Forex Trading Challenge Lands One Smart Trader A Cool $5,000 Cash

Dec. 14, 2011 - PRLog -- Sydney Australia - December 14, 2011 – You are no doubt aware of the fact that trading index CFDs and the Forex markets can lead to both potential gains and potential losses but what if you had the opportunity to learn from someone who managed to make several hundred percent over the course of 1 month?

So the question on everyone’s lips is how the CFD challenge winner managed to make such an impressive return in a relatively short space of time. Euro zone crisis, emergency meetings and a raft of news reports fuelled the trading action during October and Jonathan spent a good deal of time focusing on what he believed was the strongest economy in the Euro zone, Germany. Focusing almost exclusively on the one Index CFD (the DAX 30 Index CFD) and staying consistent throughout are what catapulted Jonathan to the lead and kept him there even with some amazing challengers over the last couple of days.

“I like to focus on strong economies and my recent research led me to focus almost totally on the German Index CFD. I prefer not to trade those products I don’t understand so I stayed clear of Forex CFDs during the competition so I could devote all my attention to the DAX. Given the Euro crisis playing out I also wanted to get access to high volatility and the DAX ticked all the right boxes and allowed me to fit in some active trading outside of my normal work hours.” Said Jonathan.

What advice can you impart to budding traders?

Conflicting advice runs rampant in this industry and you only have to ask 5 analysts what they think is going to happen next and you’ll likely get 5 different answers.

Jonathan spoke adamantly about finding a news source you believe in and can rely on and then sticking with that particular idea, concept and news updates. For international news, Jonathan was able to configure the Capital CFDs (http://www.capitalcfds.com.au) platform with his own news feeds which updated automatically whilst logged in to the trading platform.

“If you believe and read everything you’ll just get confused so stick to what you believe is in line with your thinking and trade it accordingly.” Mentioned Jonathan.

In addition, Jonathan placed a lot of emphasis on sticking to his game plan and being consistent.

“There were many times when I dabbled in other index CFDs, the occasional Forex CFD and even Crude oil, but in the end it just kept distracting me from where my focus needed to be. The last 2 days of the competition I placed well over 20 trades solely focused on the DAX and the results speak for themselves.” Said Jonathan.

Capital CFDs is planning on running several more trading competitions over the course of 2012 and to keep updated on the new challenges, go to http://www.capitalcfds.com.au and register for a live demo trading account.

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About Capital CFDs
Capital CFDs is dedicated to changing the face of low brokerage CFDs in Australia and throughout the Australasian region with extremely tight spreads on all commission free trading products including indices and Forex CFDs.

Disclaimer: CFDs are leveraged products and carry a high level of risk which means you can lose more than your initial deposit. Capital CFDs is the trading name of London Capital Group Pty Limited which is regulated by ASIC. ABN: 85143553628. AFSL No.364264.