Open trading account 
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 growing as a trader faster than ever
My 6-month average, and yearly average are well positive - both above 50% a month!
If only I could achieve that on a live account ... sigh ...
Still, I feel that i am closer than ever to becoming a successful live trader,
it is just a question of time now - and that feels great, and provides me with confidence
It goes without saying that I owe my success to Dukascopy
The only contests that I participate in are in this community - and there are more than enough here
I have learnt so much here from fellow traders, and from competing with some amazing minds
Most of all - I still thank Dukascopy for providing this step-stone, and amazing opportunity for
traders to evolve, grow and become serious traders without the hassle of losing money on the way
I lost quite a lot of cash before I joined Dukascopy Community four years ago,
so I will say it again - thank you Dukascopy! :-)
Now about my trading plan for this month:
I have been trading reasonably carefully, and (I think) wisely,
following market sentiment, and technical analysis carefully,
and staying on the sideline during the big events - not risking everything
It still bugs me a bit that I stepped out and closed my Gbp shorts before the BOE decision
but I did not let that interfere/influence my trading afterwards,
and this fact alone is a big psychological victory for me :-)
I am learning from my own actions, and are focusing on how I can cash opportunities more easily
For example, I could have shorted right after the decision
Knowing the outcome, there was still a chance to short GbpUsd above 1.32 after the BOE,
and I know now that I could have made a lot of money with that trade
I will be looking to incorporate this new insight into future trades,
which will allow me less stress, easier wins - without having to guess
Anyway - my hat's off to Forex_Champion - who has set a very high standard for this months' contest
Holding on to my strategy - I will be trying to creep closer and closer this month
(so do not relax too much - and do not make any mistakes :-)
My technical analysis, and fundamentals are spot-on this month,
my mind-set is excellent, and I am reading market movements really well
In other words - I am in my element - and I know what I can achieve when I am like this
If you look just at my stats, without looking at Forex-Champions' huge wins,
you would have to admit that they are excellent
Think about it: I have almost tripled my money in a week, with a steady curve up
If I can keep this up this month I believe I can surpass the 500K mark relatively easily
But we shall see about that ... .
I will be keeping an eye on Usd, Eur, and Gbp moves the rest of the month
Buying support, selling resistance - playing it relatively safe, not risking it all
I also have written some very good technical analysis on other pairs in the technical analysis contest
I will be looking to incorporate this information into my trading, too
Just rests, to wish everyone the best of luck this month,
and may the best trader win again - have a great weekend all!
Adam
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 growing as a trader faster than ever
My 6-month average, and yearly average are well positive - both above 50% a month!
If only I could achieve that on a live account ... sigh ...
Still, I feel that i am closer than ever to becoming a successful live trader,
it is just a question of time now - and that feels great, and provides me with confidence
It goes without saying that I owe my success to Dukascopy
The only contests that I participate in are in this community - and there are more than enough here
I have learnt so much here from fellow traders, and from competing with some amazing minds
Most of all - I still thank Dukascopy for providing this step-stone, and amazing opportunity for
traders to evolve, grow and become serious traders without the hassle of losing money on the way
I lost quite a lot of cash before I joined Dukascopy Community four years ago,
so I will say it again - thank you Dukascopy! :-)
Now about my trading plan for this month:
I have been trading reasonably carefully, and (I think) wisely,
following market sentiment, and technical analysis carefully,
and staying on the sideline during the big events - not risking everything
It still bugs me a bit that I stepped out and closed my Gbp shorts before the BOE decision
but I did not let that interfere/influence my trading afterwards,
and this fact alone is a big psychological victory for me :-)
I am learning from my own actions, and are focusing on how I can cash opportunities more easily
For example, I could have shorted right after the decision
Knowing the outcome, there was still a chance to short GbpUsd above 1.32 after the BOE,
and I know now that I could have made a lot of money with that trade
I will be looking to incorporate this new insight into future trades,
which will allow me less stress, easier wins - without having to guess
Anyway - my hat's off to Forex_Champion - who has set a very high standard for this months' contest
Holding on to my strategy - I will be trying to creep closer and closer this month
(so do not relax too much - and do not make any mistakes :-)
My technical analysis, and fundamentals are spot-on this month,
my mind-set is excellent, and I am reading market movements really well
In other words - I am in my element - and I know what I can achieve when I am like this
If you look just at my stats, without looking at Forex-Champions' huge wins,
you would have to admit that they are excellent
Think about it: I have almost tripled my money in a week, with a steady curve up
If I can keep this up this month I believe I can surpass the 500K mark relatively easily
But we shall see about that ... .
I will be keeping an eye on Usd, Eur, and Gbp moves the rest of the month
Buying support, selling resistance - playing it relatively safe, not risking it all
I also have written some very good technical analysis on other pairs in the technical analysis contest
I will be looking to incorporate this information into my trading, too
Just rests, to wish everyone the best of luck this month,
and may the best trader win again - have a great weekend all!
Adam
