In December 2017, Alpari launched Trader Wars, a new contest for Forex traders. One of the contestant to win a prize was Mikhail, who claimed the runner-up spot overall. We conducted a short interview with Mikhail, where we asked him to tell us a little bit about himself and to share some of the secrets to his success.
Why did you decide to take part in this contest? Did it get in the way of your regular trading? Was it out of love for Star Wars?
I’ve taken part in Alpari contests before, but since I’d never been particularly successful, I took a long break from them. Then, this new contest suddenly appeared and it was very interesting to compete in. It had my undivided attention for the full three weeks, so I didn’t even bother with my usual trading. Still, I’m happy with the results.
What’s the main thing that separates this competition from the rest?
The main difference is that it’s made up of two completely different stages. The first stage is more of a marathon, where you have more time to correct any mistakes you might make, whereas the knockout stage is more of a mad dash to the finish line where even the smallest mistake can prove fatal.
Complete the phrase: “Forex is…”
Forex is a complicated, but very interesting affair.
What qualities are essential to nurture in order to become a successful trader?
I wouldn’t call myself a successful trader, so I’m not going to give any advice on how to become one. One day, I’ll have something to say on the matter, but it’s too early at this point.
Are you one of those people who likes to break the rules, or do you try to abide by them? Why?
I try my best to abide by them, of course.
What films, books, or other materials have had the most influence on you as a trader? Why?
At the moment, I’m at the stage of revising all the stuff I’ve seen and read.
What sort of trading strategies do you prefer? Short-term or long-term?
I prefer short-term strategies as I’m better suited to them.