Divya Abhishek is the winner of the latest edition of the Trader of the Year contest, organised by FXstreet.com and sponsored by Hantec Markets.
He is from India and, surprisingly, has only been trading for 6 months. He beat more than 2,000 traders on the Trader of the Year contest but Divya is still cautious and down to earth, realising that in forex you can always learn more and improve the trades. Here is a quick interview about his trading style and strategies.
What is your trading strategy?I am a new entrant in Forex Market and it is less than 6 months since I am trading. My current strategy is based on Price Action considering 5 Minute charts and percentage price movement of a pair in a day.
What tools do you usually use?Since I am new entrant in Forex Market, I am still exploring for reliable tools which I can adapt in my trading strategy. Currently I am using simple Support/Resistance analyzing tools which help me to identify the support/resistance of a pair and to take a trading decision.
What FXstreet.com pages and tools do you use more often?I am currently subscribed to the Fxstreet.com RSS news feed to stay updated with the latest market happenings. I recently found FXstreet.com's Forex Studies (Beta) tool very useful and I started to use it these days.
What is the best of Forex and Trading?I like forex market mostly due to the fact that it gives freedom to trade 24 hours a day, as I can even trade after my office hours. I also like the high leverage offered by various brokers (I personally like 1:50).
Will you participate again in a Forex Contest?This was my first forex contest in which I ever participated and it helped me a lot in identifying my key weaknesses. I think forex contests like this create a risk free but challenging environment where new entrants specially like me can test their skills and identify their key weaknesses without worrying about loosing real money. I am very thankful to the organizers of this forex contest and look forward to participating again next year to see where I actually stand. In the mean time I will try to overcome from the weaknesses that I identified during this contest.
What is your feedback about the Trader of the Year 2012?By far, Trader of the Year 2012 was excellent.
What tip would you give to a trader wanting to participate in a Forex Contest?
Since I am a new entrant in forex market, I don't consider myself in a position to suggest to professionals.
However, what I learned - specially on the last two days of the contest - and would like to suggest to new entrants is that they should always trade with confience. No matter if a trade goes in your way or against you, never let your trades overcome your confidence. Also, I do not recomment to trade with a vengeful mind after a loosing trade. As we can not take revenge from forex market, we should not trade with a vengeful mind. Try to keep calm and always look for a good opportunity to enter into a trade. Finally, just remember that patience is the key to success.