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End of this month's contest today, and I am content

AdamFx42 Posted 30 Apr.  in #Trader's blog #Trader Contest #This Month
Today is the last day of this month's trader contest

I am happy with my trading this month
I had a good strategy, and a solid back-up or second strategy when things went bad
I had significant draw-down (but only very slightly above 60%)
and I managed to turn a losing situation back into a winning one,
I am very happy with my end result of a top 10 position!
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Top 5 position after hard work yesterday

AdamFx42 Posted 26 Apr.  in #Trader's blog #Trader Contest #Top 5 #Lots Of Trading
It took a lot of hard work yesterday but I managed to achieve my goal

I had gained a top 10 position in the trader contest yesterday
after closing my Usd longs - it looked like they had reached their top
I then proceeded to open a lot of Aud, and Nzd based longs and crosses
to try and find a bounce from lows in these pairs
and move up a little in the contest to secure a top 6 position
It took me to late at night to finally turn my positions into a slight profit
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Good to be back in top positions table

AdamFx42 Posted 30 June  in #Trader's blog #Trader Contest #Top 5 #Maybe 3Rd
It looks like I might finish up high this month in the contest
It is good to be back up in the rankings after having won the contest once
(if I finish third this will be my second interview)
I had a quite solid plan this month, and played it relatively safe
To be rewarded with such a high position is great,
it means a safer strategy can work - and this will help me grow as a trader
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Thought I saw an opportunity yesterday

AdamFx42 Posted 28 June  in #Trader's blog #Trader Contest #Opportunity #Top 3
I thought I saw a chance to climb the ranking of the trader contest yesterday
Yesterday I noticed that I was placed number 3 in the contest
and the number 2 only had 1 or 2 more points than me
I saw a chance to grab the second place
so I executed a couple of trades I had been looking at for a few days
but were a bit risky - but now was the time to take that risk
I went short GbpUsd and Gbp crosses, and long UsdChf above support
All my positions failed unfortunately, and I got out on time - with …
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It's been tough trading

AdamFx42 Posted 17 June  in #Trader's blog #Pips #Trader Contest
It has been very tough to make a few pips
I have been losing small amounts steadily trying to make a few pips
the last couple of days of this week
It was time to take a good look at my state of mind and my entries
I was hoping for winners - going for trades with tight SL's
and hoping to be out and up too soon - it was not working
I see now that it is time to settle into trades that I really have believe in
and I am long EurUsd and Eur crosses
Technically the bulls are in control here, and there …
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Climbing back up in the contest

AdamFx42 Posted 11 May  in #Trader's blog #Trader Contest #150K
I am climbing back up and looking for a good trade
After a drawdown of more than 70% I am up to 150K in the contest - my highest yet this month
My aim is to get back in the top 10, where I started this month
For this, I will need a good trade - and I am keeping an eye on the market
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Looking for surprises this month

AdamFx42 Posted 1 Nov.  in #Trader's blog #GBP #EUR #Trader Contest #November
This month's contest I will be looking for surprise forex movements
It will be all about the US elections at first, this month
Although I expect a lot of action in USD pairs, I am looking to buy Gbp and Eur this month
A stronger Usd will hurt minor pairs hardest, and maybe give pause to Gbp and Eur decline
I am buying GbpAud and EurAud to test this, and I will let them ride
Furtheron (if I get there) I will be looking to add Gbp longs, or buy dips in Aud and Nzd
Gl all!
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Crash landing in the contest

AdamFx42 Posted 14 Aug.  in #Trader's blog #Analysis #Trader Contest
After a great start I am back down below starting capital
Putting all my faith and capital into the NZ rate cut proved to be the wrong decision
Blinded by the will to win I forgot the most important rule:
Only trade when you see a trade
I am back down to 70K now
and the rest of the month I will try to protect this capital,
keeping my yearly avarage in mind
My trades will be based on technical and fundamental direction,
and will be safer - I will not risk it all again this month
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Evaluation/Update Trader Contest August

AdamFx42 Posted 6 Aug.  in #Trader's blog #Trader Contest #My Position #My Plan
I am going to risk giving an update and trading plan for this month
I would like to say this first:
Normally, I would not risk setting out a plan for the trader contest
This is because I was usually uncertain that I would survive at all
without blowing up my account completely before the end of the contest period
This month feels different, though
I have learnt a lot the past year - after I won the trader, and then the strategy contest
I still have trouble managing my live account, but I am grow…
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3 Comments
FXRabbit avatar
FXRabbit 6 Aug.

Maybe you should forget about having a live account and start trading on it as if it is just another demo account. :P It most of the time just works well but then don't forget to withdraw your initial deposit the first chance you get! Good luck in this month's Traders' Contest @ AdamFX42!

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AdamFx42 6 Aug.

FXRabbit thank you - I have tried everything, believe me, except following the rules, i.e. not risking more than 2-5% of capital on each trade,and having a comfortable money management program
Unfortunately, if I play it this way - I am thinking about it - it will take me a couple of years to free all funds that I have already deposited into my live account (and lost)

FXRabbit avatar
FXRabbit 9 Aug.

Now that is a very impressive Contest Bonus within just half a year! Very well done.

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Looking for a good start to this month

AdamFx42 Posted 1 Aug.  in #Trader's blog #AUD #Trader Contest #Rba #Interest Rate
I am looking to start off well in the August competition
The trade that I have picked out is selling Aud
I expect a rate cut from the RBA, which might come as a bit of a surprise
The economic data support a cut, but not all banks agree with that
Commentary from Australia support a rate cut tomorrow though
So, I am long EurAud, and short AudChf, and AudJpy
gl all
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