Blog

Rustam Niyazov: Investments Brought Me A 900% Profit

25.07.2024

Interview

Meet Rustam Niyazov (Kyrgyz Republic), a new successful trader in our community. From June 24, 2024, within two weeks, he successfully completed the Sweet Pepper 25K challenge and received a payout of €1,409.94. Rustam shared his impressions of SpiceProp and talked about his path in trading.

How did it happen that you became interested in the financial market? Why did you decide to start trading?

A few years ago, I worked for Amazon. I devoted all my free time to studying trading - listening to podcasts, watching various educational videos. At some point, I had to leave Amazon, and then I plunged headlong into a new area for myself - trading. I completed several training courses, where I gained more knowledge on how to use analytics, how to select assets and plan trades, how to create a trading strategy, how to follow risk management rules, etc.

60% of the trades opened by Rustam Niyazov at the first stage of Sweet Pepper 25K were profitable. The maximum profit on transactions was €735. This was the GBP/USD currency pair.

In parallel with training, I actively practiced. I managed to work with several brokerage companies. At first I trained on a demo account, then I started making transactions with my own money. Initially, there were many losing trades. But I did not lose heart, I continued to improve my trading skills. Gradually, profits from transactions increased, and losses decreased. Profitability on transactions has stabilized. Now I have additional income.

Why did you choose the Sweet Pepper 25K challenge? What was the determining factor: the cost of the challenge, requirements, account size, something else?

Before purchasing a challenge from SpiceProp, I looked at what they were saying about the company and went to the website. Among other things, I came across a video on the Internet that described in detail how prop companies work, including talking about SpiceProp. I was attracted by the fact that with SpiceProp I could use an account of several thousand euros for little money.

Additionally, with SpiceProp I have access to all investment assets in one account. It's comfortable. I also liked that there are requirements for profit goals and maximum drawdown. That is, the challenge itself allows you to test yourself: how well you can trade.

At the second stage of the challenge, Rustam added transactions on EUR/USD. Also, 60% of transactions brought profit. The maximum profit on the transaction was €623.

When choosing a challenge, I took into account both its cost and the size of the account. The fact that for €149 I could get an account for €25,000 seemed like a good deal. As a result, after successfully completing the challenge, I received a payment of €1,409. I received a return of almost 900% on my initial investment. In my opinion, this is a good result. I am especially pleased that this is my first payment from a prop company. I continue to work with SpiceProp.

What was the most difficult thing during the challenge?

There were several difficult moments when there was a danger of a high drawdown. At this time, it was necessary to remain calm and not panic. That's what I did. And, of course, correctly placed Stop Loss and Take Profit orders were a big help.

Tell us what your typical trading day is like?

My trading day is divided into two work areas. The first is the London trading session. The second is the New York trading session. Accordingly, you need to prepare for each of them. I look at what events will affect the market, assess the prospects of different assets, plan the time of opening and closing a transaction, and so on.

Despite the objectively difficult situation with the movement on GBP/USD and EUR/USD, Rustam Niyazov did not allow the maximum drawdown level to be exceeded.

Quick Survey: Complete the Following Phrases. At the end of our interview, we asked Rustam Niyazov to share his insights by completing the following phrases. Here are his responses:

A successful trader is one who... ...knows how to control emotions.

The main thing in trading is... ...be consistent.

If you decide to become a trader... ...be prepared to lose everything.

The best trading strategy is... ...stick to your own rules.

Every trade will be profitable if... ...don't forget that a bad deal is part of the job.

To successfully complete the SpiceProp challenge, you need... ...believe in your strategy and stick to it.

If a trader never makes mistakes, he... ...has not yet experienced the full taste of trading.