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Interview with Top 10 of the Tournament Leaderboard: Yi Xiang

This post was originally posted here. This is Yi Xiang who is currently in the top 10 on the leaderboard, out of over 2,000 participants.

We did a quick lookup on his tournament portfolio here and he currently has a return of 18.6%!

We asked the questions that followed and this is what he had to say.

How many years have you been trading and which markets do you usually trade?
Yi Xiang: It has been 2 years since I started trading and I usually trade the U.S. markets.

What’s your profession?
Yi Xiang: I am currently an University Student.

How did you start trading and what got you started?
Yi Xiang: I first started my trading journey in SGX stocks.
I would say what got me started initially was my interest in Finance. I was serving my National Service back then and in my free time, I liked to read books on investing and trading. After gaining some knowledge, I decided to put what I learnt to real-life applications and that was how I got started.

So what’s your usual trading plan like?
Yi Xiang: I will study the charts of the stock(s) that I am looking to trade and determine the entry price, stop loss level, and take profit target. I usually will not meddle with my plan unless there are significant events/news that would impact the stock.
I will also read the news released the previous night and in the morning to keep myself updated on market happenings.

Then how do you usually determine entry for a particular trade?
Yi Xiang: For trading, I rely mostly on Technical Analysis and market sentiment. I will look at candlestick patterns, support & resistance, trendlines to determine the three price levels mentioned in the previous question. I will enter at or near support & resistance levels, re-test of trendlines, or after a certain candlestick pattern is formed.

How do you usually determine an exit for a particular trade?
Yi Xiang: I also base my exit based on Technical Analysis. As mentioned previously, I will exit at support/resistance levels, or when the price touches the trendline.
I might also exit if there has been a change in market sentiment due to reasons such as sudden news release.

Finally, what would you say to new participants & traders of this year’s tournament who want to trade well?
Yi Xiang: To trade well, you need to have a proven strategy. As this tournament is using virtual capital, it is a really good chance for aspiring traders to test out their strategies without the risk of losing your own hard-earning capital.

So I hope that through this tournament, participants would be able to find strategies that suit them. Also, I hope everyone will learn more about DLCs through this tournament and hopefully be able to incorporate DLCs in their real trading.

Finally, I would like to wish everyone good luck in the tournament and enjoy the trading process!

Also, join us LIVE for a market outlook and insights with our trading champions next Wednesday here!

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