The winner of the 194th round of Rally Trade and recipient of no deposit $500 bonus Andrey Krotov belongs to an unusual kind of traders. He doesn’t trade on real accounts. For him, trading is an experiment ground, he studies analysis, strategies and learns to code.
Andrey, tells us about yourself a little, about your education and work.
I studied accounting and economic analysis of financial and business operations. Now I work in supervision, but I plan to retire in a couple of years. I hope to switch to a teaching job and give lectures on economics in a university.
Why did you decide to start trading?
I learned about trading accidentally on the Internet. I consider it a very interesting and at the same time rather a hard work, which demands not only market knowledge, but also knowledge of many other fields of economics, further mathematics, probability theory and mathematical statistics. Really talented, well-read and smart people become good traders. But I don’t trade on the real market myself, I only read, study different strategies, technical and fundamental analyses and participate in contests.
How did you go about learning a new profession?
Unfortunately, I can’t engage in education on a regular basis, since I don’t have virtually any free time because of work. Actually, I learn on my own, read books, look into various strategies on websites, analyze advisors’ work and constantly learn programming languages.
What resources can you recommend for getting new trading ideas?
You can find a lot of useful information on Investing, Grand Capital website, IAFT, Traders Forum. I also recommend a book on candlestick charts by V.I. Safin, The Wyckoff Method by Jack K. Hutson and Supply & Demand lectures by Sam Seiden.
Where do you see trading in your future? Do you consider trading on a real account?
I’m going go continue studying market theories, strategies, and analysis. If an opportunity presents itself, I will most likely teach market theory. And then I can consider real trading.
What trading instruments do you study? Which trading strategies are of interest to you?
All the instruments are interesting to study, but GBP/USD and EUR/USD stand out for me especially. In fact, I don’t have any strategies yet, I just study market economy, stock, and currency markets. But I think that based on Martin and fibo a sold strategy can be developed and EAs can be created.
What should traders pay attention to when choosing a broker? Why have you chosen Grand Capital?
I chose your company because you have so much useful stuff on your website: trading ideas, a lot of info on the market and exciting contests. And you have decent spreads.
Why have you decided to take part specifically in Rally Trade?
This contest doesn’t take too much time. When I saw that even on Thursday evening, the main contest day, the contestants only make 20-30% of their total profit, I knew immediately that it was my contest, though I didn’t begin trading that day.
What helped you to win the contest?
It turned out I had more experience and knowledge than my opponents. And probably I was lucky. In fact, all of my predictions proved correct, except for an unforeseen USD/ZAR movement that was unfavorable for me.
Can you provide a piece of advice for beginners?
Learn, then learn again. You’ll have enough time to trade on a real account. Don’t ask too much of the market or else it will take much from you. However funny it may be, sometimes with our insatiable appetite we can set the gigantic market and those who are on our side against ourselves. Also, the financial interest in markets is a good reason for learning to code. It’s very important today.
P.S. The main prize in Rally Trade is no deposit bonus $500. If you want to try your skills in a competition with other traders, read the rules and sign up for the next round.
