Interview with Wen Bin Yang - Stage 1 3rd Place

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The 1st stage of the 2020 Trading Cup was a thrilling race to the end, a few of the top 3 stumbling in the last few days while others rocketed up the leaderboard.

In the end, Wen Bin Yang came the third place.

Renee Li had the pleasure of interviewing Wen Bin Yang over the phone, capturing his background, his strategies and how he was able to achieve such an outstanding return.

Below is a reminder of the incredible returns posted for June, in stage 1.

Scroll down below to read the full interview.

Question:

Hi, Mr. Yang, on behalf of ACY Securities, I would like to congratulate you for ranking third in stage one of the 2020 Trading Cup competition. Congratulations to you! And would you like to introduce yourself?

 

Answer:

My name is Wen Bin Yang. Thank you for having me!

 

Question:

So, Mr. Yang, how long you have been trading?

 

Answer:

I have been trading for three years.

 

Question:

In 2020 Trading Cup stage 1, what trading instruments did you trade?

 

Answer:

I trade gold and oil and GBP/JPY. I like to trade products that tend to fluctuate a lot. I prefer those products which are showing volatility.

 

Question:

What method do you like to use to do analysis, such as fundamental analysis or technical analysis.

 

Answer:

My way is very simple. I like to use breakouts. And I think that everyone has their own way of analysing the markets. And I think the most important part is to stick to your plan. So it doesn't matter what kind of trading strategies or trading plans you set once you plan to do it, just stick to your plan. Implementing the plan is the most difficult part. Also, I think for many traders the percentage win rate is above 60%. Although the rate is more than 50%, traders still end up losing money. I think the reason is not because they are not good at analysing. It is because they cannot stick to their plans. You need to implement whatever the strategies and stick to it. In fact, I think how I dropped from second place to the third place is not because my analysis is not good. It is because I did not implement my trading plans well at stage 1 trading competition. I find myself often predict the trends right, but I cannot stick to the plan, and I did not implement my strategies 100%. That is the actual problem.

 

Question:

What do you think it might be the reason why you came third in stage 1 2020 trading cup?

 

Answer:

To be honest, I'm not entirely happy with the result. I think I could have done better. I was in second place. There are things that I wish I could have done to improve my performance at stage 1. However, because it is after all a trading competition, I had to adjust my trading style. My trading style was quite aggressive in the competition. I traded heavily and my mindset was also different from my mindset in a normal trading day. When I was in second place, I tried to overtake the first place and that made my trading style became even more aggressive. But it did not do good to me as I dropped one place and ended up coming third.

 

Question:

Regarding take profit and stop loss, what are your strategies?

 

Answer:

Like I said, because it is a trading competition, my trading style and strategies were also adjusted accordingly. I traded quite aggressively. I took heavy positions. And all I wanted in the competition was to overtake the first place. And the other factor was I was one day short in stage 1 trading competition.

 

Question:

And is there any advice or suggestions you would like to share with us about 2020 Trading Cup?

 

Answer:

I think, potentially, you can make each stage duration last longer. Maybe we can try two months next time.

 

Thank you for doing the interview, Mr Yang. Congratulations again on placing third in the 2020 Trading Cup stage one competition.