Interview with Yuan Tsui – 2nd Place Stage 2 with 664% Return

We are excited to bring you one of our most exciting and personal interviews with Yuan Tsui, who came 2nd in Stage Two of the 2020 Trading Cup.

In this interview, Yuan outlines:

·         how he got his start in trading

·         The importance of a trading coach

·         Why getting feedback is critical

·         Why he trades so many instruments

·         How he organises is work-life and trading balance

·         His key to success

·         The importance of giving back to charities

·         What drives him to achieve his results

·         And much more

​​​Click play on the video below to listen to the full interview.

Hello, Mr Tsui, First of all, congratulations on your second place in the 2020 Trading Cup second stage event with a remarkable return of 664%. Thank you for the interview. Could you please introduce yourself to your investment friends?

Thank you. Hello, everyone. I'm Tsui Yuan (Nick), a trader from Taiwan.

My professional career is as a fitness coach.

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In stage two, I was lucky enough to come 2nd, and I feel very lucky and grateful.

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How long have you been in trading?

I'm a trading novice, and I have only been trading the markets live for two months before participating in the competition.

The funny thing was, I was even asking my coach and trading mentor, Joyce, on how to place certain orders in MT4 in May.

Although I haven't been actively trading for long, I am very passionate about the markets and have been monitoring them for a few years.

With such results, I would like to thank my teacher and coach, Joyce, the Head Coach of the Chang Ai Trading Team, and helping me become a better and more consistent trader.

How did you get started with trading?

I am very lucky. I wanted to learn how to invest and to increase my income. After the epidemic, I understood the importance of multiple incomes as the fitness industry was hit hard.

I have known Joyce for around 3-4 years. She is known as a super trading coach in Taiwan and started training me actively last year.

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I know that it is not easy to find a good teacher with practical experience in trading. I feel very lucky to have found a trading coach to guide me and help avoid the many mistakes new traders are prone to make.

I am extremely happy that Joyce was keen to take me under her wings so I can learn from her strategies, have the confidence to compete in the Trading Cup and to analyse my personality.

I am a Sagittarius and have been known to make rushed decisions and take on trades I probably should not.

My teacher has been able to help me adjust my strategy and risk control and correct errors in a timely manner according to my personality.

This allowed me to make a profit in my first month in entering the 2020 Trading Cup.

Note from ACY Securities: Trading leveraged products involves risk and you can lose more than you start with.

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After making a strong return in July, I will continue to revise the trading results from July and strive to get better.

I am also grateful for the quotes given by God for such great results. Thanks.

In this competition, we looked at your trading history. You traded around 30 different instruments and made more than 600 trades. This activity level is that of a full-time trader. Are you still participating part-time or using an Expert Advisor (EA)? How are you doing it?

This is the secret of the team, haha. My trading style is manually executing all trades into the MT4 trading platform across all the different instruments I trade.

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I don’t use an Expert Advisor or EA. Our trading team gets together daily to discuss the direction and momentum and trends of the different trading instruments, so we have a focus for the day ahead.

Our live trading group monitor the markets and makes comments hourly, providing different signals across the markets each person is monitoring.

So, it is a concerted effort, which is then discussed with our teacher.

I did notice nearly all the winning traders in the Trading Cup have been focused on Gold, but to make my performance more consistent and to access more opportunity, I preferred to take any trade that had momentum on its side.

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I could see the times you were making your trades, with the earliest position being opened at 5-6pm Beijing time, and the latest is 3-4 o'clock in the morning. Your trading hours are quite long. How do you manage your time with work, life and trading?

As mentioned above, it is a team effort, with my teachers and fellow traders in our group running analysis around the clock.

This enables our team to benefit from the efforts of multiple traders. We have meetings around 6:30am, and I like to get up early, so that works out fine for me.

The earliest person to get up in our group is a trader from Malaysia and then we spread the analysis around the clock among all our team members, right through t late night.

We then get the possible trading signals for the day and can make our decisions based around those.

I teach fitness classes during the day and I take the time to watch the markets and my account with my mobile phone when time is available.

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After I see a signal and it meets my criteria, I take the position, set the stop loss, remain positive about my opportunity and let the market do its thing.

Once the day is nearly finished, I will review my open trades, adjust stops as need be, review my support and resistance lines and then go to bed with gratitude.

What does your family think about your trading?

Thanks to my parents for their support. I want to succeed in trading, mainly because I want to help my family with paying off the house, and I hope that I can take my parents on an overseas trip after the pandemic.

What are your challenges in trading? And what are the keys to success?

As I am relatively new to trading, my biggest challenge is around organising my time and executing the trades as they become available.

I've managed to learn a lot of skills and strategies from my coach and mentor, Joyce. I have learned a lot of real skills that apply well in the markets.

The challenge in the first month is to confirm whether the signal is correct, and the most important thing to learn how to successfully manage my risk.

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In the beginning, I was afraid of losing money. This led me to close many positions too early, resulting in a low win rate, despite following excellent trending trades.

My teacher would ask us to make a performance review report and review and correct it through a mathematical model around risk management.

So, my challenge initially was to trust in the risk management process, knowing I had a small amount of risk on any one trade relative to my account size.

My next biggest challenge is being more disciplined around the placing of trades with the hope of increasing my win rate.

My task for the next month of trading in the competition is to manage my risk even better than what I did in July.

What do you believe has been the key to your success?

In addition to having good teachers and teammates, our teachers will also guide us on how to give back to society by giving away the proportion of the money earned.

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This month, as my performance has increased, I have also donated to 3 charities.

Teacher Su Hui, the Feng Shui master of our trading team, will also help our contestants to hold an incense stick and to pray, which is also very helpful for strengthening the mind, the energy field and our energy.

There are many noble people around me, haha.

That's great. So, what is your trading method, can you share with us the technical indicators you use?

We use pure technical analysis, and all economic news events will be reflected in the price early. We use a couple of main indicators, which are the Moving Average and various oscillators.

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Our teacher has designed a completed standard operating procedure (SOP) on how to identify trends, open positions, how to exit and complete risk management.

As you can appreciate, the exact criteria are confidential and remain with Joyce, so I cannot disclose all the tools and trade ideas we use.

Finally, I would like to invite you to share your views on the 2020 Trading Cup and your experience so far with the trading contest.

Finally, I want to use this interview to

1.       Thank my parents for supporting me in my trading. I'm so excited to use my new trading skills and hope that will allow me to retire sooner.

2.       Thanks to the head trading coach, Joyce, who taught us from more than ten years of trading experience and gave us good values ​​in life, allowing us to realise our dreams, create miracles, and be on the world stage of trading.

3.       Thanks to the senior trading team as well, including A  Xian, Bing Bing and A Shin for their assistance and guidance. A big thanks to my trading teammates, Tuo Tuo, Jesse, Qiu Mei, YP, Connie, IVY, Wa Wa, A Pin, Kimbal, Jing Xiang, Cherry and A Xue. Plus, our trading partner from Malaysia, Brother Mao Sheng, who supports and reports back from morning to night, allowing the team to perform well under his guidance. It's great to have you.

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Finally, a big thanks to ACY Securities, again for hosting such a great global trading competition. I hope that the competition will continue to be held for many years to come. I wish you all successful trading!

Thank you, thank you all!

Trading leveraged products involves risk and you can lose more than what you start with.

Other Interviews with the winners in 2020

Click the links below to catch up with interviews from our past champions.

·         Interview with Wen Bin Yang - Stage 1 3rd Place

·         Stage 1 Interview with the Champion Mao Long Yang

·         Algo Trading His Way to the Grand Final – Interview with Gustavo Correa

·         Interview with One of South Africa’s Best Traders

·         Interview with Mr Jilin Xu in the 2020 Trading Cup

Are you ready to join the next Stage? Click here to register an account.

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Ashley Jessen // Author of CFDs Made Simple, Chief Operating Officer at ACY Securities

Ashley Jessen is the author of CFDs Made Simple and Chief Operating Officer at ACY Securities. He has been in the financial services industry since the year 2000 and worked for some of the leading companies in the CFD, Forex and Online Trading space.