Day trading or scalping the forex market seems to be making a comeback. This was seen by this month’s King of the Micro winner who made an outstanding profit of 2116.39%.*

Wenzhen Wang, from China, appears to have used scalping strategies on a broad range of currency pairs. Scalping, or short-term trading, can mean making dozens to thousands of trades a day. This is Wang’s second time winning the King of the Micro title and the $25,000 cash prize. Read Wang’s full survey and trade report to learn more about his strategies.

* Past performance is not indicative of future results.

Other Contest Winners

Second Place: Hui Zheng sees 886.85% return on his trades; wins $10,000.

CHINA

Hui Zheng’s Advice to Traders:

What to Do: Staying focused gives you more inspiration in seeking opportunities, while confidence is your motivation for seizing opportunities.

What Not to Do: Don’t compare your own holdings to other currency pairs that show greater potential. You may suffer a loss each time you change your holdings.

Read Hui Zheng’s full survey and trade report.

Third Place: Valdis Filipovs sees 607.52% profit;* wins $5,000.

LATVIA

Valdis Filipovs’s Advice to Traders:

What to Do: Be disciplined and ready to learn from mistakes. Learn to trade just one currency pair well first.

What Not to Do: Don’t be impatient to wait until the opportunity arises. Many losing trades could be winners if [traders] just wait for the right moment. Don’t be greedy and don’t push for quick profits—knowledge will come with time.

Read Valdis Filipove’s full survey and trade report.

* Past performance is not indicative of future results.

The winners competed for the highest return on their trading accounts during the month. Traders who have a minimum of $500 in their FXCM Micro account and place a minimum of ten trades during the month are automatically entered in the contest. Read more about the contest’s rules.