Pinoy traders bag two of three awards in the ATFX Online Trading Competition

Besting everyone in Southeast Asia

ATFX recently held the first online trading competition in Southeast Asia (SEA) participated in by more than 100 traders from the Philippines, Malaysia, Thailand, Vietnam, Taiwan, Korea, Cambodia, and Myanmar.

At the end of the over 10-hour trading contest period, two Filipinos were among the top three traders to earn the highest percentage in returns. Grand champion Danilo Rosal from Quezon City bested everyone with a 34.75% profit; while Raelan Mario Andam Andres from La Union finished second runner-up after posting a 14.27% profit.

Experience is the best teacher

“There are some things that you will not learn in school. When you are a trader, you have to always keep yourself informed of what’s going on around you. You have to keep on learning and reading. Then, you apply what you learn so that you can make money,” says Rosal who packs 22 years of trading experience.

He mainly traded major currencies for many years of his trading career. It was only recently that he has entered gold commodities, energy, and oil markets.

It was his first time to join an online trading contest and was aware of the fact that there could be better, younger traders, especially since the competition was open to traders from different parts of Southeast Asia.

However, this did not bother him because his original intent was different. He joined the competition, not for the purpose of bagging an award but to make money out of the $300 he has set aside for the competition. He set a specific threshold of what he would spend for the competition and just intended to make the most out of it. He also acknowledged that he could lose that $300 and he knew that it was an amount that he was willing to risk and not afraid to lose.

This proved to be a smart plan that led to a bigger win. Because there was no pressure on himself to win a competition, Rosal only focused on putting all his strategies on how to work his $300 investment.

“I used a combination of trading strategies that I’ve learned over time. For this one specifically, what proved to be helpful was fastest, moving averages, and parabolic,” he shares.

Rosal has been with many brokers but he urges his new clients to try ATFX not only because of the credibility and stability of the company operating in many different countries but also because of the service that it provides to its customers, most especially its effort in educating Filipinos about forex trading through their local education partner, SmarTrade.

For someone who has been in the trading game for many years, Rosal still acknowledges the risk of his trades. He knows that he can’t be complacent. This is the reason why he continues to study the different research tools provided by ATFX like the economic calendar.

“If you intend to make trading a business or a career, you have to devote time and then continue learning. Continue to study and look for ways that could give you good results. Attend the webinars of SmarTrade, while they are still available because you will learn so much from them. It’s free, no commitment at all, and offered as a pure learning session,” advises Rosal.

Trading can be a family affair

To be a successful trader is one feat. To be a successful trader at a young age is something that only most of us can dream of. But to make it a family affair is something that is very unique in the story of the Andres family. Father Raelan competed with his sons Andrew, 27 years old, and Adriel, 25.

It was in fact Andrew who first got into online trading. Two years after he graduated, Andrew was introduced to forex trading by a friend. Looking for extra streams of income and the attractiveness of earning while enjoying time freedom, he took trading by heart.

He then realized that it was something he can excel in and make income out of. There were also not a lot of people who were versed in trading so he saw great potential in what he was doing.

As he progressed with his trading journey, Andrew came across ATFX. Having experienced several other brokers, what stood out for the Andres family was the assistance that ATFX extended to them. Their ATFX consultant attended to their concerns promptly and professionally.

Asked for advice for those who want to join trading competitions, Andrew said, “Join for the experience but always trade with care. We all know that there are risks in this kind of investment, so set in mind your boundaries.”

The brothers also have this to say to those who would like to start on their trading journey, “You have to keep your emotions in check and think about your strategies so that you can execute your plans efficiently. Also, learn from your mistakes. We have been trading for five years and there were times we almost gave up but we pushed through and planned what we could do better the next time.”

Carl writes for WalasTech when he's not working full-time. Give him tips and/or leads at [email protected].