Pekelo, If this was real money trading...would you have put on the same positions on just before a 2pm FOMC announcement ? wrbtrader
Of course not. But this is a competition so you have to push your luck. Also I was curious just how many contracts I can actually trade according to the rules. Apparently I was able to have a 40 contracts position with some money left over. That 4 different positions were all correlated. I wasn't expecting much volatility for this week. So far we had like a 30 points range for ES, the last contest had 90+ points. 9 of the top 10 traders traded Oil, Natural gas or RB, those moved big today. That is the other thing, I haven't mentioned yet, one has to be aware what can possibly move so what to trade. Margin utilization and possible movers. I should have traded Nat. gas today but there was a real chance of blowing it with that fast moving asset. This shows a trade I carried over and just closed, their accounting day ends at 4:15 pm I guess. I made 2.5K today.
How could the guy loose $3342 today and have a total of $38K when he wasn't even on the leaderboard when I last looked at like 9:30ish today. And if the day starts at 6PM... how the f did those guys make $24K plus trading Palladium, Gold, Silver, etc? What am I missing?
Yeah, things get weird when the Palladium (PA) traders show up on the leader board. Those participants tend to have the fewest trades but make the biggest movement in the challenge. I remember a ES / NQ trader saw the same thing...the big movers were the PA traders. That trader of ES / NQ suddenly started trading PA and has never gone back to ES / NQ nor gone back to them in his real money trading...he's been trading PA / PL ever since March 2019. PA / PL is starting to look like some sort'uv sex pheromone that attracts traders from other trading instruments. In fact, I'm a little shocked that a trader of PL is not on the leader board because PL has been trending upwards very strongly for a few trading days. wrbtrader
Ok, but you missed the point. They are starting the day at 5PM CST. Those folks made $24K in 36 minutes... thats the time stamp on Pek's post. He specifically stated he made $2.5K today. It shows him up $150, so apparently that screenshot is from the new day here.
Had you went all in long with copper on the Monday open you would be up $54k winning the contest, so far anyway. This shows the power of holding winners!
*shrugs* I dunno' why everyone is bugging about this challenge. This goes on every time these challenges occur. By Friday 4PM CT all the accounting will be in and you'll know. I never do well on these challenges because I cannot ever go max lever with the 100K account balance and expect to do well with a one-week deadline. It's just bad juju and relies on being uncannily right on the direction of each instrument.