14.07.2024

Viktor Ovcharov: I Made €1990 In A Week

Meet Spice Trader from Ukraine Viktor Ovcharov. In the summer of 2024, he successfully completed our Sweet Pepper 25K challenge. On June 28, 2024, he received a payment of €1990.46 and became a SpiceProp trader. Viktor kindly agreed to talk about his success for the readers of our Blog.

Please tell us about your experience in the financial market.

I am well-versed in the financial market and for quite a long time. My specialty is finance, although most of the time I worked in sales. I began trading approximately 14 years ago.

But since I still didn’t have enough experience, I, of course, quickly lost my capital. Later I started trading again, but the result was the same. This forced me to completely change my approach and since 2021 the quality of my trading has increased and I have started a professional career as a trader.

How did you get the desire to make money through trading and investing?

It’s very simple: I didn’t want to work for someone else all my life. I wanted to have financial freedom and not be dependent on circumstances.

The most profitable transaction by Viktor Ovcharov during the Sweet Pepper 25K challenge, was the EUR/JPY pair. The profit on this asset was €1041.25. The deal was opened for a sell.

Why did you decide to try prop trading?

The decision came after I attended Natalia Boyko’s webinar on prop trading. Previously, I was told that you can work with prop firms, receive payments, become a provider of trading signals, but it was this webinar that motivated me to pursue prop trading seriously.

Why did you choose exactly the challenge in SpiceProp that you managed to successfully complete? Tell us how the choice was made.

The fact is that I just learned about the SpiceProp company and its challenges at Natalia Boyko’s webinar. The choice was made based on the comparison table available on the website. I chose the Sweet Pepper challenge because it is called the most popular and one of the most accessible among its analogues on the market.

Viktor Ovcharov completed the challenge without an absolute drawdown in his balance.

Did you encounter any difficulties when getting started with SpiceProp? And if there were these difficulties, how did you overcome them?

Since this is my first time working with a proprietary company, everything seems to be in perfect order. There were no difficulties. After all, I already have trading experience, and in general everything was familiar. However, there was one thing: the supplier of quotes in SpiceProp was different, so the candles were closed using a different time zone. It was a bit inconvenient, but it didn't bother me.

SpiceProp has requirements for maximum drawdown, profit targets, and the minimum number of profitable days. Tell us how difficult it was for you to fulfill these requirements?

Again, since I already know what risk management and trading discipline are, meeting these requirements was completely normal for me. Moreover, when compared to traditional Forex companies, SpiceProp's terms and conditions are more realistic to fulfill.

All of Viktor's positions were opened on Forex instruments. Profit was obtained from buying trades on GBP/USD and selling trades on EUR/JPY, AUD/USD, EUR/USD and USD/CHF.

What, in your opinion, is the most important thing in working with the MetaTrader 5 trading platform? Which platform features do you use most often?

In fact, for my trading strategy, the type of trading platform is not fundamentally important. This can be either MT5 or MT4. Although I like MT5 better, primarily because of the visual effect. I always do general analysis on TradingView.

Tell us how you start your trading day?

First, check the calendar, see what events are expected today. Secondly, I read the latest news, and then I look at what happened in the Asian session and look at the charts.

Is there anything without which you will never open a transaction?

Yes, sure. I will never open a transaction without a stop loss.

What do you think it means to “be a prop trader”?

To be honest, if you compare it with the work of a trader at Forex companies, I didn’t see much of a difference. Although there is a difference between Forex and prop trading in terms of psychology. After all, it’s one thing when you lose your own money on Forex, and quite another when you simply cannot lose money in a proprietary company, because the process is organized fundamentally differently. However, some may find that the possibility of losing personal funds is necessary to improve emotional discipline and trading psychology.