Open trading account 
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 below, I got stopped out of my position. It looks like price reversed at 1.9340 and has traded higher from those levels.
I was expecting bullish GBP news to drive the currency higher, so I had also put in a limit order to buy the GBPJPY, but the order did not get hit and price did make new highs on that pair as well.
The trade cost me 14K in the contest, my balance is now $86K, but I feel good about the trade. It was well thought out, with good risk to reward. Percentage wise, the loss is a bit higher than I would feel comfortable, but to place in the contest, a bit higher leverage needs to be used.
In my previous post, I mentioned being bullish the AUD and bearish the USD. The levels I was watching USDNOK and USDSEK came close, but price reversed before hitting my ideal shorting level. I had a stop order in the AUDNZD but it did not get hit as the NZD is outperforming the AUD
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 below, I got stopped out of my position. It looks like price reversed at 1.9340 and has traded higher from those levels.
I was expecting bullish GBP news to drive the currency higher, so I had also put in a limit order to buy the GBPJPY, but the order did not get hit and price did make new highs on that pair as well.
The trade cost me 14K in the contest, my balance is now $86K, but I feel good about the trade. It was well thought out, with good risk to reward. Percentage wise, the loss is a bit higher than I would feel comfortable, but to place in the contest, a bit higher leverage needs to be used.
In my previous post, I mentioned being bullish the AUD and bearish the USD. The levels I was watching USDNOK and USDSEK came close, but price reversed before hitting my ideal shorting level. I had a stop order in the AUDNZD but it did not get hit as the NZD is outperforming the AUD
