Niall Fuller, a professional trader and renowned trading coach who has taught over 15,000 students, has won the $1 million grand prize in one of the most lucrative trading competitions in the world.
Fuller, who has been trading since 2002, completed the Million Dollar Trader Contest with an impressive ROI of 369%. Participants competed for 3 months from February to April 2016.
“It was tough competition and during the 3 months of trading, market conditions were unstable. Winning the competition was the result of a balance between looking for quality trading opportunities, applying sophisticated money management, and maintaining the discipline not to trade or risk giving up the lead,” Fuller said.
Fuller learned to trade in high school, initially showing an interest in the stock market and quickly moving into derivatives, futures, forex and other leveraged products.
He won a $1 million trading competition using his own trading strategy based on price action analysis.
“I’m a firm believer in keeping things simple, and that’s true of my trading style and strategy,” Fuller said.
“I have been trading price action strategies for most of my trading career, and these are the same strategies that I have taught other traders,” he added.
Fuller, who advocates a “less is more” approach, traded only a handful of times during the competition, mostly taking positions in major currency pairs, commodities and Indices.
There were some standout trades in which he kept adding winning positions as the market developed, a money management concept known to traders as a pyramid scheme.
“I’m not a day trader, I’m more of a swing trader, so I only traded a few times during the competition,” Fuller said.
“Because of the competition, I knew I would have to take some risks and changed my money management plan accordingly. Whenever possible, I aggressively increased profitable positions during trending movements, effectively increasing the size of the initial position in a larger position, which significantly increased the risk/reward ratio on each trade.
About Niall Fuller
Niall Fuller is the CEO and Founder of Learn To Trade The Market, a world leader in professional trading education and training. Since 2008, its trading education service has trained over 15,000 students. Nial is an avid blogger, writer and market analyst. He is currently actively managing his own portfolio.
For more information, please contact Niall Fuller at:
Email or phone via: https://www.learntotradethemarket.com/contact
Twitter: https://twitter.com/Niall Fuller
Source: Learn to Trade the Market