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Creeping back up to top 10 again

A lot is depending on a bullish Usd, or at least a bounce in UsdJpy to secure my top 10 position now
I
am long UsdJpy and short everything else against the dollar, still ..
I left my positions during yesterday and tonight and are hoping for a UsdJpy upmove
I am learning the hard way that the toughest thing for a trader is to not trade
I was nice and comfortable at position five last week, and should have waited for a perfect entry
Instead I felt that I was being kept out of the market somehow
wh…
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Bit of a drawdown again

I have been buying the latest dip in UsdJpy
I bought the dip in UsdJpy yesterday- but too soon
I got in at 112.75, looking for a retry of 113 again
At the same time I shorted the other majors against the dollar
looking for retracement after the moves up - again too soon
My account went down to 200K from 300K overnight
I am around 220K now and I will have to wait and see what happens ..
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Still some work to do next week

I have been able to close the week around 215K in the contest
I am around 20th place in the trader contest now
I still was able to leave 3 of the 5 positions open after market close
The Jpy crosses seem to be still recovering, and I am long
I will be looking to add again at market open
I am still targeting a top 5 position,
and I will need to increase my account balance to around 350K for that
Happy Easter! :-)
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Creeping back up towards top 10

I am slowly creeping back up in the contest
My GbpJpy and EurJpy, AudJpy, NzdJpy and CadJpy longs are holding slightly bullish
Technicals look good for a Jpy weakening
I am hoping that I can gather a few more pips before market close
then I will still have a whole week to achieve my goal:
a top 5 position this month
have a great weekend all
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Going a little better now

Eur and Gbp seem to be recovering a bit
This helps my long positions EurJpy and GbpJpy, traders are buying lows and crosses are up too
UsdJpy is higher too, and EurJpy and GbpJpy usually follow this pair
Nzdjpy is doing better too, I also have a long there
my account is recovering to just below 200K after a drawdown to 100K from 320K
I will have to size up and close positions tomorrow though, before market shuts and leverage cut
I am looking to close at the most profitable levels
gl all
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Month in Review

This hasn't been a bad month but it could have been a lot better if I would have not took the profits on my EUR/USD and EUR/AUD so quick. That mistake has cost me a lot but I can't change anything about it now. However I'm now even closer to recover my long term balance and as I've said two months ago my top priority and goal is to bring my long term account balance back to BE point.
I only have left 260k to recover and taking in consideration that there are left two more months on the year I on…
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Account Long Term Balance

In today's blog post I just want to take the time and analyse my long term balance here on the Trader Contest. I know I have been performing poorly and not trying to make any excuses but when I was trading here I wasn't having any kind of risk management in place as I always trade full size. Usually if I wasn't doing any kind of money from the first week that I was going even further and took random trades just maybe I get lucky . Well it seems that strategy has not worked out so well.
Right no…
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Berkeley avatar
Berkeley 19 Out

keep it up! ;)

JockPippin avatar

I smile when I see these guys with a million in the contest and then I check their back record of deep deep red . In no way does the contest size up to real trading ( it never could ,with no consequences ).It's hit and hope that you catch a break on the first week and then you take it from there . Don't beat yourself up too much !!  . The real stuff starts when you start to meet turnover with your prize money :)) .

Daytrader21 avatar

Berkeley Thanks bro!

Daytrader21 avatar

JockPippin Well I agree with you that demo trading has noting do to with live trading. So, on consequence of course you'll have different results demo vs live. If you don't hit it big from beginning of the month than you open up yourself to overtrading and this ultimately will lead to more loses, so I think we're on the same page on all aspects here:)

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Trader Contest Long Term Account Balance

In coming months my main objective would be to address and correct my long term account balance in the Trader Contest. If you look at my long term account balance it looks very nasty and shows a "consistency inconsistency". Since August 2014 my balance has been going in a downward spiral and I've managed to bring it down to even -70%. However since beginning of this month I've promised myself that I'll do whatever it takes to bring my account balance back in the green. Right now it stands at -49…
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Trading Plan

My main objective for next week would be to bring back my account balance to BE and in order to accomplish this objective I would only need to take two perfect trades and I'm pretty much sure I'll do more than just to bring back my account to BE.
I'll be focusing more on the USD crosses as I'm expecting a bounce after the recent sell off. The US Dollar is not yer ready for prime time I think we're going to stay in a range as the accumulation process take place, I neither think we're going to mak…
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verindur avatar
verindur 10 Maio

Good Luck )

Olga18375 avatar
Olga18375 10 Maio

Good luck, daytrader21!!

Daytrader21 avatar

Thanks

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Account Balance back at BE

So far this month has gone nowhere for me, as my account balance was moving back and forth. Unfortunately I wasn't able to keep my previous profits and had some bad trade going on in EUR/JPY. It seems my hole premise of going long has been wrong as I wasn't able to discount the EUR/USD pressure and the effect it would have on this cross. I'm not sure I'll be continue in the contest as my changes to get in top 10 are very slim.
Best Regards,
Daytrader21
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Olga18375 avatar

Good luck!!!!

pipx avatar
pipx 11 Mar

March has been cr*p for me as well, I will try again next month. All the best

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