Day 4

Yesterday, the markets were again volatile as predicted, the positions did not yield a return, however lot sizes were later added to existing positions which profited from the sharp pullback mid day.

Target
$500

Will the challenge be won the public consensus at this point is:
31% (Yes), 58% (No), 11% (Not sure)

Latest:
Balance:
$46,396

Equity:
$46,396

Return
-7.2%

Current Performance
-9.9%

Will the challenge be won the public consensus at this point is:
31% (Yes), 58% (No), 11% (Not sure)

Day 3

Yesterday, the markets were again volatile mainly due to the continuing spread of the swine flu. The markets are in a sideways motion which could mean heavy presents of a bull market, however on the other hand the quote "sell in May and go away !" comes to mind so trade equities especially with caution.

I will publish tomorrows position before 11.30 pm GMT today. Again trade with caution and losses are your actions and responsibility, neither do I expect any commission on any profits you may gain.


gbpusd,eurusd,usdcad,audusd,nzdusd,usdjpy,usdchf
short,short,long,short,short,short,long

Target:
$500

Will the challenge be won the public consensus at this point is:
31% (Yes), 58% (No), 11% (Not sure)

Latest:

Balance:
$50,466

Equity:
$48,121

Return
+0.32%

Current Performance
-1.1%

Will the challenge be won the public consensus at this point is:
31% (Yes), 58% (No), 11% (Not sure)

Day 2

Yesterday, the markets were quite unsettled surrounding an outbreak of swine flu virus said to have originated in Mexico. One would expect this to cause further volatility throughout the week, however the model held out and will reduce each pairs lot size by 0.10/pip.

Target:
$500

Will the challenge be won the public consensus at this point is:
31% (Yes), 55% (No), 14% (Not sure)

Latest:
11.30am GMT
Will the challenge be won the public consensus at this point is:
33% (Yes), 56% (No), 11% (Not sure)

15:30pm GMT
Will the challenge be won the public consensus at this point is:
32% (Yes), 57% (No), 11% (Not sure)


Balance:
$49,700

Equity:
$48,982

Return
-0.30%

Current Performance
-1.9%

Will the challenge be won the public consensus at this point is:
32% (Yes), 57% (No), 11% (Not sure)

Day 1

Target:
$300

Will the challenge be won the public consensus at this point is:
31% (Yes), 55% (No), 14% (Not sure)

Latest:
11:58 am GMT, An independent judicator has been given full access to the trading account to monitor its performance. He is a well respected financial guru with over 40 years experience in the industry. This will provide more transparency to the challenge and further solidify the ongoing development of my forex technology.

15:56 pm GMT
Will the challenge be won the public consensus at this point is:
31% (Yes), 56% (No), 13% (Not sure)

Balance:
$50,007


Equity:
$48,410

Return
+0.01%

Current Performance
-0.6%

Will the challenge be won the public consensus at this point is:
31% (Yes), 56% (No), 13% (Not sure)

Just Before The First Trade

Unfortunately I was unable to complete the MT4 automation part of the system so that will have to come later. However the challenge will begin within the next hour or so with regular updates throughout the day's to come. As usual I will publish at least one of my day trades per week.

24 Hours Left

I've been looking at MT4 (Meta Quote Trading Platform) programming language to provide automation for automatic closing of all positions once a particular pl loss or gain has been reached. Hopefully I will have this in place before the next challenge begins.

Will the challenge be won the public consensus at this point is:
31% (Yes), 55% (No), 14% (Not sure)

Announcement of a $50,000 Forex Challenge Part 2

Hi Guys,

I have been working very hard ;) on establishing a technical system and improved risk management for my forex model. I am likely to begin the new challenge on the 27th of April '09.

If there are any questions you would like to ask or additional statistics that I can provide during the course of the challenge let me know via the blog or email

starttoday@jenario.com

Respectfully

Goldtip