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Here are the results of the last trading week.

The most active client

Placed 941 trades, including 778 profitable ones and 163 that resulted in a loss. All trades involved GBP/USD.

Maximum deposit growth

In one trading week on a single account was $27 540,00.

The most profitable trade of the week

Resulted in a profit of +$18 735,00. The trade was opened on the 21st of November at 11:13 AM and closed on the 27th of November at 2:52 PM.

The most interesting trading instruments chosen by traders:

• ROUGH RICE — rough rice futures contract. Rice is one of the most cost-demanding grain crops. It is produced all over the world and is second by the production volume among the top three grains, standing between wheat and corn. Minimum price step is 0.5 cent and costs $10;

• Dow Jones — Dow Jones stock index mini futures contract. DJIA (Dow Jones Industrial Average) index is the oldest American market index existing today. It was designed to follow the development of the industrial segment of American stock markets. The index comprises 30 major American companies. Although the index is still called "industrial", the large portion of the companies included have nothing to do with heavy industry. The contract size for DJIA is calculated according to the formula: $5 multiplied by the index quote;

• #MAGNIT («Магнит») — a Russian food retail company and an eponymous supermarket chain. As of December 31, 2016, the company's network included 14,059 stores. In 2016 the company's revenue amounted to 1.07 trillion RUB;

• #PFE (Pfizer) — an American pharmaceutical corporation, one of the world’s largest companies in the industry. Pfizer shares were included in Dow Jones Industrial Average on the 8th of April, 2004;

• #NIKE — an American company, a world-famous manufacturer of sportswear. According to analysts, Nike owns almost 95% of the US basketball footwear market. The brand is estimated at $10.7 billion and is the most valuable trademark in the sports industry. It is included in Dow Jones industrial index since September 2013.

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The winner of the 392nd round of Drag Trade lives in India, works as a mechatronics engineer and has been trading on financial markets for about five years. Pongurlekar Sunand Sudhir told us how beginners should polish their skills, what strategies should be used with scalping and how to choose a broker.

Tell us a little bit about yourself, how old are you, where do you work?

I am a 27-year-old engineer with graduation in Bachelor of Engineering Mechatronics. My work is related to automation and robotics, I have to calibrate machines to work in the desired manner with the help of computer programming.

How did you start trading? How did it all begin?

I started with Forex trading during my final year of studying engineering so I have been around the world of Forex for about 4–5 years. I started Forex trading when I looked at the volatility in Forex market during major economic data releases. I found this volatility as an opportunity to place trades. Initially, I started with a demo account and have been participating in many contests including those conducted by Grand Capital for more than 3 years. It is only last year that I started trading on live accounts so I am still a novice when it comes to trading on real accounts.

How popular is trading in India?

Forex trading was somewhat less popular in my country when I began 5 years back. However, nowadays there is more awareness about Forex trading in India and many brokers are offering local bank deposit/withdrawal option at competitive exchange rates to Indian customers. Many international brokers have their partners and IBs in India and even some have opened up offices in India.

How did you learn to trade?

I learned to trade from reading technical analysis books, technical analysis research of analysts, watching Youtube videos and attending seminars organized by brokers.

As a novice trader, I experienced a lot of problems with risk management and placing stop losses to exit losing trades. As a result, I believe that the paramount factor in Forex trading is how to manage your losses.

What’s your trading style? What strategies do you use?

The volatility is my best friend. My trading style is scalping and news trading during important economic data releases. My prime trading strategy involves scalping and using technical tools such as moving averages, Bollinger bands, MACD and Fibonacci levels on short-term charts like 1m, 5m, 15m. I believe in cutting my losses as quickly as possible and never average the trades.

What are your favorite trading instruments?

I prefer to trade mainly major Forex pairs such as EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and EURGBP. I believe they have the best liquidity and as a result the tightest spreads of all the asset classes which is important while scalping.

What do you look at when choosing a broker?

I mainly look out for tight spreads, faster execution of trades, no hassle in deposit/withdrawal of funds, security of funds and lastly, local bank deposit/withdrawal option for Indian customers. In fact, I opted Grand Capital for the local bank deposit/withdrawal option. Also, I admire the way Grand Capital organizes contests regularly.

What are your impressions of Grand Capital contests?

As I said earlier, I like demo contests and moreover, your Drag Trade contest is a high reward contest as the winner stands a chance to win a prize in a duration of only 1 hour. Drag Trade contest offers high initial capital of USD 100 000 so even if you make few losses then also you can recover and come back.

What piece of advice can you provide for beginners?

Lastly, I am myself a novice trader but if there was one piece of advice I would give to rookie traders than it would be "Do not worry about your profits but restrict your losses to a minimum and the profits will follow".

I would like to conclude by saying only this quote "The world of Forex is very fickle so our job is not to reason why, but our job is to only sell and buy".

P.S. Learn the contest rules and sign-up for the next round here.

Last week’s top traders in our latest recap.

The most active client

Placed 548 trades, including 435 profitable ones and 113 that resulted in a loss. The majority of trades involved GBP/USD.

Maximum deposit growth

In one trading week on a single account was $44 000.00.

The most profitable trade of the week

Resulted in a profit of +$6430.00. The trade was opened on the 9th of November at 1:40 PM and closed on the 23rd of November at 10:14 AM.

The most interesting trading instruments chosen by traders:

• COPPER — Copper futures. Contract volume is 25 000 pounds (around 11.34 tons). Minimum price step is $0.0005 per pound ($12.5 per contract). Millions of investors follow the copper quotations every day. Copper is the first metal to be worked and used by man. Total world production of copper is about 16 million tons per year;
• AEX — AEX index futures. The size of the contract is calculated by multiplying €200 by the index quote. The quotes are specified in the index points. 1 tick equals 0.05 index point and costs €10.00. AEX index is one of the Netherlands’ most important stock indices and encompasses 25 of the country’s major companies;
• @EGBP — Euro/pound cross currency futures. It's a low activity contract with daily volumes not above several hundred contracts. The size of the contract is 125 000 EUR. Minimum price fluctuation (1 point and 1 tick) is 0.00005 GBP for a contract or 6.25 pounds per contract;
• #MSFT (Microsoft Corporation) — the world’s largest software company. As of 2016, the company's revenue is $86.6 billion. Net profit for July–September 2017 was $6.58 billion, or 84 cents per share. Last year’s values are $5.67 billion and 72 cents;
• #AXP (American Express) — American financial company. The most famous products of the company are credit cards, charge cards and traveler's cheques. In 2016 American Express was listed 95th in the Forex Global 2000 rating of the major public companies, it also was 247th by revenue, 104th by net profit, 171th by assets and 129th by market capitalization.

Earn more with Grand Capital

Grand Capital will participate in Money Fair expo in Shanghai from the 1st to the 3rd of December. Money Fair is the largest financial expo in China and will be welcoming the participants for the 15th time in 2017.

We will present Serenity, the first blockchain-secured marketplace for financial market trading. Our team will be expecting visitors at the booth W02. Join our WeChat group, take a photo at our booth and receive gifts from our company!

Expo address: Shanghai Exhibition Center, No 1000 Middle Yan'án Road.

Open hours: 9:00 AM–4:00 PM on December 1st–2nd and 9:00 AM–2:30 PM on December 3rd. Learn more on MoneyFair website.

Grand Capital team

Follow the best traders in our weekly recap.

The most active client

Placed 742 trades, including 505 profitable ones and 237 that resulted in a loss. The majority of trades involved EUR/USD and GOLD.

Maximum deposit growth

In one trading week on a single account was $22 381.47.

The most profitable trade of the week

Resulted in a profit of +$5959.93. The trade was opened on the 6th of November at 12:14 PM and closed on the 15th of November at 4:06 PM.

The most interesting trading instruments chosen by traders:

• LIVE CATTLE — deliverable futures contract for 40 000 pounds of live cattle. Household livestock raised to produce beef is the largest segment of American agriculture. Minimum tick is 2.5 cent, which equals $10.00;
• ORANGE JUICE — orange juice futures contract. The contract size is standardized and is 15 000 pounds (approximately 6.9 tons). One tick is 0.05 and costs $7.5;
• #ROSTEL («Ростелеком») — a Russian largely state-owned telecommunications company, provides local and long-distance telephone services, broadband Internet access (Russia’s largest provider by the number of subscribers), interactive television, cellular communications, etc. Turnover: 297.45 billion RUB (2016);
• #GOOGLE (Google Inc) is an American multinational public corporation that invests in web search, cloud computing, and advertising technologies. Google supports and develops a number of Internet services and products;
• #CVX (Chevron Corporation) — America's second largest energy corporation (after Exxon Mobil), one of the biggest companies in the world. In 2015 it was listed third in Fortune 500 and twelfth in Fortune Global 500 in 2014.

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