Never break trading rules. Interview with Dmitry Myasnikov, the winner of $200 in Drag Trade

When there are no rules, trading turns into chaos. When your own money is at stake, the value of rules becomes more obvious than ever. So thinks Dmitry Myasnikov, the winner of 337th round of Drag Trade. In the interview, he told us of his serious approach to Forex and the maxims of his multicurrency trading system.

Trader’s path

My very first trade was placed on a demo account in late 2009. The next year I started trading on real accounts and participating in contests on demo accounts along the way. I’m an accountant, but recently I’ve been working remotely from home for health reasons. I try to spend three hours a day on Forex, and I trade every day. I’m sure that anyone can become a trader as long as they don’t break their own rules and trade with multicurrency system. Now Forex is my favorite hobby, but I hope it becomes my primary occupation in five years or so, since the potential profit is not limited by anything. It’s easier for me to trade on five small accounts with $200 on each, than on a single one with $1000. I expect at least 3% profit from each of my accounts, but the last month resulted in 10% to 25% profit.

My trading system

I don’t pay heed to analytic forecasts. Every morning I look through the economic calendar, watch news and if something important comes up, I try to avoid trading half an hour before and after the publication. Or at least I trade with instruments that likely won’t be affected by that particular piece of news. When opening trades, I rely on signals I received from my own trading system. I repeat myself, it is vitally important to develop your own trading system and never break its rules. My trading system is multi-currency, it’s adapted for all currency pairs. The system is based on the crossing of moving averages, 50 and 100, and also AO indicator from MT4. Within my system I trade only with the trend direction on H4 and H1 charts. AO indicator on H4 chart confirms direction of the trend.

Trading instruments

Almost every day I open short-term scalping trades. I have experience and a developed multi-currency trading system, so now I can trade any instruments from MT4, even metals and oil. One of my first exotic instruments was GBP/HUF pair (British pound/Hungarian forint). The spread was 65 points, but I was easily expecting profit from 500 points, and sometimes even up to 2000.

Drag Trade contest

Grand Capital offers favorable conditions, competitive spreads and fast withdrawal. And Drag Trade is the only contest where you can win real money in an hour of trading. I won thanks to correctly chosen instrument, GBP/NZD pair. I assumed that it was headed for correction (for about 100 points) and during the contest I traded only with it. And so I won.