I am new to
FX trading and is trying to learn about successful strategies. Just watch the trading record of the lastest FXCM mini contest. My jaw dropped when I saw the results. The #5 winner of the November 2005 contest netted $67,663.82 for a month of trading. Who needs a job? Can this be a realistic income if you are successful in
FX trading?
While most of the other winners over-leverage their accounts, this trader has a starting balance of around 26K. He is still above 10% but not as bad as other winners in this area. What is amazing is that he does not even have one losing trade out of around 40 trades. How does he do it?
Questions for more experienced traders:
1. Who is this guy and does he sell his trading signals or publish a book?
Seriously, is there any way to contact these winning traders?
2. Why trading mini when his balance is that high?
3. Why FXCM does not have an interview with a 100% winning-trade winner
and publish it like they did a few years back?
4. Why are the other winners all over-leveraging their accounts? Are they
just too experienced & too confident?
5. Have there been winners who trade more within the acceptable rules of
good money management?
6. Will FXCM entertain to have many of their traders be so successful like
winner #5. Will brokers in general get into problem if a high % of their
traders are winning big? Isn't it like a bank with too many withdrawing? I guess what I am saying is that, does your broker want you to win consistently even though they take their spread? I guess what I am saying is when you win big like that, who is the loser, the broker, other traders, or what?
Any comment will be appreciated.