onemove

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Day 11: Opened trade Long 11:46 EST @ 1.3348 Closed trade at 17:05 EST @ 1.3335

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Week 2: Daytrade: +78 pips (5 trades closed) Swingtrade: +34 pips (2 trades open) Daytrades captured 17.76% of the sum of the days' ranges at 439 pips Swingtrades captures 45% of the week's range at 75 pips. The swingtrade that was opened in week 1 gave back its profits. However the daily chart was still pointing up, so a second trade was added at the pullback. The second trade was entered too soon as the pullback was much deeper and the swing account spent the majority of the week in drawdown before pulling back into positive territory.

Friday's trade closed 8/18/2013 18:39 EST @ 1.3326

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Day 10: Opened long 09:55 EST@ 1.3378 Position was at 1.3324 at the end of the day. I was 2 minutes too late to close the trade and oanda had already closed down for the day.

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Day 9: When I looked at EURUSD early in the morning it looked like it was in sideways consolidation after moving up. So I thought there would be continuation of the upmove and intended to go long at NY open. But right before the open there was this huge down bar with the news. What to do now? I continued with my original plan Open Long 09:43 EST @1.3234 Closed trade 16:55 EST @ 1.3345 I have no idea what happened except that I lucked out on that trade. It was a beauty! It is the kind of trade that makes one look brilliant eventhough one had nothing to do with it. LOL It should have a pullback at some point and hopefully allow another long trade tomorrow.

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8/12/2013 Added one at 1.3293.

Day 8: EURUSD at NY open looked........sideways. Inside day. Overall on the daily it still looked up, but in a pullback mode. So what to do? Opened Long at 09:40 EST @ 1.3260 Closed trade 17:02 EST @ 1.3253 What a day! Were this a real money account I would say stay out. Tomorrow hopefully EURUSD will give a hint of where it wishes to go to next.

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Day 7: In the morning I saw that EURUSD had moved down overnight. It is near a support level but does not look ready to move up. My prediction yesterday was for a long. But the market state is facing down. I put in a sell order and waited. After an couple of hours it did not look like the market was going to give me a trade today. And the Coin-flip counterpart is expecting a trade every day for comparison. So seeing that the market was near a support level I took a countertrend trade. Opened Long 11:58 EST @ 1.3245 Closed trade 16:40 EST @ 1.3263 I lucked out today. We'll see by morning if EURUSD will keep this slide down or ready to bounce up.

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Day 6: I was thinking Friday that the market would pullback more, but near NY open it appeared that EURUSD had already pulled back overnight and was at a support level, so I went long Opened Long 09:35 EST @ 1.3288 Closed trade 16:55 EST @ 1.3298 Thinking more up tomorrow.

Well, that swingtrade was not the ideal entry. Although if I was to make a comparison between the one trade a day daytrade and swingtrade accounts in the August Contest, then I had better start somewhere. I lucked out with this late swing entry on day 2. For the first week results are: Daytrade: +24 pips (5 trades) Swingtrade: +44 pips (trade still open) From Aug 6 to 9, EURUSD had a 154 pip range. From open to close of this 4 day bar is 83 pips. Thus the swing trade captured less than a third of the swing and approximately half of the effective "body" from open to close. In the same period the day ranges for the EURUSD was 287 pips with effective "body" of 161 pips. Ideally if my skills and timing were correct I would be capturing more pips using the daytrade than the swingtrade. But that has not been the case for this first week. Results might be also skewed here as the daytrade now is only taken in the US session between 09:30 am and 5pm EST. Might be timing or skills, this first week daytrades generated approximately 8% of the cummulative ranges.

Mysticforex, Found this site in case you need another helper RANDOM.ORG - Coin Flipper. Great pics of coins. You can also choose to flip multiple coins at once (any idea why one would want to flip multi coins at once?) Enjoy!

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Day 5: Opened Long 10:09 EST @ 1.3362 Closed 16:56 EST @1.3339 Closed a little before 5pm as it is Friday as I did not want to miss oanda's platform close. It is looking like EURUSD might pullback a little here. Monday might have a little more pullback. I will wait and see what it does Sunday evening.

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Welcome to the thread The way Oanda's contests work is that all contest participants need to sign-up and be approved before the contest's start date. The contest auto closes to additional sign-ups once the contest starts. The August contest is underway now, you are welcome to participate by contributing your views here and also in: Coin-Flip http://www.traderslaboratory.com/forums/forex-trading-laboratory/16846-lets-try-experiment.html Predict http://www.traderslaboratory.com/forums/forex-trading-laboratory/16994-predict-experiment.html Also keep track of this thread for the sign-up for the September Contest towards the end of August. Enjoy

Day 4: Opened Long 09:37 EST @ 1.3363 Closed 17:00 @ 1.3378 I stopped tallying the pips as the +-% are found in the contest thread http://www.traderslaboratory.com/forums/forex-trading-laboratory/9303-traders-laboratory-forex-trading-contest.html EURUSD is now forming a double top with swing high of June. There is nothing that says it is going down. I will look and what it does with the double top in the morning. Still leaning up.

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Day 3: Opened Long 9:51 EST @1.3299 Closed Trade 17:10 EST @ 1.3336 EURUSD is above yesterday's high. I will look for a long tomorrow.