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Monday January 24, 2011 - 19:21:37 GMT
Monday, January 24, 2011â€”FXCM Inc. (NYSE: FXCM) gives away cash awards every month to three of its Micro clients with the highest returns on their trades. All FXCM Micro clients with a minimum of $500 in their account at the beginning of the month are automatically entered in the contest. To remain eligible, Micro clients must execute a minimum of ten trades during the month.
How the Online Traders Won the December Contest
Read below to learn how the traders reached the top of the leader board and find out what set apart the one crowned King of the Micro from the rest amid the drain in liquidity in December, which led to a sharp increase in volatility, resulting in more consistent swings, particularly in the USD. Full interviews and the winnersâ€™ trading history can be found on the FXCM Micro forum.
GRAND PRIZE WINNER: Ahmed El-Shazly from the United Arab Emirates sees 756.86% profit, wins $25,000 cash.*
Trading Experience: 3 years
Preferred Trading Pairs: GBP pairs
Average Trade Holds: 1-2 days
Average Daily Trading: Average of 4 hours
Key for Success: Believing in his method and analysis. Sticking to his money management rules.
SECOND PLACE WINNER: Baolin Cao from China sees 693.57% profit, wins $10,000 cash.*
Trading Experience: 7 years
Preferred Trading Pairs: AUD, EUR, GBP
Average Trade Holds: A few days
Average Daily Trading: A few hours
Key for Success: Being well-balanced in trading
THIRD PLACE WINNER: Tuck Leong Lai from Malaysia sees 655.61% profit, wins $5,000 cash.*
Trading Experience: 3-4 months
Preferred Trading Pairs: EUR/USD & AUD/USD
Average Trade Holds: 10-20 market days
Average Daily Trading: 6-8 hours
Key for Success: Risk management
To learn more about the contest, and to deposit money into your FXCM Micro account, view the King of the Micro Monthly Trading Contest Rules
View the video announcement of December King of the Micro winners http://forexforums.dailyfx.com/king-micro-trading-contest/304937-december-contest-results-winner-returns-756-86-a-2.html?CMP=SFS-70160000000OchCAAS#post718405
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCMâ€™s large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver, and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
* Past performance is not indicative of future results.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Any opinions, analyses, or other information contained is provided as general market commentary, and does not constitute investment advice. Read full risk disclaimer.
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