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Redeemed in the October Contest

Jignesh Posted 1 Nov  in #Trader's blog #Usdjpy #Gbpjpy
This past contest was a repeat of history for me. In the top 10 first week, only to drop to below 100K in week 2.
I had pretty much given up on the contest last week, with a mere balance of $44K and the fierce competitors bringing in gains in the half million mark these days.
However, yesterday when the news came out from BOJ, as I was trading my personal account, I decided to go back to the contest. knowing I had little chance of placing, but more for redemption in closing in the green!
I took …
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alifari avatar
alifari 3 Nov

So the point I am trying to make here is try to play according to your strengths and what best suits you and let the results speak for itself. My target for this month is Top 3, let's see how close I can get this month.

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Jignesh 3 Nov

That some good advice.  I think we may have a different perspective of long term though.  Most of the trades I took in Nov I held for 2 weeks.  The short EURAUD trade I took mid Oct I plan to hold for another 6 months.  I look for 1:10 R;R or higher and if I'm profitable even 20% of them time I make money.   

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Jignesh 3 Nov

sorry i meant trades i took in Oct held for 2 weeks.  Similar trade idea now, I'm long USDJPY, I plan to hold until 115.  If it dips, I'll add to my position.  Not the type of strategy that can be used in the contest, as the pair may not hit that level until the following month.

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Jignesh 3 Nov

I find if i start trading shorter cycles, I end up shorting the currencies I'm most bullish on and going long the weak currencies..  And often I find that if I take a trade on the contest I take it on the real account as well. .. not a good thing.

alifari avatar
alifari 3 Nov

Okay, I understood your trading style now. All the best for November.

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So many setups

Jignesh Posted 17 Lug  in #Trader's blog #Eurusd #Eurgbp #Gbpjpy #Usdcad #Usdchf #Gbpcad #Cadjpy
I've spent the last few weeks very inactive. I've taken maybe 2-3 trades, and that in the EURUSD only.
Over the last 24 hours, I've been seeing many of the pairs at inflection points, and have taken several trades. Here is a brief summary
GBPCAD - short
USDCAD - short
CADJPY - long
EURUSD - long
USDCHF - short
EURGBP - long
USDNOK - short
USDSEK - short
GBPJPY - short
Needles to say, I'm a bit overexposed. I'm still seeing even more setups in EURNZD, NZDUSD , Gold, at this point I'm going to hav…
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Trader Contest Update - Flat into the weekend

Jignesh Posted 16 Mag  in #Trader's blog #Usdjpy #Eurusd #Gbpjpy
I closed out my open positions going into the weekend. Although I had sufficient leverage to keep some positions open, I decided to close them all and try to reenter at a better price next week.
The top performer for me this week was the GBPJPY short I had previous blogged about. I was able to close the positions for +200 pips roughly, at a full position size. This catapulted me into 8th position in the contest.
I'm happy with my results so far, but previous experience teaches me that it does…
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alifari 17 Mag

Awesome performance so far, keep it up.....

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Jignesh 17 Mag

Thank you sir

Omela avatar
Omela 18 Mag

And you a nice weekend!))

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Learning from mistakes

Jignesh Posted 14 Mag  in #Trader's blog #Trading Psychology #Gbpjpy #Yen Strenght
I've been focusing more on studying the "chart" of my own trading behavior as of late, with a lot of focus on trading psychology.
The pattern that I have found, whenever I catch a really good trade, I tend to get a bit careless and over confident in my next trade. So I'm trying to be mindful of that and be more aware when those type of situations occur.
Yesterday I posted about a GBPYJPY short, the pair came down nicely today and is currently sitting in at +190 pips. I took the trade on my con…
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Elani 14 Mag

I totaly agree with the quote and thanks for sharing your thoughts

Omela avatar
Omela 18 Mag

you are done!)

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GBPNZD Stopped out

Jignesh Posted 6 Mag  in #Trader's blog #Gbpjpy #Gbpnzd #Usdsek #Usdnok
I've taken my first trade on the contest and was stopped out.
I took a long position in the GBPNZD with 3 Mil units. The order was at the 50% level of the recent move up. I was anticipating GBP strength as the GBPUSD has recently broken to new highs and news on the docket.
My order was at 1.9410 with stops at 1.9370. My take profit was set for 1.95 however, I probably would have moved that up. I'm expecting price to break to new highs if these levels hold. As you can see from the chart belo…
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sense_of_life_is 4 Lug

Good job!

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