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elmagnifico's Blog

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Ups and downs. Mostly ups though :)

elmagnifico Posted 14 Jan.  in #Trader's blog #JPY #CHF #USD #Nasdaq
January, the13th,
When you lose on a trade - you have to get back on track right away. After closing the first position on the picture I decided to put in another one right away. Waiting for a little retracement or putting in a conditional order would have been much smarter but the pitfall was my default stop loss went in unchanged and was hit. In this position one always puts the stop loss just over - rather then just under the 117.00 line. The stop loss from the previous position is still visi…
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SalviLeana 14 Jan.

Great job !! :)

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Some skillful shorting and a long position.

elmagnifico Posted 9 Jan.  in #Trader's blog #AUD #JPY #CHF #USD
January the 9th,
Week heading into close and I made some snips of my trades at the end of the week. I'm lurking beneath the top 5 but will it last?. It seems very easy in this competition to make a good start - but very difficult to stay focused on the game throughout the whole of the month. I'm going to imagine it's real money this month
The 14:30 CET economic figures of the day proved excellent for me, although probably disastrous for some, and I made the most out of it. I wanted to do a secon…
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The Reversal?

elmagnifico Posted 6 Jan.  in #Trader's blog #USD/JPY #CHF/JPY
USD/JPY Short
In contradiction to accepted norms the QE program of the FED has not only fueled a massive stock bubble in the US but has also created such demand for the USD that even though dollars have been printed at record rates - the dollar has gained enormously at the same time. One reason for this is that all that cheap money has been thrown onto the US stock market, instead of being used for loans to US companies like it was purportedly intended for, causing a bubble on the US stock mark…
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Last month ended with 127k. September up to 159k already

elmagnifico Posted 7 Sep.  in #Trader's blog #JPY #USD
Saturday 6th of September,
So we are at the end of the first trading week this month. Finished last month with 127k after swinging from 165k down to 55k and back up to 127 at the end. Lot's of fun, and I managed to save face in the end and finish with 27% profit for the month of August and ranking 79 in the contest.
The month of September got off with a very nice start for me and below is the screenshot of my trades on USD/JPY in the first trading week. When markets closed last Friday my balance…
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7th of August

elmagnifico Posted 8 Aug.  in #Trader's blog #AUD #CAD #EUR #JPY #USD #Canada Employment Change
The end of week 1 is near. After cashing in all winning positions on conditional orders with a tight TP on each - profit was marginal for the great potential in these charts. The main economic event of the week, number of pips speaking that is, was this morning´s Australian employment change. I had set up good positions on EUR/AUD and AUS/USD that could have made 75+ easily but had the default 20 pip take profit order on each This can easily be seen in the screenshot below.
I also opened new p…
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6th of August

elmagnifico Updated 7 Aug.  in #Trader's blog #CAD #EUR #JPY #USD #Boe #Pmi #Aus #Ivey
6th of August
Back on the trader contest platform after some time off for the world cup, real life, travel and from concentrating the little trading time I´ve had on my live account. I´m going to try and stay on the contest platform for the whole of this month as much as possible. Here are my opening trades of the month.
This month - I´ll try and use the trader contest game rules to the fullest. Doing all trades with conditional orders and wait for the set take profit target to be hit. Also usin…
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Turning loss into gain

elmagnifico Updated 22 June  in #Trader's blog
18th of june,
So here goes my first loss trade of the month. After taking 3 profitable positions on GBP/USD earning 16.5, 25,2 and 42,7 pips respectively - I opened a small but risky 1 million short position on GBP/USD. This was meant as a scalping trade before the next long position on the same pair.
Stop loss was hit and I lost 74,2 pips totalling 7.420 USD. To even the score I waited for a small retractment and entered into a 3 million long position with a take profit target at 1.70. This was…
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Olga18375 21 June

good information

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Aggressive end of week 2

elmagnifico Posted 14 June  in #Trader's blog
14th of june,
The rise of GBP/USD I predicted earlier this week came with full force on Friday. This happeped so fast I have to use the 1min timeframe to show the 2 trades properly. Of course there was more potential in that chart but I had to focus on my live account.
The next screenshot shows my trades on AUD/USD for this week on a 4H chart. Again this chart has more potential then my trades account for - but this is not important. I have 6 good 20+ long positions on the pair and all were larg…
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Olga18375 21 June

well done!!

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Only wins so far this month

elmagnifico Posted 9 June  in #Trader's blog
9th of june,
Month started off with a good newstrade on the ECB rate decision on thursday. Got 24 pips on EUR/GBP. Thank you ECB
We then had 3 good positions on AUD/USD and immediately opened another large position with a take profit target at 0.95. Go Aussie go! You can do it!
And at last we have a huge position on GBP/USD which I got out of for a few pips profit. Slept during the rise and set take profit too high this time and lost out on another 20 pips. Then again we go long for GBP/USD when…
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Day nr. 2

elmagnifico Posted 6 May  in #Trader's blog
6th of May,
Started trading on the contest platform yesterday. Took a 5 million short position on EUR\AUD with a stop loss of only 7 pips that was hit. Learned the hard way that you can only tighten stop loss but not widen it
Entered again into a short position today and gained 58.3 pips. But like many of you I was mostly frustrated that I closed too early and that I only took a 1 million position but not 5
The hardest thing to learn is to follow your own rules and to be pleased with actual gai…
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