In today’s trader spotlight, I’m going to make a short overview of a similar styled trader like King Yeung Wong under the alias of Chenyi Zhou who landed the 13th position overall in the ongoing Tradingcup Leaderboard despite being inactive.
Chenyi reminds me of Prawin and Weiii Xau for mostly trading Gold only.
Trading Statistics
Chenyi Zhou performed a total of 3,073 trades across 2 different instruments including:
Total Trades: 3,073
Won trades: 2,108
Loss trades: 962
Break Even trades: 3
Win rate: 68.60%
Average gain on wins: $12.56
Average loss on losses: -$16.23
Biggest Win: $522.20 (XAUUSD)
Biggest Loss: -$576.73 (XAUUSD)
Trade Direction: 1,322 Buys/Longs & 1,751 Sells/Shorts (56.98% of all his traders are Sells/Shorts)
Best Performing Instrument: XAUUSD ($10,862.24 Total Gross/Unrealized PnL)
Worst Performing Instrument: NZDCAD ($1.03 Total Gross/Unrealized PnL)
Fastest Trade: 1 Minute (XAUUSD)
Longest Trade: Approximately 73 Days (XAUUSD)
Average Trading Volume: 0.03 Lot Size
Smallest Trading Volume: 0.01 Lot Size (XAUUSD)
Largest Trading Volume: 0.60 Lot Size (XAUUSD)
Average Win to Loss PnL Ratio: 77.39% or 0.77:1 risk/reward ratio
Chenyi Zhou has traded for approximately 547 days from June 9, 2022 to December 8, 2023 with an average of 5.62 trades per day and an average holding time of 11.12 hours. Gold comprises 99.97% of his entire trades and so the 1 NZDCAD trade he made is totally negligible.
Key Highlights of Chenyi Zhou
Decent Max Drawdown Control
If Chenyi has continued trading up to this day, I’m pretty sure he will be within the top 10.
Small Position Size
His average trading volume is 0.03 lot size. Trading this way is advantageous since you are protected from potential big losses when markets go extremely volatile because there is a sufficient margin percentage on your trading position.
How much margin is required to place a trade?
You can find it here:
Average Win-Loss PnL Ratio
Based on Chenyi trading statistics, for every trade he made, he was rewarded with a 0.77 to 1 risk. Not that good to be honest but still profitable in the long run. In his case, he was consistent across his 3,073 trades.
Trend Timing and Price Action
XAUUSD ACY MT5 Weekly Chart
First thing that comes into my mind based on my trading experiences is trend timing is interconnected to price action. Strong trends paved way to strong price actions because of high trading volumes in the market thus signifying lots of activity.
Trends unfold over time and traders are caught trying to predict when and where they ends. Really tough and challenging.
By focusing 1 instrument only, Chenyi has traded 4 technical Gold trends. During the course, he traded 2 strong down and up trends respectively.
Gold’s First Trend (Down Trend)
Based on the chart above and Chenyi’s start, Gold faced a strong down trend from March 6, 2022 weekly bearish pin bar that ended during the tripled bottom on October 30, 2022.
During this period, he made a total unrealized PnL of $2,452.07 across 1,246 trades. An average of $1.97 per trade. At least a positive PnL!
Gold’s Second Trend (Up Trend)
After bottom has been found on $1,615 levels that prevented the Gold bears for 7 fateful weeks, strong up trend followed up from November 6, 2022 to April 30, 2023. This up trend has ended on triple rejection on $2,070 resistance levels.
During this period, he made a total unrealized PnL of $5,004.44 across 1,406 trades. An average of $3.56 per trade. Still a positive PnL and went higher than previous!
Gold’s Third Trend (Down Trend)
By May of 2023, Gold’s third trend which is a down trend has commenced. However, it was short-lived lasting from May 7, 2023 to October 1, 2023 after the $1,810 support levels were re-tested leading the next up trend.
During this period, he made a total unrealized PnL of $3,233.07 across 370 trades. An average of $8.74 per trade. Third consecutive positive PnL and went higher again! Will he still get a positive PnL on Gold’s last trend? We’ll find out next.
Gold’s Fourth Trend (Up Trend)
After breaking the previous Gold down trend, buyers able to flipped the $1,900 levels from resistance to support. This move confirmed a new up trend from October 2023 and still continue at time of writing this article.
In fact, Gold is one of the trending markets right now with a weakening US dollar.
During this period, Chenyi has made a total unrealized PnL of -$277.49 across 49 trades. An average of -$5.66 per trade. Finally a negative PnL but all good.
Back on his trading statistics above, 56.98% of all his traders are Sells/Shorts. He faced challenges during Gold’s first up trend but luckily his buy positions sustained the sell positions’ losses. There are 28 short positions created versus 21 buys on this period.
This signaled him for a time to take profit. We can see his exit through the last drawdown level on his equity curve.
Conclusion
The best key highlight is definitely his trade timing on Gold’s price action specially during the three consecutive trends and capitalized well.
I can’t help but imagine if Chenyi has continued trading to this day knowing that Gold is one of the trending markets lately, he could have amassed more gains for his account that will help him more in potentially landing within the top 10 spots in the Tradingcup leaderboard.
Congratulations to Chenyi for achieving 213.49% returns on his trading journey.
Although, he has similar trading statistics and strategies with King Yeung, the latter’s clear advantage is a better max drawdown control which is one of the crucial criteria in Tradingcup’s Leaderboard Ranking system based on MMR (Money Management Ranking). Hope to see Chenyi back in action.
You can check his profile for more trading statistics through the link below:
https://www.tradingcup.com/signals/178781?server=1&login=178781
A lot of skilled and talented traders awaiting to be discovered in the Tradingcup platform.
The battle to be the number one trader overall continues in the Tradingcup Leaderboard.
Kaede Honjou and King Yeung Wong maintained their 1st and 2nd positions respectively since my last update.
Rankings are updated every hour.
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