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 >>In this video, we talk in detail about the trading performance of the winner of our "Trader of the Month" contest for September 2023.
The winner is Melvin, with a profit of almost $15,000, a return of +43.64% and a drawdown less than -5.30%.
By the way, this is the first time in Unger Academy® that an American has won the "Trader of the Month" contest!
This is a sign that the Unger Method™ is gaining traction abroad, especially in the US.
The contest is reserved for Unger Academy® students and rewards the participant who achieved the best live trading performance with a €1,000 Amazon gift card (click here if you want to learn more about the contest).
By watching the video, you’ll discover:
-All the details about the trading performance achieved by Melvin
-On which markets he traded, with what kind of strategies, and with what risk profile
-His 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
Hey everyone, and welcome to this brand new video.
Today we’ll look in detail at the results of the September Trader of the Month contest.
We won’t just examine the winner's statement together, but we’ll try to understand how he performed over the month, which systems performed best, and what suggestions the winner has for us, so as to take advantage of it for our live trading.
I remind you that the Trader of the Month contest is reserved for Unger Academy students, through which each month they can participate by submitting their live results and competing for a chance to win a €1,000 Amazon voucher.
One of the coaches at Unger Academy here, and let's get right into it.
Melvin, the winner, who earned $15,000 (with a return of +43.64% and a drawdown of 5.30%)
This month we have something new... The winner of the September contest is Melvin, an American trader.
This is the first time we have a non-European winner and this is a sign that the Unger Method is also catching on abroad, especially in the US.
Melvin achieved a remarkable performance, earning more than $15,000 and amounting to a 43.64% return, with a really low drawdown if we compare it to the performance of 5.30%.
The equity line is very regular, slightly flat at the beginning of the month, then rising and continuing to rise steadily, and finally closing at highs of the end of the month.
So, I’d say really knockout metrics.
I’d also like to point out a Sharpe Ratio of 9.08.
The underlying assets that contributed most to this performance were Gold and Crude Oil, followed by the Japanese Yen and the Nasdaq.
Instead, the worst underlying assets include Cotton and Sugar.
So, congratulations to Melvin because he couldn’t help but win with performances like that.
You have truly earned the victory in this contest.
Melvin, moreover, was very kind.
He agreed to a brief interview with me to understand a little bit more about his history as a trader and his trades.
He’s been a student at Unger Academy for about two years but has been live for several years.
He was already close to systematic trading. As a matter of fact, he was already applying it in the markets, but he still decided to take advantage of the Unger Academy's educational content to improve his trading activities.
He has a technical background. He is a software developer, and that is his main job.
He isn’t a full-time trader. And he devotes a lot of study and passion to trading.
As I anticipated, he was already a systematic trader before he joined Unger Academy, but he used a different approach from ours.
In particular, he used a multimarket approach, so he developed his strategies not on a single market but on several markets simultaneously, probably also to minimize the risks of overfitting.
So, for him, the Unger Method... The approach to trading that we teach here at Unger Academy allowed him to diversify more.
He then confirmed to me that he particularly appreciates the replicability of the Unger Method, which isn’t always possible with other approaches to trading that often assume some knowledge of the business of studying markets, which isn’t essential with the Unger Method.
He currently uses about 30 strategies developed following the Unger Method, in addition to some proprietary systems that, as I’ve already explained, he has developed over the years using other approaches to trading.
The instruments used are mainly micro futures, wherever possible.
In addition to some large contracts to diversify the portfolio more.
As for his trading preferences, however, he confessed to me that he prefers breakout systems.
In other words, a very strong preference for this type of system, which certainly is, from a psychological standpoint, easier to follow than mean-reverting systems that typically have you buying and entering the market in the opposite direction.
And so, when there is severe turbulence in the market, they are more challenging to follow with discipline.
Lastly, he told me that the breakout systems developed on Crude Oil and Gold, as we later saw from the statement, are the backbone of last month’s outstanding performance.
Finally, I asked him for advice for those new to live trading.
And Melvin told me that the most crucial thing, in his opinion and from his experience, is building confidence in the method.
This means starting with small trading sizes that do not destabilize you from a psychological perspective and learning from live trading because we know very well there’s a lot of difference between theory and practice, and then, once you gain more confidence and skill, you can increase the size of your positions.
Thank you, Melvin, for your suggestions and availability, and congratulations again on your performance.
Conclusion
Well, if your goal is to be able to achieve live trading results like the ones we have just seen and while you are doing it, you would also like to participate in this contest dedicated exclusively to Unger Academy students and thus have a chance to win a €1,000 Amazon voucher each month, click the link below, which will take you to a page where you will find the contest rules.
From there, if you wish, you can book a free consultation with one of our coaches, who will give you all the information you need.
Well, that's all for today.
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.
