For the 1st day, I have decided to go with the following for the currency trading.
Week one, split GBP and BRL at 40K each, and JPY and EUR at 20K each.
I need to watch the currency markets and decided when to get out. I think the British Pound is very weak against the dollar now and should be back to parity very soon. The Brazilian Real looks like it’s climbing too. The Euro and Japan Yen are on a rise, but should be watched closely. I wanted to get the upticks, but minimize the down risks.
Well, that idea went out the door. The challenge only lets you trade about a Dozen currencies.
My quick summary of the currencies at the start of the game.
| EUR/USD | Downward trend |
| USD/JPY | Even, upswing possible |
| GBP/USD | Downward trend |
| USD/CHF | Upward trend, big time |
| EUR/CHF | Flat at a peak? |
| AUD/USD | Downward trend |
| USD/CAD | Low possible bounce up |
| NZD/USD | At a Low, possible bounce |
| EUR/GBP | Downward trend |
| EUR/JPY | All Time Low – Risky move |
| GBP/JPY | All Time Low – Risky move |
| CHF/JPY | All Time Low – Risky move |
| GBP/CHF | On a big upswing near a high |
| EUR/AUD | Upward trend, big time |
| EUR/CAD | Downward trend |
| AUD/CAD | Downward trend |
| AUD/JPY | At a Low, possible bounce |
| CAD/JPY | Downward trend |
| NZD/JPY | Downward trend |
