This mini-interview series is to showcase finalists of the tournament and what propels them to be able to trade well. This post was originally posted here.
We are interviewing the Top 20 Finalists from the Elimination Round of the SG Active Trading Tournament, beating 3,000 other participants of the tournament – in batches of 5 people per interview. The following participants are the people we interviewed in this post:
@Weilong2001 Rank #19
@Arul Rank #12
@YiZhit Rank #7
@U1_14 Rank #4
@Kannamaraja Rank #
1. What’s your profession? How many years have you been trading and which markets do you usually trade?
Weilong2001: I’m a student and have 2 years experience in trading Singapore stocks.
Arul: I’m a factory worker, newbie in stock market, so far trading using virtual money and not yet started to use real money to trade.
YiZhit: I’m in the accounting industry with 1 year experience in the stock market.
U1_14: I’m a university student, with 1 year plus stock market experience and I usually trade in the forex market.
Kannamaraja: I’m a student with less than 6 months trading experience. I usually trade bursa stock with small capital.
2. How did you start trading and what got you started?
Weilong2001: Advice by my parents
Arul: Started to trade virtually when I joined this trading competition. Before the competition I started to learn the basics of trading on YouTube.
YiZhit: I got started on Forex trading as introduced by my friend.
U1_14: I took an online forex trading course 2 years ago and learned a lot of new things there before I started trading.
Kannamaraja: I learn from my friend and get guidance from YouTube.
3. What’s your usual trading plan like? How do you usually determine an entry and exit for a particular trade?
Weilong2001: Long term. I will determine the company’s history and reliability before buying shares. When there is no growth and having bad financial statements consecutively, I will sell the shares.
Arul: I normally will do swing trading because it suits me since I do not have much time to track my portfolio due to work. I will use candlesticks patterns, support and resistance to determine my entry point. Meanwhile, using indicators like RSI and Bollinger bands to determine exit points.
YiZhit: I use technical analysis and will analyse entry and exit points by using support and resistance lines.
U1_14: I normally use price action trading. The 20 and 50 moving averages are usually my entry point. Besides, I usually use trendlines and indicators such as RSI to determine my exit points.
Kannamaraja: I do research on the share using price action, technical, and fundamental strategies. Moreover, I use support and resistance lines as well as trendlines to determine entry price. I think the safest method is to exit after a failed breakout or breakdown, taking the profit or loss, and re-entering if the price exceeds the breakout or breakdown high or low.
4. As this tournament focuses on trading Daily Leverage Certificates (DLC), what is your experience trading DLC?
Weilong2001: Price movement is in multiples so you will lose more and profit more vice versa.
Arul: DLC was one of the most liquid products. You can easily lose money if you do not have proper risk management.
YiZhit: I have experience in trading Alibaba and Sands DLCs.
U1_14: It’s a new experience for me to trade DLC products . It is very volatile and highly risky.
Kannamaraja: DLC products are more suitable for short term trading to maximize more profits. Without proper trading plan, DLC products will cause traders to lose more money.
5. What gives you an edge to emerge as the Ultimate Winner of the Tournament?
Weilong2001: Be confident in every trade you make and make the right decision.
Arul: Will try my best and will improve my knowledge about trading so that I can edge to be the winner in this competition.
YiZhit: I think knowledge is the key to winning.
U1_14: I educate myself in the ways of the market and understand trading psychology.
Kannamaraja: My consistency in trading will give me an edge to emerge as the winner.
6. What would you say to new traders who want to trade well?
Weilong2001: Learn the fundamentals and spend time on it.
Arul: Focus well on improving knowledge before trading because knowledge is power.
YiZhit: You should invest your knowledge first before you start trading in the real stock market.
U1_14: You should develop and test your trading strategy.
Kannamaraja: We should treat trading like a business and always have a good trading plan.
Stay tuned for our SG Active Trading Tournament’s Final Round where these top traders will battle it out, officially commencing next Monday, 11 Oct till 22 Oct!
We wish all of them good luck!
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