Texas A&M Foreign Currency Trading Competition

Make sure you sign up for this currency trading competition today if you haven't already done so:

www.gftforex.com/mays

We need at least 10 participants from Baruch to make a college team. Post in this thread if you are participating so I can get a count and let the organizers know about our team.

The competition starts October 1 (tomorrow!) and runs through to the end of October. Here is an overview of the parameters:

  • Start with $50000
  • Each contract costs $1000
  • 100:1 leverage ($1000 contract controls $100000)
  • Maximum of 8 contracts per currency pair.
  • Must make 5 completed trades (open and fully close position) in each two week period.

If you are new to currency trading then I strongly suggest that you never open more than 5 contracts at a time during this competition. Otherwise it is very likely that you will be wiped out. Also remember that you can go long or short with currency pairs (buy/sell). You can close your positions to take profits by taking the opposite trade (sell/buy). You can trade all day and night. I think the markets are open roughly from 5PM on Sunday through to 5PM on Friday each week.
 

Shlomi

SuperDerivatives
Ill do my best...
 
I signed up. Should be fun.
 
From what I understand, everyone competes as individuals. For the college team they just find the average return of all the individuals on the team.

I was just going to send the organizers an e-mail listing the members of our team. Not that we have enough people yet...
 
Is anyone else trading? We need one more person to make a team.

Anyway, did anyone catch the rapid price change this morning in many of the major currency pairs when the jobs report was released at 8:30 AM? Take a look at the example images for AUD/JPY and EUR/JPY charts where each one had a rapid drop (over a few seconds) and followed later by a strong pullback when markets opened over here. I bought into AUD/JPY at 76.5 and have a nice profit now. It pays to be awake early :)
 

Attachments

  • AUDJPY Jobs Report Effect.png
    AUDJPY Jobs Report Effect.png
    2.7 KB · Views: 29
  • EURJPY Jobs Report Effect.png
    EURJPY Jobs Report Effect.png
    2.5 KB · Views: 29
How is everyone doing after a few days of trading? I had a limit order set to close out all my positions and it triggered at some point last night. I made $10k on that trade and now have a total equity of $60k. Mean reversion is awesome :)
 
I sent information about the Baruch team to the organizer, Corey, and got some information back:

  • First, you do not have submit trade journals this year. =D
  • Second, we collected your passwords through the link that ya'll registered at.
  • Finally, I assume you registered as other in the school category. I will note your team for Baruch College.

So we do not need to keep journals! It would have been nice if the original information about the competition had been updated.
 
I sent information about the Baruch team to the organizer, Corey, and got some information back:

  • First, you do not have submit trade journals this year. =D
  • Second, we collected your passwords through the link that ya'll registered at.
  • Finally, I assume you registered as other in the school category. I will note your team for Baruch College.

So we do not need to keep journals! It would have been nice if the original information about the competition had been updated.

Good for me ;) I was in any case not going to keep any records.

Btw, I lost almost all of my profits i.e. 7K but now due to my exceptional trading strategies :D I am again up 8K.
 
Top