Most of the markets have been showing a lot of gains for safe currency markets like the dollar and the yen. As the situation evolves, I expect this to continue and for the gains to increase. Looking at the Eurusd market, this is a good time to sell.
The account is down to 50K, mostly as a result of the ranging nature of most of the markets I have transacted in. Next week should bring more trading setups to exploit. For now, just to re-evaluate trading history.
The account has gone up to 60,000USD, which is a big improvement. I have still held on to the short transaction on Usdsek, There is a speculation that this market could slump from here. Still some hours before the markets close.
I have started staging a possible recovery on the trading account. Also, I try my hands on binary touch contest, it is very appealing. Today's profit was from selling the Usdsek market, which has been trending up, but now looking bearish.
The long term outlook for Gbpcad market is bullish, due to weak Canadian currency value, but my short transaction may have picked the rally point for this particular market. Instead of going down, the market has turned back up, running a loss on 77 points.
For the rest of the month, I am going to be changing my tact. Trying something different, but more stable. The approach is simple, identify a trend, wait for retracement, then enter the transactions. As easy as it sounds, this kind of trading is the hardest. Will update in next post.
Day 10 in trader contest March 2018 Account balance is now at 67,000USD, after some transactions that went bad. The markets I chose were the most volatile and did not produce the desired outcome. Now, I have to consider other markets like Gbpcad.
It has been a good week, despite the losing trades, there has still been some good pickings. Most of my trading calls this week were wrong, and resulted in the losses experienced. I will go through trading history to see how it can be better. The Gbpusd market was a shocker, did not expect any bullish tendencies.
Markets started moving this afternoon, after a very dull previous two days. The Eurusd and Gbpusd markets plunged down heavily. Both markets are in a bearish trend, while a market like Usdcad continued to go higher.