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BOOK YOUR FREE STRATEGY SESSION NOW >>In this video, we spotlight Melvin, our “Trader of the Month” for December. After his first victory last September, Melvin re-entered the contest in December and triumphed for the second time, earning $17,800 with an impressive return of +41% and a drawdown of -5%.
On which markets did he trade to achieve this result? With which strategies and what risk profile did he adopt?
Find out in today's video, where we discuss in detail his trading performance as well as those of three other traders who stood out for the great results they achieved in December:
-Andrea, earning more than €2,000 with a return of + 17%
-Alessandro, earning more than €13,200 with a return of +33%
-Federico, earning more than €9,300 with a return of +56%
We remind you that the contest is reserved for Unger Academy® students and rewards the participant who achieved the best live trading performance during the reference month (click here if you want to learn more about the contest).
By watching the video you'll discover:
-How Melvin managed to win the Trader of The Month’s contest for the second time
-Full details of Melvin’s trading results and the other three traders who stood out for their excellent results
-On which markets they traded, with what kind of strategies, and with what risk profile
-Their advice for those approaching live trading
Enjoy! 😉
PS. If you want to watch previous Trader of the Month videos, just click here!
Introduction + What is the Trader of the Month
Hello and welcome to this brand-new video! Today we’ll look together at the results of the Trader of the Month contest for December 2023.
We’ll see which student achieved the best performance and won the contest. And we’ll also take a look at the performance of those who didn’t win but still achieved respectable results.
We’ll also try to give some trading advice based on the direct experience of our traders in the markets.
We’ll see what has worked best and see if it can possibly be applied to our live trading.
As a reminder, Trader of the Month is a contest that rewards those Unger Academy students who have achieved the best results in live trading in the reference month.
Speaking of our contests, there’s big news: to celebrate our tenth year anniversary, we have decided to double the prizes up for grabs for the next six months.
For all editions of the Trader of the Month and Strategy of the Month contests from January to June 2024, the prizes will be increased from €1,000 to €2,000 in the form of Amazon vouchers.
One of the coaches at Unger Academy here, and I can’t wait to start.
Andrea, who earned €2,084.16 (with a return of 17.09%)
The first statement we see is Andrea’s, who has gained €2,084 over the past month, representing a return of +17.09% with a drawdown of just -3.20%.
Very good, indeed. Congratulations, Andrea.
What instruments did Andrea trade? Well, mainly Gold, and I’m assuming this is a common denominator of the top performers in the last month, and it was definitely a good month for Gold.
We also have the Nasdaq, which we have had it for so many months in the top performers.
As you can see, Andrea has a regular equity line that goes up virtually uninterrupted from the beginning to the end of the month.
Alessandro, who earned €13,236.32 (with a return of 58%)
Great results, congratulations Andrea! Now let's move on to the following statement which is Alessandro's.
This is a screenshot, so it’s not particularly easy to decipher.
I suggest that you all use Interactive Brokers' Portfolio Analyst to download the statements in more detail.
However, it is enough to see that Alessandro had a very good performance: $13,236, corresponding to a return of +33.52% with a drawdown estimated by us to be around -5%.
The equity line is very steep in the first part, and then flat in the second half of the month.
From this statement it’s impossible to tell what markets Alessandro worked with, but I’d say that these are certainly important results.
Federico, who earned €9,321.68 (with a return of 56.50%)
Moving on, we see Federico’s statement that shows a gain of +56.50%, or €9,321. Take a look at the results here. We estimated a drawdown of around -12%.
The equity line is very regular. It rises very strongly in the first half of the month, only to trigger a sideways movement in the last days of the month and finally give a final upward push.
Again, the main instruments are Gold and the Nasdaq, which have contributed significantly to this outstanding performance.
Melvin, the winner, who earned €17,842 (with a return of 41.60% and a drawdown of 5.13%)
Excellent job, Federico. And now to the statement of the winner, an old acquaintance of ours, Melvin, who has already won this contest a few months ago.
And this is his second win. In December, Melvin gained +41.6% with a gain of $17,842 and a drawdown of -5.13%.
The performance is excellent, and it’s very consistent.
Equity rises almost continuously from the beginning of the month to the end of the month.
What instruments did Melvin trade? Mainly bonds, the Mini Dow, and Orange Juice. These are the top performers for this month.
On the other hand, the Yen and Crude Oil have performed badly.
Congratulations, Melvin. By the way, this is the second time you have won this contest and that’s a sign that you know how to work correctly. It is certainly no coincidence, and your performances are good proof of that.
Melvin was very nice, by the way. We talked briefly, and he reminded me a little bit of his story.
He has been a student at Unger Academy for two years. Still, he’s been trading live for quite some time, so he was already an experienced trader when he decided to join the Unger Academy family.
He is a programmer, so he has a technical background, develops software, and has a great passion for the markets, which he pays much attention to.
As anticipated, he was previously a trader and developed multi-market systems as a systematic trader.
He values the replicability of the Unger Method and currently has a portfolio of about 30 strategies, which are proprietary systems and developed using the Unger Method.
What instruments did he use? Micro futures and some large contracts, as we have seen.
What’s unique about Melvin is that he can trade with very tight stop losses, so even without excessive capital, he can trade larger futures contracts.
He has a bias for breakout systems, so he prefers this type of trading approach, especially in Crude Oil and Gold.
In the last chat, he told me about a system that has given him a lot of satisfaction in the last month. It is based on an indicator called "Zig Zag" to which he applied Unger Academy filters.
He uses it on different time frames, with trend-following logic, and of course, he also uses trailing stops to allow the trend to run better.
Finally, I asked Melvin for advice for those approaching live trading, and his advice was to build confidence in the method a little at a time.
So, starting with small amounts that, let’s say, leave us comfortable even with the inevitable stop losses that we have to suffer when live trading in the markets.
So, learn from live trading and then slowly increase the size of your positions. Finally, I asked him what developments he expects for the future.
He confirmed to me that he is interested in options trading, and intends to expand trading in what I consider to be beautiful financial instruments, options.
Conclusion
Okay guys, if your goal is to get results like the ones you just saw, and if you want to enter this contest dedicated exclusively to Unger Academy students for a chance to win a €2,000 Amazon voucher each month, then click the link below.
You’ll be redirected to a page where you’ll find the contest rules. From there, if you wish, you can book a free consultation with one of our tutors, who will give you all the information you need.
That's it for this month. Goodbye to you all and we will see you next month!
We'll help you map out a plan to fix the problems in your trading and get you to the next level. Answer a few questions on our application and then choose a time that works for you.
BOOK YOUR FREE STRATEGY SESSION NOW >>Andrea Unger here and I help retail traders to improve their trading, scientifically. I went from being a cog in the machine in a multinational company to the only 4-Time World Trading Champion in a little more than 10 years.
I've been a professional trader since 2001 and in 2008 I became World Champion using just 4 automated trading systems.
In 2015 I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.
Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets.
Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.
