. Also, forex goes on 24 hours a day, which is much more convenient for a trader.

How has trading changed your life? It has allowed me to realize substantial extra income, which has improved my quality of life.

What advice would you give to a new trader? Better to miss an opportunity than to make a wrong decision.

The Other Winners

Second Place: winning $10,000 was a trader from the United States with a percentage increase of 1919%.

Third Place: winning $5,000 was a Chinese trader who realized a percentage increase of 1206%.

Enter the Next King of the Micro Contest

If you have $500 in your Micro account by May 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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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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