April 2010 Trading Review

By Paul | Published: May 3, 2010

I made my first RRSP trade to short Cenovus Energy (CVE.TO) using puts in April.  I also made my first careless mistake in my RRSP by buying more contracts instead of closing the CVE.TO position as I intended.  As of this writing, I am still holding my puts options as the slow decline seem to be underway.  China’s decision to hike reserve ratio is also helping by strengthening the dollar and putting another warning on recent risk appetite.

Despite putting my real money on the line, my main focus lately has been the Dukascopy JForex Strategy Contest.  According to their rankings page, I finished at 4th place for April’s contest.  Which means I may receive a USD $1,000 credit to my trading account at Dukascopy.  Even if I were to trade a $5,000 account as I have done in my paper trading, I couldn’t have earned 20% in a single month based on my past performance.  This contest is a great way for me to fill my forex account with no monetary risk.

Frankly, I was just hoping to squeeze in a top 10 because I started late in the April contest.  So I am very happy to finish at such a good position and receive (hopefully) a decent sum of prize money!

For anyone interested, I have discussed about my winning automated strategy previously.  Feel free to take a look at it to see what got me a 4th place finish.

I will be away on vacation in the last two weeks of May.  I don’t expect much to happen with my trading this month as I’m inundated with personal matters.  My primary focus is still the JForex Strategy Contest.  I will be using a new semi-automated strategy this time.  My goal is to finish in the top 6 again.

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Related posts:

  1. May 2010 Trading Review
  2. June and Second Quarter 2010 Trading Review
  3. March 2010 Trading Review
  4. Reading the fine print for Dukascopy JForex Strategy Contest
  5. Clarification and relieve for Dukascopy JForex Strategy Contest
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