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The only way to win Trader's Contest is by using high leverage. If you don't there will be others that will. Top two positions have equity above 600k. There is no point for me winning anything but the 1st place. High leverage also helped me to get from 62k on Friday after a bad start to 380k maximum equity today but the mistakes are very expensive as well. I am left with 177k equity at the moment, not far away from a margin call. I'll consider this month a loss because I have no reason to contin…
Блог OneGoodTrade
Shorting the stock market and USDJPY
There are very big players who are shorting the stocks because of good fundamental reasons to be short. Fed doesn't like that. Today Fed lost some control over the stocks not being able to buy the dip but it seems to control very well USDJPY. While SP500 is down more than 1% at the moment, USDJPY is down 0%. I am short USDJPY and other yen pairs but I can't say it's really going in my favor. At the same time stocks go down fast. I have to close them ... it's hard to compete with central banks.
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The article has been approved
Inside the Mind of OneGoodTrade
I have chosen this title because what happens inside the mind is the most important thing because it's the Input for the Market Process. The Price is just a result.
You can read it here:
https://www.dukascopy.com/fxcomm/fx-article-contest/?Inside-The-Mind-Of-Onegoodtrade&action=read&id=3396
You should also know I have not written it for the purpose of joining the Article Contest. I have written it to help those who are struggling...which would be You, because ever…
I have chosen this title because what happens inside the mind is the most important thing because it's the Input for the Market Process. The Price is just a result.
You can read it here:
https://www.dukascopy.com/fxcomm/fx-article-contest/?Inside-The-Mind-Of-Onegoodtrade&action=read&id=3396
You should also know I have not written it for the purpose of joining the Article Contest. I have written it to help those who are struggling...which would be You, because ever…
Inside the Mind of OneGoodTrade - Article Preview
It was not my intention to join the articles contest and it's my first time I write one. It all started with the article written by Scramble called "How to behave in trading" and my replies to him. After answering him I knew I had more to say and give something back to Dukascopy community. I thank to Scramble for his story and allowing me to join him in the battle with oneself and the market. I hope you, the reader, if you are not successful yet or you are just beginning to trade, will learn fro
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Answer to Scramble's article
Introduction
- The article is great, aknowledging that trading is about human behavior.
Focus
- When trading and no matter what you do the price goes against you it's because you do something perfect. Right, perfect. Trading randomly would be a 50/50 chance to be wrong.
Market
- "If you want to buy a stock, ask who is selling it."
Who is selling? Scramble! ..and others. Perfect, we know he's always wrong so let's buy and move the price in the other direction.
This is the definition of the market…
- The article is great, aknowledging that trading is about human behavior.
Focus
- When trading and no matter what you do the price goes against you it's because you do something perfect. Right, perfect. Trading randomly would be a 50/50 chance to be wrong.
Market
- "If you want to buy a stock, ask who is selling it."
Who is selling? Scramble! ..and others. Perfect, we know he's always wrong so let's buy and move the price in the other direction.
This is the definition of the market…
Goldman Sachs rabbit surprise
Do you remember Goldman Sachs yesterday's story about GBPUSD? They said it should drop a lot more and this time they were right but with a twist. It dropped just to reach for those stop losses and margin calls then it went back up. Same story happened last year with the swiss franc however the recovery in GBPUSD happened in the same day. So traders are kind of used with 10% drop in GBPUSD, 20% drop in EURCHF or 50% in Deusche Bank stock. The difference is Goldman Sachs has night shifts when almo…
What would a hedge fund do before NFP?
Probably nothing. Do hedge funds care about NFP? No, but they do care what the other hedge funds will do. Since the majority of hedge funds are short GBPUSD they are looking to take profits. The only problem is the size, they can't just buy. The priority is to not alert the others and not push the prices up. For now they cooperate in the Prisoner's Dilemma game and GBPUSD made new lows. A perfect way to keep the bearish sentiment among the public. A NFP would be a great day to make people panic …
GBPUSD going to 1.25? Don't be so sure
UK stock index made a 2% rally while GBPUSD broke de 1.28 level. If UK economy is doing so great, actually the best performer among world stock markets since Brexit, why is the pound falling? There is only one reason, it's a message from BOE that the rich people should invest in stocks otherwise they'll lose their wealth. At the same time Gold dropped more than 1% in a few minutes. The message is clear, play along central banks or they'll change the rules of the game. Now it depends on the rich …
October's plan
One of the challenges I have in the contest is that I use too much leverage for my trade ideas. I am very often right but I get stopped out. Not using high leverage however makes it hard to compete with the traders that use the maximum size since the beginning. This month I decided to mirror my trades from my live account in the contest. Maybe that will help even though I will not use the same size.
One of the most important trades this month is going long AUDJPY which I plan to keep until the e…
One of the most important trades this month is going long AUDJPY which I plan to keep until the e…
The game is beautiful
The beauty of the game consists in the fact there are so many systems, opinions and beliefs in the market. If it not would be this way there would be no market. Trading is beautiful because the market is fair, if you have the right opinion you'll make money. No need to prove others you are right, the market can speak for you. The trouble is there are traders who have the wrong opinions, the wrong systems, they lose money but they think they are right.
A new month for the trading contest, the mar…
A new month for the trading contest, the mar…