One of traders’ favorite features of the IQ Option platform is tournaments. Tournaments allow you to not just practice your trading skills, but compete with other traders in real time and win a real money prize. While tournaments happen quite regularly and can always be found on the website in the tournaments section, truly big tournaments don’t happen often. The average prize pool of a tournament on the platform is somewhere between $3,000 and $15,000 — of course, it also depends on the amount of traders participating in the tournament.
Those numbers are already nice to fight for, however in May IQ Option decided to surprise its traders with the biggest tournament ever held on the platform. The tournament was called “Big Score” and it lasted a whole month to give every trader that decided to participate a chance to make it to the top. The original prize pool was a whopping $100,000 but it was subsequently increased to $155,356! A hundred and fifty five thousand dollars was split between the 30 winners of the competition, and it was truly a remarkable fight between the very best IQ Option traders.
When you manage to come one of the top-30 winners among 9751 participants, it is definitely an outstanding result, but it is especially impressive if you manage to come in the top-5 of winners! What is it like to be at the very top and snatch a part of the big prize?
Weruri Bunchawi, who lives in Thailand, took 4th place and won $8,046 as a result. We have contacted her and she kindly agreed to answer several questions. Read her interview below and learn from a true winner’s spirit!
Tell us about yourself: where do you live, what do you do for a living?
I live in Thailand, in the very beautiful city of Ubon Ratchathani. I work in a massage parlor and also part-time at a local hotel. This is how I make my living.
When did you start trading and why did you choose IQ Option?
I have been trading at IQ Option for over a year. I started trading for the reason that the money that I was earning at work was not enough for my family. IQ Option is a very reliable broker. I started trading on this platform because there is always available online technical support, and because there are a lot of tournaments here. It also has instant insights and a beautiful platform.
Have you ever participated in other IQ Option tournaments? Why did you decide to join the Big Score tournament?
I take part in almost all tournaments, all the time. I rarely trade on the real account, but I really like trading in tournaments, because it seems easier and safer to me.
How did you feel the day of the Tournament? Were you scared to compete against almost 10,000 people?
Yes, I am always scared to place bets and I worry about making the right decision. If my trade is successful, I immediately think about how to maintain and increase my balance.
Please share your secrets with us: how did you win this competition? Which strategy(s) did you use?
I don’t use very tricky strategies. Normally, I join tournaments at the very end and I evaluate my chances before starting to trade. I see if I can get into the leaderboard after completing around five deals and I take part if it seems possible. I choose the direction of the trend and often go all-in, sometimes I repeat this five or eight times in a row.
What are your favorite assets to trade? Do you have favorite strategies or indicators?
I have no favorite assets and I don’t really use indicators. Most often I look at the volatility of the chart and make my decisions based on that. My main approach strategy is to go all the way in.
What has been your greatest trading challenge?
The biggest trading problem for me is when I repeatedly cannot determine the direction of the trend. It either changes or moves in a flat, without a trend. There were times when the prize in a tournament did not justify what I invested in this tournament. But the tournament was over and it was very difficult for me to stop. But I still hoped I would win. So it turns out that my main problem is that I cannot stop when the graph is not readable.
The winning moment… How did it feel?
As soon as the tournament ended and I saw myself at the top, I jumped with happiness and started praying. The feeling of victory didn’t leave the whole day!
Does your family know about your trading passion? Do they support you? What did they say when you won?
My whole family, of course, is aware of the fact that I trade on the stock exchange and is aware that I am among the winners of this tournament. We were all very worried and did not believe that it was possible to get into the top in such a tournament. They believed it only when the funds were credited to the balance. Immediately after that, everyone congratulated me. The next day we got together as a family and celebrated it. But besides me, no one else in my family wants to trade. They say it’s nervous work.
What is your plan for the prize money?
I have already partially spent these funds. Thank you very much for this opportunity and quick withdrawals. I bought new things for the family. We set the rest of the money aside to buy a new car.
What do you think about women in trading? Should more women consider it?
I am a woman. And in trading on the stock exchange, I do not see any difference between a man and a woman. On the stock exchange we are all equal.
Which skill do you think is the most important for traders to learn before they join Tournaments?
My advice to all traders is patience. Be able to wait. Do not rush to open a deal. There are deals in which I am 30% sure and there are deals in which I am 98% sure. So wait for just such a moment and do not rush.
What advice would you give people who are thinking of entering future Tournaments?
I wish you all good luck and victories. And I advise everyone to take part in tournaments, since you can trade in them for a long time and not lose as much as on a real account. And also learn to wait for the right moment and it will definitely come!
